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How could I say that? I'm not saying Monero is bad. I'm saying this specific reasoning is wrong.

See: http://en.wikipedia.org/wiki/Pascal%27s_Wager It's one of the most famous examples of incorrectly applied logic.

Lol that name. At least spell fuck properly for fck's sake

Yes, but the same is true for any other altcoin (even the most junky ones), the same is true for the existence of any god. This is just not how logic works though.

Mind that Bitcoin and Monero are the only cryptocurrencies I currently hold.

I may be strange in that it seems perfectly valid to me. I pay taxes, because by paying, I lose only the sum invested, but by not paying, I risk unforeseen consequences. With Monero there is at least some upside, unlike in paying taxes which is a genuine lose-lose...

GUI wallet talk = beatdown of a deceased equine

Unfortunately the fact that you have that view makes you unsuitable to comment on the user friendliness required for a successful coin. Think about the process of using CoinBase to buy and sell and send BTCs. Then compare that to Monero's process.

Monero needs to have that level of simplicity and elegance for ease of use in order to get the non technical masses to adopt. No one other than technical geeks is going to be even attempting to use a command line. And that population is about 1% or less of the potential base.

I think everyone on here pretty much understands this at this point. Design for Grandma and you win. Design for Linus Torvalds and you lose.

The good news is that the new GUI looks excellent, and will be a nice step forward. The pace of development in other areas like the database, etc... is horribly slow though, so it remains to be seen whether some other BCN clone or other coin ends up leapfrogging XMR and winning in the marketplace. The hard part with new paradigms is that the best technology doesn't always win. Its the one that is "good enough" and gets the most attention/network effect that will win.

I read that the dev made that on purpose. Just wanted to inform you. I'm not and will Not be invested in your monero. Good luck

It's just not ready yet.  When the GUI and database are ironed out, I believe we'll see much more adoption.

So, I view our current status as something of an IPO.  Or a technology preview for us alpha nerds.


I remember years and years ago when Bitcoin was simmering below the surface.  You'd see an occasional release posted to Freshmeat and whatnot.  This is very similar.  Command line and all.

Seriously?  It's horrifically user unfriendly and unrefined and it's still in a race with XC, Dark & BTCD.  If/when it pulls away and polishes it's features off (doesn't take all your ram, official GUI, etc) it will launch IMO.

Doing very well all things considered ...

When you send from simplewallet it gives you the txid right away. When you send from an exchange they usually give you the txid on their wallet/balances/withdraw page although it was reported here recently that one of the exchanges did not.

The view key will eventually allow you to do that but for now you can look up the transaction in a block explorer by txid to make sure it was confirmed into the block chain.

if you type "seed" within simplewallet, it will show you your 24 words

I don't know maybe. You can look. The older wallets didn't provide a seed, so all you have in that case is the wallet file itself.


You only need the .keys file.

If you don't have the seed I suggest you just create a brand new wallet (offline if you are paranoid) save the seed securely then send the funds to that wallet.

You need to record it when you create the account  (aka "wallet").


You need to record this as well. Currently there is no use for the view key, as tools to use it don't yet exist. In principle it allows viewing the transactions for an account without the ability to spend the coins.


The view key will eventually allow you to do that but for now you can look up the transaction in a block explorer by txid to make sure it was confirmed into the block chain.


simplewallet ----restore-deterministic-wallet

Is there any progress in getting the client to use the blockchain from the HDD as opposed to loading it all in RAM?
Looking forward to when an official GUI is put out. I don't mind the command-line [although this is my first time using a command line wallet],
but I think a GUI would really open doors for adoption.

Good job to the devs and community. 

I hope with the BTSX&BTCD implosion coming ahead, more people will finally realize this arms race is not about "fancy" feature. The purpose of a cryptocurrency is not to develop stuff like a "chat" (it's trendy currently apparently), be it a "shadow chat", a "dark chat" or whatever. Even less a "Web 3.0" (sic).

Any cryptocurrency whose success relies only on fancy shiny features is doomed to fail.
Any cryptocurrency whose sustainable success relies on weekly-announced new "surprise" features, is also doomed to fail.
Any cryptocurrency whose sustainable success relies on adding new layers of complexity to reach one of its *original* goal (for instance, providing prooven anonymity), is equally doomed to fail.
Any cryptocurrency that does not have enough to bring on the table compared to bitcoin, is trivially doomed to fail.

These reasons only are sufficient to discard 99.9% of altcoins, including some of the largest market caps seen currently. Once people get tired of being ripped off by crap marketing, they'll listen to the voices of reason.

My advice to anybody arriving in cryptoland to invest more than short term: stick with BTC. If you want to go risky and play the "potential early adopter game", invest in XMR. And no other cryptocurrency than these two, as there is simply no fundamental reason to do so.

My suggestion is as follows:

1. Take any machine you have lying around, even your normal workstation. You may find it easier to use an older computer that has no wifi or bluetooth if you're particularly paranoid.
2. Create a Linux or Windows bootable disk, and make sure you have the Monero binaries on the same disk or on a second disk (for Linux make sure you have also downloaded copies of the dependencies you will need, libboost1.55 and miniupnpc for instance).
3. Disconnect the network and/or Internet cables from your machine, physically remove the wifi card or switch the wifi/bluetooth off on a laptop if possible.
4. Boot into your bootable OS, install the dependencies if necessary.
5. Copy the Monero binaries to to a RAM disk (/dev/shm in Linux, Windows bootable ISOs normally have a Z: drive or something)
6. Don't run the Monero daemon. Instead, using the command line, use simplewallet to create a new wallet.
7. When prompted for a name, give it any name, it doesn't really matter.
8. When prompted for a password, type in like 50 - 100 random characters. Don't worry that you don't know the password, just make it LONG.
9. Write down (on paper) your 24 word mnemonic seed.
10. Write down (on your phone, on paper, on another computer, wherever you want) your address and view key.
11. Switch off the computer, remove the battery if there is one, and leave it physically off for a few hours.

There you go - the wallet you've created was created in RAM, and the digital files are now lost forever. If some magical hacker manages to somehow get the data, they will lack the long password to open it. If you need to receive payments, you have the address, and you have the view key if needed. If you need access to it, you have your 24 word seed, and you can now write out several copies of it so that you have an offsite copy (eg. a bank deposit box). Due to the nature of the key you can write it as part of something else - eg. write a fake love letter to your wife so that the 24 words on the left hand side are your key or whatever. Then write a bunch of extra love letters. That way, if your deposit box is ever discovered, it'll be disregarded as unimportant love letters.