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1341  Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum on: September 07, 2015, 03:40:00 AM
...
so then now tis all premine? (not that most aren't in the same boat).

How can it be with all the "shilling" and "spamming"? One cannot have it both ways.  
1342  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: September 07, 2015, 03:19:28 AM
why do amercian's if ask say two or three questions, only answer one  Huh

and the one they have to get defensive about



First, I am not American, if by American you mean a citizen or resident of the United States. To answer your other questions.

The "official" versions are close to nine months old, and require upwards of 7 GB of RAM to run. In order to get the latest versions one actually needs to compile from source. Then Monero only requires about  60 MB of RAM and has a host of other very significant under the hood  improvements. Furthermore in both cases it is a command line interface. To use my real estate analogy the foundation is very solid but the bathroom stinks really bad. This is why one can purchase XMR at the current prices. There are other coins that have very serious problems in the "foundation" (out of sight out of mind), but the "bathrooms" are clean and beautiful. They are also more expensive.

I have been around enough to realize that 1) Freshly painted rotten wood actually sells very well in real estate. 2) A freshly painted rusted used car also sells very well, as long as the rust is hidden. Caveat Emptor.

Edit: The devs have been working very hard building a very solid foundation and cannot be bothered with "cleaning up the bathroom".
1343  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: September 07, 2015, 02:51:08 AM
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its certainly not baseless accusations anyone who reads this forum sees the mindless shilling, also most the 'litecoin is dead' types can be traced back to monero supporters threads, tis how i found monero.
...

It is not whether or not the accusations have merit, but rather that they serve to protect the early adopters who got in cheap, after Monero moons. This of course applies only in the event that Monero does moon. So I actually consider the accusations a form of insurance.  
1344  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: September 07, 2015, 02:35:36 AM
i see monero shills continually trolling litecoin, as if they need to discredit it to overtake it on coinmarketcap. this itself always turns me off monero.

occasionally i get over that and attempt to give monero a go.......

like this morning....well

how in any even remotest dream do you guys think monero has a snow balls chance of even being adopted by even 1/1000th of btt members here let alone anyone else in the world outside?


just curious?

sure you guys will treat it as a troll, but seriously this coins almost unusable in its current state  Huh

is it command line or do i have the wrong client  Huh

Who is trolling litecoin? I've actually been on the litecoin vs. dash thread discrediting dash. If you're talking about NEMaSCAM's thread, I suggest you look at his or her post history to see what he or she is about.

One interesting side effect of all of these accusations of shilling and spamming directed at Monero supporters is that should Monero take of, none of the Monero early adopters could be accused of having an
"unfair" advantage.

Edit: As for the lack of an official GUI, this actually makes Monero very attractive to an investor because this causes Monero to have the "right things wrong with it". I learned about this concept in real estate investing where a house with a faeces encrusted bathroom and a solid foundation can be a much better buy than a house with a beautiful clean bathroom, and a foundation about to collapse.
1345  Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum on: September 07, 2015, 02:08:38 AM
so travelling around some communities its interesting to see various alts evolve, problem i see is most are evolving the exact same way.

like all the 2013 coins that went POS to stay relevant  Roll Eyes

anyone care to state some old alts of bitcoin/litecoin, that have gone their own path and done something unique, or solved an issue you yourself had with bitcoin?

The biggest issue that I have had with Bitcoin going back to 2011 / 2012 is the 1 MB fixed blocksize limit and the lack of an adaptive blocksize limit. I have recently come to the conclusion that this is closely related to securing the coin after the emission runs out; namely with just transaction fees. The latter very likely needs a tail emission.

So what POW coins have addressed this issue:

Full Solution:
1) Adaptive blocksize limits and tail emission Monero (XMR)

Only partial solution:
1) Tail emission only with no adaptive blocksize limits: Dogecoin (DOGE)
2) Adaptive blocksize limits only with no tail emission: Bytecoin (BCN). Bytecoin has a serious  premine / ninjamine issue but one can consider Dashcoin (DSH) which is a clone of Bytecoin without the premine / ninjamine. Most other cryptonote coins have adaptive limits with no tail emission (except Monero, above, which is a full solution).

Edit 1: Dashcoin is not to be confused with DASH (Formally known as Darkcoin, which has inherited both problems from Litecoin)
Edit 2: I found out about Monero back in 2014 because I was researching the fixed blocksize issue in Bitcoin. Only after I was satisfied that Monero did not have the fixed blocksize issue did I start to even consider Monero.
1346  Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum on: September 07, 2015, 01:32:00 AM
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The pot example/analogy gave me a little chuckle.

But more seriously, I see the same as well. What would be the best case for decentralized PoW mining if the playing field as far as mining is concerned is more "level" or "fair" when comparing CPU vs GPU vs ASICs?
...

