Monero Economy

[thomastaylor]

It's a pity that I haven't seen that coin before its launch..
Do you think it is still possible to mine many Moneros as a single miner?

[smooth]

It's a pity that I haven't seen that coin before its launch..
Do you think it is still possible to mine many Moneros as a single miner?

That depends what you mean by many. If this coin is very successful and goes up greatly in value, then whatever you can mine now will be worth a lot, and will seem like a lot compared to what people are mining in a few years. Similar to mining bitcoin in say 2011.

Only about 6% of the target supply has been mined. On the assumption that the coin is successful it is not even remotely too late (and if not then it doesn't matter). This is not a premined or instamined coin.

[HornyMiner]

It's a pity that I haven't seen that coin before its launch..
Do you think it is still possible to mine many Moneros as a single miner?

Yeah.
Imo monero will have an amazing future. You can invest all your capital in it with no doubt

[LAstar]

It's a pity that I haven't seen that coin before its launch..
Do you think it is still possible to mine many Moneros as a single miner?

Yeah.
Imo monero will have an amazing future. You can invest all your capital in it with no doubt

+1 to you sir. Monero is so stable, thats why horses always wanna stay with it. =D

[jokudaman]

Monero economy and speculation thread

Announcement thread link - https://bitcointalk.org/index.php?topic=583449.0

https://dl.dropboxusercontent.com/u/2050232/MRO_trading.png

Graph by dnaleor

Monero seems to be very good and profitable altcoin. I think we should invest our capital in it.

[MoonVoyajer]

Monero economy and speculation thread

Announcement thread link - https://bitcointalk.org/index.php?topic=583449.0

https://dl.dropboxusercontent.com/u/2050232/MRO_trading.png

Graph by dnaleor

Monero seems to be very good and profitable altcoin. I think we should invest our capital in it.

Dude you should be more carefull. The graphics was added here for a mounth ago. But i must to admit that monero is still quite good.

[HornyMiner]

Dude you should be more carefull. The graphics was added here for a mounth ago. But i must to admit that monero is still quite good.

No1 cares btw. And all altcoins have a tend to repeat their curves sometimes. So i think this guy was carefull enough.

[3elks]

After checking out some threads it seems like monero is the most possible to be just a scam. Ill investigate more...

[tacotime]

After checking out some threads it seems like monero is the most possible to be just a scam. Ill investigate more...

Indeed.

[cAPSLOCK]

After checking out some threads it seems like monero is the most possible to be just a scam. Ill investigate more...

Indeed.

LOL.  'nuff said.

[Mr47]

Dude you should be more carefull. The graphics was added here for a mounth ago. But i must to admit that monero is still quite good.

No1 cares btw. And all altcoins have a tend to repeat their curves sometimes. So i think this guy was carefull enough.

I saw a topic on reddit in which one guy analyzed BTC curve. He notes all takeoff point, stability tends and said that the cycle is repeated once a year with a difference of a few months. So maybe you are right.

[JazzManLoveBTC]

After checking out some threads it seems like monero is the most possible to be just a scam. Ill investigate more...

Indeed.

I don't get what this profile info speaking about. Can you explain pls?

[uvt9]

After checking out some threads it seems like monero is the most possible to be just a scam. Ill investigate more...

Indeed.

I don't get what this profile info speaking about. Can you explain pls?

That profile is Gregory Maxwell, a Bitcoin Core developer.

[Zer0Sum]

Right now there is no "Monero economy"... it's a CryptoNote assembly line.

And the CryptoNote economy consists of...

(1) Rolling out a new CN coin every few days (there are now 7... soon 50 or whatever).

(2) The same 50-100 people mine the shit out of the new coin with optimized tools.

(3) List on exchange... and dump to "sophisticated" bagholders.

(4) Each new coin is probably worth as much as $500,000 to this group.

If you take Monero as an example...
The average price for first 7 days on Poloniex was about 530...
And about 1,000,000 coins changed hands in the first week.

