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

[mmortal03]

so the question is at what point does any cryptocurrency become a stable store of value to begin attracting those that are trying to avoid the negative interest rates that are besetting contemporary finance? I'm assuming its merely a measure of time - but how much time? and how much stability?

When I win the lottery and start buying in.

Seriously, though, it'll probably be once the monetary inflation of bitcoin drops significantly lower than most fiat currencies'.

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[Arux]

... If it is ever super urgent, and I am asleep, all of the core team have my mobile phone number and can call me till I wake up.

oh! 

Take care of your health and switch off the phone when you sleep.
MyMonero unavailability isn't pleasant but it can wait for a few hours.

Thats why you should never trust a webwallet, its your own fault, sorry for your loss

For the critical cases, MyMonero can be used in parallel with simplewallet. So no risk of losing control of your xmr.

[G2M]

so the question is at what point does any cryptocurrency become a stable store of value to begin attracting those that are trying to avoid the negative interest rates that are besetting contemporary finance? I'm assuming its merely a measure of time - but how much time? and how much stability?

When I win the lottery and start buying in.

Seriously, though, it'll probably be once the monetary inflation of bitcoin drops significantly lower than most fiat currencies'.

You think so though?

I always had thought that it would take a significant increase in liquidity to become even close to stable, on the route that the ability to remain stabilized would require both an incredible price as well as the ability to encompass the collective wealth of all involved.

So, for the currency to be stable within, say, 1%, then no less than 1% of the total marketcap needs to be within +/- 1% of the price, while factoring something relating to the userbase that would be looking to trade in that 1%.

So for a currency worth 5 billion, and a price of 100$ for a unit, between the price of 99$ to 101$, i'd be looking for $50 million to be ready to go in that range for either sale or purchase. This isn't factoring a scale relating to having less available at market prices and having more available at trading prices.

I'm probably off base a bit, never really studied much economics, but have wondered what stability would look like on the charts.

[Hueristic]

All back up:)

The Galera cluster had a bit of a cascading failure due to disk space issues (logging got out of control and log-rotate setup was faulty), so the API couldn't satisfy queries. Of course, this happens in the dead of night whilst I'm asleep

If, at some point, we can afford support staff in different time zones we can alleviate the risk of this happening. If it is ever super urgent, and I am asleep, all of the core team have my mobile phone number and can call me till I wake up.

What, you expect to be allowed to sleep ONCE a day! !@#$@@$

On a side note:
https://addons.mozilla.org/en-US/firefox/addon/bitcoin-price-ticker/reviews/702904/

[medusa13]

typed in the address pointed out here: http://www.reddit.com/r/Monero/comments/33waz3/ive_never_used_cryptocurrenciesknow_much_about/

so why not share

Code:

47mfwjL8L95HJUj6iXUmdUe3K63brRcxrWKqeiPVLKosjYPQdfzqWFFStjL2mtEzNsX1fisa4W1SwZLHsiZPWdFe5UpBF7s

it pulls 260 KH/s right now and is close to 50% of the pool http://cryptmonero.com

what do you think how many pc's running? 5000? infected i estimate about 10-15k. what do you think, more?

[rpietila]

so the question is at what point does any cryptocurrency become a stable store of value to begin attracting those that are trying to avoid the negative interest rates that are besetting contemporary finance? I'm assuming its merely a measure of time - but how much time? and how much stability?

When I win the lottery and start buying in.

Seriously, though, it'll probably be once the monetary inflation of bitcoin drops significantly lower than most fiat currencies'.

You think so though?

I always had thought that it would take a significant increase in liquidity to become even close to stable, on the route that the ability to remain stabilized would require both an incredible price as well as the ability to encompass the collective wealth of all involved.

So, for the currency to be stable within, say, 1%, then no less than 1% of the total marketcap needs to be within +/- 1% of the price, while factoring something relating to the userbase that would be looking to trade in that 1%.

So for a currency worth 5 billion, and a price of 100$ for a unit, between the price of 99$ to 101$, i'd be looking for $50 million to be ready to go in that range for either sale or purchase. This isn't factoring a scale relating to having less available at market prices and having more available at trading prices.

