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

[amysun]

so sad the 50btc buy wall at 0.004 is over.

[Mumbles]

I think this is a pretty reasonable timeline. I might argue for October instead of December (3 months vs 6 months), but the idea is the same. There is a rapidly closing window of opportunity before some other coin wins, perhaps a different CryptoNote derivative that has a much more marketing savy dev team.

Well if I am not able to use this coin without assistance before Christmas, I will sell it all...

[statdude]

so sad the 50btc buy wall at 0.004 is over.

yeah, it was fun to watch 

[Rias]

On second thought. Botnet operators may not neccisarily dump this coin. It's the PERFECT medium of exchange for that sort of person. This will be the hacker coin. Maybe by making such a memory hard hashing function, we have inadvertently put it into the hands of exactly the people to whom it is most useful.

It might be the case that Monero botnet owners are actually looking for a long term investment, but I suspect this is opposite to their general logic. If you have a botnet (owned or rented) or a large number of Amazon EC2 instances, you need to cover the costs. This is a regular business for dumpers, not the investment vehicle.

Botnet dumping issue will continue as long as botnet mining is profitable, which is a balance between the average mining reward and the exchange rate. The price simply can't go up radically if it is profitable to downsell the mined coins immediately. In my opinion, it is better to wait either until the block reward is halved (half a year or something) or difficulty drops significantly (indicator that botnet owners are leaving the coin due to low margin). Until then I expect the worst scenario for XMR when exchange rate is crashing even more as the market moves to equilibrium.

[florida.haunted]

Hi, do somebody know, what's in the wind?

https://bitcointalk.org/index.php?topic=673203

Are they real cryptonote creators or that is man-in-the-middle attack? What do they want actually?

[villabacho]

Hi, do somebody know, what's in the wind?

https://bitcointalk.org/index.php?topic=673203

Are they real cryptonote creators or that is man-in-the-middle attack? What do they want actually?

As the forking guide is linked on the cryptonote homepage, I would assume it is actually from the cryptonote creators.

Not sure what they want, but it's not necessarily bad for the established CryptoNote coins. Surely there'll be a ton of
shitcoins coming from that, but possibly also some good new ideas, and maybe some of these ideas are easy to integrate
into the "veteran" cryptonote coins given that their devs are pretty familiar with the code.

Means more competition inside Cryptonode world, but also more attention for CryptoNote as a whole.

[equipoise]

or a large number of Amazon EC2 instances, you need to cover the costs. This is a regular business for dumpers, not the investment vehicle.

With a c3.8xlarge Amazon EC2 the Monero price should be more then 25$ for 1 XMR in order to cover the costs:
1.68$ per hour * 24 hours = 40.32$ per day
<MoneroBot> With 1000 H/s you should get 1.36 XMR per Day
40.32 / 1.36 = 29.65 $ per 1 XMR to just cover the costs.
The people currently selling are mining on already payed GPU rigs with free or cheep electricity, system admins or students with access to large CPU farms (electricity payed from their institution), botnets (you should be very ignorant if you can't find if a botnet is using your PC to mine) or bought earlier on lower prices. They'll continue to sell no meter the price, because it's free money for them. I doubt they are selling all the mined XMR, but they are selling most of it. Home mining on a i7 CPU is still profitable, but you are mining 0.2 XMR per day. By the way 10% of all the XMR are now mined - 90% to go - still high inflation, but it's becoming irreversibly lower each day and with the XMR potential the price won't go much lower. I doubt the price will touch 0.003 again and I'll be very surprised if it touches 0.002. If it goes below 0.0018 (even if all the governments put a ban on XMR before the I2P C implementation is ready) I would never buy any alt again.

[florida.haunted]

I doubt the price will touch 0.003 again and I'll be very surprised if it touches 0.002. If it goes below 0.0018 (even if all the governments put a ban on XMR before the I2P C implementation is ready) I would never buy any alt again.

