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

[bengtåke]

How long does it take the wallet to sync? It is just saying initializing. I am using the Cryptonote wallet

Few hours probably, if you type set_log 1 into the console you'll get some block spam if it's working

[33zer0w0lf]

Moneropool.com is having that "problem" again.

PLEASE SPREAD YOUR HASH!!! THIS POOL HAS OVER 51%

When I look at the "Pool Blocks" tab on MoneroPool.org, I see that almost 40% of the blocks show as "orphaned".

What's with that?

Is this a result of the 60 second block time? Is it the result of some other flaw/factor in the CryptoNight algorithm? As far as I know, most other coins have much smaller orphan rates.

I assume if other pools were any different, someone would have reported it here.

This seems to me like a HUGE waste of everyone's hashes. Not so?

Even qcn has huge number of orphans, so its not the block time.

http://mro.extremepool.org

[smooth]

Moneropool.com is having that "problem" again.

PLEASE SPREAD YOUR HASH!!! THIS POOL HAS OVER 51%

When I look at the "Pool Blocks" tab on MoneroPool.org, I see that almost 40% of the blocks show as "orphaned".

What's with that?

Is this a result of the 60 second block time? Is it the result of some other flaw/factor in the CryptoNight algorithm? As far as I know, most other coins have much smaller orphan rates.

I assume if other pools were any different, someone would have reported it here.

This seems to me like a HUGE waste of everyone's hashes. Not so?

Even qcn has huge number of orphans, so its not the block time.

Two minutes may still be too low for these coins, given the higher verification cost. Subjectively speaking the orphan rate on DUCK (4 minute target) seems quite low, but the coin is new so hard to say.

[smooth]

How long does it take the wallet to sync? It is just saying initializing. I am using the Cryptonote wallet

Few hours probably, if you type set_log 1 into the console you'll get some block spam if it's working

If you can download a block chain snapshot. That is much faster.

[smooth]

When I look at the "Pool Blocks" tab on MoneroPool.org, I see that almost 40% of the blocks show as "orphaned".

What's with that?

Is this a result of the 60 second block time? Is it the result of some other flaw/factor in the CryptoNight algorithm? As far as I know, most other coins have much smaller orphan rates.

I assume if other pools were any different, someone would have reported it here.

This seems to me like a HUGE waste of everyone's hashes. Not so?

No not really. The difficulty would be higher without the orphans.

[othe]

An article about CoinJoin and why its not effective enough for anonymity:

http://www.scribd.com/doc/227369807/Bitcoin-Coinjoin-Not-Anonymous-v01

[Zer0Sum]

When I look at the "Pool Blocks" tab on MoneroPool.org, I see that almost 40% of the blocks show as "orphaned".

What's with that?

Is this a result of the 60 second block time? Is it the result of some other flaw/factor in the CryptoNight algorithm? As far as I know, most other coins have much smaller orphan rates.

I assume if other pools were any different, someone would have reported it here.

This seems to me like a HUGE waste of everyone's hashes. Not so?

Smaller pools get more orphans than bigger pools, that's why moneropool.org and the other small pools have so many orphans. Moneropool.com has almost 60% of the network hashrate so its orphan rate is more like 15%. The 1 minute block time is the reason for all the orphans.

So if they are taking 2% it's only $400-500/day...
Is the cost of running a large pool zero?

[surfer43]

So if they are taking 2% it's only $400-500/day...
Is the cost of running a large pool zero?

Looks like they make their monthly cost in 12 hours from fees (estimation).

[GreekBitcoin]

I am trying to compile wolf's miner On my linux box (64 bit CentOS 6.5) with no luck so far.

Any hints about how to compile this miner on CentOS?

I am also trying to compile Luca's one on CentOS but with no luck. When i try to run minerd it just stops saying illegal instruction. If you find a solution please tell me...

In case jap1968 havent solved the problem, or for anyone else, all i had to do was to upgrade my gcc. Thanks Wolf that told me

http://ask.xmodulo.com/upgrade-gcc-centos.html

[huobi.com]

Flying,No.1 on Poloniex.com

[surfer43]

Address 454HDLDtqCLS24EsDAYorf9QAVkNqQPdJTaEBrdi9pVELUH6ZSU37VqV8UAoTYV7kX34w1NvpPrrM7F RA9BwWS8nFCGtWEK: please stop trying to mine on MoneroPool.org with simpleminer! Use cpuminer-multi instead.

[sorryforthat]

Address 454HDLDtqCLS24EsDAYorf9QAVkNqQPdJTaEBrdi9pVELUH6ZSU37VqV8UAoTYV7kX34w1NvpPrrM7F RA9BwWS8nFCGtWEK: please stop trying to mine on MoneroPool.org with simpleminer! Use cpuminer-multi instead.

cant you just disconnect him?

