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Author Topic: [XMR] Monero Speculation  (Read 3200085 times)
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November 28, 2018, 09:45:50 PM
Merited by Last of the V8s (1)
 #39981


I believe the power of Bitcoin and Monero (I see virtually NO other useful blockchain projects) will be stronger than the power of traditional finance.  And as the "big boys" pick it up to "fix" it, control, it etc they will be changed more than it is.


God I hope that is true, I believe it too BUT remains to be seen.

Been in a discussion lately with a good friend (only real world person I know who's also into crypto) and his confidence has been badly shaken by the speed and depth of this CryptoWinter period we're in now.

I still believe, however.

Question remains, you said "bitcoin and monero" and XMR of course but... WHICH "bitcoin"??

I think there are a few other possible worthy contenders too... DigiByte appears possibly the last genuine opportunity to buy ANY "real crypto" under a penny.

Oh, maybe even Doge too, LOL.

But not much else, really.  

Either it'll all fail or one of these, XMR BTC BCH DGB DOGE (any others?) -OR- something that does NOT EXIST yet... will prevail.

P.S. {Edit} Forgot left out Litecoin in there... only on the *theory* that MAYBE if BTC really becomes "gold for bankers" and $50 transaction fees to move $1 Million per coin, then little-brother LTC tags along becoming as the transaction-purpose coin.  This is the THEORY I believe Litecoiners cling to, but... anyone really believe it will actually play out this way???  I have no clue so don't attack me on it, just sayin'... LOL

When it comes to cryptowinter.  Yeah it's hard.  And this one has been soul crushing to me at times. And I do not think it is quite over.   I am a terrible trader, so I do not trade.  That is not why I am interested in BTC and XMR.  But look at my join date (not a brag... if only I was smart enough then to buy the 5000 BTC I considered buying on my porch when it was ~$2.).  I have seen several of these winters.

As to the "Which is the real BTC?".  I have an EXTREMELY strong option on this.  There is ONE Bitcoin.  And it is BTC.  We could go into the depth of reasons why, but it's not for this thread.  Craig Wright is a conman.  Ver is a troubled narcissistic idealist.  And for different reasons they have tried to wrestle the title of Bitcoin away from BTC and have created two centralized shitcoins and done great damage to the reputation of crypto.  Could I be wrong?  Sure... and I will pay dearly for it if I am.  My bet is where my belief is.

Here's the thing.  Decentralized, permissionless, censorship resistant money is either going to be successful or not.  If it is not then we have seen the peak.  It will never have another all time high.  BCHABC, BCHSV, XRP, ETH, ALL the ICOs, and virtually ALL the ALTS are *NOT* decentralized, permissionless, censorship resistant money.

But if it is successful then then I think next upswing (whether its in a month or 5 years) will be so shocking that the average public will not believe it.  The mechanics of the system and the unprecedented nature of this invention will cause a most breathtaking effect when they kick in.

And Monero is the only complimentary blockchain that *is* Decentralized, permissionless, censorship resistant money but offers something Bitcoin CANNOT.  That is an opaque blockchain.  Bitcoin will never do that.  Layer two can be as MimbleWimbled as they like...  but layer one will ALWAYS be transparent.

Monero also stands a chance of failure.  Moreso than bitcoin by an order of magnitude in my opinion.  But it also stands a chance to be a continued success in a way no other altcoin can even touch.

https://home.treasury.gov/news/press-releases/sm556

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November 28, 2018, 09:59:16 PM
Merited by cAPSLOCK (1)
 #39982

I’ve been watching Monero for a long time, I think this is one of the most profitable assets, but why I didn’t take it three years ago, although I thought to take a lot, I took just a few coins just like that.

It's a good time to buy, methinks.  Recent events rang my cheap bell.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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November 28, 2018, 10:16:15 PM
 #39983


It's a good time to buy, methinks.  Recent events rang my cheap bell.


OMG the return of the legend... welcome back, brother!!

Aminorex and I both finally come back to "Monero Spec" after months of absence, about the same time?

That must signify something, eh?

Back-Up-The-Truck, boyz??   LOL...  Grin

Maybe.  But... nahhh.  Not for me.  Not yet.

Think ima still wait a bit yet and maybe try to "give up the absolute bottom" a little bit.  Wait & See if the bounce really comes, in earnest, someday.