I'm probably off base a bit, never really studied much economics, but have wondered what stability would look like on the charts.

I have studied Economics Major. Stability can be:
- exchange rate stability
- price stability
- neither.

In the latter part of 1800s, exchange rates were fixed (each country's currency was just a differing weight of gold). Prices fluctuated a lot based on natural events, but had an overall declining trend based on productivity increases and expansion of trade.

Now, exchange rates change widely, even big countiers' currencies (USA; EU; Russia; Japan; China) are allowed to fluctuate by up to 100% per year against each other. This does not make prices stable, however. Some contractual prices are more sticky than the others (wages denominated in own currency), giving the impression of stability where nothing exist.

The prices have never been stable. We should not think that it could be possible in cryptoeconomy either. The whole goal is absurd and should be rejected.

[Hueristic]

typed in the address pointed out here: http://www.reddit.com/r/Monero/comments/33waz3/ive_never_used_cryptocurrenciesknow_much_about/

so why not share

Code:

47mfwjL8L95HJUj6iXUmdUe3K63brRcxrWKqeiPVLKosjYPQdfzqWFFStjL2mtEzNsX1fisa4W1SwZLHsiZPWdFe5UpBF7s

it pulls 260 KH/s right now and is close to 50% of the pool http://cryptmonero.com

what do you think how many pc's running? 5000? infected i estimate about 10-15k. what do you think, more?

I think the pool should redirect all funds from that address to either to a burn address or the dev fund. And the malware should be copied and setup on a system to monitor the botnet.

[smooth]

typed in the address pointed out here: http://www.reddit.com/r/Monero/comments/33waz3/ive_never_used_cryptocurrenciesknow_much_about/

so why not share

Code:

47mfwjL8L95HJUj6iXUmdUe3K63brRcxrWKqeiPVLKosjYPQdfzqWFFStjL2mtEzNsX1fisa4W1SwZLHsiZPWdFe5UpBF7s

it pulls 260 KH/s right now and is close to 50% of the pool http://cryptmonero.com

what do you think how many pc's running? 5000? infected i estimate about 10-15k. what do you think, more?

I think the pool should redirect all funds from that address to either to a burn address or the dev fund. And the malware should be copied and setup on a system to monitor the botnet.

Nice way to steal coins from a big miner. Post something claiming that address infected your computer.

Is it true? I don't know, it could be, but still you can't act on this information or many future reports will certainly not be true.

People need to secure their own computers. It could also be someone using one of the cloud computing exploits. Again, the cloud computing providers need to secure their system better. (Often they don't as an explicit business decision.)

[opennux]

typed in the address pointed out here: http://www.reddit.com/r/Monero/comments/33waz3/ive_never_used_cryptocurrenciesknow_much_about/

so why not share

Code:

47mfwjL8L95HJUj6iXUmdUe3K63brRcxrWKqeiPVLKosjYPQdfzqWFFStjL2mtEzNsX1fisa4W1SwZLHsiZPWdFe5UpBF7s

it pulls 260 KH/s right now and is close to 50% of the pool http://cryptmonero.com

what do you think how many pc's running? 5000? infected i estimate about 10-15k. what do you think, more?

I think the pool should redirect all funds from that address to either to a burn address or the dev fund. And the malware should be copied and setup on a system to monitor the botnet.

That's drastic and premature. I concur with what smooth wrote.

[kazuki49]

typed in the address pointed out here: http://www.reddit.com/r/Monero/comments/33waz3/ive_never_used_cryptocurrenciesknow_much_about/

so why not share

Code:

47mfwjL8L95HJUj6iXUmdUe3K63brRcxrWKqeiPVLKosjYPQdfzqWFFStjL2mtEzNsX1fisa4W1SwZLHsiZPWdFe5UpBF7s

it pulls 260 KH/s right now and is close to 50% of the pool http://cryptmonero.com

what do you think how many pc's running? 5000? infected i estimate about 10-15k. what do you think, more?

I think the pool should redirect all funds from that address to either to a burn address or the dev fund. And the malware should be copied and setup on a system to monitor the botnet.

That's drastic and premature. I concur with what smooth wrote.

