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

[GingerAle]

when will gui wallet be released ?


if I download the current wallet - do I just run bitmorerod? and wait for it to sync? What is the other stuff in that download ? blockchain dump etc

(I'm assuming windows, otherwise just remove the .exe)

These two are the main pieces of software:

bitmonerod.exe - this is the daemon. This is the software that connects you to the Monero peer to peer network, downloads the blockchain, and can broadcast your transaction to the rest of the network.
simplewallet.exe - this is the wallet software. This software can create a new Monero wallet, restore a Monero wallet from word seed, and allows you to transact with Monero. The wallet software connects to bitmonerod. So in order to use Monero properly, you need both of these. First, the daemon has to synchronize (download the entire blockchain), and then you can use simplewallet to transact. (You can also use remove nodes, as described at www.monerworld.com, though its best to run your own node)

The rest of the files are extra utilities:

blockchain_dump.exe - i don't even know what this does
blockchain_export.exe - converts the blockchain database into a raw format so you can do other stuff.
blockchain_import.exe - imports a raw format
cn_deserialze.exe - no idea
simpleminer.exe - a built in pool miner that no one uses anymore

This describes using simplewallet:
https://getmonero.org/knowledge-base/user-guides/simplewallet

This describes running a node:
https://getmonero.org/getting-started/running

Good luck!

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[Blazin8888]

Can I mine XMR from my wallet? I just typed the "help command" and saw a command that said start mine. - what is the easiest way for me to begin to mine XMR


1. Can I run this wallet from  USB stick?

2. Do i need to run BITmonerod when I run simple wallet ?

[c789]

Thanks pookielax31. The TOR Monero node will be a great service, and the I2P integration (when it's done) will also be huge. Just in case anyone wants to use TOR with Monero in a different way, there's: https://github.com/monero-project/bitmonero#using-tor

SIGAINT's statements about Monero and other cryptocurrencies are spot-on.

[Blazin8888]

Also, what are Ring Signatures and when will they be implemented into the wallet? Do I need to mix my coins like with dash? - if so how? 

[c789]

Also, what are Ring Signatures and when will they be implemented into the wallet? Do I need to mix my coins like with dash? - if so how?  

Ring signatures are already part of the system (see the first post in this thread with the pics). As for mixing Monero, it's part of the "transfer" command, like:

transfer 4 [XMR Address] [XMR Amount] [Optional Payment ID]

The "4" is the mixin number. You can make it as high as you want (theoretically). I've used a mixin of 100 before, but usually just use somewhere between 4 (the minumum) and 10. The higher the mixin number, the more likely your transaction fee will be higher. Coins are mixed when you send XMR with the transfer command. Other than that, you don't have to do anything.

See the first post in this thread with the pics for more info about how mixin works. A really cool feature is that you don't need to wait for other people making transactions with "transfer" at the same time to be using the XMR network. Mixins use historical blockchain data (I may be wording that incorrectly, but that's essentially what happens) and this further conceals your identity.

[Blazin8888]

Why XMR vs DASH? - my final question.

[Nik4691]

Why XMR vs DASH? - my final question.

https://bitcointalk.org/index.php?topic=995710.0

[c789]

Why XMR vs DASH? - my final question.

Ask away - no problem!

Monero:

• Private: Monero uses a cryptographically sound system that allows you to send and receive funds without your transactions being publicly visible on the blockchain (the distributed ledger of transactions). This ensures that your purchases, receipts, and other transfers remain private by default. Some coins have a "Rich List" which allows anyone to see which account has the most coins. Since Monero is private, a Monero Rich List can't exist.   http://moneroblocks.info/richlist
• Untraceable: By taking advantage of ring signatures (a special property of certain types of cryptography), Monero enables untraceable transactions. This means it's ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to particular user.
• Secure: Using the power of a distributed peer-to-peer consensus network, every transaction is cryptographically secured. Individual accounts have a 25-word mnemonic seed displayed when created, which can be written down to back up the account. A password is mandatory when creating a wallet, and account files are encrypted with a passphrase to ensure they are worthless if stolen.
• Fungible: All coins are equal and have the same value. A user, vendor, or any other entity can't block or blacklist certain Monero coins since the transaction history of Monero coins is ambiguous.
• Decentralized: All Monero nodes are equal. There is no superclass of nodes which have more influence or control over transactions than other nodes. No person or entity can trace transactions by owning multiple nodes. Additionally, there is no trusted setup. This means that the need to trust a person or entity is not a factor. The only things that need to be trusted are the source code (which can be verified by anyone) and math.

Monero has been 100% open source from its inception, meaning anyone can view the software's source code to verify that no backdoors exist and that the software is secure.

