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Author Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency  (Read 4565617 times)
MoneroMooo
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December 31, 2016, 04:14:34 PM
 #33621

Hmm this paste has been hidden Sad

Sorry, I appear to have miscopied it: https://paste.fedoraproject.org/506116/17116821/

Which irc BTW?

Freenode, #monero-pools
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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ocminer
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December 31, 2016, 04:16:16 PM
 #33622

Hmm this paste has been hidden Sad

Sorry, I appear to have miscopied it: https://paste.fedoraproject.org/506116/17116821/

Which irc BTW?

Freenode, #monero-pools

OK I'll join your chat tomorrow and we can talk about it, thanks!

suprnova pools - reliable mining pools - #suprnova on freenet
https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools
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December 31, 2016, 04:16:21 PM
 #33623


There's actually a more appropriate subforum called Pools (Altcoins).



I see.  I was hoping someone with experience mining Monero could provide a simple answer to my question so I came to the Monero forum.   My question is specific to Monero and Monero mining pools.  I assumed the best place to find people with Monero experience would be in the Monero thread.  Of course the "Pools" thread is about mining pools and some of the millions of posts in that thread are even about Monero mining.  I guess I'll try that thread in the hopes that someone following that threat can answer my Monero question.  Thanks.

Then again, I can mine and trade ZCash and ETH which are both more profitable right now than XMR.

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December 31, 2016, 04:35:14 PM
 #33624

I see.  I was hoping someone with experience mining Monero could provide a simple answer to my question so I came to the Monero forum.   My question is specific to Monero and Monero mining pools.

I can't answer your question, but I can at least say that the 0.88 estimation you mentioned seemed correct, based your claimed hash rate and the network hash rate at the time. The network hash rate did fluctuate a lot (between 44 MH/s and 50MH/s) recently though, which may be a factor too.
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December 31, 2016, 05:04:14 PM
 #33625


There's actually a more appropriate subforum called Pools (Altcoins).



I see.  I was hoping someone with experience mining Monero could provide a simple answer to my question so I came to the Monero forum.   My question is specific to Monero and Monero mining pools.  I assumed the best place to find people with Monero experience would be in the Monero thread.  Of course the "Pools" thread is about mining pools and some of the millions of posts in that thread are even about Monero mining.  I guess I'll try that thread in the hopes that someone following that threat can answer my Monero question.  Thanks.

Then again, I can mine and trade ZCash and ETH which are both more profitable right now than XMR.




There is a xmr mining thread in that sub forum: https://bitcointalk.org/index.php?topic=653467.940

it´s quite active so someone should be able to answer your questions.

I know that your hashrate can change quite alot depending on what pool you use. Never really found out why. I just changed pools until I found one that gave me about the right amount of hashes.
CryptoRambler
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December 31, 2016, 05:05:23 PM
 #33626

visdude are you describing p2pool ?

I am not entirely familiar with the inner workings of P2Pool but I remember it could not garner enough hashing power to compete with the big pools back in the day, hence it failed. I also remember its peculiarity of needing a special or customized version/release of certain mining software in conjunction with some mining hardware.  I surmised that it was still subject to Bitcoin's winner-take-all lottery mining reward implementation and therefore still functioned as an "external" mining pool (outside of core/protocol)...still had to compete with other centralized "external" pools for those winner-take-all block rewards to be divvied up among the participants. Is that an accurate assessment on my part? I mean, Bitcoin's block reward rule have not changed since the genesis block as far as I know.

The model that I am thinking of is for a cryptocurrency to have a pool-like block reward distribution in its core/protocol, i.e. based on hashing share of participating "solo" miners instead of the current winner-take-all lottery reward paradigm. Whether it can be technically implemented or not, I do not know as I am not a coder; just a user with a somewhat wild imagination. If it can be technically implemented, the motivation to establish centralized "external" pools would no longer exist then as the block reward is already divvied up according to shares out of the gate or from the get-go.



