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

[smooth]

(1) enthusiasts and benefactors can mine on their CPUs and GPUs (they never mine at profitability, they gain utility from securing the network at a loss)

This isn't even true. I estimated the break even for CPU mining on a conventional desktop CPU at about 0.09 USD/kwh a few days ago, and lower higher on some more power-efficient CPUs. The numbers might be a bit different now, I'm not sure. That exists for many people at least in cheaper US markets and probably some other markets, and certainly exists for anyone using electric space heaters (which makes the effective rate 0/kwh)

GPUs are somewhat more power efficient than CPUs, so the break even electricity rate is higher, though the opportunity cost of mining something else on the GPUs may also be higher (I'm not sure since I'm not involved in that right now).

EDIT:

These profit margins leave little room for recovering capital costs, which as xulescu points out is exactly where we want to be, because it precludes building big dedicated mining farms. You can mine slightly profitably or at a small loss using equipment you already own for some other purpose, but there is little to no incentive to scale up.

Although the Cryptonote group seems to be scammers that I despise, I still applaud the ingenuity of the designers having achieved something that is quite unique and remarkable in the mining space.

[smooth]

I'm pretty sure there is a forum rule against pool advertisements. Not sure if one announcement for new pools is allowed, that might be the case.

[ioang]

so its monero a good coin to mine ?
i have a fx  6300 and gt 430.I can have almost 500/h/s
Where can i exchange my monero? or is it good to stay in my wallet till it increases

[burnbabyburn71]

so its monero a good coin to mine ?
i have a fx  6300 and gt 430.I can have almost 500/h/s
Where can i exchange my monero? or is it good to stay in my wallet till it increases

Right now I would mine Dashcoin right now (most profitable cryptonote coin), and you can trade Dashcoin for Monero on Poloniex like I'm doing. Check out minergate.com. Its really easy to setup and good for beginners. The GUI miner they have will work for your GPU too. Selling your Monero for BTC isn't really good right now though, since there are already too many people selling Monero causing the price to decrease. But you're free to do what you like.

[argentinx]

burnbabyburn71

actualy is the same
500 hs
in a day are mined
778.000 dsh == 0,57 xmr
on xmr in a day
0,58
so you are wrong

[burnbabyburn71]

So who here thinks that the emission rate of Monero should be reduced? (Emission rate = The amount of Monero rewarded to Miners per day)



As far as I can tell there would be two likely outcomes, one positive and one negative:


Positive: solve the issue of overwhelming sell pressure (which would most probably lead to higher/stable prices also less fear and doubt)

Negative: miners would get angry about the mining rewards being lowered

[burnbabyburn71]

burnbabyburn71

actualy is the same
500 hs
in a day are mined
778.000 dsh == 0,57 xmr
on xmr in a day
0,58
so you are wrong

I just did the calculation on Minergate and



500h/s = 0.48573 XMR a day

or 500h/s = 751,408 DSH a day (751,408 DSH = 0.55604192 XMR)

Dashcoin is therefore 14.5% more profitable


Although that's still not really profitable at all, I can't believe how unprofitable mining is these days.

[nioc]

So who here thinks that the emission rate of Monero should be reduced? (Emission rate = The amount of Monero rewarded to Miners per day)



As far as I can tell there would be two likely outcomes, one positive and one negative:


Positive: solve the issue of overwhelming sell pressure (which would most probably lead to higher/stable prices also less fear and doubt)

Negative: miners would get angry about the mining rewards being lowered

It's recently been discussed IIT, a few weeks back.  Sorry I can't link you to it but I'm sure you can find it.

[burnbabyburn71]

So who here thinks that the emission rate of Monero should be reduced? (Emission rate = The amount of Monero rewarded to Miners per day)



As far as I can tell there would be two likely outcomes, one positive and one negative:


Positive: solve the issue of overwhelming sell pressure (which would most probably lead to higher/stable prices also less fear and doubt)

Negative: miners would get angry about the mining rewards being lowered

It's recently been discussed IIT, a few weeks back.  Sorry I can't link you to it but I'm sure you can find it.

