rpietila Altcoin Observer

[lebing]

How many moneros is mined so far? How many will it be in the end? Can someone please show me a graph of this?

This is what I am also interested in. When inflation starts tapering off, the price will moon.

[1714802865]

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[1714802865]

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[cAPSLOCK]

How many moneros is mined so far? How many will it be in the end? Can someone please show me a graph of this?

http://monerochain.info/charts

[fluffypony]

How many moneros is mined so far? How many will it be in the end? Can someone please show me a graph of this?

As pointed out, you can see the current distribution on the MoneroChain graphs. Here's the expected graph (which it's roughly conforming to, as expected) -

After 2 years:



After 8 years:

[smooth]

How many moneros is mined so far? How many will it be in the end? Can someone please show me a graph of this?

This is what I am also interested in. When inflation starts tapering off, the price will moon.

Inflation tapers off quite rapidly due to the natural properties of (slightly) sub-linear growth. In three months the supply outstanding will be about double what it is now which means inflation will be about half.

[HardwarePal]

How many moneros is mined so far? How many will it be in the end? Can someone please show me a graph of this?

Current coin supply :
http://monerochain.info/charts/coins

Specifications

PoW algorithm: CryptoNight [1]
Max supply: ~18.4 million [2]
Block reward: Smoothly varying [3]
Block time: 60 seconds
Difficulty: Retargets at every block

[1] CPU + GPU mining (about 1:1 performance for now). Memory-bound by design using AES encryption and several SHA-3 candidates.
[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.
[3] Uses a recurrence relation. Block reward = (M - A) * 2-20 * 10-12, where A = current circulation. Roughly 86% mined in 4 years (see graph).

[aminorex]

Block reward was 17.6 initially (97 days ago) and is now 15.4.  It takes 512 days to halve the emission.  Daily reward will be about 2.5x the BTC daily reward when BTC next halves, and will be less than the BTC daily block reward at the time of the next BTC halving after that.

Fun trivia.

Suppose marginal supply sets price.  XMR > BTC by 2019?  I could see it.

[dreamspark]

Block reward was 17.6 initially (97 days ago) and is now 15.4.  It takes 512 days to halve the emission.  Daily reward will be about 2.5x the BTC daily reward when BTC next halves, and will be less than the BTC daily block reward at the time of the next BTC halving after that.

Fun trivia.

Suppose marginal supply sets price.  XMR > BTC by 2019?  I could see it.

yep, people will call it speculation now but considering todays emission model, XMR is set to surpass BTC in value around the time 80% is mined out, as BTC value will grow much larger in the future (we hope) so will XMR.

Indeed but that depends on what you value it against. In $ terms in a btc rally XMR is sure to rise in $ terms as well. However on the BTC pair it is less likely to rise substantially (at least initially) as people would rather hold BTC in a BTC rally but also because miners have costs to pay in $ as well, that means that if they are mining for profit they can do so at at a higher cost per coin. In crypto terms the time scales that we're talking about though are so large that I can see any extremity of bearish or bullish scenarios being reached.

[synechist]

XC also has a premine.


It's "anonymity" is also coinjoin based and the mixers are the user's wallets, so if a malicious entity of agency decided to see through XC's anonymity, they would simply have to create a large amount of wallets for themselves, so that most coins would be redirected to their wallets, and theyll see transactions as clear as day.... along with the fact that in the beginning its "anonymity" was unraveled by Chaeplin (Read XC Unmoderated Thread, where XC's coin mixing wasnt working at all)

(a) Use end-to-end encryption to support transaction broadcasting, secure messaging, and true P2P anonymous transactions.
(b) Upon this is built an optional mixer that testing has shown to eliminate any record in the blockchain of a link between sender and receiver.
(c) This mixer is a revolutionary “multi-path” implementation that employs multi-sig to route fragments of transactions down separate paths through the network, compounding anonymity while adding redundancy and security.
(d) Communication between nodes is optionally via TOR, which obfuscates users’ IP addresses.

Emphasis mine. Legit new tech or same old CoinJoin?

