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

[newb4now]

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!  

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

Does anyone feel a sense of deva vu between Feb announcement (before last spike) and now?

Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.

I think the difference now is that we are much closer to LMDB release and there are a lot of exciting things in github.

Development really seems to be picking up lately at the same time as emission is slowing. Somehow I think the next rise in XMR might be much more sustainable than the last. We shall see....

[smooth]

How is monero in terms of non-currency usage? Is it possible to do smart contracts and such on monero? A lot of VCs and investors like bitcoin not for its use as a currency, but for its super secure public database, for its ability to do smart contracts and many other layers other than currency.

Is that possible, or is that inherently impossible (or extremely cumbersome) to do with monero because of the private nature of its blockchain?

It is possible, but it requires some small code changes to "tag" outputs of a particular class. Outputs with one tag could only be mixed with other outputs of the same tag and transactions would have to be balanced by tag (sum of inputs with a particular tag would have to match sum of outputs of the same tag, other than special asset create and destroy transactions).

We're a bit hesitant to implement something like this on the main chain due to the possibility of an uncontrolled explosion in size (consider thousands or even millions of these assets/contracts), so the preference is to wait until we are able to set up sidechains and then have asset chains where only someone interested in trading a particular asset would need to use that chain. That makes a lot more sense to me.

See https://getmonero.org/design-goals/

[newb4now]

How is monero in terms of non-currency usage? Is it possible to do smart contracts and such on monero? A lot of VCs and investors like bitcoin not for its use as a currency, but for its super secure public database, for its ability to do smart contracts and many other layers other than currency.

Is that possible, or is that inherently impossible (or extremely cumbersome) to do with monero because of the private nature of its blockchain?

It is possible, but it requires some small code changes to "tag" outputs of a particular class. Outputs with one tag could only be mixed with other outputs of the same tag and transactions would have to be balanced by tag (sum of inputs with a particular tag would have to match sum of outputs of the same tag, other than special asset create and destroy transactions).

We're a bit hesitant to implement something like this on the main chain due to the possibility of an uncontrolled explosion in size (consider thousands or even millions of these assets/contracts), so the preference is to wait until we are able to set up sidechains and then have asset chains where only someone interested in trading a particular asset would need to use that chain. That makes a lot more sense to me.

See https://getmonero.org/design-goals/

I love the cautious approach of our development team. Monero is too valuable to much rash development decisions without careful research

[aerbax]

It feels like a lot of things are coming together.

Thanks again to the devs and the Monero community.

[americanpegasus]

I'd like to ask a slightly off topic question.  If Monero is perfectly fungible by being anonymous, and bitcoin is only partially fungible, has anyone ever launched a completely non-fungible blockchain before?   
 
It would be one where every unit has a distinct and verifiable history, and can include data (public or private) that is distinct to that unit.   
 
Kind of like if every bitcoin came with its own serial number and a private guest book.  (I hope I'm not describing something like Etherium or MaidSafe) 
 
As far as potential applications, don't chew my head off.  I don't know what you'd use the damn thing for.  It just seems to me to be the inevitable third child once you have a totally fungible and a partially fungible blockchain.

[iCEBREAKER]

I'd like to ask a slightly off topic question.  If Monero is perfectly fungible by being anonymous, and bitcoin is only partially fungible, has anyone ever launched a completely non-fungible blockchain before?   
 
It would be one where every unit has a distinct and verifiable history, and can include data (public or private) that is distinct to that unit.   
 
Kind of like if every bitcoin came with its own serial number and a private guest book.  (I hope I'm not describing something like Etherium or MaidSafe)

Colored coins.

https://www.coinprism.com/

[smooth]

I'd like to ask a slightly off topic question.  If Monero is perfectly fungible by being anonymous, and bitcoin is only partially fungible, has anyone ever launched a completely non-fungible blockchain before?  
  
It would be one where every unit has a distinct and verifiable history, and can include data (public or private) that is distinct to that unit.  
  
Kind of like if every bitcoin came with its own serial number and a private guest book.  (I hope I'm not describing something like Etherium or MaidSafe)  
  
As far as potential applications, don't chew my head off.  I don't know what you'd use the damn thing for.  It just seems to me to be the inevitable third child once you have a totally fungible and a partially fungible blockchain.

I'm not aware of such a thing, but there are discussions of putting things like property titles on a blockchain. In that case it would be similar since property titles certainly aren't fungible and don't make sense to combine or split.

Colored coins are a bit different because coins of the same color are supposed to be (or at least normally expected to be) fungible with each other, can be split and combined, etc.

[iCEBREAKER]

Colored coins are a bit different because coins of the same color are supposed to be (or at least normally expected to be) fungible with each other, can be split and combined, etc.

*drifts farther OT*

"Coins" don't actually exist at the protocol level, so a colored coin is just a set of colored satoshis.

What happens if you CoinJoin a colored coin with a plain one?  Does it break the internet or what?  

[smooth]

Colored coins are a bit different because coins of the same color are supposed to be (or at least normally expected to be) fungible with each other, can be split and combined, etc.

*drifts farther OT*

"Coins" don't actually exist at the protocol level, so a colored coin is just a set of colored satoshis.

What AP wrote was "every unit has a distinct and verifiable history".

Sure colored coins have a distinct history from coins of different colors, but there is no distinct history to each other. If you have a transaction with (A,B) -> (C,D) where A, B, C, and D are all of the same color, that is equivalent to (B,A) -> (C,D) in any colored coin scheme I've seen. Likewise if you do (A) -> (B,C) then B and C don't have a distinct history.