Do you or somebody know a progress with I2P integration into Monero? It was announced more than a month ago, I've not seen devs mentioned on it since that announce...

[equipoise]

^A good, tested and trusted C implementation should be at least 4-8 months away (this is just my approximation). Someone could create a CN clone shitcoin with the java I2P implementation, but it won't last for long before it fails and it'll be quick pump and dump coin. If someone implement it (C, not java) in a month without the testing needed it won't be trusted and I suppose the Monero devs won't merge it soon after.

[superresistant]

^A good, tested and trusted C implementation should be at least 4-8 months away (this is just my approximation). Someone could create a CN clone shitcoin with the java I2P implementation, but it won't last for long before it fails and it'll be quick pump and dump coin. If someone implement it (C, not java) in a month without the testing needed it won't be trusted and I suppose the Monero devs won't merge it soon after.

The C or C++ implementation of I2P is going to be the bomb but I don't expect it next month.

[mindless]

Hi, Fellow Miners,

We want to make an announcement, that the daemon we use at:
http://pool.cryptoescrow.eu
Is one of the most stable daemons available on the market.

Since the daemon update 5 days ago, our Monero daemon never got stuck.
Other pools are usually restarting the daemon every 30minutes which
results in wasted hashes, because the daemon needs some time to save
the blockchain and to restart.
On average it takes around 90 seconds.

The math is simple:
48 restarts x 90 seconds = 4320 seconds = 72 minutes = 5% of all hashes wasted.

We do not waste these 5% of all the hashes.

[sang]

or a large number of Amazon EC2 instances, you need to cover the costs. This is a regular business for dumpers, not the investment vehicle.

With a c3.8xlarge Amazon EC2 the Monero price should be more then 25$ for 1 XMR in order to cover the costs:
1.68$ per hour * 24 hours = 40.32$ per day
<MoneroBot> With 1000 H/s you should get 1.36 XMR per Day
40.32 / 1.36 = 29.65 $ per 1 XMR to just cover the costs.
The people currently selling are mining on already payed GPU rigs with free or cheep electricity, system admins or students with access to large CPU farms (electricity payed from their institution), botnets (you should be very ignorant if you can't find if a botnet is using your PC to mine) or bought earlier on lower prices. They'll continue to sell no meter the price, because it's free money for them. I doubt they are selling all the mined XMR, but they are selling most of it. Home mining on a i7 CPU is still profitable, but you are mining 0.2 XMR per day. By the way 10% of all the XMR are now mined - 90% to go - still high inflation, but it's becoming irreversibly lower each day and with the XMR potential the price won't go much lower. I doubt the price will touch 0.003 again and I'll be very surprised if it touches 0.002. If it goes below 0.0018 (even if all the governments put a ban on XMR before the I2P C implementation is ready) I would never buy any alt again.

Can we stop doing EC2 math with the wrong numbers? Only the uninitiated are paying full price for EC2 instances.

You are correct however that it is not profitable on EC2 and it hasn't been since the price fell below about 0.006 - unless of course your name starts with a C and you have a killer nVidia GPU miner.

[equipoise]

^Are you paying less then 0.22$ per hour for EC2 c3.8xlarge? This is 7.63 times lower then the official price on their site. I never used their services, so I'm "uninitiated".

[sang]

^Are you paying less then 0.22$ per hour for EC2 c3.8xlarge? This is 7.63 times lower then the official price on their site. I never used their services, so I'm "uninitiated".

That's a little bit lower, but yeah pretty close to that price. Your looking at the wrong "official price". :-)

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[edubai]

xmr.farm fast and reliable monero pool !  

[Dogeshop_eu]

What is I2P anyway?

[AlexGR]

What is I2P anyway?

IP obfuscation solution

[superresistant]

What is I2P anyway?

It is the only way to hide your IP.
As long as the network get your IP when connecting your client, you are not anonymous.

[JohnD]

Does something like a Mining profitablity calculator already exist?

I have some pretty cheap cloud servers mining on monero but i do not know if it is profitable.