Mixers function is similar to DRK masternodes.

To chip in here, XC doesn't employ a coinjoin strategy.

XC also doesn't have anything akin to masternodes.

XC is completely decentralised, and due to trustless mixing there is no need to have a hefty pile of coins to start a masternode. As Gregory Maxwell stated, this is a "security chokepoint" and we have no interest in such a strategy.

It is also incorrect that Chaeplin unravelled XC's anonymity. In fact, he partially failed to understand what was being tested, and was unable to show any link on the blockchain between sender and receiver. Here's the post where all this happened.



Now that this has been cleared up, here's how XC works:

1) user initiates a transaction

2) wallet requests to send fragments of the transaction to other nodes via end-to-end-encrypted tunnels. (The latter is the Xnode protocol, the former is known as multipath.)

3) multisig between each participating node is set up and passed around for signing

4) multisig enables trust-less transactions as any changes to the signed transaction (ie: a node trying to steal coins) makes the multi-signature invalid

    - it's not coinjoin, because it’s not centralised or semi-centralised. There's nothing akin to masternodes in XC either.

    - it's not a ring signature because it's multidirectional

5) if a bad node fails to forward a transaction, then several other paths exist and the tx is sent along one of them instead

6) fragments sent to nodes

7) nodes mix and forward fragments from different addresses to the ones they receive fragments on

recipient receives transaction



This is a sketch of the world's first trustless mixer.

In other words, henceforth you can pay someone through a third party without having to trust the third party.

I'm sure you'll appreciate the magnitude of this development.

[Profetu]

Personally I'm very interested on someone's technical analysis of the anon tech in XC. I mean Darkcoin is constantly criticised  due to it's technical failings over the past few months. But the lack of criticism of XC leads me to believe that it's might fall in to one of these two categories:

1) That the anon tech is actually solid.

or

2) That the distribution and such was so bad that people don't even think it's worth analysing the tech and thus we don't actually know whether it works well or not.

I have tried looking at the source code (https://github.com/atcsecure/X11COIN.git) and could not see anything related to anon tech. There is also only a single commit, so maybe this is the wrong place. Do you know where I can find the current code?

If there is no code available, I propose:

3) No code available, so nobody with a mind will care about the coin and no analysis will be done.

To explain: Binary analysis is bothersome work to perform. I do not see a way of profiting by doing this work, so it is unlikely to be done. Without source, it is impossible to trust the coin or developer.

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

I would really like to see some opinions on the code as I am not a coder myself.

http://pastebin.com/G4mH4AxR

[binaryFate]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

[onemorebtc]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

+1
even if just parts are closedsource they are not worth it

[HardwarePal]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

+1 on that

Closed source can be everything and nothing.

When and if they open source I think maybe someone can peer review it and then we can discuss it further.

[synechist]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

+1 on that

Closed source can be everything and nothing.

When and if they open source I think maybe someone can peer review it and then we can discuss it further.

XC makes their code open source on a delayed timeline.

For now, you can all review the mixer we released yesterday.

Traders and investors can consider whether it's worth getting in early while the breakthrough tech is yet to be made public.

When we launch Rev 3 there will be a big public bounty to provably break XC's anonymity.

[HardwarePal]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

+1 on that

Closed source can be everything and nothing.

When and if they open source I think maybe someone can peer review it and then we can discuss it further.

XC makes their code open source on a delayed timeline.

For now, you can all review the mixer we released yesterday.

Traders and investors can consider whether it's worth getting in early while the breakthrough tech is yet to be made public.

When we launch Rev 3 there will be a big public bounty to provably break XC's anonymity.

I have been in XC from the start , but sold on the bubble.

I personally declare it vaporware like I have done with DRK until a peer review on the code has been done and it has been opensourced.

[dida]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

Yes you will really like to make XC copycat coin for your self would you?  

....it is not open sourced yet..it will be

[Joshuar]

How many moneros is mined so far? How many will it be in the end? Can someone please show me a graph of this?

