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

[hd49728]

@Termie. Ciphertrace has patents to claims that they have created the technology to trace transactions in the Monero blockchain hehe. Also, cryptocoin privacy is a cat and mouse game. The development team of Monero will cover all holes Ciphertrace opens and this will occur back and forth.

The article also mentioned exchange delistings. This makes my skepticism stronger that their article is for only fud.

I have same skepticism as yours that is a FUD only. How does it take more than one year since August 2019 to November 2020 for Cipher Trace to file their patents if they truly have good tools to trace and crack down the traceability of Monero transactions? It sound not normal and hard to believe in.

CipherTrace develops Monero tracing tool to aid US DHS investigations
CipherTrace Files Two Monero Cryptocurrency Tracing Patents

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[Hueristic]

@Termie
I'll quote 2 sentences from this article (https://decrypt.co/49182/ciphertrace-files-patents-for-tech-that-traces-monero-transactions), the impact is on 2nd.  

"But CipherTrace’s patents claim that transactions are entirely traceable.

The patents, however, have not been approved. "

https://twitter.com/davejevans/status/1330008956270374918

Dave Jevans CipherTrace CEO
@davejevans
CipherTrace filed their second patent application on Monero tracing techniques.  Nobody can deterministically trace Monero transactions yet.  But this lays the groundwork for meaningful results particularly for tracing large scale thefts & crime

[bbc.reporter]

The article also mentioned exchange delistings. This makes my skepticism stronger that their article is for only fud.

The exchanges have delisted privacy centered coins because they do not want to be shut down by local governments for "potentially" harboring criminals from monetary transactions. They also do not want to be held responsible for helping transact dirty crypto used by bad actors. It's all about the CYA aspect of remaining viable as an exchange in order to maintain income for stakeholders.

Ask yourself, why do so many non-USA exchanges not allow or even IP block NA retail traders? That AML/KYC is a B.

Yes, clearly the issue is about compliance. There is a paper written by a group of lawyers and it argues that anonymous and privacy enabled coins' features should be kept, can be listed and still be compliant.

https://www.perkinscoie.com/images/content/2/3/v7/237411/Perkins-Coie-LLP-White-Paper-AML-Regulation-of-Privacy-enablin.pdf

In any case, transaction privacy will be an important issue in the next years to come in the cryptspace. Michael Saylor, who has a large economic interest on bitcoin, might be next popular figure to declare more tranparency and blockchain analysis is good to protect his investment.

[dikobraz123]

@Termie
I'll quote 2 sentences from this article (https://decrypt.co/49182/ciphertrace-files-patents-for-tech-that-traces-monero-transactions), the impact is on 2nd. 

"But CipherTrace’s patents claim that transactions are entirely traceable.

The patents, however, have not been approved. "

https://twitter.com/davejevans/status/1330008956270374918

Dave Jevans CipherTrace CEO
@davejevans
CipherTrace filed their second patent application on Monero tracing techniques.  Nobody can deterministically trace Monero transactions yet.  But this lays the groundwork for meaningful results particularly for tracing large scale thefts & crime

I believe that this whole CipherTrace patent application circus is about milking a cash-cow called US (or any other) government. You know the lines:
" We are about to crack that bad boy Monero, we are in process of obtaining some groundbreaking patents, this is completely new technology, but we NEED more MONEY because all that development costs, you will profit in the long term, bla bla bla..."

[Turing]

The article also mentioned exchange delistings. This makes my skepticism stronger that their article is for only fud.

The exchanges have delisted privacy centered coins because they do not want to be shut down by local governments for "potentially" harboring criminals from monetary transactions. They also do not want to be held responsible for helping transact dirty crypto used by bad actors. It's all about the CYA aspect of remaining viable as an exchange in order to maintain income for stakeholders.

Ask yourself, why do so many non-USA exchanges not allow or even IP block NA retail traders? That AML/KYC is a B.

Centralized exchanges aren't necessary anyway. The future lies in decentralized exchanges that accept both Bitcoin, privacy coins and other coins/tokens.

[Globb0]

and even below that level

with Atomic swaps its possible you wont use an exchange at all.

[Turing]

and even below that level

with Atomic swaps its possible you wont use an exchange at all.

True.

It's an interesting time to live in, with smart contracts, atomic swaps, privacy coins, etc.

[bbc.reporter]

@Termie
I'll quote 2 sentences from this article (https://decrypt.co/49182/ciphertrace-files-patents-for-tech-that-traces-monero-transactions), the impact is on 2nd.  

"But CipherTrace’s patents claim that transactions are entirely traceable.