So then the current block rewards become something based on work performed, not based on some method of luck. This seems like a very good egalitarian voting system, where each vote counts as one that is deserved

Yes. A paradigm shift from a competitive/gambling block reward model to a distributed or more accurately, a "cooperative" model. The nature or principle of Monero and other similar cryptocurrencies is unmistakably egalitarian in itself (all nodes are equal). So why not adopt the same principle in its mining reward implementation?



So to make this "egalitarian mining" or "fair mining work for pay", would the code changes need to be made to core, mining, and pool source code?

It seems pretty straightforward to implement, as the block rewards would simply be each in relation to each miners hash for a specified period of time - maybe daily work for daily pay is a starting point.

I guess the first question to be answered is how often this block reward would be paid, as expressed in time vs blocks. It seems intuitive that a 24 hour period would be used, but maybe a 12 hour or 1 hour period is better?

It seems that the communication of each miners daily PoW would need to be encrypted and sent to the network for inclusion in the blockchain, and it would be processed like a transaction, is this correct?

 That might add an additional component of blockchain bloat that will have to be dealt with
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December 31, 2016, 09:34:12 PM
Last edit: December 31, 2016, 09:49:32 PM by visdude
 #33627

visdude are you describing p2pool ?

I am not entirely familiar with the inner workings of P2Pool but I remember it could not garner enough hashing power to compete with the big pools back in the day, hence it failed. I also remember its peculiarity of needing a special or customized version/release of certain mining software in conjunction with some mining hardware.  I surmised that it was still subject to Bitcoin's winner-take-all lottery mining reward implementation and therefore still functioned as an "external" mining pool (outside of core/protocol)...still had to compete with other centralized "external" pools for those winner-take-all block rewards to be divvied up among the participants. Is that an accurate assessment on my part? I mean, Bitcoin's block reward rule have not changed since the genesis block as far as I know.

The model that I am thinking of is for a cryptocurrency to have a pool-like block reward distribution in its core/protocol, i.e. based on hashing share of participating "solo" miners instead of the current winner-take-all lottery reward paradigm. Whether it can be technically implemented or not, I do not know as I am not a coder; just a user with a somewhat wild imagination. If it can be technically implemented, the motivation to establish centralized "external" pools would no longer exist then as the block reward is already divvied up according to shares out of the gate or from the get-go.



So then the current block rewards become something based on work performed, not based on some method of luck. This seems like a very good egalitarian voting system, where each vote counts as one that is deserved

Yes. A paradigm shift from a competitive/gambling block reward model to a distributed or more accurately, a "cooperative" model. The nature or principle of Monero and other similar cryptocurrencies is unmistakably egalitarian in itself (all nodes are equal). So why not adopt the same principle in its mining reward implementation?



So to make this "egalitarian mining" or "fair mining work for pay", would the code changes need to be made to core, mining, and pool source code?

It seems pretty straightforward to implement, as the block rewards would simply be each in relation to each miners hash for a specified period of time - maybe daily work for daily pay is a starting point.

I guess the first question to be answered is how often this block reward would be paid, as expressed in time vs blocks. It seems intuitive that a 24 hour period would be used, but maybe a 12 hour or 1 hour period is better?

It seems that the communication of each miners daily PoW would need to be encrypted and sent to the network for inclusion in the blockchain, and it would be processed like a transaction, is this correct?

 That might add an additional component of blockchain bloat that will have to be dealt with

I think "co-op mining" would be a more approriate term. It also has a community-oriented connotation rather than political.

You obviously have a better handle on coding concepts than I do. I got zilch. All I have is an imagination with a sprinkling of common sense and logic here and there.

Simplistically, why not just take the pool mining concept and apply it as a sort of module in the existing core software to handle the divvying up of a block reward according to shares and distribute it to miners' wallets? Computing resources to handle such extra processing shouldn't be an issue as the "network" virtually becomes a supercomputer (so I read). Everything else stays the same including block frequency and reward. I don't imagine it would create a significant blockchain bloat since they're just regular transactions going to certain wallets (something pools already do anyway) albeit originating from coinbase.

