[XMR] Monero Speculation

[GingerAle]

I was thinking synereo was possibly meant

Same answer though. I don't even really know what that is, beyond some vague thing about social media. No idea how it was launched, what it does, etc. Never looked at it.

No matter. Monero still near all time high market cap. Good news for a 2 year old coin.

Yeah, this is very true. Just today I got an email from bittrex listing the most recent batch of dead coins. For reference, here it is. No idea why these were removed.

Symbol   Coin Name
ASN   Ascension
AXIOM   Axiom
CF   Californium
CRAVE   Crave
DIBS   Dibbits
GEN   Genstake
GSM   GSMCoin
HYP   HyperStake
KOBO   KoboCoin
LDOGE   LiteDogecoin
M1   SupplyShock
NKT   Nakas
OCTO   OCTO
OPAL   OpalCoin
SHELL   ShellCoin
XRA   RateCoin
XSI   StabilitySharesXSI

These, on the other hand, were removed due to broken blockchains.

Symbol   Coin Name
BST   BitStone
BTCRY   BitCrystal
CHILD   X-Children
CIRC   CryptoCircuits
DRKT   DarkTron
DUB   Dubstep
GLOBE   Global
GRAV   Graviton
GRM   GridmasterCoin
IBITS   iBits
KTK   KryptKoin
MACRO   MACRO
MYST   MystCoin
OMC   Omnicoin
SHIBE   ShibeCoin
VMC   VirtualMiningCoin
XBS   BitStake
XWT   WorldTradeFunds



https://www.youtube.com/watch?v=V5ZWNOm4r2k

God that speech is great.

[CTTE]

For Real?  655 btc buy wall...

[vuduchyld]

For Real?  655 btc buy wall...

I don't know how real it is, but it's down to 647 BTC at .0024.  So I guess somebody is actually filling some orders there.

[vuduchyld]

For Real?  655 btc buy wall...

I don't know how real it is, but it's down to 647 BTC at .0024.  So I guess somebody is actually filling some orders there.

...aaaaaand gone.  It got pulled.

[tifozi]

For Real?  655 btc buy wall...

The interwebs broke ....

[explorer]

For Real?  655 btc buy wall...

The interwebs broke ....

Damn! I go work for a few measly hours, and volatility & volume go nuts! so many trades I missed just because I want to eat     5min chart is just a box full of long, colorful candles!

[TPTB_need_war]

I was thinking synereo was possibly meant

Same answer though. I don't even really know what that is, beyond some vague thing about social media. No idea how it was launched, what it does, etc. Never looked at it.

A competing social network for maskcoin or jambox or w/e hes calling it now. Hes trying to imply that you and Shelby intentionally gang on together on things maybe?

I dont know, but it seems like you broke the fella so i guess we probably wont know

I've read most of the 50+ page Synereo white paper, expended several hours viewing some of their YouTube Hangouts, done some limited discussion with their founding developer (username here Elokane), and posted in every recent Synereo thread in Altcoin Discussion.

Synereo was launched as a vaporware ICO and the math whiz on the project is Greg Meredith who is into process calculus research and was one of key persons apparently on Microsoft's BizTalk design. Greg is into using Scala and also is collaborating on the math modeling of Ethereum's upcoming, promised Casper design (which btw several of us, excluding smooth, have criticized in the Ethereum Paradox thread for its fundamental insoluble flaws).

I have pointed out that there are numerous P2P (aka distributed) social networking projects, so the idea of Synereo being the first and able to sweep the world, is very slim, especially they have no compelling features afaics. Thus I have criticized them for preselling tokens ("AMPS") with no adoption and on hype. Their major claim as an innovative feature is an "Attention Model" which is composed of reputation ("Reo") and a counter-vailing force of being able to pay to override reputation with the AMPS tokens. In other words, they aim to make the content that the users share more relevant. I had pointed out that the Reo needs to be fine-grained on for example #hashtags, and Elokane indicated that although that is not in the white paper they are implementing something like that, yet there is no holistic public specification afaik. They are claiming to be very close to beta, but I've pointed out that doesn't mean they are any where near adoption. I have also pointed out that Facebook users don't seem to have major complaints about the relevance of shared content on feeds, thus I doubt anyone will adopt Synereo (because their friends won't be there and much less content sharing and other chicken and egg dilemmas).

