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

[dreamspark]

I know a few people ranging to get a 1-2% (of total supply) position. Im currently aiming for 1%+ but will be doing it gradually as miners dump.

I mine to support the network , some friends mine to accumulate.

I think this has to do with how much you believe in the technology,devs and ofcourse BTC you can back your investment with.

Every investment is a risk.

1% is a huge portion to get to, particularly if you weren't an early miner. To even consider getting to 1% you must have a huge position already. 1% is 740 ish BTC at these prices. I'd be interested in your strategy for acquiring that many in a timely manner.

you got a zero to much, more like 18-19k xmr, so 74-80 btc.

Still, huge also for my perspective, i hold like 0.25% and i already feel very rich  

Have I?

Total supply is around 18mm so 1% is 180k. I wish I could buy another 1% of total supply for 74-80BTC!

Your thinking of available supply, you can't use that if you want to have a % of total supply unless you are going to keep buying at a rate that sustains that.

[dreamspark]

I wasnt an early miner but I had good positions on other coins that I got early into and still am trading for profit on other coins that have faster % gains for now.

The coins I get mining are just a bonus. You can daytrade XMR to accumulate, mine coins that might get future value or just straight up invest.

Im 50%+ there so its just a matter of time without investing more from my BTC stash.

Cool cool, I was alluding more to how you expect to buy another 90k XMR at a half decent price if you are 50% of the way to 1%. You are referring to total supply (not available supply) so 1% is 180k XMR.

[dawie]

do you own any yet? if not post an address.

Thx, I've just recently bought a few on Poloniex after some friends showed me to this thread about XMR.  We were all part of a KNC mining Group Buy where the administrator ran away with our money, but I've picked up some amazing contacts in the process.  We are still communicating in a brand new Skype Group, mainly raving about XMR's potential.

I've added tip addresses into my footer now 

your xmr address isnt working for me and i dont think its a problem on my end because i tried sending some back to myself and it worked fine.

Space in address. Copy to notepad and you can see more easily.

I've seen this in a few sigs already.

"sGR oyZk"

how do ya like that. hope he reads your message.

Sorry guys, had to run and feed the fiat-ponzi-game to stay alive (read: Go work a 9-5 job to keep the central banksters from stealing my house)
Wow, thx for the efforts in sending me a shiny coin.  I've never even sent a transaction with XMR yet and my address in the footer was an exchange address. Problem? 

@ matrix961: I could not replicate the space in TextPad editor though?  Great movie name btw.  I've just watched it again last week from a different perspective after learning about the monetary system we live under.

@Anon136: Could you please PM me the transaction ID so I can play with our block explorer at http://monerochain.info/.  Want to start getting used to this to teach others.

I have just downloaded the GUI wallet and running a node now. I've translated the GUI for the South Africans into Afrikaans so long.
Getting there one step at a time.

I see some interesting senior people arriving here.  The quality of this thread is sure going to get a huge bump.
Exciting!

[binaryFate]

Wow, thx for the efforts in sending me a shiny coin.  I've never even sent a transaction with XMR yet and my address in the footer was an exchange address. Problem?  

Yes, problem. You need a paymet ID to send to an exchange so that it can trace back the incomming coins to you. Now you'll have to ask people sending you donations the transaction ID. Quite a mess in perspective.

Remove this address from your signature now. You must set up your own wallet if you want a public donation address like that!

[edubai]

xmr.farm fast and reliable monero pool !  

[dawie]

Wow, thx for the efforts in sending me a shiny coin.  I've never even sent a transaction with XMR yet and my address in the footer was an exchange address. Problem?  

Yes, problem. You need a paymet ID to send to an exchange so that it can trace back the incomming coins to you. Now you'll have to ask people sending you donations the transaction ID. Quite a mess in perspective.

Remove this address from your signature now. You must set up your own wallet if you want a public donation address like that!

Done! Thx for the learnings.  Still a XMR newbie here. It is quite different to BTC 

[mindless]

Another great day at http://pool.cryptoescrow.eu
Our Luck Average is staying at: 367%
Our custom Daemon hasn't got stuck even once in 6 days - didn't need a restart, which means that maximum mining efficiency is guaranteed.

