[AEON] Aeon Speculation

[bbc.reporter]

@stoffu. How is everyone on /r/Aeon taking the new asic friendly Aeon? Is this why we are dumped under $0.25? Are some of them selling and leaving hehe?

[stoffu]

@stoffu. How is everyone on /r/Aeon taking the new asic friendly Aeon? Is this why we are dumped under $0.25? Are some of them selling and leaving hehe?

Some like it, others don't. Those may have sold their coins and left, but this is all speculation.

[sammy007]

Still believe we are in the overshot. The closest pessimistic price of AEON is 1% of XMR = 0.00007100 BTC.

[CrazyLoaf]

@everyone. Where is americanpegasus? We need her back to say her famous words about Monero on $0.25 for Aeon hehehe.

AP is broke as far as I know and driving for Uber/Lyft now...

https://kiwifarms.net/threads/katie-charm-james-daniel-davis-americanpegasus-shade7x.32306/page-33#post-4386293

https://www.reddit.com/r/investing/comments/av3wbk/what_happened_to_uamericanpegasus/eheb4bl/

Think AP said she owned 50k XMR at one time. Shame. May have had up to $25mil at $500 XMR peak...

[phishead]

My question to all is when we will expect first ASICs being build to mine AEON and how much after that will be for sale for everyone to buy?

ASIC can't generate more coins than allowed by protocol. The number of coins will be the same. And of course nobody gonna build ASIC for a coin with 2mm market cap. If AEON cap will increase to 100-200mm manufacturers will consider building one.

By saying that I like ASIC friendliness I mean finally there is no wild goose chase for dumb ASIC resistance.

It was a valid goose chase and still is for some projects. You have to try something out first and if it does not work, try something different. If monero devs (and others) didn’t try asic resistance, nobody would have known if it indeed was possible or not. It is not possible right now with technical design capabilities. Maybe it will be some day but it’s not worth it to spend development money and time fighting something that is designed to do what your project is doing 24/7 anyway.

I disagree.

A quote from the first paragraph of the CryptoNote whitepaper Section 5 (Egalitarian Proof-of-work):

Our primary goal is to close the gap between CPU (majority) and GPU/FPGA/ASIC (minority) miners. It is appropriate that some users can have a certain advantage over others, but their investments should grow at least linearly with the power. More generally, producing special-purpose devices has to be as less profitable as possible.

I didn't find anything wrong here when I saw it the first time, but on hindsight I find it fundamentally flawed; mining will/should be one of the most important tasks to humanity at large if the currency were to serve globally, and hence trying to make the process more efficient is just the nature of human and free market. ASIC resistance means to ban all such attempts and to change the algorithm when the current attempt fails.

If Monero developers continue to be caught up in many flawed mantra in CryptoNote whitepaper, it is doomed to fail.

Yeah but if we are rooting for efficient & centralized, wouldn't that just leave us with Visa??

I know it's an extreme, but hopefully you see my point.  Cryptocurrencies were meant to be decentralized.  Having 10 or so entities controlling 80-90% of Bitcoin's hashing power is insane and the closer you get to a monopoly, the easier it will be for governments to force that monopoly/duopoly/etc. to censor transactions and corrupt the chain.

Visa doesn't need a blockchain.

Your point has been raised countless times in never ending debates on ASIC resistance/friendliness with no hope of coming to an agreement. Let's not repeat it here. If you don't like ASIC friendliness, stop bothering about AEON and move on.

And your point about ASIC friendliness has been raised countless times too... so... idk what to tell you, but you shouldn’t expect everyone who supports a coin to have all the same philosophies of what might work better than what Bitcoin offers already.

And I will always be interested in Monero specifically as well as AEON since it was the early alt coin to Monero.

[stoffu]

My question to all is when we will expect first ASICs being build to mine AEON and how much after that will be for sale for everyone to buy?

ASIC can't generate more coins than allowed by protocol. The number of coins will be the same. And of course nobody gonna build ASIC for a coin with 2mm market cap. If AEON cap will increase to 100-200mm manufacturers will consider building one.

