Bitcoin Forum

This thread is to host a community-built FAQ for Monero [XMR].

Post questions and answers in new replies and we'll edit them into the FAQ.

Controversial changes will be held back in a separate controversial section until there is reasonable consensus.


Resources
CryptoNote whitepaper (https://cryptonote.org/whitepaper.pdf) • CryptoNote whitepaper (annotated) (http://monero.cc/downloads/whitepaper_annotated.pdf) • CryptoNote whitepaper review (http://monero.cc/downloads/whitepaper_review.pdf)
CryptoNote offical site (https://cryptonote.org/) • Monero official site (http://monero.cc/)
Monero ANN-thread (https://bitcointalk.org/index.php?topic=583449.0)
Monero Twitter (https://twitter.com/monerocurrency) • Monero Facebook (https://www.facebook.com/monerocurrency) • Monero Google+ (https://plus.google.com/101861896996947433029/posts)


Monero FAQ (collaborative draft)

Official software, wallets, etc.
Where is the official Monero thread? (https://bitcointalk.org/index.php?topic=721045.msg8144444#msg8144444)

Installing Monero
What are the minimum requirements for a computer to run the wallet? (https://bitcointalk.org/index.php?topic=721045.msg8144496#msg8144496)
How do I use Monero with 32-bit Windows? (https://bitcointalk.org/index.php?topic=721045.msg8144570#msg8144570)
What are the best installation instructions to use, where do I get more information, etc.? (https://bitcointalk.org/index.php?topic=721045.msg8144626#msg8144626)
Why is Monero not user friendly like most other cryptocurrencies? Why is there no official GUI wallet? (https://bitcointalk.org/index.php?topic=721045.msg8144706#msg8144706)
Where is the GUI wallet ? (https://bitcointalk.org/index.php?topic=721045.msg8144726#msg8144726)
Do I have to run a full node to keep a personal/offline wallet? (https://bitcointalk.org/index.php?topic=721045.msg8144871#msg8144871)

Using Monero
Can I have multiple Monero addresses in my local node? (https://bitcointalk.org/index.php?topic=721045.msg8148491#msg8148491)
How do I use the view key? (https://bitcointalk.org/index.php?topic=721045.msg8148504#msg8148504)
How do I generate a new wallet address for a transaction, like in Bitcoin? (https://bitcointalk.org/index.php?topic=721045.msg8148522#msg8148522)
How long does it take to send a transaction? (https://bitcointalk.org/index.php?topic=721045.msg8148526#msg8148526)
I've heard that mixins can be unmasked if outputs are spent with mixin=0. Is this true? (https://bitcointalk.org/index.php?topic=721045.msg8148573#msg8148573)
Why are some of my coins locked? Why does it takes so long to unlock them? (https://bitcointalk.org/index.php?topic=721045.msg8148906#msg8148906)
How do I check my simplewallet log file? (https://bitcointalk.org/index.php?topic=721045.msg9761280#msg9761280)
What is openalias? How does it work? (https://bitcointalk.org/index.php?topic=721045.msg9762785#msg9762785)
Is there a webwallet for Monero? What is MyMonero? (https://bitcointalk.org/index.php?topic=721045.msg9766554#msg9766554)
How to use a remote node? (https://bitcointalk.org/index.php?topic=721045.msg9964408#msg9964408)

Protecting my moneroj
How do I set up a paper wallet/cold storage? (https://bitcointalk.org/index.php?topic=721045.msg8584324#msg8584324)
How to backup my wallet? (https://bitcointalk.org/index.php?topic=721045.msg8588771#msg8588771)
I can't access my wallet! Help! (https://bitcointalk.org/index.php?topic=721045.msg8148510#msg8148510)
How do I change my wallet password/name? (https://bitcointalk.org/index.php?topic=721045.msg8148516#msg8148516)
Can someone peer into my account without my consent? (https://bitcointalk.org/index.php?topic=721045.msg8148948#msg8148948)
Isn't the mnemonic seed and the inability to change the words security holes? (https://bitcointalk.org/index.php?topic=721045.msg9812760#msg9812760)
Any strategy for protecting my moneroj? (https://bitcointalk.org/index.php?topic=721045.msg9934389#msg9934389)

