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

[Hueristic]

Can anybody explain why me why Monero is so high market cap compared to other anon coins.

Is it more centralized then others or ? Im looking more into anon coins now but i so many pages to read

iT'S THE OPPOSITE, iT'S completely DECENTRALIZED!

WOOPS SORRY BOUT THE CAPS LOCK.

No need to apologize.  I absolve you.

Be careful in the future, OK?

I shall heed thy warnings sire.

Call me crazy but I believe this is an optimal time to go short on XMR.  Showing some resistance upward, and major buy walls at around .0071 and .005 mean that price will fall to match the highest liquidity.  As BTC surpasses $1k that hype will drown out XMR.  Remember, buy the hype, sell the news.  GUI is out, hype will die soon.  Don't say I didn't warn you.  It's a risk to go short, but far less of a risk than going long.  What goes up must come down.  Dark market transaction is overly exaggerated, XMR has nowhere near the adoption of a fraction of BTC, not even close. 

Who cares?! Fuck your stupid trading talk and greed. It may or may not be a good time to sell now, but only if you are mainly involved in this project for speculative investments and your personal gains.
Which surprise, surprise many people are not.

I think what he means is that you posted this in the wrong thread.

And I agree.

Unfortunately, Monero is now facing a new imminent danger...trivially attackable by a single pool (and one whose admin has scammed the Monero community before, so don't think this would "never happen")...

Is Monero able to be attacked in the same manner as Bitcoin if one pool garners 51% of the mining power? Or are you talking about another type of attack?

I don't know any that aren't.

Tell me please, My Monero wallet (https://mymonero.com) safe, stable? Normal use it to store XMR coins?
Thank you for answer.

NO web wallets are safe PERIOD. Only put what you can afford to lose in them, E.I. pocket change.

Unfortunately, Monero is now facing a new imminent danger. The strength of its network is now much less than it was just a few months ago. As shown by https://monerohash.com/#network, the network is on the verge of being trivially attackable by a single pool (and one whose admin has scammed the Monero community before, so don't think this would "never happen").

This shows that the glut of new miners is only good if decentralization isn't endangered by it. The network hash rate is now at or near the highest it's ever been, and yet the network is more fragile. It is only a small consolation that those who are undermining it are the ones who are trying for short term profit from it, and thus will be those who will lose from it.

It's not quite too late, though. For those of you who may be mining on dwarfpool and who don't intend to undermine the Monero network, choose among the smaller pools on that link, and help secure the network whose longevity is ultimately where your profit comes from.

YES, This is extremely important, I mine infrequently (electric is sky high here) and always pick small pools. The payouts are the same over time. Dwarfpool is run by a scammer so don't say you weren't warned. And mining on your own is not impossible.

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[MoneroMooo]

Dwarfpool on the mission to destroy Monero?

I have no reason to believe this is the goal.
However, I see this the same way as you don't stand in the middle of traffic even if no car wants to hit you. Don't tempt fate.

And Monero is 51% attackable similarly to Bitcoin, yes. The damage you can do is a bit different (you can't censor old transactions as easily, since private (yay!)), but you can double spend, for example.

I'm adding a pool mining screen to the GUI right now, it'll be in the next release, and should make it easy for people to mine the right way. Go go go!

[Hueristic]

Dwarfpool on the mission to destroy Monero?

I have no reason to believe this is the goal.
However, I see this the same way as you don't stand in the middle of traffic even if no car wants to hit you. Don't tempt fate.

And Monero is 51% attackable similarly to Bitcoin, yes. The damage you can do is a bit different (you can't censor old transactions as easily, since private (yay!)), but you can double spend, for example.

I'm adding a pool mining screen to the GUI right now, it'll be in the next release, and should make it easy for people to mine the right way. Go go go!

Maybe we should add a rating system in the op for pools? And remove those that get to big until their percentage lowers?

[kitsune80]

today start a new xmr monero pool about mining for home computers. You can use at this url: http://xmr.foreverpool.org/

[rickgejr]

The potential for 51% attack on Monero was discussed a few years ago here:

https://www.reddit.com/r/Monero/comments/26lqrp/what_about_51/

...that there can be no double spends. Has that changed?

But what of "breaking consensus?"