By saying that I like ASIC friendliness I mean finally there is no wild goose chase for dumb ASIC resistance.

It was a valid goose chase and still is for some projects. You have to try something out first and if it does not work, try something different. If monero devs (and others) didn’t try asic resistance, nobody would have known if it indeed was possible or not. It is not possible right now with technical design capabilities. Maybe it will be some day but it’s not worth it to spend development money and time fighting something that is designed to do what your project is doing 24/7 anyway.

I disagree.

A quote from the first paragraph of the CryptoNote whitepaper Section 5 (Egalitarian Proof-of-work):

Our primary goal is to close the gap between CPU (majority) and GPU/FPGA/ASIC (minority) miners. It is appropriate that some users can have a certain advantage over others, but their investments should grow at least linearly with the power. More generally, producing special-purpose devices has to be as less profitable as possible.

I didn't find anything wrong here when I saw it the first time, but on hindsight I find it fundamentally flawed; mining will/should be one of the most important tasks to humanity at large if the currency were to serve globally, and hence trying to make the process more efficient is just the nature of human and free market. ASIC resistance means to ban all such attempts and to change the algorithm when the current attempt fails.

If Monero developers continue to be caught up in many flawed mantra in CryptoNote whitepaper, it is doomed to fail.

Yeah but if we are rooting for efficient & centralized, wouldn't that just leave us with Visa??

I know it's an extreme, but hopefully you see my point.  Cryptocurrencies were meant to be decentralized.  Having 10 or so entities controlling 80-90% of Bitcoin's hashing power is insane and the closer you get to a monopoly, the easier it will be for governments to force that monopoly/duopoly/etc. to censor transactions and corrupt the chain.

Visa doesn't need a blockchain.

Your point has been raised countless times in never ending debates on ASIC resistance/friendliness with no hope of coming to an agreement. Let's not repeat it here. If you don't like ASIC friendliness, stop bothering about AEON and move on.

And your point about ASIC friendliness has been raised countless times too... so... idk what to tell you, but you shouldn’t expect everyone who supports a coin to have all the same philosophies of what might work better than what Bitcoin offers already.

And I will always be interested in Monero specifically as well as AEON since it was the early alt coin to Monero.

Supporting (holding) a coin that goes in a direction that you think is wrong is just stupid, so I'm kindly advising you not to do so (but you're free to ignore my advice). Also, I find it useless or borderline trolling to stir up the ASIC debate here since it's already decided after intense discussions. It's like criticizing Zcash's trusted setup in their forum.

[bbc.reporter]

@everyone. Where is americanpegasus? We need her back to say her famous words about Monero on $0.25 for Aeon hehehe.

AP is broke as far as I know and driving for Uber/Lyft now...

https://kiwifarms.net/threads/katie-charm-james-daniel-davis-americanpegasus-shade7x.32306/page-33#post-4386293

https://www.reddit.com/r/investing/comments/av3wbk/what_happened_to_uamericanpegasus/eheb4bl/

Think AP said she owned 50k XMR at one time. Shame. May have had up to $25mil at $500 XMR peak...

Similar to how Ricciardo Spagni lost all his private keys in a boating accident hehehe? Also, americanpegasus lives in America. She will have taxes to pay if she was not broke and if she was broke, she will not leave cryptospace.

She might be living a simple life that she wants with a big secret bag of cryptocoins.

[phishead]

Supporting (holding) a coin that goes in a direction that you think is wrong is just stupid, so I'm kindly advising you not to do so (but you're free to ignore my advice). Also, I find it useless or borderline trolling to stir up the ASIC debate here since it's already decided after intense discussions. It's like criticizing Zcash's trusted setup in their forum.

Open sourced projects are constantly criticized and improved on... that’s the point of open source projects... and how exactly am I trolling??

I like AEON because it’s a cryptonote coin that has close ties to monero and I view it as a hedge to Monero.

And people come to /r/Monero or on the monero threads here and criticize certain aspects all the time, only to be not censored and debated.