To oversimplify...
So the Monero group mined them at about 100... sold around 500...
And all the bagholders are happy with the "next Bitcoin" at 200 and sinking...
Wow... it's really smart to be 50% under water when you own the "next Bitcoin".

The group then moves on to the next CN Ducks, Mount, whatever... rinse and repeat.

Who needs a complicated GUI wallet with database, RPC API, etc...
When there's another 50 coins in the pipeline to mine and unload on bagholders.
 

[JazzManLoveBTC]

After checking out some threads it seems like monero is the most possible to be just a scam. Ill investigate more...

Indeed.

I don't get what this profile info speaking about. Can you explain pls?

That profile is Gregory Maxwell, a Bitcoin Core developer.

Oh shi~

So it means that monero isn't a bunch of scams? Was the phrase "indeed" a sarcastic?

[tacotime]

To oversimplify...
So the Monero group mined them at about 100... sold around 500...
And all the bagholders are happy with the "next Bitcoin" at 200 and sinking...
Wow... it's really smart to be 50% under water when you own the "next Bitcoin".

We still have all our monero.

The whales sold -- as whales do.

[LAstar]

Right now there is no "Monero economy"... it's a CryptoNote assembly line.

And the CryptoNote economy consists of...

Interesting opinion. But is it true? I thought that there are the way more people who "mine the shit out of the new coin with optimized tools." More like 300-500 but not are 50-100

[MidnightRon]

Right now there is no "Monero economy"... it's a CryptoNote assembly line.

And the CryptoNote economy consists of...

Interesting opinion. But is it true? I thought that there are the way more people who "mine the shit out of the new coin with optimized tools." More like 300-500 but not are 50-100

Imo the number of miners is smaller that you believe in.

[tacotime]

I will be formalizing the proposal for the fixing of blockreward at year end of year 10 of Monero emission; a couple of charts are below:


A is the current projection.
B is the fixed subsidy projection.

As you can see from the images, there is only slight inflation at this time.
Final block subsidy: 0.117061151915
Inflation starting at year 11: 0.335774683775%
Inflation starting at year 20: 0.325925311615%

Code:

import math

M = math.pow(2, 64) - 1
total_supply = 0
YEARS = 20

f = open('monero_calculator.txt', 'w')
f.write('Year\tCoin supply\tInflation\n')

# Unlimited subsidy decreases (ByteCoin code)
for i in range (1,YEARS+1):
    beginning_supply = total_supply

    for j in range (1,525601): # 525600 blocks/year
        block_subsidy = (M - total_supply) / math.pow(2, 20) # Atomic
        total_supply += block_subsidy

    inflation = 0
    if beginning_supply == 0:
        pass # Infinite for year 1
    else:
        inflation = total_supply / beginning_supply

    total_supply_in_monero = total_supply / math.pow(10, 12) # Moneros
    inflation_in_percent = (inflation * 100) - 100
    f.write(str(i) + '\t' + str(total_supply_in_monero) + '\t' + str(inflation_in_percent) + '\n')

f.write('\n')

total_supply = 0
last_block_subsidy = 0 # Usde to get the block_subsidy for year end of year 10

# Subsidy fixing after 10 years
for i in range (1,YEARS+1):
    beginning_supply = total_supply

    for j in range (1,525601): # 525600 blocks/year
        if (i <= 10):
            block_subsidy = (M - total_supply) / math.pow(2, 20) # Atomic
            last_block_subsidy = block_subsidy
        else:
            block_subsidy = last_block_subsidy
        total_supply += block_subsidy

    inflation = 0
    if beginning_supply == 0:
        pass # Infinite for year 1
    else:
        inflation = total_supply / beginning_supply

    total_supply_in_monero = total_supply / math.pow(10, 12) # Moneros
    inflation_in_percent = (inflation * 100) - 100
    f.write(str(i) + '\t' + str(total_supply_in_monero) + '\t' + str(inflation_in_percent) + '\n')

f.write('\n')
f.write("Final block subsidy at year 10 end: " + str(last_block_subsidy / math.pow(10, 12)))
f.close()

[dnaleor]

system B: permanent but low inflation. I could agree on this.