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

[gembitz]

https://twitter.com/TREZOR/status/1012308383305695232

Thats where they locked up my polo account!

polo > goldman > evil reptilian bankers?     lol

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[Scooby903]

What are the technical differences between Monero and Zcash and how does this affect privacy?

[cryptonote-social]

I wanted to plug the XMR mining pool we just kicked off using the "predictable solo mining" payout scheme as pioneered by Ethpool.org for Ethereum:

https://cryptonote.social/xmr

It's an interesting payout scheme that awards the round leader the entire block rewards, though at a far more predictable time interval than if you were to solo mine on your own. If you have the hashpower and time to stick it out, it's a bit like participating in a race against the other miners Smiley We think it will be pretty fun for the Monero mining community.

[florida.haunted]

How long is the average verification time for Monero transactions and can this be reduced?

Monero average block time is 2min. Binance requires 3 confirmations for example, so average waiting time ~ 2*3 = 6min. Official CLI/GUI wallet may wait more (not sure, guess 6 confirmations and ~ 2*6 = 12min).

[florida.haunted]

What are the technical differences between Monero and Zcash and how does this affect privacy?

Monero:
1) has Cryptonote algorithm to get most of privacy; it is widely described in peer-reviewed mathematical journals and is well known for scientific society for ~20 years; it is highly unlikely that Cryptonote algorithm contains unknown vulnerabilities.
2) has total 'privacy by default' paradigm in end-user business-logic: an end-user must do EXTRA steps to DECREASE his privacy, otherwise his privacy stay at maximum possible level forever; for example, some exchanges require view-key to monitor deposits, this view-key must be apparently set by end-user as extra parameter of a transaction.
3) Privacy of Cryptonote may decrease if there are too few recent transactions on the blockchain, and in few other conditions that are WELL KNOWN and STUDIED; Cryptonote has no kind of 'Initialization trust' that has ZCash (see below).

ZCash:
1) has Zk-snark algorithm to get most of privacy; it is very promising but it is NOT known for scientific society for a long time (just 2-3 years against 20 years for Cryptonote); there is quite significant chance that Zk-snark has unknown vulnerabilities.
2) has NO 'privacy by default' paradigm: furthermore, ZCash transactions are PUBLIC by default; end-user MUST do extra steps to INCREASE his privacy. That steps include not only extra parameters to be applied to a transaction: end-user must pay attention that he DOES NOT transfer money between public-typed addresses and private-typed addresses, otherwise, his anonymity may be lost very easily. This drawback of ZCash was widely discussed on the net recently.
3) MOST TERRIBLE. ZCash as well as other coins that utilize Zk-snark MUST rely on so called 'Initialization trust'. The 'Initialization trust' is a set of secret parameters that should be generated once for the whole blockchain. The devs of ZCash PROMISE YOU they have wiped and fired off that initial secret parameters. DO YOU TRUST IN ZCASH DEVS?! Welcome to the 'Initialization trust'!

P.S. Oh just forgetting... one little property that has ONLY Monero (of course, we don't consider its various shit-forks):
FUNGIBILITY. This is a property that even fiat money don't have, because each fiat money note has unique serial number: you can mark, trace and distinguish one fiat money note from other one.

Monero's math from the other hand does guarantee that XMR coins have no serial numbers and can't be distinguished from each other. RingCT hides transaction amounts further on the blockchain. So there is no way to trace even XMR coin entities between (already) anonymous addresses. Monero blockchain is the only TOTALLY encrypted.

Final cherry pick we wait this fall is Kovri - a pure C++ i2p implementation that will place all the communication between world-wide Monero nodes into highly secure and anonymous network called i2p (it is much more secure than Tor network - see Wikipedia).

[Febo]

I just want to be able to pay my pizza delivery guy in xmr. he can know where I live but not know who I am, right? is that too much to ask of earth?

I think when you order pizza delivery guy will at least suspect who you are if not know who you are. But what is important is that he will not know how much money you have and where it come from and what else are you buying.

Imagine this pizza guy check your bitcoin address with which you paid pizza and see that you are also buying pizza from competition and he also see that you tip delivery guy from competition way better then him.   Man I would not want to be in your spot. This guy is delivering you food. You cant make him your enemy.

[kamaljit.singh]

"How Monero’s accounts and subaddresses work"

[lysr]

When can we expect the final Monero App for Ledger Nano s to be released? What still needs to happen before it is easily accessible to all?

[Globb0]

I just want to be able to pay my pizza delivery guy in xmr. he can know where I live but not know who I am, right? is that too much to ask of earth?

What is the need to ensure privacy of your transaction to buy pizza? Are you on a spouse monitored diet?  

No he also does "special" deliveries

 

[Camus]

Honestly, I used to think that Bitcoin is an anonymous cryptocurrency, but I was wrong. Anonymous cryptocurrency is Monero ))

[-Kaizer-]

Make sure you use the releases available on the official GitHub Source for MoneroV. I downloaded the whole blockchain.raw and imported it (that too from the official source) when I first used my local node. Now using remote node, quite easy and I got free space on my notebook to store other things.

[sundownz]

XMR price has bounced off the bottom a bit. Nice to see =)

I am trying to determine if I should keep mining it or change my CPU resources to something else.

Mining is not profitable for small participants on the long time perspective. It was discussed a lot since 2010-2011 when GPU mining was actual for Bitcoin. Furthermore, you see this spring/summer 2018 is poor and unstable in crypto price terms. Altcoins tend to dim much more, while Bitcoin itself dims a lot. Also note, when Monero price was dumped from $210 to $120, network hashrate did not change at all (now it even increases slowly in time frames of weeks or so).

