Anyone taken credit for the 49 XBT bid on XMR at .001111?  Have not been able to monitor IRC or trollbox.  Saw it last night and its been around since then.

In this earlier reply from Smooth to the same question, he said: "Not necessary to do right away but you can restore the old seed with the new wallet, you will then get a new seed"

One follow up though, by "Not necessary to do right away", does it mean that at some point, the old seeds will not be supported via the restore function?

https://bitcointalk.org/index.php?topic=583449.msg9782263#msg9782263

It seems like most of the coin from this address were sent to this address:  https://blockchain.info/address/3LzDzKkatQRXuQ6UxTcWQLuwuhH5nt7TJc

3LZ received a total of 26,850 XBT on 12-08 from 1CV.  It has a total of 47,089 as of posting, meaning it already had 20,239.

Also, the 1CV account had alot of activity predating 12-08, dating back to an initial 3,000 XBT transaction in May 5 2013.

The current balance of 1CV would seem to make it the 21st largest single address according to this site:  http://bitcoinrichlist.com/top500

So it seems to me like a large chunk of the coin were purchased by a single whale / fund / company.

So for those of us who have taken the cold wallet approach of just keeping the "old" 24 word mnemonic:

1 - Should we still move to the "newer, more robust mnemonic."

2 - If yes, How do we do this?  Do we use the restore deterministic wallet in the new client, save and close out, and then when we reopen we will receive the 25 word mnemonic.  Or do we restore with an older version of simplewallet, and then open with the updated wallet?

Thanks in advance, and keep up the good work.\!

Thanks, just reread 4.3 and it makes sense.

Still, what about if I wanted to use different addresses / public keys, does the wallet manage that?  Even if the actual transaction is confidential, I can see situations where you would not want someone to be able to link the same receive address.  I.e. a vendor might want to have different addresses for different stores so they aren't linked?  Or would you have to have two wallets for that at this point?

Ok, so if you have the hex keys from the backup wallet, you can restore from that - BUT, it may require a program.

But I assume you still can't use the restore deterministic wallet approach (which was my question), as the Mymonero login uses 13 words, vs 24 for simplewallet?

And is there any difference in the two restore approaches? 

Also, by the use of the phrase "deterministic wallet", I figured simplewallet worked similarly to Electrum, and thus multiple keys / addresses could be generated and used by the wallet, and the restore deterministic wallet would mean all of those would be restored by the same 24 words.  If this is the case, does the Mymonero wallet use the same approach, or for simplicity, does it just use one key / address?

Is this a new development.  I asked the question of Fluffypony and he said no a week ago:



https://bitcointalk.org/index.php?topic=583449.msg9654716#msg9654716

Just did my first transaction on mymonero, worked great!

Quick question.  I see under account details you can get address, view key and spend key.  Would it be possible to also get the seed words used for the "restore deterministic wallet."  That way, if there was ever a glitch with the website, you could quickly replicate the entire wallet to a local machine.

From this link, http://www.coindesk.com/bitcoin-venture-capital/,  his fund has invested in:

-Coinplug - Second (10-14)

-Snapcard (10-14)

-Korbit - Second 8-14)

-Volabit (7-14)

-BitPagos (6-14)

-Vaurum (5-14) - Now Mirror, and this is the one he noted the auction coin would be used for, to add liquidity http://www.coindesk.com/vaurum-rebrands-mirror/

-Coinplug - First (4-14)

-Korbit - First (1-14)

Another problem with this is if a masternode is deemed to be a MSB, or otherwise engaged in money laundering.  For a discussion of US laws, see here:  https://bitcointalk.org/index.php?topic=421615.45000

MSBs have to keep logs, which can be subpoenaed. 

So if masternodes were generally considered to be MSBs or involved in money laundering, you would be relying on a masternode network that was either being opeated illegally, or in jurisdictions with lax enforcement of laws, neither of which should bring comfort.