[Ivan166]

OP. please, put archived blockchain files for faster download in future. Thanks in advance.

[cAPSLOCK]

I disagree with the poster who suggested it as a good store of value and not as a usable currency. I personally think it is very much the opposite of that and due to the privacy features is a much more desirable currency to use for everyday transactions than any other options.

I do agree it can be useful for transactions, but I think it will shine for use in private transactions primarily.  Why would you not just use bitcoin otherwise?  What percentage of transactions will this be?  I do not know.

Don't get me wrong.  I am very bullish on XMR, and am just thinking out loud.

I personally see Monero (or it's conqueror) as a compliment of bitcoin... each owning a specific utility in the marketplace of payments and wealth storage.

[binaryFate]

I personally see Monero (or it's conqueror) as a compliment of bitcoin... each owning a specific utility in the marketplace of payments and wealth storage.

I think this is the one reason why so many bitcoin early adopters are comfortable investing in XMR, precisely because it's so complementary and not like other shitcoins that often implicitly aim at being superior to bitcoin while in fact they are fundamentally the same.

 

[strangewildthing]

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[uvwvj]

Using the gui wallet that is some have been using - I have my address where is my private code?

[RonMank]

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[dreamspark]

I disagree with the poster who suggested it as a good store of value and not as a usable currency. I personally think it is very much the opposite of that and due to the privacy features is a much more desirable currency to use for everyday transactions than any other options.

I do agree it can be useful for transactions, but I think it will shine for use in private transactions primarily.  Why would you not just use bitcoin otherwise?  What percentage of transactions will this be?  I do not know.

Don't get me wrong.  I am very bullish on XMR, and am just thinking out loud.

I personally see Monero (or it's conqueror) as a compliment of bitcoin... each owning a specific utility in the marketplace of payments and wealth storage.

Because Bitcoin is traceable and only quasi anonymous, with mass surveillance a real thing it makes sense if you want to transact privately. Dont forget with good blockchain forensics by just paying for a small thing p2p someone can identify your general wealth etc. Dont get me wrong there are plenty of ways to mitigate the problem but from a general ease of use POV if its anon by default its generally just better.

Thats the great thing, I agree that it will be great for private transactions and in a P2P world without banks a lot of day to day transaction will become private. But it can do both, it can be great as an anon day to day currency lending the general population a modicum of privacy and well suited to the private transactions you speak of.

[jonpry]

Wow this is the worst coin. There are not enough expletives to describe my experience fully. All I want to do is mine and dump, but oh so hard. First I get miner, check, seems to work but pool wants an address. No online wallets available so try to use exchange address but they all need payment ID. Uh oh, so here comes the wallet.  Stupid mother %^&* website. Go to downloads, says "Links for the binaries, source and other are available on getting started." which is like not a huge puzzle, but wtf is wrong with the people making this thing. Better believe those linux binary links at the top dont work. Dynamically linked against some strange ass glibc and boost. Try to go to "compilation instructions" link, well that doesn't work either. Amateur hour!. So I try to download that script. Which gives no warning to the fact that it is about to modify your apt-sources and try to hard upgrade your system libraries to incompatible versions. Like guess what folks, I use my computer to run other programs other than Monero!

Eventually I got the boost source installed and built, but monero never built fully. Suffering from some linker errors. I tried many different git revisions with same trouble. Finally give up and decide to use win32 binary inside of VM. Fairly painless to get an address using simplewallet. But now I want to send this crap coin to the exchange to drop it like it's hot. Not so fast in Monero land. Seems a blockchain.bin cannot be downloaded for 32bit windows for some reason. Which is nominally fine since even if i had it there seems to be no explanation of where to put the stupid file, so I decide to do the old fashioned sync. Well this has been going on for some time now, and my VM has downloaded over 40GB!!!! of data for 78 days of history. It already filled up the disk and I had to start deleting things. Although deleting the actual blockchain when this nightmare is over seems unlikely as I can't %^&* find it.

Please blow up this coin so I don't have to mine it anymore.