Troubleshooting
When trying to send coins I get an error stating that transaction is too large. (https://bitcointalk.org/index.php?topic=721045.msg8144674#msg8144674)
I can't send XMR because simplewallet or bitmonerod reports something like 'failed to send..." How do I solve this? (https://bitcointalk.org/index.php?topic=721045.msg8148544#msg8148544)
I have a "what=invalid signature", "Failed to init config" or "Failed to initialize p2p server" error (https://bitcointalk.org/index.php?topic=721045.msg8567667#msg8567667)
Monero blockchain uses too much RAM, is filling up my hard drive, etc. / What's up with all the bloat? (https://bitcointalk.org/index.php?topic=721045.msg8148501#msg8148501)

Development team
Who are the official core team members? (https://bitcointalk.org/index.php?topic=721045.msg8148578#msg8148578)
Monero dev team seems to be too sluggish, does not? (https://bitcointalk.org/index.php?topic=721045.msg8148583#msg8148583)
How can I help/donate/contribute? (https://bitcointalk.org/index.php?topic=721045.msg8149755#msg8149755)
What is MEW? (https://bitcointalk.org/index.php?topic=721045.msg9010346#msg9010346)
Are the devs paid? (https://bitcointalk.org/index.php?topic=721045.msg9761531#msg9761531)

Exchanges
What on earth are these 'PaymentIDs' I keep hearing about? (https://bitcointalk.org/index.php?topic=721045.msg8148586#msg8148586)
I have send to an exchange without using the payment id? What do I do now? (https://bitcointalk.org/index.php?topic=721045.msg8148594#msg8148594)

Price speculation
Dedicated thread: Monero speculation (https://bitcointalk.org/index.php?topic=753252)
Why is the price going up? (https://bitcointalk.org/index.php?topic=721045.msg8148597#msg8148597)
Why is the price going down? (https://bitcointalk.org/index.php?topic=721045.msg8148615#msg8148615)
Will the price go back up? (https://bitcointalk.org/index.php?topic=721045.msg8148619#msg8148619)

Mining/Pools
Can I mine directly to my exchange address, or do I need to setup a local wallet? (https://bitcointalk.org/index.php?topic=721045.msg8148621#msg8148621)
Anything to do with pools ; Connectivity, payouts etc. (https://bitcointalk.org/index.php?topic=721045.msg8148624#msg8148624)
I'm mining with 'x' hashes/second. How much can I mine per day? (https://bitcointalk.org/index.php?topic=721045.msg8148684#msg8148684)

Others
Was Monero pre-mined? (https://bitcointalk.org/index.php?topic=721045.msg8150095#msg8150095)
Is Monero illegal? (https://bitcointalk.org/index.php?topic=721045.msg8150199#msg8150199)
Can the cryptography behind Monero be broken? (https://bitcointalk.org/index.php?topic=721045.msg8149938#msg8149938)
Can we get some charts, stats and indicators? Emission curve, hashrate, difficulty, coins in circulation... (https://bitcointalk.org/index.php?topic=721045.msg8150127#msg8150127)
Why the developers made integration with i2p? Isn't it damn slow? (https://bitcointalk.org/index.php?topic=721045.msg8150177#msg8150177)
I don't understand the RPC API, where can I get more information about it? (https://bitcointalk.org/index.php?topic=721045.msg8150195#msg8150195)
Is Monero double-spent proof? (https://bitcointalk.org/index.php?topic=721045.msg8154822#msg8154822)
Why Monero matters?/Prove me that Monero is not yet-another-shitcoin (https://bitcointalk.org/index.php?topic=721045.msg8477489#msg8477489)
What is the plural form of Monero? (https://bitcointalk.org/index.php?topic=721045.msg8477821#msg8477821)
How does "anonymity" work? (https://bitcointalk.org/index.php?topic=721045.msg8510254#msg8510254)
What are the differences between CryptoNight and CryptoNote? (https://bitcointalk.org/index.php?topic=721045.msg8546973#msg8546973)
Why is a private currency important? (https://bitcointalk.org/index.php?topic=721045.msg9761335#msg9761335)
How can Monero be both anonymous and transparent at the same time? (https://bitcointalk.org/index.php?topic=721045.msg9781917#msg9781917)
Do you plan to implement multisignature? (https://bitcointalk.org/index.php?topic=721045.msg9934301#msg9934301)

Glossary (terms, vocabulary, terminology...) (https://bitcointalk.org/index.php?topic=721045.msg8148698#msg8148698)


-updated by Quanttek

Thank you.

