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

[aminorex]

Is it technically possible to side-embed monero to bitcoin?

Yes.  Politically possible?  Very doubtful. The interesting question is whether it is possible to side-embed with a 2-way peg.

I think it would be enormously beneficial to bitcoin, as fungibility would be resolved.  XMR would be sacrificing most of its upside value risk in the process, however.

Even if it is never going to happen, the veriest possibility suggests that it should be on the table as a possibility, in the discourse between btc and xmr cores.

[aminorex]

The price is not a function of the diff.  The diff is a function of the price.

There are feedback loops.  It is not linear.  It can be a linear-ish relationship during certain regimes.

BTW, that word, "function", I do not think it means what you think it means.  You probably want something more like "consequence".

[darkota]

Is it technically possible to side-embed monero to bitcoin?

Yes.  Politically possible?  Very doubtful. The interesting question is whether it is possible to side-embed with a 2-way peg.

I think it would be enormously beneficial to bitcoin, as fungibility would be resolved.  XMR would be sacrificing most of its upside value risk in the process, however.

side embed monero to bitcoin would be the worst idea you can think off.

Bitcoin isnt going to be the main currency in a few years, that you can kind of be sure about...

crypto coins are made to improve upon bitcoin, not piggyback on it.

[edubai]

xmr.farm fast and reliable monero pool !  

[dga]

gpu mining destroyed the coin value
everyday its lower and lower

Just look at the net hash and difficulty, both are still climbing, this is like the coiled spring you see after any crypto has a big run up. Wont take much for the price to rocket and sellers at this price to be caught with their pants down.

Not really.  

(a)  If you believe the IRC chatter, the botnets are catching on.

(b)  The cryptonotes in general, and XMR/BBR in particular, have been unreasonably profitable to mine, and this can't last.

"Unreasonably" meaning that they've been more than a factor of two or three more profitable than other coins, while having a smaller marketshare than other GPU-based coins.  This means it's simply a matter of time before more miners re-point their rigs to XMR/BBR, and the diff will go up.  What's been preventing them has been the technical difficulties of running CryptoNote for people used to bitcoin-clones, and the "first mover" advantage of people hopping on to these coins at the beginning.

The price is not a function of the diff.  The diff is a function of the price.

Point b simply isn't true refer to the production cost discussed earlier in this or Ristos thread, in fact you were involved with the conversation at the time. For the vast majority of the last say two months XMR has been -ev to mine regarding production costs. I also explained how I know the majority of the network and its not botnets...

Furthermore if more people start pointing their GPU's (again GPU's are v close to cost of running CPU's) at XMR then that again negates the botnet aspect you speak of.


"The price is not a function of the diff.  The diff is a function of the price."

That depends really. If a coin has a higher diff you get less per $ when mining thus you have to get more $ per coin to cover your costs.

Yes, I was involved in that discussion.  It's unreasonable for EC2 to be profitable for any coin in the long run - its infrastructure is terribly mismatched to an optimal hardware configuration for mining.  Ergo, over time, any coin should move to below-EC2-profitability as people move onto more optimal hardware.

EC2 can be profitable in the short term because of increasing prices, swinging difficulty levels, or lack of mining competition due to factors that prevent other miners from jumping on with more-optimized hardware (such as the difficulty in compiling or using the software, the flakiness of the pools, etc.).

Re botnets:  The key phrase in my post is "are catching on".

One bot-herder claims about 500kh/s.  That's about 3.5% of the net hash.  I very carefully did not say that bots are a major factor yet.  But they're getting ramped up.  A coin with the near-parity of CPUs and GPUs that XMR has will remain very, very attractive for botnets for a long time.  The herder could, of course, be lying, but I suspect not:

Code:

4:22 < dfsdfg> Pending Balance: 17.574765835491 XMR
14:22 < dfsdfg> Total Paid: 26998.685819999999 XMR
14:22 < dfsdfg> Last Share Submitted: just now
14:22 < dfsdfg> Hash Rate: 573.16 KH/sec
14:22 < dfsdfg> Total Hashes Submitted: 651433558000

To avoid creating more posts:  Aminorex, I know quite well what the word function means, and I used it deliberately and carefully.  I concur with Anon136's point that there is nuance there because of the possibility of a 51% attack for unpopular coins, but to a first approxmation, I stand by my statement.  People who believe the difficulty affects the price (on more than a very short-term basis with poorly designed difficulty adaptation algorithms) do not understand the adaptive feedback loop that varies difficulty to keep the rate of coin production constant.

[aminorex]

 Aminorex, I know quite well what the word function means, and I used it deliberately and carefully.  

In that case you are wrong about the substance, because difficulty absolutely feeds back to price.

[dga]

 Aminorex, I know quite well what the word function means, and I used it deliberately and carefully.  

In that case you are wrong about the substance, because difficulty absolutely feeds back to price.

I clearly disagree with you as a first-order effect (noting the second-order effect I agreed upon with Anon136), as I stated, so perhaps you could try to shed a little light on why you believe this to be the case instead of simply restating your claim.

[darlidada]

Have you guys seen this article ? It is the first time Monero is mentioned at coindesk.com : the success of monero helped Poloniex to pay back to its customers the loss they suffered from the hack of march.

http://www.coindesk.com/poloniex-claims-customers-repaid-following-march-bitcoin-hack/

This is real PR.

[Limpuls]

Hey how to send XMR from wallet to poloniex balance? Because I want to sold them. I'm writting transfer 0 (my address) amount of xmr and payment id which I got from poloniex web. Simple wallet showing that I sent them but in poloniex I have nothing for already 30min. What I'm doing wrong?

