I include the three month transactions per day chart from BitInfoCharts.com https://bitinfocharts.com/comparison/transactions-btc-bch-xmr.html#log&3m
There are notable peaks in transaction activity in early to mid December, and echo peak on December 19th. The low is December 25th as expected. The BCH data supports the XMR data. The is no determinable change for Bitcoin but also other altcoins. The latter can be added to the BitInfoCharts.com chart.
I see this as growing evidence of the use of Monero for the purchase of holiday gifts, which in turn is indicative of growing retail use. There may be some evidence that this market is also shifting from Bitcoin Cash to Monero. There is of course a very significant base of non retail transactions as can be seen from the December 25th figures. VISA has in the past shown a 16x surge due to holiday shopping peaking around December 23rd. This may now be dampened also by the move from in-person to online shopping. The latter requires an allowance for shipping time.
Understanding this holiday shopping surge is very important for the design of Monero's scaling, since if Monero's transactions become dominated by its use for retail transactions, one of its primary purposes in my view, one has to allow for at least a 16x surge in the blocksize to accommodate holiday shopping demand.
Total December sales volume was about 30% higher than November sales volume, if that helps :)
What would really be helpful is the ratio of the total sales volume for each of the 5 highest days of December to the average sales volume for all of 2022. What I am trying to get a handle on is the peak increase in TPS during the holiday shopping season. The 16x figure I mentioned above is based upon VISA's statistics and some of their press releases.
Edit: I am only interested in ratios not absolutes. This is to estimate the amount of burst required for the Monero TPS to accommodate holiday shopping.
How long will transactions stay in the mempool? Can transactions sit there for days to help flatten the peaks?
I do not see this as a good customer service. You buy a last minute present on December 23rd and the store tells you cannot pick it up until December 28th because we have to wait until the payment clears the Monero network
There is a reason why VISA has a stress test at ~25x their average over a year TPS. In this respect we are no different.
Load more comments
... but only within India. Are international payments allowed? I seriously doubt it. India has strict exchange controls.
The real advantage for crypto payments is for international payments. Try using a card payment for an international cross currency transaction and then track the hidden fees and charges. For example ~5% surcharge on the exchange rate, followed by an international transaction surcharge to the merchant. Regulating the fees charged to merchants by the card companies as is the case in the EU does not work for international payments. If I use my Canadian credit card in the EU, I end up directly or indirectly paying more than the Canadian GST on top of the EU VAT on a retail purchase. This "GST" is solely due to extra fees charged by the card companies.
Edit: There is also the risk of spreading viruses such as COVID-19 via the chip and pin machines used by merchants https://www.cbc.ca/news/marketplace/marketplace-supermarket-germs-1.5778492
Yes but the real question becomes do they have enough XMR, BCH, DOGE, LTC, ... ?
Oh god dammit here we go again. I enjoy jumping into these small politicians to see what else they support so we know what is also on the table especially come election time.
anti abortion except when the mother would die
some really insensitive quotes about abortion in cases of rape
wants to repeal the Affordable Care Act (Obamacare). Proposed some interesting HSA changes but not worthwhile to go into detail as it doesn’t make up for the number of people losing ACA.
voted against giving commendations to Capitol police after January 6th
To give him some credit, there’s a lot of interesting stances on privacy and digital security. Comes off very pro-individual/privacy (not pro gov).
Some consistency in these stances is nice BUT what undercuts this for me he doesn’t support in increasing funding for these agencies so IMO this is a neutral point.
anti abortion except when the mother would die
The Elizabeth Warren bill is far worse: How about: Frame a woman seeking an abortion as a criminal and / or terrorist. If she pays for the abortion with Bitcoin all one needs to do is hack the abortion clinic, steal the BTC and transfer the keys to a criminal or terrorist. The blockchain surveillance (BS) companies will take care of the rest. The woman is swatted on the blockchain.
