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41  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 29, 2015, 01:55:05 PM
Monero is a taco


Monero could have been a taco. Sadly, tacotime was opposed to calling Monero's smallest unit a tacoshi (a la satoshi for 1e-8 BTC). A bold opportunity lost.
42  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: March 28, 2015, 12:45:00 AM
Mixin choice affects tx fee so from that perspective it should be left to the user. On the other hand, foolishly compromising your own privacy also very slightly degrades others' privacy (1 element removed from anonymity set*) so it can make sense to restrict choice. It's not very different from making everyone use only base 10 denominations like we already do.

* This is more academic than practical since the total combinatorial space is still huge.
43  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 26, 2015, 07:41:23 PM
Part of the nice thing about instamines is that the devs have a lot of incentive to make their project valuable.

Isn't Monero empirical proof that scam-free open source crypto projects are still viable? I'm not ready to laud the benefits of assorted scams until all the honest projects die off.

And, yeah, some shadowtrash sympathizers are on a deletion spree. My mundane mention of their PoW schedule (as stated on their OP) got deleted. Smiley
44  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: March 25, 2015, 10:55:47 PM

Interestingly, an increasing number of researchers in top US economics departments think cash should be eliminated, but for an entirely different reason: it lets you avoid negative interest rates. If all money was electronic and had to be held in state-regulated banks, then zero* is no longer the lower bound on interest rates as a monetary policy tool. So you continually lose your savings and have no choice in the matter, but supposedly recessions will become easier to fight.

* In reality, it's more like -0.5% than 0% because of the practical difficulty of storing very large amounts of cash.
45  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 25, 2015, 12:47:55 AM

Not worth replying, they have been pointed out how their system is broken a dozen times, they don't care about that as long as the masternode lock up enough coins to let the price rise.

Current holders shouldn't be the target. In general, confrontation is a win for the smaller brand because it's extra publicity. I don't think crypto is any different.
46  Alternate cryptocurrencies / Altcoin Discussion / Re: XMR vs DRK on: March 25, 2015, 12:37:16 AM
We don't beg for donations, we ask  - the same that bitcoin does.

Unlike Evan we are real men with balls who put their own money into this, without screwing others.
More useless idealism. I wonder how much consolation that will bring if you end up losing to Darkcoin? Nice guys finish last.

There are plenty of now dead shitcoins that played games with supply. Supply tinkering != returns.

A possible corollary of your line of thinking is that someone could copy-paste XMR right now but with an emission-capping hard fork. The investors and the market should then naturally flock to this new chain. I doubt that will actually happen.
47  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: March 10, 2015, 11:37:12 PM
What's amusing is that a big argument for not relaunching bitMonero after taking it over was that it already had a certain level of momentum, even though only a few of us were mining it. I'm not being critical... it just seems so insignificant in retrospect.

Perhaps, but we can't know how that would've turned out. Very early on someone (OracionSeis) did launch a Bitmonero copy with no changes but an emission schedule that's similar to Bitcoin's. It briefly reached a high valuation and then floundered. However irrational it may be, having some non-zero amount of buy-in already present is a big head start over a new launch (probably due to risk averseness). I liked the legitimacy that came with being the second oldest CryptoNote chain, even with a dysfunctional founder. It may be why Monero beat out BBR (the horrible name choice helped).
48  Economy / Economics / Re: US CPI and Europe already deflating on: March 10, 2015, 10:12:20 AM

I am no economist, so I don't understand how printing so much money, which should lead to inflation being rampant, has led to deflation, but that is where we are now.

I tend to see the current deflation as a 'good' deflation, as it comes from reductions in energy prices, meaning that people have more money in their pockets, but it won't help countries that are in debt as their debt increases with deflation, making it even less manageable than it is now (it already isn't manageble!)

I am no economist either....my guess is you print a lot of money and give it to someone who doesnt spend it
edit:fixed the wrong quoting

Roughly correct - the 'printed' money is actually composed of deposits held at the central bank. Although the owners of these deposits (other banks) could withdraw it and put it into circulation, they're being paid interest on it. The interest rate is very low, but it's risk-free so it's still a good deal from the depositors' point of view. Thus they keep the money locked up and the rest of the economy doesn't experience increased money circulation.
49  Economy / Economics / Re: A noob question. on: March 10, 2015, 05:50:30 AM
Usually mining reward decrease has no effect on the price.

Currently there are 3600 new coins every day, just in the last 24 hours bitcoin trade volume is above 150,000 coins, 3600 coins if immediately dumped by miners has no effect on price.

Where did you get the BTC150k figure? From here I see the volume is about $2-7 million (~15k or 20k BTC) per day on most days, with exceptions.

Reducing the daily reward from BTC3,600 to BTC1,800 would definitely have an effect.
Of course that's just a factor as I said before.