And they will end just creating a pool for themselves, there is nothing we can do about it, in the same way vile and despicable characters are part of the "real world" economy, but with cryptocurrency we can at least solve some of the big problems. Smart mining will help.

[Hueristic]

typed in the address pointed out here: http://www.reddit.com/r/Monero/comments/33waz3/ive_never_used_cryptocurrenciesknow_much_about/

so why not share

Code:

47mfwjL8L95HJUj6iXUmdUe3K63brRcxrWKqeiPVLKosjYPQdfzqWFFStjL2mtEzNsX1fisa4W1SwZLHsiZPWdFe5UpBF7s

it pulls 260 KH/s right now and is close to 50% of the pool http://cryptmonero.com

what do you think how many pc's running? 5000? infected i estimate about 10-15k. what do you think, more?

I think the pool should redirect all funds from that address to either to a burn address or the dev fund. And the malware should be copied and setup on a system to monitor the botnet.

Nice way to steal coins from a big miner. Post something claiming that address infected your computer.

Is it true? I don't know, it could be, but still you can't act on this information or many future reports will certainly not be true.

People need to secure their own computers. It could also be someone using one of the cloud computing exploits. Again, the cloud computing providers need to secure their system better. (Often they don't as an explicit business decision.)

Malware analysis would be the determining factor not someones post, I thought that would be obvious. I post rather lazily most of the time.

I also see no reason why the DEV team could not work closely with security companies to forward addresses to pools after verification. That might be a nice step toward removing bot nets. But of course that would lower hashrate and thus security of the chain. So...

[David Latapie]

David is actually probably a rather qualified individual to talk with BFX. Aside from great character and proficiency of this space's nuances, it probably helps that Raphael and David are fellow Frenchmen.

Lol.  I wish I had saved the logfile of the conversation I had with him.  I strung him along for like 30 minutes.

I shall have them. PM me if interested.

(many post about me asking information regarding mining hardware)

1. I needed SOTA data regarding mining hardware. My latest data were several months old and I wanted an update. Case (and troller's mouth) closed.
2. Read my editorials and you'll see I know a thing or two about technology. BTW, I hold a master's degree in IT management and have several years of experience on IT management (linkedin profile).
3. As Hueristic mentioned, Monero was a part of my moving to Linux, in April-May 2014 (I already used Linux several times in the past, but was never convinced). I installed Linux (Arch Linux then, because of many incompatibilities, Ubuntu). I recently physically crashed my laptop and decided, for business reasons, to move to Macbook Air hardware (OS X+Ubuntu and Windows on Parallels).

It might offend the solipsists.

Little do solipsists know, Socrates was the OG of solipsism

Edit: “The only true wisdom is in knowing you know nothing.”

Descartes is usually credited for popularizing solipsism with his famous "cogito ergo sum" ("I think therefore I am").

Very interesting article, worth a read:

https://medium.com/zapchain-magazine/why-one-bitcoin-developer-thinks-cryptocurrencies-have-a-dreadful-future-93007cff1613

Regarding the "kill-switch" for mining hardware, the answer is 3D printing with open-source blueprints, such as physible. I can even imagine using maelstrom to download an open-source blueprints. Using a decentralised technology (bitorrent) to create decentralised devices (3D printed miners) for obtaining decentralised cryptocurrency (Monero). Neat.

Please visit http://commons.xmr.biz/ and provide some feedback, so I know what is requested and how to improve.

Great initiative!

XMR Logo PSD file + pngs
http://www48.zippyshare.com/v/IuPzJjGs/file.html

Luke, Monero Mascot PSD (I have no idea what license this one has though, you'd have to ask hitbtc):
http://www88.zippyshare.com/v/EI8qoNkE/file.html

Branding logo: http://monero.cc/downloads/resources/branding.zip

The only info on the viewkey I can find is on the MEW site--is there more info available yet? Or did I miss something on the main site? A good ELI2.5 would be good to counter attack xdrkdashians.

http://fr.slideshare.net/getmonero/monero-next-step-en-46579074/6 may help.

The "glitch" in the obfuscated miner was fixed extremely fast (by NoodleDoodle, one of the core team members), a lot faster than most people remember. At the time it was a pretty big deal.[...]

