Not really, other coins have been discussed here at significant length (XCN comes to mind for example, some discussion of DRK, and others). There is a focus on Monero because the thread starter and others here are supporters, but that need not exclude other coins.

Isn't this a near tautology? A company issuing bearer shares is very likely not compliant with securities laws and has therefore entered the informal economy if it wasn't there already.

The more interesting question is whether this will cause the informal economy to expand, or the definition to shift.

5000 @ 0.22

Someone on that thread is asking for ELI5 so would you mind pointing to your guide or even updating it if necessary?

The developers of this coin were the major sponsors of that GUI wallet project.

There is nothing wrong with third party wallets. Having multiple wallets to serve different audiences is a good thing. All of the major wallets for Bitcoin are third party, including Electrum, Multibit, Mycelium, Blockchain.info, etc.

There are two reasons. One is that we froze the blockchain download after the first attack to maintain a constant verifiable hash. The second is the new self-verifying download format you mention being almost done.

For now you if you download the file you will need to sync up 1-2 months of blocks using the normal mechanism.

It has some quirks (see past few pages of posts) but many people have reported it to be usable.

Three months ago.

https://bitcointalk.org/index.php?topic=683365.0

I have tested using swap on Linux and it works fairly well. Other than during blockchain loads/saves, the amount of swapping is minimal (most of the blockchain is untouched most of the time, so it doesn't need to be swapped in). At the time (about a month ago) I was able to successfully use the wallet on a system with 1.5 GB of physical RAM, though it was sluggish but usable. As usage grows the minimal amount of RAM required will also likely increase, bit this is only at a rate of a few MB per day currently.

Don't confuse a lower price with loss of interest.

What is your opinion and what are the reasons?

85% is four years I think, not three (well 3.5 now that six months has passed since launch).

But in any case the scenario you had in mind is exactly what exists, except that the services don't exist. Someone who wants to bet a tiny amount on fantasy football or micro stakes poker or play Crypto Kingdom can mine right now on whatever computer they happen to have. They won't get a lot but they will get something.

This was composed as a reply to me, but I think we agree?

I see no reason to distinguish between different types of computers aside from the obvious fact that newer, more expensive ones will work faster and better than older ones (and at some point the even-older ones will stop working at all).

"Almost all" is misleading (it sounds to me like 99% or something, and down to just a maintenance reward or none at all). The actual number I've seen is something like 85% in 4 years, which means even if 4+ years there will be significant mining. The current proposal for a maintenance reward doesn't kick in for around 10 years or so.


That depends on the future value, which is impossible to know. Bitcoin rewards were cut in half, yet the value of a block (and of all mining) now is vastly higher than it was 2+ years ago.

In fact another way to look at the schedule of mining rewards would be to attach a current value at the time they are mined. By that measurement Bitcoin is much less than 60% mined or whatever the current number is assuming constant-value BTC.

Well the question then is whether you want to exclude grandma and focus on gamers. I sure don't.

This is kind of an academic question right now though (since neither have any good reason to be interested), but an important distinction when it comes to statement of purpose longer term.

In fact on the altcoin observer thread we had an interesting discussion about a billion cell phones mining while on chargers.

The security idea is good. There have been some ideas I've seen to use multisig as a form of decentralized 2FA (both your PC and cell phone would have to sign a transaction for example).

I think this is highly confused. An everyday PC user is almost exactly identical to a botnet. In fact I've described a successful decentralized cryptocurrency (i.e. not one dominated by purpose-built GPU rigs and/or ASICs) as being a botnet that enlists the user's help to install it. For this reason Monero is the coin (among the top few dozen by market cap at least) that is most friendly to mining by everyday users.

The main reason botnets get so much attention is that so few actual users are using the coin (including mining), thus the proportion attributed to botnets becomes larger. Throw a few million (or more) actual users in the mix and botnets are tiny by comparison.

Anyway, I largely agree with the rest of your points and Come-In-Behind's similar comments.

I agree with you binaryFate. The last missives said there should be a new revision of the in-progress client within 1-2 weeks (from last Monday).


I'm not sure the GUI is really enough though. It will give a one-time bump in interest once it reaches a minimally usable stage, but beyond that more needs to happen to increase the size of the user base. Some of those things are external. For example, right now my feeling is that the entire cryptocurrency phenomenon is also in a similar place (in terms of user base being stagnant and not really reaching new markets at all).

Would it make you feel better if we had a contest for a new name chosen by the community?

I also wonder what you think should happen when the original developer doesn't even bother with critical security fixes and declares the coin "discontinued"? Should I attack the coin instead of taking over fixing it when they don't?

It's still a top-15 coin on coinmarketcap (currently #14). The ranking hasn't changed much and has been in the 10-15 range for months. So it isn't surprising it would have a lot more holders (and everything else) than most altcoins since it is roughly in the top 1% of the entire universe of coins.

If you mean "payment ID" that is not required to send to your own personal wallet. It is only needed when sending to an exchange or in theory a merchant (though I don't know of any).