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

[emontmon]

Could the dev team here let us know what's needed to accelerate development of a user-friendly GUI wallet and easy exchange transfers - the absence of this is apparently hurting the coin.

It's technically superior to DRK and anyone else's anon tech - shame for something as minor as this to be holding it back.

disagree with this. lack of gui wallet has not held us back. on the contrary. it has clearly established itself as unique. lack of wallet is now part of its history. community comming together and created a bounty for the wallet is also part of what makes this coin great. people comming together and slowly building a community and culture.

this coin has not been held back at all. look at hash rate. look at postion on coin market cap. held back compared to what. grass roots build up is what will solidify this coin in the cryptocurrency market.

thanks

[Quanttek]

What about the discussion of the future emission of this coin?
As drawingthesun stated there should be a guideline more soonish than later. I guess this uncertainty currently hurts Monero a lot.
Because big investors want to know what they are investing in. Uncertainty is the worst that can happen.
And I think it is not only about the investors but about the time window for Monero to establish as THE reliable anonymous coin.
Although I don't think DRK or some other coin will establish in this niche overnight I sense that there is no time to loose.

Considering myself I would be very cautious with a too high inflation. 1% is a lot as time goes by!
I think the constant emission model (1 MRO per 2 minute block) is really nice.

All simulations start after the initial 18,000,000 have been minted (I know it's not exactly 18,000,000, but it makes little difference.)

(Matlab code included in case I screwed up the math or something)

1 MRO released every 120 seconds
http://pastebin.com/UWLVZaam

1 MRO released every 60 seconds
http://pastebin.com/dkVYBFj3

0.33333333 MRO released every 60 seconds.
http://pastebin.com/GwQJQzje

Inflation at 1%
http://pastebin.com/3K0dMnZe

Inflation at 0.5%
http://pastebin.com/6tJtdrqP

Also, for fun times, Inflation at 5%
http://pastebin.com/z5vmmW3z

As you might see, 1MRO is at the first years much more inflation than 1%. I personally would suggest an variable inflation in % between 0.2 and 1.5 based on tx-fees and difficulty

[mickey_miner]

You are a liar.  darkcoin was launched without a qt wallet and was linux only.  That is facts.  darkcoin was also instamined because of supposedly difficulty issues.  There were 500 coin blocks every second for hours.

Monero launched as bitmonero was a fair launch.  It's just that nobody took it seriously because it was command line.  So the first people that started mining got coins.  Once people saw what the coin was then everyone started mining and difficulty went way up.  I was mining in beginning when difficulty was under 200000.  Lots of coins but everyone had a chance to see the ANN and start mining.

The darkcoin wallet was released faster than monero, by the devs (yes.. with monero is the community who will make a GUI, it's strange i think.. some questions, like why the community and not the devs?)

The unaccessibility of monero to public is like a non pre-ann.

ps: but why talk about darkcoin? darkcoin was just a example of new coin...

Haha Darkcoin has no code, it is a clone.
It is 100% marketing and spamming.

Once Darkcoin fall, it'll never recover.

Lol, Darkcoin is not a clone, it was the first x11 coin.
I remember you, yes you are this french guy who blame and diffame all the others coins because you invested in the nextcoin lol now you do the same with monero.

Now you said:

I'm 50% Monero / 50% Boolberry. The rest must die.

haha, you are a dumbass, see how you don't know how invest like a boss. In 3 months you will said "I'm 100% randomcoin, the rest must die".
Even if i think than monero is a good investissement, you was wrong about nxt

Also i'm not here for talk about darkcoin. It was just a example... don't cry or be jealous, like i said monero can be the best, actually is not, cause of unaccessibility.

I'm mining Monero, so now stop create a competition between Monero and Darkcoin

Darkcoin wallet was released faster than Monero?  You are wrong again.  Monero HAD a windows wallet on release.  It was command line but it was available on launch. 

If your not here to talk about darkcoin then why bring up?

Lots of doubletalk from you.  Makes me laugh because you funny clown is all.

[emontmon]

The darkcoin wallet was released faster than monero, by the devs (yes.. with monero is the community who will make a GUI, it's strange i think.. some questions, like why the community and not the devs?)

The unaccessibility of monero to public is like a non pre-ann.




[/quote]



first: the "devs" are the community. there is no paid dev for this coin. The developers of the techonology are the cryptonote group. This clearly outlines your ignorance.

second: re UN-accessibility as you put it. this is not true either. there are many people in this coin who have never been involved in crypto currencie. reviewing the thread would clarify this for you. I am one of them. The coin I feel is very accessible.

please. no more FUD. If you feel dark is better stay there and educate new commers to your coin. I doubt you will change anybodies mind regarding monero at this stage.

