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

[nullius]

Who are the main competitors to Monero? I mean technology wise. Is there another crypto with a better privacy technology?

Bitcoin transacted via the Lightning Network, using onion-routed transactions and other privacy features.  (All done over Tor for network-layer privacy, of course—of course, all on your own node and not with a custodial wallet.)  Or other advanced Bitcoin privacy techniques; but I will leave it at Lightning.

Transacting off-chain is strictly superior to using cryptographic techniques to hide information recorded in an append-only public ledger.  What is never on the blockchain doesn’t need to be hidden there!  This also means that no metadata is recorded on the blockchain—not even the fact that a transaction occurred around a certain time.

There is one other privacy coin with which I have substantial experience; it is the one considered to be XMR’s main competitor.  Its privacy is theoretically superior to XMR, with a transaction unlinkability set much larger than any mixin; but it has other problems that have made me miserable with it in practice.  Although I still have a small amount (as I also have some XMR), I don’t even want to name it here on the XMR thread.  Anyway, I am moving toward a 100% all-Bitcoin privacy setup, for my own part.

I am aware of some recent developments with coins that use MimbleWimble, but have not investigated those due to, again, refocusing on Bitcoin privacy.  I don’t know if they are any good.

Many other so-called “privacy coins” are SCAMS:  DASH, DeepOnion, and Verge, for some examples that I have investigated.  SCAMS.  AVOID the shitcoins with slick marketing, that do not actually protect your privacy.  “Privacy” is a big buzzword; and you should only trust privacy claims that have been thoroughly peer-reviewed by experts.

Anyway, if you need to ask this question, then you should probably just stick with XMR (or get on Lightning with Bitcoin...).  Monero has good cryptography.  Insofar as I can see, its principal weakness is the size of the unlinkability set for each transaction.  As a different factor that is also important, I note that it is the only coin that I know of which has truly decentralized, censorship-resistant mining, on commodity hardware which anybody can buy without exposing an interest in cryptocurrency.  (The reason why I myself do not do Bitcoin mining:  I can’t buy an ASIC with strong anonymity, and I can’t just use ordinary CPUs.)  If there were one altcoin feature that I could steal for Bitcoin, it would probably be RandomX, or some further development thereof.  (Yes, Bitcoin mining people, I am aware of all the reasons why that will not happen.)

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[Hueristic]

Who are the main competitors to Monero? I mean technology wise. Is there another crypto with a better privacy technology?

There are none, bitcoins solutions are all second layer and therefore inherently flawed.

[bitebits]

https://github.com/monero-project/monero/pull/6451

Bulletproofs: verification speedup #6451
SarangNoether

Speeds up Bulletproof verification by eliminating unnecessary point compression and decompression when performing multiply-by-8 operations on group elements to ensure proper subgroup membership.

Updates performance and unit tests.

Example speedups on test machine:

- single 1-output proof: 5.2% speedup
- single 2-output proof: 2.9% speedup
- 4-batch of 2-output proofs: 10.6% speedup
- 64-batch of 2-output proofs: 25.7% speedup

[Hueristic]

6 Years old and it seems like only yesterday we didn't have a GUI wallet.

[Millionero]

This probably isn't a problem, but thought I'd ask anyway.  I'm curious what makes monerod print this error.  I am using --prune-blockchain

Code:

2020-04-20 08:56:45.483 W [51.77.152.156:28414 INC]  peer claims higher version that we think (13 for 2063919 instead of 12) - we may
be forked from the network and a software upgrade may be needed
2020-04-20 09:04:57.918 I Last scheduled hard fork time suggests a daemon update will be released within the next couple months.
2020-04-20 09:09:43.044 W [51.77.152.156:29878 INC]  peer claims higher version that we think (13 for 2063919 instead of 12) - we may
be forked from the network and a software upgrade may be needed

and it continued printing that error over and over again.
I exited the daemon and started it again, no error this time.
I am running

Code:

$ monerod --version
Monero 'Carbon Chamaeleon' (v0.15.0.1-release)

[hd49728]

6 Years old and it seems like only yesterday we didn't have a GUI wallet.

It does not a matter for technical guys who seriously care about privacy. They do know how to do this without GUI wallet. For them, it has never been a big problem. For amateurs, I bet that how many of them seriously care about privacy. In contrast, most of them use Monero or invest in Monero as they see chances to get profits or see Monero investment or usages as a hot trend. They are FOMO invested or used Monero while they don't care to learn and know about the technique behind Monero.

[elrippos friend]

This probably isn't a problem, but thought I'd ask anyway.  I'm curious what makes monerod print this error.  I am using --prune-blockchain

Code:

2020-04-20 08:56:45.483 W [51.77.152.156:28414 INC]  peer claims higher version that we think (13 for 2063919 instead of 12) - we may
be forked from the network and a software upgrade may be needed
2020-04-20 09:04:57.918 I Last scheduled hard fork time suggests a daemon update will be released within the next couple months.
2020-04-20 09:09:43.044 W [51.77.152.156:29878 INC]  peer claims higher version that we think (13 for 2063919 instead of 12) - we may
be forked from the network and a software upgrade may be needed

and it continued printing that error over and over again.
I exited the daemon and started it again, no error this time.
I am running

Code:

$ monerod --version
Monero 'Carbon Chamaeleon' (v0.15.0.1-release)

Why don't you upgrade to 15.0.5 

[dEBRUYNE]

