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

[SparkIt]

Explain please, what Charlie Lee did to LTC? I see how highly he is committed to the idea of developing blockchain technology. I think, any cooperation will benefit these coins. This is a natural process of evolution of cryptocurrencies and it doesn't depend on our will in here.

https://medium.com/@bitfinexed/coinbase-insider-trading-litecoin-edition-be64ead3facc

It's a sad thing to read. But apparently the market forgives everything.

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[Globb0]

Explain please, what Charlie Lee did to LTC? I see how highly he is committed to the idea of developing blockchain technology. I think, any cooperation will benefit these coins. This is a natural process of evolution of cryptocurrencies and it doesn't depend on our will in here.

https://medium.com/@bitfinexed/coinbase-insider-trading-litecoin-edition-be64ead3facc

It's a sad thing to read. But apparently the market forgives everything.

eg dark coin etc.

[Anon136]

This was one of the most exciting projects in the bitcoin space a couple of years ago then it just died. http://www.othercoin.com/OtherCoin.pdf

OtherCoin is an off-chain Bitcoin payment system based on a tamper-resistant smartcard in microSD form factor. OtherCoin works by securely generating, storing and transmitting Bitcoin private keys between parties. Private keys are never revealed to either the sender or the receiver, they can either be used directly in the Bitcoin protocol to sign transactions or securely transmitted to another OtherCoin user. Each OtherCoin smartcard guarantees that the key has either been securely generated by itself or has been received over a secure channel from a similar OtherCoin, with the same restrictions.

I haven't heard anyone talk about it in ages. I think it was a little before it's time. Bitcoin hadn't run into its scaling issues yet and hadn't become generally well known yet either. But maybe it's time has come?

FP specifically has put forward the idea of attacking scaling at all levels and it seems to me that this is a potentially very practical and powerful scaling vector. Additionally it would make many of moneros transactions entirely off chain. This has great implications for privacy. With our funding model we could probably raise the funds necessary to fund the development of some sort of open source application specific hardware device for this sort of thing if a knowledgeable hardware guy were to avail himself.

Mostly I just thought it would be cool if I could kick off a discussion about this proposal. Get it back in the public consciousness. More specifically into the Monero community consciousness. What are your thoughts dear reader?

Bump I guess since no one seemed to have noticed it last time. This particular way of scaling at the low end could be a HUGE part of the solution to scaling.

[explorer]

This was one of the most exciting projects in the bitcoin space a couple of years ago then it just died. http://www.othercoin.com/OtherCoin.pdf

OtherCoin is an off-chain Bitcoin payment system based on a tamper-resistant smartcard in microSD form factor. OtherCoin works by securely generating, storing and transmitting Bitcoin private keys between parties. Private keys are never revealed to either the sender or the receiver, they can either be used directly in the Bitcoin protocol to sign transactions or securely transmitted to another OtherCoin user. Each OtherCoin smartcard guarantees that the key has either been securely generated by itself or has been received over a secure channel from a similar OtherCoin, with the same restrictions.

I haven't heard anyone talk about it in ages. I think it was a little before it's time. Bitcoin hadn't run into its scaling issues yet and hadn't become generally well known yet either. But maybe it's time has come?

FP specifically has put forward the idea of attacking scaling at all levels and it seems to me that this is a potentially very practical and powerful scaling vector. Additionally it would make many of moneros transactions entirely off chain. This has great implications for privacy. With our funding model we could probably raise the funds necessary to fund the development of some sort of open source application specific hardware device for this sort of thing if a knowledgeable hardware guy were to avail himself.

Mostly I just thought it would be cool if I could kick off a discussion about this proposal. Get it back in the public consciousness. More specifically into the Monero community consciousness. What are your thoughts dear reader?

Bump I guess since no one seemed to have noticed it last time. This particular way of scaling at the low end could be a HUGE part of the solution to scaling.

Something that could be integrated into the inexpensive open source Monero hardware wallet?

[Anon136]

Something that could be integrated into the inexpensive open source Monero hardware wallet?

I'm not sure. I think it somewhat relies on a trustworthy central service provider. Basically they need to be making the chips in a physically secure way then providing an interface on the hardware for third parties to verify that the device was manufactured by them. If I'm understanding it all correctly.

[dEBRUYNE]

Does anyone know anything about the upcomming Bulletproof release? It hasn't been validated just yet, but I heard from a friend that there may be a fee reduction of 84%? Would be great!

Bulletproofs are under development but there is no specific release scheduled yet. The technology is very new and the math/cryptography team is still coming up with improvements, scrutinizing it for weaknesses, etc. There is a plan for a full formal review before it goes live. It does indeed reduce transaction size (and therefore fees) by about 80%.

To add, for anyone interested in Bulletproofs & fees, see:

https://getmonero.org/2017/12/11/A-note-on-fees.html

[crypt0baws]

Does anyone know anything about the upcomming Bulletproof release? It hasn't been validated just yet, but I heard from a friend that there may be a fee reduction of 84%? Would be great!

