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321  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Cryptocoins-Dice.com | Ripple-Monero-Magi-Dogecoin | Play-Invest-Leverage on: February 02, 2015, 07:58:22 PM
CCD upcoming features
Faucet
Removing the delay on small bets[/u]
These three features are exciting. I think and hope it will help bringing new players.
322  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][HYP] HyperStake | 750% PoS | Most Advanced Coin Control Wallet | 6 Themes on: February 02, 2015, 01:14:53 PM
Change Log:
Proposal for more:

  • Option remove some columns on the wallet (right-clicking on a column would show the list of column with checkboxes, like in Windows). The one I would personally remove are: "confirmation", "address", "date" and "priority". Pretty soon "potential stake" would become pretty useless too.
  • Make the total coin on the top-right part of the transaction tab selectable (and copyable).
323  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Cryptocoins-Dice.com | Monero - Magi - Dogecoin | Play - Invest - Leverage on: February 01, 2015, 01:00:43 AM
Bobbax, since you are very busy, I started filling the page about CCD on xmrmonero.com (it is on services/cryptocoin-dice. I invite you to correct and complete.
https://xmrmonero.com/page/en/cryptocoin-dice
324  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 31, 2015, 06:17:01 PM
Someone on reddit asked help for improving the presence of Monero on Wikipedia. The Wikipedia pillar of neutrality of point of view strongly discourages biased people to edit the page for other things than correcting factual errors. But nothing prevents me to propose a draft on the talk page that could be made into a correct article later by someone else less involved in Monero

https://en.wikipedia.org/wiki/Talk:CryptoNote#Monero
325  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 31, 2015, 04:45:39 PM
In case you are wondering if opacity (=Monero) in blockchain-powered IoT matters:

http://motherboard.vice.com/en_uk/read/how-the-pentagons-skynet-would-automate-war
Quote
Kadtke and Wells want the US military to take advantage of the increasing interconnection of people and devices via the new ‘Internet of Things’ through the use of “embedded systems” in “automobiles, factories, infrastructure, appliances and homes, pets, and potentially, inside human beings.

This also, on a transhumanist ground, calls for more funding on preventing unfriendly AI (Ellon Musk: "something dangerous” happening in five years due to “close to exponential” growth of AI at the firm).
Quote
The main challenge to such robot institutionalization will come from a “political backlash” to robots being able to determine by themselves when to kill.
326  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Cryptocoins-Dice.com | Monero - Magi - Dogecoin | Play - Invest - Leverage on: January 31, 2015, 10:58:44 AM
Bobbax, we passed dogedice.me in max profit.

comparison matrix

Code:
CCD           XMR     715 EUR    2015-01-31 (leveraged/dynamic/volatile)
Dogedice.me  DOGE     542 EUR    2015-01-31  (thanks Bobbax)
327  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 30, 2015, 08:10:46 PM
On the CCD chat, @User893x7Z wrote "I feel like I am sitting on a huge rocket"

I followed up with a conceit, that you may like:

A rocket explodes, has a very high delta-v and exhausts fast. Good to leave the atmosphere, but hard to go much farther than, say, the Moon.
On the contrary, Monero is more like a ion thruster: low delta-v but you can start interstellar travels"
328  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Cryptocoins-Dice.com | Monero - Magi - Dogecoin | Play - Invest - Leverage on: January 30, 2015, 10:41:34 AM
voidspasm, saddam and me had some questions on IRC about leveraging. Bobbax was kind enough to answer on #cryptocoins-dice.

Every time, the first line of the answer is mine and below it is Bobbax.

Question:
If you have 100 coins invested, and you leverage 10:1, are you risking the same as a guy who has 1000 coins invested and is leveraged 1:1?

Answer:
Yes, but only until the second bet.

We have 2 investors
  • investor A with 10,000 COIN on a leverage 1:1.
  • investor B with 1,000 COIN on leverage 10:1.
So our initial bankroll is 11,000 COIN, and the Bankrage (bankroll with leverage) is 20,000 COIN
A player win 100. As A & B are each owning 50% of the bankroll, they both lost 50 COIN.
  • investor A have now 9950 COIN left, not leveraged still
  • investor B have 950 COIN left, but with the leverage he is investing for only 9500 now
After that bet, A is now owning 51.1568% of the bankroll, and B 48.8431%. The difference between someone who is leveraging and someone who's not can be seen over the time. So no the risks aren't the same. The Investor's B investment is a lot more volatile.

