rpietila Altcoin Observer

[pa]

Here's a proposal:  Anyone whinging for the next week, who hasn't donated at least 100 XMR to the core address (cf. OP), gets whacked. 

<pa donates 100 XMR, keeps whinging options open>

[btc-mike]

In order to continue attracting the most number of new users, the database update would need to be completed.

Absolutely, totally true and correct.  

Now can we please go a 4 pages without  any more whinging about it?  (Not pointed at you specifically, btc-mike.)

Here's a proposal:  Anyone whinging for the next week, who hasn't donated at least 100 XMR to the core address (cf. XMR OP), gets whacked.  

LOL - I'm done with that, but now I have issues with whinging. Would you please use whining? These UK phrases confuse me.

[cAPSLOCK]

In order to continue attracting the most number of new users, the database update would need to be completed.

Absolutely, totally true and correct.  

Now can we please go a 4 pages without  any more whinging about it?  (Not pointed at you specifically, btc-mike.)

Here's a proposal:  Anyone whinging for the next week, who hasn't donated at least 100 XMR to the core address (cf. XMR OP), gets whacked.  

Do you mean you are gonna hitman them?

[TheFascistMind]

FATCA & How It is Destroying International Commerce

This is what I posted upthread how the powers-that-be will eventually make it is impossible to get enough cash if you can't document where the cash come from and is going to.

This is why ring-signatures are useless anonymity if you need to convert some crypto-currency to fiat.

Thus follows only two solutions:

1. You've got to make the anonymous currency popular enough that you less often need to convert it to fiat in order to use it. The anonymous coin must be a currency, not a silly investor pump like Monero.

2. You've got to make it such that when you do convert it to fiat, you can provide your private keys if necessary and it can't be proven that you story of where you obtained the funds can't be proven false. (Obviously I am withholding some details on my thoughts here).

P.S. sooner or later readers wil learn that I am rarely wrong about the future when I've researched it extensively for the past 9 years. To the poster who says Armstrong would be rich if his model was always correct—he is.

Edit: I don't have time for stupid shit! We have a serious problem in the world now.

Edit: if you want to talk about scams, look at Monero's emission curve which was designed to give most of the coins to your group of early investors (so you are not a scammer  ):

Emission curve variants

https://i.imgur.com/jSu2EQU.png

[aminorex]

1. You've got to make the anonymous currency popular enough that you less often need to convert it to fiat in order to use it. The anonymous coin must be a currency, not a silly investor pump like Monero.

Edit: if you want to talk about scams, look at Monero's emission curve which was designed to give most of the coins to your group of early investors (so you are not a scammer  ):

This is roughly the opposite of the truth.  The faster the emission, the lower the price.  The lower the price the easier it is for persons of limited means to acquire.  A pump scheme favors the insiders.  In the case of Monero, insiders were not favored.  The bytecoin scammers were favored by privileged information about the crippled hash implementation.  That advantage was elminated rather quickly, and means little now.  They have probably spent most of their mined coins in conducting attacks on Monero already.

Professional service providers in my locale are already accepting Monero as payment for services rendered.  That is not true of any other privacy-enhanced crypto, to my knowledge.  Real use.  Real currency.  Right now.  I have paid for goods and services in XMR myself.  It's not hard to do, really.  You just find a motivated seller and offer a fair deal.

2. You've got to make it such that when you do convert it to fiat, you can provide your private keys if necessary and it can't be proven that you story of where you obtained the funds can't be proven false. (Obviously I am withholding some details on my thoughts here).

That would be a relatively small change to Monero.  You should submit a pull request if it is an itch you want to scratch.  I have no intention of ever converting a single XMR into fiat.  I'll just buy what I need to buy, with XMR.  If exigent circumstances require it, I could just buy gold, to impress the primitives with shiny, as required.

[cAPSLOCK]

1. You've got to make the anonymous currency popular enough that you less often need to convert it to fiat in order to use it. The anonymous coin must be a currency, not a silly investor pump like Monero.