After all IF/WHEN such "bounce" really comes to us and a new moonphaze restarts there's gonna be PLENTY OF UPSIDE to the next peak ($100,000 bitcoin?)

Let's see how things go now till maybe mid-spring 2019

- 1KeyJKVWVxdavKTetDJpQWdUaota5jbtX6 -
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November 29, 2018, 04:15:52 PM
 #39984


It's a good time to buy, methinks.  Recent events rang my cheap bell.


OMG the return of the legend... welcome back, brother!!

Lots of good posts in here, but this thread is not the same without aminorex and his monkey.

certainly a welcome sight! Smiley

@aminorex, Great to see you posting. Smiley

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November 29, 2018, 06:40:10 PM
 #39985

Probably not good news for Monero price in the short term, next week or three, but maybe over longer periods not necessarily bad news:

https://twitter.com/CoinbasePro/status/1068203146256764928?s=19
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November 29, 2018, 06:50:37 PM
 #39986

This one is good news for sure, maybe not new to most of us but good for monero in general i guess

https://cointelegraph.com/news/hardware-wallet-ledger-nano-s-announces-support-for-monero
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November 29, 2018, 09:31:40 PM
 #39987

Probably not good news for Monero price in the short term, next week or three, but maybe over longer periods not necessarily bad news:

https://twitter.com/CoinbasePro/status/1068203146256764928?s=19

The deep state is always first in line


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
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November 29, 2018, 10:05:07 PM
Merited by lethos3 (1)
 #39988

Back-Up-The-Truck, boyz??   LOL...  Grin

Maybe.  But... nahhh.  Not for me.  Not yet.

For most folks doing things gradually keeps risk closer to their tolerance.  You don't want to be chasing it up in the FOMO frenzy, so starting to nibble a bit early, and patiently enduring a tolerable drawdown should one occur, means you at least have some skin in if the correction takes you by surprise.  I think we are about half the fundamental PQ=MV price right now, so a correction seems inevitable, eventually, unless the dnm economy suddenly contracts to match.  I allocate a % of powder to limit bids increasing in size all down the book, and a % of disposable income to periodic buys, under such circumstances.  But yeah, the staircase has not confirmedly reversed yet.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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December 01, 2018, 09:54:48 AM
Merited by Last of the V8s (1), lethos3 (1)
 #39989

Back-Up-The-Truck, boyz??   LOL...  Grin

Maybe.  But... nahhh.  Not for me.  Not yet.

For most folks doing things gradually keeps risk closer to their tolerance.  You don't want to be chasing it up in the FOMO frenzy, so starting to nibble a bit early, and patiently enduring a tolerable drawdown should one occur, means you at least have some skin in if the correction takes you by surprise.  I think we are about half the fundamental PQ=MV price right now, so a correction seems inevitable, eventually, unless the dnm economy suddenly contracts to match.  I allocate a % of powder to limit bids increasing in size all down the book, and a % of disposable income to periodic buys, under such circumstances.  But yeah, the staircase has not confirmedly reversed yet.

so, Monero is oversold but we are not out of the woods yet...

I do agree it's less likely things can drop much further, but Monero will not be 'out of the woods' until Bitcoin is.  It's stating the obvious, but the behemoth that BTC is, in a market that is dominated by it, sets the tone... meaning any prediction of Monero's price (in USD terms) is heavily dependent on the BTC /USD market.

That said, assuming the bear market must end in BTC and that the end is more likely to be months, than years away now, then that will see Monero's USD price rise heavily from the lows we have seen of late.  It will take a rise against BTC too for it to really shine, but once there are real signs the crypto winter is ending, Monero is well placed and has fared better than most in these tough times.

Monero is undeniably cheap at these levels. I think much lower in XMR/USD than the $50 mark is highly unlikely unless BTC is going to go under $3000, so it probably is a good time to buy (given XMR/BTC is as low as it's been for a few months against BTC, too).  

Aminorex is right to be cautious; calling the bear market over is a mug's game - but the possibility of a sharp move up is certainly real.

If we are following a 2013/2014 pattern again, as some say - then January next year should be the absolute low.  OK, history doesn't repeat itself exactly, but it often rhymes....  

