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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency on: April 27, 2018, 06:11:02 PM
print_block 1546123
timestamp: 1523107696
previous hash: d08c3ec178339cdd923183e6fff0dcf52b5b9178bf66d26569e8fd714755fbba
Looks like you're on the right chain. You're either connected to a bad peer (i.e. a peer that is on the wrong (alternative) chain) or a peer that's syncing off of you.

I rolled back using monero-blockchain-import --pop_blocks 18000 then resynchronized. Still a couple of problems. Monerod stopped synchronized several times during the process and I had to exit and restart. I've seen that before but never so often. When I finally got synchronized all seemed fine but now I suddenly have a new top block candidate several hundred blocks in the future to which I am slowly catching up (1 block/2 minutes as expected). Any ideas? Do I have a bad peer? How do I fix that? Thanks in advance.
2  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency on: April 26, 2018, 08:16:54 PM
print_block 1546123
timestamp: 1523107696
previous hash: d08c3ec178339cdd923183e6fff0dcf52b5b9178bf66d26569e8fd714755fbba
nonce: 178366
is orphan: 0
height: 1546123
depth: 13783
hash: 1e59d28e654dd8619b93c5f4b364cd430349310368f805e87d9221650f388f0d
difficulty: 86701103752
reward: 4899105489228
  "major_version": 7,
  "minor_version": 7,
  "timestamp": 1523107696,
  "prev_id": "d08c3ec178339cdd923183e6fff0dcf52b5b9178bf66d26569e8fd714755fbba",
  "nonce": 178366,
  "miner_tx": {
    "version": 2,
    "unlock_time": 1546183,
    "vin": [ {
        "gen": {
          "height": 1546123
    "vout": [ {
        "amount": 4899105489228,
        "target": {
          "key": "f30fe7c41f30907c66fcacf6eeb474aaacb0e9140b4731ea288e75ca15809678"
    "extra": [ 1, 48, 187, 77, 127, 199, 134, 79, 50, 20, 171, 120, 101, 62, 24, 49, 126, 79, 211, 252, 104, 135, 20, 124, 62, 190, 164, 148, 233, 150, 123, 55, 156, 2, 17, 0, 0, 73, 234, 167, 205, 200, 47, 0, 0, 0, 0, 0, 0, 0, 0, 0
    "rct_signatures": {
      "type": 0
  "tx_hashes": [ "50f0e8d4bda1a1d4935003a48853a9dde0d006a01f41d5299513678922b60993", "b8df76dc37a180c4ece7c18eefb6c5efbbedff0b8e9d55fc1cd941a1068aab31"

3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency on: April 26, 2018, 08:02:15 PM
I've been seeing a lot of weird activity on monerod since I upgraded to v12 and started trying to resync. I was about a month behind. I had a long list of "BLOCK ADDED AS ALTERNATIVE ON HEIGHT xxxxxxx" which I have seen before and I understand is normal, but I've never seen so many. And now I am 1051 blocks AHEAD - I've certainly never seen that. Anyone know what's going on?
4  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 18, 2018, 02:25:08 PM
After the MoneroV fork Monero will be as "anonymous" as Bitcoin.

The few people that don't claim their MoneroV and cash out will be left with both compromised Monero holdings and an ever sinking market value.

For anybody thinking that it's 'smart' not to claim XMV... Wat is smart is to have a protocol where this kind of attack isn't even possible. Don't just blame XMV for attacking Monero, blame Monero for having a critical vulnerability. It's as much a social exploit as a technical one. The technical one makes the social attack possible in the first place. FIX THE PROTOCOL!

Hard to see how this could be done on a protocol level. Anyone can fork, and how can you prevent people exposing their private keys to the new fork if they want to?

I will move my Monero to a new wallet just before the fork, and the original Monero to another new wallet just after. That should solve the problem for me. Of course, many won't bother to do this.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: The market effect of Tether collapse - and our survival strategy on: February 06, 2018, 02:09:24 PM
Can anyone tell what are the guarantees, if any, that Tether won't switch to fractional reserves?