It's moneroj, not moneros  

While in English, the plural is often formed by adding (s) to the singular. In Esperanto, to form the plural of nouns and adjectives we add (-j)

http://mylanguages.org/esperanto_plural.php


 

Actually, moneros is still the plural. Its a esperanto word, but used in english sentences/context, so those esperanto grammar rules dont apply here, since were typing english.

[Profetu]

I understand where you guys come from but not sure what you expect of a coin that is work in progress. The code will eventually be all open source, as of now the code of the previous implementation is open source. So we could pretend the coin is at REV1 at there is the mixer open source. Any thoughts on it?

http://pastebin.com/G4mH4AxR

"Closed source can be everything and nothing." - you are free to make a transaction and find a link between sender and receiver in the blockchain. I think a bounty is still in effect for this.

[synechist]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

+1 on that

Closed source can be everything and nothing.

When and if they open source I think maybe someone can peer review it and then we can discuss it further.

XC makes their code open source on a delayed timeline.

For now, you can all review the mixer we released yesterday.

Traders and investors can consider whether it's worth getting in early while the breakthrough tech is yet to be made public.

When we launch Rev 3 there will be a big public bounty to provably break XC's anonymity.

I have been in XC from the start , but sold on the bubble.

I personally declare it vaporware like I have done with DRK until a peer review on the code has been done and it has been opensourced.

Trustless mixing is currently working.

The latest XC app is Rev 2.45. You can download it here and test out a "privacy mode" transaction yourself. Track the results in a block explorer.

This is hardly vapourware.

For the record, external testing, and public testing for a big bounty are happening around Rev 3.

[onemorebtc]

I understand where you guys come from but not sure what you expect of a coin that is work in progress. The code will eventually be all open source, as of now the code of the previous implementation is open source. So we could pretend the coin is at REV1 at there is the mixer open source. Any thoughts on it?

http://pastebin.com/G4mH4AxR

"Closed source can be everything and nothing." - you are free to make a transaction and find a link between sender and receiver in the blockchain. I think a bounty is still in effect for this.

just finish development and as soon as it is open-source everything is ok...
just take it as an opportunity to buy more before everybody knows your secret stuff (lol)

[synechist]

[...]

Hi, here is the REV 1 trusted mixer implementation source code. The coin now has multi-path trustless mixing (still not open source though) and every wallet is a potential node.

Risto, I propose that you make a rule to forbid discussions about closed-source alts in this thread. These are really not worth our time.

+1 on that

Closed source can be everything and nothing.

When and if they open source I think maybe someone can peer review it and then we can discuss it further.

XC makes their code open source on a delayed timeline.

For now, you can all review the mixer we released yesterday.

Traders and investors can consider whether it's worth getting in early while the breakthrough tech is yet to be made public.

When we launch Rev 3 there will be a big public bounty to provably break XC's anonymity.

I have been in XC from the start , but sold on the bubble.

I personally declare it vaporware like I have done with DRK until a peer review on the code has been done and it has been opensourced.

Trustless mixing is currently working.

The latest XC app is Rev 2.45. You can download it here and test out a "privacy mode" transaction yourself. Track the results in a block explorer.

This is hardly vapourware.

For the record, external testing, and public testing for a big bounty are happening around Rev 3.

And, also for the record, here is our statement on open source:

XC is committed to the open source model. Open source code is vital for the health and advancement of cryptographic technologies, and it is a privilege to share our technical breakthroughs with a community such as this. We believe that XC's code embodies several world-firsts enabling anonymity that is scalable, mobile-friendly, POS-integrated, and is ultimately a platform upon which a broad range of Blockchain 2.0 technologies will be built. However we have been under severe attack from competing projects. Furthermore people’s faith in altcoins is significantly hindered by clones. Therefore we believe that the ethical way to engage with the community is to make code available on a delayed timeline. This way, the community will still benefit from our work, while we'd reduce the incentive for developers to flood the marketplace with clones that lack a long term future and reduce the trustworthiness of the altcoin phenomenon. XC represents several market-leading innovations, and we are honoured to make these available to the community in the near future.