Anyway, as my post at the top of this page stated, this cannot be applied to Monero nor did I suggest it to be so. It was just a reaction to the current and ongoing development of solo/pool mining features in the Monero Wallet GUI which I thought was relative to what I had in mind. Therefore, this topic is no longer within the scope of this thread. Perhaps further discussion in the tech/development forum would be in order for way smarter people than I'll ever be to mull over.

m4nki
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January 01, 2017, 09:18:38 PM
 #33628

Good time ahead for Monero.

Played around with the GUI (I know what a scammer, right?) and have to say I like it a lot!

Easy usability and the privacy regulator is neat.

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January 02, 2017, 01:02:59 PM
 #33629

monero.xminingpool.com/ is reliable to mine in? or what is the best pool with lowest fee (1% or less) that allows high ping from america or has low ping for america

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January 02, 2017, 01:39:04 PM
 #33630

monero.xminingpool.com/ is reliable to mine in? or what is the best pool with lowest fee (1% or less) that allows high ping from america or has low ping for america

I would definitely stay away from that xminingpool. 

As far as ping you can check for yourself.

2 pools in the US are moneroworld.com and monerohash.com and both list some other pools.  There is also an incomplete list on the first page of this thread.
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January 02, 2017, 04:52:22 PM
 #33631

Interesting news - just spreading the word:

http://www.prunderground.com/gui-wallet-released-by-monero-as-underground-banks-in-china-wait-to-ditch-bitcoin-mid-january/0084114/

Can't vouch for its truth, but it won't hurt - and we're over $200 million market cap now....

Smiley

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January 02, 2017, 04:55:40 PM
 #33632

monero.xminingpool.com/ is reliable to mine in? or what is the best pool with lowest fee (1% or less) that allows high ping from america or has low ping for america

I would definitely stay away from that xminingpool. 

As far as ping you can check for yourself.

2 pools in the US are moneroworld.com and monerohash.com and both list some other pools.  There is also an incomplete list on the first page of this thread.
the minmum withdrawl for one of those is 1XMR I guess if there is any with a modifiable withdrawl amount

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January 02, 2017, 05:12:33 PM
 #33633

In other news Kraken takes on XMR:

http://blog.kraken.com/post/155126375697/kraken-launches-monero-trading

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January 02, 2017, 06:24:28 PM
 #33634

What does the expected hard fork on 5th means? Price is going up or down?

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January 02, 2017, 06:39:38 PM
 #33635

Dont forget to check out XMR's i2p project: https://github.com/monero-project/kovri

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January 02, 2017, 07:12:58 PM
 #33636

Kraken is great news but it's a shame they messed up their blog post and are talking about the HF being on 5th January. I emailed them to correct this, and got automated response (may take 48hrs to get back etc), but perhaps one of the devs who is in direct contact with them can give them a nudge and get it corrected as soon as possible   Wink
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January 02, 2017, 08:07:33 PM
 #33637

Yes the hardfork is at block 1220516 and because of the mining difficulty changing rapidly at times over the last couple of months, the estimated time for the hardfork has changed and is now early on the 10th.
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January 02, 2017, 08:15:43 PM
 #33638

monero.xminingpool.com/ is reliable to mine in? or what is the best pool with lowest fee (1% or less) that allows high ping from america or has low ping for america

I would definitely stay away from that xminingpool. 

As far as ping you can check for yourself.

2 pools in the US are moneroworld.com and monerohash.com and both list some other pools.  There is also an incomplete list on the first page of this thread.
the minmum withdrawl for one of those is 1XMR I guess if there is any with a modifiable withdrawl amount

Moneroworld recently changed their payout from 1 to 0.3 so it's now the same as monerohash.  Most pools are 0.5 but you can easily check the particulars of each pool on their sites.

The network HR is now at an ATH of well over 50MH/s and will only increase from here.
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January 02, 2017, 08:34:53 PM
 #33639

Yes the hardfork is at block 1220516 and because of the mining difficulty changing rapidly at times over the last couple of months, the estimated time for the hardfork has changed and is now early on the 10th.

Thanks nioc, I have forwarded this (knew rough time but not exact block). One would hope they actually have a clue about this and the blog was written in haste by a PR guy. Does he even crypto ??  Cheesy
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January 02, 2017, 08:35:48 PM
 #33640

that's great news, I think it might be to boost the popularity monero future
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