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Author Topic: [ANN][MRO] Monero - an anonymous coin based on CryptoNote technology  (Read 23217 times)
monero
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April 23, 2014, 10:13:52 PM
Last edit: April 25, 2014, 12:40:31 AM by monero
 #1

New thread: https://bitcointalk.org/index.php?topic=583449.new#new
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mickey_miner
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April 23, 2014, 10:19:30 PM
 #2

What status of BMR currently holding?


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smooth
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April 23, 2014, 10:23:14 PM
 #3

What status of BMR currently holding?

No change. This is just a rename/rebrand/reannounce, since the first one was a bit sloppy


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April 23, 2014, 10:24:04 PM
Last edit: April 23, 2014, 10:34:23 PM by monero
 #4

No change, this is just a renaming. In the future, the binaries will have to be changed, as well as some URL, but that's all. By the way, this very account (monero) is shared by several user and is meant to make it easier to change the OP in case of vacancy of the OP. This idea of a shared OP comes from Karmacoin.

Some more things to come:
  • A logo
  • A website (URL will be monero.cc)
  • A GUI wallet
tacotime
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April 23, 2014, 10:57:02 PM
 #5

Before this thread is too big, I would like to state that a bug has been identified in the emission curve and we are currently in the process of fixing it (me, TFT, and smooth).

Currently coins are emitted at double the rate that was intended.  We will correct this in the future, likely by bitshifting values of outputs before a certain height, and then correcting 1 min blocks to 2 min blocks.  The changes proposed will be published to a Monero Improvement Protocol on github.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
cryptowho
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April 23, 2014, 11:17:06 PM
 #6

is there a hidden gpu miner?

looking for C++ coders , web-dev and coin-devs to join karmacoin team. We are trying to expand. we have so many goals. Challenge accepted?  PM me.
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April 23, 2014, 11:18:33 PM
 #7

is there a hidden gpu miner?

I doubt it, network is equivalent to about 400 good CPUs right now.  Making the hashing algorithm implemented on a GPU is non-trivial.

Reminds me of Litecoin back in late 2012. Smiley

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
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April 23, 2014, 11:39:16 PM
 #8

is there a hidden gpu miner?

I doubt it, network is equivalent to about 400 good CPUs right now.  Making the hashing algorithm implemented on a GPU is non-trivial.

Reminds me of Litecoin back in late 2012. Smiley


To expand on this, if you read the Cryptonote whitepaper (see https://cryptonote.org/whitepaper.pdf) you'll see that the PoW, even if implemented on a GPU, would be unlikely to give a significant advantage, as it is limited by memory random access speed rather than bandwidth (the traditional strength of GPUs for hashing).
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April 23, 2014, 11:45:53 PM
 #9

One can never be absolutely certain sure there won't be a clever shortcut found but it seems plausible this may remain a CPU coin for a very long time.

An ASIC built especially to speed up random access to memory has a better chance to work here than current GPUs. GPUs may get bigger caches over time, but then you can't be sure that CPUs won't also speed up access to their L3 cache, get more cores, and start to look more like GPUs anyway (and GPUs are being built into CPUs).

It is possible this may stay mineable by regular common computers (whatever those are) indefinitely.





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April 24, 2014, 12:14:49 AM
 #10

I want to buy 1000 moneo, PM me the BTC price. Thank
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April 24, 2014, 12:17:51 AM
 #11

I want to buy 1000 moneo, PM me the BTC price. Thank

Trading thread is over here. It says Bitmonero BMR but that's the same thing (former name). Will be fixed there soon.
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April 24, 2014, 12:56:11 AM
 #12

so i create a wallet via password


if i create a new wallet. if i set the same password. would this still be the same wallet generated?

looking for C++ coders , web-dev and coin-devs to join karmacoin team. We are trying to expand. we have so many goals. Challenge accepted?  PM me.
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April 24, 2014, 01:01:22 AM
 #13

so i create a wallet via password


if i create a new wallet. if i set the same password. would this still be the same wallet generated?


No the password is just for keeping the wallet safe. You can even use no password (not recommended).

Each generated wallet is different. You can copy the wallet files if you want the same wallet somewhere else.

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April 24, 2014, 01:05:43 AM
 #14

Moving discussion to more relevant thread, previous found here:

https://bitcointalk.org/index.php?topic=578192.msg6364026#msg6364026


I have to say that I am surprised that such an idea is even being countenanced - there are several obvious arguments against it.

