rpietila Altcoin Observer

[smooth]

If you look at the top 10/100/1000 addresses

I've never believed these "top N" addresses things to be worth anything especially for coins with known questionable mining that are going to face scrutiny for it.. The first thing a scammer would do in that situation to try to get away with the instamine (after claiming it to be an accident) is move the coins around to a bunch of addresses and claim they've been redistributed so the instamine doesn't matter any more. As long as addresses are free these lists mean nothing.

[jwinterm]

If you look at the top 10/100/1000 addresses

I've never believed these "top N" addresses things to be worth anything especially for coins with known questionable mining that are going to face scrutiny for it.. The first thing a scammer would do in that situation to try to get away with the instamine (after claiming it to be an accident) is move the coins around to a bunch of addresses and claim they've been redistributed so the instamine doesn't matter any more. As long as addresses are free these lists mean nothing.

That's a fair point, but it doesn't change the fact the over 70% of namecoins sit in 100 addresses, while that number is about 55% for vertcoin, 53% for litecoin, and less than 20% for bitcoin (the most widely distributed coin according to these metrics).

[smooth]

If you look at the top 10/100/1000 addresses

I've never believed these "top N" addresses things to be worth anything especially for coins with known questionable mining that are going to face scrutiny for it.. The first thing a scammer would do in that situation to try to get away with the instamine (after claiming it to be an accident) is move the coins around to a bunch of addresses and claim they've been redistributed so the instamine doesn't matter any more. As long as addresses are free these lists mean nothing.

That's a fair point, but it doesn't change the fact the over 70% of namecoins sit in 100 addresses, while that number is about 55% for vertcoin, 53% for litecoin, and about less than 20% for bitcoin (the most widely distributed coin according to these metrics).

I still don't believe these lists or calculations of concentration by address (as opposed to owner) mean anything at all.

One big factor is how much of  the coin is at exchanges (i.e. many owners, few addresses). Bitcoin has the best developed infrastructure for thin wallets, mobile wallets, hardware wallets, paper wallets, cold storage, etc. and is also somewhat less dominated by speculative activity (virtually 100% of activity for most alts) so it stands to reason that less of it would be held at exchanges.

[jwinterm]

I still don't believe these lists or calculations of concentration by address (as opposed to owner) mean anything at all.

One big factor is how much of  the coin is at exchanges (i.e. many owners, few addresses). Bitcoin has the best developed infrastructure for thin wallets, mobile wallets, hardware wallets, paper wallets, cold storage, etc. and is also somewhat less dominated by speculative activity (virtually 100% of activity for most alts) so it stands to reason that less of it would be held at exchanges.

What would you suggest as a better metric? Obviously this analysis is not pertinent to cryptonote coins. Transactions per day? Volume on exchanges per day?

[Lohoris]

I will continue soon, this is messy to explain...

It is messy only if you go into details, but the core is quite simple: if you buy you also push the price higher, if you sell you also push the price lower.

[TheKoziTwo]

I already posted this in the monero topic, but I think it's worth posting here as well. I have parsed the ANN topic for monero, boolberry, bytecoin, ducknote and darkcoin. Figured it would be interesting to see these results.

In this monero topic alone, a total of 1420 unique users has participated.

Below are users spread across the different user ranks:

Boolberry (198 pages)

Rank	Users
Staff	0	0.00%
Donator	0	0.00%
Legendary	5	1.09%
Hero_Member	19	4.14%
Sr.Member	83	18.08%
Full_Member	150	32.68%
Member	82	17.86%
Jr.Member	52	11.33%
Newbie	68	14.81%
Total users:	459

Bytecoin (195 pages)

Rank	Users
Staff	1	0.22%
Donator	0	0.00%
Legendary	4	0.87%
Hero_Member	19	4.17%
Sr.Member	54	11.84%
Full_Member	113	24.78%
Member	101	22.15%
Jr.Member	74	16.23%
Newbie	90	19.74%
Total users:	456

duckNote (78 pages)

Rank	Users
Staff	0	0.00%
Donator	0	0.00%
Legendary	2	0.72%
Hero_Member	5	1.81%
Sr.Member	40	14.49%
Full_Member	78	28.26%
Member	62	22.46%
Jr.Member	42	15.22%
Newbie	47	17.03%
Total users:	276

Monero (700 pages)

Rank	Users
Staff	1	0.07%
Donator	1	0.07%
Legendary	12	0.85%
Hero_Member	56	3.94%
Sr.Member	210	14.79%
Full_Member	362	25.49%
Member	288	20.28%
Jr.Member	203	14.3%
Newbie	287	20.21%
Total users:	1420

now the really interesting comparison....

