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

[visdude]

1. I really haven't gotten the chance to explore yet but are the devs of popular mining software getting a head start on the new algo and have already released or are in the process of releasing appropriate versions in time for the HF?

2. Also, wouldn't the network be in a vulnerable state since there will be a "theoretical" (though not actual) zero network hash rate at some instance during the transition since not every miner will be switching to the new PoW at the same time; more like gradually ramping up towards whatever the highest network hash rate will be?

[1] The PoW tweak is already finalized (and merged). As a result, the mining software devs were able to start working on the new version of their miners.

[2] See: https://www.reddit.com/r/Monero/comments/86iux3/question_regarding_the_network_strength_on_the/

#2 The new software is backwards compatible, so you can run it as soon as its released, it may/will/probably take longer than 2 minutes to find a block after the switch due to a lower hashrate but the network will adjust itself after a certain amount of time
 (my 2 cents) 

Thanks!

[LoveKamil]

Hello everyone! many say that Monero is Considered the top 1 in terms of anonymity, if you do not dive into the subtleties of what kind of Princip it works in terms of anonymity?

[TheFuzzStone]

Hello everyone! many say that Monero is Considered the top 1 in terms of anonymity, if you do not dive into the subtleties of what kind of Princip it works in terms of anonymity?

https://www.youtube.com/channel/UCnjUpT9gGxyQ_lud7uKoTCg

[masstahcoiner]

What is difficulty now?


Specifications

PoW algorithm: CryptoNight [1]
Max supply: Infinite (see note below) [2]
Block reward: Smoothly varying [3]
Block time: 120 seconds
Difficulty: Retargets at every block

[misterbigg]

Monero forks every 6 month, this fork will kill asci miners, Next fork is on 5 or 6th April

[tuanytcc]

What is difficulty now?


Specifications

PoW algorithm: CryptoNight [1]
Max supply: Infinite (see note below) [2]
Block reward: Smoothly varying [3]
Block time: 120 seconds
Difficulty: Retargets at every block

Yeah, thanks for the information, but I don't think that you should post such a boring thread. Everyone who join the crypto-ecosystem know how to get that sort of very basic information. So you don't have to do this.
This kind of post only shows your face off. What a shitty Senior member! That's also why Theymos launch merit system to prevent spamming users to rank up to Hero / Ledgendary.
Your history also shows more interesting things but I don't want to present it here. I checked it simply because I am a little bit curious after reading your thread. Someone will do something, not me, so you don't have to worry about me.
Good luck, my man.

[elrippos friend]

Monero forks every 6 month, this fork will kill asci miners, Next fork is on 5 or 6th April

Do you mean asci or asic miners? I personally just am aware of asic miners 

[Hueristic]

Monero forks every 6 month, this fork will kill asci miners, Next fork is on 5 or 6th April

Do you mean asci or asic miners? I personally just am aware of asic miners  

ASCII Miner




https://en.wikipedia.org/wiki/ASCII_art

Edit, Found a better one.

[Globb0]

[dEBRUYNE]

"XMR-Stak 2.3.0 - The PoWs They Are a-Changin' - released!"

https://www.reddit.com/r/Monero/comments/874ovk/xmrstak_230_the_pows_they_are_achangin_released/

[grendel25]

It is fascinating that this thread is to nearly 2000 pages and yet is not considered the go-to place for monero news/updates.  So, I guess this is all grain-of-salt territory.  But I digress...

The point of this post isn't for FUD although it may seem as such.  I've been into XMR since 2014 but don't currently HODL any real position.  I would but am more of a new coin enthusiast and just fascinated with all the opportunity exploding in the cryptocurrency world. 

I think it is important to acknowledge the good work of Monero devs to continue ASIC resistance.  This is really a good thing.  However... yes, here it comes... I can't help but also acknowledge the ongoing risks with such a reality.  This new frontier of ever-changing algorithms will be interesting.  Very interesting to say the very least.  Let's consider:

1.  The algo change has been pushed back to June.  Meanwhile, ASIC miners equating to 200 conventional miners have hit the streets costing 1/200 the cost of a conventional miner and consuming even less energy. 

2.  It will be interesting to watch the price movement in the next few months as we await the algo change.  Will people wisely HODL their ASIC mined Monero or will they dump to ROI?  Maybe both.