I believe if Bitcoin or any other public ledger crypto becomes that ubiquitous Monero can ride on it's popularity as transactions can be done anonymously with a single bitcoin point with a single address for a single transaction.  And Monero becomes a store of value. 

In this case Monero can also begin to be used directly for transactions.

Simple.

[ArticMine]

The main point of my post is still valid. In its current state, XMR requires a lot of resources. If you "extrapolate the blockchain size vs time and figure out when the daemon will not load on a plain vanilla Win build with 8GB 4GB. Unless the database is complete at that time, new users will be unable to try out XMR and those already using XMR will lose functionality."

I agree. The current blockchain memory usage is about 2.5 GB (the actual blockchain is about 1 GB but it seems to bloat up by about 2.5x when loaded into memory, the reasons for which were explained by crypto_zoidberg on the BBR thread, since BBR is about the same as XMR in this respect). The natural growth rate seems to be something less than 10 MB per day. At that rate we have at least 160 days until blockchain size increase by 1.6 GB and therefore memory usage increases by about 4 GB (putting an 8 GB system in the same spot as 4 GB system today).

A tighter deadline is a memory increase by 1.5 GB which which will likely make things uncomfortable (but possibly still usable) on 4 GB systems even with virtual memory. That corresponds to a blockchain size increase of 400 MB, which is something more than 40 days (since the 10 GB estimate above was conservative).

Hopefully we will have a database functional by then.

Bitcoin and all altcoins except XMR run on her emachine.

I thought all users were welcome, not just uber geeks.

True, it wasn't our bad idea to load everything into RAM. We are fixing it though.

On Ubuntu 12.04 (GNU/Linux). I get bitmonerod using 4.8 GB - 4.9 GB of virtual memory and 2.4 GB of memory. This is on an 8 GB system. 

[OrientA]

Right now.  I have paid for goods and services in XMR myself.  It's not hard to do, really.  You just find a motivated seller and offer a fair deal.

Good to hear that. Can you say more about that?

[arnuschky]

On Ubuntu 12.04 (GNU/Linux). I get bitmonerod using 4.8 GB - 4.9 GB of virtual memory and 2.4 GB of memory. This is on an 8 GB system. 

Same here, same OS/ram, x64

[aminorex]

Right now.  I have paid for goods and services in XMR myself.  It's not hard to do, really.  You just find a motivated seller and offer a fair deal.

Good to hear that. Can you say more about that?

A previously published example (my largest XMR purchase to date):  I purchased a large-format oil painting in XMR; the artist subsequently paid rent in XMR.

[smoothie]

The main point of my post is still valid. In its current state, XMR requires a lot of resources. If you "extrapolate the blockchain size vs time and figure out when the daemon will not load on a plain vanilla Win build with 8GB 4GB. Unless the database is complete at that time, new users will be unable to try out XMR and those already using XMR will lose functionality."

I agree. The current blockchain memory usage is about 2.5 GB (the actual blockchain is about 1 GB but it seems to bloat up by about 2.5x when loaded into memory, the reasons for which were explained by crypto_zoidberg on the BBR thread, since BBR is about the same as XMR in this respect). The natural growth rate seems to be something less than 10 MB per day. At that rate we have at least 160 days until blockchain size increase by 1.6 GB and therefore memory usage increases by about 4 GB (putting an 8 GB system in the same spot as 4 GB system today).

A tighter deadline is a memory increase by 1.5 GB which which will likely make things uncomfortable (but possibly still usable) on 4 GB systems even with virtual memory. That corresponds to a blockchain size increase of 400 MB, which is something more than 40 days (since the 10 GB estimate above was conservative).

Hopefully we will have a database functional by then.

Bitcoin and all altcoins except XMR run on her emachine.

I thought all users were welcome, not just uber geeks.

True, it wasn't our bad idea to load everything into RAM. We are fixing it though.