Darkcoin (3029 pages)

Rank	Users
VIP	0	0.08%
Staff	0	0.00%
Donator	2	0.08%
Legendary	9	0.35%
Hero_Member	57	2.23%
Sr.Member	291	11.40%
Full_Member	772	30.24%
Member	545	21.35%
Jr.Member	342	13.40%
Newbie	533	20.88%
Total users:	2553

Notice the number of hero and legendary members? Darkcoin has 57 (2.23%) hero and 9 (0.35%) legendary versus Monero with 56 (3.94%) hero and 12 (0.85%) legendary. Percent wise monero has attracted more than twice legendary members and almost twice hero members.

In other words, it seems oldtimers gravitate towards monero/cryptonote and ignore darkcoin.

[gjhiggins]

I have parsed the ANN topics ...

Programmatically? Source code available?

(Nice work, BTW).

Cheers

Graham

[rdnkjdi]

In light of the recent Satoshi hack it made me start thinking about the bitcoin "backup coin".

How long until from a technical perspective a cryptonote coin (Probably Monero or Boolberry) can handle the # of addresses & transaction volume of bitcoin?  (Knowing that litecoin COULD is partially where I believe it's value comes from)

[TheKoziTwo]

I have parsed the ANN topics ...

Programmatically? Source code available?

(Nice work, BTW).

Cheers

Graham

Yes, in PHP. I did not make this code to be public so it's crap and pretty messy, but if you want it here it is anyway:

Code:

https://mega.co.nz/#!RgtBGYgL!Qg7n540VNadNhTa1eaIJj3xdDVCY79mqDROdfnjAI6c

[gjhiggins]

Yes, in PHP. I did not make this code to be public so it's crap and pretty messy, but if you want it here it is anyway:

Thank you, that's most helpful.

Cheers

Graham

[othe]

In light of the recent Satoshi hack it made me start thinking about the bitcoin "backup coin".

How long until from a technical perspective a cryptonote coin (Probably Monero or Boolberry) can handle the # of addresses & transaction volume of bitcoin?  (Knowing that litecoin COULD is partially where I believe it's value comes from)

That´s no problem to handle from a technical perspective.

[rpietila]

In light of the recent Satoshi hack it made me start thinking about the bitcoin "backup coin".

How long until from a technical perspective a cryptonote coin (Probably Monero or Boolberry) can handle the # of addresses & transaction volume of bitcoin?  (Knowing that litecoin COULD is partially where I believe it's value comes from)

That´s no problem to handle from a technical perspective.

So Monero can immediately handle 5 million accounts and 100,000 tx/day?

[kingscrown]

I already posted this in the monero topic, but I think it's worth posting here as well. I have parsed the ANN topic for monero, boolberry, bytecoin, ducknote and darkcoin. Figured it would be interesting to see these results.

In this monero topic alone, a total of 1420 unique users has participated.

Below are users spread across the different user ranks:

Boolberry (198 pages)

Rank	Users
Staff	0	0.00%
Donator	0	0.00%
Legendary	5	1.09%
Hero_Member	19	4.14%
Sr.Member	83	18.08%
Full_Member	150	32.68%
Member	82	17.86%
Jr.Member	52	11.33%
Newbie	68	14.81%
Total users:	459

Bytecoin (195 pages)

Rank	Users
Staff	1	0.22%
Donator	0	0.00%
Legendary	4	0.87%
Hero_Member	19	4.17%
Sr.Member	54	11.84%
Full_Member	113	24.78%
Member	101	22.15%
Jr.Member	74	16.23%
Newbie	90	19.74%
Total users:	456

duckNote (78 pages)

Rank	Users
Staff	0	0.00%
Donator	0	0.00%
Legendary	2	0.72%
Hero_Member	5	1.81%
Sr.Member	40	14.49%
Full_Member	78	28.26%
Member	62	22.46%
Jr.Member	42	15.22%
Newbie	47	17.03%
Total users:	276

Monero (700 pages)

Rank	Users
Staff	1	0.07%
Donator	1	0.07%
Legendary	12	0.85%
Hero_Member	56	3.94%
Sr.Member	210	14.79%
Full_Member	362	25.49%
Member	288	20.28%
Jr.Member	203	14.3%
Newbie	287	20.21%
Total users:	1420

now the really interesting comparison....

