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

[wpalczynski]

I was thinking that in a round about way the low price might be good for the coin in the long run and here is my reasoning:  Since no premine the devs dont hold a lot of Monero, they are working on the project but not with a real economic incentive.  With these low prices they have most likely been accumulating to whatever extent they can and if that's the case they may be inclined to continue working on Monero and perhaps speed up development since they themselves would be financially rewarded once Monero succeeds.

Any thoughts?

Main question: are the dev's paid?

If by "dev" you mean people doing the coding, some have, some haven't.

If by "dev" you mean the core team responsible for leading the project, then definitely not. Not only are we not paid but we have covered about 80% of the costs of the project out of our own pockets. We are all negative for a large amount of time and money. We do it because we believe in the project and want to see it succeed.

Who am I to say that?

The boss. We work for the community.

I am a single XMR miner & supporter.

Thank you for your support

[Hueristic]

I was thinking that in a round about way the low price might be good for the coin in the long run and here is my reasoning:  Since no premine the devs dont hold a lot of Monero, they are working on the project but not with a real economic incentive.  With these low prices they have most likely been accumulating to whatever extent they can and if that's the case they may be inclined to continue working on Monero and perhaps speed up development since they themselves would be financially rewarded once Monero succeeds.

Any thoughts?

I would assume this to be true.

[rkm80]

Can somebody, please, explain me this:

Moneropool hash: 4600kH
Miners: 330
Hash per miner: ~14kH
Top GPU ~ 700H
GPUs per miner ~ 20

As I have never mined any cryptos, is it normal that an average miner owns min 20 top GPUs?
Does a miner with 4 separate rigs count as 1 or 4?

Correct if I'm somewhere wrong.

[pa]

It will be interesting to see whether Bitcoin can adopt CN functionality. It would a win for privacy and freedom, but bad for my XMR investment: http://www.reddit.com/r/Bitcoin/comments/2oh7vq/toward_unlinkable_bitcoin_transactions_andrew/

[wpalczynski]

Where did you get those stats from?

Can somebody, please, explain me this:

Moneropool hash: 4600kH
Miners: 330
Hash per miner: ~14kH
Top GPU ~ 700H
GPUs per miner ~ 20

As I have never mined any cryptos, is it normal that an average miner owns min 20 top GPUs?
Does a miner with 4 separate rigs count as 1 or 4?

Correct if I'm somewhere wrong.

[Este Nuno]

It will be interesting to see whether Bitcoin can adopt CN functionality. It would a win for privacy and freedom, but bad for my XMR investment: http://www.reddit.com/r/Bitcoin/comments/2oh7vq/toward_unlinkable_bitcoin_transactions_andrew/

Interesting how they paid homage to Bytecoin there.

While the respect for the technology is there, after the premine scam I don't think they deserve to have such things named after them.

[rkm80]

Where did you get those stats from?

Can somebody, please, explain me this:

Moneropool hash: 4600kH
Miners: 330
Hash per miner: ~14kH
Top GPU ~ 700H
GPUs per miner ~ 20

As I have never mined any cryptos, is it normal that an average miner owns min 20 top GPUs?
Does a miner with 4 separate rigs count as 1 or 4?

Correct if I'm somewhere wrong.

https://moneropool.com/

[David Latapie]

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.

I've been personally involved in finding dev for Noble turning PoS so I concur.

[nioc]

Can somebody, please, explain me this:

Moneropool hash: 4600kH
Miners: 330
Hash per miner: ~14kH
Top GPU ~ 700H
GPUs per miner ~ 20

As I have never mined any cryptos, is it normal that an average miner owns min 20 top GPUs?
Does a miner with 4 separate rigs count as 1 or 4?

Correct if I'm somewhere wrong.

AFAIK a miner is an address.  Multiple rigs mining to one address equals one miner.

[David Latapie]

Getting old blows.

..What is the alternative?  ...

Staying young would be preferable.

Or making chronological age irrelevant.

Good to see someone recognized.

mr_random recognised it before me, on this very thread

The virtues of inflation

People who say you can't slow down emission because it looks like a scam... well in a few years 99% of all the currency will be emitted, how will that look like to newcomers (a scam?)

To be fair our tail mining is designed to be small too (like bitcoin after a few halvings but before no subsidy), so until the things are more clear from experience or there is stronger research to support an existential need for more radical changes, we are only slightly better off. Still, at least we have recognized some aspect of the potential failure mode and eliminated it.

Something we did not address is the lack of incentive to maintain full nodes, as Nicolas Courtois mentionned it for Bitcoin. For the moment, there is enough good will, but what if tomorrow there was not?

Main question: are the dev's paid?

Your question prompted me to add a new entry in the FAQ: are the devs paid?

What is the best programming language to learn for Monero?

I have a lot of time on my hands and much motivation.