I'm starting to wonder why the people/person who originally released monero with the intention of loading everything in RAM. Geez. lol

[smooth]

The main point of my post is still valid. In its current state, XMR requires a lot of resources. If you "extrapolate the blockchain size vs time and figure out when the daemon will not load on a plain vanilla Win build with 8GB 4GB. Unless the database is complete at that time, new users will be unable to try out XMR and those already using XMR will lose functionality."

I agree. The current blockchain memory usage is about 2.5 GB (the actual blockchain is about 1 GB but it seems to bloat up by about 2.5x when loaded into memory, the reasons for which were explained by crypto_zoidberg on the BBR thread, since BBR is about the same as XMR in this respect). The natural growth rate seems to be something less than 10 MB per day. At that rate we have at least 160 days until blockchain size increase by 1.6 GB and therefore memory usage increases by about 4 GB (putting an 8 GB system in the same spot as 4 GB system today).

A tighter deadline is a memory increase by 1.5 GB which which will likely make things uncomfortable (but possibly still usable) on 4 GB systems even with virtual memory. That corresponds to a blockchain size increase of 400 MB, which is something more than 40 days (since the 10 GB estimate above was conservative).

Hopefully we will have a database functional by then.

Bitcoin and all altcoins except XMR run on her emachine.

I thought all users were welcome, not just uber geeks.

True, it wasn't our bad idea to load everything into RAM. We are fixing it though.

I'm starting to wonder why the people/person who originally released monero with the intention of loading everything in RAM. Geez. lol

Probably because it was easier and they were in a hurry to release something with a huge hidden premine and take advantage of willingness of investors during the altcoin bubble to not pay much attention to such things and buy almost any piece of shit. They were a bit late though.

[ed_teech]

StealthCoin is a new cryptocurrency that is changing CryptoNote's ring signature scheme. It is coming up with a blockchain that needs smaller space. You can read the latest whitepaper released.

[saddambitcoin]

Right now.  I have paid for goods and services in XMR myself.  It's not hard to do, really.  You just find a motivated seller and offer a fair deal.

Good to hear that. Can you say more about that?

A previously published example (my largest XMR purchase to date):  I purchased a large-format oil painting in XMR; the artist subsequently paid rent in XMR.

they must have a pretty cool landlord to accept XMR.

[vokain]

Right now.  I have paid for goods and services in XMR myself.  It's not hard to do, really.  You just find a motivated seller and offer a fair deal.

Good to hear that. Can you say more about that?

A previously published example (my largest XMR purchase to date):  I purchased a large-format oil painting in XMR; the artist subsequently paid rent in XMR.

they must have a pretty cool landlord to accept XMR.

My landlord should accept XMR but payment is conducted through a management company and not on an individual basis
maybe I should talk to the owners and undercut my management company soon...

[papa_lazzarou]

Right now.  I have paid for goods and services in XMR myself.  It's not hard to do, really.  You just find a motivated seller and offer a fair deal.

Good to hear that. Can you say more about that?

A previously published example (my largest XMR purchase to date):  I purchased a large-format oil painting in XMR; the artist subsequently paid rent in XMR.

Did the artist pay the rent to someone else than you? It makes all the difference.

[Lohoris]

A previously published example (my largest XMR purchase to date):  I purchased a large-format oil painting in XMR; the artist subsequently paid rent in XMR.

Did the artist pay the rent to someone else than you? It makes all the difference.

Plus: did he have a regular contract, and got a invoice?

[aminorex]

Did the artist pay the rent to someone else than you? It makes all the difference.

Yes.

[aminorex]

A previously published example (my largest XMR purchase to date):  I purchased a large-format oil painting in XMR; the artist subsequently paid rent in XMR.

Did the artist pay the rent to someone else than you? It makes all the difference.

Plus: did he have a regular contract, and got a invoice?

She.  No.

[thefunkybits]

PRIMECOIN (XPM) is breaking upwards with high volume on btc-e