aminorex
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Merit: 1029
Sine secretum non libertas
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July 08, 2014, 04:40:41 AM |
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Any number of events may serve as a catalyst to drive people into a privacy-protected currency. I have no convictions as to which will occur in what order, but I do think that the number of them is large so several will occur in time, and motivated investors will be highly motivated when their personal trigger gets pulled. XMR > LTC seems like a no-brainer. (Hopefully that will involve XMR appreciation as well as LTC depreciation.)
I rather hope that no influx of neophytes occurs before the db is out, so that 32 bit works, and an easily used gui with qr code ex/im/xn support is available.
I will be flying discount fares, drinking immature liquor, foregoing car service, deferring donations, as long as XMR is this cheap, accumulating.
Exponentially declining emission, people. Get them while you can.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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Neo.op
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 05:11:54 AM |
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IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
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LYR | ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓█ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓███ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓█████ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓████▓███ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓████▓▓▓▓████ ▓▓▓▓▓▓▓▓▓▓▄█████▓▓▓▓▓▓▓▓█████▄ ▓▓▓▓▓▓▓▓▓▓▓▓████▓▓▓▓▓▓▓▓████ ▓▓▓▓▓▓▓▓▓▓▓▄▄▓████▓▓▓▓████ ▓▓▓▓▓▓▓▓▓▓███▄▓▓████▓███ ▓▓▓▓▓▓▓▓▓██████▄▓▓█████ ▓▓▓▓▓▓▓▓█████████▄▓███ ▓▓▓▓▓▓▓██████▀▓███▄▓█ ▓▓▓▓▓▓██████▓▓▓█████ ▓▓▓▓▓██████▓▓▓▓█████ ▓▓▓▓██████▄▄▄▄▄██████ ▓▓▓██████████████████ ▓▓███████████████████ ▓██████▓▓▓▓▓▓▓▓▓▓█████ ██████▓▓▓▓▓▓▓▓▓▓▓█████ ██████▓▓▓▓▓▓▓▓▓▓▓▓█████ | LYRA Loyalty Rewards on Blockchain
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smoothie
Legendary
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 06:02:16 AM |
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IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market. It has a market base but it isn't within the main stream. It is called the Black market.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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AlexGR
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Activity: 1708
Merit: 1049
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 06:41:49 AM |
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IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market. Billions of USD in transactions are conducted every day in such a non-traceable manner: Cash.
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Trillium
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 06:57:01 AM |
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Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already.
(I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.)
As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.
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BTC:1AaaAAAAaAAE2L1PXM1x9VDNqvcrfa9He6
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drawingthesun
Legendary
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Activity: 1176
Merit: 1015
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 07:53:31 AM |
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Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already.
(I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.)
As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.
I thought that CPU:GPU was already 20 times... The only good news about botnets is that they will cause a depression in price whilst the inflation is in it's peak. Thankfully the inflation drops everyday.
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digicoin
Legendary
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Activity: 1106
Merit: 1000
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 07:56:29 AM |
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Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already.
(I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.)
As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.
High diff caused by cloud miners, not botnet because low end PC is too slow for XMR and the monitored network connections shows that IPs are not diversified enough. Some guys paid up to USD 100k/month to mine XMR
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Neo.op
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 07:56:59 AM |
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IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market. It has a market base but it isn't within the main stream. It is called the Black market. Problem is there arent many things on the web (even tor has a vulnerability in their exit nodes if I remember correctly) which aren't traceable. Point is privacy is like the new "ASIC resistant" wave and then the "GPU resistant" wave, there are no merits to it until it has been vetted by the crypto community. There was a time even bitcoin was supposed to be completely untraceable.
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LYR | ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓█ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓███ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓█████ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓████▓███ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓████▓▓▓▓████ ▓▓▓▓▓▓▓▓▓▓▄█████▓▓▓▓▓▓▓▓█████▄ ▓▓▓▓▓▓▓▓▓▓▓▓████▓▓▓▓▓▓▓▓████ ▓▓▓▓▓▓▓▓▓▓▓▄▄▓████▓▓▓▓████ ▓▓▓▓▓▓▓▓▓▓███▄▓▓████▓███ ▓▓▓▓▓▓▓▓▓██████▄▓▓█████ ▓▓▓▓▓▓▓▓█████████▄▓███ ▓▓▓▓▓▓▓██████▀▓███▄▓█ ▓▓▓▓▓▓██████▓▓▓█████ ▓▓▓▓▓██████▓▓▓▓█████ ▓▓▓▓██████▄▄▄▄▄██████ ▓▓▓██████████████████ ▓▓███████████████████ ▓██████▓▓▓▓▓▓▓▓▓▓█████ ██████▓▓▓▓▓▓▓▓▓▓▓█████ ██████▓▓▓▓▓▓▓▓▓▓▓▓█████ | LYRA Loyalty Rewards on Blockchain
══════════════════════[ Main Features ]══════════════════════ ✓Customizable tokens ███✓NFT███ ✓DeFi███ ✓DEX███ ✓Revenue share | | | |
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drawingthesun
Legendary
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Activity: 1176
Merit: 1015
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 07:57:09 AM |
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IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market. It has a market base but it isn't within the main stream. It is called the Black market. smoothie, please note that for the past four years and even today many people are saying that Bitcoin will likely never be accepted as a legitimate way to pay for things in the mainstream market. Bitcoin has been proving these people wrong for a long time, and most of the media still reports Bitcoin as anonymous to the general public. So in the public eye and eye of the average Government official, a decentralized anonymous uncontrollable currency with no ability to stop accounts from moving money is now gaining mainstream adoption, that thing is Bitcoin. Bitcoin is paving the road for currencies like Monero. Everything you said could have been said about Bitcoin even as late as last year.
