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

[smooth]

Scalable I guess not in an abstract sense, I would have to agree. I was only really disagreeing that it is an urgent problem. At anything close to 8x the transaction size of BTC, I don't see a crisis.

You should. Every weakness of MRO could be improved by BCN devs in a second iteration and say "hey, you know what? BCN was the original but had problems... In terms of scalability it was DOA (dead on arrival). Now we fixed those problems and we launch BCN 2.0 (another coin), with new blockchain tech etc etc, that can scale". RIP BCN1 + clones + our money.

I suggest you sell now. I mean it.

[smooth]

The biggest thing Monero would benefit from right now, is a GPU miner.  CPU-only is a guaranteed way to put the majority of the coins in the hands of criminals/botnet owners.

Probably not, first of all they'll just sell the coins, at least until this coin is already very successful. Second of all, if the coin gets wide adoption then ordinary users can far outnumber botnets via a click-and-go wallet miner.

[eizh]

I wonder if concern trolls feel cognitive dissonance when declaring ring signatures 'unscalable' and then turning right around and talking about their currency adopting ring signatures in 'V2' to stay even. Fascinating.

[33zer0w0lf]

Extrempool Update

We have migrated to the latest pool platform, this will allows many more miners to connect and allow for a higher pool hash rate without causing a substantial load on the server.

also please redirect your miners to mro.extremepool.org instead of extremepool.org for MRO as http://extremepool.org is going to be a landing page where miners can choose from different cryptonote coins to mine.

Thank you for mining with us!

[smooth]

CPU only is fine, Darkcoin was supposed to be cpu only...but that didnt last long.

Most of the previous "CPU only" coins are really scams and the developers already have GPU miner or know how to write one. There are a very few exceptions, almost certainly including this one.

I don't expect a really dominant GPU miner any time soon, maybe ever. GPUs are just computers though, so it is certainly possible to mine this on a GPU, and there probably will be a some GPU miner, but won't be so much faster as to put small scale CPU miners out of business (probably -- absent some unknown algorithmic flaw).

EVeryone focuses on botnets because it has been so long since regular users were able to effectively mine a coin (due to every coin rapidly going high end GPU and ASIC) that the idea that "users" could vastly outnumber "miners" (botnet or otherwise) isn't even on the radar.  

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

That's what cryptonote wants to accomplish with this whole "egalitarian mining" concept. Whether it succeeds I don't know but we should give it a chance. Those cryptonote guys seem pretty smart. They've probably thought this through better than any of us have.

[Nekomata]

XMR is the future.

[darkota]

CPU only is fine, Darkcoin was supposed to be cpu only...but that didnt last long.

Most of the previous "CPU only" coins are really scams and the developers already have GPU miner or know how to write one. There are a very few exceptions, almost certainly including this one.

I don't expect a really dominant GPU miner any time soon, maybe ever. GPUs are just computers though, so it is certainly possible to mine this on a GPU, and there probably will be a some GPU miner, but won't be so much faster as to put small scale CPU miners out of business (probably -- absent some unknown algorithmic flaw).

EVeryone focuses on botnets because it has been so long since regular users were able to effectively mine a coin (due to every coin rapidly going high end GPU and ASIC) that the idea that "users" could vastly outnumber "miners" (botnet or otherwise) isn't even on the radar.  

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

That's what cryptonote wants to accomplish with this whole "egalitarian mining" concept. Whether it succeeds I don't know but we should give it a chance. Those cryptonote guys seem pretty smart. They've probably thought this through better than any of us have.

Yea, and guess what happens when you get free coins in your wallet just by devoting some of your CPU power to help secure the network?? Drastically lower prices of the coin, as everyone and their grandma would have piles of Monero...which is extremely stupid...

Also, darkcoin's darksend is already anonymous, not a matter of if it will be in the future when it already is...The implementation of Ring Signatures and I2P to Darkcoin are just bonuses to it's anonymity, where the masternodes will be used as incentive to uphold the network, and the I2P and Ring Sigs provide the anonymous aspects(the masternodes/darksend would also still provide anonymous transactions).

Essentially, darkcoin has/will have 3 things, Darksend/Masternodes, Ring Signatures, and I2P.....Perfect anonymity, compared to Monero's horrible scaling with Ring Signatures and it's unknown/botnet raped CryptoNight algorithm.

[smooth]

Yea, and guess what happens when you get free coins in your wallet just by devoting some of your CPU power to help secure the network?? Drastically lower prices of the coin, as everyone and their grandma would have piles of Monero...which is extremely unfair......

You realize the number of coins is constant? It doesn't increase the supply by having more people mine, it just spreads it out, which is exactly what you want. If the coins go into grandmas wallet, she probably keeps them until she wants to spend them on something (or maybe just keeps them). If they go to some professional or industrial miner they rapidly get sold off to pay for equipment, electricity, etc. The former is much better for the coin value, although that's not really the motivation for it.

Darkcoin

Oh, ok. Now I understand why you are here.