I personally think the BTC (and therefore the whole crypto) bear market is bottoming and will be visibly over soon - by spring at the latest - which means the outlook for Monero is looking good.  But that is just my gut feeling, hopium-based guess.  

DYOR.


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December 01, 2018, 10:27:26 AM
 #39990

Back-Up-The-Truck, boyz??   LOL...  Grin

Maybe.  But... nahhh.  Not for me.  Not yet.

For most folks doing things gradually keeps risk closer to their tolerance.  You don't want to be chasing it up in the FOMO frenzy, so starting to nibble a bit early, and patiently enduring a tolerable drawdown should one occur, means you at least have some skin in if the correction takes you by surprise.  I think we are about half the fundamental PQ=MV price right now, so a correction seems inevitable, eventually, unless the dnm economy suddenly contracts to match.  I allocate a % of powder to limit bids increasing in size all down the book, and a % of disposable income to periodic buys, under such circumstances.  But yeah, the staircase has not confirmedly reversed yet.

so, Monero is oversold but we are not out of the woods yet...

I do agree it's less likely things can drop much further, but Monero will not be 'out of the woods' until Bitcoin is.  It's stating the obvious, but the behemoth that BTC is, in a market that is dominated by it, sets the tone... meaning any prediction of Monero's price (in USD terms) is heavily dependent on the BTC /USD market.

That said, assuming the bear market must end in BTC and that the end is more likely to be months, than years away now, then that will see Monero's USD price rise heavily from the lows we have seen of late.  It will take a rise against BTC too for it to really shine, but once there are real signs the crypto winter is ending, Monero is well placed and has fared better than most in these tough times.

Monero is undeniably cheap at these levels. I think much lower in XMR/USD than the $50 mark is highly unlikely unless BTC is going to go under $3000, so it probably is a good time to buy (given XMR/BTC is as low as it's been for a few months against BTC, too).  

Aminorex is right to be cautious; calling the bear market over is a mug's game - but the possibility of a sharp move up is certainly real.

If we are following a 2013/2014 pattern again, as some say - then January next year should be the absolute low.  OK, history doesn't repeat itself exactly, but it often rhymes....  

I personally think the BTC (and therefore the whole crypto) bear market is bottoming and will be visibly over soon - by spring at the latest - which means the outlook for Monero is looking good.  But that is just my gut feeling, hopium-based guess.  

DYOR.



History always repeats itself  Grin Wink Smiley

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December 01, 2018, 03:00:30 PM
 #39991

Back-Up-The-Truck, boyz??   LOL...  Grin

Maybe.  But... nahhh.  Not for me.  Not yet.

For most folks doing things gradually keeps risk closer to their tolerance.  You don't want to be chasing it up in the FOMO frenzy, so starting to nibble a bit early, and patiently enduring a tolerable drawdown should one occur, means you at least have some skin in if the correction takes you by surprise.  I think we are about half the fundamental PQ=MV price right now, so a correction seems inevitable, eventually, unless the dnm economy suddenly contracts to match.  I allocate a % of powder to limit bids increasing in size all down the book, and a % of disposable income to periodic buys, under such circumstances.  But yeah, the staircase has not confirmedly reversed yet.

so, Monero is oversold but we are not out of the woods yet...

Wait, Wat??? It can't be oversold, there's only 17 fucking million coins!

BTW, where have you been? Trying to grab some cheap coins to restock? Wink

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December 01, 2018, 03:29:08 PM
 #39992


I do agree it's less likely things can drop much further, but Monero will not be 'out of the woods' until Bitcoin is.  It's stating the obvious, but the behemoth that BTC is, in a market that is dominated by it, sets the tone... meaning any prediction of Monero's price (in USD terms) is heavily dependent on the BTC /USD market.

That said, assuming the bear market must end in BTC and that the end is more likely to be months, than years away now, then that will see Monero's USD price rise heavily from the lows we have seen of late.  It will take a rise against BTC too for it to really shine, but once there are real signs the crypto winter is ending, Monero is well placed and has fared better than most in these tough times.

Monero is undeniably cheap at these levels. I think much lower in XMR/USD than the $50 mark is highly unlikely unless BTC is going to go under $3000, so it probably is a good time to buy (given XMR/BTC is as low as it's been for a few months against BTC, too).  

Aminorex is right to be cautious; calling the bear market over is a mug's game - but the possibility of a sharp move up is certainly real.