I think you might have your supplies and demands backwards regarding price speculation, but your point is well taken.

I almost wish the launch has been a little LESS fair if that would have sped up development, but good things come to those who wait.

Nice work!

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oh look.. an other pointless thread.



keep spamming yo

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It's a replacement for the existing FAQ thread that will be locked.

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There is a -> Monero Community Hall of Fame <- thread to raise funds for Monero development here: https://bitcointalk.org/index.php?topic=700400.0 (https://bitcointalk.org/index.php?topic=700400.0) which is a continuation of the original thread. https://bitcointalk.org/index.php?topic=697438.0;all (https://bitcointalk.org/index.php?topic=697438.0;all). Many thanks to rpietila for his work starting the original thread and to cAPSLOCK for his work in maintaining the new thread.

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See https://getmonero.org/knowledge-base/people

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(obsolete)
Q: Why Monero matters?
A: Read Prove me that Monero is not yet-another-shitcoin (https://bitcointalk.org/index.php?topic=721045.msg8477489#msg8477489)

Soon Monero will conquer the world! And this FAQ will lead us to the Moon!

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Hi :) I have question, if someone would be kind enough to answer :)

Is it possible to have totally open transactions with XMR (as open as BTC)....or do all transactions necessarily get obscured by ring-sig?

This was answered in this FAQ here: https://bitcointalk.org/index.php?topic=721045.msg8148948#msg8148948

It might have not been clear. This isn't something that's even similar to you comparing your transaction records with someone. This method involves using data that is constant in your wallet, the view-key, that you can use to reveal, with absolute proof, that your transaction occurred on the blockchain. With this, yes, totally open transactions are possible. They can be as open as BTC, if everyone were to share every single view-key that they use with every wallet they use and make them accessible to everyone. I don't know why people would do that though.

Again, as of this moment, there is no automatic tooling in the wallet to do the reveal. Devs are adding it in an upcoming release.

This is an interesting discussion, but not really fitting with a FAQ format at this point, right?

Edit: smooth's right, I'll respond in the main thread here: https://bitcointalk.org/index.php?topic=583449.msg8229760#msg8229760

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Q: What is the plural of Monero?
A: Since Monero is an Esperanto word, it should be "Moneroj" (as in viceroy). But a lot of people use "Moneros".

Litecoin is a fork as well, it's not like anyone even cares that it is.
Your argument is invalid and you know it. It's open source for a reason and anyone has right to fork as many times as one wanted to.

Lack of an 80% hidden premine and not being run by a coin mill that operates by fraud and scams is a "redeeming attribute."

But I could be wrong, maybe an open and wide early distribution, transparency, and integrity are overrated.

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maybe we should add "how to create a paper wallet" from the 10th june missives (https://bitcointalk.org/index.php?topic=583449.msg7241339#msg7241339) as part of the faq.

Q: How do I set up a paper wallet/cold storage?
A: create a wallet on a computer disconnected from the Internet, write the 24 words and the address and the view key down, and then remove all the files created by the wallet.

If the Bytecoin/CryptoNote devs were scammers, how can we trust that the elliptic curve constants in Monero were not chosen maliciously?

If I reveal my identity and my Monero address to a merchant or exchange, what can they figure out about my financial activity?

Should a Monero address be published (as on a webpage or in a sig) or should it be shared only with payees?

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They can't (unless if they can access other merchants' database and start cross-referencing things).

Can be published. Of course, an address being a character string, googling for this address could give some interesting result. But this is not a technical issue, this is a human issue.

When will Monero reach DRK prices? its about time.

It already did (https://plus.google.com/+DavidLatapie/posts/QKYx7iixDfh) and if you look at DRK/XMR (https://poloniex.com/exchange/xmr_drk), it is doing it again.

But this is unrelated to the FAQ, even we have some (https://bitcointalk.org/index.php?topic=721045.msg8148597#msg8148597) FAQ (https://bitcointalk.org/index.php?topic=721045.msg8148615#msg8148615) entries (https://bitcointalk.org/index.php?topic=721045.msg8148619#msg8148619) related to pricing.

