This is incorrect.

More and more normal people are hearing about Bitcoin but have little knowledge of any alternative coins and certainly have no idea about the generation 2 coins.

I have yet to meet someone who has heard of Dogecoin.

There is no faith left in this company.

Bargraphics is entirely correct in his reasoning with regards to the current buyers of ActiveMining shares.

The floor is only due to the crazy ones, the same people that buy penny stocks or GoxBTC.

When your company that took in 7,000 - 16,000 bitcoin is worth 125 bitcoin (60% of those can't trade anyway) you know it's all over.

I read some of the older posts that someone dug up about ActiveMining in the old days, I was embarrassed to say I never read those (I admitted this much many times).

This has been an expensive lesson, however I have learnt something from it; research, research and more research.

Also if you can't educate yourself about the business you are investing into then don't do it. I said to myself I didn't have the time to read months worth of forum posts because of my studies and other commitments, the correct course of action would have been never to invest. I knew I was out of my depth when some posters would talk about certain details about the ASIC specifics and I honestly wasn't 100% sure what they were talking about.

Warren Buffett is normally an example for the weak investor[1] that missed the boat (Only regarding the Internet) however what he said is the most correct thing in all of the world, never invest in something you don't understand.

I take this to mean, if you don't understand the business then leave those profits (and losses) to someone else. I lied to myself, I had more Bitcoin in my wallet than I made in two years, most of it from riding other IPO's, I became greedy and lost sight of what was important.

I became a loser, I told myself I don't have the time to read months worth of threads but was ok to make a decision that involved more money than the 2,000 hours I spent working at the cafe.

I am happy to say I have learnt something. Research and understand. If it's a risky investment that you have no idea about, calculate the value of your time and invest that amount.

For the several hours I spent reading about ActiveMining, I should have invested maximum about 1 bitcoin.

I suggest all the investors remaining conclude this mess, decide how much you have actually lost and see if you have anything to learn from this.

I would like to sue Ken into the ground, but I have little resources and not really sure who to contact.

I would like zumzero to stop talking nonsense, the only thing ActiveMining has left is a mining farm that will be losing money by years end. If Bitcoin really starts its next bubble the difficulty changes will be 30% per retarget at least.

[1] Only regarding the Internet, in almost everything else the man is a genius.

I'm not sure, if a miner holds many coins they are inclined to leave as many as possible sitting idle so that their mining rewards in 10 years are higher. Anything like this can be gamed too easily.

Would fixing the rate at 1 Monero per block be too much?

I much prefer the immortal final reward to be something really nice and even, like 1 instead of 0.1 or 0.12.

I feel this might be ok because Monero is quite a fast release coin with 80% mined in the first 4 years. I really think we could justify 1 Monero per block.

I still prefer something like 0.5% - 1%

Someone said that 0.69% is the same as the doubling of the coin supply every 100 years (not including lost coins). I liked that idea.

I think we need to have a simple solution (fixed % or amount) without worrying about lost coins. Over time there will be less and less lost coins and I doubt we'll ever have the same lost coin situation as Bitcoin.

Monero is worth about $1 in it's first month, it took Bitcoin years to get to that point.

I think it's 20 years or something, but this is only the initial supply. Afterwards a release of either a fixed amount or fixed percent will take over and exist for all time.

Some discussion taking place here:

https://bitcointalk.org/index.php?topic=597878.140

So we'll have to wait for several months before real news? I don't understand, what is the current status?

Hey smoothie. You should be able to count all the coins in circulation by adding up all the coins in the one time addresses.

Any people good with economics here? I think the decision between fixed percent or fixed amount should be well reasoned.

If we are releasing 0.8% per year. And Monero is worth $50,000,000,000 in 100 years. That's about $400 million a year for the reward. Or less than Bitcoins reward now.

That means to me, that Monero will still be very secure on 100 years time.

I'm on my phone so I can't work out the same figure for a fixed reward. Anyone care to try?

I think that something like 0.5% to 1% would be better as it really doesn't eat into our wealth that much and it offers an incentive to miners in 50-100 years.

It would be nice for Monero to be amoung the first coins designed for very long term use. I know I was one of the original supporters of the fixed block reward but after thinking about it more it I am not sure. I feel it has the effect of pushing Monero prices into the infinite territory over 100 years or causes a weaker network where we're not attracting enough hashpower.

Would something like 0.8% inflation for all time be better?

Ken has scammed us all!!!!

Ken, you are the biggest liar and thief I have ever known!

Coins with the most fair distribution normally do better.

I recommend keeping the IPO open for another 10 months.

Zum, you know nothing. If you did you would buy several millions shares with a small bank loan and walk away with 1,000 bitcoin next week.

You're a liar!

I don't believe you.

You could take out a $10,000 bank loan right now and buy a major stake in this company. Then at 0.0005 you would have over 1,000 Bitcoins.

