Thanks for all the thoughtful responses. I see that the crypto herd has a different definition of the term "scam" as it applies to business.
Where I come from, you would call every company a scam simply because a company's board of directors "mined" more shares into existence.
I would not. I would call it a scam when they announce that the IPO shares will be sold for $10 on Tuesday, and the board suddenly decides to sell shares for $1 on Monday but only to people who show up for the unannounced discount (i.e. themselves and their friends). In fact, the stock certificates given out on Money had a misprint -- extra zero on the share amount -- so everyone who showed up on Monday got 10x as many shares for the same IPO price. Oops. Too late to correct the error of course, better let it stand. Oh, and there is no prospectus available on Monday or Tuesday, only a scrap of paper that says the IPO will be used to start a penis pill company. In fact it is going to be used to develop useful software, but only the board and its friends know that there is a detailed prospectus describing a plan to develop useful software, but they never released it until Wednesday. You get the idea. Accurately disclosed premines and ICOs are not scams (though scamming may occur later) in my opinion, but opinions differ. |
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explorer, everyone figured out what the poll should have asked and answered based on what it should ask. We humans are very smart and adaptable.
ArticMine, very well written and solid points. Thanks.
Explorer's answer may be correct even based on what the poll is trying to ask. In the sense that to the extent BTC is a scam (and there is not no basis for that) it has scammed more people for more money than all the others combined. ArticMine's point is also valid. There have been more blatant scams than Dash. Then again we never know what is really going on behind the scenes with any of these coins (i.e. the most well executed scams may not even be recognized by scams at all) and Dash's instamine is particularly subject to that question since it is by its nature deceptive (Bytecoin too). |
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Getting called scam most often is not really the same as most scammy. The correct answer to that poll is Bitcoin of course. Monero should be rated higher than it is though, I'm disappointed. |
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TL;DR: Bitcoin, like house dealers and cool bands, was great when it was obscure. Success just doesn't become it  I largely agree here. I don't know that any of these systems can truly scale, nor that any of them will ever be useful for large amounts of value. The solution may be much the same as cool bands, or anything else (including anything "cool" that only works when it is small). Churn. On this score, even Ethereum has its role, just don't buy in too high. |
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the focus on getting a gui completely integrated with core will be far more beneficial than the result of having a gui, imo.
as an end user ill be running a node, so long as the blockchain can be kept to a strict 20-50 gb in size
It won't be >20 GB for quite some time. The current blockchain is around 2-3 GB, and only growing by 1-2 GB per year. On disk it needs 8-12 GB depending on OS but there is some optimization work being done that will both reduce the size and improve the performance. Obviously increased usage will make it grow faster but that is a good problem to have. |
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Yes, I remember SolidCoin literally the original scamcoin. It is the one case I know of where someone actually pirated software under the MIT license. https://opensource.org/licenses/MIT, and was subject of a legitimate DMCA takedown notice. Pirating software under the MIT license can be done but it takes a real effort as a scammer. Vanillacoin is another one that is violating the MIT license. There haven't been any DMCA takedowns yet but it will only take some Bitcoin developer to decide to bother before it happens. With ETH, etc. bringing new money into the scene now, it is inevitable that scams will follow, just as they did in 2011 and 2013. |
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Nice review. Very clear on how Trezor works and how it is integrated with Monero. The writeup also conveys pretty well how the Monero ecosystem is growing to include more devices, development efforts, and third party support. |
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The "next level" of adoption comes from third-party integrations and services that actually bring utility to the currency. A bundled GUI doesn't deliver any compelling new use cases, and won't result in any new adoption outside of Bitcointalk users and their close relatives.
What about the idea that poor ease-of-use serves as a deterrent to third party integrations and services? |
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Updates offers and trades. I think it is up to date now, but if anything is missing or out of date please let me know.
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So if miners are paid in Clam then the reason its going down without a end in sight is paying Miners is expensive and without new money coming in the value will further go down til the bottom ??
The reason the price is going down (you don't know with or without end as that would require knowing the future) is declining interest in the value proposition here. Staking inflation could explain some price decline (only a few percent per month though), but the market cap is dropping as well. |
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Somebody knows when Zcash will launch and if there will be a ICO? Or only premine? how will they distribute?
As with all software, no one really knows when it will launch including them, but they say later this year. According to their stated plans, there will not be an ICO, just mining, along with the deferred premine (mining tax) for insiders. And When Zcash launches, it will be a threat for coins like XMR and DASH, how do you guys see this?
Same story as any other potential competition: 1. Could be a threat 2. Could fail. 3. Could serve a distinct niche 4. Could expand the market. Among other possibilities. |
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is alcurex a scam price is very low
There is no evidence of it being a scam, but it does always pay to be cautious. The history of exchanges in general is not good. As far as the price there, the main issue is low liquidity and the spread being wide. Right now the bid is 12k and the ask is 16k (although most of the recent trades have been at the ask). |
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I couldn't find a seednode list, so I ran without giving an exclusive node, but with "--out-peersá 1 --p2p-bind-ip 127.0.0.1" with good success.