If we are following a 2013/2014 pattern again, as some say - then January next year should be the absolute low.  OK, history doesn't repeat itself exactly, but it often rhymes....  

I personally think the BTC (and therefore the whole crypto) bear market is bottoming and will be visibly over soon - by spring at the latest - which means the outlook for Monero is looking good.  But that is just my gut feeling, hopium-based guess.  

DYOR.



I feel that is totally true as of right now, but what if there was an actually "flippining" period where XMR took over in market cap compared to BTC and it is all out there in the public by it being covered in the media, news stories or whatever.  BTC has already made headlines during the crazy bull market last year, but think of how much "click bait" journalism could be produced if Monero starts a bull run in the XMR/BTC market.  How many times could "experts" come on TV news and talk about this new and untraceable internet currency like Bitcoin that is being hailed by users on the 'dark web' as the 'new Bitcoin'.  

Yes, I understand that Bitcoin is a super fucking vital part to everything... but that's just right now.  I'm honestly not sold on the fact that if Bitcoin isn't #1 on the market cap list for ever and ever, that everything will come crashing down.

Edit: Oh, and I don't think that buying at these prices will pose as a problem for anyone, whether you buy here at $50, or catch the knife so perfectly that you caught the absolute very bottom of $32.69 in a couple months or so, or whatever the case may be, when you believe that xmr will be worth way more in the future.

I will refer to Pegasus to explain: https://www.youtube.com/watch?v=iEzNXzZy8e4


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"I just opened a 2004 barolo in your and all the devs honour"  eyejay:  Decemeber 22nd, 2016

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December 01, 2018, 04:31:42 PM
 #39993

Something weird happened to me yesterday. I told a buddy at the casino about monero and he jumped on his tablet and did a search for the price and first thing he did is start asking me about Zcrap. I'm not sure how he got there as I was distracted but it was almost immediate so it must have popped up on his initial search. I wonder if there is some fuckery going on.

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December 01, 2018, 05:45:14 PM
Last edit: December 01, 2018, 08:12:22 PM by Febo
 #39994

https://coinatmradar.com/bitcoin_atm/6356/bitcoin-atm-dobi-atm-tokyo-bit-point-japan-co-ltd/


I am not really sure if this ATM works, because sometimes there are listed coins here that are not really installed on the ATM. But if it works we got answer on how banned is Monero in Japan.

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December 01, 2018, 06:27:20 PM
Last edit: December 01, 2018, 06:57:34 PM by KeyJockey
 #39995


It's a good time to buy, methinks.  Recent events rang my cheap bell.


OMG the return of the legend... welcome back, brother!!

Lots of good posts in here, but this thread is not the same without aminorex and his monkey.

Heh... ook ook!!  🙉🙈🙊





Edit: Oh, and I don't think that buying at these prices will pose as a problem for anyone, whether you buy here at $50, or catch the knife so perfectly that you caught the absolute very bottom of $32.69 in a couple months or so, or whatever the case may be, when you believe that xmr will be worth way more in the future.



Yeah that's basically what I meant by saying I'd rather leave a little of the bottom on the table versus try to time it perfectly.

Plenty of upside to be realized more comfortably to the next true PEAK, even from as late as, say, the MIDDLE of the next up-slope... once it's very clearly gotten underway.

Meantime just MOAR POPCORN I guess  🍿  LOL

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December 01, 2018, 10:41:36 PM
Merited by lethos3 (1)
 #39996


I believe the power of Bitcoin and Monero (I see virtually NO other useful blockchain projects) will be stronger than the power of traditional finance.  And as the "big boys" pick it up to "fix" it, control, it etc they will be changed more than it is.


God I hope that is true, I believe it too BUT remains to be seen.

Been in a discussion lately with a good friend (only real world person I know who's also into crypto) and his confidence has been badly shaken by the speed and depth of this CryptoWinter period we're in now.

I still believe, however.

Question remains, you said "bitcoin and monero" and XMR of course but... WHICH "bitcoin"??

I think there are a few other possible worthy contenders too... DigiByte appears possibly the last genuine opportunity to buy ANY "real crypto" under a penny.

Oh, maybe even Doge too, LOL.

But not much else, really.  