[cryptomaxsun]

Tell me, how much weight blockchain Monero?
And it is possible to run gui-wallet without downloading the entire blockchain?

[dEBRUYNE]

Tell me, how much weight blockchain Monero?
And it is possible to run gui-wallet without downloading the entire blockchain?

[1] Around 8-9 GB.

[2] Yes, you can use a remote node. However, it is discouraged to use one, because it's detrimental to privacy. Instructions on how to use a remote node with the GUI can be found here:

https://getmonero.org/2016/12/22/monero-core-gui-beta-released.html

[cryptomaxsun]

Tell me, how much weight blockchain Monero?
And it is possible to run gui-wallet without downloading the entire blockchain?

[1] Around 8-9 GB.

[2] Yes, you can use a remote node. However, it is discouraged to use one, because it's detrimental to privacy. Instructions on how to use a remote node with the GUI can be found here:

https://getmonero.org/2016/12/22/monero-core-gui-beta-released.html

Thank you, very grateful!

[MoneroMooo]

The potential for 51% attack on Monero was discussed a few years ago here:

https://www.reddit.com/r/Monero/comments/26lqrp/what_about_51/

...that there can be no double spends. Has that changed?

But what of "breaking consensus?"

Nothing's changed. I think he meant that Monero is double spend proof in the absence of the ability to reorganize the chain (ie, key images ensure that an output can't be spent twice).
I've asked him if that's what he meant, but as far as I know, someone with enough hash to rewrite the chain is able to double spend, as in other coins.

[rickgejr]

@MoneroMooo

Wow.

[pönde]

When using cli or gui and sending some xmr away, is the exhcange returned to the same address of the seed? So can the wallet files be deleted and later the wallet recovered with the original seed with the exchance and rest of the xmr inside?

Yes, you need only seed (25 words) to restore your wallet.
To be sure just do it yourself in gui or cli wallet and check that generated monero address exactly the same everytime.

Yes. Thats deninitely true. The same seed generates definitely the same address every time.

But main question is, does the Monero differ from Bitcoin in the way that exchange of an transaction is returned when send transaction is made for a part of the bitcoins in the address.

In the case of Bitcoin next happens. When address A contains 10 BTC and 3 of them are sent to the address B. Wallet application takes all 10 BTC out of address A, sends 3 BTC to address B and creates new address C to the wallet application itself and sent the remaining 7 BTC the exchange there to address C. And now the address A is empty.

If user thinks that the remaining 7 BTC are in the address A stores it and its private key, and deletes the wallet files, he loses those 7 BTC which are in the address C. So he has to safe the adress C and more precisely the private key of the address C to have access to those 7 BTC, before he deletes the wallet applicatios file.

But I gues the Monero works different way? The way that an ordinary human is expects the wallet to behave. When a send transaction is made, the Monero wallet, CLI and GUI send the remaining XMR, the exchange back to the original address which has been created from a 25 word seed?

So when the user just stores the 25 word seed, he has access to all the XMR and the exchange of the transactiosn in spite of how many send transactions and received transactions has been made from the address that has been generated from that seed?

When using cli or gui and sending some xmr away, is the exhcange returned to the same address of the seed? So can the wallet files be deleted and later the wallet recovered with the original seed with the exchance and rest of the xmr inside?

Correct.

Propably dEBRUYNE here understood what I originally ment? Like I explained above.

[vleroybrown]

Is there a solid dice site for Moreno? 

[dEBRUYNE]

When using cli or gui and sending some xmr away, is the exhcange returned to the same address of the seed? So can the wallet files be deleted and later the wallet recovered with the original seed with the exchance and rest of the xmr inside?

Yes, you need only seed (25 words) to restore your wallet.
To be sure just do it yourself in gui or cli wallet and check that generated monero address exactly the same everytime.

But I gues the Monero works different way? The way that an ordinary human is expects the wallet to behave. When a send transaction is made, the Monero wallet, CLI and GUI send the remaining XMR, the exchange back to the original address which has been created from a 25 word seed?

So when the user just stores the 25 word seed, he has access to all the XMR and the exchange of the transactiosn in spite of how many send transactions and received transactions has been made from the address that has been generated from that seed?

Correct. The change is sent back to the same public address as the transaction originated from. This is different from Bitcoin, where usually change is sent back to a different public address.

