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It would be able to do useful work.
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Cross-chain mixing works for some purposes, but Putin/Kirchner/Obama's tax thugs and lickspittle corporatists will demand to know the origin of your coins. Which is effectively a whitelisting approach putting the burden of proof on the user to prove their innocence against the presumption of guilt.
Right, what do you do when you buy something with such spent Bitcoins or Moneroj, when they come back and say, "We know you bought such and such with these, because it was shipped to your address. We now need a verifiable record of when and where you bought them, because you now potentially owe capital gains taxes on them." I would advise everybody to just follow the rule of the law in your particular jurisdiction. :-) I couldn't agree more. You should definitely always follow the states instructions. I'm hoping there will be a state or jurisdiction that will embrace crypto, somewhere in the world, sometime within the next few years. I'm expecting that this hypothetical state would gain a great deal of intellectual immigration and we should see a new "brain drain" from nations that oppose crypto ( not just crypto currency, but as some nations are now considering making crypto that has no back door illegal.) Either my country embraces freedom and privacy, or I'm gonna be looking for alternatives. We could establish a state in Antarctica and declare Monero to be legal tender. If global warming actually occurs, it may even have a pleasant climate someday. |
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We . . . might team up with some guys here to build the first Monero ATM  Have you seen http://planet-capital.com/ ? Looks like they are planning to support trading multiple crypto-currencies. Perhaps you could collaborate and add XMR support to their platform. |
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A decentralized prediction market (like http://www.augur.net/) could be an important use-case for an anonymous coin. You'd get better predictions on controversial topics if users' privacy were protected. Is a Truthcoin-like project doable with Monero? |
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One thing that was really good for bitcoin (for a while) was bitcoin-denominated stocks. ASICMiner was around since 2011 and had great returns for a while. If you wanted a seat on its board, you needed 5000 BTC. If you wanted to buy shares of it, you needed BTC. Dividends were paid in BTC and were often reinvested. All that BTC stayed BTC and was taken out of supply for extended periods of time, even as those shares were traded back and forth between people.
An XMR-denominated equity that delivers returns based in XMR would be 1000x better than Bitpay-type activity.
Brilliant idea; would love to see an XMR equivalent! |
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nothing new, it seems at this point the reality could simply go beyond the fiction. at least for quite a while. just look at varoufakis exiting negociations by the small door. I disagree, what is novel here is a mainstream financial editor/writer willing to threaten the centralbank mind-control mantra and say specifically, "This is really, really, f$#%ed up". Fiat money is based purely on perception and Keynesians write papers on "behavioral economics" that fuel the manipulations, jaw-boning, market operations, etc that target price controls. If the illusion begins to dissolve it is over, that is how fragile the current situation is. What would a meltdown mean for Bitcoin? |
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No. He is too dedicated for a curious observer. It's simply not true.
As much as I am "wasting" time with bitcoin, it is still much less than I "wasted" with the Voynich Manuscript, and comparable to what I "wasted" on the Fukushima disaster, Wikimapia, Wikipedia, cold fusion, space exploration... I learned *a lot* with each of those "wastes of time", including with bitcoin. Do you have tenure? |
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Bytecoin still not shown as premine, it's a shame because it's the most scammy of all.
It was. Some shills from bytecoin complained and they have no backbone so they took it off. Probably will happen with dash too, although at least with that one, there are actual quotes from the developer acknowledging the problem. Looks like you were right; Dash is no longer marked as pre-mined. |
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AI Coin cannot sell the coins created without requiring a MSB license. We were in the process of obtaining a FinCEN license, which is a US Federal License that specifies what sort of reporting is required to FinCEN. That agency routine accepts registrations. Our would-have-been partner exchange Bittrex is already registered with FinCEN, but not licensed in the 48 US States as an MSB.
Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.
I'm sorry if this has already been asked and answered. I haven't been following your project closely. Why not distribute AI Coin as a "spin off" of Bitcoin's blockchain, so that everyone who owns btc can claim a corresponding amount of AI Coin? |
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I don't think the GUI is the key. Monero appeals most to extremely intelligent people who also have lots of money (aminorex, ArticMine). This type of guys will be the deciders of the price in the short (1 year) term. The masses come later.
I should refocus to the MiG thing. That is directing to the above segment. Here, my laborious scenario analyses did not receive even one comment. That is indicative that you aren't even interested in Monero here! We need more leaders, and we are bound to get them on board in the coming months.
I actually enjoyed your analyses and your thoughts behind, but i donŽt have anything to add to it.... so iŽll just say thanks for your effort. I too appreciate your scenario analysis (and many of your other educational and inspiring economic posts on both Bitcoin and Monero) but lack the background in economics and finance to discuss them in depth. I find your analysis thought-provoking, but also a bit unsatisfying, in that many of your assumptions seem arbitrary (or based on personal intuition). I laud your willingness to explicate your thinking, nevertheless. Though I'm still a neophyte at trading and speculation, you and a perhaps a dozen others on this forum and Reddit have been instrumental in opening my mind to the idea that speculation is not merely gambling. |
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To mitigate botnet mining, would it be possible to alter the POW algorithm to require the presence of a freely distributable usb device that functions as a "mining license"? CPU's without this hypothetical device would be unable to mine efficiently. No doubt this has been thought of before and dismissed. Why wouldn't it work?
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I'm getting a server error on mymonero when I try to log in. Anyone else seeing this?
yes, it says "server error" |
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Monero, on the other hand, seems quite antifragile. The only problem that is as severe as the ones listed above for Dash, is
- botnet mining.
Is there any thoughts about changing the hash algorithm to minimize botnet mining? While it can't be known what the actual percentage of bonnet mining is, this post speculates that its not as profitable to mine monero using a bonnet as you might think. https://bitcointalk.org/index.php?topic=753252.msg11153671#msg11153671But IMO, I don't think bonnet mining is really a concern, but its a completely unknowable factor. Don't disregard my Monero bonnet miners!   |
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Blocka can chose a coin that wasn't instamined if he doesn't like the label. Or he can stop whining about it and spare us the concern for the whole crypto-community, "but think of the children!".  Blocka, from my perspective, dash isn't as anonymous as it claims and suffers from an instamine which is the death knell for mass acceptance. The sooner it falls the better; it's getting in the way of good technology that was fairly launched and can survive media scrutiny. The question isn't why anyone is attacking dash as an instamine, it's why didn't the dev relaunch and avoid the label in the first place? The day dash is removed from coinmarketcaps for being an instamine is the day I stop calling it out. Until then blame your dev for his half of feeding what you claim is unrighteous indignation; if dash wasn't an instamine, there would be no instamine. And 500k in an hour is an instamine. BF's first post to Bitcointalk: Premine is bad right?  |
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Will you need to get put in prison for the testing phase? Hopefully we could find some volunteers who are already in prison  As TPTB continue their schemes, all of humanity will soon find itself in a prison economy. |
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