Question:
Since investing has a positive expectation and assuming you don't plan to withdraw the money in a hurry and assuming the admin won't run with the money, why would a rational actor not go for maximum leverage?

Answer:
If you lose, you will have much less to compensate for the next bet. One can say "yeah, but next win, I'll earn it back as high", except that not everyone will leverage at 100 - so you will end up falling down in your percentage of the bankroll and thus make it harder to grow back.

It's simple, if someone go 100:1, then a player bet twice on the max. profit and win twice, he'll lost very hard.
Bankroll is 90,000
You invest 100 on a leverage 100:1, so now the bankroll is 100K, you own 10% of it. The max profit is now 500.
A player bet on 500 and win: 500*10% = 50, you lost half of your investment within 1 bet

As Bobbax said "This is only simple maths but that become clear only once you see them."

Remember this, people: simple maths can make you rich or broke. For something that has no physical existence (you do not encourer digits in nature), this is quite a potent thing.

Update: terminology

- Bank roll: the amount of a given coin in the bank. The real coins. At CCD, they are located on three different wallets: a hot wallet, a cold wallet and later a deep wallet. Only the hot wallet can be stolen by an attacker
- Bankrage: bankroll time leverage
- kelly: short for Kelly criterion
- max profit: the maximum amount of COIN one can't win in one bet (you perfectly place a bet of more than the max profit, you are aiming for less than x2, like 10000 coins at 90%). Max profit = bankrage * 0.5%
- average leverage: bankrage / bankroll
329  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 30, 2015, 10:01:18 AM
I would direct you to the mining thread, but the killed search function makes finding that a real bitch.
Google search help:

The handy "inurl" operator

Monero "sub-threads" are on the OP
Monero Economy  •  Monero Support* •  Monero Mining  •  Monero Speculation*  •  Monero Dev*  •  Monero large OTC
* self-moderated

The mining category on forum.monero.cc
https://forum.monero.cc/13/mining-software-and-pools

(yeah, I realize it is a ONE with one hundred zeroes following. But who the hell ever said google before Google?)
No one before the correct word is "googol" Smiley But I get the point.
330  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Cryptocoins-Dice.com | Monero - Magi - Dogecoin | Play - Invest - Leverage on: January 30, 2015, 09:35:03 AM
With leverage the Monero bankroll is above 100k.

Next milestone: 1 million Monero Bankroll.

Let's do it!

And saddam is going for aggressive in his sig Smiley Just weeks after you bought a custom sig Smiley

Aggressive
Code:
[size=14pt][font=monospace][b][glow=black,2,300][url=https://www.cryptocoins-dice.com][color=yellow]‡ Cryptocoins-Dice.com ‡ Monero Dogecoin Magi ‡ Play Invest Leverage ‡[/color][/url][/glow][/b][/font][/size]
331  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 30, 2015, 01:06:16 AM
I did not say I like it. This is what I conclude from linguistics. New word rarely care for etymology, they care for similar-sounding for similar-idea.
Mon - error. ..  Not sure I like that either.

In French, "monero" sounds very close to a childish way to say "my hero". No one has issue with it.
The Chevrolet Nova sold very well in Spanish-speaking countries, despite meaning "doesn't work" (no va) in Spanish.
The Škoda brand of automotives has an excellent reputation in Slovenia, even though "škoda" means "shit" in Slovene.

What I want to say is that, given enough context, we humans completely forget what looks like a ridiculous meaning. I must admit I needed to teach myself linguistics to stop falling in these traps Smiley
332  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 29, 2015, 11:52:29 PM
Tippero has just learned Blackjack!
Tippero has grown since last time! He can now play bookie.
Announced on xmrmonero.com: Tippero plays blackjack and bookie

Bitcoin users are called "Bitcoiner(s)".
Litecoin users are called "Litecoiner(s)".
etc.

How are Monero users called?