Also I have pointed out that the economics of advertising is the most someone could expect to earn by being paid to share (the AMPs model) is perhaps about $1 (in developing world) to $10 (first-world) per day and probably not that much. It simply isn't worth anyone's time. People don't join social networks to be paid some palty income. They join for other more important reasons. Thus I've argued the economic model for the AMPS is fundamentally flawed.

Thus I have argued they are preselling shit which no market.

Also I don't really understand the process calculus well enough to know if it is technobabble bullshit or not, but it sure looks like it to me. It looks like ivory tower shit that has no real implications in the real world. What did BizTalk do that was relevant? I did a Google search and it seems basically no one used it? Excuse me for being skeptical but the selling of ICOs is becoming too lucrative and attractive for every Joe who has some technobabble to make n00bs drool.

Smooth is not involved in my JAMBOX project at all. I occasionally trade ideas with him about technology. My JAMBOX project will when it is crowdsourced (not for tokens just for Tshirts!) will explain that it targets compelling features and economics. I have not yet announced that, because for one thing is that at the moment I am working on potentially creating a new programming language based on top of Rust, or perhaps contributing to Rust. Because JAMBOX is based on the concept of empowering mobile apps, and so I need to be sure the language we are using is the best in severals ways one of which is JIT compilation.

I don't hate Synereo's people. I just wish they hadn't done a vaporware ICO, both for the legal reasons of selling unregistered investment securities to non-accredited USA investors apparently in violation of securities law as provided for by the Supreme Court's Howey test and simply because it is the antithesis of the objective ethics (i.e. no zero-sum games) of meritocratic software development to sell vaporware.

[TPTB_need_war]

@TPTB_need_war The AMD cpus are generally much more cost efficient than Intel across the board for XMR mining (and some people have noticed this). The APU models can mine on both the CPU and GPU.

Yes but that isn't my point. Try again.

Hint: what ratio of carryless multiply instructions to other instructions does Cryptonite use and what is the optimum possible in a memory hard hash.

(note this is my old hash design and I am willing to give it away so no harm to do this now)

Cryptonight does not use carryless multiplication. Another hash algorithm could use it but that is not relevant to XMR at this time (maybe propose on the technical improvements thead?). Some ARM chips support it too at very low cost.

Afair, carryless multiply is generally part of the AES algorithm and is one of the AES-NI instructions. It has been 2 years since I studied the Monero hash algorithm source code, so it is possible you use some AES-NI instructions and not all of them.

My post was entirely relevant to point that I was replying to which is that GPUs may have a cost advantage over the CPU for the current Cryptonite algorithm, and what a solution could be.

[TPTB_need_war]

I'll leave how I derived these numbers as an exercise to the reader for now with the hint that it is almost entirely objective.

smoothie replied before you wrote your post:

So then basically everything you've said is just words.

No facts/proof to back up your bold claims.

No worries. On to the next thread...

Hypocrisy is not meritocracy. It is even worse in that it is self-defeating.

You may not like how I presented it as a bit of a puzzle

I didn't dislike you claiming with implied but without explicit proof. Smoothie didn't like it! By transitive logic as quoted. I was pointing out the hypocrisy of smoothie's attack on me by applying his logic to your post.

[Gillette]

Do you think USD/EUR to XMR gateway would boost Monero?

[smooth]

Do you think USD/EUR to XMR gateway would boost Monero?

(Assuming you mean boost the price.)

By a little, at least in the short term. Longer term the effect may be larger but it will be impossible to run the experiment since there either will or will not be such gateway.

Purely my opinion with no supporting evidence.

[Gillette]

Do you think USD/EUR to XMR gateway would boost Monero?

(Assuming you mean boost the price.)

By a little, at least in the short term. Longer term the effect may be larger but it will be impossible to run the experiment since there either will or will not be such gateway.

Purely my opinion with no supporting evidence.

Well, by boost I mean mostly the adoption of XMR (also rise of price).

Do you guys think it will importantly increase XMR adoption?

[smooth]

Do you think USD/EUR to XMR gateway would boost Monero?

(Assuming you mean boost the price.)

By a little, at least in the short term. Longer term the effect may be larger but it will be impossible to run the experiment since there either will or will not be such gateway.

Purely my opinion with no supporting evidence.

Well, by boost I mean mostly the adoption of XMR (also rise of price).

Do you guys think it will importantly increase XMR adoption?

Yes it probably would.