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drawingthesun
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 07:59:05 AM |
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IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
Interesting. The Monero team already have academics verifying the white paper and will soon move onto the code. Also many Bitcoin core developers have scrutinised Monero with no obvious flaw in the ring signature concept.
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digicoin
Legendary
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Merit: 1000
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July 08, 2014, 08:03:17 AM |
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I thought that CPU:GPU was already 20 times...
The only good news about botnets is that they will cause a depression in price whilst the inflation is in it's peak. Thankfully the inflation drops everyday.
I see that too. GPU is getting more and more efficient to CPU. As for inflation, I believe people will see XMR's reward small enough in 6-8 months. I start mining XMR when its reward is 17.46 (April) but now it is about 15.7. When the reward drops to about 10 - 12 XMR/block, the total supply per day will be significantly lower than today
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superresistant
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July 08, 2014, 08:05:06 AM |
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Monero: CPU coins are a risk, because eventually they are discovered by botnet operators, and as they begin to take the lions share of mined coins, the network can suffer as a whole and prices can crash. This can also stifle the adoption of the coin. It's happened to countless "CPU" coins already. (I've considered Monero a CPU coin, because of the 1:1 CPU:GPU performance ratio, and there are much more CPU in the world waiting to be exploited than GPU, and, exploiting CPU is easier, because they dont have the complexities of different card configurations as is the case for GPU.) As the difficulty has risen 300% or more in the last 30 days, it is possible this is already happening. Of course, it is impossible to prove. But in any case I will be steering clear of this one in terms of both mining and investing/trading.
I thought that CPU:GPU was already 20 times... The only good news about botnets is that they will cause a depression in price whilst the inflation is in it's peak. Thankfully the inflation drops everyday. If botnets were completely free, bot-owners would not be so careful about choosing the right crypto to mine and they wouldn't have to dump to pay some expenses. There are no rules, no authority so botnet is one way of mining. Some miners have very cheap of free electricity. Well, lucky them. It is very profitable right now thanks to the emission curve. It will not last. Miners will become professionals, GPU-mining-software will surpass 32-bits-CPU-botnet-software and the price will be less affected by dumping.
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aminorex
Legendary
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Activity: 1596
Merit: 1029
Sine secretum non libertas
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 08:33:14 AM |
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Very few people want their financials published. With a transparent block chain fungibility is a big problem, and you open yourself up to extortion.
I agree that most privacy claims are bogus. XMR, distinctively, has the capability to make strong privacy easy to use. That will take time, but not much.
Tthat is why I own so much, and more daily.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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Okurkabinladin
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 08:59:06 AM |
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I believe we are near rock bottom. It was either reached yersteday at sub 2 dollar price or there is going to be one last leg down in couple of days.
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dreamspark
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 09:00:50 AM |
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Any number of events may serve as a catalyst to drive people into a privacy-protected currency. I have no convictions as to which will occur in what order, but I do think that the number of them is large so several will occur in time, and motivated investors will be highly motivated when their personal trigger gets pulled. XMR > LTC seems like a no-brainer. (Hopefully that will involve XMR appreciation as well as LTC depreciation.)
I rather hope that no influx of neophytes occurs before the db is out, so that 32 bit works, and an easily used gui with qr code ex/im/xn support is available.
I will be flying discount fares, drinking immature liquor, foregoing car service, deferring donations, as long as XMR is this cheap, accumulating.
Exponentially declining emission, people. Get them while you can.
