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Author Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency  (Read 4461571 times)
binaryFate
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January 16, 2015, 03:07:20 PM
 #19121

Hi, I'm really excited about this crypto projet, it seems like a better Bitcoin overall, especially after reading this: https://www2.informatik.hu-berlin.de/~verbuech/klepto-ecdsa/klepto-ecdsa.pdf

Now not only it is a danger to use Bitcoin because all your coins are in "public" but wallets thought to be cold wallets could be hacked, I see with Monero its impossible to determine any wallets balance so even if this Bitcoin exploit applies it would not be easy to steal the coins  Smiley

Hey, welcome!

The paper you're linking is about a malicious implementation of ECDSA. It's nothing really new or scary. You can only steal coins of people that generated their cold wallet using your malicious implementation, not steal any wallet created on a sane implementation a posteriori. Monero is obviously not immune to this kind of exploit either. If you assume some part of the crypto primitives are malicious then every crypto-applications that we know would be exploitable.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
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David Latapie
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January 16, 2015, 03:28:02 PM
 #19122

Welcome and as binaryfate said, this is not scary and definitely not the best reason to choose Monero.

Here they are: Why Monero

Monero: the first crytocurrency to bring bank secrecy and net neutrality to the blockchain.HyperStake: pushing the limits of staking.
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January 16, 2015, 03:48:17 PM
 #19123

Question: are exchanges and marketplaces always going to need to custom build the architecture to automate XMR deposits? We have this situation with Cryptsy where Monero is the top voted coin to be added to the marketplace, but they are too busy to do the work to change it. Can there never be a plug and play solution for exchange and marketplace owners? This is really a problem for all Cryptonote coins so Nicolas van Saberhagen, zoidberg, and anyone else in the Cryptonote family should be united with you guys (XMR devs) on this if nothing else.

TheKoziTwo is working on a payment gateway.  He ran the first BCN/XMR exchange and helped get Poloniex set up for CN coins.

Maybe we can bribe him to go faster...   Tongue  The least we can do is reimburse his dev fund contribution.


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"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
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January 16, 2015, 04:30:44 PM
 #19124

Welcome and as binaryfate said, this is not scary and definitely not the best reason to choose Monero.

Here they are: Why Monero

Good to know as I still plan to keep using BTC, still XMR really promises a lot for privacy and real e-cash network.
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January 16, 2015, 05:12:21 PM
 #19125

You can connect your simplewallet to a public node (subject to some security downgrade considerations). One such node is https://www.moneroclub.com/node. This will require a lot less RAM.
The view key can not yet be used for this, as there are no available tools for this yet. It is one of the intended purposes of the view key, though.
Can you provide instructions to be added to this page: How to use a remote node? Please make it so that I don't have to refomulate, just check-copy-paste. Thank you.

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January 16, 2015, 05:46:49 PM
 #19126

I can also confirm that the DB version is working  Grin

I've been running it for the past days, I've synced the blockchain from scratch and have made a few transfers, and so far it has worked great! In my case it's using around 300 Mb of RAM right now.

I encourage all Linux users to try it out. If anyone is interested in downloading the blockchain in DB format let me know and I'll upload it somewhere.
For those who don't have an SSD, I recommend applying these changes for better performance: https://bitcointalk.org/index.php?topic=583449.msg9610064#msg9610064 (the line number may have changed, but the code to replace it's still the same)


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January 16, 2015, 06:40:39 PM
 #19127

I can also confirm that the DB version is working  Grin

I've been running it for the past days, I've synced the blockchain from scratch and have made a few transfers, and so far it has worked great! In my case it's using around 300 Mb of RAM right now.

I encourage all Linux users to try it out. If anyone is interested in downloading the blockchain in DB format let me know and I'll upload it somewhere.
For those who don't have an SSD, I recommend applying these changes for better performance: https://bitcointalk.org/index.php?topic=583449.msg9610064#msg9610064 (the line number may have changed, but the code to replace it's still the same)



Working fine for me on linux, but getting cmake to work on windows has cost me too much time -- have to give up until someone else provides instructions, given time constraints.  Got so close with msys2 cmake and visual studio but the project files won't load in my VS Express.  (Refuse to pay MS for polluting language standards, so I go with the free kit.)

i do hate cmake with a passion.  why does nobody just write a nice portable GNU makefile?  it's not rocket science.  cmake syntax alone is so repugnant, i can barely stand to run it.  auto tools are way worse, but cmake is so redundant when GNU make covers it so well.
ah well, just a hobby horse pet peeve of mine.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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January 16, 2015, 06:42:26 PM
 #19128

Idea:  Development bond, denominated in XMR, sold for BTC, priced 100% over market at offer date.  Development bond pays 8% annual interest in XMR in quarterly coupons, 5 year maturity.  Seller hedges by buying enough XMR to redeem all bonds at maturity.  The result is that ~51% of the bond fix premium funds development, and 49% becomes an XMR profit to the buyer.