EDIT: Although the coinprism site does say "Encode ownership of a house or a car on a colored coin. Store your house on the Bitcoin blockchain" so perhaps there is something in their protocol that indicates a particular color is an atomic asset that can't be split or combined in this manner, I don't know.

[binaryFate]

Bitcoin with an additional field for outputs would do that. That field would contain the subset of inputs "contributing" to a given output.

[Andretti83]

Some discussion about Bitcoin anonimity and Monero on Bitcoin forum.
Starting from: https://bitcointalk.org/index.php?topic=1128788.msg11924204#msg11924204

[kazuki49]

Some discussion about Bitcoin anonimity and Monero on Bitcoin forum.
Starting from: https://bitcointalk.org/index.php?topic=1128788.msg11924204#msg11924204

hmmm

[smooth]

Some discussion about Bitcoin anonimity and Monero on Bitcoin forum.
Starting from: https://bitcointalk.org/index.php?topic=1128788.msg11924204#msg11924204

hmmm

Bitcoin might also be very undervalued. Hard to say.

[kazuki49]

Bitcoin might also be very undervalued. Hard to say.

I think Bitcoin price range in the short-time should be at $1000-$5000: the digital gold.

Monero is worth at least $100 each, both are undervalued but Monero is crazy cheap.

The whole bytecoin fiasco is stupefying. 
 
Anyone involved in crypto surely knew that bitcoin wasn't a gimmick, it was an incredible powerful invention with the power to change the world. 
 
Now, anyone intelligent enough to create Cryptonote and/or Bytecoin had to realize that this would be an even more profound invention. 
 
To reduce it to a premine scam, or to compromise the integrity of the distribution somehow is unthinkable (for profit) when you could just launch fairly and still own a titanic share of the next big thing. 
 
The *only* conclusion that I, as a rational outside observer, can come to is that something extremely fishy surrounds the entire existence of Bytecoin.  Perhaps even a false flag operation of sorts? 
 
Anyway, the less said about Bytecoin going forward, the better. 
 
It's dead Jim, and it's not going anywhere.  The only purpose it serves is one more FUD variable in a sea that's already chock full of them.

The idea that the BCN blockchain might be 80% fake and until now there is no certain if thats true our not just give me the creeps, thats why I dont think BCN was launched to last but Monero overall slow growth and trolls feeding off the fact it started as a fork of BCN gave it extra life to run some extra miles, crypto was made for people, if someone launch a coin that was already 80% mined in a blockchain that controlling the total supply can weaken everyone's else privacy... don't expect many followers.

[Giam1piero]

monero have windows 32 bit wallet? yes or no

[smooth]

monero have windows 32 bit wallet? yes or no

No. You will have to use MyMonoro or a remote node or wait for the next version.

[cAPSLOCK]

monero have windows 32 bit wallet? yes or no

No. You will have to use MyMonoro or a remote node or wait for the next version.

You are usually quite careful and exacting with your language.  Are you sure your final article and adjective are the right ones there?  

[Hueristic]

Moved from Speculation thread, still off topic but interesting.

I'm of the opinion that we need to learn how to terraform our own planet before we waste the resources on going to others. Not to mention the fact we need to overcome the hurdle of the cost of putting mass into space. What ever happened with that elevator Idea?

AFAIK, the elevator was dependent on nanotube development. Though, if you have a small mining operation in space, you could use the resources that you are mining to expand the mining operation indefinitely--this may be a good application of drones and 3-d printers--so becomes a question of getting enough resources into space for the first operation; from there you can keep expanding.

OT, so I'll say those drones will use monero to transact their energy cost from one drone to another <---square'd hole, round peg.

I think the nano tube tech is needed so that the cable is strong enough to withstand It's own weight and the forces that will act on it from weather and such. It should be available in a cost effective manner relativity soon. But I've never seen a untethered Idea floated. An platform from orbit to just above the tropopause would seem like a decent Idea to effectively control many of the variables the troposphere will throw at it. I wonder what the cheapest method to get to the stratosphere would be? After a little googling it looks like there are those proposing a tower.

I think XMR could be used to fund this.

I'm of the opinion that we need to learn how to terraform our own planet before we waste the resources on going to others. Not to mention the fact we need to overcome the hurdle of the cost of putting mass into space. What ever happened with that elevator Idea?

Bad idea. There are any number of risks involved in a species having only a single planet. And although having 2 planets in the same solar system so close to each other is only marginally better, it is very important.

It is extremely hard to fully control the Earth's environment; because the law of diminishing returns pretty much exists in everything. I figure we could potentially be able to travel beyond the solar system to other star systems (at least with robots) before we can fully control the Earth. It's just too difficult.

First off It would be so far in the future that we could create a self sustaining planet even in our own system that this bolded argument is more than likely moot. Second if we don't have the tech to control our own planets climate there is no way we can ever hope to change another planet enough that we could live there without life support, which is completely unfeasible in another solar system. So even if we can find a goldilocks planet we will still need the tech to terraform it and that starts here.

Don't get me wrong, I love exploration and space travel more than most but lets not use fallacies to push an agenda at the cost of a far more important goal.

[kazuki49]

I2P integration going live? https://github.com/PurpleI2P/i2pd/compare/5f644b1b04...85b1505e51

[cAPSLOCK]

I really do think it's cute that when XMR does a little jog upwards we all turn into Elon Musk.

Don't get me wrong.  I hope we get to finance our dreams.