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

[kbm]

Hey I've got a technical question I don't think I've asked before:

When I open my wallet it says:

Code:

[wallet abcdef]:

I changed the 6 characters here, but what are those?

[AnonyMint]

(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)

BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation.

Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course.

over $2 million/day, almost $1 billion a year is nothing for the whole world..this is the internet..
there is still plenty of area to grow, like this.. www.coindesk.com/philippines-startups-fulfil-bitcoins-remittance-promise/

Ty that is where I am. Listen from 33:40 min point (very articulate filipino).

I will hook up with those guys.

[canonsburg]

Hey I've got a technical question I don't think I've asked before:

When I open my wallet it says:

Code:

[wallet abcdef]:

I changed the 6 characters here, but what are those?

First 6 char of your wallet address.

[Primitive]

It seems we now know where the "bottom" is, I'm buying all XMR I can, for the long term we need to acquire patience 

i joined the believers a couple weeks ago.  at that time people were thinking it was pretty darn low.  we've dropped a lot since.   do you think this new low is the real low because of that 100BTC support?  or other reason.

hope youre right.  i'd love to buy more and bring down my avg cost.  but i'm short on bitcoin :/

[ALToids]

The altcoin market is still reeling from the December highs.  This may be a transient bump up or a stable base.  Only time will tell.

[kbm]

First 6 char of your wallet address.

Oh! Thanks!

Show's how often I pay attention to the characters instead of copying and pasting  

Have some funny satire .. made me laugh at least.

[Anon136]

First 6 char of your wallet address.

Oh! Thanks!

Show's how often I pay attention to the characters instead of copying and pasting  

Have some funny satire .. made me laugh at least.

I lol'd. Its funny to get a peek at us through their eyes.

[florida.haunted]

the best is this:
 - buy 51%
 - sell 51%
 - change your client to not accept new blocks and only build your own chain beginning at the time where you had 51%
 - wait...

obviously its simplyfied (also depends on the implementation)...but as always with basic logic flaws: you cant solve it buy building on top of it...

but i guess you get the point... need a beer now... germany WON!!!!

It's very strong assertion. But I am not technical specialist. Can somebody confirm this on all PoS coins?

I did not know this fundamental fact - PoS coins are more vulnerable than PoW ones. Althoug PoSes are brandished as 51% attack-resistant despite!

[rpietila]

(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)

BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation.

Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course.

BTC daily inflation is 0.03% of market cap.
XMR's is 1.15%.

That is 1.8 orders of magnitude.

Also BTC will be making thousands of people rich with a life-changing amount of money when it 10-doubles next time.
There is hardly anyone with such large XMR holding (and so little other assets) that the coin's 10-doubling would change her situation at all.

It is important to know these differences between coins, although my position is that the price appreciation curves will still look similar, although the source of the selling pressure is different.

[smooth]

(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)

BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation.

Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course.

BTC daily inflation is 0.03% of market cap.
XMR's is 1.15%.

That is 1.8 orders of magnitude.

Also BTC will be making thousands of people rich with a life-changing amount of money when it 10-doubles next time.
There is hardly anyone with such large XMR holding (and so little other assets) that the coin's 10-doubling would change her situation at all.

It is important to know these differences between coins, although my position is that the price appreciation curves will still look similar, although the source of the selling pressure is different.

Good points. I'd add though, that 1.15% daily inflation is numerically unsustainable and declines very rapidly, just due to 1.15% more market cap each day (and also the emission decline, though that is a smaller factor). It will be cut in half in just the next three months, again less than six months later, etc.

What does 10-doubles mean?

[rpietila]

Good points. What does 10-doubles mean?

I've been using it to mean == "goes up to a value 10 times higher the original value" == +900%.

Maybe I accidentally invented it and it's not in general use 

[smooth]

Payments have been made to the winners of the GUI bounty (a small amount in non-XMR funds remains to be paid).

Please congratulate the winners, and when you have the opportunity to do so, take a look at their excellent work. Each winner contributed useful GUI wallet code that will help move the XMR ecosystem forward.

Details about each of the winning submissions are available on the GUI bounty thread, and some if not all of the GUI wallets also have their own threads.

Announcement of winners: https://bitcointalk.org/index.php?topic=589561.msg7738735#msg7738735

Announcement of payments: https://bitcointalk.org/index.php?topic=589561.msg7833251#msg7833251

[rpietila]

1.15% daily inflation is numerically unsustainable and declines very rapidly, just due to 1.15% more market cap each day (and also the emission decline, thought that is a smaller factor). It will be cut in half in just the next three months, again less than six months later, etc.

Yes, I am aware of this.

Talking about inflation, I'd think I could be of service in the workgroup that designs the XMR inflation rate in the far future when the "initial mining" inflation goes below 1% APR. My credentials are a major in Economics, plus an acclaimed forum member told me I'm among the TOP-3 monetary economists he has met.

[smooth]

1.15% daily inflation is numerically unsustainable and declines very rapidly, just due to 1.15% more market cap each day (and also the emission decline, thought that is a smaller factor). It will be cut in half in just the next three months, again less than six months later, etc.

Yes, I am aware of this.

Talking about inflation, I'd think I could be of service in the workgroup that designs the XMR inflation rate in the far future when the "initial mining" inflation goes below 1% APR. My credentials are a major in Economics, plus an acclaimed forum member told me I'm among the TOP-3 monetary economists he has met.

Has he met more than three?

I'm sure your input will be most welcome.

[rpietila]

Has he met more than three?

Indeed. Have you met even one? 

[arielbit]

(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)

BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation.

Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course.

over $2 million/day, almost $1 billion a year is nothing for the whole world..this is the internet..
there is still plenty of area to grow, like this.. www.coindesk.com/philippines-startups-fulfil-bitcoins-remittance-promise/

Ty that is where I am. Listen from 33:40 min point (very articulate filipino).

I will hook up with those guys.

my country 

[digicoin]

Good points. I'd add though, that 1.15% daily inflation is numerically unsustainable and declines very rapidly, just due to 1.15% more market cap each day (and also the emission decline, though that is a smaller factor). It will be cut in half in just the next three months, again less than six months later, etc.

Any formula to calculate emission rate?

Thanks

[equipoise]

^
https://bitcointalk.org/index.php?topic=583449.msg7516799#msg7516799
https://bitcointalk.org/index.php?topic=597878.msg7202538#msg7202538

[Jungian]

Is there an organised bounty list yet?

[mindless]

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