[XMR] Monero - A secure, private, untraceable cryptocurrency

[SmoothCurves]

CT recently published this on Bytecoin: http://cointelegraph.com/news/114746/cryptonote-based-bytecoin-turns-3-plans-to-implement-colored-coins-smart-contracts

Notice how much Bytecoin love is on that page.

[nioc]

http://youtu.be/TyiurIr640I

Holy cow.

Tl;dw?   

Skimmed through a little, Bytecoin solicited CoinTelegraph for articles I think

It was started by the people behind bytecoin and started with pro bcn articles and some anti Monero ones mixed in with their coverage.  Evolved from there.  Writer being interviewed says they are scammers in how they treat the writers.

[binaryFate]

http://youtu.be/TyiurIr640I

Holy cow.

Tl;dw?   

TL;DW: We've revealed today that according to our sources, cointelegraph was allegedly owned and operated by bytecoin and early cryptonote coins. (Actual quote)

[americanpegasus]

http://youtu.be/TyiurIr640I

Holy cow.

Tl;dw?   

TL;DW: We've revealed today that according to our sources, cointelegraph was allegedly owned and operated by bytecoin and early cryptonote coins. (Actual quote)

 
 
lol.  Create what you fear the most.

[binaryFate]

For all those that are newbz enough to this whole story: cointelegraph repeatedly published articles that gave credit to the bytecoin and cryptonote team stories. I'm lazy to dig them now, and if you're lazy too I'm sure everything will surface again in the next days.

[Johnny Mnemonic]

http://youtu.be/TyiurIr640I

Holy cow.

Shocker, especially after articles like this: http://cointelegraph.com/news/114746/cryptonote-based-bytecoin-turns-3-plans-to-implement-colored-coins-smart-contracts

It's only a matter of time now before an ex-coindesk writer confirms darkcoin sponsorship and paid non-coverage of cryptonote. Edit: just checked... after a year and a half, the term "cryptonote" has been mentioned once on coindesk.com. Darkcoin? Mentioned in at least 35 different articles.

I stopped following all crypto-dedicated news sites after realizing just how corrupt most of them are.

[pa]

http://youtu.be/TyiurIr640I

Holy cow.

Here's the /r/Bitcoin discussion on this: https://www.reddit.com/r/Bitcoin/comments/3g1rpx/mad_bitcoins_on_twitter_the_truth_behind/

Edit: And here are all the CoinTelegraph articles mentioning "Bytecoin": http://cointelegraph.com/search?query=bytecoin

[kazuki49]

https://www.reddit.com/r/Bitcoin/comments/3g1rpx/mad_bitcoins_on_twitter_the_truth_behind/ctu7e3u

WHO ARE THOSE PEOPLE?

[–]IanGameWoof 2 points 19 minutes ago

I may not have explained that correctly. They asked me to investigate into accusations that Monero was mined exclusively (or almost exclusively) with malware powered botnets.

Instead, I found evidence that it was mostly mined with cloud computing. You can tell because the difficulty (at least around summer 2014) would mirror the prices at Amazon. When it went up, the difficulty went down and when it went down the difficulty went up.

So, when I tried to write that story, they killed it, so it never got published.

LOL

[smooth]

https://www.reddit.com/r/Bitcoin/comments/3g1rpx/mad_bitcoins_on_twitter_the_truth_behind/ctu7e3u

WHO ARE THOSE PEOPLE?

[–]IanGameWoof 2 points 19 minutes ago

I may not have explained that correctly. They asked me to investigate into accusations that Monero was mined exclusively (or almost exclusively) with malware powered botnets.

Instead, I found evidence that it was mostly mined with cloud computing. You can tell because the difficulty (at least around summer 2014) would mirror the prices at Amazon. When it went up, the difficulty went down and when it went down the difficulty went up.

So, when I tried to write that story, they killed it, so it never got published.

LOL

Pretty much what I said last year. Difficulty was way too low to be dominated by botnets. Still is to a lesser extent. (I'm mining profitably while paying for electricity right now. If botnets really dominated that would be impossible.)

I think as many people have explained here many times mining is just not a good use for a botnet and has high costs in terms of bot attrition. So there is some of course, but it's self-limiting.

[americanpegasus]

I don't think it matters who mines. 
 
If you mine, you either keep the coins (good for the speculation stage of the coin) or you dump them onto an exchange. 
 
Dumping onto an exchange by miners isn't anything but a test of that coin's actual market.  If a coin is meant to die or waning in popularity, then yeah, the dumps will kill it. 
 
But if it is still inflating and people are growing in excitement about it, the whole process provides an elegant way to buy Monero at a competitive price that should be very close to its true market value (plus the cost of electricity to mine them). 
 