So far, C and C++. C for legacy code (most of the code at the moment) (read smooth below), C++ for refactoring (which will take time). FYI, we are also using Go, but very sparsely (mostly URS, for the moment) and Qt is being used for the GUI wallet. But priority is definitely C and C++.

Yes, I know - throw your tomatoes and boo me for suggesting an exploitation of our carnal pleasures, but there it is.

Fact: sex drives economy (major French IT company free.fr? Started with sex money. Wikipedia? Started with sex money. High-stress platform? Porn sites, etc.) So no problem for me

[smooth]

C for legacy code (most of the code at the moment)

That is a misconception, which unfortunately we helped spread earlier in the project when we didn't really understand the code base.

Not counting header files (and I'm pretty sure the C++ header files are much bigger), there are 11351 lines of C+ and 9958 lines of C.

However, virtually all (exception maybe 1-2k lines at most) of that C are actually copies of external crypto libraries that we don't touch (and at some point will probably remove from the Monero tree and use one or more external crypto libraries directly).

Likewise, the refactoring that is needed would be C++ to C++. There is very little need to refactor C into C++. New core code will be C++.

So to summarize: To work on the core code you need to know C++. There is no C coding and little to no C-to-C++ refactoring, although some understanding of C helps with C++.

[smooth]

Can somebody, please, explain me this:

Moneropool hash: 4600kH
Miners: 330
Hash per miner: ~14kH
Top GPU ~ 700H
GPUs per miner ~ 20

As I have never mined any cryptos, is it normal that an average miner owns min 20 top GPUs?
Does a miner with 4 separate rigs count as 1 or 4?

Correct if I'm somewhere wrong.

AFAIK a miner is an address.  Multiple rigs mining to one address equals one miner.

True, also a mean like that may be misleading. If someone has one very large farm (or a few of these), that would skew the statistics. I would also be interested in the median hash per miner.

[David Latapie]

C for legacy code (most of the code at the moment)

That is a misconception, which unfortunately we helped spread earlier in the project when we didn't really understand the code base.

I corrected my post, thanks.

[smooth]

It will be interesting to see whether Bitcoin can adopt CN functionality. It would a win for privacy and freedom, but bad for my XMR investment: http://www.reddit.com/r/Bitcoin/comments/2oh7vq/toward_unlinkable_bitcoin_transactions_andrew/

Bitcoin itself can not incorporate ring signatures without without major changes that are unlikely to occur. Their title is a bit misleading, but it isn't unusual to write papers about something that "could" be done in bitcoin, ignoring the practical implausibility of actually deploying it.

It could be done in what Blockstream calls a side chain (I prefer to call them Bitcoin-backed altcoins), but, as we discussed a while back, that is only interesting if that particular sidechain/coin becomes widely used.

[Johnny Mnemonic]

Looks like BCX is finally carrying out his timewarp attack. We're all doomed. (jk)

[smooth]

More efficient GPU miner would help..

A more efficient GPU miner would just drive up the difficulty even more, reducing profitability and result in continued dumping to pay power bills.

The only meaningful way to increase price is to increase demand. If you want the price to go up, forget about mining and start building (software, services, awareness, etc.)

[slapper]

It will be interesting to see whether Bitcoin can adopt CN functionality. It would a win for privacy and freedom, but bad for my XMR investment: http://www.reddit.com/r/Bitcoin/comments/2oh7vq/toward_unlinkable_bitcoin_transactions_andrew/

Interesting how they paid homage to Bytecoin there.

While the respect for the technology is there, after the premine scam I don't think they deserve to have such things named after them.

They are scholars and that is how it works in the academic world, always citing sources and citing correct sources. Did you expect them to behave like core punks and subservient retards serving their masters in this coin? (apologies to smooth and tacotime)

In hindsight even the most brainwashed of the cult will find the inherent flaws in Monero in due time. This was not a fair Litecoin community launch of an unfair Tenebrix. All it did was bring despicable characters as faces of this coin which kept serious investors away.

[smooth]

I was thinking that in a round about way the low price might be good for the coin in the long run and here is my reasoning:  Since no premine the devs dont hold a lot of Monero, they are working on the project but not with a real economic incentive.  With these low prices they have most likely been accumulating to whatever extent they can and if that's the case they may be inclined to continue working on Monero and perhaps speed up development since they themselves would be financially rewarded once Monero succeeds.

Any thoughts?

I would assume this to be true.

There is some validity to it, but not just for the core team. Everyone can accumulate at lower prices now, and then have an incentive to build software, services, and awareness.

A little less focus on price and lot more focus on technology and business would serve us well.

[primer-]

Release the GUI/DB/RPCJSON now and not in January or its dead beyond resurrection... 

[smooth]

Release the GUI/DB/RPCJSON now and not in January or its dead beyond resurrection... 

I can't find your pull request.

Oh that's right you don't have one. You contribute nothing to the project other than FUD. (Want to buy lower do you?) Carry on.