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

[Andretti83]

Somebody mentioned Monero dynamic block on /r/Bitcoin with link to fluffypony video and how it should/could be used in BTC.
https://www.reddit.com/r/Bitcoin/comments/48gfm9/lets_implement_this_on_bitcoin_dynamic_block/

[GingerAle]

Download the early preview today!

http://www.exodus.io/releases/

Video too:

https://vimeo.com/156468628

Monero is still coming soon, not yet supported today, right? Is this a full node wallet or some hybrid SPV?

Did not download any blockchain when I installed on my iMac..worked straight away just like Bitcoin Electrum wallet

Their website say summer 2016 and Monero support  too 

So it connects to a remote node?

[dealeris]

Here he is, being interviewed there on Bitcoin Uncensored (still live, so go back to about 6 minutes in from the beginning):

https://youtu.be/PKd7F-10lxM

Fluffypony mentioned that in March they are planning to change block time from one minute to two minutes. Will block reward change as well?

[binaryFate]

Here he is, being interviewed there on Bitcoin Uncensored (still live, so go back to about 6 minutes in from the beginning):

https://youtu.be/PKd7F-10lxM

Fluffypony mentioned that in March they are planning to change block time from one minute to two minutes. Will block reward change as well?

Yes of course, it will be multiplied by two, so that the issuance rate will not change.

[dEBRUYNE]

Here he is, being interviewed there on Bitcoin Uncensored (still live, so go back to about 6 minutes in from the beginning):

https://youtu.be/PKd7F-10lxM

Fluffypony mentioned that in March they are planning to change block time from one minute to two minutes. Will block reward change as well?

Yes, block reward will be adjusted accordingly. For example, the block reward is currently ~7 XMR per block, with 2 minute blocks it will be ~14 XMR per block. In other words, the reward per minute will stay the same.

[bitebits]

With the recent DDOS attack on specifically the bitcoin classic nodes, I wonder how much of a weak spot such an attack is on Monero.

Monero currently has +/- 150 nodes. So significantly less in numbers. Would such an attack be feasible? And what would happen if such an attack would last for some time?

I can as well imagine a scenario that most nodes are under attack, except the potential malicious one of the attacker.

[GingerAle]

With the recent DDOS attack on specifically the bitcoin classic nodes, I wonder how much of a weak spot such an attack is on Monero.

Monero currently has +/- 150 nodes. So significantly less in numbers. Would such an attack be feasible? And what would happen if such an attack would last for some time?

I can as well imagine a scenario that most nodes are under attack, except the potential malicious one of the attacker.

If its as simple as sending many transactions, the blocksize would increase, miners would receive more fees, and life would continue on as normal. This is not an attack vector on the Monero network.

The only type of attack currently possible in Monero is finding an exploit that makes the network fork, which is an attack possible with all cryptocurrencies, hence why everything is done so carefully.

[bitebits]

With the recent DDOS attack on specifically the bitcoin classic nodes, I wonder how much of a weak spot such an attack is on Monero.

Monero currently has +/- 150 nodes. So significantly less in numbers. Would such an attack be feasible? And what would happen if such an attack would last for some time?

I can as well imagine a scenario that most nodes are under attack, except the potential malicious one of the attacker.

If its as simple as sending many transactions, the blocksize would increase, miners would receive more fees, and life would continue on as normal. This is not an attack vector on the Monero network.

The only type of attack currently possible in Monero is finding an exploit that makes the network fork, which is an attack possible with all cryptocurrencies, hence why everything is done so carefully.

That is not really what I mean, or I don't understand the DDOS attacks on the bitcoin classic nodes.

What I mean is no attack from inside-out flooding the network with spam transactions, but just constant hammering the Monero nodes with requests for data. You read stories about people running their bitcoin classic node from home or even VPS, and get completely shut down.

[GingerAle]

Potential Monero service - Money Mover.

Would this be possible? During times of transaction delay in first-generation currency networks (fixed block sizes), could a bitcoin user submit a transaction for X bitcoin, and then have X worth of Monero sent to them? Eventually, the bitcoin transaction will clear and be deposited to the Monero sender's account.

Of course, this would depend on the bitcoin user's intended receiving party being able to accept monero.

Did replace by fee get integrated into bitcoin? RBF would negate this service. Although multisig could be used to prevent that.

[GingerAle]

With the recent DDOS attack on specifically the bitcoin classic nodes, I wonder how much of a weak spot such an attack is on Monero.

Monero currently has +/- 150 nodes. So significantly less in numbers. Would such an attack be feasible? And what would happen if such an attack would last for some time?

I can as well imagine a scenario that most nodes are under attack, except the potential malicious one of the attacker.

If its as simple as sending many transactions, the blocksize would increase, miners would receive more fees, and life would continue on as normal. This is not an attack vector on the Monero network.

The only type of attack currently possible in Monero is finding an exploit that makes the network fork, which is an attack possible with all cryptocurrencies, hence why everything is done so carefully.

That is not really what I mean, or I don't understand the DDOS attacks on the bitcoin classic nodes.

