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

[birr]

How many coins does polo impose withdrawal restrictions on?
If it's only xmr, then it's not a red flag of exchange insolvency.

[smooth]

How many coins does polo impose withdrawal restrictions on?
If it's only xmr, then it's not a red flag of exchange insolvency.

Essentially all of them when you consider the KYC restrictions. The restrictions on XMR are more severe (and additive), however.

I'm not suggesting that these KYC restrictions are not serving their stated purpose, but they do have a secondary effect in practice.

Which do you think has a higher risk of hidden insolvency? An exchange that lets everyone withdraw as much as they want at any time and never imposes restrictions or delays or limits, or one that has delay and limits, even if ostensibly for another purpose?

Bottom line: Hold your own private keys (and do so carefully).

[PGPpfKkx]

I bought XMR on Polo and want to hold it long-term. can someone tell me what is the best wallet to use, is MyMonero 100% secure somehow or is it like an exchange that can be hacked?

[birr]

I don't think Polo's limit on xmr withdrawals has a hygienic purpose, i.e. to prevent fraud or hacks.  I just wish they wouldn't do it.

[GingerAle]

I bought XMR on Polo and want to hold it long-term. can someone tell me what is the best wallet to use, is MyMonero 100% secure somehow or is it like an exchange that can be hacked?

the best wallet is simplewallet.

all you need to do is download simplewallet and get an address. Once you have an address, you can withdraw to that address. If you actually want to check the balance, you'll have to use your own daemon or a remote daemon (like as described at moneroworld.com).

MyMonero should be used with "pocket money". MyMonero gets your private viewkey but not your spend key. They can't be hacked. But your computer can still be hacked. THere have been instances of people losing money on MyMonero because of someone snooping on the client side (not the MyMonero server).

[PGPpfKkx]

I bought XMR on Polo and want to hold it long-term. can someone tell me what is the best wallet to use, is MyMonero 100% secure somehow or is it like an exchange that can be hacked?

the best wallet is simplewallet.

all you need to do is download simplewallet and get an address. Once you have an address, you can withdraw to that address. If you actually want to check the balance, you'll have to use your own daemon or a remote daemon (like as described at moneroworld.com).

MyMonero should be used with "pocket money". MyMonero gets your private viewkey but not your spend key. They can't be hacked. But your computer can still be hacked. THere have been instances of people losing money on MyMonero because of someone snooping on the client side (not the MyMonero server).

I am a sucker for GUI. Is light wallet still OK? Looks a bit dated

[novag]

Coin market still wavering and resolute, waiting for positive news, however big or small coin holders are mostly playing a long game that is only for the benefit of the coin and it just pushes the price higher and higher and will push to at least 0.01

[GingerAle]

I bought XMR on Polo and want to hold it long-term. can someone tell me what is the best wallet to use, is MyMonero 100% secure somehow or is it like an exchange that can be hacked?

the best wallet is simplewallet.

all you need to do is download simplewallet and get an address. Once you have an address, you can withdraw to that address. If you actually want to check the balance, you'll have to use your own daemon or a remote daemon (like as described at moneroworld.com).

MyMonero should be used with "pocket money". MyMonero gets your private viewkey but not your spend key. They can't be hacked. But your computer can still be hacked. THere have been instances of people losing money on MyMonero because of someone snooping on the client side (not the MyMonero server).

I am a sucker for GUI. Is light wallet still OK? Looks a bit dated

Its still OK if it works for you. For some reason I can never get it to work. Java on my crappy laptop situation just doesn't work.

Yesh, we're all suckers for the GUI. The new and fancy one is coming out soon... but in the meantime, you could try light wallet or simplewallet.

[phishead]

I bought XMR on Polo and want to hold it long-term. can someone tell me what is the best wallet to use, is MyMonero 100% secure somehow or is it like an exchange that can be hacked?

the best wallet is simplewallet.

all you need to do is download simplewallet and get an address. Once you have an address, you can withdraw to that address. If you actually want to check the balance, you'll have to use your own daemon or a remote daemon (like as described at moneroworld.com).

MyMonero should be used with "pocket money". MyMonero gets your private viewkey but not your spend key. They can't be hacked. But your computer can still be hacked. THere have been instances of people losing money on I MyMonero because of someone snooping on the client side (not the MyMonero server).

Couldn't the same thing be said for using your own daemon running simplewallet?

[luigi1111]

Ok thanks.
And why isn't this the same issue for other coins ?