This probably isn't a problem, but thought I'd ask anyway.  I'm curious what makes monerod print this error.  I am using --prune-blockchain

Code:

2020-04-20 08:56:45.483 W [51.77.152.156:28414 INC]  peer claims higher version that we think (13 for 2063919 instead of 12) - we may
be forked from the network and a software upgrade may be needed
2020-04-20 09:04:57.918 I Last scheduled hard fork time suggests a daemon update will be released within the next couple months.
2020-04-20 09:09:43.044 W [51.77.152.156:29878 INC]  peer claims higher version that we think (13 for 2063919 instead of 12) - we may
be forked from the network and a software upgrade may be needed

and it continued printing that error over and over again.
I exited the daemon and started it again, no error this time.
I am running

Code:

$ monerod --version
Monero 'Carbon Chamaeleon' (v0.15.0.1-release)

You can safely ignore the message as long as you are running one of the v0.15 release versions (which you are).

[Millionero]

Why don't you upgrade to 15.0.5  

Didn't know there was a new version!  Thanks for telling me, upgraded and running 15.0.5 now.
I guess it wasn't publicized because it's not a hard fork?

[elrippos friend]

Why don't you upgrade to 15.0.5  

Didn't know there was a new version!  Thanks for telling me, upgraded and running 15.0.5 now.
I guess it wasn't publicized because it's not a hard fork?

You are welcome 
Just drop by on the official homepage ones a week and check for updates, respective to the githubrepo, that's always a good idea 

[Globb0]

Why don't you upgrade to 15.0.5  

Didn't know there was a new version!  Thanks for telling me, upgraded and running 15.0.5 now.
I guess it wasn't publicized because it's not a hard fork?

You are welcome 
Just drop by on the official homepage ones a week and check for updates, respective to the githubrepo, that's always a good idea 

An perhaps someone who is keeping up to date wouldn't mind a post here to alert people.

[mirny]

Who are the main competitors to Monero? I mean technology wise. Is there another crypto with a better privacy technology?

Well mimblewimble protocol coins are, but not those little scammy "projects"
hope you know, about who exactly im talking about

[Globb0]

Who are the main competitors to Monero? I mean technology wise. Is there another crypto with a better privacy technology?

Well mimblewimble protocol coins are, but not those little scammy "projects"
hope you know, about who exactly im talking about

We have waited so long for the scam project to fail.

I wonder if they will ever?

Perhaps there will always be a bigger fool and they will get away with it. At least the scammers will be rich and gone by the time people notice

[plast555]

Hey guys all these years into crypto since early 2017 I have heard a lot about the privacy coins but I haven't owned a privacy coin yet. I even saw some articles about the ring signatures used by the Monero for the privacy well I'm not a techie guy but I like to own few privacy coins like Monero but which wallets are best to use.?  of course, I can do some research through google but thought of having some names from here to short down my list to research more on it

[bitebits]

^

Hi plast555, be careful going down the Monero rabbit hole, it might take some time before you get out With all below wallets you own the seed / private keys:

The official Monero wallet, use Simple Mode in case you don’t want to run your own node:
https://web.getmonero.org/downloads/

On mobile, you can use https://cakewallet.com/ or https://www.monerujo.io/

Last but not least is https://mymonero.com/, all platforms and Android coming soon.

[dEBRUYNE]

Why don't you upgrade to 15.0.5  

Didn't know there was a new version!  Thanks for telling me, upgraded and running 15.0.5 now.
I guess it wasn't publicized because it's not a hard fork?

There have been announcements regarding the new point release. However, you may have missed them.

[1Kill]

Even now, I believe that this is one of the most promising projects in the long term. Since the start of the project, the price of a coin has increased by more than 2000%, but I am sure that this is not the limit.

[giammangiato]

Even now, I believe that this is one of the most promising projects in the long term. Since the start of the project, the price of a coin has increased by more than 2000%, but I am sure that this is not the limit.

Yes, monero is currently one of the best projects with futurability at the moment, only time will tell us if we are right or we are wrong. I follow it since october and I think that will give more gains. Waiting for the moon

[culuuton]

Even now, I believe that this is one of the most promising projects in the long term. Since the start of the project, the price of a coin has increased by more than 2000%, but I am sure that this is not the limit.

Yes, monero is currently one of the best projects with futurability at the moment, only time will tell us if we are right or we are wrong. I follow it since october and I think that will give more gains. Waiting for the moon

The usefulness of monero has been recognized in practice, it's more useful and necessary than other coins. The top 15 in the cryptocurrency market has said that, without waiting for the future, right now can confirm your investment is right.

[Globb0]

Even now, I believe that this is one of the most promising projects in the long term. Since the start of the project, the price of a coin has increased by more than 2000%, but I am sure that this is not the limit.

Yes, monero is currently one of the best projects with futurability at the moment, only time will tell us if we are right or we are wrong. I follow it since october and I think that will give more gains. Waiting for the moon

The usefulness of monero has been recognized in practice, it's more useful and necessary than other coins. The top 15 in the cryptocurrency market has said that, without waiting for the future, right now can confirm your investment is right.

I suppose you are right even when we are often a little disappointed sometimes.

Fact of the mater is there is like a million stupid coins and token. We are consistently top 10.

Perhaps I should be more grateful to Monero and remember this fact.

Also pretty universally touted as number 1 privacy coin and second (back pocket) coin for key BTC players.