Is there already a cool name/term? Or do we need to create/find one? Obvious best via a community decision.
Monerian.

or if there's Esperanto rules regarding this, that would pertinent. Monerita?
Monerer will probably be used; by analogy with "bitcoiner".

I did not say I like it. This is what I conclude from linguistics. New words rarely care for etymology, they care for similar-sounding for similar-idea.
333  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Cryptocoins-Dice official thread (Monero, Coin of the Magi & Dogecoin) on: January 29, 2015, 08:30:41 PM
50K bank roll broken. This is an important milestone, psychologically speaking. The max profit is now 78 USD per bet.
334  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 29, 2015, 04:37:08 PM
So I'm thinking of setting up a small site to sell some goods.  I would want to integrate Monero but my question is this.  Is there an automated script or process that would adjust the value of XMR to U.S. dollars say like every 15 minutes?

I would probably need some support from the true techs here if I go with this project.  


xmrmonero.com offers any project, product or service a page to promote itself. Drhiggins, Ginger Ale, your projects could be the next entrants.

Below the three first entrants (once a critical mass will be reached, we will change the menu):




Latest entrant is Moneroblok: https://xmrmonero.com/page/en/moneroblock

How it works:
1. Submit you project (or someone else's project) with the "contact us" link
2. If your project is accepted, a page will be created and you will be given editing right for this page only (guest editing).

You can have your content translated in as many languages as you want (go to the "translate" page and start editing - if your language is not available, contact me). You can see for instance that Moneroblocks already has a Portuguese translation (I'm still working on some minor but annoying technical issues.

Since you have full editing rights, you can update the content as often as you want and as you see fit. Eventually, some limitations regarding what can be written will have to be enforced, but for the moment, this is pretty free-form.



Do you part to make the Monero ecosystem grow!
335  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 29, 2015, 03:03:01 PM
Hello all I am new to XMR...what is your guys vision for this coin?
(update1: added to my blog on xmrmonero)
(update2: published on reddit, already 12 upvotes)


Welcome!

Short (and necessary incomplete) answer: true electronic cash

Long answer:
First why Monero is serious: Why Monero matters?/Prove me that Monero is not yet-another-shitcoin.

You asked about the vision, though. So, I'd say that the three pillars of Monero are privacy, decentralization and scalability.
Now what does it means?

Security
Monero is true electronic cash. With Monero, you can know that a transaction occured, but not whence, how much and whither, whilst it is getting increasingly easy to trace Bitcoin (mixer, tumbler... or not). See this illustration on how it positions compared to Bitcoin and this animation on how it works. Monero is a cryptocurrency that is based on the CryptoNote protocol and reference code, and that seeks to provide absolute transactional privacy (fluffypony).

But Monero is more than a currency. Its official slogan is "secure, private, untraceable" for a reason. Other transactions than the monetary ones benefit from it. You may not want anyone to know you signed this contract. You may not want the forthcoming blockchain-powered internet of thing cloud around you to be accessible by anyone, and this requires an opaque blockchain, that Monero provides.

We hired academic cryptographers to review and improve the security of Monero and started an external audit as well. Even Bitcoin developpers and independant cryptographers (Andrew Poelstra/andytoshi, Gregory Maxwell, Nicolas Courtois) speak high of Monero and Cryptonote.

Finally, security is a chain as strong as its weakest link. What is privacy of the transaction worth if your IP is revealed? This is why we are teaming up with Privacy Solutions to have an i2p router implemented in Monero. IP obfuscation, amount obfuscation (only 1.17262001 XMR was actually sent here), recipient obfuscation, sender obfuscation.

May I remind everyone that privacy is more than drugs and illegality? Are you ready to give everyone (EVERYONE) read access to your bank account? Would your like your ex-wife, your son, your boss, your neigbour or (particularly if you are a company) your competitor to know how much money you have, where it comes from and what you doing with it, forever (and no, multiples addresses or mixers or tumblers just don't work)? Would you like your landlord to know that you just got some money, so s/he can raise the rent? Privacy is also making it possible for journalists fighting for the freedom of press to do their jobs when there are in a dictatorial (or not-so-dictatorial) country. This is also about not being incriminated because your money was tainted (two transactions before, it went from drug dealing, for instance).Countless studies showed that people behave differently when they know they might be watched.