Either it'll all fail or one of these, XMR BTC BCH DGB DOGE (any others?) -OR- something that does NOT EXIST yet... will prevail.

P.S. {Edit} Forgot left out Litecoin in there... only on the *theory* that MAYBE if BTC really becomes "gold for bankers" and $50 transaction fees to move $1 Million per coin, then little-brother LTC tags along becoming as the transaction-purpose coin.  This is the THEORY I believe Litecoiners cling to, but... anyone really believe it will actually play out this way???  I have no clue so don't attack me on it, just sayin'... LOL

When it comes to cryptowinter.  Yeah it's hard.  And this one has been soul crushing to me at times. And I do not think it is quite over.   I am a terrible trader, so I do not trade.  That is not why I am interested in BTC and XMR.  But look at my join date (not a brag... if only I was smart enough then to buy the 5000 BTC I considered buying on my porch when it was ~$2.).  I have seen several of these winters.

As to the "Which is the real BTC?".  I have an EXTREMELY strong option on this.  There is ONE Bitcoin.  And it is BTC.  We could go into the depth of reasons why, but it's not for this thread.  Craig Wright is a conman.  Ver is a troubled narcissistic idealist.  And for different reasons they have tried to wrestle the title of Bitcoin away from BTC and have created two centralized shitcoins and done great damage to the reputation of crypto.  Could I be wrong?  Sure... and I will pay dearly for it if I am.  My bet is where my belief is.

Here's the thing.  Decentralized, permissionless, censorship resistant money is either going to be successful or not.  If it is not then we have seen the peak.  It will never have another all time high.  BCHABC, BCHSV, XRP, ETH, ALL the ICOs, and virtually ALL the ALTS are *NOT* decentralized, permissionless, censorship resistant money.

But if it is successful then then I think next upswing (whether its in a month or 5 years) will be so shocking that the average public will not believe it.  The mechanics of the system and the unprecedented nature of this invention will cause a most breathtaking effect when they kick in.

And Monero is the only complimentary blockchain that *is* Decentralized, permissionless, censorship resistant money but offers something Bitcoin CANNOT.  That is an opaque blockchain.  Bitcoin will never do that.  Layer two can be as MimbleWimbled as they like...  but layer one will ALWAYS be transparent.

Monero also stands a chance of failure.  Moreso than bitcoin by an order of magnitude in my opinion.  But it also stands a chance to be a continued success in a way no other altcoin can even touch.

https://home.treasury.gov/news/press-releases/sm556



Monero offers something else that Bitcoin does not; namely an adaptive block weight and tail minimum emission that allows for scaling on the main chain. This lack of on chain scaling lies at the heart of the BCH split from XBT and the further split of BSV from BCH. When something as simple as increasing the transactions per second that a blockchain requires a a highly controversial and political hard fork it is hardly surprising to see the splits, wars and personality clashes we have in Bitcoin, Bitcoin Cash and Bitcoin Satoshi Vision.

On another note Bitcoin has already failed since it cannot meet the design purpose in the Satoshi paper namely a peer to peer cash like digital currency. This is primarily due to the fixed block size.

Edit: Litecoin has the same problem as Bitcoin with scaling; namely the fixed block size and falling lock reward.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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December 01, 2018, 11:36:52 PM
 #39997


It's literally oversold on the long time periods, the direction xmr is going is down and for quite a while already, just like most of the market. I risk calling the bottom at 50$, I had to buy.

I prefer bear markets, its when fortunes are made  Wink

Yup, just put another buy in myself. Funny thing is I am probally one of the only regulars that also prefers a bear due to getting caught with my pants down before alphabay. W00ps!

That left a big mark. Smiley

Bad timing has been my thing in life. Cheesy



Monero offers something else that Bitcoin does not; namely an adaptive block weight and tail minimum emission that allows for scaling on the main chain. This lack of on chain scaling lies at the heart of the BCH split from XBT and the further split of BSV from BCH. When something as simple as increasing the transactions per second that a blockchain requires a a highly controversial and political hard fork it is hardly surprising to see the splits, wars and personality clashes we have in Bitcoin, Bitcoin Cash and Bitcoin Satoshi Vision.

On another note Bitcoin has already failed since it cannot meet the design purpose in the Satoshi paper namely a peer to peer cash like digital currency. This is primarily due to the fixed block size.