What I mean is no attack from inside-out flooding the network with spam transactions, but just constant hammering the Monero nodes with requests for data. You read stories about people running their bitcoin classic node from home or even VPS, and get completely shut down.

Oh sorry - its my lack of understanding on the bitcoin classic DDOS. I can't comment on that.

[Drhiggins]

correct me if i am wrong

is it possible to see the balance of any monero address on the online explorer 

No

This question with the answer smooth gave is exactly why I love Monero.

Monero the best privacy in the game, that is why it has been a winner from day one.

[dEBRUYNE]

Experimental Trezor Firmware Testing (testers needed):

https://forum.getmonero.org/4/academic-and-technical/2495/experimental-trezor-firmware-testing

[Drhiggins]

Experimental Trezor Firmware Testing (testers needed):

https://forum.getmonero.org/4/academic-and-technical/2495/experimental-trezor-firmware-testing

Nice, If I had a Trezor I'd help out.  Hope the work testing pans out.

[ArticMine]

Potential Monero service - Money Mover.

Would this be possible? During times of transaction delay in first-generation currency networks (fixed block sizes), could a bitcoin user submit a transaction for X bitcoin, and then have X worth of Monero sent to them? Eventually, the bitcoin transaction will clear and be deposited to the Monero sender's account.

Of course, this would depend on the bitcoin user's intended receiving party being able to accept monero.

Did replace by fee get integrated into bitcoin? RBF would negate this service. Although multisig could be used to prevent that.

I doubt this could work. since this leaves the sender of the XMR vulnerable to a zero confirmation Bitcoin transaction. Of course one can introduce some external source of trust for zero confirmation transactions via multi signatures.  

Edit: This is the kind of thing the Bitcoin Lightning Network is trying to develop, but even there one eventually has to confirm on the main Bitcoin chain.

[CrowdWhale]

I've always believed, and if I were more businessman and less trader or coder I would have started it, that eventually you will have companies that guarantee transactions. If you go to a coffee shop and buy a latte, you run your "card", the company approves the transaction, you go on your way, and later the BTC actually arrives.

[iCEBREAKER]

With the recent DDOS attack on specifically the bitcoin classic nodes, I wonder how much of a weak spot such an attack is on Monero.

Monero currently has +/- 150 nodes. So significantly less in numbers. Would such an attack be feasible? And what would happen if such an attack would last for some time?

I can as well imagine a scenario that most nodes are under attack, except the potential malicious one of the attacker.

Let's try to get high-availability, high-performance Monero nodes spread as widely as possible.

Ideally, we'd have one or two in every data center (and behind every anti-ddos specialist) on the planet.  Not that AWS is anything great, but the concept/execution here is pretty slick: https://classic-cloud.net/

But how about first filling in the largest holes in global/political/demographic coverage, as according to https://monerohash.com/nodes-distribution.html?

We could start 'adopting' countries and putting up nodes in their capitals.

I propose prioritizing Australia, Bangladesh, Brazil, Colombia, Costa Rica, Chile, Egypt, Iceland, India, Indonesia, Iran, Israel, Kuwait, Mexico, New Zealand, Nigeria, Pakistan, Philippines, Thailand, Turkey, UAE, and Vietnam because their local nodes-per-citizen ratio is zero and for several international bandwidth is at a premium.

The list is partially based on https://en.wikipedia.org/wiki/List_of_metropolitan_areas_by_population

[GingerAle]

I think there is some type of ddos built in. For instance, nodes that send crap get banned from connecting to your node. I don't know about nodes that keep requesting information. Could this be built in?

[Drhiggins]

With the recent DDOS attack on specifically the bitcoin classic nodes, I wonder how much of a weak spot such an attack is on Monero.

Monero currently has +/- 150 nodes. So significantly less in numbers. Would such an attack be feasible? And what would happen if such an attack would last for some time?

I can as well imagine a scenario that most nodes are under attack, except the potential malicious one of the attacker.

Let's try to get high-availability, high-performance Monero nodes spread as widely as possible.

Ideally, we'd have one or two in every data center (and behind every anti-ddos specialist) on the planet.  Not that AWS is anything great, but the concept/execution here is pretty slick: https://classic-cloud.net/

But how about first filling in the largest holes in global/political/demographic coverage, as according to https://monerohash.com/nodes-distribution.html?

We could start 'adopting' countries and putting up nodes in their capitals.

I propose prioritizing Australia, Bangladesh, Brazil, Colombia, Costa Rica, Chile, Egypt, Iceland, India, Indonesia, Iran, Israel, Kuwait, Mexico, New Zealand, Nigeria, Pakistan, Philippines, Thailand, Turkey, UAE, and Vietnam because their local nodes-per-citizen ratio is zero and for several international bandwidth is at a premium.