I updated History of Monero accordingly (still a lot of work to do on this one).

I remember that NoodleDoodle was hesitant to release what had become "his" miner (just a couple of parenthesis to be removed) because he was not sure this tweak did not have unintended consequences - we eventually decided to release what maybe was a broken miner (turns out it was the opposite, a better miner). This shows how naive we still were about the possibility of a crippled miner .

so the question is at what point does any cryptocurrency become a stable store of value to begin attracting those that are trying to avoid the negative interest rates that are besetting contemporary finance? I'm assuming its merely a measure of time - but how much time? and how much stability?

And it will be interesting if bitcoin can maintain its value as this fungibility thing plays out.

I recently read on IRC that chances are good that Bitcoin will stay in the 200 dollars range for one more year. This would be exactly what we need (and for Monero too, by the way - volatility is for parasitic traders, stability is for those who actually do something with money). Fluffypony recently said that he believes that since it is fairly distributed and dev do not have a large stash, the way to make money with Monero is by developing services around it. And this is exactly what I am doing (and why I am not that present recently - setting up a company takes times, money and energy).

don't quote.

Exactly. I ignored blockafett and primer- but still have to suffer the replies.

I really feel for this community in the same ways I do for the human beans that help build Ubuntu, etc.



Thank you (again)

After reading this post, I stumbled upon a French text (English version) which blew my mind regarding how great ubuntu (the philosophical notion) is.

in a week price down of 40% - why?

Not as much growth in the "posable gmaxwell doll" sector as we expected. Someone should fire the VP of Marketing and replace him with someone with a man like Primer- who really knows what this industry needs.

Speaking of... haven´t seen David in a while, is he off on vacation?

I suppose "Speaking of" relates to "VP of Marketing"

I'm setting up a company focusing on increasing usefulness of cryptocurrency (and particularly Monero) for legal persons (companies, NGO...) worldwide. It takes a lot of time, as you can imagine. This is also one of the few things I know that evolves faster than a cryptocurrency. And for Monero birthday, I was presenting cryptocurrencies at a French event. Expect more to happen later. If you own a company or hold an position of influence in one and are curious about what we offer, you can PM me.

Also, I'm preparing a Monero meetup in Paris, in partership with... Mozilla! https://forum.getmonero.org/14/events/277/monero-meetup-paris-france-may-21th-2015
https://plus.google.com/events/cv85079ug4ijrc0o6uc46b1i3jg

[GTO911]

Go to coinmarketcap, filter non-mineable and premined, something different?  

[farfiman]

Go to coinmarketcap, filter non-mineable and premined, something different?  

yup    

[generalizethis]

Go to coinmarketcap, filter non-mineable and premined, something different?  

All you had to do is line up the facts and ask, apparently. Glad they did the right thing.

[binaryFate]

Bytecoin still not shown as premine, it's a shame because it's the most scammy of all.

[GingerAle]

Bytecoin still not shown as premine, it's a shame because it's the most scammy of all.

Have they not read *the* very awesome analysis on the bytecoin scam by whatsisname that I am so fond of posting? I guess we should just send them that. I've stored it as PDF just in case, thats how good and important it is .

[Hueristic]

Bytecoin still not shown as premine, it's a shame because it's the most scammy of all.

Have they not read *the* very awesome analysis on the bytecoin scam by whatsisname that I am so fond of posting? I guess we should just send them that. I've stored it as PDF just in case, thats how good and important it is .

Maybe they have to Divest first.

[smooth]

Bytecoin still not shown as premine, it's a shame because it's the most scammy of all.

It was. Some shills from bytecoin complained and they have no backbone so they took it off. Probably will happen with dash too, although at least with that one, there are actual quotes from the developer acknowledging the problem.

[GingerAle]

Bytecoin still not shown as premine, it's a shame because it's the most scammy of all.

Have they not read *the* very awesome analysis on the bytecoin scam by whatsisname that I am so fond of posting? I guess we should just send them that. I've stored it as PDF just in case, thats how good and important it is .

Maybe they have to Divest first.

Right, I forgot we're in Cryptoland, where everyone has vested interests in everything.