Edit: Litecoin has the same problem as Bitcoin with scaling; namely the fixed block size and falling lock reward.

Can you ELI5 for us why the BTC codebase cannot adopt a dynamic blocksize?

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December 02, 2018, 03:31:03 AM
Merited by phishead (2), tokeweed (1)
 #39998


It's literally oversold on the long time periods, the direction xmr is going is down and for quite a while already, just like most of the market. I risk calling the bottom at 50$, I had to buy.

I prefer bear markets, its when fortunes are made  Wink

Yup, just put another buy in myself. Funny thing is I am probally one of the only regulars that also prefers a bear due to getting caught with my pants down before alphabay. W00ps!

That left a big mark. Smiley

Bad timing has been my thing in life. Cheesy



Monero offers something else that Bitcoin does not; namely an adaptive block weight and tail minimum emission that allows for scaling on the main chain. This lack of on chain scaling lies at the heart of the BCH split from XBT and the further split of BSV from BCH. When something as simple as increasing the transactions per second that a blockchain requires a a highly controversial and political hard fork it is hardly surprising to see the splits, wars and personality clashes we have in Bitcoin, Bitcoin Cash and Bitcoin Satoshi Vision.

On another note Bitcoin has already failed since it cannot meet the design purpose in the Satoshi paper namely a peer to peer cash like digital currency. This is primarily due to the fixed block size.

Edit: Litecoin has the same problem as Bitcoin with scaling; namely the fixed block size and falling lock reward.

Can you ELI5 for us why the BTC codebase cannot adopt a dynamic blocksize?

The dynamic blocksize in Monero has a cost - it uses more real world resources to process larger and larger blocksizes. Therefore, the monero protocol puts a throttle on this adaptation - if a miner wants to create a block that is greater than the median of the past 100 blocks, the miner has to sacrifice some of the block reward. So say the block reward is 3 XMR. If the miner goes over 20% in size, the block reward is reduced to something like, i dunno, 2.7 XMR. I forget the exact numbers. So the miner has to choose transactions that have enough fees that would push the total reward over 3 XMR even with the penalty.

Now, when monero finishes its primary emission, it has a tail emission. 0.6 XMR per block ( or 0.3 XMR per block minute, to keep in mind the case that we increase blocktime targets for whatever reason again). This tail emission keeps in place the ability to penalize blocksize expansion. Otherwise, if there's no way to penalize blocksize increases, miners would just grow the blocksize to get more fees.

So, IMO, its not really a BTC codebase issue, its a social covenant issue - that being that bitcion will only ever have 21 million coins. Its easy to put a tail emission in bitcoin code and make an adaptive blocksize possible.

Now, there are some that have conjectured that one could eat into the fees in the absence of a tail emission. I think the math on this doesn't work out, or it may screw with the game theory incentives. In any case, tail emission also provides continued and guaranteed rewards for mining, so it has the nice benefit of providing security to the blockchain regarding immutability in the long future. Not a single cryptocurrency exists today that is secured by a fee market. Granted, 15 years ago, not a single cryptocurrency existed. Bitcoin is a grand experiment to see if a cryptocurrency network ( a new form of money ) can be bootstrapped. Thats phase 1. Phase 2, the existence of that network / money with only network fees, in the absence of any bootstrapping, is still an experiment that has not been performed. 

Basically, the blockreward can be seen like a set of training wheels that keeps bitcoin up and running.

Long ago it was decided that Monero would take an alternative route, wherein having those wheels available to prevent the bicycle from falling over is good, and the tradeoff of having an infinite supply of monero is acceptable.

Tiny wheels, tiny infinity.


< Track your bitcoins! > < Track them again! > <<< [url=https://www.reddit.com/r/Bitcoin/comments/1qomqt/what_a_landmark_legal_case_from_mid1700s_scotland/] What is fungibility? >>> 46P88uZ4edEgsk7iKQUGu2FUDYcdHm2HtLFiGLp1inG4e4f9PTb4mbHWYWFZGYUeQidJ8hFym2WUmWc p34X8HHmFS2LXJkf <<< Free subdomains at moneroworld.com!! >>> <<< If you don't want to run your own node, point your wallet to node.moneroworld.com, and get connected to a random node! @@@@ FUCK ALL THE PROFITEERS! PROOF OF WORK OR ITS A SCAM !!! @@@@
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December 02, 2018, 05:17:22 AM
 #39999


It's literally oversold on the long time periods, the direction xmr is going is down and for quite a while already, just like most of the market. I risk calling the bottom at 50$, I had to buy.

