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Author Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency  (Read 4548637 times)
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December 05, 2014, 02:59:56 PM
 #17641

Monero XMR / BTC   0.00116
I'm in panic.
Sell or wait?


Did the fundamentals change? If you invested for the long time based on the fundamentals it would be irrational to sell then and you should have known that altcoins have a lot of volatality. If you can't handle the volatality you probably invested to much. I am not a trader, so can't give an opinion on short term.
I invested + mined.
Just this price is too low and I would invest even more if I had.
Too bad I'm out of funds for investitions, and if this one go bad, I'm broke.

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December 05, 2014, 03:01:43 PM
 #17642

Quote
Instead pointing out that Monero will "just be like Bitcoin" and somehow I doubt that will be enough for the holy grail (it isn't "golden" you infidel  Tongue) of crypto, the "mass adoption". If we are honest with ourselfes, goals, targets than it isn't merely about value, it is all about adoption.


We never said it will just be like Bitcoin.
I think we already stated multiple times that anonymity won't be the only point of Monero, but its a must have.

Mining decentralisation is one of the things that will be worked on for sure.


Quote
If you're a darknet operator, this isn't a dick measuring contest, it's the difference between jail time and freedom. It'd be nice to hear from non-investors on the matter and have a legitimate discussion on which coin(s) is anonymous and which one(s) is just claiming to be anonymous--neutral territory, of course.

If you want opinions from neutral people who have no hedge in monero, maybe read the post from gmaxwell (nullc): https://news.ycombinator.com/item?id=7765455
Or Andytoshis post on stackexchange: http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies


Why hasn't this been answered?

Quote

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

Now, for the simple answer: use Monero

And for the longer answer: read Andrew Poelstra's very informative reply.

I would also add the following:

    Zero-Knowledge Proof has several of fundamental issues that may not even be fixable (from the less critical to the most critical): trusted accumulator, lack of academic research, obscuring the whole economy means that it is impossible to notice a bug until the economy had already been badly damaged. See our comparison on Monero ANN.
    The CryptoNote technology is sound, but most actual implementation of it are not -- Boolberry and particularly Monero being the only ones worth considering, on the grounds of market confidence, activity and volume.
    Monero also works with the i2p initiative to obsfuscate IP (the only thing left visible once CryptoNote is in action).

shareimprove this answer
   
edited Aug 30 at 10:58
Alex F.
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answered Aug 24 at 0:25
user10822
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1    
   
Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

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December 05, 2014, 03:21:34 PM
 #17643

Monero XMR / BTC   0.00116
I'm in panic.
Sell or wait?


Is anyone in team working on Monero usage online?
I mean, I wanna buy a domain name with Monero, I wanna pay hosting with Monero, I want to buy a phone with Monero ... dating, gambling... so many options.
Monero is very good alt coin, but if there is no usage, value is equal to zero.
Only mine and sell or just keep? Why?

I would advise you to stop paying so much attention to price and instead put your skills to use. Develop a project to improve monero adoption, start an aware raising campaign or whatever. Maybe when you (and others) are done and things start to fall into place we will all be pleasantly surprised. Cheesy

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December 05, 2014, 04:03:29 PM
 #17644

Does anybody know what's the hash rate of Monero vs Boolberry, as well as how many miners in both (miner distribution graph?)?
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December 05, 2014, 04:29:31 PM
 #17645

hi there; I have a problem with an old wallet.

I mined like 200 xmr a long time ago (before seed) and now i can't import the wallet.

i use gui wallet; i can create a new wallet and it's working but i can't import the old one; it's stuck with "initializing" (blockchain is downloaded etc)

at some point i saw my balance after 20 wallet reboot then it crashed;

anybody can help ?

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December 05, 2014, 04:47:50 PM
 #17646

Thanks, you're welcome.
Tip create mymonero twitter account for promotion.

https://twitter.com/mymonero

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December 05, 2014, 05:35:47 PM
 #17647

Is anyone in team working on Monero usage online?
I mean, I wanna buy a domain name with Monero, I wanna pay hosting with Monero, I want to buy a phone with Monero ... dating, gambling... so many options.
Monero is very good alt coin, but if there is no usage, value is equal to zero.
Ill date you for Monero. :p
I want to date just your Monero. I am a duck wearing a swimming suit.