3.  And this is where I'll stop my brainstorm... Security.  We are already pushed back several months for development concerns of changing the XMR algorithm.  Now, will this happen again in the future?  Will we have to endure further security risks inherent with more algorithm changes?  Will the new algorithm be better?  Will it be worse?  Why?

Hmmm... that last piece is the one that really has me concerned.  And to assign blame, yes... I would look at ASIC producers.  However, it developers also have to be prepared for this reality.

[jackmuu]

Monero is going to war against big miners:

https://bestcrypto.tv/216/top-10-altcoins-for-2018/

[iSkyCastle]

How would you compare Monero to Prix?

[cbcbct]

"XMR-Stak 2.3.0 - The PoWs They Are a-Changin' - released!"

https://www.reddit.com/r/Monero/comments/874ovk/xmrstak_230_the_pows_they_are_achangin_released/

Thank you for the news. Changes in PoW. It will be nice to have breaking changes for Monero. We will soon beat Ethereum to stay above them in crypto ranking system.

[visdude]

It is fascinating that this thread is to nearly 2000 pages and yet is not considered the go-to place for monero news/updates.  So, I guess this is all grain-of-salt territory.  But I digress...

The point of this post isn't for FUD although it may seem as such.  I've been into XMR since 2014 but don't currently HODL any real position.  I would but am more of a new coin enthusiast and just fascinated with all the opportunity exploding in the cryptocurrency world.  

I think it is important to acknowledge the good work of Monero devs to continue ASIC resistance.  This is really a good thing.  However... yes, here it comes... I can't help but also acknowledge the ongoing risks with such a reality.  This new frontier of ever-changing algorithms will be interesting.  Very interesting to say the very least.  Let's consider:

1.  The algo change has been pushed back to June.  Meanwhile, ASIC miners equating to 200 conventional miners have hit the streets costing 1/200 the cost of a conventional miner and consuming even less energy.  

2.  It will be interesting to watch the price movement in the next few months as we await the algo change.  Will people wisely HODL their ASIC mined Monero or will they dump to ROI?  Maybe both.

3.  And this is where I'll stop my brainstorm... Security.  We are already pushed back several months for development concerns of changing the XMR algorithm.  Now, will this happen again in the future?  Will we have to endure further security risks inherent with more algorithm changes?  Will the new algorithm be better?  Will it be worse?  Why?

Hmmm... that last piece is the one that really has me concerned.  And to assign blame, yes... I would look at ASIC producers.  However, it developers also have to be prepared for this reality.

If the PoW change will be successful without a hitch (and I have confidence in the devs to make it so), it will then become a deterrence (more than anything else) as such implementation could then be repeated as necessary or established as a routine. In fact, I personally think that subsequent/further PoW changes will not be necessary as far as future ASIC threat is concerned. I don't think the usual suspects would gamble when the genie will have been out of the bottle.

Edit: I think PoW change will become a paradigm in the crypto space after Monero's (successful) fork.

[Whtwabbit]

"1.  The algo change has been pushed back to June."

What is this algo change in June you speak of?

[grendel25]

It is fascinating that this thread is to nearly 2000 pages and yet is not considered the go-to place for monero news/updates.  So, I guess this is all grain-of-salt territory.  But I digress...

The point of this post isn't for FUD although it may seem as such.  I've been into XMR since 2014 but don't currently HODL any real position.  I would but am more of a new coin enthusiast and just fascinated with all the opportunity exploding in the cryptocurrency world.  

I think it is important to acknowledge the good work of Monero devs to continue ASIC resistance.  This is really a good thing.  However... yes, here it comes... I can't help but also acknowledge the ongoing risks with such a reality.  This new frontier of ever-changing algorithms will be interesting.  Very interesting to say the very least.  Let's consider:

1.  The algo change has been pushed back to June.  Meanwhile, ASIC miners equating to 200 conventional miners have hit the streets costing 1/200 the cost of a conventional miner and consuming even less energy.  

2.  It will be interesting to watch the price movement in the next few months as we await the algo change.  Will people wisely HODL their ASIC mined Monero or will they dump to ROI?  Maybe both.

3.  And this is where I'll stop my brainstorm... Security.  We are already pushed back several months for development concerns of changing the XMR algorithm.  Now, will this happen again in the future?  Will we have to endure further security risks inherent with more algorithm changes?  Will the new algorithm be better?  Will it be worse?  Why?