Price means nothing.  Market cap is important though  ::)

IMO before the end of next month the two will cross.  The only real competition at this point is BTCD

Discussion about price should go to monero speculation (https://bitcointalk.org/index.php?topic=753252).

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Q. Why do people make so many threads about Monero?

Q. Why is there so much volume for Monero on a small exchange like Poloniex and why does it not really affect the price significantly?

see my post in the main thread - i've specifically asked the devs what / how they think of this and their mathematician's view etc. thanks for reminding me about that. :)

1. Poloniex dumped LTC for XMR pairing a few weeks ago, so i suspect that is why the volume is so high.
2. Because, the price is based on the difficulty of mining it as well as supply/demand, and other market factors beyond anyone's control ie miners dumping and whales etc.

No problem at all. The donation wallet is donation_general_wallet.bin and even the .bin is optional - it could be monero.wallet or even wallet or important. As long as there is a .keys file attached to it.

http://monero.cc/downloads/whitepaper_review.pdf: "After reading through the entire white paper, my biggest concern is whether the elliptic curve parameters were chosen fairly, or how an honest coin developer could go about changing them if they wanted."

Will Bitcoin mixing algorithms (for example, see https://bitcointalk.org/index.php?topic=752260.0) allow Bitcoin users equivalent privacy to Monero?

Answers from the core team:

What are the plans for a new GUI ?  Is it something that will be better delayed until the codebase technicals are more established ?

how about putting in the FAQ why there i so many "self moderated" Monero topics at Bitcointalk ?

Q: Why are there so many "self moderated" Monero topics at Bitcointalk ?

A: Because fucktards like Spoetnik like to spam

Q: Is Monero going to the moon this year or should we waite until next year?

Definitely wait until next year. Price needs to consolidate at a lower level : it will help distribution to more people.

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Bumped and subbed.

Very nice explanations.

Why is an anonymous currency important?
I've heard that side-chains make altcoins redundant?

It is up to any user to decide if anonymous currency will be off any use to him or not.  Monero holders now speculate that there will be small part of crypocoin users that will prefer their wealth and their transactions to stay anonymous. I see that as a fact, speculation is how big will this niche be.

None alt coin that bringing something new will ever be redundant.

Potential users come to the FAQ to decide if anonymous currency will be of any use to her or others:

Bitcoin is a pseudonymous currency, where all transactions are public.  If someone knows your Bitcoin address, they can learn your past transactions.  Thus, Bitcoin is far less private than fiat, and unsatisfactory in many circumstances: anyone can potentially learn your past purchases or your Bitcoin wealth.  While there are approaches to increase privacy with Bitcoin, these have limitations.  Monero provides untraceable payments from the ground up, through the CryptoNote technology.


This is not true.  Many coins offering "something new" fail.  There are plans to implement Ring Sigs on side chains.  The question is whether there is a true benefit in doing this (e.g. security), and whether the need to park BTC reduces anonymity substantially.

BTW, I'd suggest reordering the FAQ somewhat so more basic questions about the coin are at the top, rather than more technical installing/using questions.  Ressources has one "s".

Thanks

That's why the price is currently so depressed.

No.
Side-chains doesn't exist, it is a project and until the day it is proven to work, only a fool would make those kind of claims...

How do I examine the log of past transactions in simplewallet? (I am using OS X.)

A: In the file simplewallet.log

Is a simplewallet.log file created by default or must it be enabled? I'm not finding it in my filesystem. (I used Homebrew to compile from source.)

By default, but I don''t know where it ends up on the mac

simplewallet seems to want to put its log file in the same place as the executable. If you have stored the executable in a non-writable location, you won''t get a log file at all. Work around it to link or put the executable in a writable directory/folder.

https://github.com/monero-project/bitmonero/issues/194

Thanks for investigating--I really appreciate it.

Please provide your suggested listing. Thanks for "resources".

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Wow this is a good one that I didn't know of! Very helpful.

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Does openalias already work in simplewallet? Or is this alias system to be introduced in the upcoming GUI client?

openalias is working with simplewallet.

I must have missed that Missive  ;)

How do I create an alias for my XMR address?