Monero also has peer-reviewed research papers which mathematically and systematically verify all of its properties listed above. https://lab.getmonero.org/

DASH

• Not Private: DASH has a Rich List, so this is not a private coin. The financial details of coin addresses are visible to anyone examining the blockchain. https://bitinfocharts.com/top-100-richest-darkcoin-addresses.html
• Not Untraceable:Transactions are routed through a series of "masternodes" to make them untraceable. This practice could work if all masternode operators had only pure motives. However, if a government, group of hackers, other entity, or even an individual bought many masternodes (there would be no way to know if this occured), and if the transaction passed through a route where all of the masternodes were owned by that entity, then the transaction could be traced by that entity. Given the relatively low cost of masternodes and the enormous budget of governments and some organizations, the possibility that coins can be traced is very real.
• Secure:Transactions are cryptographically secure.
• Not Fungible:Since transactions are not private, the potential exists for an entity to block or blacklist certain coins, making them less valuable than the others.
• Not Decentralized:Not all DASH nodes are equal. There is a superclass of nodes, called "masternodes" whose owners have more influence over the system than regular node operators. Despite their claims of being fully decentralized, this makes DASH semi-centralized instead of the ideal 100% decentralized system.

Also see http://weuse.cash/2016/06/09/btc-xmr-zcash/

[Anon136]

Can I recover my wallet with the mnemonic phrase password and wallet name? Or do I actually need to find the wallet file?

[jwinterm]

Can I recover my wallet with the mnemonic phrase password and wallet name? Or do I actually need to find the wallet file?

You don't even need the name, if you have the mnemonic seed you can recover your wallet.

[Anon136]

Can I recover my wallet with the mnemonic phrase password and wallet name? Or do I actually need to find the wallet file?

You don't even need the name, if you have the mnemonic seed you can recover your wallet.

Oh thank god.

Address? I'll send you a pittance for the help.

[maxpowerzz92]

Why XMR vs DASH? - my final question.

Why don't you ask this on the DASH forum also?  Otherwise, leave your "supposed" expertise comments here.  @$$breaker is already our pet troll.

[Blazin8888]

I see XMR as a better place for my money than DASH from an investing standpoint...ive been watching XMR price over the past few months and it is very very stable. Just have a bunch of XMR questions first.

[jwinterm]

Can I recover my wallet with the mnemonic phrase password and wallet name? Or do I actually need to find the wallet file?

You don't even need the name, if you have the mnemonic seed you can recover your wallet.

Oh thank god.

Address? I'll send you a pittance for the help.

Finally got my open alias setup. It should work to send to jwinterm.myrcraft.com

[phishead]

I see XMR as a better place for my money than DASH from an investing standpoint...ive been watching XMR price over the past few months and it is very very stable. Just have a bunch of XMR questions first.

While you can always ask and get questions here, you can always look for your question on the monero stack exchange site and if that doesn't answer your questions or it's not already on there go ahead and ask away!

[Anon136]

Why XMR vs DASH? - my final question.

Dash is like a leaking dam. First they took bitcoin then decided they were going to add coinjoin style mixing to it. So its like they took a machine and hammered it into the side of the dam. Of course that led to unforeseen problems, leaks if you will. So they come up with adhock solutions to each problem in turn, to continue the analogy, they threw crude patches on the leaks. These patches create new leaks so they patch those. So like imagine a guy trying to stick his fingers in the leaks in a dam but new ones keep popping up. You have just pictured the dash devs.

Cryptonote (the tech behind monero) on the other hand was designed with forethought and purpose as a comprehensive system for achieving its aims.

Also you can roughly think of monero as mixing with everyone else on the network rather than a group small enough to avoid being prohibitively large (like coinjoin).

Additionally coinjoin only offers (inferior to monero) untracability but still it has linkability. (*edit* this could be out of date, it would have been easy for them to copy monero in this regard, I bet they have) Monero offers untracability and unlinkability.

But I mean dash has better marketing. If you are into that.

[Blazin8888]

I see XMR as a better place for my money than DASH from an investing standpoint...ive been watching XMR price over the past few months and it is very very stable. Just have a bunch of XMR questions first.

Best place to get answers is https://monero.stackexchange.com/ We are 1 of only 3 cryptos (Besides Bitcoin and Ethereum) to make it through stack exchange to the beta....... Good luck on finding the answers your looking for Blazin8888

Cant anyone post to stack exchange? - thanks for all the help everyone much appreciated.

[phishead]

I see XMR as a better place for my money than DASH from an investing standpoint...ive been watching XMR price over the past few months and it is very very stable. Just have a bunch of XMR questions first.

Best place to get answers is https://monero.stackexchange.com/ We are 1 of only 3 cryptos (Besides Bitcoin and Ethereum) to make it through stack exchange to the beta....... Good luck on finding the answers your looking for Blazin8888

Cant anyone post to stack exchange? - thanks for all the help everyone much appreciated.

The more "rep" you have, the more your allowed to post/up vote/edit/etc on there as to ween out people who just want to make an account to troll (at least that's what conclusion I have come up for why they set it up that way).

[Globb0]

I got excited a new Monero exchange was coming. Bit disappointed it turned out to be just a Q + A page.

[jwinterm]

I got excited a new Monero exchange was coming. Bit disappointed it turned out to be just a Q + A page.

Just a Q + A page is a bit of an understatement. Only Bitcoin and ethereum also have stack exchange sites, and the stack community in general will be exposed to Monero possibly for the first time if they frequent area 51 part of the site at all.