From the Tether Terms of Service (updated in January):

No Representations & Warranties by Tether: Tether makes no representations, warranties, or guarantees to you of any kind. The Site and the Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose.
6  Alternate cryptocurrencies / Altcoin Discussion / Re: Tether: not even a scam on: January 31, 2018, 04:27:31 PM
Interestingly, there are now million-dollar buy walls on Kraken at 0.986, 0.985, 0.975, 0.97, and 0.965. Normally the buy side on Kraken is very thin. A few days ago, to sell $250K on Kraken you would have had to sell the last one at $0.50. Kraken is the only exchange I know of where it is possible to exchange Tethers directly for USD. Someone is defending Tether.

$5 million isn't much compared to Tether's market cap but this might have something to do with why the Tether price is still levitating within a cent or so of par.
7  Alternate cryptocurrencies / Altcoin Discussion / Re: USD Thethers just unraveled here's the Crypto Meltdown on: January 28, 2018, 06:29:18 AM
In a related development, 600,000,000 Tethers just came into existence within the last few hours, according to coinmarketcap.
8  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Guru warns EXIT ALL EXCHANGES NOW as Tethers crash on: January 28, 2018, 05:49:21 AM

Tether has apparently dissolved its relationship with Friedman LLC, the accounting firm that produced the not-really-an-audit on Tether back in September. Here is the statement from Tether:

"We confirm that the relationship with Friedman is dissolved.  Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable time frame. As Tether is the first company in the space to undergo this process and pursue this level of transparency, there is no precedent set to guide the process nor any benchmark against which to measure its success."

No precedent to guide the process? The money is there or it isn't. That's what auditors do.

Incidentally, according to coinmarketcap another 600,000,000 in Tethers just came into existence about four hours ago. Tethers are now listed at $0.99.

In September Friedman sort-of-confirmed that Tether had money in the bank to back the less than $500,000,000 in Tethers then in circulation. More than that just came into existence. There are now about 2.2 billion Tethers.
9  Alternate cryptocurrencies / Altcoin Discussion / Re: What do you think will happen to Bitcoin and others crypto during war on: January 05, 2018, 02:51:00 PM
That depends on the war.

If the war threatens the integrity of the Internet then the value of cryptocurrencies will plummet. Think of North Korea threatening the US with an EMP device or the Russians cutting the undersea cables - they have been snooping around them with their submarines. In that case you'd be way better off with gold.

If the war just gets expensive and threatens the financial system then the value of cryptocurrencies should rise. You'd be ok with gold then too.
10  Alternate cryptocurrencies / Altcoin Discussion / Re: QRL will make 20X like Verge on: January 03, 2018, 01:25:54 PM
I don't like it. They claim to design a secure ledger today that will be secure from the future quantum-attacks. In security, there is no such thing as future-proof. You need to continuously asses your platform against technological advancements. Also, quantum-computing is not yet fully understood and the limits aren't explored. How can they define the limit of their coin resistance.

Quantum-computing shall exponentially increase the computational speed. A brute-force attack will be carried out in seconds rather than years. However, at what rate and to what extent that computational speed is still unknown. Based on this, they will either have to fork QRL multiple times to adapt to the expansion of quantum-attacks, or they will remain vulnerable until we find the limits of quantum-hardware at that time.

I'm not saying they are a scam. Please don't get me wrong. To make it simple... a non-QRL coin may be broken in a 1-second quantum-attack. A QRL coin may be broken in 1.5-second quantum attack. Nothing is for sure. Until we actually know the limits of quantum-attacks, we can't protect ourselves from it. I can claim to have a quantum-attack-resistant coin even if it can resist a quantum-attack for 0.0000001 seconds, but I'm not going to come out and say I have a quantum-attack-resistant coin that is vulnerable because that word is bad publicity for me.