From the other hand, the experienced crypto-traders can take stable profit in the virtually all the price variations. For example, if the price of a coin given decreases, but not monotonically, the experienced trader does take profit.

So I recommend to switch to trading activities and not only trading: for example, to learn/train the people who want to trade itself is profitable; to produce trade/news signals in a paid group is profitable; etc.

...Or you can get deeper into programming skills and help Monero community to write new code or to test existing apps. There are corresponding money bounties too.

So, there exist many interesting activities that have much more stable and solid profit than mining.

I am mining either way -- just that I have all my CPUs on Monero at the moment... so far have mined 50 XMR since starting on it but I've sold 44 along the way.

I have ~80 kH of CPU power on tap so it's not exactly small... nor is it super large, I suppose. Currently it still makes profit to mine XMR on them... but, as you said, much less than before.

I keep my GPUs on other stuff (also still making profit).

… but what I was wondering is if I should stay on Monero in hopes it will rise again in price or go to another coin... such as ITNS (which I mined for quite a while and HODL quite a few coins).

[Febo]

"How Monero’s accounts and subaddresses work"

Like this:  https://medium.com/@anhdres/how-moneros-accounts-and-subaddresses-work-in-monerujo-4fa7df0a58e4  ?

[florida.haunted]

Monero Mining Pool by HeroMiners


Pool Url: https://monero.herominers.com/


https://monero.herominers.com/
Payout threshold 1 XMR
Denomination Unit: 0.1 XMR
Payment Interval: 30 minutes
Pool Fee: 0.5%

Dedicated Server
Can Directly Mining To Exchange (Integrated,paymentID and subaddress support)
Worker hash rate charts
E-Mail Notification Of Miners Down
Configurable minimal payout
Telegram worker and payment notification bot.
Discord Channel: https://discord.gg/gvWSs84
Save your Hashrate!

Dear mining pool creators! You do have so much living energy! Just direct it to the smart river...

Could you do something more useful for the society than Yet Another Mining Pool with scam-like Payout threshold = 1 XMR?! We already have SEVERAL DOZENS of good to excellent pools with Payout threshold <= 0.3 XMR.

Furthermore, with your pool's tiny hashrate, one has to wait a week or two before he could confirm your pool is not a scam. Why should he take such a huge risk? There are MANY well-known pools with high hashrate so that pools may pay you up to several times per day.

Please read my full comment describing why mining is almost or definitely NOT profitable:
https://bitcointalk.org/index.php?topic=583449.msg41108057#msg41108057

Pool creation in order to increase decentralization WAS a useful task on the earlier stages of Monero community. Today this task is definitely saturated. Hope you'll find more useful and profitable business.

[dEBRUYNE]

"How Monero’s accounts and subaddresses work"

Link to article if anyone is interested:

https://medium.com/@anhdres/how-moneros-accounts-and-subaddresses-work-in-monerujo-4fa7df0a58e4

[kamaljit.singh]

$NIX (NIX Platform) and $XMR (Monero) are now live on Nanex! 🚀 For more on $NIX, follow @NIXplatform or go to https://nixplatform.io/  NIX Minimum Withdrawal: 5 NIX, Withdrawal Fee: 1 NIX XMR Minimum Withdrawal: 0.05 XMR, Withdrawal Fee: 0.01 XMR

[herominers]

Monero Mining Pool by HeroMiners


Pool Url: https://monero.herominers.com/


https://monero.herominers.com/
Payout threshold 1 XMR
Denomination Unit: 0.1 XMR
Payment Interval: 30 minutes
Pool Fee: 0.5%

Dedicated Server
Can Directly Mining To Exchange (Integrated,paymentID and subaddress support)
Worker hash rate charts
E-Mail Notification Of Miners Down
Configurable minimal payout
Telegram worker and payment notification bot.
Discord Channel: https://discord.gg/gvWSs84
Save your Hashrate!

Dear mining pool creators! You do have so much living energy! Just direct it to the smart river...

Could you do something more useful for the society than Yet Another Mining Pool with scam-like Payout threshold = 1 XMR?! We already have SEVERAL DOZENS of good to excellent pools with Payout threshold <= 0.3 XMR.

Furthermore, with your pool's tiny hashrate, one has to wait a week or two before he could confirm your pool is not a scam. Why should he take such a huge risk? There are MANY well-known pools with high hashrate so that pools may pay you up to several times per day.

Please read my full comment describing why mining is almost or definitely NOT profitable:
https://bitcointalk.org/index.php?topic=583449.msg41108057#msg41108057

Pool creation in order to increase decentralization WAS a useful task on the earlier stages of Monero community. Today this task is definitely saturated. Hope you'll find more useful and profitable business.

Thanks for feedback. I changed it.

https://monero.herominers.com/
Payout threshold 0.3 XMR
Denomination Unit: 0.001 XMR
Payment Interval: 30 minutes
Pool Fee: 0.5%

[dEBRUYNE]

GUI v0.12.2.0 released!

https://www.reddit.com/r/Monero/comments/8vkx2g/gui_v01220_released/

[Hueristic]

GUI v0.12.2.0 released!

https://www.reddit.com/r/Monero/comments/8vkx2g/gui_v01220_released/

Nice, what does this mean?

which includes indirect Ledger support

[dEBRUYNE]

GUI v0.12.2.0 released!

https://www.reddit.com/r/Monero/comments/8vkx2g/gui_v01220_released/

Nice, what does this mean?

which includes indirect Ledger support

You have to generate the Ledger Monero wallet with the CLI (only once though), but you can subsequently use it with the GUI.