Edit: Preventing this kind of swatting attack is one of the reasons why privacy coins such as Monero are so important. Elizabeth Warren's bill is a direct attack on privacy, that will enable such swatting.
Edit: After one spends a Bitcoin one has no control on how it is subsequently spent. This is just like cash. So for example if one spends cash legally as an innocent law abiding citizen, in this case the woman seeking an abortion, and that particular bill or coin is subsequently used for a criminal or terrorist purpose the taint cannot be traced back to her. With Bitcoin the BS companies can trace the taint back to the woman and falsely accuse her. The solution is to use a privacy protecting currency such as Monero, which cannot be traced, this breaks BS, creates a situation like cash and prevents the woman from being falsely accused. Elizabeth Warren's bill is designed to severely restrict the use of a use a privacy protecting currency such as Monero, in order to ensure that the woman can be falsely accused by the BS companies.
When we read the fine print, I can almost guarantee that theres going to be something shady buried in the bill.
The whole bill is very shady.
Load more comments
Not wrong it's been proven. I suggest you look into Ciphertrace.
The blockchain surveillance (BS) companies cannot reliably deal with the plausible deniability in Bitcoin. In fact the number of BS false positives and BS false negatives in Bitcoin is a closely guarded secret. So I find it very hard to believe they even have a hope when it comes to Monero.
Here Ciphertrace's analysis of the last Monero hard fork. https://ciphertrace.com/heads-up-monero-v15-hard-fork-update/ The get a few things really wrong such as the date and the introduction of the tail emission.
The following statement is hard to dispute though:
While Monero’s upcoming chain improvements are significant, the fundamentals of our approach to tracing probable source of funds will still apply after the fork.
Probable my emphasis. There is of course a finite probability to getting hit by lighting among other examples.
Of course BCH is more scalable (assuming the 32M will lifted by the future BCH community).
... (assuming the 32M will lifted by the future BCH community)
That is the 21 million BCH question.
By the way Monero's adaptive blocksize and scaling only works because of the minimum or tail emission. If the block rewards were allowed to fall as BTC / BCH / BSV etc. it would only be a matter of time before Monero would be spam bloated into oblivion.
Edit: For clarification the falling block rewards in BTC / BCH / BSV etc. is the real reason for my comment:
Forget about privacy, I will take Monero over any of the Bitcoin variants, BTC, BCH, BSV etc.on scalabilty alone any day.
My biggest problem with Monero right now is scalability
Why?.
Monero has an adaptive blocksize with no hard cap. Yes a typical Monero tx is ~5x - 6x, but that is more than counterbalanced by for example Nielsen's Law. https://www.nngroup.com/articles/law-of-bandwidth/ By the way extrapolating back to the Bitcoin Whitepaper in 2008 1 MB then is like 300 MB today.
Forget about privacy, I will take Monero over any of the Bitcoin variants, BTC, BCH, BSV etc.on scalabilty.alone any day.
Checks out. How easy is it to mine Monero with a standard GPU?
Not a good idea if one is paying the full cost of electricity and wasting the heat produced. On the other hand if one has unused GPUs lying around and the heat produced is used to hear a home or business, then it can make sense to mine Monero with a GPU in order to get a rebate on one's heating costs. The math is simple:
How much heat will the GPUs produce in kWh?
What is the cost of the electricity to run the GPUs? in kWh?
The kWh in 1) and 2) are the same
3) What the cost of providing the same kWh of heat by other means in 2). This needs to include environmental externalities.
4) What is the value of the XMR produced at the time it is mined?
if 3) > [ 2) - 4)] then it makes sense to mine with GPUs
I see a real issue here with credit card reversals for a payment processor providing this kind of service since Monero payments cannot be reversed,
If someone claims they can provide this kind of service, without a very strict financial and credit qualification, I would be very skeptical.
Edit: Essentially the business has to have enough credit to cover any potential charge backs on the credit card side.
ArticMine
u/ArticMine · 7yKarma
Cake day
Trophy Case (4)
Six-Year Club
Gilding I
gilder
