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

[rickgejr]

The potential for 51% attack on Monero was discussed a few years ago here:

https://www.reddit.com/r/Monero/comments/26lqrp/what_about_51/

...that there can be no double spends. Has that changed?

But what of "breaking consensus?"

[cryptomaxsun]

Tell me, how much weight blockchain Monero?
And it is possible to run gui-wallet without downloading the entire blockchain?

[dEBRUYNE]

Tell me, how much weight blockchain Monero?
And it is possible to run gui-wallet without downloading the entire blockchain?

[1] Around 8-9 GB.

[2] Yes, you can use a remote node. However, it is discouraged to use one, because it's detrimental to privacy. Instructions on how to use a remote node with the GUI can be found here:

https://getmonero.org/2016/12/22/monero-core-gui-beta-released.html

[cryptomaxsun]

Tell me, how much weight blockchain Monero?
And it is possible to run gui-wallet without downloading the entire blockchain?

[1] Around 8-9 GB.

[2] Yes, you can use a remote node. However, it is discouraged to use one, because it's detrimental to privacy. Instructions on how to use a remote node with the GUI can be found here:

https://getmonero.org/2016/12/22/monero-core-gui-beta-released.html

Thank you, very grateful!

[MoneroMooo]

The potential for 51% attack on Monero was discussed a few years ago here:

https://www.reddit.com/r/Monero/comments/26lqrp/what_about_51/

...that there can be no double spends. Has that changed?

But what of "breaking consensus?"

Nothing's changed. I think he meant that Monero is double spend proof in the absence of the ability to reorganize the chain (ie, key images ensure that an output can't be spent twice).
I've asked him if that's what he meant, but as far as I know, someone with enough hash to rewrite the chain is able to double spend, as in other coins.

[rickgejr]

@MoneroMooo

Wow.

[pönde]

When using cli or gui and sending some xmr away, is the exhcange returned to the same address of the seed? So can the wallet files be deleted and later the wallet recovered with the original seed with the exchance and rest of the xmr inside?

Yes, you need only seed (25 words) to restore your wallet.
To be sure just do it yourself in gui or cli wallet and check that generated monero address exactly the same everytime.

Yes. Thats deninitely true. The same seed generates definitely the same address every time.

But main question is, does the Monero differ from Bitcoin in the way that exchange of an transaction is returned when send transaction is made for a part of the bitcoins in the address.

In the case of Bitcoin next happens. When address A contains 10 BTC and 3 of them are sent to the address B. Wallet application takes all 10 BTC out of address A, sends 3 BTC to address B and creates new address C to the wallet application itself and sent the remaining 7 BTC the exchange there to address C. And now the address A is empty.

If user thinks that the remaining 7 BTC are in the address A stores it and its private key, and deletes the wallet files, he loses those 7 BTC which are in the address C. So he has to safe the adress C and more precisely the private key of the address C to have access to those 7 BTC, before he deletes the wallet applicatios file.

But I gues the Monero works different way? The way that an ordinary human is expects the wallet to behave. When a send transaction is made, the Monero wallet, CLI and GUI send the remaining XMR, the exchange back to the original address which has been created from a 25 word seed?

So when the user just stores the 25 word seed, he has access to all the XMR and the exchange of the transactiosn in spite of how many send transactions and received transactions has been made from the address that has been generated from that seed?

When using cli or gui and sending some xmr away, is the exhcange returned to the same address of the seed? So can the wallet files be deleted and later the wallet recovered with the original seed with the exchance and rest of the xmr inside?

Correct.

Propably dEBRUYNE here understood what I originally ment? Like I explained above.

[vleroybrown]

Is there a solid dice site for Moreno? 

[dEBRUYNE]

When using cli or gui and sending some xmr away, is the exhcange returned to the same address of the seed? So can the wallet files be deleted and later the wallet recovered with the original seed with the exchance and rest of the xmr inside?

Yes, you need only seed (25 words) to restore your wallet.
To be sure just do it yourself in gui or cli wallet and check that generated monero address exactly the same everytime.

But I gues the Monero works different way? The way that an ordinary human is expects the wallet to behave. When a send transaction is made, the Monero wallet, CLI and GUI send the remaining XMR, the exchange back to the original address which has been created from a 25 word seed?

So when the user just stores the 25 word seed, he has access to all the XMR and the exchange of the transactiosn in spite of how many send transactions and received transactions has been made from the address that has been generated from that seed?

Correct. The change is sent back to the same public address as the transaction originated from. This is different from Bitcoin, where usually change is sent back to a different public address.

[dEBRUYNE]

Is there a solid dice site for Moreno? 

MoneroDice is run by Fluffypony, who is a Monero core-team member.

https://MoneroDice.net

[CryptoRambler]

Call me crazy but I believe this is an optimal time to go short on XMR...  fall back to roughly $4-$5 USD.  I don't think it will fall as much this time but it will consolidate.

I think you have a good point. What bothers me is the speculation and the whales.

If you look you will see that most of Monero's trade is from on particular exchange. One good leg to stand on. Maybe another half-leg. Then some toes.

Whereas Bitcoin has many legs, besides the many exchanges. And I realize that Bitcoin is not private.

If Monero is adopted by more exchanges then I think we could see a serious and stable upswing.

Certainly this exposure is getting Monero noticed, however.