Its posts like these that make me sure I'm doing the correct thing by continuing to accumulate, genuine fundamental reasons why a coin is a good one to have. Instead of the normal Marketcap comparisons which justify a rise in price as inevitable just because the current cap is lower than competitors or "It hasn't been pumped yet" conversations as well. The whole reasoning behind the emission curve being what it is was to provide everyone with the chance they are getting now, to get in at a decent price that is relatively stable before the reward decreases and the HR/Difficulty increases as well. People always moan about instamine/ninjamine and then when they are presented with a high inflationary coin that tackles those points in the early days of its inception everyone is too afraid to accumulate, you cant win. Well that is unless you understand this and are one of the smarter people buying them up. Increasing network and decreasing block reward, the writing is one the wall.
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nakaone
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 11:04:10 AM |
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IMO, the whole "privacy" coin is premature. Its like one of the "Mac doesn't have virus" or "this a new algo which is GPU resistant" type of thing. Once the coin goes mainstream and toe to toe with bitcoin; it will be scrutinised in greater detail. For the most part, many of them will be found to be short on their "privacy" promises.
Anything that can't be traced will likely never be accepted as a legitimate way to pay for things in the main stream market. It has a market base but it isn't within the main stream. It is called the Black market. this is quite a valueable post - I think what all the guys fearing the actual competition (drk, xc, vrc) need to understand is that this topic is extremely sensitive. besides distribution the competition is oftentimes half-baked, or even closed source regarding anonymisation (!) guys seriously, who the heck will trust something like that with his most sensitive issue, his privacy?
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Queeq
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 12:06:01 PM |
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this is quite a valueable post - I think what all the guys fearing the actual competition (drk, xc, vrc) need to understand is that this topic is extremely sensitive. besides distribution the competition is oftentimes half-baked, or even closed source regarding anonymisation (!)
guys seriously, who the heck will trust something like that with his most sensitive issue, his privacy?
Hm, I thought it's common knowledge that the majority of "Joes" don't care about their privacy.
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nakaone
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 12:40:41 PM |
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this is quite a valueable post - I think what all the guys fearing the actual competition (drk, xc, vrc) need to understand is that this topic is extremely sensitive. besides distribution the competition is oftentimes half-baked, or even closed source regarding anonymisation (!)
guys seriously, who the heck will trust something like that with his most sensitive issue, his privacy?
Hm, I thought it's common knowledge that the majority of "Joes" don't care about their privacy. the expected future users of this particular field will - it think this is almost certain. look who, besides speculators, is investing in bitcoin - mostly libertarians. I think we can almost safely assume that libertarians mostly have a great interest in privacy - an educated guess might also be that bitcoin will not offer privacy in the foreseeable future - probably never. it is by definition a transparent ledger. the gap for privacy will be closed by a ledger which offers the most reliable privacy
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drawingthesun
Legendary
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Activity: 1176
Merit: 1015
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 08, 2014, 12:46:13 PM |
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this is quite a valueable post - I think what all the guys fearing the actual competition (drk, xc, vrc) need to understand is that this topic is extremely sensitive. besides distribution the competition is oftentimes half-baked, or even closed source regarding anonymisation (!)
guys seriously, who the heck will trust something like that with his most sensitive issue, his privacy?
Hm, I thought it's common knowledge that the majority of "Joes" don't care about their privacy. I would imagine the set of people into bitcoin would overlap quite a bit with the set of people that care about privacy. Also remember that privacy becomes more important when it concerns your monetary movements. No one would gladly make their bank account open for the neighbours to check you incomings and outgoings. Also business; I posted this on the nxtforum a while ago before I found the answer (Monero): We don't have any kind of political pressure or large scale adaption by general public (like for example the Internet itself) that we can stop govts declaring the whole thing illegitimate and criminal. We should avoid the "marketing" that emphasize "criminals are safe" and "not traceable by NSA" even though I personally do not have any problem with the idea.
Ok ok fair point. But Nxt and Bitcoin are far far worse than cash, a bank account, VISA and paypal. If I were to do all my business in CryptoCurrency, my friends and enemies would know how much my bills are, how much I paid for that investment house, how much cash flow I have, where I go to eat out, what time I bought my morning coffee. For business this is a disaster, I know several business men and even talked with the son of a billionaire, the consensus is that CryptoCurrency is far too transparent and it's suicide to use it. A business will not operate an account that it's competitors can watch in real time. It's less about the NSA and more about the world. The world can see everything you do and I know it cannot take off until that is fixed. Call it privacy instead of anonymity. At the moment privacy in CryptoCurrencies is a complete and utter joke. https://nxtforum.org/general-discussion/(poll-by-post)-does-nxt-need-anonymity/120/
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HardwarePal
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July 08, 2014, 01:33:01 PM |
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I remember someone saying something that is worthwhile to note :
What if you paid your dentist in bitcoin the first time you had an appointment , the next time you go he would know your balance and charge accordingly
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