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

[shojayxt]

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.

It's not just XMR but other legitimate coins are being sold off while money keeps flowing into ICO's that are nothing more than vaporware.  People don't want to wait.  They see a snazzy graphic and a bunch of "Change the World" promises and they jump.  People are just chasing after the next pump and dump. 

I posted in this thread some time ago that people were not going to wait months for a GUI or even a decent website.  I got berated yet I was correct.  People are not going to wait when they see these other coins pop up out of nowhere and soar in value. 

I have nothing bad to say about the dev team.  They all have lives, families, jobs etc...  They can't be expected to accomplish these things on their own time for little or no compensation.  It's just an unfortunate situation.  Monero needed rapid development months ago.  The Monero community needs to figure out a way to pay the devs so they can focus on development .  Some of those ICO's are raising hundreds of thousands of dollars for nothing more than a concept and a bunch of promises while existing and promising tech flounders for lack of funding.

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[buybitcoinscanada]

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.

It's not just XMR but other legitimate coins are being sold off while money keeps flowing into ICO's that are nothing more than vaporware.  People don't want to wait.  They see a snazzy graphic and a bunch of "Change the World" promises and they jump.  People are just chasing after the next pump and dump. 

I posted in this thread some time ago that people were not going to wait months for a GUI or even a decent website.  I got berated yet I was correct.  People are not going to wait when they see these other coins pop up out of nowhere and soar in value. 

I have nothing bad to say about the dev team.  They all have lives, families, jobs etc...  They can't be expected to accomplish these things on their own time for little or no compensation.  It's just an unfortunate situation.  Monero needed rapid development months ago.  The Monero community needs to figure out a way to pay the devs so they can focus on development .  Some of those ICO's are raising hundreds of thousands of dollars for nothing more than a concept and a bunch of promises while existing and promising tech flounders for lack of funding.

If there was a proper funding framework in place this could be improved significantly. These hodgepodge funding methods that have been going on are not going to cut it. Yes I know, it's an open project & I should do it instead of blabbering about it. Well I don't have the skills & knowledge, but it's obvious it is greatly needed to further ensure XMR's survival. Myself & surely others could put up a bounty for someone to implement a in-depth bounty & funding framework. Per-task bounties, funding current dev's, hiring more/full-time dev's & paying for professional services such as code review, cryptography review, etc need to be covered in a way that donators know exactly what features, tasks, initiatives they are funding, how much & why they cost, priority that they will receive, etc, etc, etc. This can act as a voting system for feature prioritization as well. The amount of donations features & tasks receive speaks more honestly that any other consensus IMO (yes in ways it is still vulnerable to a wealthy enemy, most things are.) This is about as sybil-resistant a voting system as we can get. Anyways, Mike Hearns Lighthouse Project (http://blog.vinumeris.com/2014/05/17/lighthouse/)  comes to mind when thinking what this might look like. Build the network of investors/donators & developers working on the coin with a frictionless platform to connect, inform & enable them, accelerating the development, attracting more investors/developers/community members. It becomes a self feeding, accelerating loop.

What about even forking Lighthouse for XMR. Possible? (http://blog.vinumeris.com/2014/05/17/lighthouse/)

[novag]

Inflation kills this coin. Is not it clear?

[silencesilence]

Inflation kills this coin. Is not it clear?

the first 2 years will be so  

edit:
I'm a huge loss already made me funny

[David Latapie]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

[superresistant]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

[David Latapie]

If there was a proper funding framework in place this could be improved significantly.

As we (and fluffypony in particular), stated it, the issue is not funding (not now), but finding good enough developper and them familiarizing themselves with the code. More money won't make things evolve faster, at least for the coin.

Same thing for "code review, cryptography review": code review is being done as we speak, and cryptography review also - we exchange with our academic cryptographer on a litterally daily basis.

I did not know Lighthouse, seems interesting

sr: "stop trading, baby" ;-)

[forevernoob]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

[Hueristic]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

[smooth]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

They put the white paper back after modifying it some more.

