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should this be moved to the main thread? I rarely visit the ann section and stumbled into this thread.
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didn't you forget to make it self moderated?
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any idea of how many xmr on mintpal?
I think there are several altcoins being dumped and I'm wondering if it's from he same source ...
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I guess you missed the part where I said I started mining a few hours after the launch of PoW and go on to call me stuck. Reading comprehension is fundamental.
Maybe I put it wrongly. People who aren't stuck (In the same way that you are not stuck since you got in early) |
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Selling my 5000 XMR mintpal account .
PM offers or skype me: thestatdude
Man I'm sorry. They said XMR withdrawels would resume soon ... |
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It scares me to see people saying that this is a "buying opportunity." I have seen that in many investments in the past and it only serves to pacify as the price continues to decline.
I followed vertcoin from $1.10 down to $.30 before selling & was happy I did when it hit $.04. It's all perspective. Those early to the party have no risk and aren't stuck (like you). They can afford to sell at a profit or get out at break even. I think that no-one here considers the price to be realistic at present. This, to me, suggests that there'll be a lot of resistance to the price dropping much further - and probably only in wild idiotic single dumps like just now.
Those who have already purchased at a higher price naturally think the price being lower than what they valued it at is too low. The problem is - those making the market decisions in a bear market are potential buyers (vs a bull in which sellers do). These people view things different than hodlers do. People who view XC as undervalued now probably ran out of buying ammunition back when they thought it was at a discounted price (vs severely undervalued as they perceive it now) While the blocknet & supernet are interesting ideas from a theoretical standpoint crypto gets so little use that exchanging between coins to use a certain coins feature is almost unheard of. If I do druge deals, dipping in and out of any altcoin is going to cause massive massive slippage (like 20 - 50% of a $100K deal). So the anon feature is pretty much useless without volume. It's a bit like building an empty city. People using altcoins are not using them for their features - but speculating on their future. So to make it possible to use all altcoin features from a single integrated wallet for people who are all betting on their individual coins just doesn't process with me as something that will be a gamechanger. Edit: While I'm not exactly bullish on XC for a variety of reasons. The fact that the main developer will be sidetracked by developing this blocknet instead of focusing on getting everything working well on the main coin (debugging group chat, making solid releases for Mac/Linux (you guys sell a torstick for gods sake), releasing opensource code to get buy in of community) would make me suspect that he's running low on personal funds and needing an alternate funding source (blocknet ICO) which seems to follow the altcoin reviews. This would further concern me. Since the open sourcing & XC completion appears to be being put on the backburner for blocknet then price decline would make sense. |
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That can't go on forever. We've seen his manipulation since the beginning, pushing XC down and down.
Pretty desperate (but yet effective) move since I can only see this coming from a competitor.
Either way, its not gonna work in the long term.. people around here hardly understand how low the price actually is
So a competitor has been buying your coins high and selling them cheaper? Wouldn't buy pressure and sell pressure equalize each other out? Is it Alex Green from Mintpal dumping XC ?
I've noticed several alts taking seemingly illogical dumps so this wouldn't surprise me ... |
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I could dig deeper into this but my impression is that the cryptonote algo isn't as efficient at punishing lower end older CPUs as it could be. The tendency of botnets is to capture grandma's computer (Walmart computer from 3 years ago) Not the gamers/hipsters/business professionals high end gaming pc/mac/ultrabook computer.
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). If the technical distinction between grandma and your voluntary miner is 3 years, forget about a relevant way to distinguish them in the POW. We cannot assume that we will change the POW every 3 years, so this kind of question is of little relevance. Almost all Monero will be mined in 3 years. "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. So if initial distribution in mining matters. It matters more now in early adoption when the release schedule is trying to drive adoption than it does in 3 years
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. I see 85% as almost. Basically I view distribution early on as something that was made to encourage early adoption / speculation. So getting coins towards people who are going to use / save them initially (in my opinion) will increase adoption velocity more now than in 3 years. But this is my opinion ... take it fwiw |
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I could dig deeper into this but my impression is that the cryptonote algo isn't as efficient at punishing lower end older CPUs as it could be. The tendency of botnets is to capture grandma's computer (Walmart computer from 3 years ago) Not the gamers/hipsters/business professionals high end gaming pc/mac/ultrabook computer.