I think Polo is just lazy WRT XMR; they don't sweep their wallet's dust and allow large withdrawals, and at the same time use a pretty hefty fee (higher than the average network fee for sure).

Sweeping wouldn't reduce the actual costs though. As long as people make many small deposits and Poloniex doesn't impose any kind of fees on the deposit side (which aren't a standard in the industry so might be a tough sell) then those costs are going to be shifted to Poloniex or its trading and withdrawing customers. Guess which one Poloniex chooses?

Paying higher than average network fees are another matter though. I have no idea why they do that.

Oh, yes. I meant that to be an example of laziness rather than fee reduction. Random input selection plus tons of small inputs equals large transactions. I'm guessing 1,000 was chosen because they had withdrawals fail for being too large, i.e., some kind of shot-in-the-dark lowest common denominator.

I bet with the new median from March most of those large tx issues are resolved. I re-reference laziness.

[DonYo]

I bought XMR on Polo and want to hold it long-term. can someone tell me what is the best wallet to use, is MyMonero 100% secure somehow or is it like an exchange that can be hacked?

https://moneroaddress.org/

[iCEBREAKER]

GUI
soon...

[PovertyByte]

I'm wondering. Is MinerGate a good XMR miner or is it crap?

I tested it with ETH/ETC and the hash rates were awful. I am wondering if MinerGate is the same thing with all coins?

[Jungian]

I'm wondering. Is MinerGate a good XMR miner or is it crap?

I tested it with ETH/ETC and the hash rates were awful. I am wondering if MinerGate is the same thing with all coins?

It's a scam site. They run run a 100% scam casino, fairproof.com. Use at your own risk

[dEBRUYNE]

Weekly BBA $XMR Price Report

https://www.reddit.com/r/Monero/comments/4x2t5a/weekly_bba_xmr_price_report/

[Nik4691]

I'm wondering. Is MinerGate a good XMR miner or is it crap?

I tested it with ETH/ETC and the hash rates were awful. I am wondering if MinerGate is the same thing with all coins?

It's a scam site. They run run a 100% scam casino, fairproof.com. Use at your own risk

No, it isn't a scam site.
It was the fist step to go in monero mining for the most of us (because of the GUI miner).
Then we realized that that it was not the most versatile with new miners and we moved in to other pools.
The current situation is, you can run every miner you want in the command line in MinerGate.
But if you care about the monero network, you better avoid large pools.

[MoneroMooo]

I suppose it will be time for a new FFS thread for him soon™.

I think we should do it now. Let's fund the completion of RingCT, beta test and release.

For now, I'll continue working on finishing the RingCT integration and related bits, without defined time constraints.
Once the summer is out, I might go for another similar contract.

[GingerAle]

I suppose it will be time for a new FFS thread for him soon™.

I think we should do it now. Let's fund the completion of RingCT, beta test and release.

For now, I'll continue working on finishing the RingCT integration and related bits, without defined time constraints.
Once the summer is out, I might go for another similar contract.

Three cheers for the mooo!

[PovertyByte]

I'm wondering. Is MinerGate a good XMR miner or is it crap?

I tested it with ETH/ETC and the hash rates were awful. I am wondering if MinerGate is the same thing with all coins?

It's a scam site. They run run a 100% scam casino, fairproof.com. Use at your own risk

No, it isn't a scam site.
It was the fist step to go in monero mining for the most of us (because of the GUI miner).
Then we realized that that it was not the most versatile with new miners and we moved in to other pools.
The current situation is, you can run every miner you want in the command line in MinerGate.
But if you care about the monero network, you better avoid large pools.

It sort of is a scam. Advertised as mining for regular computers when realistically not a single coin on there is profitable on regular computers. It just suckers a bunch of people to mine miniscule amounts of coins they will never withdraw and they TOS might contain something where they seige your balance after some period of inactivity. A newbie GUI miner would do a lot of justice if they hid most of the dead shitcoins and left them to be shown in the settings for the miners who actually want those coins.

I am interested in Monero. I'd like to mine a little bit but my GTX 1070 is just showing an incredibly inconsisstent hash rate on MinerGate and I'd like to know what a real miner would do before I set up a Monero wallet and miner.

[dEBRUYNE]

Understanding Monero Cryptography, Privacy Part 2 -- Stealth Addresses

https://steemit.com/monero/@luigi1111/understanding-monero-cryptography-privacy-part-2-stealth-addresses