/biz/ - Business & Finance

>>5544241
Move your gains into XLM.
Thank me later.

>>5544241
Patience. Let Bitcoin be the one who suffers. It’s struggling for dear life, and its solutions will be applicable to Monero

I'm a hairy miner with a hard hat and a sweaty groin. We needs to feed our young uns'.

>>5544298
One of the solutions is mimble wimble

>>5544241
Use Sumokoin.

It’s going to overtake Monero.

>>5544241
The fees will drop a lot by then, however, it's important to remember that anonymity is not cheap. It is very important, life and death in many cases. This coin is so under priced at the moment, 2018 will see Monero be regarded as a top 3 coin.

>>5544451
This is the most retarded FUD. Please stop shilling this pathetic Monero ripoff, Ranjit. Nothing named Sumokoin will ever overtake anything other than the title for "Gayest Name in history of Gay Crypto Names."

>>5544451
is that that faggot S that everyone draws in middle school? kek.

>>5544590
Keep paying your 20$ fees pleb.

>>5544666
>Keep holding the best privacy coin while I hold this Pajeet one.
Okay.

>>5544687
>up 50% today

I will.

>>5544719
>down 50% tomorrow

Hope you sell the top.

>>5544796

I’ll take my chances.

>>5544241
.00311374 at $350 comes to $1.09

Literally what is the problem? And they're going to be cut down by a factor of 10 soon too.

>>5544666
see
>>5544876

Please explain how we're paying $20 fees.

>>5544876
Wallet can set any fee, who knows if miners will accept it.

>>5545105
I didn't set that fee, that's the fee generated by the unimportant priority mode. And it works just fine.

>>5545105
You do realize this wont be an issue until monero has over 1000 transactions a second, right? The problem you speak of is with bitcoins 4 transactions a second MAXIMUM.

>>5545105
every transaction gets processed once a block is found, even very low fees hardly ever need 2 blocks

>>5545105
I send all my transactions with a 0.25% fee, they all arrive and start confirming within 5 minutes. Get fucked, pajeet.

>>5545342
I just checked normal and elevated fees, they came out as 0.01245496 and 0.0622748. Or, $4.36 and $21.80.

There is no fucking way that elevated is required to get your Tx processed so $4.36 is the absolute highest you should have to pay right now. But I still believe unimportant, $1.09, works just fine (at least for now).

I didn't check priority but it should come out to 0.44837856, or $156.93.

>>5544876
>ver, it's important to remember that anonymity is not cheap. It is very important, life and death in many cases. This coin is so under priced at the moment, 2018 will see Monero be regarded as a top 3 coin.
>>>
>Anonymous (ID: OaIN9j8d) 12/28/17(Thu)12:15:57 No.5544590▶>>5544666
> >>5544451
> This is the most retarded FUD. Please stop shilling this pathetic Monero ripoff, Ranjit. Nothing named Sumokoin will ever overtake anything other than the title for "Gayest Name in history of Gay Crypto Names."
>>>

they are fuding man. Post shit. OR they think exchanges costs to send their xmr to wallet is xmrs fault and not the excahnges rate

>>5545575
Whoops, fucked what I expect priority to be. It should be 0.51688084, or $180.90.

Fees are x1, x4, x20, and x166 for unimportant, normal, elevated, priority.

>>5545613
>they are fuding man
Yeah I know, but I don't want lazy people being scammed by them.

>>5544411
checked

Exchanges are heavily over charging users for Monero withdrawal fees. If you send from the gui wallet fees are only a buck or two, and are about to be reduced by 80%

>>5545647
Gotta wonder who the fuck is paying priority.

Like, is an IRS team literally breaking down your door? Is the DEA stacking up outside your grow-op?

Am I fucking up by mining only monero to mining pool hub using xmr stak

it seems to be very cost effective but I worry about monero being more of a bagholding coin than an exchange coin

Transaction fee is only 0.003 XMR unless you are literally retarded or a pajeet.

>>5545714
The IRS wouldn't affect your priority decision. The only time priority matters is when the person on the other end needs to receive the coins NOW. If it's you to you I can't imagine a scenario in which this would be the case.

>>5545714
Maybe for moving onto an exchange to quickly catch a trade.

>>5545647
This fee structure sounds a lot like bitcoin, I'm not so sure I'm a fan of buying up for faster transactions. However if all transactions no matter priority don't sit in a mempool for hours I don't think its much of an issue. Will Monero face the same problems as bitcoin? I know it has an adaptive blocksize, but this still concerns me.

>>5545777
Yeah this would be one of the few cases. But that trade better be fucking huge if you're gonna pay $150 to do it.

Although, when moving to an exchange the real issue isn't the blockchain confirmation but the exchange confirming the confirmation. I've made transactions before that were well and truly cleared while the exchange site still said they were only half confirmed. So I'm not sure it'd even be worth the priority transfer.

>>5545708
Yeah it's fucking stupid. Not sure why they're doing it or what we can do about it. They clearly aren't sending at elevated priority because that's 0.0622 and their fee is 0.04, and the next step down is 0.01245 so at best they're still ripping you off by like 66%. And if they're sending at unimportant..well...

>>5545844
>Will Monero face the same problems as bitcoin? I know it has an adaptive blocksize, but this still concerns me.
With bulletproofs coming in its pretty doubtful we'll ever be in a similar situation to Bitcoin. Tx sizes are being cut down significantly.

>>5546015
I should hope so because its fucking over the mining pools

>>5546039
Monero is over saturated with miners at this point anyway.

Unless I'm understanding it wrong, the difficulty increased because of additional miners right? There was no real reason it had to go up.

>>5546065
In theory but in practice it shouldn't have gone up that much because most miners just mine monero and immediate exchange it on miningpoolhub or something like that

the real issue is with low adoption

>>5545708
Exchanges don't want to deal with people bullshit. They need a way to set your own price with a disclaimer.
>note don't use this if you're a fucking retard.

>>5546281
If you mean they do it to avoid people using too low a fee and JUSTing themselves, sure, a custom field with a warning would be nice.

But it doesn't explain the 0.04 number, at all. See >>5545961

>>5546338
I know bitcoin cash has a fee of 1 satoshi yet some exchanges charge 30+ cents one even 3 dollars.