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). If the technical distinction between grandma and your voluntary miner is 3 years, forget about a relevant way to distinguish them in the POW. We cannot assume that we will change the POW every 3 years, so this kind of question is of little relevance. Almost all Monero will be mined in 3 years. So if initial distribution in mining matters. It matters more now in early adoption when the release schedule is trying to drive adoption than it does in 3 years |
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I could dig deeper into this but my impression is that the cryptonote algo isn't as efficient at punishing lower end older CPUs as it could be. The tendency of botnets is to capture grandma's computer (Walmart computer from 3 years ago) Not the gamers/hipsters/business professionals high end gaming pc/mac/ultrabook computer.
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). Yeah but you have to figure grandma isn't going to be mining crypto ... someone else is mining with grandma's computer. I'm willing to give her up to get rid of botnets:p But you are right. It is an academic question. If there was a way of forcing blockchain storage to mine I think that would do wonders because people would find it if botnets were being used. Maybe someone needs to figure out how to incorporate a proof of consent. |
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Making the mining algo less friendly to bonnets and more friendly to everyday pc users might help if it could be integrated with real life uses for small amounts.
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 could dig deeper into this but my impression is that the cryptonote algo isn't as efficient at punishing lower end older CPUs as it could be. The tendency of botnets is to capture grandma's computer (Walmart computer from 3 years ago) Not the gamers/hipsters/business professionals high end gaming pc/mac/ultrabook computer. This might be a misperception on my part. The newer the PC, the less likely to be infected by a botnet as the owner probably cares more about controlling his own hardware. +9999 on the guy who mentioned security. A wallet that limited withdrawals to a small amount per 24 hour period unless multisig from a second device was used. And then sent a warning message to the second wallet (maybe phone thin wallet?) Would be amaxing. I believe Ethereum is working on a method to force miners to keep the block chain on the local machine (would help in making botnets less of a factor) I have a windows machine. I refuse to use Linux even though I work in IT. I live in fear of keeping too much on an exchange and more fear of keeping it on my local machine. |
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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). 2. The GUI, too, is progressing at a slightly reduced pace. We hope to update the preview binaries in the next week or two.
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). Exactly. Look ... assume a gui will take ALL the users from bbr. That's 500k worth of growth. Since bbr already has a userbase and it's own market it's nieve to think the gui is worth more in growth than all of bbr. I'm not sure there is much that can be done to the coin that will increase growth. People who are interested in Monero as an anon crypto are bought in already. Making the mining algo less friendly to bonnets and more friendly to everyday pc users might help if it could be integrated with real life uses for small amounts. . I leave my computer mining at the office for a week and I can bet on poker, fantasy football, play rpettlias game, bet on winning Civ 4 tournaments, etc might grow the userbase. The key being get more of the pie to miners who are mining to use it rather than professional miners or bonnet farmers Otherwise it will be external factors Imo . Pulling in the darkmarkets. . Increased government regulation and focus on crypto that drives a boom in anon. . Greater bit coin adoption. I believe in the future crypto currency will be adopted due to external factors. Monero just needs to make sure it's the defacto choice of anonymous currency and if/when this happens. The leader in anon will be adopted. But it is impossible to change external factors from inside the Monero ecosystem. Rpetilia have you thought about bundling a miner into your game that mines gold straight to a user's account? |
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Doesn't he just do the top 15 or 20 by market cap? Normally no volume in XC to justify adding it back to btcwisdom. It also seems it's in its final death spiral ....
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Being #2, #3, #4 does not matter at all, being the best is the only thing that matters...so stop rolling your eyes like a little girl...