[jwinterm]

Supporting (holding) a coin that goes in a direction that you think is wrong is just stupid, so I'm kindly advising you not to do so (but you're free to ignore my advice). Also, I find it useless or borderline trolling to stir up the ASIC debate here since it's already decided after intense discussions. It's like criticizing Zcash's trusted setup in their forum.

Open sourced projects are constantly criticized and improved on... that’s the point of open source projects... and how exactly am I trolling??

I like AEON because it’s a cryptonote coin that has close ties to monero and I view it as a hedge to Monero.

And people come to /r/Monero or on the monero threads here and criticize certain aspects all the time, only to be not censored and debated.

I don't think it's stupid to doubt your own wisdom and hedge accordingly. Personally I don't think monero made the right decision with respect to randomx v. sha3, but I didn't dump my monero. There's other factors to consider, such as community, liquidity, history, etc, besides the fact that I may just be flat out wrong.

[Febo]

Supporting (holding) a coin that goes in a direction that you think is wrong is just stupid, so I'm kindly advising you not to do so (but you're free to ignore my advice). Also, I find it useless or borderline trolling to stir up the ASIC debate here since it's already decided after intense discussions. It's like criticizing Zcash's trusted setup in their forum.

Open sourced projects are constantly criticized and improved on... that’s the point of open source projects... and how exactly am I trolling??

I like AEON because it’s a cryptonote coin that has close ties to monero and I view it as a hedge to Monero.

And people come to /r/Monero or on the monero threads here and criticize certain aspects all the time, only to be not censored and debated.

I don't think it's stupid to doubt your own wisdom and hedge accordingly. Personally I don't think monero made the right decision with respect to randomx v. sha3, but I didn't dump my monero. There's other factors to consider, such as community, liquidity, history, etc, besides the fact that I may just be flat out wrong.

I dont think anyone made a mistake or wrong decision. But maybe I am underestimating impact of mining.  Cryptocurrencies are still an experiment. And with experiments you need to experiment to prove you are doing something right. Doing nothing would be worst.

[stoffu]

Supporting (holding) a coin that goes in a direction that you think is wrong is just stupid, so I'm kindly advising you not to do so (but you're free to ignore my advice). Also, I find it useless or borderline trolling to stir up the ASIC debate here since it's already decided after intense discussions. It's like criticizing Zcash's trusted setup in their forum.

Open sourced projects are constantly criticized and improved on... that’s the point of open source projects... and how exactly am I trolling??

I like AEON because it’s a cryptonote coin that has close ties to monero and I view it as a hedge to Monero.

And people come to /r/Monero or on the monero threads here and criticize certain aspects all the time, only to be not censored and debated.

Your appearing to be trolling is just how I see it. I expressed my criticisms and doubts about ASIC resistance in intense debates previously (https://github.com/monero-project/meta/issues/316 & https://github.com/monero-project/meta/issues/321) which were dismissed by the majority in the end. As such I will never voice my opinion about ASIC resistance again in any Monero channels because I know it's no use and is mostly equivalent to trolling. Expressing your criticism against ASIC friendliness here seems useless to me for the same reason.

There are certain critical aspects in cryptocurrencies that are very unlikely to change until facing existential crisis (e.g. Bitcoin's capped supply, Monero's ASIC resistance, Zcash's trusted setup). Bringing those critical points to debate in their discussion channels seems largely useless to me; the right approach IMO would be to start a new coin (or lead an existing coin) and proceed in the direction you believe is right.

[bbc.reporter]

Supporting (holding) a coin that goes in a direction that you think is wrong is just stupid, so I'm kindly advising you not to do so (but you're free to ignore my advice). Also, I find it useless or borderline trolling to stir up the ASIC debate here since it's already decided after intense discussions. It's like criticizing Zcash's trusted setup in their forum.

Open sourced projects are constantly criticized and improved on... that’s the point of open source projects... and how exactly am I trolling??

I like AEON because it’s a cryptonote coin that has close ties to monero and I view it as a hedge to Monero.

And people come to /r/Monero or on the monero threads here and criticize certain aspects all the time, only to be not censored and debated.

