[XMR] Monero - A secure, private, untraceable cryptocurrency

[eizh]

Better question would be "why are XMR addresses some 3-5 times longer than BTC ones". For example, I don't know why. It would be nice, if somewhat short-alias system being applied to XMR addresses... But it is still very very tiny wish to devs.

This isn't your "true" address that coins go into. It's used (along with some random data) to automatically generate new addresses for every transaction. It needs to be this long by design because it actually consists of two parts. This is the first layer of privacy (before ring signatures) and it makes blockchain analysis much harder.

And yes, the address prefix 4 is hardcoded in XMR's configuration files.

[drawingthesun]

Why is there so much wrong? I hope anyone help me, thank you very much!

Please please.
When you start bitmonerod
Type :
set_log 0
and stop reading it.

Perhaps the log should read the current progress of chain download by default, and nothing else?

Aren't some of the messages important?  If so what setting would give you those?  

Some are, but very few. You can change your logging level if you need to see more messages.

At the moment my client runs red text all the time, yet I see no change to the usability of Monero. I can send and receive coins with no issue.

I just think the bombardment of messages confuses the user and serves no real purpose. They are warnings in a very minor way and relate more to the state of the network than how your client is handling it.

If the progress bar stops progressing then perhaps have an option to reveal more messages.

[David Latapie]

Donation: for now, the destination address is hardcoded to zone117x's address. It may change later.
We do not show closed-source because there is enough open-source pools (contrary to miners)

By this logic you shouldn't be adding any new pools to the list, and you shouldn't list any closed source miners. Seems like people really hate minergate... The list should be neutral.

I fail to sse how you statement contradicts mine.

[Jcw188]

Hey guys, I've already posted something like this here, but I'm just eager to share once again:

Poloniex


Hitbtc


As you can see, the price on Poloniex is really stable, while Hitbtc's still fluctuating. I've already managed to secure a couple of good deals, so I think it's a good moment to jump on the arbitrage bandwagon, if anyone was looking for the opportunity.

[fluffypony]

Some are, but very few. You can change your logging level if you need to see more messages.

At the moment my client runs red text all the time, yet I see no change to the usability of Monero. I can send and receive coins with no issue.

I just think the bombardment of messages confuses the user and serves no real purpose. They are warnings in a very minor way and relate more to the state of the network than how your client is handling it.

If the progress bar stops progressing then perhaps have an option to reveal more messages.

Well, instead of that what we're doing is taking each of the common "error" messages, investigating why they occur, and then figuring out whether we need to handle it or whether it's a pseudo-error and can be discarded without notifying at all. Some of them are, for instance, occurring because Monero doesn't obey OS resource constraints, and we need to make it more resource-aware. That having been said, that specific error doesn't cause any problems per se; Monero just asks the OS for an extra network connection or whatever, and the OS says "no", and then Monero tries again a few minutes later because it's not a very clever panda bear at the moment.

[oblox]

Has there been any discussion on revising the block reward to curb the immense inflation during the first 4 years?

[statdude]

Has there been any discussion on revising the block reward to curb the immense inflation during the first 4 years?

Sorry, that's not happening.
It's a similar curve to bitcoin.
Bitcoin was cheap early on. Now it's not.
Monero is for those that are more patient than the average altcoiner.

[fluffypony]

Has there been any discussion on revising the block reward to curb the immense inflation during the first 4 years?

That would immediately turn Monero into an instamined scamcoin, so no, not happening. Getting a large portion of coins out and into the hands of people is a good thing.

[oblox]

Has there been any discussion on revising the block reward to curb the immense inflation during the first 4 years?

Sorry, that's not happening.
It's a similar curve to bitcoin.
Bitcoin was cheap early on. Now it's not.
Monero is for those that are more patient than the average altcoiner.

Very true, but then again, it also took nearly 2-3 years to actually gain value and traction. Wouldn't the counterargument be why build a position now when it will ultimately be eaten away by new coins on a daily basis? Why not re-evaluate in 2-3 years time when the majority of the coins have been mined?

Granted, numerous coins suffer from the effects of heavy inflation from daily coinage--take DOGE, LTC, VRT, etc. All have constant sell pressure from miners selling their stash. I realize not everyone sells, but there are plenty of examples showing how much value is loss from when these coins hit the exchanges.

[celestio]

Has there been any discussion on revising the block reward to curb the immense inflation during the first 4 years?

That would immediately turn Monero into an instamined scamcoin, so no, not happening. Getting a large portion of coins out and into the hands of people is a good thing.