Buyer motivation:  Increase XMR holdings, while contributing to the appreciation of the value of XMR as a commodity.
Seller motivation:  Fund development with a fair offer.


surprised that this did not elicit any comments.  i expected a very vociferously bimodal response pattern.  is it really so UNINTERESTING an idea as to provoke such impoverished affect?

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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January 16, 2015, 06:46:47 PM
 #19129

Idea:  Development bond, denominated in XMR, sold for BTC, priced 100% over market at offer date.  Development bond pays 8% annual interest in XMR in quarterly coupons, 5 year maturity.  Seller hedges by buying enough XMR to redeem all bonds at maturity.  The result is that ~51% of the bond fix premium funds development, and 49% becomes an XMR profit to the buyer.

Buyer motivation:  Increase XMR holdings, while contributing to the appreciation of the value of XMR as a commodity.
Seller motivation:  Fund development with a fair offer.


surprised that this did not elicit any comments.  i expected a very vociferously bimodal response pattern.  is it really so UNINTERESTING an idea as to provoke such impoverished affect?


I found it interesting, but I lack the financial acumen to develop this into a reality.

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January 16, 2015, 06:47:24 PM
 #19130

Idea:  Development bond, denominated in XMR, sold for BTC, priced 100% over market at offer date.  Development bond pays 8% annual interest in XMR in quarterly coupons, 5 year maturity.  Seller hedges by buying enough XMR to redeem all bonds at maturity.  The result is that ~51% of the bond fix premium funds development, and 49% becomes an XMR profit to the buyer.

Buyer motivation:  Increase XMR holdings, while contributing to the appreciation of the value of XMR as a commodity.
Seller motivation:  Fund development with a fair offer.


surprised that this did not elicit any comments.  i expected a very vociferously bimodal response pattern.  is it really so UNINTERESTING an idea as to provoke such impoverished affect?


I think 5 year maturity is... well, very long.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
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January 16, 2015, 06:49:29 PM
 #19131

I understand the buyer motivation but not too sure about the seller motivation.

Idea:  Development bond, denominated in XMR, sold for BTC, priced 100% over market at offer date.  Development bond pays 8% annual interest in XMR in quarterly coupons, 5 year maturity.  Seller hedges by buying enough XMR to redeem all bonds at maturity.  The result is that ~51% of the bond fix premium funds development, and 49% becomes an XMR profit to the buyer.

Buyer motivation:  Increase XMR holdings, while contributing to the appreciation of the value of XMR as a commodity.
Seller motivation:  Fund development with a fair offer.


surprised that this did not elicit any comments.  i expected a very vociferously bimodal response pattern.  is it really so UNINTERESTING an idea as to provoke such impoverished affect?

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January 16, 2015, 06:50:44 PM
 #19132

..... BS about another scam coin

GO AWAY!
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January 16, 2015, 07:01:24 PM
 #19133

I understand the buyer motivation but not too sure about the seller motivation.

Idea:  Development bond, denominated in XMR, sold for BTC, priced 100% over market at offer date.  Development bond pays 8% annual interest in XMR in quarterly coupons, 5 year maturity.  Seller hedges by buying enough XMR to redeem all bonds at maturity.  The result is that ~51% of the bond fix premium funds development, and 49% becomes an XMR profit to the buyer.

Buyer motivation:  Increase XMR holdings, while contributing to the appreciation of the value of XMR as a commodity.
Seller motivation:  Fund development with a fair offer.


surprised that this did not elicit any comments.  i expected a very vociferously bimodal response pattern.  is it really so UNINTERESTING an idea as to provoke such impoverished affect?


my lack of response was due to the (what I think would be an) inherent trust system required for such a vehicle. Who sells it? The core team? They'd be the most trustworthy I guess, but I don't wanna slog them with more work.

Do we build a "smart contract" (whatever the hell that is) on the mastercoin network? Or ethereum?

Or is it a wallet bot of some kind? Or just a multisig wallet controlled by an algorithm?

so yeah - my initial lack of reaction was due to the centralized nature of such a mechanism in a de-facto decentralized community....

< Track your bitcoins! > < Track them again! > <<< [url=https://www.reddit.com/r/Bitcoin/comments/1qomqt/what_a_landmark_legal_case_from_mid1700s_scotland/] What is fungibility? >>> 46P88uZ4edEgsk7iKQUGu2FUDYcdHm2HtLFiGLp1inG4e4f9PTb4mbHWYWFZGYUeQidJ8hFym2WUmWc p34X8HHmFS2LXJkf <<< Free subdomains at moneroworld.com!! >>> <<< If you don't want to run your own node, point your wallet to node.moneroworld.com, and get connected to a random node! @@@@ FUCK ALL THE PROFITEERS! PROOF OF WORK OR ITS A SCAM !!! @@@@
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January 16, 2015, 07:05:27 PM
 #19134

Im the dev of SCSY he is posting fud everywhere

GET A LIFE



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January 16, 2015, 07:07:39 PM
 #19135

Basic use: !dice 0.1 1.5For an explanation of how the provably fair system works, see !fair. There is even sample Python code supplied to check fairness of past rolls.
Do you plan to allow investement, like in JD?

