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

[devphp]

Thats because you also promote NXT, a know scam, you don't know better. Dogecoin devs backstabbed the community when they decided not fix a bug in the code that would make doge be minted forever at a fixed rate (10k). Doge will never overtake anything anymore, it was put down, by their own developers that became blind with their 15min of fame, those who are not bound by commitment with lines of code on 3rd-party hands will dump everything and wait for the next sane project to rise and invest again.

It's all your personal opinion. I don't consider that a bug, and you are free to consider anything a scam.

[AnonyMint]

...Sr. Member with fancy talks pushing it to the cliff sideways

I am not pushing it any direction. It speaks for itself. I am speaking my understanding of the facts. I am trying to influence the design to do what I analyze to be best. And everyone here is free to present counter-logic.

If you just want cheer leading, I will leave. (and I think that is best. Bye)

[cAPSLOCK]

If you just want cheer leading, I will leave. (and I think that is best. Bye)

Oh goody.  My favorite part is when you leave over and over again.

I really do like you SM III.  You know you and I may be related.  Are any of your ancestors from the Appalachians?

[HardwarePal]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Nekomata, Tx fees are the kiss of death. Please do them.   (so much for your blah, blah)

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Yes please don't differentiate yourself from Bitcoin. And who are you targeting anyway with your mining client, the nimcompoops here or the masses?

Explain why TX's are worse than a fixed 1% for example or fixed block reward.

Imo :

1. TX's are bad as they will be low reward (unless the coin is high priced) + might lead to centralization , but if the coin goes mainstream will be alot more worthwhile when coins are moving around.

2. % Inflation is only favorably if its the same rate as lost coins ( to small a sample size in cryptos to predict what the real rate is)

3. Fixed Block reward is a somewhat hard one to nail as theres no correct formula you can derive even if your the best mathematician in the world. (only close estimates)

If you look at Bitcoin as an example people dont even ROI on their hardware but still mine instead of just buying coins.

I prefer TX's to be honest as its the best investment wise (no inflation that would cause older coins to depreciate)

[HardwarePal]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Definitely not wise to rock the boat.

Perpetual inflation - a death sentence.

I live in Cyprus btw.  

[lordoliver]

Code:

bitmonero wallet v0.8.9.65()
[wallet 48x3TT]: transfer 0 <address> 0.5 bd293b224aae610835121bd2b0b5887e45ada62da4ff3467bfc3f65a42652d21
Money successfully sent, transaction <8baa3bc1d4d98a3c83c5d8872ab26152a280115d8f77823a76333ff6e50463f4>
[wallet 48x3TT]: refresh
Starting refresh...
Refresh done, blocks received: 502                              
balance: 863.279174920000, unlocked balance: 862.932625920000

what can I do?

[equipoise]

^About what?

[lordoliver]

^About what?

its still not sent but locked.

[phzi]

^About what?

its still not sent but locked.

Wait a while.  Sometimes spends can take a bit. I've had to wait up to an hour for a large (in bytes) transaction to confirm when the network was busy.

[lordoliver]

^About what?

its still not sent but locked.

Wait a while.  Sometimes spends can take a bit. I've had to wait up to an hour for a large (in bytes) transaction to confirm when the network was busy.

I waited for 500 blocks since a lot of hours already...

[equipoise]

^It's not in the blockchain. Did you sent it with the current version from the OP? If you are using two months old version it's not sent with the right fee.

[lordoliver]

^It's not in the blockchain. Did you sent it with the current version from the OP? If you are using two months old version it's not sent with the right fee.

this is now the third question...


bitmonero wallet v0.8.9.65()
[wallet 48x3TT]: transfer 0 <address> 0.5 bd293b224aae610835121bd2b0b5887e45ada62da4ff3467bfc3f65a42652d21
Money successfully sent, transaction <8baa3bc1d4d98a3c83c5d8872ab26152a280115d8f77823a76333ff6e50463f4>
[wallet 48x3TT]: refresh
Starting refresh...
Refresh done, blocks received: 502                              
balance: 863.279174920000, unlocked balance: 862.932625920000

is the version too new?

[Johnny Mnemonic]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Definitely not wise to rock the boat.

Perpetual inflation - a death sentence.

I live in Cyprus btw.  

Feel free to explain yourself. We need some type of inflation to keep transaction fees from escalating. I prefer a fixed percentage inflation, and have argued my reasons plenty here and in the economy thread. It solves a number of problems.

[HardwarePal]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

I am starting to realize that it is probably wise not to rock the boat in this respect. It's probably not that big of a deal anyway and we could scare off untold numbers of people with talk of perpetual inflation of any sort.

Definitely not wise to rock the boat.

Perpetual inflation - a death sentence.

I live in Cyprus btw.  

Feel free to explain yourself. We need some type of inflation to keep transaction fees from escalating. I prefer a fixed percentage inflation, and have argued my reasons plenty here and in the economy thread. It solves a number of problems.

That is a very tricky question.

Is Monero a :
a) store of value
b) medium of exchange
c) both

[rpietila]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

Since antiquity, the amount of gold has roughly gone up 100x. This is equal to 0.23% average APR.

I will continue in the Monero economics thread.

[smooth]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

I think what was meant here was the reward model in bitcoin. The soundness of relying on transaction fees to incentivize mining is doubted by many, including me.

I wish we had more from Satoshi on why he thought that could possibly work, because it seems so crazy that my initial reaction is to assume I'm missing some important point.

[HardwarePal]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

I think what was meant here was the reward model in bitcoin. The soundness of relying on transaction fees to incentivize mining is doubted by many, including me.

I wish we had more from Satoshi on why he thought that could possibly work, because it seems so crazy that my initial reaction is to assume I'm missing some important point.

Value increase I would suppose

[smooth]

-_-
blah blah blah, monero should not be overly inflationary, it must go like bitcoin, after mining 'stops', only transactions fees are rewarded to the miners, anything more will kill a currency, bitcoin model is well approved.

Nothing is approved. We have no idea what will happen to Bitcoin in a near future.

Gold is well approved, and its inflation has stayed at about 0%-2% for millennia

I think what was meant here was the reward model in bitcoin. The soundness of relying on transaction fees to incentivize mining is doubted by many, including me.

I wish we had more from Satoshi on why he thought that could possibly work, because it seems so crazy that my initial reaction is to assume I'm missing some important point.

Value increase I would suppose

Value increase supports a declining nominal reward, and yes that fits with the deflationary model, but transaction fees is something else entirely.

[HardwarePal]

Tx fees are based on the original money supply. (After total coin supply has been mined)

No additional coin production + lost coins etc would cause exactly that deflation in the supply which would cause inflation on the price (value increase).

Edit : Sorry for any syntax errors or wrong wording

[smooth]

Tx fees are based on the original money supply.

No additional coin production + lost coins etc would cause exactly that deflation in the supply which would cause inflation on the price (value increase).

It isn't the value issue I have with transaction fees, it is the fact that for transaction fees to exceed marginal costs (i.e. to serve as a funding source for proof-of-work), mining has to be monopolized, and then other problems flow from there. I can't believe that is what Satoshi intended.

I know there is a comment or two from him where he considered the whole mining model to be a bit unfinished, so perhaps he just solved what he could and then moved on.