I prefer bear markets, its when fortunes are made  Wink

Yup, just put another buy in myself. Funny thing is I am probally one of the only regulars that also prefers a bear due to getting caught with my pants down before alphabay. W00ps!

That left a big mark. Smiley

Bad timing has been my thing in life. Cheesy



Monero offers something else that Bitcoin does not; namely an adaptive block weight and tail minimum emission that allows for scaling on the main chain. This lack of on chain scaling lies at the heart of the BCH split from XBT and the further split of BSV from BCH. When something as simple as increasing the transactions per second that a blockchain requires a a highly controversial and political hard fork it is hardly surprising to see the splits, wars and personality clashes we have in Bitcoin, Bitcoin Cash and Bitcoin Satoshi Vision.

On another note Bitcoin has already failed since it cannot meet the design purpose in the Satoshi paper namely a peer to peer cash like digital currency. This is primarily due to the fixed block size.

Edit: Litecoin has the same problem as Bitcoin with scaling; namely the fixed block size and falling lock reward.

Can you ELI5 for us why the BTC codebase cannot adopt a dynamic blocksize?

The dynamic blocksize in Monero has a cost - it uses more real world resources to process larger and larger blocksizes. Therefore, the monero protocol puts a throttle on this adaptation - if a miner wants to create a block that is greater than the median of the past 100 blocks, the miner has to sacrifice some of the block reward. So say the block reward is 3 XMR. If the miner goes over 20% in size, the block reward is reduced to something like, i dunno, 2.7 XMR. I forget the exact numbers. So the miner has to choose transactions that have enough fees that would push the total reward over 3 XMR even with the penalty.

Now, when monero finishes its primary emission, it has a tail emission. 0.6 XMR per block ( or 0.3 XMR per block minute, to keep in mind the case that we increase blocktime targets for whatever reason again). This tail emission keeps in place the ability to penalize blocksize expansion. Otherwise, if there's no way to penalize blocksize increases, miners would just grow the blocksize to get more fees.

So, IMO, its not really a BTC codebase issue, its a social covenant issue - that being that bitcion will only ever have 21 million coins. Its easy to put a tail emission in bitcoin code and make an adaptive blocksize possible.

Now, there are some that have conjectured that one could eat into the fees in the absence of a tail emission. I think the math on this doesn't work out, or it may screw with the game theory incentives. In any case, tail emission also provides continued and guaranteed rewards for mining, so it has the nice benefit of providing security to the blockchain regarding immutability in the long future. Not a single cryptocurrency exists today that is secured by a fee market. Granted, 15 years ago, not a single cryptocurrency existed. Bitcoin is a grand experiment to see if a cryptocurrency network ( a new form of money ) can be bootstrapped. Thats phase 1. Phase 2, the existence of that network / money with only network fees, in the absence of any bootstrapping, is still an experiment that has not been performed. 

Basically, the blockreward can be seen like a set of training wheels that keeps bitcoin up and running.

Long ago it was decided that Monero would take an alternative route, wherein having those wheels available to prevent the bicycle from falling over is good, and the tradeoff of having an infinite supply of monero is acceptable.

Tiny wheels, tiny infinity.



Thanks for the lengthily reply Ginger. So basically the answer is nothing but the lack of a consensus to adapt an emission. I have heard people mention that there is a game theory behind this but have never had that explained, could you give that a shot?

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December 02, 2018, 11:22:52 AM
Merited by lethos3 (1)
 #40000


Can you ELI5 for us why the BTC codebase cannot adopt a dynamic blocksize?


Bitcoin ABC literally stands for “Adjustable Blocksize Cap”, but the miners set the cap not an algorithm like in Monero, I have not read any convincing argument against dynamic blocksizes as given enough demand over time the blocksize cap will increase, I think they don't adopt it for the same reason stealth addresses are still not adopted even while completely possible with the Bitcoin codebase, they would be admitting defeat against the Cryptonote codebase, then why not just use Monero?

Why would they implement stealth addresses in bitcoin, then they would not be able to track you


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