Darkcoin (3029 pages)

Rank	Users
VIP	0	0.08%
Staff	0	0.00%
Donator	2	0.08%
Legendary	9	0.35%
Hero_Member	57	2.23%
Sr.Member	291	11.40%
Full_Member	772	30.24%
Member	545	21.35%
Jr.Member	342	13.40%
Newbie	533	20.88%
Total users:	2553

Notice the number of hero and legendary members? Darkcoin has 57 (2.23%) hero and 9 (0.35%) legendary versus Monero with 56 (3.94%) hero and 12 (0.85%) legendary. Percent wise monero has attracted more than twice legendary members and almost twice hero members.

In other words, it seems oldtimers gravitate towards monero/cryptonote and ignore darkcoin.

That is decent stats gathered. Really impressive!

[dunchy]

I have parsed the ANN topics ...

Programmatically? Source code available?

(Nice work, BTW).

Cheers

Graham

Yes, in PHP. I did not make this code to be public so it's crap and pretty messy, but if you want it here it is anyway:

Code:

https://mega.co.nz/#!RgtBGYgL!Qg7n540VNadNhTa1eaIJj3xdDVCY79mqDROdfnjAI6c

Nice analysis TKT.

[othe]

In light of the recent Satoshi hack it made me start thinking about the bitcoin "backup coin".

How long until from a technical perspective a cryptonote coin (Probably Monero or Boolberry) can handle the # of addresses & transaction volume of bitcoin?  (Knowing that litecoin COULD is partially where I believe it's value comes from)

That´s no problem to handle from a technical perspective.

So Monero can immediately handle 5 million accounts and 100,000 tx/day?

When the Database is done i would say yes, without it pcs will run out of ram in a matter of weeks/months.
Keep in mind its basically the same tech as Bitcoin, the transactions are bigger yes but Bitcoin is nowhere near its limit currently. Of course the Blockchain will need more storage space than Bitcoin.

I guess we should stress-test this on a Testnet and make some graphs about it.

[PestoQuinty]

In light of the recent Satoshi hack it made me start thinking about the bitcoin "backup coin".

How long until from a technical perspective a cryptonote coin (Probably Monero or Boolberry) can handle the # of addresses & transaction volume of bitcoin?  (Knowing that litecoin COULD is partially where I believe it's value comes from)

That´s no problem to handle from a technical perspective.

So Monero can immediately handle 5 million accounts and 100,000 tx/day?

When the Database is done i would say yes, without it pcs will run out of ram in a matter of weeks/months.
Keep in mind its basically the same tech as Bitcoin, the transactions are bigger yes but Bitcoin is nowhere near its limit currently. Of course the Blockchain will need more storage space than Bitcoin.

I guess we should stress-test this on a Testnet and make some graphs about it.

Time is ticking for me, 90% of RAM usage with bitmonerod opened 

+1

[Este Nuno]

In light of the recent Satoshi hack it made me start thinking about the bitcoin "backup coin".

How long until from a technical perspective a cryptonote coin (Probably Monero or Boolberry) can handle the # of addresses & transaction volume of bitcoin?  (Knowing that litecoin COULD is partially where I believe it's value comes from)

That´s no problem to handle from a technical perspective.

So Monero can immediately handle 5 million accounts and 100,000 tx/day?

Well, to be fair such an exodus wouldn't exactly happen immediately. Many people would be in shock and take a while to decide to move on.

[rdnkjdi]

Well, to be fair such an exodus wouldn't exactly happen immediately. Many people would be in shock and take a while to decide to move on.

I guess it seems kinda ingenuous to me for Monero (or boolberry) to think they deserve litecoins spot on the market cap if they can't handle being bitcoins "insurance policy"

edit:  IF that is the reason that litecoin has the market cap it does.

[r3wt]

the idiots that read threads like this...

[iCEBREAKER]

Time is ticking for me, 90% of RAM usage with bitmonerod opened 

Increase your swap file (AKA virtual memory) size.

Also, RAM is cheap.