Space heating. It could also include heating such things as swimming pools, greenhouses, even domestic hot water. Pot is not a good example since it is typically done in a clandestine manner and the need is more for light rather than heat alone. In a jurisdiction where it is legal a greenhouse full of pot could work. The reason space heating works is because the heat only has more value than the electricity consumed becasue it is cheap to distribute electricity but next to impossible to distribute heat.
1347  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: September 06, 2015, 08:46:11 PM
My take on the issue: I cannot see any validity in the speech of those who claim that the 1MB cap was designed to be forever. Actually, many a supposed friend of Bitcoin has shown himself to be a globalist agent during the debate, by claiming incredulities regarding the issue.

However, even if the current situation is untenable, it does not mean that every attempt to resolve it is the correct one that should be acted upon. Agents around this corner as well.  Roll Eyes

While the block reward is still in place there are many reasonable solutions that are "good enough". For example the quadratic penalty function in Cryptonote (Monero) or even relying on the probalility of orphan blocks to create a fee market that deters spam. The difficulty is that this blocksize debate has raised an even more fundamental question: How does one secure the network after the emission runs out? Monero has solved this with a fixed tail emission, Dogecoin also has a tail emission and so do many POS coins (Peercoin for example); however this is a non starter for Bitcoin because of the social covenant. Furthermore a fixed blocksize may even not provide for a fee market to develop, in the absence of a block reward, as the current "stress tests" are demonstrating. The small block crowd are by the way also making some very valid points.

The best I have seen to date is BIP 100 with a 50% threshold, and much higher starting limits; however this is dependent on external market factors (other crypto currencies, fiat payment methods etc.) to keep the "mining cartel" from raising the fees with no limit. I have been researching this issue for over three years and unfortunatly the more I look into this, the more discouraged about the future of Bitcoin I become.

What is needed here is a solution that allows for a dynamic blocksize limit that will respond to market forces allowing a fee market to develop, in the absence of block rewards. I am not saying that such a solution is not possible, I have simply not found it. Pending a solution, a bear I remain.
1348  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: September 06, 2015, 08:10:53 PM
I know a store in belgium who doesn't accept cash, even without the legislation that they can or can't do it.
I tried to get them into BTC, but they aren't interested...

Really don't understand why, they pay much more to the card companies...

In many countries there are no laws requiring a seller or a store to accept cash. What exists are legal tender laws that in effect force a creditor to accept cash for a debt or not be able to enforce the debt in court.

Edit: There may be exceptions where stores are required to accept cash and Denmark may actually be one.
1349  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: September 06, 2015, 07:52:18 PM
And Denmark seems to be the first one to ban cash.

Wow, I had no idea we were at the point of actual legislation being introduced.
Quote
The proposal to ban all cash transactions is being introduced ahead of the Danish election in September, in the hope that cash will be phased out as early as 2016.

Digital transactions are very popular in Denmark with a third of all Danish citizens  using the Danske Bank app, MobilePay, to pay for services and transactions. It’s unlikely that the new proposals to ban all cash transactions will be met with any opposition.

The Danish Chamber of Commerce (Dansk Erhverv) also supported the move, saying it was time shops were given the option of going cash-free.



This is not entirely true. Denmark is not banning cash, what they are doing is giving stores the right not to accept cash. http://www.theguardian.com/world/2015/may/14/no-wallet-no-worries-denmark-considering-cash-free-shops Big difference. In fact given that the popular proprietary debit solution charges a flat 1% to the merchants, this could actually create a market for crypto currencies in person transactions where non existed before.

Also Denmark is a wealthy country with an advanced welfare state. This means that there are very few poor people; the market segement least likely to use debit cards, credit cards or their smartphone app equivalents.
1350  Alternate cryptocurrencies / Altcoin Discussion / Re: Bytecoin Price Discussion/Analysis – 9/6/2015 on: September 06, 2015, 07:39:34 PM
Nope, nope, nopety nope.
I wouldn't touch bytecoin if they were giving it away for free.
I conclusion, nope.

I agree. The first fundamental problem with Bytecoin is the 82% premine / ninjamine. The question as to: Is Bytecoin a premine? (the most likely) or a ninjamine? (the position of many Bytecoin supporters) has been discussed at length in the following thread https://bitcointalk.org/index.php?topic=740112.0.
1351  Economy / Speculation / Re: When will bitcoin reach 500 USD again ? on: September 06, 2015, 02:50:45 AM
I voted never simply because of the 1 MB blocksize limit. This currently prevents any growth.

Because scalability will never be resolved, right?  Roll Eyes

Well it has not been resolved since this issue was first raised in 2010. Furthermore the current climate in the community is way less conducive to a resolution that it was before. I have been following this issue for well over three years.
1352  Economy / Speculation / Re: China Scrambles To Enforce Capital Controls - Bullish for Bitcoin? on: September 06, 2015, 01:45:55 AM
Normally this would have been very bullish for Bitcoin; but the 1 MB blocksize limit makes it at best neutral. Seriously how many transactions can 1.3 billion people generate even if only a very small fraction of them were to use Bitcoin? Why does anyone seriously expect that many transactions can fit in 1 MB blocks every 10 min?  Do the math.
1353  Economy / Speculation / Re: When will bitcoin reach 500 USD again ? on: September 06, 2015, 01:38:50 AM
I voted never simply because of the 1 MB blocksize limit. This currently prevents any growth.
1354  Economy / Speculation / Re: This drama is ridiculous... on: September 06, 2015, 01:28:50 AM
Best action at this time is selling coins and waiting for good news ...............