As tacotime (a core team member) said back in April, when Monero was only one week old, Fuck the pump and dumps, we're here to create something with value that people can use.

Decentralization
Despite being decentralised at heart, cryptocurrencies are increasingly centralised. Webwallets, exchanges, pool mining and cloud mining, centralised seedings or masternodes... All of this is susceptible to attacks (both technical or legal - remember that "legal" doesn't necessarily means "legitimate"). Whilst Monero is decentralised mixing.

By contrast, we are trying hard to keep Monero decentralised. Our domain names for the most parts are meant to be resistant to such attacks (gun.io on choosing domain names and registrars). The core team is composed of both public faces (myself and Riccardo Spagni/fluffypony) and private faces (the other core team members) located on various continents with widely different timezones, making sure that core devs are avaialble 24/7. This extends to technology too. When implementing something, we keep in mind how it will affect decentralisation. And we recently released the first Monero torrent.

The smart mining forthcoming feature will allow transparent CPU mining on your own computer, far from the de facto centralisation of mining farms and pool mining. We intend to pursue Satoshi's original vision of a true p2p currency. "Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized." (smooth).

Scalability

Monero is meant to stay. Long. This means it must be able to be adopted by anyone, that anyone can use it. Open-source is a given and smart mining participates of it too. But beyond this, we chose a currency code a.ka. ticker symbol (XMR) that adheres to the international monetary standard ISO 4217. We are doing our best to follow technological best practices. Recently, we worked with Kitware to have our Cmake tool adhere to the best practices and we will soon transition to semantic versioning (semver.org). Similarly, the block time, mixin count... are designed (and sometimes redesigned) with long-term scalability in mind.

More importantly maybe, Monero doesn't suffer from some of the inherent flaws of many orther cryptocurrencies. Monero is fair-launched and doesn't have a 1 MB blocksize which limits the ultimate amount of transaction per day. Today, it doesn't matter much, but tomorrow when Monero will be much more popular, this will be instrumental in ensuring that Monero can continue to grow - this is the whole point of scalability: it may not matter today, but it does for tomorrow when it will be so hard to change it.

The same consideration are given to the emission curve. We believe (and we are not the only ones), that relying only on transaction fees won't be enough of an incentive for miners (remember: the core of the blockchain is to rely on an economic incentive, because it is not possible to solve the Byzantine Generals' problem with math alone). This is why Monero implements a "tail emission" that will kick off once the main emission is over, in less than eight years.

Scalability is not only about technology. It also about making sure that everyone gets their side of the bargain or else it will be rejected. That's why Monero is also optionally transparent. This means that, on a completely voluntary basis, one can give read access to someone else. Quoting fluffypony on reddit: "A view key can be used to reveal all transactions for an account. This means that companies could still be audited, charities could make their accounts publicly visible, and parents could see what their kids are spending the money on. Additionally, details of a transaction can be revealed via a similar mechanism on a per-transaction basis."

This is also to increase legitimacy that the Monero Economy Workgroup (disclaimer: I am an executive of the MEW) was created (what is MEW? - join MEW). The MEW takes decision (that, granted, the core team is not bound to accept, but refusing a widely adopted decision would cause turmoil) and since the MEW is meant to represent the will of most holders, it will increase legitimacy: something decided by the MEW is something most holders are willing to do. The debate on the emission curve is a perfect example: the MEW unanimously decided to not change the emission curve, and confidence went back immediately. Consistent confidence is part of scalability.



Security, decentralization, scalability. These are the three pillars of Monero. The vision of Monero is to be future-proof and I hope this long reply answered your questions.
336  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 28, 2015, 11:59:32 AM
I believe the word I should be It and for should be to.
Fixed, thank you!

In this vision, is this client mining towards the clients individual node? Or is the client mining towards a pool? Because in the second, we're asking a user to choose  a pool... unless of course the program just automatically pings all available pool nodes and finds the lowest latency.
Or just use pools which gives full profit to dev fund, like backup-pool and cryptonotepool.org.uk. Nothing certain yet, the three options (full node, lowest latency pool, full profit to dev fund... all have advantages.

In the future, will every computer on the planet automatically smart-mine the most profitable CPU coin while idle?