Actually, quite a lot is known about the capabilities of quantum computers. ECC, used by Bitcoin and most other cryptos, can be broken by Shor's algorithm in O((log N)2(log log N)(log log log N)) time. Grover's algorithm, which can be used to break the hash-based cryptography used by QRL, runs in O(sqrt(N)) which is much slower. So using hash-based cryptography you can regain your original level of security against a quantum attack by doubling the number of bits in your key but against ECC you need to increase the number of bits by a much larger proportion - to a point that may be impractical.

At the moment QRL is being held back by the fact that it's available only on Bittrex, which is not accepting new accounts, and on Liqui, which many seem skeptical about. And it's currently an ERC20 token not yet running on its own blockchain - but that is coming "soon". But it's a real project, with a competent development team. I expect it to do well once these constraints are removed.

Disclosure - I own some.
11  Alternate cryptocurrencies / Altcoin Discussion / Re: IRS taxing cryptocurrency trades starting Jan. 1st. on: January 02, 2018, 03:31:09 PM
I have argued previously that crypto to crypto trades are taxable and now it is law. However I think that this means that the IRS will probably not challenge like kind transactions for tax years prior to 2018. So now I plan to claim like kind for 2017 which will save me a lot. If you do this you must file IRS form 8824 though!
12  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Taxes - US on: January 02, 2018, 05:11:38 AM
n911 points out that the new tax law specifically disallows crypto-crypto transactions from like-kind treatment starting in 2018. This is actually good news for me, because it suggests that the IRS won't fight it for prior years and I wasn't planning to claim like-kind in 2017. So now I will claim like-kind for the 2017 tax year which will save me a lot.

Note if you do this you still have to file IRS form 8824.

Most crypto traders ignore the issues entirely. This will cost many a lot of money, time, and trouble. The IRS will catch up with those who don't declare their gains - there is a lot of potential revenue in there for them.
13  Alternate cryptocurrencies / Altcoin Discussion / Re: Can I buy tether with usd wire? on: December 23, 2017, 12:27:31 AM
You can't buy Tether from Tether, their their banking relationships are... tenuous. That should tell you something.

You can wire money to Kraken and buy Tether directly there. That's the only exchange I know of that has a working USDT-USD trading pair.

Buy why would you want to? There are many threads on this forum addressing the reliability and safety of Tether. Suggest you read some of these before you commit.
14  Alternate cryptocurrencies / Altcoin Discussion / Crypto-to-crypto exchanges are now taxable events under new tax law on: December 21, 2017, 09:20:37 PM

The new tax law explicitly makes exchanges between cryptocurrencies taxable as of January 1.

This means that when you (for example) buy Monero with Bitcoin, you have to treat the trade as if you sold Bitcoin for cash and bought the Monero with cash, and must declare the gain/loss on the Bitcoin you sold as a taxable event.

Until now there has been controversy as to whether or not cryptocurrency exchanges could be treated as "like kind" exchanges. In a like kind exchange the tax basis for the currency sold is carried forward into the currency bought, and no tax is due until the second currency is later sold. This option has now been ended.

This might be good news for those of us who have not been claiming like kind status on our crypto trades as it kind of implies that we could get away with doing so for the 2017 tax year.

15  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: December 20, 2017, 12:59:28 PM
What makes you think USDT is backet by nothing ? isn't it supposed to be "tetherised" to USD and backed by the same amount of USDas USDT circulating ?

i would gladly hear more information about USDT being "backed by nothing", as a beginner i always though it was backed the same number of circulating coin ?

Tether: not even a scam:
16  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Taxes - US on: December 19, 2017, 12:42:22 AM
No buying Altcoins wont be taxed and no if the BTC is sold for crypto it won't be taxed. The tax has to be paid only for Crypto to fiat transactions.

I would be very interested to know your source for this. "Everyone knows" that this is true, but I'm pretty sure "everyone" is wrong.
17  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Taxes - US on: December 18, 2017, 02:24:52 PM

There are many articles on the subject - just Google "cryptocurrency like-kind exchanges".
18  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Taxes - US on: December 17, 2017, 10:38:45 PM
IANAL, but I have extensively researched this issue.

