[XMR] Monero Speculation

[owlcatz]

I always buy more XMR when BTC spikes. It has always gone down when BTC goes up, nothing new here.

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[bbc.reporter]

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No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second. 

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

[explorer]

...

No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second. 

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

   I cannot offer any technical explanation, but consider that such a situation will not come to be any time Soon^TM.  Growth beyond technological capabilities will be stifled until it is no longer beyond.  Ain't technology grand?   

[Febo]

...

No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second.  

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

We might live in a land of huge blockchains. And most used one will for sure not be so dominating as it is Bitcoins blockchain right now.

[RyanLiang]

...

No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second.  

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

We might live in a land of huge blockchains. And most used one will for sure not be so dominating as it is Bitcoins blockchain right now.

That is my hope as well. The price of bitcoin will also reflect that.

[equipoise]

...

No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second.  

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

Block 1206356 contains 10 transactions in 31655 bytes. That's 3165.5 bytes per transaction (there's different ratio in each block and I'm not sure about the mean. With CT the ratio will change, I suppose). 50GB per block are about 17 million transactions per block (510 million transactions per hour). At that rate a single 4TB HDD could store less then 3 hours of blocks. We can't keep that rate at decentralized manner currently.

[smooth]

...

No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second.  

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

Block 1206356 contains 10 transactions in 31655 bytes. That's 3165.5 bytes per transaction (there's different ratio in each block and I'm not sure about the mean. With CT the ratio will change, I suppose). 50GB per block are about 17 million transactions per block (510 million transactions per hour). At that rate a single 4TB HDD could store less then 3 hours of blocks. We can't keep that rate at decentralized manner currently.

RingCT transactions are larger, however more of the data is ultimately pruneable, so comparing the full RingCT transaction size with Bitcoin (which relies heavily on pruning for what scalability claims it makes at all) isn't correct.

[iCEBREAKER]

As for China?  If ever a massive cohort of people needed untraceable and fungible money, it lives there.  If When they get it, we are nowhere near where where we will end up.

You misspelled "India."   

Bitcoin 2.0™

Fuck it...  Sub $10 is a joke.

Bitcoin is the multi-platinum chart-topping #1 smash hit of e-cash.

Monero is the exclusive white label dubplate 'Maximum Extropy' remix that is only popular in underground circles.

Regardless, all the "Bluh Bluh Bitcoin is dying BECAUSE MUH CRIPPLED 1MB FRAPPUCCINO" nonsense here is out of hand.

Don't the r/btc guys ever get tired of writing comically overwrought and inaccurate, factually challenged obituaries for Honey Badger?

Don't they ever get tired of looking silly and ridiculous as Honey Badger just keeps on doing whatever he wants (including breaking through $800 like a wet paper bag)?

[Dotto]

looking for break out up here

Lovely contemporary art

[kurious]

As for China?  If ever a massive cohort of people needed untraceable and fungible money, it lives there.  If When they get it, we are nowhere near where where we will end up.

You misspelled "India."  

Bitcoin 2.0™

Fuck it...  Sub $10 is a joke.

Bitcoin is the multi-platinum chart-topping #1 smash hit of e-cash.

Monero is the exclusive white label dubplate 'Maximum Extropy' remix that is only popular in underground circles.

Regardless, all the "Bluh Bluh Bitcoin is dying BECAUSE MUH CRIPPLED 1MB FRAPPUCCINO" nonsense here is out of hand.

Don't the r/btc guys ever get tired of writing comically overwrought and inaccurate, factually challenged obituaries for Honey Badger?

Don't they ever get tired of looking silly and ridiculous as Honey Badger just keeps on doing whatever he wants (including breaking through $800 like a wet paper bag)?

Hmm...  India has negligible BTC volume yet, so one would expect China to beat them to it.  That said, I don't disagree they are in need of a way out of their cash notes being abolished with 4 hours notice.

As for BTC - I haven't said it is crippled, I hodl it too.   I think BTC has not handled 'scaling' well thus far - but I am not forecasting its demise.

Merry Christmas Icebreaker

[logictense]

Looks like bitcoin grabbed this anonymous sucker in a headlock and applies the force of the whole body to suffocate its victim.

Ek charts aint looking sexy. All signs are that it gets steadily smothered by bitcoin, and I would expect prices to hit 280K basement. Someone also messes up with FCT lol. I wish bitcoin bull

had more arms to take FCT down in headlock, too.

[fiscorcle]

Looks like bitcoin grabbed this anonymous sucker in a headlock and applies the force of the whole body to suffocate its victim.

Ek charts aint looking sexy. All signs are that it gets steadily smothered by bitcoin, and I would expect prices to hit 280K basement. Someone also messes up with FCT lol. I wish bitcoin bull

had more arms to take FCT down in headlock, too.