Yea, the current block reward creates liquidity, the right way.

[oblox]

Has there been any discussion on revising the block reward to curb the immense inflation during the first 4 years?

That would immediately turn Monero into an instamined scamcoin, so no, not happening. Getting a large portion of coins out and into the hands of people is a good thing.

Yea, the current block reward creates liquidity, the right way.

To an extent. I guess so far I haven't seen much of the value loss due to the new coins... there certainly isn't a ton of liquidity on the exchanges though. Anyone wanting to buy a substantial position (say 10+ btc) will move the price quite a bit. I know me building 2000 over the past day or so was a challenge.

[fluffypony]

To an extent. I guess so far I haven't seen much of the value loss due to the new coins... there certainly isn't a ton of liquidity on the exchanges though. Anyone wanting to buy a substantial position (say 10+ btc) will move the price quite a bit. I know me building 2000 over the past day or so was a challenge.

Still, it's had > 100 BTC daily trade volume on Poloniex most days (and has gone over 1000 BTC daily trade volume just on Poloniex on more than one occasion), so its in a reasonable position (generally in the top 10 cryptocurrencies by trade volume).

[mapleshadow]

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[villabacho]

What do you think about the difficulty drop? Is it because people now run Claymore's miner without the dev fee at a hashrate penalty?

[cAPSLOCK]

What do you think about the difficulty drop? Is it because people now run Claymore's miner without the dev fee at a hashrate penalty?

Certain types of mining become unprofitable at current prices.

[argentinx]

villabacho asdddddddddd
even without the 5% to the dev
the hashrate dont change

[villabacho]

What do you think about the difficulty drop? Is it because people now run Claymore's miner without the dev fee at a hashrate penalty?

Certain types of mining become unprofitable at current prices.

... so that's actually a good sign :-)

[cbuchner1]

I tested this procedure carefully on four different Sandy-Bridge and Haswell machines (Win7 x64), but hugepages are not available... is there another way of making Windows activate hugepages - and to verify this?

user needs to have privilege to allocate pagelocked memory, application must run with administrator privileges. Worked for me in my test application.

[btell]

Very true, but then again, it also took nearly 2-3 years to actually gain value and traction. Wouldn't the counterargument be why build a position now when it will ultimately be eaten away by new coins on a daily basis? Why not re-evaluate in 2-3 years time when the majority of the coins have been mined?

Granted, numerous coins suffer from the effects of heavy inflation from daily coinage--take DOGE, LTC, VRT, etc. All have constant sell pressure from miners selling their stash. I realize not everyone sells, but there are plenty of examples showing how much value is loss from when these coins hit the exchanges.

I just offer you two new points of view:

1. Real world economics grows as e^t or t^n, where t being historical time. So it's derivative is roughly e^t or t^(n-1). Physical sense of this derivative is the supply per unit time. So real world economics supply per unit time is exponential or polynomial too.

Bitcoin & monero supply per unit time FADES DRAMMATICALLY as e^(-t) or t^(-n). Consider most 'dangerious' time intervals, dt << t, that exactly that intervals you are afraid of. One can see coin supply is roughly constant at such small time intervals. So overall coins volume is just t^1, t <-[t0, t0+dt].

What does all that mean? FORGET coin inflation completely, even on short-term future! It does not matter at all!

2. Instead of mining, consider how to introduce Monero to wider masses of people. Imagine, think about services around Monero, what can you deliver to people to be useful for them?

p.s.

Given that, you make Monero growing as e^t or t^n. It's much easier to achive, because Monero grows inside a population, no need for the whole polulation to grow! If you consider deeper, such a growing may actualy be explosive - that exactly what we observe with Bitcoin worth margin call exploded to 80000:1 since 2009 to 2014.

p.s.2. So I attract all the people to test rpcwallet, see welcome at Monero missive, Jul 6.

[Johnny Mnemonic]

To whoever praised the Payment ID as a better alternative than multiple receiving addresses:

Multiple receiving addresses keeps anonymity intact in the blockchain, and thus will always be superior to Pay IDs. Payment IDs defeat the purpose of ring signatures and open doors for future regulation (businesses being required by law to collect Payment IDs for every transaction, etc.).

This is why I've said in the past that transactions should force mixin levels greater than 0. Any "features" that reduce anonymity in the block chain can be used against us in the future.

Payment IDs should be treated as a temporary solution until wallets are capable of creating multiple receiving addresses. At that point they should be removed entirely to prevent future abuse.