Perception - what kind of uproar would happen if this was tried on a more established coin? How can users be expected to trust a coin where it is perceived that the devs are able and willing to "dip" into people's wallets to solve problems?

Technically - people are trying to suggest that this will make no difference since it applies to reward and supply, which *might* be fair enough if the cap was halved also, but it isn't. People's holdings in the coin are being halved, however it is dressed up.

Market price - How can introducing uncertainty in the contents of people's wallets possibly help market price?

I may well be making a fool of myself here, but I have never heard of such a fix before, unless you had savings in a Cypriot bank - has this ever been done for another coin?

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April 24, 2014, 01:12:51 AM
 #15

Moving discussion to more relevant thread, previous found here:

https://bitcointalk.org/index.php?topic=578192.msg6364026#msg6364026


I have to say that I am surprised that such an idea is even being countenanced - there are several obvious arguments against it.

Perception - what kind of uproar would happen if this was tried on a more established coin. How can users be expected to trust a coin where it is perceived that the devs are able and willing to "dip" into people's wallets to solve problems.

Technically - people are trying to suggest that this will make no difference since it applies to reward and supply, which *might* be fair enough if the cap was halved also, but it isn't. People's holdings in the coin are being halved, however it is dressed up.

Market price - How can introducing uncertainty in the contents of people's wallets possibly help market price?

I may well be making a fool of myself here, but I have never heard of such a fix before, unless you had savings in a Cypriot bank - has this ever been done for another coin?

You make good points but unfortunately conflicting statements were made and it isn't possible to stick to them all. It was said that this coin had a mining reward schedule similar to bitcoin. In fact it is twice as fast as intended, even even a bit more than twice as fast as bitcoin.

If you acquired your coins on the basis of the advertised reward schedule, you would be disappointed, and rightfully so, as more coins come to into existence more quickly than you were led to believe.

To simply ignore that aspect of the bug is highly problematic. Every solution may be highly problematic, but the one being proposed was agreed as being the least bad by most of the major stakeholders. Maybe it will still not work, this coin will collapse, and there will need to be a relaunch, in which case all your coins will likely be worthless. I hope that doesn't happen.

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April 24, 2014, 01:14:21 AM
 #16

Moving discussion to more relevant thread, previous found here:

https://bitcointalk.org/index.php?topic=578192.msg6364026#msg6364026


I have to say that I am surprised that such an idea is even being countenanced - there are several obvious arguments against it.

Perception - what kind of uproar would happen if this was tried on a more established coin. How can users be expected to trust a coin where it is perceived that the devs are able and willing to "dip" into people's wallets to solve problems.

Technically - people are trying to suggest that this will make no difference since it applies to reward and supply, which *might* be fair enough if the cap was halved also, but it isn't. People's holdings in the coin are being halved, however it is dressed up.

Market price - How can introducing uncertainty in the contents of people's wallets possibly help market price?

I may well be making a fool of myself here, but I have never heard of such a fix before, unless you had savings in a Cypriot bank - has this ever been done for another coin?

This coin wasn't working as advertised. It was supposed to be mined slowly like BTC but under the current emission schedule, 39% would be mined by the first year and 86% by the fourth year. Those targets have been moved out by a factor of 2, i.e. 86% mined by year 8, which is more like BTC's 75% by year 8. So the cap has been moved out much further into the future, constraining present and near-term supply, which is what determines the price.
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April 24, 2014, 01:17:26 AM
 #17

how many coins are out already? how do i tell i synched in?

looking for C++ coders , web-dev and coin-devs to join karmacoin team. We are trying to expand. we have so many goals. Challenge accepted?  PM me.
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April 24, 2014, 01:19:33 AM
 #18

I think correct the coin now while early.  Not many blocks mined so if fixed now future of coin is strong.


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Azbit
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smooth
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April 24, 2014, 01:20:33 AM
 #19

how many coins are out already? how do i tell i synched in?

There are approximately 150k coins. There will likely be a "reverse stock split" turning these into 75k "new" coins at some point, because the mining reward is currently twice what is intended.

Syncing the daemon is currently pretty fast as there isn't much of a block chain. Type refresh in the wallet to sync it.

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April 24, 2014, 01:23:32 AM
 #20

So long as the process is fair and transparent it makes no difference what the number is... n or n/2 is the same relative value so long as the /2 is applied to everyone. Correcting this now will avoid people accusing the coin of a favourable premine for people who mined in the first week.
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