Why not? Let hardware pay for itself. Let your router sell WIFI by the kb to people passing through your urban neighborhood. Let your CPU mine XMR. Let your HDD rent out space on Storj.

A new era of hyper-efficiency.
That's why smart grid is the next big thing. This is already being considered for electric vehicles (once they are full, they sell the excess generated electricity (solar panel, for instance but also over-threshold emergency capacitors) to the grid. I wrote a paper some months ago about a new business model for taxis combining EV (electric vehicle), AV (autonomous vehicle) and taxi.
And you probably know by then that the future of Internet of Things will be blockchain-powered (Nick Szabo, IBM-Samsung, devclub where I spoke about the dangers of transparent blockchain computing - you see where I am heading).
337  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 28, 2015, 01:02:25 AM
My general understanding (and it might be just mine) is that dev team wants to get internals right before releasing GUI, because a fancy GUI with shitty internals is just a polished turd. As far as I know these internals include the database branch, which has been running stable for me for over 2 weeks. (gets the blockchain out of memory)
Correct: Why monero is not user-friendly like most other cryptocurrencies? Why there is no official GUI wallet
Quote
Monero is not a Bitcoin clone, and so it's code is entirely new (originally derived from Cryptonote). Similarly to the early Bitcoin days, a lot of pieces have just not been built yet - the puzzle is largely incomplete. There's good and bad that comes with this fact, amongst other things: there is certainly some additional risk as the code is a lot more experimental than that of Bitcoin, while on the other hand, there is also a lot of potential, as Monero is just in it's infancy. A GUI Wallet is certainly an important part of this puzzle, and there are unofficial GUI wallets that can be used (recognizing that they are test-quality software) — see the next question.

The GUI wallet won't be just a CLI wallet with a GUI. I will also cater for payment processors and web wallets (source).

We also plan to have a framework to do SPV-style clients like Electrum, so Windows users won't have to sync the blockchain, etc. (source). Note that the unofficial lighwallet (see next question) is not as light as this solution would be.

I forget what some of the other internals are. I don't know if i2p is something they're trying to do pre-GUI.
Different things, but it could be possible that official GUI ships with i2p. Or not. Different concerns, different teams (Privacy solution)

I'm pretty sure the mnemonic key you get from mymonero.com IS NOT compatible with simplewallet. It can only be used on the web wallet. I think there are plans to make them compatible, but I don't think they are right now.
Confirmed not compatible, but unifying the two is planned.

Regarding smart mining, I like to quote smooth:

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.
338  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Cryptocoins-Dice official thread (Monero, Coin of the Magi & Dogecoin) on: January 26, 2015, 10:15:54 PM
Heading to 45K in the bank roll.

Also, I updated the max profit on my max profit comparison post. I will do it regularly, also I won't mention it often. Pay attention to the update date - too much a difference between last time a site was checked and this is not so meaninful anymore.
339  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 26, 2015, 10:03:10 PM
(e.g. your drug dealer is bust in a sting op)
Ttt... If a core dev starts to use drug examples, it will be harder to explain that privacy is not just illegal stuff Smiley

stealth address + ring signature = the privacy part of CryptoNote. Cryptonote is more than privacy; it is also less constrained parameters which, for instance, render any Cryptonote immune to the 1 MB blocksize that affect Bitcoin. The CryptoNote protocol has "no hard limit" (whitepaper, sic), which helps scalability. Not counting the "chosen transparency that is the viewkey and later auditable addresses, like fluffy mentionned it on reddit

On top of this, Monero added some more features, like tail emission to mitigate the predicted loss of interest of miner for a crypto if all they have left is transaction fees, openalias (granted, it can be used with more than Monero, even Bitcoin), mnelmonic seed (AFAIK, only Bitcoin has it, whith Electrum).
340  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency - 0.8.8.6 on: January 26, 2015, 09:17:16 PM
Just curious. What are stealth addresses and how well is anonymity and privacy achieved compared to ring-signatures ?


Decentralised mixing. No middleman. Work from day one, backed up by 10 years of academic cryptology research.
The only thing the outside world can know is that  a transaction occured. But not whence, how much and whither.

For more details:

How does "anonymity" work?

Quote
Several posts about it. In time, there will be a consolidated answer:
And of course:
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