The patents, however, have not been approved. "

https://twitter.com/davejevans/status/1330008956270374918

Dave Jevans CipherTrace CEO
@davejevans
CipherTrace filed their second patent application on Monero tracing techniques.  Nobody can deterministically trace Monero transactions yet.  But this lays the groundwork for meaningful results particularly for tracing large scale thefts & crime

I believe that this whole CipherTrace patent application circus is about milking a cash-cow called US (or any other) government. You know the lines:
" We are about to crack that bad boy Monero, we are in process of obtaining some groundbreaking patents, this is completely new technology, but we NEED more MONEY because all that development costs, you will profit in the long term, bla bla bla..."

Agreed and the Monero developers know that this is only another cat and mouse game. Patches will be released to plug the holes again and Ciphertrace's patents will be useless hehehe. However, I reckon of Ciphertrace is scamming the government, I encourage this hehehehe.

[Hueristic]

Agreed and the Monero developers know that this is only another cat and mouse game. Patches will be released to plug the holes again and Ciphertrace's patents will be useless hehehe. However, I reckon of Ciphertrace is scamming the government, I encourage this hehehehe.

There are no holes.

[bbc.reporter]

Agreed. I was only giving Ciphertrace the benefit as an example for the cat and mouse argument hehe. Also, assuming that they find a hole, thank you. The development team will patch it and fix similar to other software development for different projects.

[vivabux]

yes, the government will find them how to decrypt transactions on the monero network, perhaps they have already found them, and they themselves are already watching without problems

[Hueristic]

Weird how the criminals didn't use the so called "criminal coin".


https://cointelegraph.com/news/chinese-police-seized-crypto-assets-worth-4-2b-today-from-plustoken-ponzi

194,775 Bitcoin (BTC), 833,083 Ether (ETH), 1.4 million Litecoin (LTC), 27.6 million EOS, 74,167 Dash, 487 million XRP, 6 billion Dogecoin (DOGE), 79,581 Bitcoin Cash (BCH) and 213,724 Tether (USDT)

Thanks @Krubster for the link.

[bitebits]

The Bulletproofs+ proposal is fully funded; Dr. Sarang Noether will implement it in Monero. An audit is still needed after to confirm the safety of the implementation.

Bulletproofs+ will reduce typical transaction sizes by around 5% (96 bytes/transaction) with similar verification time.

https://charity.gofundme.com/o/en/campaign/dr-sarang-noether-to-implement-bulletproofs-in-monero
https://twitter.com/MagicGrants/status/1332502548444573696

Kudos to Cake Wallet, that put their money where there mouth is ($1000 donation)

[blue Snow]

can I create monero paper wallet? and how can i create offline wallet using monero wallet, any legit source to create one?.

I find this https://moneroaddress.org on internet, is create from the official monero developer?

[phishead]

can I create monero paper wallet? and how can i create offline wallet using monero wallet, any legit source to create one?.

I find this https://moneroaddress.org on internet, is create from the official monero developer?

Yes it is, it was created by luigi1111 (core dev) if I’m not mistaken.

Here’s a good reference to help you out:
https://www.monerooutreach.org/stories/monero-paper-wallet.html

[herominers]

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[voteformeg]

i am very greatfull to hold some monero in my wallet but i still also have that old account from the beginning of monero , i will search for the seedphrase (i miss 1 word) and post it here , maybe there is a smarter guy then i am who can solve the problem with the missing seedword.

it should be possible to find the missing word , as far as i know it has something to do with different timeframes which used different word pakkages or some like that.

but still happy with the monero i hold in a wallet with original seedphrase

[dEBRUYNE]

i am very greatfull to hold some monero in my wallet but i still also have that old account from the beginning of monero , i will search for the seedphrase (i miss 1 word) and post it here , maybe there is a smarter guy then i am who can solve the problem with the missing seedword.

it should be possible to find the missing word , as far as i know it has something to do with different timeframes which used different word pakkages or some like that.

but still happy with the monero i hold in a wallet with original seedphrase

This Monero SE Q&A may interest you:

https://monero.stackexchange.com/questions/3968/missing-one-word-from-25-word-mnemonic-seed

[elrippos friend]

i think deeponion(ONION) will take over monero, because its really safe and anonymous. but monero has atm more volume

The next one who is bashing Monero with a more private coin but without a use case 

[blue Snow]

Yes it is, it was created by luigi1111 (core dev) if I’m not mistaken.

Here’s a good reference to help you out:
https://www.monerooutreach.org/stories/monero-paper-wallet.html

thanks for the answer, one more question, is monero using bip39 mnemonic seed?. Because I read that link using 25 mnemonic word.

i think deeponion(ONION) will take over monero, because its really safe and anonymous. but monero has atm more volume

you have to answer itself, why volume less than monero if more safe and anonymous?