TrueCryptonaire
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Activity: 1092
Merit: 1000
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October 20, 2014, 01:30:50 PM |
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Almost all Monero will be mined in 3 years. "Almost all" is misleading (it sounds to me like 99% or something, and down to just a maintenance reward or none at all). The actual number I've seen is something like 85% in 4 years, which means even if 4+ years there will be significant mining. The current proposal for a maintenance reward doesn't kick in for around 10 years or so. So if initial distribution in mining matters. It matters more now in early adoption when the release schedule is trying to drive adoption than it does in 3 years
That depends on the future value, which is impossible to know. Bitcoin rewards were cut in half, yet the value of a block (and of all mining) now is vastly higher than it was 2+ years ago. In fact another way to look at the schedule of mining rewards would be to attach a current value at the time they are mined. By that measurement Bitcoin is much less than 60% mined or whatever the current number is assuming constant-value BTC. I am worried if the transaction fee is not high enough in 4 years time, will miner still serve the network? No, unless the price skyrockets. Also high fees makes people avoid transacting with xmr. So we need a slow emission of coins for many years. In the mean time, we find usage for the coin and build a strong community. Hopefully, when the emission is low, there will be enough transactions to sustain the network. Exactly. Slow emission combined with building up services around the coin will drive the coin to bullish trend. The bullish trend attracts new adoption. New adoption generates more services and thus the positive circle has kicked in. The other alternative, which we have now, is a group of apathetic and poorer bagholders and zero or declining adaption rate. There is no point and reason to support this high emission rate currently. If there will be more adaption, there are whales and earlier adopters willing to sell their coins to noobs. I would see a drastic cut in emission - perhaps even as drastic as dividing the next 4 years supply by 40-50 years. Then Monero has some chances to survive. Currently 1000-2000 new coins on daily basis is just enough. Not more is needed. |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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UnicornFarts
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October 20, 2014, 03:34:50 PM |
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Just saw the buy support vs sell support on poloniex  |
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binaryFate
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Activity: 1484
Merit: 1003
Still wild and free
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October 20, 2014, 03:51:49 PM |
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Just saw the buy support vs sell support on poloniex What is there to see? And what's funny? I don't get it... |
Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. This makes Monero a better candidate to deserve the term "digital cash".
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dEBRUYNE
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Activity: 2268
Merit: 1141
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October 20, 2014, 05:53:51 PM |
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Just saw the buy support vs sell support on poloniex Since most non-tech users have a hard time to set up the current monero wallet, they leave their XMR on the exchange. Bid/ask hardly says anything, walls could vanish when the price comes near. On top of that, you never now what's on the side ready for buying when they feel like it. |
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statdude
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Activity: 1498
Merit: 1000
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October 20, 2014, 05:55:07 PM |
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Selling my 5000 XMR mintpal account .
PM offers or skype me: thestatdude
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rdnkjdi
Legendary
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Activity: 1256
Merit: 1009
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October 20, 2014, 05:55:57 PM |
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Selling my 5000 XMR mintpal account .
PM offers or skype me: thestatdude
Man I'm sorry. They said XMR withdrawels would resume soon ... |
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Its About Sharing
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Activity: 1442
Merit: 1000
Antifragile
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October 20, 2014, 06:51:21 PM |
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Mintpal said that Ryan has control of the funds. But this sounds like money to me and not all tokens. I do believe they sent out some tokens, not BTC though... A decent chunk of money for me is there. I honestly would never have put the funds there if I had been able to get the wallet installed on my MAC but it has been a headache for me. Then again, I would have bought more XMR had I been able to install the wallet (and the price has gone down since then)... Looking forward to the GUI (with .dmg installation ) |
BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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dEBRUYNE
Legendary
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Activity: 2268
Merit: 1141
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October 20, 2014, 07:05:42 PM |
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Mintpal said that Ryan has control of the funds. But this sounds like money to me and not all tokens. I do believe they sent out some tokens, not BTC though... A decent chunk of money for me is there. I honestly would never have put the funds there if I had been able to get the wallet installed on my MAC but it has been a headache for me. Then again, I would have bought more XMR had I been able to install the wallet (and the price has gone down since then)... Looking forward to the GUI (with .dmg installation ) Sad to hear that, but why did you choose for mintpal instead of poloniex? Liquidity of poloniex is ten times better.. I agree that installing the current wallet is a real pain in the ass. But hopefully tonights missives will bring some updates! |
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rdnkjdi
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Activity: 1256
Merit: 1009
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October 20, 2014, 09:06:53 PM |
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any idea of how many xmr on mintpal?
I think there are several altcoins being dumped and I'm wondering if it's from he same source ...
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Come-In-Behind
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October 20, 2014, 09:08:25 PM |
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"We do not know Ryan's current location, and he is unfortunately the only one with access to customer funds." - Mintpal, twitter. https://twitter.com/MintPalExchange/status/523939006988701696Ryan is probably on the run/cashing out. This is disgusting, everyone at Moolah.io needs to be prosecuted to the highest extent, I'm sure the other members knew better than to allow 1 guy access to the customer funds...They're probably all in on it. |
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dEBRUYNE
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Activity: 2268
Merit: 1141
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October 20, 2014, 09:21:41 PM |
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any idea of how many xmr on mintpal?