[dEBRUYNE]

Is there a solid dice site for Moreno? 

MoneroDice is run by Fluffypony, who is a Monero core-team member.

https://MoneroDice.net

[CryptoRambler]

Call me crazy but I believe this is an optimal time to go short on XMR...  fall back to roughly $4-$5 USD.  I don't think it will fall as much this time but it will consolidate.

I think you have a good point. What bothers me is the speculation and the whales.

If you look you will see that most of Monero's trade is from on particular exchange. One good leg to stand on. Maybe another half-leg. Then some toes.

Whereas Bitcoin has many legs, besides the many exchanges. And I realize that Bitcoin is not private.

If Monero is adopted by more exchanges then I think we could see a serious and stable upswing.

Certainly this exposure is getting Monero noticed, however.

As for Zcash (mentioned as a competitor to Monero) I don't think, based upon it's premine and even if all of the gurus of cryptocurrency pay homage, that it will take off. It can be traced if certain parties allow it during transactions, as I understand it. If that is so, it's a half-measure, attempting to play the middle. Between allowing regulation and providing privatization. There is no such place. It's a simple Bitcoin knock-off with a few new bells and whistles, not to mention the premine -- again.  

What is the problem with the premine?

You are simply misinformed. XMR represents real tech. Go short, best you get is $10. Keep holding though. Please let us know when you take a short position, and at what price. Otherwise, you are simply a troll.

[rickgejr]

@CryptoRambler:

You spoke about a premine. I'm not misinformed. I was speaking about Zcash, not Monero.

Are you "English" speaking?

I'm bad-mouthing Zcash, not Monero.

[Longsnowsm]

What is the recommended miner software for Monero?  I have been using Claymore, but it seems pretty buggy so I am trying to find out if there are other options. 

[CryptoRambler]

@CryptoRambler:

You spoke about a premine. I'm not misinformed. I was speaking about Zcash, not Monero.

Are you "English" speaking?

I'm bad-mouthing Zcash, not Monero.

I am speaking of ZEC too. They had a trusted setup. No one knows what that means though - whether it can be trusted that is. Do you know if it can be trusted?

What is the premine problem with ZEC? What ℅ was premine and what is the coin distribution problem? Please share

I don't care if you bad mouth any cryptos lol

[Hueristic]

Call me crazy but I believe this is an optimal time to go short on XMR...  fall back to roughly $4-$5 USD.  I don't think it will fall as much this time but it will consolidate.

I think you have a good point. What bothers me is the speculation and the whales.

If you look you will see that most of Monero's trade is from on particular exchange. One good leg to stand on. Maybe another half-leg. Then some toes.

Whereas Bitcoin has many legs, besides the many exchanges. And I realize that Bitcoin is not private.

If Monero is adopted by more exchanges then I think we could see a serious and stable upswing.

Certainly this exposure is getting Monero noticed, however.

As for Zcash (mentioned as a competitor to Monero) I don't think, based upon it's premine and even if all of the gurus of cryptocurrency pay homage, that it will take off. It can be traced if certain parties allow it during transactions, as I understand it. If that is so, it's a half-measure, attempting to play the middle. Between allowing regulation and providing privatization. There is no such place. It's a simple Bitcoin knock-off with a few new bells and whistles, not to mention the premine -- again.  

What is the problem with the premine?

You are simply misinformed. XMR represents real tech. Go short, best you get is $10. Keep holding though. Please let us know when you take a short position, and at what price. Otherwise, you are simply a troll.

XMR has NO pre-mine. Making this clear for anyone that didn't understand your post. And there are many threads on what wrong with ZEC.

[rickgejr]

@CryptoRambler:

I've noticed plenty of folks here from other countries.

If you really understood me, then you should already know the basics of premining.

Zcash is not about the trust, it's about the premine -- to me. And the lack of assured privacy.

Premining is akin to centralization at that equals risk. Dump risk. Bye-Bye Risk. Diluted Zcash with good intentions, risk.

Invest away and good luck.

As I understand it, even if you mask your Zcash sends, the receiver can unmask you, if say, Uncle Sammy wants to know if you are a terrorist.

And in the U.S. every Granny is a potential terrorist these days.