Bulletproofs are under development but there is no specific release scheduled yet. The technology is very new and the math/cryptography team is still coming up with improvements, scrutinizing it for weaknesses, etc. There is a plan for a full formal review before it goes live. It does indeed reduce transaction size (and therefore fees) by about 80%.

To add, for anyone interested in Bulletproofs & fees, see:

https://getmonero.org/2017/12/11/A-note-on-fees.html

Thank you dEBRUYNE, this was well worth the read. Do you know if the testnet with Bulletproofs is far off as mentioned here?

[dEBRUYNE]

Does anyone know anything about the upcomming Bulletproof release? It hasn't been validated just yet, but I heard from a friend that there may be a fee reduction of 84%? Would be great!

Bulletproofs are under development but there is no specific release scheduled yet. The technology is very new and the math/cryptography team is still coming up with improvements, scrutinizing it for weaknesses, etc. There is a plan for a full formal review before it goes live. It does indeed reduce transaction size (and therefore fees) by about 80%.

To add, for anyone interested in Bulletproofs & fees, see:

https://getmonero.org/2017/12/11/A-note-on-fees.html

Thank you dEBRUYNE, this was well worth the read. Do you know if the testnet with Bulletproofs is far off as mentioned here?

The single-output Bulletproofs are currently live on testnet. However, Bulletproofs in general will not be live on mainnet until, probably, September this year, as we want to have them properly audited, i.e., check whether the code matches the math in the paper, check whether there are no "coin-killer" bugs in there, and more generally extend the time how long it has been out there (the paper is only a few months old).

[barmaley99]

I downloaded wallet for windows intalled it but cannot synchronize it, monerod.exe is always fail to fully synchronize blockchain so i downloaded full blockchain from https://downloads.getmonero.org/blockchain.raw and tried to import it with monero-blockchain-export.exe but it always gives error - "chunk size exceeds buffer size"

So what to do with that?

C:\.........\monero-gui-0.11.0.0>monero-blockchain-import --verify 1 --input-file C:\downloads\blockchain.raw
2018-01-30 09:01:19.442 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:646 Starting...
2018-01-30 09:01:19.443 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:681 database: lmdb
2018-01-30 09:01:19.443 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:682 database flags: 0
2018-01-30 09:01:19.444 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:683 verify: true
2018-01-30 09:01:19.444 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:687 batch: true batch size: 5000
2018-01-30 09:01:19.444 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:693 resume: true
2018-01-30 09:01:19.445 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:694 testnet: false
2018-01-30 09:01:19.449 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:696 bootstrap file path: C:\downloads\blockchain.raw
2018-01-30 09:01:19.450 1584 INFO bcutil src/blockchain_utilities/blockchain_import.cpp:697 database path: C:\ProgramData\bitmonero
2018-01-30 09:01:19.467 1584 INFO global src/cryptonote_core/cryptonote_core.cpp:323 Loading blockchain from folder C:\ProgramData\bitmonero\lmdb ...
2018-01-30 09:01:19.831 1584 INFO global src/cryptonote_core/cryptonote_core.cpp:421 Loading checkpoints
2018-01-30 09:01:19.831 1584 WARN blockchain.db.lmdb src/blockchain_db/lmdb/db_lmdb.cpp:2674 WARNING: batch transaction mode already enabled, but asked to enable batch mode
2018-01-30 09:01:20.045 1584 INFO bcutil src/blockchain_utilities/bootstrap_file.cpp:347 bootstrap file recognized
2018-01-30 09:01:20.046 1584 INFO bcutil src/blockchain_utilities/bootstrap_file.cpp:357 bootstrap::file_info size: 4
2018-01-30 09:01:20.048 1584 INFO bcutil src/blockchain_utilities/bootstrap_file.cpp:368 bootstrap file v0.1
2018-01-30 09:01:20.052 1584 INFO bcutil src/blockchain_utilities/bootstrap_file.cpp:369 bootstrap magic size: 4
2018-01-30 09:01:20.054 1584 INFO bcutil src/blockchain_utilities/bootstrap_file.cpp:370 bootstrap header size: 1024
2018-01-30 09:01:20.062 1584 INFO bcutil src/blockchain_utilities/bootstrap_file.cpp:400 Scanning blockchain from bootstrap file...
2018-01-30 09:02:19.966 1584 WARN bcutil src/blockchain_utilities/bootstrap_file.cpp:436 WARNING: chunk_size 2724661602 > BUFFER_SIZE 1000000 height: 628497
2018-01-30 09:02:20.025 1584 ERROR bcutil src/blockchain_utilities/blockchain_import.cpp:747 Exception at [Import error], what=Aborting: chunk size exceeds buffer size

[Vladdirescu87]

Kazakhstan to Accept Traffic Fines Payments in Monero

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/kazakhstan-to-accept-traffic-fines-payments-in-bitcoin-following-example-of-south-africa/

[Globb0]

*Holds finger to ear*

... We have a Live feed coming in now, direct from Kazakhstan

[Hueristic]

HEY, How the hell does a scam exchange like HitBTC have the second highest volume? Who is not warning these people? Are the reddit tards being led there?