[aminorex]

It will be interesting to see how MRO does relative to fiat during a BTC moonshot.  I expect this to be a pretty tame bubble, if it is one, but LTC has largely lost cred, and MRO might take its place as moon to sun, with value lagging BTC during the early phase, getting whipped up rapidly, and overshooting the gains in BTC relative to fiat, before relaxing again.

[Spekulatius]

It will be interesting to see how MRO does relative to fiat during a BTC moonshot.  I expect this to be a pretty tame bubble, if it is one, but LTC has largely lost cred, and MRO might take its place as moon to sun, with value lagging BTC during the early phase, getting whipped up rapidly, and overshooting the gains in BTC relative to fiat, before relaxing again.

Sounds like you had a rough night

[Zer0Sum]

It will be interesting to see how MRO does relative to fiat during a BTC moonshot.  I expect this to be a pretty tame bubble, if it is one, but LTC has largely lost cred, and MRO might take its place as moon to sun, with value lagging BTC during the early phase, getting whipped up rapidly, and overshooting the gains in BTC relative to fiat, before relaxing again.

Please step away from the keyboard when you do mescaline.

You're welcome.

[RentaMouse]

So if they are taking 2% it's only $400-500/day...
Is the cost of running a large pool zero?

Looks like they make their monthly cost in 12 hours from fees (estimation).

The cost of running a pool does increase the more miners you have, as you need more server resource and bandwidth, but it gets more efficient the bigger you get so 2% fees is quite profitable I suspect. Its a free market so miners can direct their hash where they like, perhaps they figure they get a lower orphan rate which compensates for the fee. I moved my pool to its own server with a direct Internet connection when I made it public, hopefully reducing the orphan rate, but then the network hash rate has gone up so much since it hasnt found any blocks so I can't compare to see if there is a difference

[Keyboard-Mash]

It will be interesting to see how MRO does relative to fiat during a BTC moonshot.  I expect this to be a pretty tame bubble, if it is one, but LTC has largely lost cred, and MRO might take its place as moon to sun, with value lagging BTC during the early phase, getting whipped up rapidly, and overshooting the gains in BTC relative to fiat, before relaxing again.

Yeah, It will be interesting to watch this one. This low was called well, and now both are going up. Exciting times!

With little holding it in place compared to BTC, it will probably easily experience an overshoot. Where will the new floor be?

[Keyboard-Mash]

The cost of running a pool does increase the more miners you have, as you need more server resource and bandwidth, but it gets more efficient the bigger you get so 2% fees is quite profitable I suspect. Its a free market so miners can direct their hash where they like, perhaps they figure they get a lower orphan rate which compensates for the fee. I moved my pool to its own server with a direct Internet connection when I made it public, hopefully reducing the orphan rate, but then the network hash rate has gone up so much since it hasnt found any blocks so I can't compare to see if there is a difference

Where are all these orphans coming from? It's becoming harder to believe that it's entirely due to the 1 minute block times .. maybe that combined with the incredible mining speed increases we have now changes a few things...?

Edit:

To address the orphan issue, it's recommended that you directly connect your daemons to the other major MRO pools, mro.extremepool.org and moneropool.com. You should correspond to those admins so that their nodes are directly connected to you with "--add-priority-node arg", and possibly remove unrelated nodes, so that you can sync faster with these other large pools.

P2P backend code seems poorly optimized and takes a long time to sync as well, coupled with the heavy hashing algo makes orphans inordinately high compared to other networks.

Looks like they're already on it! only a matter of time now.

[smooth]

Where are all these orphans coming from? It's becoming harder to believe that it's entirely due to the 1 minute block times .. maybe that combined with the incredible mining speed increases we have now changes a few things...?

There are a number of factors which contribute to orphans but they all stem ultimately from the one minute block time, which just too fast for an ad-hoc p2p type network. If you were running a centrally managed financial backbone (or you want to turn a coin into one) then you can probably optimize everything such that one minute blocks mostly work. But for a decentralized peer-to-peer system, it doesn't work. 

If you look at these coins, Monero (1 min) generally has the most orphans and Duck (4 min) the least, though this of course varies according to network conditions. Probably closer to 4 minutes might be right, given the high cost of verification. 2 minutes is the bare minimum.

However, I would add that orphans really aren't as bad as they seem. The block target is determined by the rate of accepted blocks. If there weren't orphans the difficulty would be correspondingly higher. Everything comes out about the same, except more overhead and other secondary factors which aren't great and should be addressed by increasing the block time and optimizing the code in other ways. But it really isn't a "waste" of hashes or anything like that.

[33zer0w0lf]

Extreme Pool

Come visit us at http://www.extremepool.org, the #1 Pool for Cryptonote Coins!!
We are starting this weeks promotion early for the MRO Pool:

This Weeks Promotion:
http://mro.extremepool.org
0% Fee