[Zer0Sum]

What about the discussion of the future emission of this coin?
As drawingthesun stated there should be a guideline more soonish than later. I guess this uncertainty currently hurts Monero a lot.
Because big investors want to know what they are investing in. Uncertainty is the worst that can happen.
And I think it is not only about the investors but about the time window for Monero to establish as THE reliable anonymous coin.
Although I don't think DRK or some other coin will establish in this niche overnight I sense that there is no time to loose.

Considering myself I would be very cautious with a too high inflation. 1% is a lot as time goes by!
I think the constant emission model (1 MRO per 2 minute block) is really nice.

Serious investors simply diversify among all the CryptoNote coins...
It's waaaaay too early to be picking winners.

[sonoIO]

I've been following discussion in this topic about whether or not to have a fixed inflation, and how much it should be. I am not economist
 but it is only natural to have fixed inflation in some equilibrium. The amount of inflation depends strongly on entropy
 production e.i. efficiency of the processes of the world we currently live in (now is rather high because wars and corruption among others I suppose). I don't mean here just production by miners, but our World as a whole. If one finds proper metrics for entropy production (at the current state of the development and utilization of energy flows) I suppose that block size can be made such that value of the coin stays rather constant in time (if there are no to strong influence by speculators)... But I've been wrong before. Before that metrics, I vote for 1%

BTW, how does one compile Monero daemon without UPnP?

[Coindgr]

Is it possible to solomine with cpuminer-multi ?? which port to use??

[Quanttek]

Is it possible to solomine with cpuminer-multi ?? which port to use??

For that you have to use the wallet/daemon: Just type "start_mining NUMBER OF THREADS" into your wallet and he will start solo mining

[emontmon]

Is it possible to solomine with cpuminer-multi ?? which port to use??

For that you have to use the wallet/daemon: Just type "start_mining NUMBER OF THREADS" into your wallet and he will start solo mining

think the reason he/she was asking is because cpu miner is slightly more efficient than simple miner. by 10 percent i believe.

[fluffypony]

Could the dev team here let us know what's needed to accelerate development of a user-friendly GUI wallet and easy exchange transfers - the absence of this is apparently hurting the coin.

It's technically superior to DRK and anyone else's anon tech - shame for something as minor as this to be holding it back.

You can't accelerate it - with more people working on it you have diminishing returns (and, more likely, negative returns) as they need to communicate constantly with each other to ensure they are working on different parts of it. You need a very small, very tight-knit group of UI/UX/C/C++/Qt developers to attack this, and that is what we have. If this was my team and I were talking to a client I'd tell them that it's 3-4 months of work to do it properly.

[dreamspark]

Is it possible to solomine with cpuminer-multi ?? which port to use??

For that you have to use the wallet/daemon: Just type "start_mining NUMBER OF THREADS" into your wallet and he will start solo mining

think the reason he/she was asking is because cpu miner is slightly more efficient than simple miner. by 10 percent i believe.

While true if your wanting to solo mine without a pool you need a fair few hashes to stand a chance at finding a block. If you have that sort of hashing power then you would be better off hosting your own private pool or joining another one. It doesn't make much sense to solo mine on a single desktop/laptop processor.

[fluffypony]

Is it possible to solomine with cpuminer-multi ?? which port to use??

It's not possible without running the daemon + pool software locally (or in your own private pool).

[Johnny Mnemonic]

Cryptocurrencies face a number of future problems, including but not limited to:

- transaction witholding attacks
- centralized distribution via lending of promisory notes (back to fiat)
- transaction fee escalations
- network centralization of wealth

These issues can all be solved or greatly mitigated with a reasonable, fixed inflation. There are no other solutions that I know of that are nearly as elegant.

I positively disbelieve that reasonable fixed inflation can solve any of these which are not solved by constant-reward inflation.

If there is discussion, I think it should be in the Monero Economy thread.

It is all too likely to devolve into a Keynesians vs Austrians imbroglio:  As humans, oftentimes our micro-issues reflect our strategies for rationalizing our macro-ideologies.

The problem I see with constant-reward inflation is that if we expect the network and transaction volume to grow over time, then we can expect the value to perpetually trend upward and never stabalize (more work, same reward).  A fixed percentage block reward, if sufficient, leaves little incentive for transaction witholding attacks and spiraling fees.  I actually think the best solution is a variable, "smart" inflation based on volume/hashrate that you and I talked about in the economy thread. However, that brings its own challenges and I feel a 1% debasement to be a reasonable first step.

A finite money supply is the exact cause of the four issues stated above, and constant-reward inflation is just a fancy-pants way of making a finite money supply look like it isn't finite.  The significance of that static block reward will perpetually drop until we're right back in the same situation.  The block reward must always be proportionally significant, or we will have a problem.