Right, so word of mouth spreads and more people start mining Bytecoin.

Can you explain how your miner had no effect on the difficulty? For some reason all these people kept finding about about Bytecoin over the past two years except the difficulty is mostly stagnate from block 5,000 to 400,000.

Oh wait I know why! It's because as you started mining the benevolent Bytecoin developers stopped mining isn't it? They didn't want too much for themselves.

What a load of rubbish.

Either you're full of fraud, or you were the only outsider that ever found out about Bytecoin.

I am sure that if there was a real underground movement where they met with randoms and tell them they have to mine it because it's the currency of the future, I am sure that the difficulty increases would have looked very different.

I am so sorry wildboy, but your story doesn't match reality. (Unless you really were the only outsider ever to be told about this currency.)

But please, all of you go invest and mine into the most absurd premine in cryptocurrency history, those developers need your coin now more than ever!

There you go some that's some Monero FUD of the day, although before dismissing me read what I wrote and dispute it. :p

I've been reading the source and trying to see if such functionality is possible. I have a way it could be done without causing issue to the core blockchain or code but I need to do a lot more research. So if I can say anything it's this; don't write off us adding such features at some point.

However, right now there are fundamental issues that need to be fixed and better understood, the CryptoNote blockchain is a new beast and we really need to hammer out the core first.

I'm all for setting Monero apart, but first we need to make it as easy to use Monero as it is to use Bitcoin. Don't worry though, many of us are trying to figure out possible ways we can get these features. But they will have to be done in a different way. For example I am against the Nxt method, I am against storing things like messages in the blockchain. I find that people add these features without really thinking them through. I support Nxt but I believe certain things need to be planned and done differently. If I can formalise my ideas into a concept I'll likely try to apply it to Monero.

But this is a ways off, we need an effortless wallet and a GUI first. We need to stop getting in the users way even if they have too many dust payments, we need to wallet to take care of many things that should be behind the scene (of course the advanced user can always push the transactions are we are doing now)

I have no hopes for Zerocash until they reinvent a major part of their system. They require a trusted accumulator.

Bytecoin was first, but it was mined two years in secret with the same machines (no underground massive discovery, difficulty from block 5,000 to 400,000 are about the same)

Monero is the first CryptoNote that had a fair launch.


It hasn't died out.

The CryptoNote technology has a lot of potential and apart from the Bytecoin premine, Monero is first.

So Monero has the first mover advantage. If you're interested in CryptoNote technology it might be wise to invest in all the CryptoNote coins.


Ring signatures technology inside CryptoNote (Monero) offers true decentralised anonymous transactions.

Please read the whitepaper here: https://cryptonote.org/whitepaper.pdf

Also the creator of CoinJoin that Darkcoin is based off of (gmaxwell), who is also a core bitcoin developer said that CryptoNote technology works and blows CoinJoin out of the water.


At least one member of this community is working on a GUI for anyone to install. Like Bitcoin GUI.

Remember this technology is very new, this isn't a bitcoin source code copy pasta job.

We have lots of issues, transaction size, wallets working easily for services (exchanges) etc... this is early days for this technology.

Please read the whitepaper.

EDIT: regarding Darkcoin, remember a Masternode can record all the transactions it joins.

Evan is working on the next version that will make your transactions route through 10 or so Masternodes to achieve anonymity from node owners, potentially causing worse blockchain bloat than Monero. This is still flawed because Masternodes can be attacked and the effect is to force your transaction through to bad recording nodes.

I want to know if Bargraphics was correct, did Ken literally spend several months doing nothing?

I don't remember anyone ever saying this, we of course speculated what Ken was doing.

What was really going on?

Two things I want to know right now, how much money we have left and where all the money went and a confirmation on Bargraphics observation that Ken had done nothing for months after cancelling eASIC.

Because when Bargraphics went to see Ken, I don't remember him saying that Ken had done nothing for several months.

So what is it?

You're the most confusing developer ever. I suspect your game is to eventually make it look like you're scamming by being utterly preposterous in all the things you do and write.

Then I suspect the end game is to actually release an awesome new coin with unique fantastic features. Of course the release only comes when the investors are on the verge of defeat.



Am I right?

On a more serious note. You said before that you may be using a consensus system similar to ripple in an effort to achieve instant transaction times. If this is the case why are you worried about other coins?

We can break up possible competitors into two main categories; existing coins and copy cat coins.

Copy cat coins shouldn't be a problem as long as you get at least 1000 early adoptors on board with the IPO.

Existing coins also shouldn't be a problem because if your solution involves that consensus tech it will most likely be quite difficult to port that over to a traditional blockchain based coin.

For these small payments we really need the wallet to calculate the best way to send a large payment and calculate the correct fee. If it's going to be a multi block payment then the client needs to handle that itself.