There's definitely something wrong with their numbers. Typical daily USD volume is actually in the neighborhood of $15-20 million.
50  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: March 06, 2015, 11:22:42 PM
^^ Yeah it's the root(n) paper, sorry. Recalled it incorrectly off the top of my head.

http://www.cs.ucla.edu/~sahai/work/web/2007%20Publications/ICALP_Chandran2007.pdf

Less cool but still cool for all of the same reasons. Thanks.

I think O(root(n)) is the smallest known implementation of ring signatures. The CryptoNote developers were aware of this -- one of their citations in the original white paper was to a publication on O(root(n)) ring signatures (Fujisaki CT-RSA 2011). However, it uses pairing-based cryptography for which there was no standard library so they opted to be conservative and implemented standard ring signatures.
51  Economy / Economics / Re: ECB to kickstart Quantitative easing next month! May it trickle on bitcoin! on: February 28, 2015, 05:29:13 AM
Quote
That is what I hate about QE. It's all about making the rich getting richer while the poor will only get poorer.

No, it makes equity holders richer. But almost everyone is an equity holder, whether they realize it or not -- pension funds.
52  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency (mandatory upgrade) on: December 03, 2014, 06:25:02 PM
Quote
that what if the cryptonote stuff was designed by a three letter agency and they happen to have the key to unmasking each and every transaction on chain. Oh lordy.

Seeing as it's open source and uses a standard elliptic curve, no.
53  Alternate cryptocurrencies / Altcoin Discussion / Re: How did investing in crypto change your life? on: December 03, 2014, 06:21:00 PM
It desensitized me to volatility in stocks (a small fraction of BTC volatility, let alone altcoin volatility). This allowed me to go and invest most of net worth in emerging market stocks. Should work out nicely in 2 - 4 decades.
54  Economy / Economics / Re: If Bitcoin were backed by something. on: December 03, 2014, 06:11:14 PM
Like any floating commodity, BTC is backed by demand. If it were backed by something else, it would simply be a proxy for that something else's demand.
55  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: November 17, 2014, 05:27:51 AM
I don't know that Warren Buffet is really applicable to altcoins ... seems rather ironic.

It just follows from the unpredictability of market movements - doesn't have anything to do with individuals, or the type of asset, or any associated politics.
56  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: November 17, 2014, 04:16:25 AM
But you need to decide why you are invested, if the reasons are the same.  Stay.

Yep, this is Buffet's advice that's universally applicable to any asset. You can get out, but it's also hard to catch a rise, if and when it happens. Alts wouldn't be fun otherwise.
57  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: November 17, 2014, 03:16:46 AM
Quote
Anybody seen bcx? 

The account is still active. Has shown no interest in XMR. Maybe his FUD contract ran out?

Activity dropped drastically right after the last of his ever-moving deadlines for XMR's death. Perhaps he's embarrassed to show his face and switched to a new account? Tongue
58  Economy / Economics / Re: Price and use of Bitcoin on: November 16, 2014, 08:05:59 AM
Poor, poor academics. They were trying to correlate BTC price with a few variables like news mentions and Google searches when the only advice anyone needs is HODL.
59  Alternate cryptocurrencies / Altcoin Discussion / Re: XMR baghodler reporting in- the uncensored version on: November 09, 2014, 10:05:39 PM
It isn't as if the low emissions in 4 years are unknown or invisible. People see what is coming and may decide to go elsewhere if it looks like it is going to be unsound.

This would be empirically validated in Bitcoin by now (supposed to last until 2100+, only 5 years old, 60% mined out). Yet most new entrants into cryptocurrency stick with Bitcoin. The ones who bother with alts are mostly within two camps (1) the overwhelming majority who feel they "missed out" and are just shooting in the dark hoping to strike gold and (2) those who see scope for technological niches, a small minority.

Who are the ones who see BTC is 60% mined out and choose something else because of that? Are you sure they're not actually a subset of (1), i.e. they choose an alt because they're hoping for higher upside and not because they are bothered by BTC's fast emission? This latter group doesn't actually care about emission on some logical/moral level; they're just speculators who operate at a farther point in the risk-reward curve.

To respond to baghodler:
Quote
XMR holders have now had the briefest of splashes with cold water, becoming bagholders for just a couple of months max has already shocked them to the core.

Yes, everyone talks about how they're going to hold for 2+ years when times are good. They promptly starts panicking on a downtrend and come up with various rationalizations for various schemes. It will pass; churn in the markets is a good thing.
60  Economy / Speculation / Re: Has trading ruined the day for HODLERS? on: November 08, 2014, 04:02:06 AM
HODL'ers haven't realized their capital gains/losses by definition. Traders are playing in their own zero sum game with each other. So neither group has won or lost, nor do they need to at each other's expense. The losers are the ones who are neither - i.e. those that exited with a realized loss.
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