Good news like the barclays one?

I monitor reddit but even those news doesnt seem to affect price.. I thought it was a huge thing.

Since a bank finally recognized bitcoin to a accepted payment towards at a bank. I guess not big enough..?

http://arstechnica.co.uk/business/2015/09/barclays-to-become-the-first-major-bank-to-accept-bitcoin/

It does not help that Bitcoin is limited by protocol to close to 2 transactions per second, by the 1 MB blocksize limit. So it does not matter how many banks decide to accept Bitcoin, Bitcoin simply cannot grow.
1355  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: September 06, 2015, 01:21:54 AM
Bitcoin currently has a serious long term fundamental problem; namely the 1 MB blocksize limit that prevents any meaningful growth of the Bitcoin network. The upside potential is actually capped at close to the current transaction rate by the protocol while there remains a very significant downside risk. The risk vs return ratio is makes very little sense at current prices. Until the blocksize issue is resolved in a manner that allows for the Bitcoin network to grow, I remain a bear.

1356  Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum on: September 05, 2015, 05:18:53 AM
anyway to get back on topic.

i say my needs are not being meet in crypto. other more traditional means serve me better then anything thats come out of this community (and i'm definitely not alone, as anyone whos tried to use cryptos as a currency would see).

so what is needed in a p2p currency?

Out of curiosity. What needs are not being met?
1357  Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum on: September 05, 2015, 05:08:08 AM
...

but you see thats the point, i do have a need for a p2p currency (and within my needs is a huge market) yet that need todate is not being served.

you're expressing as if the only need for cryptocurrency is humanitarian type issues, does anyone in development really care what tribes in africa do, or feeding the homeless?  not saying it from a heartles point of view, many would help were they can, but seriously its certainly not the driving force behind the tech.

certainly way better ways to help the underdeveloped world then token efforts with cryptos.

It is not just about charity. I am talking about transactions, including for profit commerce, anywhere in the world where:

1) At least one of the participants has an income below the US poverty line. 11,770 USD for single person or 24,250 USD for a family of four. http://aspe.hhs.gov/2015-poverty-guidelines
2) It is not an in person transaction. (Cash is very much still king for in person transactions involving poor people)

I am not saying this is the only market but rather that this is a huge if not the largest market for p2p crypto currency.

Edit: In many underdeveloped parts of the world this is the vast majority of the population and many people whose income is below the US thresholds would not even be considered "poor" by local standards.
1358  Alternate cryptocurrencies / Altcoin Discussion / Re: What the size of the blockchains on the future could be? on: September 05, 2015, 04:31:06 AM
Well let's address this in a more specific way, The size of blockchain to BTC current is around 40GB, On 2012 was of 0.5 GB only, So in less of 3 years was a increase of 39.5 GB it is 98.75%, On this scale i'm not an expert but
on 2016 if will be of 80 GB at least an so on it will be huge on a point, now you could consider that you need at least a backup it does 80*2 160 GB + operating system + anothers personal data + music + photos + videos so you have your HD and uSb to limit, So how can it system be decentralized if almost of medium CPUS could dont be able of drive that charge. I dont can imagine if it get to massive adoption. Bitcoin XT look be a patch to support more transactions but for how long? Logically it never will be decentralized because almost peoples don´t will be able of storage entire blockchain and besides add use of more altcoins.
Its  the  dark side of crypto and digital systems-->   The centralizations looks inminent   The start? -->  Cloud services.   To unless that altcoins use solutions  like to re-initialize the blockchains each year over certain time period.


http://www.ncix.com/category/hard-drives-8a-109.htm

Edit: It may not be very cost effective to buy anything under 1 TB
1359  Alternate cryptocurrencies / Altcoin Discussion / Re: The state of crypto - The only serious thread on the subforum on: September 05, 2015, 04:10:19 AM
...

kinda lost when people quote banking fees, transfer, payment fees etc

because it rarely cost me anything to transfer between countries or make any online payments or purchase (i work in china often live in austalia, and have travelled internationally alot)....I've always had zero bank fees here in australia, just have to research and shop around. china have more trouble banking across the regions (kinda a strange system) then using its banking os.


most expensive payment system i've experienced is bitcoin oddly enough.


This is not an uncommon experience for many people. Same here. Why would I use Bitcoin for a domestic payment when I can get 1-2% cash back by using a credit card? The reality is that more often than not those who are involved with crypto - currency as: developers, investors / speculators, miners, investors or employees of crypto currency businesses etc., are not the primary market for the use of crypto currency as a payment method. The same online payment that "costs" me -1%, with a credit card can cost someone else 100% or more in fees.
1360  Alternate cryptocurrencies / Altcoin Discussion / Re: what's crypto(btc) need to do to achieve mass adoptions? on: September 05, 2015, 03:32:39 AM
Fill a market need that is not being met well by existing central ledger based payment systems.

1) The payer, the receiver or both are poor
2) The payment is not in person and even better the payment should cross an international boundary.
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