That's a good approach. If one node gets stuck or fails it should usually switch to another one. Depending on the network of the chosen peer, it might be slow, but should retain the bandwidth-efficiency of picking a specific node while being more reliable (good for unattended syncing). I don't ever recommend limit-rate-down unless you are trying to reserve some of your own connection for some reason (video streaming, VOIP, etc.). It won't reduce your bandwidth usage, only make things take longer. But would you for example recommend the below? I assumed it basically sets the allowed bandwidth (upload & download) to unlimited: ./bitmonerod --limit-rate 128000 Limiting the upstream bandwidth is perfectly valid because you are deciding how much of your resources to contribute to syncing other nodes. We can't force people to participate at all, so if someone only wants to provide a small amount of bandwidth, that is certainly better than nothing. Setting the down limit or the combined limits to some arbitrarily high number is fine if that's what you want to do. I don't remember if there is some other way to disable the limits. |
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Can you elaborate on the "firm support at roughly $5 million market cap or thereabouts"? My understanding is that Monero is reasonably widely held by many people who believe in crypto currency and decided that Monero represented a best open source effort amongst altcoins. And so I don't think they are in it for a short-term speculation, nor are they holding so much that they need to sell. The hot money may rush out, but the faithful will probably scoop up coins at roughly that price level. Okay maybe $1 - 5 million. I am just saying it can't totally collapse. Whereas, those coins which are hype which is so technologically flawed that they are useless and have 0 adoption such as Ethereum, Factom, MaidSafe, Storj, etc, could go to ~0. Ethereum perhaps not if they raised some $millions during this pump, so they can probably keep the hope alive for a while ($200,000+ per month burn rate  ). Let's say there are 1000 long-term investors holding (invested) $5000 each on average. That is $5 million. And the market cap is usually much larger than the actual capital invested (although that might not be the case for Monero since apparently it was so fairly mined and widely held and not pumped because the price can't be manipulated by buying from yourselves, because it isn't primarily held by a few whales). I think it is hard to figure out how many people are invested in XMR. Try to buy XMR worth of 5000 usd and look at price chart what happens. Probably you are making a candle. I am saying, 5 million marketcap is a marketcap that is supported when there is very little interest in XMR. That has been a solid rock bottom and personally I consider it a low probability event to go there anymore (unless btc will crash big time), that would need XMR should drop to 0.001-0.0012 levels and below when new coins are mined. Of course I might be wrong here but I am playing with probabilities, and if you think the current marketcap is too high for XMR in the long run, then by all means, sell or even go to short position. I can lend you some Moneros if you need.  I think TPTB was actualy bullish on Monero in his own super bearish overall sentiment way. Everything will crash but Monero has the best chances of not crashing as much or maybe not at all kind of... I am saying 5 million marketcap for XMR is nothing. 100 million marketcap neither is nothing. No currency has such a low market cap. I am not familiar with Krona of Iceland but I guess the marketcap of even that small currency based on fishing industry is more than 1 billion usd. We don't even have a fishing industry yet! |
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i would like to buy 10 000 @ 18k satoshi! please write PM
I added this to the OP. I have 2000 I can sell you at 15K and another 1000 and 16.5K. PM me to make these trades happen. The other sellers (not in bold on the OP) you will have to contact directly to work out trades. Pardon my skepticism but given that you are new here, the large size of this buy order and the fact that there are coins immediately available for you to buy from multiple sellers, if it appears to not be real I will be removing it. |
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Clamcoin shits 1440 new coins every day for ever.
A number which will eventually become insignificant when the total supply becomes large enough. With 50- or 100-million coins, would 1440 coins/day (roughly half a million per year) matter at all? I think not. In practice an appropriate equilibrium will be reached sooner. 1,440 new coins per day is the same regardless of if there is 1 million coins or 100 million coins. The number is the same. Its significance is not the same. The only thing that will matter will be the exchange rate and I imagine that will be significant... or none existent by that point.
On that I agree. |
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I think fungible is really a specialist term that doesn't work so well talking to people more widely than the cryptocurrency or economics worlds. Just my opinion on it.
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Just like the biggest company in the world didn't exist in 1996 (Google), the biggest bank in the world, in 2036, probably doesn't exist today.
Lifespans of top companies are shrinking, according to an Innosight study of the S&P 500 Index:
61-year tenure for average firm in 1958 narrowed to 25 years in 1980—to 18 years now.
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I didn't realise the hashrate wasn't trending stagnating/ trending downwards (or at least, not groing strongly, like ETH) - My bad. Is there any decent resource with up to date charts showing historical data?
Chainradar has charts. The difficulty chart is easier to read than the hashrate chart even though they are really measuring the same thing (just less noise in the former). The trend was down until early December but up since, both in line with price, though the recent acceleration in price has not yet been apparent in hash rate. http://chainradar.com/xmr/chart |
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Clamcoin shits 1440 new coins every day for ever.
A number which will eventually become insignificant when the total supply becomes large enough. With 50- or 100-million coins, would 1440 coins/day (roughly half a million per year) matter at all? I think not. In practice an appropriate equilibrium will be reached sooner. |
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