Oh come on! Funnny! Break a smile  Cheesy
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December 05, 2014, 05:39:56 PM
 #17648

Just followed!

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December 05, 2014, 05:42:25 PM
 #17649

Monero XMR / BTC   0.00116
I'm in panic.
Sell or wait?



Sell and re-buy in january when GUI/DB is completed.
you mean sell low and buy high?

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December 05, 2014, 05:43:11 PM
 #17650

Be carefull, mixing factor, ...does not offer 0 for that. Some exchange sites stumble over that.
I find it interesting that you say that because I deal with an exchange site which denies receipt of a deposit with a non-zero mixin, unique among all of my many deposits, among which it is the only one which used a non-zero mixin.  I think it is reasonable to believe, on Bayesian reasoning, that they are lying thieves and I know of no other explanation.  Do you?  
The subset of exchange sites where I subscribed is rather small, a requirement for non-zero mixing does not exist there, had never seen that. The bigger sites want to offer $ exchange some day, so naturaly act more open and transparent.
Consider there is not even a need to hide how many XMR you bought, since that is not equalling your stack size, because of trade. The easy lying thieves detection test: They do refund yes/no?

Hmmm non-zero mixing, on the long we all will have to use that, because of?
Quote
With ring signatures, the anonymity set is only as large as you make it, probably just two or three potential keys per signature.
Quote
With ring signatures, your anonymity can be compromised after the fact by others in your anonymity set. For example, if you spend an output using a ring signature along with two other outputs, then those other outputs' owners spend them with a single-signature ring signature (so they are incontrovertibly spent), it is now clear which of the three you used is yours, since each can be spent only once. This can be done long after the fact, which complicates analysis.
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December 05, 2014, 06:28:15 PM
 #17651

Monero XMR / BTC   0.00116
I'm in panic.
Sell or wait?



Sell and re-buy in january when GUI/DB is completed.
you mean sell low and buy high?

It's better to get back some then none?
If price continue to fall this fast as it is now, in next 5 days price will be a half from this one which is horrible.

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December 05, 2014, 07:11:33 PM
Last edit: December 05, 2014, 07:32:50 PM by statdude
 #17652

Monero XMR / BTC   0.00116
I'm in panic.
Sell or wait?



Sell and re-buy in january when GUI/DB is completed.
you mean sell low and buy high?

It's better to get back some then none?
If price continue to fall this fast as it is now, in next 5 days price will be a half from this one which is horrible.

Without regular whale support OR user growth as we had from May-September, XMR has found a new equilibrium (still going down, though), fully mined ~ $10 mm, close to DarkCoin and CounterParty POS cap (and 1/3 of the old base).

Unfortunately, this does make some rational sense, as Monero probably has a smaller community of users than either of those currently. In fact, it seems possible to even continue downward without either user growth or buy support.  

Why did growth dry up at the end of September? Regular interest is still there - just not the requisite growth needed to support emission.

I'd originally thought tales of emission being dumped were a myth, but the fact that XMR hashrate has hardly changed through the price drop makes me think it's driven by botnets with free-electricity, who freely dump the 20k daily XMR at market, causing more dumps from weak hands.

Being more "fairly distributed" has been both a blessing and a curse - in the long run, it should lend XMR much credibility as an everyday "cash" like BTC (not a "stock" like many IPO app-coins), but in the short run, we are realizing the effects of this daily downward price pressure versus stagnant user growth.

The only "cure" to all of this is new users to start joining us again, most likely driven by continued development of platform and economy by both dev team and users. Will those with strong hands currently accumulating large amounts of XMR hold strong on the way back up? If so, resistance will be very thin, if and when that day comes. In the meantime, bless us holders.


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December 05, 2014, 07:38:20 PM
 #17653

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.
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December 05, 2014, 08:14:19 PM
 #17654

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.