It is done through DNS, so you add a record to your domain. If don't have a domain, get one through your favorite DNS registrar. Simplewallet will decode these so you can type "transmit 3 donate.monero.cc 100" and it will go to the project donation fund.

Example:


More info (including information about privacy and security issues): https://openalias.org/

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It was never mentionned in a missive that it worked with simplewallet :)

---

Regarding the favourite DNS registrar, I swear exclusively by Gandi.net (https://www.gandi.net/) and not (only) because they are French. Because the founders are longtime active proponents of a libre Internet and the new acquirer follows the same ideals. Plus their No Bullshit policy (https://www.gandi.net/no-bullshit) and it this is not enough, read this article about why Gandi matters (https://gun.io/blog/secure-your-domain-where-is-safe-to-register-a-domain-name/).

What version of simplewallet implements openalias? I'm on 0.8.8.3 (just waiting for the next version to upgrade).

I tried sending to donate.monero.cc and i get an error:

A: 0.8.8.5

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Im the admin of this server, so its better right now to use the fqdn name : xmr1.coolmining.club, instead of the IP 88.151.101.22 as far as i can switch ip if server has problem :)

and also as shorter command line argument :)

Updated; thanks. Do you confirm the quote below?
Also, what does ./test1.bin stands for?

You should create an openalias (https://bitcointalk.org/index.php?topic=721045.msg9762785#msg9762785) donate.coolmining.club :)

test1.bin is the name of my wallet, aka the name i provided when i create it. So user will replace it with his current wallet name.
And "./" stands for current directory im in.
This argument take a filename with his path, so i could use "--wallet-file /home/netmonk/bitmonero/wallet.bin" for exemple, meaning i use the wallet.bin wallet file located in the /home/netmonk/bitmonero/ subdirectory.

First question: Why is a private currency important? (https://bitcointalk.org/index.php?topic=721045.msg9761335#msg9761335)
Second question: sidechains will make the price of an altcoin pegged to the price of bitcoin. Granted, this is already the case, but this is conjonctural (temporary). With sidechains, this will be structural (permanent).

Subbed.

A new Monero Q&A site (http://monero.stackexchange.com/) has just been created on Stack Exchange, already with several hundred questions


Blockchain, Aug. 9, 2016 / Monero joins Bitcoin and Ethereum as the 3rd blockchain based currency or consensus network on Stack Exchange. Stack Exchange is the largest network of websites for software developers and users to find, ask, and answer their technical questions. Stack Overflow alone serves tens of millions professional and novice programmers each month. The entire Stack Exchange Network has expanded to cover 150+ topics including Cryptography, Economics, Open Source and Project Management.

Monero is a crypto currency that is not based on the Bitcoin codebase and seeks to be the leader in privacy, security, and scalability. All Monero transactions are cryptographically untraceable and unlinkable, and there is no separate "clear" token. This enables end users to trust Monero as a private store of value and as a medium of exchange that is impervious to blockchain analysis or miner censorship.

Developers building privacy-aware or privacy-centric applications will benefit from Monero's private-by-default approach and will appreciate the small and simple metadata storage area (tx_extra) available in every transaction. Additionally, they will benefit from the standard and uncomplicated cryptography based on Daniel J. Bernstein's Curve25519 EC curve as well as EdDSA signatures.

Those building pegged off-chain or sidechain systems needn't worry about on-chain limitations, as Monero's dynamic block size algorithm grows and shrinks the block size limit based on the on-chain demand. Peg as much back to the Monero blockchain as you need!

Monero Stack Exchange (http://monero.stackexchange.com/) is a community-run question and answer site for developers and users of the secure, private and untraceable cryptocurrency Monero. Experts available to answer questions will include PhD mathematicians from Monero Research Lab (https://lab.getmonero.org/) and many of the developers who have directly contributed to the Monero source-code repository.

Learn more by joining the open beta of Monero Stack Exchange (http://monero.stackexchange.com/).

Site is 404'd

Looking to mine, can you give some details/info/links (that aren't dead)?

https://getmonero.org/home

This is Monero website. You have there also links to IRC, slack, Telegram, where you can get fastest answers.  But since you are on this forum you could read and ask in this thread:
https://bitcointalk.org/index.php?topic=653467.0

How will decentralized exchanges impact coins like Monero?

I have a problem：intermal erro:know ring does not include the spent output:5361565