I have no desire to run a computer at 100c for a week just to earn 10 or 20 Monero, but I will happily go toss some money into an exchange for them.  Without anyone 'dumping' I wouldn't have that opportunity, so I've never been bothered by this behavior. 
 
I'm sure it sucks for coins that are in a weird limbo of still being profitable to mine but that don't have enough long-term prospects to justify the purchase of those coins off an exchange...  Perhaps in these cases it's best to see the writing on the wall: a new currency must have a unique and powerful reason to exist.

[5w00p]

 
I have no desire to run a computer at 100c for a week just to earn 10 or 20 Monero, but I will happily go toss some money into an exchange for them.  Without anyone 'dumping' I wouldn't have that opportunity, so I've never been bothered by this behavior.  
  

I know you were just making a point, but:

I think you underestimate the hashpower required under current block reward/difficulty XMR mining conditions.

You would need a VERY serious rig to mine 10, let alone 20, Monero in one week.

[smooth]

 
I have no desire to run a computer at 100c for a week just to earn 10 or 20 Monero, but I will happily go toss some money into an exchange for them.  Without anyone 'dumping' I wouldn't have that opportunity, so I've never been bothered by this behavior.  
  

I know you were just making a point, but:

I think you underestimate the hashpower required under current block reward/difficulty XMR mining conditions.

You would need a VERY serious rig to mine 10, let alone 20, Monero in one week.

Yes but imagine you manage to mine just 1 XMR, and then decide to hold it for 10 years. Wow!

[GingerAle]

 
I have no desire to run a computer at 100c for a week just to earn 10 or 20 Monero, but I will happily go toss some money into an exchange for them.  Without anyone 'dumping' I wouldn't have that opportunity, so I've never been bothered by this behavior.  
  

I know you were just making a point, but:

I think you underestimate the hashpower required under current block reward/difficulty XMR mining conditions.

You would need a VERY serious rig to mine 10, let alone 20, Monero in one week.

Yes but imagine you manage to mine just 1 XMR, and then decide to hold it for 10 years. Wow!

and then add on top of that the fact that NO ONE knows you ever acquired that 1 XMR. There's no fiat -> xmr path.

[birdcat90]

does mining monero still profitable?

it looks like better buy monero on exchange and use it for trading,,the most simple thing to do without harming your computer..hehe

[cAPSLOCK]

Interesting related news...  effect on us?
https://www.bitfinex.com/pages/announcements/?id=49

[camu6]

Interesting related news...  effect on us?
https://www.bitfinex.com/pages/announcements/?id=49

Well.. two coins competing for the same niche, one is booted from finex because of low volume, while the other one is having a >700 BTC 24h volume.

It probably won't convince the hardcore dashcoiners but it is another great sign for monero supporters.

IMO Dash is dumping and will dump more because of this.

[smooth]

Interesting related news...  effect on us?
https://www.bitfinex.com/pages/announcements/?id=49

Well.. two coins competing for the same niche, one is booted from finex because of low volume, while the other one is having a >700 BTC 24h volume.

It probably won't convince the hardcore dashcoiners but it is another great sign for monero supporters.

IMO Dash is dumping and will dump more because of this.

i.e. Dash collapsing. Monero UP.

In all seriousness I don't think it means a lot, other than Dash not taking off explosively (which might well be bad for Monero). The challenges we face in achieving a high level of relevance in the world have very little to do with Dash.

[dEBRUYNE]

https://medium.com/zapchain-magazine/why-one-bitcoin-developer-thinks-cryptocurrencies-have-a-dreadful-future-93007cff1613

“I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds."

It's like all us moneronians (is that right?) have super secret powers to see the future! Or they're regular powers to see the obvious and most people aren't capable of simple foresight. Either way, i see a big "I told you so" coming, lol.

Dnaleor was already predicting this some months ago:

https://www.reddit.com/r/Bitcoin/comments/374ss5/the_problem_with_bitcoin_that_everyone_seems_to/

[dreamspark]

Ok so I've only just found out that smooth is also developing another crytonote coin.

Question, is this more of a test bed for features you think maybe useful to XMR or are you working on it as a competing currency?

Of course you are free to do what you like with your time, just as a member of the core team for XMR it just seems strange.

[dEBRUYNE]

Ok so I've only just found out that smooth is also developing another crytonote coin.

Question, is this more of a test bed for features you think maybe useful to XMR or are you working on it as a competing currency?

Of course you are free to do what you like with your time, just as a member of the core team for XMR it just seems strange.

He already answered this question on reddit, read from here on -> https://www.reddit.com/r/Monero/comments/3f28bk/whats_the_deal_with_aeon_coin_serious/ctkn0h0

TL:DR: More or less an experimental coin, not really competing but more collaborating since relevant things will get merged upstream to XMR.