It's not just XMR but other legitimate coins are being sold off while money keeps flowing into ICO's that are nothing more than vaporware.  People don't want to wait.  They see a snazzy graphic and a bunch of "Change the World" promises and they jump.  People are just chasing after the next pump and dump. 

I posted in this thread some time ago that people were not going to wait months for a GUI or even a decent website.  I got berated yet I was correct.  People are not going to wait when they see these other coins pop up out of nowhere and soar in value. 

I have nothing bad to say about the dev team.  They all have lives, families, jobs etc...  They can't be expected to accomplish these things on their own time for little or no compensation.  It's just an unfortunate situation.  Monero needed rapid development months ago.  The Monero community needs to figure out a way to pay the devs so they can focus on development .  Some of those ICO's are raising hundreds of thousands of dollars for nothing more than a concept and a bunch of promises while existing and promising tech flounders for lack of funding.
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December 05, 2014, 08:47:24 PM
 #17655

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.

It's not just XMR but other legitimate coins are being sold off while money keeps flowing into ICO's that are nothing more than vaporware.  People don't want to wait.  They see a snazzy graphic and a bunch of "Change the World" promises and they jump.  People are just chasing after the next pump and dump. 

I posted in this thread some time ago that people were not going to wait months for a GUI or even a decent website.  I got berated yet I was correct.  People are not going to wait when they see these other coins pop up out of nowhere and soar in value. 

I have nothing bad to say about the dev team.  They all have lives, families, jobs etc...  They can't be expected to accomplish these things on their own time for little or no compensation.  It's just an unfortunate situation.  Monero needed rapid development months ago.  The Monero community needs to figure out a way to pay the devs so they can focus on development .  Some of those ICO's are raising hundreds of thousands of dollars for nothing more than a concept and a bunch of promises while existing and promising tech flounders for lack of funding.

If there was a proper funding framework in place this could be improved significantly. These hodgepodge funding methods that have been going on are not going to cut it. Yes I know, it's an open project & I should do it instead of blabbering about it. Well I don't have the skills & knowledge, but it's obvious it is greatly needed to further ensure XMR's survival. Myself & surely others could put up a bounty for someone to implement a in-depth bounty & funding framework. Per-task bounties, funding current dev's, hiring more/full-time dev's & paying for professional services such as code review, cryptography review, etc need to be covered in a way that donators know exactly what features, tasks, initiatives they are funding, how much & why they cost, priority that they will receive, etc, etc, etc. This can act as a voting system for feature prioritization as well. The amount of donations features & tasks receive speaks more honestly that any other consensus IMO (yes in ways it is still vulnerable to a wealthy enemy, most things are.) This is about as sybil-resistant a voting system as we can get. Anyways, Mike Hearns Lighthouse Project (http://blog.vinumeris.com/2014/05/17/lighthouse/)  comes to mind when thinking what this might look like. Build the network of investors/donators & developers working on the coin with a frictionless platform to connect, inform & enable them, accelerating the development, attracting more investors/developers/community members. It becomes a self feeding, accelerating loop.

What about even forking Lighthouse for XMR. Possible? (http://blog.vinumeris.com/2014/05/17/lighthouse/)
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December 05, 2014, 10:32:15 PM
 #17656

Inflation kills this coin. Is not it clear?

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December 05, 2014, 10:39:19 PM
 #17657

Inflation kills this coin. Is not it clear?

the first 2 years will be so  Grin

edit:
I'm a huge loss already made me funny
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December 05, 2014, 10:40:29 PM
 #17658

Why hasn't this been answered?
Quote
First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.
http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies
I knew this writing style sounded familiar Smiley

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December 05, 2014, 10:44:10 PM
 #17659

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.
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December 05, 2014, 10:58:31 PM
 #17660

If there was a proper funding framework in place this could be improved significantly.
As we (and fluffypony in particular), stated it, the issue is not funding (not now), but finding good enough developper and them familiarizing themselves with the code. More money won't make things evolve faster, at least for the coin.

Same thing for "code review, cryptography review": code review is being done as we speak, and cryptography review also - we exchange with our academic cryptographer on a litterally daily basis.

I did not know Lighthouse, seems interesting

sr: "stop trading, baby" ;-)

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