The list is partially based on https://en.wikipedia.org/wiki/List_of_metropolitan_areas_by_population

This is a good idea.  I think once Monero gets a better following then perhaps a bounty could be put up for setting up some basic node guidelines and maybe 6 initial nodes around the world could be set up. Strict guidelines for how they should be set up and updated should be established by the core dev team.  Question is who is going to pay for it.  Perhaps once more transaction fees are generated on the network then a small portion of that could be used to set up, establish and maintain some nodes around the world.  These nodes would be overseen by perhaps some of the devs or appointed trusted folks involved with Monero development.  Keep in mind I'm just thinking as i type so some of these ideas might not work.  I think BTC should have used a small portion of the transaction fees to establish better node integrity. If they had they might not be having the issues they have now with slow the transactions.  I realize Monero is very private currency but if a trusted committee oversaw these nodes it might build better network transaction backbone over the long haul.  Just a thought.  

Don't want to get to centralized but Monero has shown to be community supported and some small thing like nodes are something to seriously consider in the future especially if BTC users start using XMR for privacy.  After all using some funds to keep a basic network up 24/7 isn't encroaching on anyone's privacy and some of the developers out there might could use a well known established trusted node for their development projects.

[iCEBREAKER]

This is a good idea.  I think once Monero gets a better following then perhaps a bounty could be put up for setting up some basic node guidelines and maybe 6 initial nodes around the world could be set up. Strict guidelines for how they should be set up and updated should be established by the core dev team.  Question is who is going to pay for it.  Perhaps once more transaction fees are generated on the network then a small portion of that could be used to set up, establish and maintain some nodes around the world.  These nodes would be overseen by perhaps some of the devs or appointed trusted folks involved with Monero development.  Keep in mind I'm just thinking as i type so some of these ideas might not work.  I think BTC should have used a small portion of the transaction fees to establish better node integrity. If they had they might not be having the issues they have now with slow the transactions.  I realize Monero is very private currency but if a trusted committee oversaw these nodes it might build better network transaction backbone over the long haul.  Just a thought.  

Don't want to get to centralized but Monero has shown to be community supported and some small thing like nodes are something to seriously consider in the future especially if BTC users start using XMR for privacy.  After all using some funds to keep a basic network up 24/7 isn't encroaching on anyone's privacy and some of the developers out there might could use a well known established trusted node for their development projects.

Glad you like the idea.  The Core Devs already use some general funds to support bootstrapping nodes but IDK how many or where.

No point in doing my plan in a centralized way.  My vision was for individuals to step up and 'adopt' disenfranchised countries for nothing more than bragging rights, the nerdy joy of setting up servers, and the promise of adding value to the network/their stacks of XMR.

If finances constrained an otherwise willing participant, they could use the FFS or their sig space to request targeted donations.

The only problem I see with this is if specific nodes are associated with individuals.  The DashHoles would be like, 'hey let's ddos iCEBREAKER's nodes for lulz, Because Fuck Him amirite?'   

Perhaps a Monero Donator Hall of Fame Annex is in order, to list Hero Mustangs in order of how many potential users they've provided local access to.

[Drhiggins]

This is a good idea.  I think once Monero gets a better following then perhaps a bounty could be put up for setting up some basic node guidelines and maybe 6 initial nodes around the world could be set up. Strict guidelines for how they should be set up and updated should be established by the core dev team.  Question is who is going to pay for it.  Perhaps once more transaction fees are generated on the network then a small portion of that could be used to set up, establish and maintain some nodes around the world.  These nodes would be overseen by perhaps some of the devs or appointed trusted folks involved with Monero development.  Keep in mind I'm just thinking as i type so some of these ideas might not work.  I think BTC should have used a small portion of the transaction fees to establish better node integrity. If they had they might not be having the issues they have now with slow the transactions.  I realize Monero is very private currency but if a trusted committee oversaw these nodes it might build better network transaction backbone over the long haul.  Just a thought.  

Don't want to get to centralized but Monero has shown to be community supported and some small thing like nodes are something to seriously consider in the future especially if BTC users start using XMR for privacy.  After all using some funds to keep a basic network up 24/7 isn't encroaching on anyone's privacy and some of the developers out there might could use a well known established trusted node for their development projects.

Glad you like the idea.  The Core Devs already use some general funds to support bootstrapping nodes but IDK how many or where.

No point in doing my plan in a centralized way.  My vision was for individuals to step up and 'adopt' disenfranchised countries for nothing more than bragging rights, the nerdy joy of setting up servers, and the promise of adding value to the network/their stacks of XMR.

If finances constrained an otherwise willing participant, they could use the FFS or their sig space to request targeted donations.

The only problem I see with this is if specific nodes are associated with individuals.  The DashHoles would be like, 'hey let's ddos iCEBREAKER's nodes for lulz, Because Fuck Him amirite?'   

Perhaps a Monero Donator Hall of Fame Annex is in order, to list Hero Mustangs in order of how many potential users they've provided local access to.

Ha ha lol you said DashHoles.  Funny but yeah those guys just might ddos attack those that pose threat to their pre-mine shit coin.     Good idea on the donator hall of fame but my ego doesn't need it beside I'd wear something ridiculous in my hall of fame photo just for the hell of it.