[GreekBitcoin]

Hey how to send XMR from wallet to poloniex balance? Because I want to sold them. I'm writting transfer 0 (my address) amount of xmr and payment id which I got from poloniex web. Simple wallet showing that I sent them but in poloniex I have nothing for already 30min. What I'm doing wrong?

check for your tx on http://monerochain.info/ . If it is there you have to contact to Poloniex.

Also i think Poloniex needs 18 confirmations. Which means thats around 18 minutes...

[Limpuls]

Hey how to send XMR from wallet to poloniex balance? Because I want to sold them. I'm writting transfer 0 (my address) amount of xmr and payment id which I got from poloniex web. Simple wallet showing that I sent them but in poloniex I have nothing for already 30min. What I'm doing wrong?

check for your tx on http://monerochain.info/ . If it is there you have to contact to Poloniex.

Also i think Poloniex needs 18 confirmations. Which means thats around 18 minutes...

Yes, it's there. I will wait for more 20min. If still nothing then will contact with poloniex.

[cAPSLOCK]

Hey how to send XMR from wallet to poloniex balance? Because I want to sold them. I'm writting transfer 0 (my address) amount of xmr and payment id which I got from poloniex web. Simple wallet showing that I sent them but in poloniex I have nothing for already 30min. What I'm doing wrong?

Use the troll box if you need.  Deposits may take a moment.

[uvt9]

I'm writting transfer 0 (my address) amount of xmr and payment id which I got from poloniex web.

By saying (my address) do you mean your own wallet or Poloniex wallet's address ?

[Limpuls]

I'm writting transfer 0 (my address) amount of xmr and payment id which I got from poloniex web.

By saying (my address) do you mean your own wallet or Poloniex wallet's address ?

poloniex deposit address. Not my address, my bad.

[statdude]

gpu mining destroyed the coin value
everyday its lower and lower

Just look at the net hash and difficulty, both are still climbing, this is like the coiled spring you see after any crypto has a big run up. Wont take much for the price to rocket and sellers at this price to be caught with their pants down.

Not really. 

(a)  If you believe the IRC chatter, the botnets are catching on.

(b)  The cryptonotes in general, and XMR/BBR in particular, have been unreasonably profitable to mine, and this can't last.

"Unreasonably" meaning that they've been more than a factor of two or three more profitable than other coins, while having a smaller marketshare than other GPU-based coins.  This means it's simply a matter of time before more miners re-point their rigs to XMR/BBR, and the diff will go up.  What's been preventing them has been the technical difficulties of running CryptoNote for people used to bitcoin-clones, and the "first mover" advantage of people hopping on to these coins at the beginning.

The price is not a function of the diff.  The diff is a function of the price.

How can you measure how profitable it is to mine with GPU?
I didn't see it on any profitability sites.

[MCMK]

we want miner without 5,5% fee

This would help a lot.

+1

[0x6A]

Updated last binaries, blockchain, SYNCHORIZED OK, but can't send transaction. Wallet says everything is OK but actually there is no transaction wrote to blockchain. Am I the only one who have this problem? How can I solve it? I have been waiting for hours and retried(and waiting again) with no result. Thank you and sorry for my English

P.S.: also tried different sums(5-80 XMR) but useless=(

Code:

transfer 0 47sghzufGhJJDQEbScMCwVBimTuq6L5JiRixD8VeGbpjCTA12noXmi4ZyBZLc99e66NtnKff34fHsGRoyZk3ES1s1V4QVcB 80 5e93f22a6a468b2398fdbc03c19570ae17e28412e32d94a6c6d95bdbd1952f3c

[uvt9]

why do people still favor Poloniex for trading Monero instead of Mintpal ? It's quite strange, what's wrong with Mintpal ?

[dga]

gpu mining destroyed the coin value
everyday its lower and lower

Just look at the net hash and difficulty, both are still climbing, this is like the coiled spring you see after any crypto has a big run up. Wont take much for the price to rocket and sellers at this price to be caught with their pants down.

Not really. 

(a)  If you believe the IRC chatter, the botnets are catching on.

(b)  The cryptonotes in general, and XMR/BBR in particular, have been unreasonably profitable to mine, and this can't last.

"Unreasonably" meaning that they've been more than a factor of two or three more profitable than other coins, while having a smaller marketshare than other GPU-based coins.  This means it's simply a matter of time before more miners re-point their rigs to XMR/BBR, and the diff will go up.  What's been preventing them has been the technical difficulties of running CryptoNote for people used to bitcoin-clones, and the "first mover" advantage of people hopping on to these coins at the beginning.

The price is not a function of the diff.  The diff is a function of the price.

How can you measure how profitable it is to mine with GPU?
I didn't see it on any profitability sites.

(Hashrate * 86400 / difficulty) * block reward * exchange rate

You can grab the diff and reward from any of the pool websites, as an easy way:

http://mro.extremepool.org/

Diff = 835011296
reward ~= 15.8

So a 250 h/s 750ti  will produce about 0.4 XMR per day using tsiv's ccminer fork.  That's about .0014 BTC/day, or $0.92.  I haven't kept up on Claymore's speeds.

Not a great return for a nice GPU, but a really great return for a CPU (an i7-4770 gets a little more than that).

[GreekBitcoin]

why do people still favor Poloniex for trading Monero instead of Mintpal ? It's quite strange, what's wrong with Mintpal ?

Poloniex still has more volume for XMR...