[Coindgr]

Is it possible to solomine with cpuminer-multi ?? which port to use??

It's not possible without running the daemon + pool software locally (or in your own private pool).

So there's no way to combine cpuminer-multi with the synced daemon  

[33zer0w0lf]

http://www.extremepool.org

Come visit and mine with us at Extremepool.org

Pool running latest Daemon at http://mro.extremepool.org!!!

[monero]

Just in case anyone missed it amidst the flurry of activity, the I2P team as also posted about our partnership here:

https://geti2p.net/en/blog/post/2014/05/25/Monero-partnership

We look forward to continuing to bring about real innovation and improvements for our users in a way that doesn't risk their privacy and security by adding bloated dependencies, potential insecurities, and additional attack surfaces.

- updated by fluffypony

[AlexGR]

New Windows binaries are available that are compatible with the fee update and tx size restrictions.

This should solve the cheap-attack-to-fill-the-blockchain-with-crap vector?

[KFR]

I have joined to minemro.com Tnx for new pool.

Minemro.com Tnx new pool is really nice
Come on do it brother
 

Congrats on first block found @ minemro.com.  HR growing, looking good. 

[tacotime]

New Windows binaries are available that are compatible with the fee update and tx size restrictions.

This should solve the cheap-attack-to-fill-the-blockchain-with-crap vector?

For the most part, but there are other DoS vectors that still need to be addressed that I won't go into detail about.

[Keyboard-Mash]

The problem I see with constant-reward inflation is that if we expect the network and transaction volume to grow over time, then we can expect the value to perpetually trend upward and never stabalize (more work, same reward).  A fixed percentage block reward, if sufficient, leaves little incentive for transaction witholding attacks and spiraling fees.  I actually think the best solution is a variable, "smart" inflation based on volume/hashrate that you and I talked about in the economy thread. However, that brings its own challenges and I feel a 1% debasement to be a reasonable first step.

A finite money supply is the exact cause of the four issues stated above, and constant-reward inflation is just a fancy-pants way of making a finite money supply look like it isn't finite.  The significance of that static block reward will perpetually drop until we're right back in the same situation.  The block reward must always be proportionally significant, or we will have a problem.

I've spent a night thinking about it and I've come up with a few more thoughts about this.

Both constant reward and constant % inflation will serve the exact same purpose for years to decades.

Consider both of these most likely simulations (provided by drawingthesun):

0.33333333 MRO released every 60 seconds.
http://pastebin.com/GwQJQzje

Inflation at 1%
http://pastebin.com/3K0dMnZe

1 - For 1% inflation, at year 18: Year: 18.000000 Coin: 21530654.562360 Coin Increase: 213174.797647
2 - For .3 subsidy, at year 20: Year: 20.000000 Coin: 21503999.964960 Inflation: 0.821425%

For 1 and 2, the total coins in circulation have a difference of about 26,655, which is about .123% of the inflated simulation and .124% of the fixed reward. After years 18-20, they begin to diverge and the inflated supply yields many more coins than the constant reward supply. My point here is that this is a long time to make a more informed decision about whether or not a fixed subsidy, fixed inflation, variable of either, or some mix of all of these would be a correct move for the currency. Up until almost 2 and a half decades from right now is the time I am talking about, where both of these routes serve the exact same function (within <<.1% thresholds)

With our most recent update, Taco has set a tx size limit that won't drop the subsidy of more than 9% of the intended value. What this means to me is that a targeted inflation of 1% or 2% may very well have an actual effect of being a .91% or 1.82% inflation. As such, any targeted fixed inflation will yield a window of uncertainty where it will be .91% - 1% or 1.82% - 2% fixed inflation. Before I can be convinced that a constant inflation model is appropriate, that uncertainty would need to be removed. At least with a fixed reward subsidy, we have a solid model for 25 years that people can plan their futures accordingly. At least with the constant reward, we continue to have an uncertain emission only to the day that that is put into effect.

What I'm getting at here is that ... with the rather large amount of time between now and 25 years ... I think we're really just splitting hairs. Unless the constant reward model was subject to the same extra uncertainty about the emission of the coin that will definitely be present in the inflation model, I don't see this as a necessary change that needs to be tackled right this second. I just simply don't think there will be blood in the streets over this in two and a half decades. It's a tough issue definitely, but this is something I have full faith that anyone capable of making decisions in the future will be able to solve. Of course, I'd like only the best to happen after 2.5 decades, but I'm just not convinced that the fixed inflation is more correct than the fixed subsidy right now. The best we can provide them is an open door to either fix the issue or change it into something better, when if the time comes.