I think there are several altcoins being dumped and I'm wondering if it's from he same source ...
I wouldn't be suprised if it was a fairly large amount (something like 50-100k). |
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luigi1111
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Activity: 1105
Merit: 1000
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October 20, 2014, 09:52:09 PM |
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"We do not know Ryan's current location, and he is unfortunately the only one with access to customer funds." - Mintpal, twitter. https://twitter.com/MintPalExchange/status/523939006988701696Ryan is probably on the run/cashing out. This is disgusting, everyone at Moolah.io needs to be prosecuted to the highest extent, I'm sure the other members knew better than to allow 1 guy access to the customer funds...They're probably all in on it. Very hard to just take people at their word on the internet, but this definitely presents an alternate viewpoint: http://pastebin.com/VYpQ5CWA |
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rdnkjdi
Legendary
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Activity: 1256
Merit: 1009
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October 20, 2014, 10:46:10 PM |
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"We do not know Ryan's current location, and he is unfortunately the only one with access to customer funds." - Mintpal, twitter. https://twitter.com/MintPalExchange/status/523939006988701696Ryan is probably on the run/cashing out. This is disgusting, everyone at Moolah.io needs to be prosecuted to the highest extent, I'm sure the other members knew better than to allow 1 guy access to the customer funds...They're probably all in on it. Very hard to just take people at their word on the internet, but this definitely presents an alternate viewpoint: http://pastebin.com/VYpQ5CWAThe thing I don't get is. How did Mintpals owners agree to sell mintpal to a shady character who was using stolen credit cards to host servers? Say he used the money from the IPOs and mintpal sold for 750btc or whatever. Why the hell was he using stolen credit cards to access his Web hosting servers if he had access to money? If everything hinged on him getting access to those servers then why would he have risked pirated credit cards? |
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statdude
Legendary
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Activity: 1498
Merit: 1000
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October 20, 2014, 10:50:40 PM |
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Mintpal said that Ryan has control of the funds. But this sounds like money to me and not all tokens. I do believe they sent out some tokens, not BTC though... A decent chunk of money for me is there. I honestly would never have put the funds there if I had been able to get the wallet installed on my MAC but it has been a headache for me. Then again, I would have bought more XMR had I been able to install the wallet (and the price has gone down since then)... Looking forward to the GUI (with .dmg installation ) Sad to hear that, but why did you choose for mintpal instead of poloniex? Liquidity of poloniex is ten times better.. I agree that installing the current wallet is a real pain in the ass. But hopefully tonights missives will bring some updates! Yeah, the irony is i literally put that on mintpal as a hedge to poloniex scamming/shutting down, i never once traded there, thought V1 sucked. I did withdraw about 1,000 to HITbtc right before V2 and thought about moving the whole wad. Oh well, i knew better than to leave any coin on ANY fucking site. XMR was the only one i left anywhere because all the explanations to backup to paper wallet were quite technical and I hadn't set aside time to figure it out yet (but was planning to). Trust me, I'll be moving the rest of my XMR off-line tonight. |
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saddambitcoin
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Activity: 1610
Merit: 1004
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October 20, 2014, 10:52:36 PM |
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"We do not know Ryan's current location, and he is unfortunately the only one with access to customer funds." - Mintpal, twitter. https://twitter.com/MintPalExchange/status/523939006988701696Ryan is probably on the run/cashing out. This is disgusting, everyone at Moolah.io needs to be prosecuted to the highest extent, I'm sure the other members knew better than to allow 1 guy access to the customer funds...They're probably all in on it. Very hard to just take people at their word on the internet, but this definitely presents an alternate viewpoint: http://pastebin.com/VYpQ5CWAThe thing I don't get is. How did Mintpals owners agree to sell mintpal to a shady character who was using stolen credit cards to host servers? Say he used the money from the IPOs and mintpal sold for 750btc or whatever. Why the hell was he using stolen credit cards to access his Web hosting servers if he had access to money? If everything hinged on him getting access to those servers then why would he have risked pirated credit cards? Perhaps they were not stolen CCs, but prepaid debit cards that had run out of value. |
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rdnkjdi
Legendary
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Activity: 1256
Merit: 1009
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October 20, 2014, 11:46:18 PM |
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Dotto
Legendary
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Activity: 981
Merit: 1005
No maps for these territories
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October 21, 2014, 09:41:58 AM |
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"We do not know Ryan's current location, and he is unfortunately the only one with access to customer funds." - Mintpal, twitter. https://twitter.com/MintPalExchange/status/523939006988701696Ryan is probably on the run/cashing out. This is disgusting, everyone at Moolah.io needs to be prosecuted to the highest extent, I'm sure the other members knew better than to allow 1 guy access to the customer funds...They're probably all in on it. Very hard to just take people at their word on the internet, but this definitely presents an alternate viewpoint: http://pastebin.com/VYpQ5CWATLTR; Can someone summarice this? |
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