I don't think it's stupid to doubt your own wisdom and hedge accordingly. Personally I don't think monero made the right decision with respect to randomx v. sha3, but I didn't dump my monero. There's other factors to consider, such as community, liquidity, history, etc, besides the fact that I may just be flat out wrong.

There were more decisions that Monero made that appeared to be in a hurry to have things work and done without foreseeing the longterm effects. A heavier blockchain because of RingCT was one of them.

@stoffu. It is not trolling. Some users take more time to accept. However, I support the Monero development team if they want to be the experimental coin for Asic resistance.

[sammy007]

At current price the monthly emission of AEON is equal to ~1.3 BTC. ~15 BTC annual.

[Febo]

At current price the monthly emission of AEON is equal to ~1.3 BTC. ~15 BTC annual.

Are you sure?  Considering this sheet: https://docs.google.com/spreadsheets/d/13AjSZJcYd5UoMCBRj3-9XliUhPUkagEjF_NzXsDmLgQ/edit#gid=0

At 15.831.459 AEON supply we should have 3589 AEON mined daily. That is 0.09 btc or 2.7 btc a month.  Yearly emission inflation is 8.27%

Is that spreadsheet inaccurate?

[sammy007]

At current price the monthly emission of AEON is equal to ~1.3 BTC. ~15 BTC annual.

Are you sure?  Considering this sheet: https://docs.google.com/spreadsheets/d/13AjSZJcYd5UoMCBRj3-9XliUhPUkagEjF_NzXsDmLgQ/edit#gid=0

At 15.831.459 AEON supply we should have 3589 AEON mined daily. That is 0.09 btc or 2.7 btc a month.  Yearly emission inflation is 8.27%

Is that spreadsheet inaccurate?

I used block reward (4.85) from one of pools, 4 minute block time and current price.

[elisabetheva]

@stoffu. How is everyone on /r/Aeon taking the new asic friendly Aeon? Is this why we are dumped under $0.25? Are some of them selling and leaving hehe?

Some like it, others don't. Those may have sold their coins and left, but this is all speculation.

Speculation in crypto is common as well as many people will do analysis to make sales and purchases. Aeon is actually quite good movement and I agree that many are selling so at this time the price is somewhat starting to decline but it is certain to move back at a pretty good price, it never hurts to buy when prices are down.

[bbc.reporter]

@americanpegasus. If you really lost everything, if you are really driving Uber to have money, Aeon is here waiting only under $0.25 for you and waiting for your famous speech hehehe.

[bigslimvdub]

@americanpegasus. If you really lost everything, if you are really driving Uber to have money, Aeon is here waiting only under $0.25 for you and waiting for your famous speech hehehe.

It’s really a sad story.

And yes Aeon is very cheap to buy right now.

[sammy007]

Aeon is better investment than Monero

Coins share almost the same roadmap, the latter is 284 times cheaper than the former. Obviously monero is not coming to coinbase, gemini and other regulated exchanges with the biggest risk of losing poloniex and bittrex due to big regulatory cloud. There is no other exchanges for Monero except a money laundering device called bisq and some chinese garbage bucket shops with fake volume ready to screw you over with some retarded KYC shit any minute. The risk of investing in Aeon is low, because it's extremely cheap and even delisting from Bittrex will not affect its price hard, Monero can lose 90% of its price in case that happens. The upside potential is also bigger in Aeon, Monero need a lot of new stupid money to pour into it in order to recover from current price to ATH for instance. There is more chances to make conditional 10x on Aeon than on Monero.

[estenity]

US shorted BTC as soon as futures market opened (end of 2017, early 2018), and bankers have an important role in bear market, because they fear a loss for their biz :

https://www.coindesk.com/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says

conversely blockchain use is greatly expanding nowadays and becomes politics: see san francisco blockchain congress this fall 2019

https://www.youtube.com/watch?v=ouc4muRyYPE&feature=youtu.be

youtu.be/ouc4muRyYPE

so altcoins must decouple from btc probable manipulation.