In terms of transactional use, it would help alongside other factors such as ease of integration on the merchant side, and somewhat on the end user side, including native APIs, better documentation, and turnkey payment processing (and on the end user side more wallets). There are many components that all have to fit together, any one or two by themselves won't do much.

In terms of use as a store of value, some are probably put off by the two step process of needing to go through BTC which adds both inconvenience and probably cost.

On the other hand, it may be that usage of crypto will come mostly from other markets that may have trouble accessing a USD or EUR gateway even if one existed. Venezuela is mentioned a lot for example (mostly in connection with Bitcoin).

[TheKoziTwo]

Do you think USD/EUR to XMR gateway would boost Monero?

Regarding USD we already got something better: Tether USD. It's trading on poloniex (XMR/USDT). Tether USD is blockchain based (on counterparty) and that means you can store the USD in your own cold storage and/or easily transfer them between different exchanges. USDT is still centralized in the sense that it's backed by real USD managed by one entity, but it's one step beyond storing the USD on an exchange as it allows people to trade outside of the exchange. Also, tether has only one job: to back the asset. If you store USD on any exchange and it suffers loss in any other currency you risk socialized losses, or to be brought down with the exchange. With Tether USD the risk is limited to only USD and only the one backing entity.

Imagine if GoxUSD was on the blockchain, people could still trade it to this day. Blockchain currencies with real backing is one step above the traditional way of storing currencies imo.

[Gillette]

Do you think USD/EUR to XMR gateway would boost Monero?

(Assuming you mean boost the price.)

By a little, at least in the short term. Longer term the effect may be larger but it will be impossible to run the experiment since there either will or will not be such gateway.

Purely my opinion with no supporting evidence.

Is it so difficult to set up a fiat/xmr gateway?

[TheKoziTwo]

Do you think USD/EUR to XMR gateway would boost Monero?

(Assuming you mean boost the price.)

By a little, at least in the short term. Longer term the effect may be larger but it will be impossible to run the experiment since there either will or will not be such gateway.

Purely my opinion with no supporting evidence.

Is it so difficult to set up a fiat/xmr gateway?

Technically no. Legally I'd argue that it's impossible long term. For short term it could work, but the barrier to entry is high. Depending on where you live you'd expect there to be things like license to operate, KYC requirements, troublesome banks and other ridiculous regulations and/or taxes.

I think a gateway using something like Tether USD could be a reasonable compromise.

[nioc]

There are many fiat/btc gateways and even a fiat/eth gateway in Kraken.  So why would a fiat/xmr gateway be impossible long term?

[Gillette]

Do you think USD/EUR to XMR gateway would boost Monero?

(Assuming you mean boost the price.)

By a little, at least in the short term. Longer term the effect may be larger but it will be impossible to run the experiment since there either will or will not be such gateway.

Purely my opinion with no supporting evidence.

Is it so difficult to set up a fiat/xmr gateway?

Technically no. Legally I'd argue that it's impossible long term. For short term it could work, but the barrier to entry is high. Depending on where you live you'd expect there to be things like license to operate, KYC requirements, troublesome banks and other ridiculous regulations and/or taxes.

I think a gateway using something like Tether USD could be a reasonable compromise.

Why? Because of the anonymous nature of XMR?

[ArticMine]

Do you think USD/EUR to XMR gateway would boost Monero?

Regarding USD we already got something better: Tether USD. It's trading on poloniex (XMR/USDT). Tether USD is blockchain based (on counterparty) and that means you can store the USD in your own cold storage and/or easily transfer them between different exchanges. USDT is still centralized in the sense that it's backed by real USD managed by one entity, but it's one step beyond storing the USD on an exchange as it allows people to trade outside of the exchange. Also, tether has only one job: to back the asset. If you store USD on any exchange and it suffers loss in any other currency you risk socialized losses, or to be brought down with the exchange. With Tether USD the risk is limited to only USD and only the one backing entity.

Imagine if GoxUSD was on the blockchain, people could still trade it to this day. Blockchain currencies with real backing is one step above the traditional way of storing currencies imo.

Even better if one could sell GoxUSD short.  When it comes to USD the safest by far is the actual notes and coins., otherwise known as cash.  USDT has the risk of fractional reserve / default, present in digital versions of USD, and is subject the Bitcoin's 1 MB blocksize limit. This can be the worst of fiat and crypto combined in one asset.

[primer-]

We are about to take delivery of a 8 card GPU server (8 Tesla K10.G2.8GB) , anyone dares to speculate how much they can hash in total ?