Hmmm... that last piece is the one that really has me concerned.  And to assign blame, yes... I would look at ASIC producers.  However, it developers also have to be prepared for this reality.

If the PoW change will be successful without a hitch (and I have confidence in the devs to make it so), it will then become a deterrence (more than anything else) as such implementation could then be repeated as necessary or established as a routine. In fact, I personally think that subsequent/further PoW changes will not be necessary as far as future ASIC threat is concerned. I don't think the usual suspects would gamble when the genie will have been out of the bottle.

Edit: I think PoW change will become a paradigm in the crypto space after Monero's (successful) fork.

I think you're right about this part of the scenario.  I highly doubt ASIC producers would further risk production costs for one-off algo changes. 

This is an interesting turn of events.  In a way, it is good that the ASIC producers have done this because it forces originality in the coin algorithm.  But I'm sure downsides such as development risks come along with that.  But as far as price action goes... It may just be the next few months that really suck for XMR HODL'ers... of course true HODL'ers don't care about such things lol. 

It's really an interesting situation.  I mean, a lot can still happen.  But, I'm in the camp that sees this as a temporary setback for XMR.  But a lot can happen in 30-60 days.

[visdude]

It is fascinating that this thread is to nearly 2000 pages and yet is not considered the go-to place for monero news/updates.  So, I guess this is all grain-of-salt territory.  But I digress...

The point of this post isn't for FUD although it may seem as such.  I've been into XMR since 2014 but don't currently HODL any real position.  I would but am more of a new coin enthusiast and just fascinated with all the opportunity exploding in the cryptocurrency world.  

I think it is important to acknowledge the good work of Monero devs to continue ASIC resistance.  This is really a good thing.  However... yes, here it comes... I can't help but also acknowledge the ongoing risks with such a reality.  This new frontier of ever-changing algorithms will be interesting.  Very interesting to say the very least.  Let's consider:

1.  The algo change has been pushed back to June.  Meanwhile, ASIC miners equating to 200 conventional miners have hit the streets costing 1/200 the cost of a conventional miner and consuming even less energy.  

2.  It will be interesting to watch the price movement in the next few months as we await the algo change.  Will people wisely HODL their ASIC mined Monero or will they dump to ROI?  Maybe both.

3.  And this is where I'll stop my brainstorm... Security.  We are already pushed back several months for development concerns of changing the XMR algorithm.  Now, will this happen again in the future?  Will we have to endure further security risks inherent with more algorithm changes?  Will the new algorithm be better?  Will it be worse?  Why?

Hmmm... that last piece is the one that really has me concerned.  And to assign blame, yes... I would look at ASIC producers.  However, it developers also have to be prepared for this reality.

If the PoW change will be successful without a hitch (and I have confidence in the devs to make it so), it will then become a deterrence (more than anything else) as such implementation could then be repeated as necessary or established as a routine. In fact, I personally think that subsequent/further PoW changes will not be necessary as far as future ASIC threat is concerned. I don't think the usual suspects would gamble when the genie will have been out of the bottle.

Edit: I think PoW change will become a paradigm in the crypto space after Monero's (successful) fork.

I think you're right about this part of the scenario.  I highly doubt ASIC producers would further risk production costs for one-off algo changes.  

This is an interesting turn of events.  In a way, it is good that the ASIC producers have done this because it forces originality in the coin algorithm.  But I'm sure downsides such as development risks come along with that.  But as far as price action goes... It may just be the next few months that really suck for XMR HODL'ers... of course true HODL'ers don't care about such things lol.  

It's really an interesting situation.  I mean, a lot can still happen.  But, I'm in the camp that sees this as a temporary setback for XMR.  But a lot can happen in 30-60 days.

I wonder how significant is the threat of FPGAs though since they are programmable.

There are always risks involved in any endeavor, most especially in the realm as complex as cryptocurrency development. But no risk, no reward/innovation.

Prices come and go. It's market-driven and still very speculative at this point in time. If the HF affects it at all, it'll be temporary as always. In fact, if the HF will be successful, it'll only excite the speculators. But such is for another thread.

[ctya]

"XMR-Stak 2.3.0 - The PoWs They Are a-Changin' - released!"

https://www.reddit.com/r/Monero/comments/874ovk/xmrstak_230_the_pows_they_are_achangin_released/

Just dropping by to say this update to xmrstak supports the upcoming fork automatically, and it works well!

[Vikhy]

When is the asic resistance fork update expected?