Crap, I guess I missed it. Do you remember what the conclusion was? Did everyone come to some sort of agreement?

[argentinx]

yea minergate ........
calculations are wrong

[burnbabyburn71]

yea minergate ........
calculations are wrong

How so? Minergate has been fairly reliable for me to calculate profits of mining. I've been using it ever since it launched.

[smooth]

Did everyone come to some sort of agreement?

No. More like everyone had a different opinion.

[OrientA]

so its monero a good coin to mine ?
i have a fx  6300 and gt 430.I can have almost 500/h/s
Where can i exchange my monero? or is it good to stay in my wallet till it increases

Right now I would mine Dashcoin right now (most profitable cryptonote coin), and you can trade Dashcoin for Monero on Poloniex like I'm doing. Check out minergate.com. Its really easy to setup and good for beginners. The GUI miner they have will work for your GPU too. Selling your Monero for BTC isn't really good right now though, since there are already too many people selling Monero causing the price to decrease. But you're free to do what you like.

I thought DSH was delisted from Poloniex.

[burnbabyburn71]

so its monero a good coin to mine ?
i have a fx  6300 and gt 430.I can have almost 500/h/s
Where can i exchange my monero? or is it good to stay in my wallet till it increases

Right now I would mine Dashcoin right now (most profitable cryptonote coin), and you can trade Dashcoin for Monero on Poloniex like I'm doing. Check out minergate.com. Its really easy to setup and good for beginners. The GUI miner they have will work for your GPU too. Selling your Monero for BTC isn't really good right now though, since there are already too many people selling Monero causing the price to decrease. But you're free to do what you like.

I thought DSH was delisted from Poloniex.

Maybe, but there is still a DSH/XMR market. Dashcoin actually has the most volume in the XMR markets.
https://poloniex.com/exchange/xmr_dsh

[superresistant]

 
Hey what if we make a Monero movie like "The rise and rise of Bitcoin" ?

Something simple like the devs working and explaining what they are doing with human understandable sentences and Monero supporters explaining their vision and ideas and also some miners building crazy big rigs.

[burnbabyburn71]

Did everyone come to some sort of agreement?

No. More like everyone had a different opinion.

So you decided to leave things the way they are?

How about a http://strawpoll.me/

[burnbabyburn71]

Hey what if we make a Monero movie like "The rise and rise of Bitcoin" ?

Something simple like the devs working and explaining what they are doing with human understandable sentences and Monero supporters explaining their vision and ideas and also some miners building crazy big rigs.

Sounds cool, ambitious. I like it. It'll give Monero a wider market, not just techies. I'm up for it. Someone mentioned earlier in this thread how Supercoin failed due to lack of marketing and stuff even though it had good technology. Don't want the same thing to happen to Monero.

[smooth]

Hey what if we make a Monero movie like "The rise and rise of Bitcoin" ?

Something simple like the devs working and explaining what they are doing with human understandable sentences and Monero supporters explaining their vision and ideas and also some miners building crazy big rigs.

That's a great idea.

[smooth]

Did everyone come to some sort of agreement?

No. More like everyone had a different opinion.

So you decided to leave things the way they are?

Leaving things as they are doesn't require a decision. A decision would be needed to change. No such decision has been made.

[superresistant]

Hey what if we make a Monero movie like "The rise and rise of Bitcoin" ?

Something simple like the devs working and explaining what they are doing with human understandable sentences and Monero supporters explaining their vision and ideas and also some miners building crazy big rigs.

Sounds cool, ambitious. I like it. It'll give Monero a wider market, not just techies. I'm up for it. Someone mentioned earlier in this thread how Supercoin failed due to lack of marketing and stuff even though it had good technology. Don't want the same thing to happen to Monero.

That's a great idea.

We would not need to travel around the world. Every participant could shoot with his own webcam (or better if he has) and upload it on a common server where every participant could look, comment and vote for the videos to keep or give advices to re-shoot.