Monero is interesting in this legal analysis as well.   The Fincen guidance talks about "third parties" who are involved in the transmission of money needing to register, but exempts "users." "Users obtain virtual currency in order to purchase real or virtual goods and services."  So one could argue that since there is no third party involved as with Darksend, people using Monero to buy goods are not breaking any laws.

I guess Fincen could take the position that with ring signatures, all the signing parties are somehow involved in each other's transmission, and thus merely using or mining Monero would be illegal.  But its still more a stretch, and they would have to go after every user, rather than try and crack down on more centralized masternodes.

I think the confusing thing is whether you have paid 100% of the proceeds you have actually received from selling Bracek's coins (leaving aside any compensation you were getting for arranging the sale).

If you haven't, then that seems to be different from the agreed transaction (essentially sell Casascius coins on consignment), and also seems to imply that you do not have the funds to pay Bracek.

If you don't have the funds because you haven't sold the coins, or are awaiting payment, then its a different story.

If not, if I was Bracek, I would be concerned both that you changed the term of the deal, and also that I have no visibility into how you plan to obtain funds to pay me... Especially given that my counterparty is awaiting sentencing that include forfeiture, penalties and possibly jail time.  

They agreed back on January 27, 2014 to sell based on volatility risk.  "WHEREAS, the government and Ulbricht agree that, due to the volatile market for bitcoins, the Computer Hardware Bitcoins risk losing value during the pendency of the forfeiture proceedings;"  http://www.usmarshals.gov/assets/2014/dpr-bitcoins/order.pdf

Having agreed to permit government to sell back in January, the government no longer needs any further agreement from Ross to sell.  Same link:  "1. The United States and Ulbricht agree that the United States may, at its sole discretion, sell any portion or all of the Computer Hardware Bitcoin, on a date or dates and in a manner to be determined by the Government."

I get 6,988 raw, and 6,835 with the adjustment factor.

I still have no idea how they can be prohibited by SEC from letting investors redeem, but can still sell shares.

I also wonder if they will be able to link wallets to vendors by tracking transactions to exchanges and getting subpoenas.  I.e. subpoena exchanges to get their deposit addresses, get all the vendor deposit addresses they can from their infiltration of SR2 (and possibly the SR2 tumbler), and try and connect the two.

People who are careful and mix multiple times may be ok, but there will always be a few who were sloppy.  Even if they don't capture the biggest and most sophisticated this way, I see a lot of PR value to government taking credit for "cracking" bitcoin's pseudonymity.

In this regard, how secure is Darkcoin?  It seems like the masternode operator can link transactions that they mix - although I'm not totally clear on this.  And there is no reason the gov't can't operate a lot of masternodes.

The response from Darkcoin seems to be that you can mix several times, and as long as one of the masternodes is not compromised, you are ok.  But it seems like the flip side is true as well.  If there are multiple compromised masternodes, then over time, they will capture the full transaction.

If you take the sum of the changes in estimated BTX Sep 24 to Nov 3, the total change is 418 BTX.  Out of the Nov 3 total of 106840, that is 0.39%.

Also, leaving aside the big errors that appear to be reversed the next day, there is only one change, on Oct 3, that is more than 100.  That one was for 356, and thus comprises most of the total change.

So in addition to the big errors that appear to be reversed the next day, I would posit that everything else is just minor factors in their calculations that aren't visible to us, or small errors.  And that the fund has been closed for both purchases and sales due to an SEC quiet period commencing after Sep 23.

This is in the form of a MEW vote / resolution, for fun, but is obviously meant for now just to be a more general discussion.  And as I noted on IRC, this is by no means meant as a criticism of anyone.  If I had deeper experience in crypto, and credibility in the community, I would try to take more leadership.  Since I don't, and since I don't believe in whining about others not taking leadership in a voluntary organization, I am simply trying to think of potential incentives - financial or intangible - that might reinvigorate MEW.