Also does anyone have a list of exchanges that lag on price change that doesn't have massive spread? It's time I decided on an exchange and got ready to grab a few in a couple weeks.

[moli1]

Monero is currently priced at a little over $270, commanding a market cap of  $4,219,896,145 at that price. It’s down just shy of 15% over the last twenty-four hours according to Coinmarketcap.
Over the last few weeks, one of the Monero team’s biggest names, Riccardo Spagni, has been making the rounds on the crypto circuit, pushing for adoption and preaching as to why Monero can be the next big thing... He’s even got a bit of a bromance going with Litecoin creator Charlie Lee.
Monero can be huge and right now, at the above market cap and a ranking of number 13 against its peers, it looks undervalued.

[crypt0baws]

Does anyone know anything about the upcomming Bulletproof release? It hasn't been validated just yet, but I heard from a friend that there may be a fee reduction of 84%? Would be great!

Bulletproofs are under development but there is no specific release scheduled yet. The technology is very new and the math/cryptography team is still coming up with improvements, scrutinizing it for weaknesses, etc. There is a plan for a full formal review before it goes live. It does indeed reduce transaction size (and therefore fees) by about 80%.

To add, for anyone interested in Bulletproofs & fees, see:

https://getmonero.org/2017/12/11/A-note-on-fees.html

Thank you dEBRUYNE, this was well worth the read. Do you know if the testnet with Bulletproofs is far off as mentioned here?

The single-output Bulletproofs are currently live on testnet. However, Bulletproofs in general will not be live on mainnet until, probably, September this year, as we want to have them properly audited, i.e., check whether the code matches the math in the paper, check whether there are no "coin-killer" bugs in there, and more generally extend the time how long it has been out there (the paper is only a few months old).

Absolutely, I understand that these things can't be rushed and I'd much rather any future solution to be of sound quality than to rush it out for the sake of it. XMR is one of my favourite projects exactly for that reason. Thank you for the rough estimation on Bulletproof's being available on mainnet, I won't take it as gospel as I know there are never any certainties on deadlines when it comes to development.

One other thing; considering we're moving to the Monero forum (which I personally think is a fantastic idea as crypto is far greater in appeal than just BTC or any one single project now), but does that this mean this thread is now considered legacy? I agree with the sentiment behind the move but I do enjoy the ability to converse on different projects in the one place.

[crypt0baws]

Monero mooned https://www.cryptomoons.com/mooned

https://www.cryptomoons.com/coin/monero

Mooning indeed!

[explorer]

One other thing; considering we're moving to the Monero forum (which I personally think is a fantastic idea as crypto is far greater in appeal than just BTC or any one single project now), but does that this mean this thread is now considered legacy? I agree with the sentiment behind the move but I do enjoy the ability to converse on different projects in the one place.

The getmonero forum is used for official notices, and that's about it.  Most action seems to be on reddit these days, as BTCtalk has been mostly abandoned for a long time now.  A few of us legacy lurkers still around, for the reason you cite, but everything is at least second hand here.

[crypt0baws]

One other thing; considering we're moving to the Monero forum (which I personally think is a fantastic idea as crypto is far greater in appeal than just BTC or any one single project now), but does that this mean this thread is now considered legacy? I agree with the sentiment behind the move but I do enjoy the ability to converse on different projects in the one place.

The getmonero forum is used for official notices, and that's about it.  Most action seems to be on reddit these days, as BTCtalk has been mostly abandoned for a long time now.  A few of us legacy lurkers still around, for the reason you cite, but everything is at least second hand here.

Ah OK, thanks for the heads up then. I've posted a little in XMR subs but always saw BTCtalk as the de-facto place to talk crypto, even with the surge of crypto sub popularity... I'll keep that in mind -- thanks again!

[wargamez]

Explain please, what Charlie Lee did to LTC? I see how highly he is committed to the idea of developing blockchain technology. I think, any cooperation will benefit these coins. This is a natural process of evolution of cryptocurrencies and it doesn't depend on our will in here.

https://medium.com/@bitfinexed/coinbase-insider-trading-litecoin-edition-be64ead3facc

It's a sad thing to read. But apparently the market forgives everything.

Cryptocurrency trading is unregulated and actions that are considered illegal in the stock market are frequently committed in coin exchanges.  Pump and dump? Wash trades? Insider trading? and the list goes on.

[ANDREW 555]

Hard Fork (March 07)
https://coindar.org/en/event/monero-xmr-hard-fork-2780

[xda-developer]

Now I think that current price of Monero is very attracted to grab some coins. Number of coins is very limitated and I think that value of all untraceable coins will be increased in nearest future