[dEBRUYNE]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

I would advise to read the links posted here above and why monero matters in this post: https://bitcointalk.org/index.php?topic=721045.msg8477489#msg8477489 (this thread also provides a FAQ)

Inflation can be found here: https://bitcointalk.org/index.php?topic=702140.msg8106443#msg8106443
As stated in the OP about the amount of coins: [2] Actual number of atomic units is M = 264 - 1. A minimum subsidy may be implemented in the future with <1% inflation to preserve mining incentives. (https://bitcointalk.org/index.php?topic=583449.0). Important IRC channels are in the OP as well.

If you need any more info feel free to ask (via PM is no problem as well). I hope some other members can add some important links.

[David Latapie]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

Regarding infinite minting: this is both yes and no and is detailled in the OP
no, because the "regular emission" is 18.4 millions, so close to Bitcoin
yes, because we may implement a "tail emission", which is not present in Bitcoin. This tail emission would very small but also infinite. The point of this tail emission would be to provide an alternative to Satoshi's decision that "after BTC is fully mined, transaction fees will suffice to encourage continuous mining", something on which we disagree - hence tail emission.

Regarding "facts about the coin", I suggest you start by reading this:

• https://cryptonote.org/whitepaper.pdf
• http://monero.cc/downloads/whitepaper_review.pdf
• http://lab.monero.cc
• https://bitcointalk.org/index.php?topic=721045 and particularly https://bitcointalk.org/index.php?topic=721045.msg8477489#msg8477489
• http://www.reddit.com/r/CryptoCurrency/comments/2nu9rg/darkcoin_anoncoin_shadowcash_monero/cmh5ekr
• And finally to get an idea of the present state, you can read our Monday Monero Missives on the ANN: https://bitcointalk.org/index.php?topic=583449

[SmoothCurves]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

It is mined like BTC. It is also limited to 18M compared to Bitcoin's 21M

[David Latapie]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

No, the general writing style, I recognized my writing style and then realised I forgot to properly fill my profile And, yes, I often mispell "developer", I did not even notice it, I4ll fix this, thanks.

[Hueristic]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

No, the general writing style, I recognized my writing style and then realised I forgot to properly fill my profile And, yes, I often mispell "developer", I did not even notice it, I4ll fix this, thanks.

Ahh, Lol

To an outsider looking in that part of the thread looks like an accusation is unanswered. I don't have write permission there so maybe you want to drop this link as a answer to his request?

https://bitcointalk.org/index.php?topic=583449.msg9752751#msg9752751

From what I've read there as a whole I'd say he is a good supporter of this coin. That article is a great read. Wish I was younger and could soak this stuff up like I used to. Getting old blows.

[shojayxt]

If there was a proper funding framework in place this could be improved significantly.

As we (and fluffypony in particular), stated it, the issue is not funding (not now), but finding good enough developper and them familiarizing themselves with the code. More money won't make things evolve faster, at least for the coin.

Same thing for "code review, cryptography review": code review is being done as we speak, and cryptography review also - we exchange with our academic cryptographer on a litterally daily basis.

I did not know Lighthouse, seems interesting

sr: "stop trading, baby" ;-)

I stand corrected.  I thought funding was an issue as it's been brought up before.  

So you're looking for a good developer and you have a way to compensate them if they are found?

It shouldn't be that hard to find a developer looking for work.  
  

[David Latapie]

you fan of XMR want XRM to be a succes do the same as me and follow twitter, like facebook sign in the forum and show the world you using and support Monero.

^ Good advice

I just created an account and made my first post:
https://forum.monero.cc/20/general-discussion/108/support-monero-and-show-the-world-you-like-this-coin

Edit:
RETWEET: https://twitter.com/GEO_Jan/status/540793471616155649

Retweeted

So you're looking for a good developer and you have a way to compensate them if they are found?

We do.

It shouldn't be that hard to find a developer looking for work.

To find a dev is easy. To find a reliable dev for this work is not. But we keep trying. Hard

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

To an outsider looking in that part of the thread looks like an accusation is unanswered. I don't have write permission there so maybe you want to drop this link as a answer to his request?

https://bitcointalk.org/index.php?topic=583449.msg9752751#msg9752751

From what I've read there as a whole I'd say he is a good supporter of this coin. That article is a great read. Wish I was younger and could soak this stuff up like I used to. Getting old blows.