I don't see XMR as a legitimate challenger to BTC, XMR is for those who want to take one specific feature of bitcoin (anonymity) and take it a step further

[Hueristic]

Looks like bitcoin grabbed this anonymous sucker in a headlock and applies the force of the whole body to suffocate its victim.

Ek charts aint looking sexy. All signs are that it gets steadily smothered by bitcoin, and I would expect prices to hit 280K basement. Someone also messes up with FCT lol. I wish bitcoin bull

had more arms to take FCT down in headlock, too.

I don't see XMR as a legitimate challenger to BTC, XMR is for those who want to take one specific feature of bitcoin (anonymity) and take it a step further

ROTFLMFAO! You idiot, BTC is completely traceable and not even remotely anon.

[americanpegasus]

Original image by /u/hyarmaite on Reddit. 

[Shiroslullaby]

Yes Bitcoin is not at all anonymous.
Its super easy to use any blockchain explorer, view a transaction, look at the addresses involved, and any previous transactions those addresses were involved in.
Obviously you can make a new address if you need to, but the fact that its so easy to trace payment amounts and the addresses involved is a huge issue in some cases.

If devs are looking for a logo, we must be pretty close to the release of the new GUI wallet?

[smooth]

You idiot

Can we tone down the personal attacks? Thanks

[dEBRUYNE]

Ledger Journal has released its first edition and the first paper is Ring Confidential transactions by the Monero Research Lab

http://www.ledgerjournal.org/ojs/index.php/ledger/issue/view/2


Bitfinex allows verified users and investors to speed up their Monero deposits

https://www.bitfinex.com/posts/179


[GUIDE] Monero Cold Storage, Monitoring, and Spending Guide (MS Windows) - Part 1: Creating The Wallet - by JollyMort

https://www.reddit.com/r/Monero/comments/5jhoij/guide_monero_cold_storage_monitoring_and_spending/


OpenBazaar 1.1.10 Released – Purchase with Ether, Monero and More Via ShapeShift.io Integration

https://blog.openbazaar.org/openbazaar-1-1-10-released-purchase-with-ether-monero-and-more-via-shapeshift-io-integration/


"Monero is the currency Bitcoin tried to be"

http://wmstudios.com.au/index.php/news/blog/102-monero-is-the-currency-bitcoin-tried-to-be

[Hueristic]

You idiot

Can we tone down the personal attacks? Thanks

Sometimes I can't just restrain myself with these uneducated trolls that just spout complete lies.

Besides haven't seen red in awhile!

[bbc.reporter]

...

No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second.  

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

Block 1206356 contains 10 transactions in 31655 bytes. That's 3165.5 bytes per transaction (there's different ratio in each block and I'm not sure about the mean. With CT the ratio will change, I suppose). 50GB per block are about 17 million transactions per block (510 million transactions per hour). At that rate a single 4TB HDD could store less then 3 hours of blocks. We can't keep that rate at decentralized manner currently.

RingCT transactions are larger, however more of the data is ultimately pruneable, so comparing the full RingCT transaction size with Bitcoin (which relies heavily on pruning for what scalability claims it makes at all) isn't correct.

Ah so scaling Monero is not a sure thing it will be a success afterall. I do not mean anything negative by it. I still support Monero as long as the developers stay on the path of research and that they are here for the grand experiment of cryptocoins.

[smooth]

...

No we don't, the ability to have and hold value without monitoring is an inalienable right afa I'm concerned and i think everyone should hold that belief.

I agree. In addition privacy and anonymity are needed in order to ensure fungibility in crypto currencies, and fungibility is is a necessary requirement of money. Then there is of course the adaptive blocksize in Monero which ensures that there is no arbitrary limit on the number of transactions per second.  

People in this scene don't know how important and rare this is.

I have a question about adaptive blocksizes. What if Monero becomes truly successful and the active users reach 100,000,000. Will 50gb blocks be possible if transactions reach the touted Visa standard? If yes then how will the blockchain be maintainable?

Block 1206356 contains 10 transactions in 31655 bytes. That's 3165.5 bytes per transaction (there's different ratio in each block and I'm not sure about the mean. With CT the ratio will change, I suppose). 50GB per block are about 17 million transactions per block (510 million transactions per hour). At that rate a single 4TB HDD could store less then 3 hours of blocks. We can't keep that rate at decentralized manner currently.

RingCT transactions are larger, however more of the data is ultimately pruneable, so comparing the full RingCT transaction size with Bitcoin (which relies heavily on pruning for what scalability claims it makes at all) isn't correct.

Ah so scaling Monero is not a sure thing it will be a success afterall. I do not mean anything negative by it. I still support Monero as long as the developers stay on the path of research and that they are here for the grand experiment of cryptocoins.

I do not believe anyone has claimed a sure thing. These are all experiments.