Sorry ... just seems like XC is the mother of "Me too" coins. More power to you - I agree with competition being good. I think the basis for the SuperNET idea is really a dead end game. And piling on more work for your developer before open sourcing is a mistake in diverting resources to the one thing that could make you legit. But it's one guys opinion. P.S. You might try this too https://bitcointalk.org/index.php?topic=675182.msg9183760#msg9183760 - add turing completeness & it's already programmed. |
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Whatever, Blocknet sounds better. Tongue
I agree with that. |
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Now this looks promising, good chance for other coins coming into the fold here too!
*Rolls eyes* This is the SuperNET re-invented. Why do you guys re-invent everything? Being #2 is not going to pay off ... |
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Emphasis mine. Isn't the former likely done with the latters?
I can't wait for a true + popular decentralized exchange. So sick of the scammers in crypto. If you want a trustworthy exchange - use Btc-e which is probably run by the Russian mafia & doesn't support your preferred altcoin. *Grumbles* So sorry for those of you who had your coins on MP. When is someone going to start putting hits out on people? The problem with the crypto world is that it's anarchy except that when people commit crimes against you - they are usually both outside of the reach of traditional justice. & outside of the reach of anarchic justice due to the fact that you'll be inside the reach of traditional justice if you carry out anarchic justice. |
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From what it seems qora will be the first worldwide to have AT integrated into its core! @rpietila: have you checked qora? you can check the following posts: Since this thread is about observing altcoins, I wonder why I haven't seen more references to qora.. Because its closed-source? or maybe "was" ? it's been a while since last time i've checked it out It will be OS once the website and some other stuff are done. There is no way this is a scam. I mean the dev constantly keeps updating and communicating with the community. Just be patient. Regarding OS please check here: https://bitcointalk.org/index.php?topic=522102.msg9208721#msg9208721 It has a link to the first voting for OS. Guys, we're talking about Complete Turing Engine, before Etherium! https://bitcointalk.org/index.php?topic=770239.0If this isn't a once-in-a-livetime chance, then what is it? Maybe it is. But the simple fact that it is still closed-source will be a turn off for many "investors". Also, I don't understand the reasoning behind not going open-source. There is nothing to be afraid of ! Especially clones... The only way a clone overcome the first implementation of the code is if the community leaves one for the other. The only way it happens is if the community as something to gain from the transfuge. Noone said not going open-source. Community just decided not to rush it. It would be better to have some GUI embellishment, website (picture to the outer-world) and featured integrated before going OS imho. The vast majority of people would say that your community chose wrongly. And the price seems to reflect that decision. Sounds like 'Qora'(the dev) himself is doing a good job, but closed source is a pretty big no-no regardless of whether people fork or clone your code base. Just the idea that Qora has been out for months now as closed source puts a rain cloud over the project. That alone might forever turn a lot of people off who otherwise might have been interested. I think that what people miss is the value of buy in. As more people accept something as a currency or a platform the more valuable it becomes. Being first is often important - but being the first to have broad buy in is more important. Ethereum had broad buy in long before Qura. Also Ethereum's implementation of PoW at the expense of dilluting the original investors means that they will get more buy in from a broad base that isn't already invested post launch. And Ethereum has been touring complete / programmable for months. They simply haven't released the genesis block so it's impossible to make money / trade on the exchanges. Closed sourced helps nothing - but the get rich quick monopolies people try to put on innovations (NXT, Qora, XC, etc) mean that there is a heavy demand to fork and use the same ideas on a larger group of people who are less greedy and more interested in a broad base. Hence the tug of war between the ideas of bitcoin & NXT. |
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There's so many more interesting and novel coins out there with organic movements behind them, why get stuck on a midlevel cryptonote fork? Such as? Thing is, it wasn't just XMR, it was most every coin that Polo has that MintPal also had.
Gotta wonder if that was a mintpal dump |
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