Andrew is Andytoshi Hel self-taught cryptography so you could also
Regarding the cryptonote part, this is a different topic, unrelated to the list I posted above. What he mentionned is that Cryptonote delete the PDF and added a new, corrected one with the same URL to try to hide the fact, as smooth mentionned. I'll add a comment.

[smooth]

If there was a proper funding framework in place this could be improved significantly.

As we (and fluffypony in particular), stated it, the issue is not funding (not now), but finding good enough developper and them familiarizing themselves with the code. More money won't make things evolve faster, at least for the coin.

Same thing for "code review, cryptography review": code review is being done as we speak, and cryptography review also - we exchange with our academic cryptographer on a litterally daily basis.

I did not know Lighthouse, seems interesting

sr: "stop trading, baby" ;-)

I stand corrected.  I thought funding was an issue as it's been brought up before. 

So you're looking for a good developer and you have a way to compensate them if they are found?

It shouldn't be that hard to find a developer looking for work. 

1. I have no idea why you think it isn't hard to find good developers. Apart from this project I can tell you that they are not easy to find and almost none are looking for work (some are always looking for better work though, but see #2 below).

2. The biggest issue with developers won't be solved by a little bit of funding here or there. People looking for a full time job are not candidates unless we have a whole lot more funding, because we are light years away from having the sort of ongoing budget that would be needed to hire people in that manner. When hiring people looking for project/freelance work, some work out, some don't (and even the ones who do work out require a lot of involvement with the core team) and it is hard to keep continuity because they have other clients and other potential projects come along.

This coin needs to grow, a lot, before it makes sense for the project to be hiring full time people (which would only come with large sponsorship that could only come with growth) or for Monero-related businesses pay people to work on the core technology (as they do for bitcoin).

So build software and services, spread the word, and hopefully something significant can begin to take hold. Otherwise we are just fooling ourselves here. Let's face it, a coin -- no matter how good -- doesn't do anything by itself, it can only be useful for doing other things.

[Hueristic]

...I'll add a comment.

That should work.

...
1. I have no idea why you think it isn't hard to find good developers. Apart from this project I can tell you that they are not easy to find and almost none are looking for work (some are always looking for better work though, but see #2 below)....

I've watched Noble go through 3 or 4 of them trying to do a POS change without changing Chains and all have failed. so I don't think it's that easy to find a good one. And from what I've seen here you guys have a great crew! I truly enjoy reading all of your posts.

[forevernoob]

Regarding infinite minting: this is both yes and no and is detailled in the OP
no, because the "regular emission" is 18.4 millions, so close to Bitcoin
yes, because we may implement a "tail emission", which is not present in Bitcoin. This tail emission would very small but also infinite. The point of this tail emission would be to provide an alternative to Satoshi's decision that "after BTC is fully mined, transaction fees will suffice to encourage continuous mining", something on which we disagree - hence tail emission.

Regarding "facts about the coin", I suggest you start by reading this:

• https://cryptonote.org/whitepaper.pdf
• http://monero.cc/downloads/whitepaper_review.pdf
• http://lab.monero.cc
• https://bitcointalk.org/index.php?topic=721045 and particularly https://bitcointalk.org/index.php?topic=721045.msg8477489#msg8477489
• http://www.reddit.com/r/CryptoCurrency/comments/2nu9rg/darkcoin_anoncoin_shadowcash_monero/cmh5ekr
• And finally to get an idea of the present state, you can read our Monday Monero Missives on the ANN: https://bitcointalk.org/index.php?topic=583449

Interesting reads.
Inflation is a interesting subject. The question is if tail emissions hurt the value of the coin or not.
I don't like inflationary coins. But Monero is obviously not some shitcoin like DOGE.
I mean at least there seems to be some thought put in to the decision to have tail emission.

Care to elaborate why you think tail emission is necessary? Is it the fear of hash power decreasing if the reward for miners drops?