As for Zcash (mentioned as a competitor to Monero) I don't think, based upon it's premine and even if all of the gurus of cryptocurrency pay homage, that it will take off. It can be traced if certain parties allow it during transactions, as I understand it. If that is so, it's a half-measure, attempting to play the middle. Between allowing regulation and providing privatization. There is no such place. It's a simple Bitcoin knock-off with a few new bells and whistles, not to mention the premine -- again.  

What is the problem with the premine?

You are simply misinformed. XMR represents real tech. Go short, best you get is $10. Keep holding though. Please let us know when you take a short position, and at what price. Otherwise, you are simply a troll.

[rickgejr]

@CryptoRambler:

You spoke about a premine. I'm not misinformed. I was speaking about Zcash, not Monero.

Are you "English" speaking?

I'm bad-mouthing Zcash, not Monero.

[Longsnowsm]

What is the recommended miner software for Monero?  I have been using Claymore, but it seems pretty buggy so I am trying to find out if there are other options. 

[CryptoRambler]

@CryptoRambler:

You spoke about a premine. I'm not misinformed. I was speaking about Zcash, not Monero.

Are you "English" speaking?

I'm bad-mouthing Zcash, not Monero.

I am speaking of ZEC too. They had a trusted setup. No one knows what that means though - whether it can be trusted that is. Do you know if it can be trusted?

What is the premine problem with ZEC? What ℅ was premine and what is the coin distribution problem? Please share

I don't care if you bad mouth any cryptos lol

[Hueristic]

Call me crazy but I believe this is an optimal time to go short on XMR...  fall back to roughly $4-$5 USD.  I don't think it will fall as much this time but it will consolidate.

I think you have a good point. What bothers me is the speculation and the whales.

If you look you will see that most of Monero's trade is from on particular exchange. One good leg to stand on. Maybe another half-leg. Then some toes.

Whereas Bitcoin has many legs, besides the many exchanges. And I realize that Bitcoin is not private.

If Monero is adopted by more exchanges then I think we could see a serious and stable upswing.

Certainly this exposure is getting Monero noticed, however.

As for Zcash (mentioned as a competitor to Monero) I don't think, based upon it's premine and even if all of the gurus of cryptocurrency pay homage, that it will take off. It can be traced if certain parties allow it during transactions, as I understand it. If that is so, it's a half-measure, attempting to play the middle. Between allowing regulation and providing privatization. There is no such place. It's a simple Bitcoin knock-off with a few new bells and whistles, not to mention the premine -- again.  

What is the problem with the premine?

You are simply misinformed. XMR represents real tech. Go short, best you get is $10. Keep holding though. Please let us know when you take a short position, and at what price. Otherwise, you are simply a troll.

XMR has NO pre-mine. Making this clear for anyone that didn't understand your post. And there are many threads on what wrong with ZEC.

[rickgejr]

@CryptoRambler:

I've noticed plenty of folks here from other countries.

If you really understood me, then you should already know the basics of premining.

Zcash is not about the trust, it's about the premine -- to me. And the lack of assured privacy.

Premining is akin to centralization at that equals risk. Dump risk. Bye-Bye Risk. Diluted Zcash with good intentions, risk.

Invest away and good luck.

As I understand it, even if you mask your Zcash sends, the receiver can unmask you, if say, Uncle Sammy wants to know if you are a terrorist.

And in the U.S. every Granny is a potential terrorist these days.
 

[rickgejr]

@Hueristic

Thanks.

I think some folks don't spend the extra brain cell on this one.

Think of it this way...

Premining is like the wheel...

If the person who invented the wheel said "hey, dudes, I've figured out a way to make things role really well...and well, I'll let you use my idea, if, and I'm saying this nicely, from now on you will give me 10% of all the stuff you roll. Forever. Ad infinitum.

Pardon me Zcash?

That's why Monero just works.

[CryptoRambler]

@CryptoRambler:

I've noticed plenty of folks here from other countries.

If you really understood me, then you should already know the basics of premining.

Zcash is not about the trust, it's about the premine -- to me. And the lack of assured privacy.

Premining is akin to centralization at that equals risk. Dump risk. Bye-Bye Risk. Diluted Zcash with good intentions, risk.

Invest away and good luck.

As I understand it, even if you mask your Zcash sends, the receiver can unmask you, if say, Uncle Sammy wants to know if you are a terrorist.

And in the U.S. every Granny is a potential terrorist these days.
 

what % of ZEC was premined and what is the the distribution problem, particular to ZEC? Why mention it, unless you are simply parroting someone else and don't have a clue about the premine?

The receiver cannot unmask the ZEC sender, but can make unmasking easier - not that it is.  The transactional amount is not hidden, and neither is the sender IP address or node transactional data.

Those particular problems make ZEC unmask-able, but it is still very difficult to do. There is no direct coin history for each coin, but the protocol needs work to be as unlinkable / untraceable as XMR

[rickgejr]

@CryptoRambler

Go to the Zcash website.

Click "Buzz" in upper menu bar.

Read article from The Economist.

10% Earmark for founders.

I'm not here to do your homework.

Ask your mother.

[CryptoRambler]

@CryptoRambler

Go to the Zcash website.

Click "Buzz" in upper menu bar.

Read article from The Economist.

10% Earmark for founders.

I'm not here to do your homework.

Ask your mother.

Evidently you are not here to do anyone's homework, as you do not know the difference between a premine and an ongoing development tax included on mined coins.