[Anon136]

Wow this is the worst coin. There are not enough expletives to describe my experience fully. All I want to do is mine and dump, but oh so hard. First I get miner, check, seems to work but pool wants an address. No online wallets available so try to use exchange address but they all need payment ID. Uh oh, so here comes the wallet.  Stupid mother %^&* website. Go to downloads, says "Links for the binaries, source and other are available on getting started." which is like not a huge puzzle, but wtf is wrong with the people making this thing. Better believe those linux binary links at the top dont work. Dynamically linked against some strange ass glibc and boost. Try to go to "compilation instructions" link, well that doesn't work either. Amateur hour!. So I try to download that script. Which gives no warning to the fact that it is about to modify your apt-sources and try to hard upgrade your system libraries to incompatible versions. Like guess what folks, I use my computer to run other programs other than Monero!

Eventually I got the boost source installed and built, but monero never built fully. Suffering from some linker errors. I tried many different git revisions with same trouble. Finally give up and decide to use win32 binary inside of VM. Fairly painless to get an address using simplewallet. But now I want to send this crap coin to the exchange to drop it like it's hot. Not so fast in Monero land. Seems a blockchain.bin cannot be downloaded for 32bit windows for some reason. Which is nominally fine since even if i had it there seems to be no explanation of where to put the stupid file, so I decide to do the old fashioned sync. Well this has been going on for some time now, and my VM has downloaded over 40GB!!!! of data for 78 days of history. It already filled up the disk and I had to start deleting things. Although deleting the actual blockchain when this nightmare is over seems unlikely as I can't %^&* find it.

Please blow up this coin so I don't have to mine it anymore.

All those other coins you are mining are just forks of bitcoin. They come built in with years of professional development and polishing. This is a new project with new code. Polish and user friendliness will come. Right now the devs are more focused on developing a solid core before making it accessible to every joe dick and harry.

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[bangersdad]

Wow this is the worst coin. There are not enough expletives to describe my experience fully. All I want to do is mine and dump, but oh so hard. First I get miner, check, seems to work but pool wants an address. No online wallets available so try to use exchange address but they all need payment ID. Uh oh, so here comes the wallet.  Stupid mother %^&* website. Go to downloads, says "Links for the binaries, source and other are available on getting started." which is like not a huge puzzle, but wtf is wrong with the people making this thing. Better believe those linux binary links at the top dont work. Dynamically linked against some strange ass glibc and boost. Try to go to "compilation instructions" link, well that doesn't work either. Amateur hour!. So I try to download that script. Which gives no warning to the fact that it is about to modify your apt-sources and try to hard upgrade your system libraries to incompatible versions. Like guess what folks, I use my computer to run other programs other than Monero!

Eventually I got the boost source installed and built, but monero never built fully. Suffering from some linker errors. I tried many different git revisions with same trouble. Finally give up and decide to use win32 binary inside of VM. Fairly painless to get an address using simplewallet. But now I want to send this crap coin to the exchange to drop it like it's hot. Not so fast in Monero land. Seems a blockchain.bin cannot be downloaded for 32bit windows for some reason. Which is nominally fine since even if i had it there seems to be no explanation of where to put the stupid file, so I decide to do the old fashioned sync. Well this has been going on for some time now, and my VM has downloaded over 40GB!!!! of data for 78 days of history. It already filled up the disk and I had to start deleting things. Although deleting the actual blockchain when this nightmare is over seems unlikely as I can't %^&* find it.

Please blow up this coin so I don't have to mine it anymore.

Posts like this just make me want to buy more and more XMR..thank you 

[jonpry]

Why do you think it's so profitable? High tech knowledge requirement keeps the stupid dumpers out, like you.

Don't think for a second that I will be stopped by this. Merely slowed down temporarily. I'm not sure what kind of high tech knowledge you need to have your system nearly destroyed and the life sucked out of your internet.

[dreamspark]

Why do you think it's so profitable? High tech knowledge requirement keeps the stupid dumpers out, like you.

Don't think for a second that I will be stopped by this. Merely slowed down temporarily. I'm not sure what kind of high tech knowledge you need to have your system nearly destroyed and the life sucked out of your internet.

Judging by your post yesterday ;

Pending Balance: 2.730718360078 XMR

Thing ever pays?

I don't think we have too much to worry about you being "slowed down temporarily"...

Its a brand new project that is completely different to BTC, in some environments that aren't standard 64 bit windows some degree of knowledge is required.