------------------------------------------------------------------------------------------

WHEREAS, there is a general state of malaise in the crypto-currency world in general, and Monero in specific;

WHEREAS, the decline in crypto-currency valuations has also no doubt forced people to return their focus to their day jobs, other ventures and new ventures;

WHEREAS, the above may have had a material and negative impact on the amount of time and attention many knowledgeable and energetic MEW members could devote to MEW initiatives;

WHEREAS, the MEW General Fund ("GF") currently has a balance of 3,929.1 XMR, none of which is reserved for any specific initiative;

WHEREAS, there has been general discussion within the MEW relating to the pros and cons of alternative emission schedules for Monero, but such discussions have not led to concrete voting proposals and resultant debates; and

WHEREAS, there are potentially other MEW initiatives that may also be falling by the wayside due to the conditions noted above;

NOW THEREFORE IT BE RESOLVED THAT MEW CONSIDER CERTAIN POTENTIAL INCENTIVES TO ENCOURAGE MORE VIGOROUS INTRODUCTION AND DEBATE OF EMISSION AND OTHER POTENTIAL INITIATIVES:

FIRST ALTERNATIVE: the Governance section of the MEW Articles provide: "To handle practical matters, the community may elect Executives. An Executive must be a member in good standing. Upon election, the Executive is given the length of term, mission to be fulfilled, limits of authority, and a possible budget."

Accordingly, MEW could consider appointing an experienced MEW member as an Executive to research and lead the discussion, and formulate proposals that could be subject to a vote.  A budget could be considered for such an experienced Executive.  However, it is likely, given the limited MEW funds at current valuations, that financial incentives alone may not be sufficient incentive, and thus we would need someone for whom the intangible benefit of being elected by MEW as an executive for this matter would also add some incentive.

SECOND ALTERNATIVE: Given that a sufficiently experienced member may not find the financial incentives MEW could offer to be sufficient to compensate him or her for the time of leading such an effort, MEW could appoint a more junior, less wealthy MEW member to be a facilitator of the discussion.  MEW's financial resources might be more attractive to such a member.  Such member could coordinate with more senior members to solicit their views, research the market on the issues, synthesize the views and coordinate the discussion.  This approach could be combined with a honorary executive title for some of the more experienced parties who work with the more junior member.

THIRD ALTERNATIVE: A bounty system could be created whereby it was agreed that any proposal that was part of the alternatives submitted to a vote, and received more than X% of the votes, would be entitled to a XMR denominated reward from the MEW GF funds.  For example, any proposal that received more than 2 messages of support via the Monero Forums would be considered as one of the alternatives that was submitted to vote, and any of such proposals that received more than 10% of MEW voting member support would receive a Monero bounty.

FOURTH ALTERNATIVE: Anything else to reignite some fire in Monero / MEW!

FIFTH ALTERNATIVE: We continue to indulge in crypto-depression-apathy, and those of us with a predilection to the consumption of alcohol or other substances to compensate for lack of excitement continue to punish our livers / other afflicted organs.

With the warmest sentiments, and a solid buzz,

Bobabouey

This is most likely the application of the Section 5 "Waiting Period" that goes into place once you file a registration statement.  Company can't offer to purchase, or transact in, securities except subject to specific exceptions.

I've never thought of it in the context of a company "buying back" shares, which is essentially what it would be doing if people sold shares.  So it may apply to individuals trying to sell their stake.

However, if this is the reason, then BIT should not be able to sell new stakes either.

I'll ask Barry on Twitter, not that I know him or anything...

Question from a non-player (and by the way, I think its a great project, just not my cup of tea).

Between the auctioned gold, use of moneritos, stone, etc., is there a calculation of how XMR has been placed into the game by the various characters?

100 votes

Vote proposal #2 ver 3

This worked, thanks, and thanks to other commenters.

Also agree that once you restore, best to move the XMR to a new wallet.