No I don't. Maybe that's something that could be revisited at some point if volume picks up and a need for this arises.

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January 16, 2015, 07:13:06 PM
 #19136

Can you provide instructions to be added to this page: How to use a remote node? Please make it so that I don't have to refomulate, just check-copy-paste. Thank you.

I'm not sure I understand. There are instructions at this page. Are you saying they're wrong or deficient in some way, and want new instructions ?
If you just mean adding a note about this particular node, then you can add this at the end:

Tip4:
An alternative open monero node is maintained by Atrides, and may be used instead of hegemoon's node by replacing xmr1.coolmining.club:5012 with node.moneroclub.com:8880. See more details about this node at https://www.moneroclub.com/node.

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January 16, 2015, 07:19:10 PM
 #19137

Idea:  Development bond, denominated in XMR, sold for BTC, priced 100% over market at offer date.  Development bond pays 8% annual interest in XMR in quarterly coupons, 5 year maturity.  Seller hedges by buying enough XMR to redeem all bonds at maturity.  The result is that ~51% of the bond fix premium funds development, and 49% becomes an XMR profit to the buyer.

Buyer motivation:  Increase XMR holdings, while contributing to the appreciation of the value of XMR as a commodity.
Seller motivation:  Fund development with a fair offer.


surprised that this did not elicit any comments.  i expected a very vociferously bimodal response pattern.  is it really so UNINTERESTING an idea as to provoke such impoverished affect?


Here, I'll oblige you on the vociferously bimodal response pattern and raise you with contradiction:

It's an incredibly stupid idea, which is exactly why you should make it happen. 
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January 16, 2015, 07:50:58 PM
 #19138

Idea:  Development bond, denominated in XMR, sold for BTC, priced 100% over market at offer date.  Development bond pays 8% annual interest in XMR in quarterly coupons, 5 year maturity.  Seller hedges by buying enough XMR to redeem all bonds at maturity.  The result is that ~51% of the bond fix premium funds development, and 49% becomes an XMR profit to the buyer.

Buyer motivation:  Increase XMR holdings, while contributing to the appreciation of the value of XMR as a commodity.
Seller motivation:  Fund development with a fair offer.


surprised that this did not elicit any comments.  i expected a very vociferously bimodal response pattern.  is it really so UNINTERESTING an idea as to provoke such impoverished affect?


I found it interesting, but I lack the financial acumen to develop this into a reality.

Same here.  I love the idea but wouldn't know where to begin.  I'm really a novice when it come to Monero or any digital coin for that matter and I'm not a programer.  I follow this coin because I love the community and also where the Dev's are taking it.  I would love to see a bond like this though. I'd put in 25 - 100 XMR to start.   I have been donating to projects because I see the snow ball effect starting to happen with Monero.  I think its a matter of timing and the right person to take on a project like that.  Just my two cents worth.

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January 16, 2015, 09:20:05 PM
 #19139

Okay, so regarding the development bond, consider this a solicitation of expressions of interest.  PM me with the XMR par value total you would be interested in.  No prospectus will be provided unless expressions of interest reach a useful total sum.  All replies in PM will be held in confidence.  If you require a non BTCT secure channel, send me a PGP public key.  Expressions of interest do not constitute any form of contract.

Yes it would be feasible to do this as a smart contract (hence distributed and cryptographically secured) were it to pay in something other than XMR.  If I have time, I will look into ways of doing this for XMR.  The fallback would be to put the hedging funds into a wallet with a published viewkey and have an underwriter you can sue or whatever.  If your interest is conditional on a viable smart contract format, please mention that in any message to me.

This will, if completed, probably be a Reg S debt offering under U.S. law:  It will all be done offshore, on the good faith understanding that no U.S. persons are solicited.



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January 17, 2015, 02:21:50 PM
 #19140

sorry windows folks - I don't think I'll be able to come up with a noob approved way to test run the new fancy database in any reasonable amount of time. I've only gotten this far due to the ability to copy and paste stuff into terminal. This windows build is beyond that at this point (as far as I can tell)

I leave this in the hands of the core devs or any one with a better skill set.

I highly recommend exploring Ubuntu though. I thought linux was scary too, then I installed ubuntu, and now I'd rather boot into ubuntu (only use windows if I absolutely have to).

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