If you sell Bitcoin for an altcoin, or the reverse, this is a taxable event. You need to figure the cash value of the coin you sold at the time of the transaction and declare that gain or loss.  This is not a popular opinion, but the IRS does not care about popular opinions.

The only alternative to paying tax on these transactions is to try to claim them as like kind exchanges, which allow you to defer any capital gain until you dispose of the crypto that you bought in the exchange. To claim this you need to file IRS form 8824. Nobody ever actually does this. If you don't, you have no leg to stand on if you don't declare your gains when you trade between cryptos. Plus, it is likely that the IRS will not allow crypto to crypto exchanges as like kind transactions.

When you spend crypto on real world goods/services, you have realized a capital gain/loss on your crypto at the value of the crypto you have spent at the time of the transaction. Again, not a popular opinion, and again, the IRS doesn't care.

I expect numerous threads on this forum in 2018/2019 from people who are astonished to have heard from the IRS that it wants a lot in taxes, interest, and penalties on their crypto transactions. It is just not realistic to imagine that the IRS will ignore this very significant source of revenue.

They have data from the exchanges. We know about Coinbase. It is likely that they have data from the other exchanges as well.
19  Alternate cryptocurrencies / Altcoin Discussion / Re: Quantum computer will kill bitcoin on: December 10, 2017, 04:31:08 PM
I think there is a basic misunderstanding here. The Bitcoin blockchain does not store public keys; it stores public key hashes. When you do a transaction, your public key is checked against the public key hash in the blockchain to verify that it's your bitcoin, then the transaction can take place.

Quantum computers aren't particularly good at breaking hashes (which is why hash-based digital signatures are used in quantum resistant cryptography), and will not be able to get a public key from a public key hash anytime soon. The threat is that given a public key, they can calculate the private key and hijack the transaction. The window for doing this is at the time of the transaction and before the transaction is incorporated into the blockchain, because it is only then that the actual public key is exposed. If one were to keep some bitcoin in the address from which a transaction is sent, an attacker, having obtained the public key, could break it at his leisure and eventually access the rest of the bitcoin in that address. But this is already considered very bad practice and nobody does this.

The idea that the entire blockchain is vulnerable to a quantum computer is incorrect, at least for the forseeable future. Grover's algorithm can be used on a quantum computer to break hashes, but it's much less efficient than Shor's algorithm. Therefore ECC will be broken long before quantum computers can threaten hashes.

Or so I understand it.

The Quantum Resistant Ledger (QRL) is a coin that is designed to resist quantum computers. Others are Curecoin and Iota.
20  Alternate cryptocurrencies / Altcoin Discussion / Re: Tether: not even a scam on: November 28, 2017, 02:00:34 PM
Can anyone tell me why tether doesn't go beyond $1 even though it's below it now. I found it strange.

The price of Tether is supposed to always be $1. That's the whole point of Tether. It is a lot easier to keep it from going higher than $1 than it is to keep it from going lower.

Someone just pointed me out to a clause in their Terms and COnditions, saying that it should not be used for money laundering. I am unsure what all does that cover. But if they have the ability to pull out coins from someone's wallet who does that, then it would be the most stupid investment ever.

That's what you're worried about? Everybody has AML language. What should bother you is this:

...Tethers are not money and are not monetary instruments. They are also not stored value or currency.
There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.

And this:

We make no representations, warranties, or guarantees to you of any kind, including with respect to any right of redemption or exchange of Tethers for any property.

And this:

In the event of any inconsistency between these Terms of Service and any other policies, FAQs, whitepapers, or pages on the Site, these Terms of Service shall prevail.

So if Tether says one thing on its home page, and another in its TOS, the TOS win! So much for that guarantee that Tethers are always backed 1:1 with money in the bank.

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