OTC thread is open here until good exchanges are available: https://bitcointalk.org/index.php?topic=1372878.0

I'm facilitating a trade or two per day and and I'm pretty sure there are more that happen direct between buyers and sellers

Charming or not, the world is as it is, and it doesn't owe Wang Chun a living.

I'm not supporting "voting with their packets" but the way the internet operates, it can't be prevented in practice and needs to be accepted as reality if one would like to engage in realistic decision making.

There is no way to hold such a vote because the existing project organization has no governance rules that would allow it. To change the governance procedure, you have to fork the project and propose a new organization with different governance rules (and get support otherwise you are forking nothing but your own mind), but that doesn't mean you have to fork the chain.

No

Maybe yes, maybe no. It is certainly possible that the governance issue is being used as a vehicle to promote some other political agenda.

The way to find out is the separate the issue from others and see whether a change in governance, by itself, and without the baggage of simultaneously proposing immediate changes to the software or chain rules, has any support.

The question the community should be asking is what changes have been made to the process to address the underlying causes for not only the original bug, but also for: a) it not being found over a year in the wild, and b) the flaw being incorrectly dismissed by the core team once reported.

I would say the underlying causes are:

1. Poor/nonexistent core competency in cryptography and math.
2. No peer review.
3. Leadership failure in not recognizing the need for #1 and #2

Just fixing the bug is treating the symptom, not the cause.

You want a governance change, here's how you do it:

Fork the project without proposing a chain fork. Attract developers and community support, under a new project with new governance rules.

Can use either a remote node (less privacy, potentially less secure, but lightweight with respect to your own resources) or your own node (maximum privacy and security).

It depends on the amount of collateral being used to support the trade. Eventually the losses will be large enough that liquidations will occur, but there is no way to know specifically when that is. You can make guesses based on the assumptions of say, high, medium, or low leverage. High being the minimum collateral to open the trade of course.

EDIT: another complicating factor is that the collateral can be any of the margin coins. Declines in the value of the collateral can also trigger liquidations.

Your hash rate should be something like 240 H/s while the network seems to be around 12 million H/s now, so you will get roughly 0.002% of the total or 0.2 XMR/day.

EDIT: this is assuming a high performance desktop CPU with at least 8 MB of cache. I guess there might be some 4-core variants with less cache in which case your hash rate might be lower. Adjust accordingly.

Let's not leave out:

Think of all the coins that would be lost forever when their owners overdose on coke. Self-reinforcing scarcity.

There's nothing wrong with splitting currencies but the existing currency and its network should be left intact. People who want to migrate to the new, fundamentally different one can do so voluntarily.

Long term, any fixed rate of issuance will approach a balance with the rate of lost coins.

It won't be deflationary like Bitcoin (once issuance is finished, lost Bitcoins will actually shrink the money supply) but it won't be inflationary either.

Coinjoin can't be done without reliance on some some sort of coordinating process and counterparties.

There is some issue with merging the MyMonero seed import code that I don't understand, but code exists on github, available to be used in an emergency.

However, a readily available workaround is to create a wallet with simplewallet first, then use the same seed on MyMonero. At that point you have a wallet that can directly accessed with both methods (MyMonero for convenience, simplewallet or another wallet if necessary). I'm sure this method will work with the GUI as well.

I think the offline paper wallet generator (URL?) can also be used to create a fully portable wallet.

MyMonero coins can't be frozen because if MyMonero refuses to let you use them (or shuts down), you can import your private keys (via the seed) to another wallet.

Coins that are deposited on a centralized exchange can be frozen.

It does show this new money is "good money".


The canary in the coal mine will be when you start to see existing businesses that could easily accept conventional fiat not accepting it. Ransomware security audit services tell their customers "your stinky fiat is not wanted here" but only because they don't have a choice (ignoring fringe fiat methods such as the now-defunct Green Dot). When fiat users have a choice and start to walk away, the end is near.

I thought it was clear those are pre-funded orders where I do have the coins (or the BTC in the case of the buy order).

Certainly you are not obligated to do that, and you can still use escrow (also optional). You make a valid point though. I thought this way would work better (based on my past experience doing a few OTC threads) but since there is an objection I will include all offers from the thread in the OP. Please do try to edit your posts when the coins are sold though (and reply on thread or PM me to let me know), so the OP is not cluttered with stale offers.

EDIT: all known offers added to OP. Please PM me if I missed something.