[eizh]

Essentially, darkcoin has/will have 3 things, Darksend/Masternodes, Ring Signatures, and I2P.....Perfect anonymity, compared to Monero's horrible scaling with Ring Signatures and it's unknown/botnet raped CryptoNight algorithm.

Technical illiteracy is fine, but contradiction a few words down the sentence? It's 2014. Even trolling requires minimum standards.

[darkota]

Essentially, darkcoin has/will have 3 things, Darksend/Masternodes, Ring Signatures, and I2P.....Perfect anonymity, compared to Monero's horrible scaling with Ring Signatures and it's unknown/botnet raped CryptoNight algorithm.

Technical illiteracy is fine, but contradiction a few words down the sentence? It's 2014. Even trolling requires minimum standards.

I though "competent" dev's would know that I meant the scaling issue would probably fixed by the time it's implemented on a coin not using the cryptonight protocol.

I don't own any darkcoin, I'm just using sheer specs to deliver an argument. So far, Darkcoin is much more promising than a half down, stoneage monero.

[AngusCanine]

Whats with the big slide down on polinex are there other exchanges with MRO. Would this be a good chance to buy in now?

[eizh]

Essentially, darkcoin has/will have 3 things, Darksend/Masternodes, Ring Signatures, and I2P.....Perfect anonymity, compared to Monero's horrible scaling with Ring Signatures and it's unknown/botnet raped CryptoNight algorithm.

Technical illiteracy is fine, but contradiction a few words down the sentence? It's 2014. Even trolling requires minimum standards.

I though "competent" dev's would know that I meant the scaling issue would probably fixed by the time it's implemented on a coin not using the cryptonight protocol.

I don't own any darkcoin, I'm just using sheer specs to deliver an argument. So far, Darkcoin is much more promising than a half down, stoneage monero.

Seeing as you capitalize Ring Signatures (tm?), I'm guessing you have no idea it's a cryptographic primitive rather than some proprietary lines of code. O(n) scaling is a property of this group, as a basic Google scholar search will tell you.

I'm really not sure why you feel qualified to comment on what's 'stoneage'. 'Sheer specs' aren't very helpful when you don't understand what you're actually reading.

[Brilliantrocket]

Whats with the big slide down on polinex are there other exchanges with MRO. Would this be a good chance to buy in now?

Remember that around 24k coins are being released per day. Absent significant developments over the next few weeks, the price will stagnate or even decline.

[strangewildthing]

Here's the spanking new Mining Pool for Monero!

http://www.extremehash.com

https://i.imgur.com/sZCFu4W.jpg

[Johnny Mnemonic]

The biggest thing Monero would benefit from right now, is a GPU miner.  CPU-only is a guaranteed way to put the majority of the coins in the hands of criminals/botnet owners.

Will Monero ever have a GPU miner?

CryptoNote is about more than just privacy. It's about freedom. That's the point of egalitarian mining. Live in an oppressive state? Fuck you, government! Anyone with an internet connection can download the miner and receive a fair share of money. What's the point of anonymous transactions if only priviledged individuals can get the coins? What's the point of a fair launch and fair distribution if the rich get disproportionately richer via priviledged mining?

I'm sorry if you have a snazzy GPU farm that you're dieing to take advantage of, but Monero doesn't play favorites. It goes against the entire philosophy of this currency. I'm fairly certain that the developers and other contributing parties agree with me (speak up if you don't). Even if they are unanimously brainwashed into thinking GPU mining is a good idea, I will fight tooth and nail to make sure it never gets implemented. I swear to God, I will haunt this thread for as long as it exists and scare the bejesus out of anyone who dares to come up with some half-brained argument to enable privileged mining.

[AngusCanine]

Whats with the big slide down on polinex are there other exchanges with MRO. Would this be a good chance to buy in now?

Remember that around 24k coins are being released per day. Absent significant developments over the next few weeks, the price will stagnate or even decline.

thanks

[eizh]

The biggest thing Monero would benefit from right now, is a GPU miner.  CPU-only is a guaranteed way to put the majority of the coins in the hands of criminals/botnet owners.

Will Monero ever have a GPU miner?

I think there probably will be one and it probably will be faster one-on-one compared to a CPU. Whether it will be faster for the same cost (fixed and/or electricity) remains to be seen. This is *much* more memory bound than scrypt, so the GPU/CPU performance ratio should be worse.

[battbot]

Does monero's wallet currently support anonymous transactions?  Or is it in development?

Thanks in advance.

[blaaaaacksuit]

Does monero's wallet currently support anonymous transactions?  Or is it in development?

Thanks in advance.

Anonymous transactions are native to the technology.

[neilh]

Anyone with an idea, I'm having problems with the .net gui

It seems like it gets stuck with just a few blocks remaining,
plus the address is always initializing.

I have published a new version of the wallet which will hopefully fix the problem (couldn't reproduce it on my machine, but I have a hunch where the problem was). Download: https://dl.dropboxusercontent.com/u/6522303/CryptoNoteWallet_latest.zip

And please, post feedback about the GUI in the GUI bounty thread. I probably miss posts about the GUI in this thread because it grows to fast

Excellent, I'll give it a try and report back in the gui thread.