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

[jackmuu]

Monero (XMR) is now more profitable to mine than Ethereum due to the latest hard-fork!

https://bestcrypto.tv/506/monero-hard-fork-monero-classic-original-and-more-free-coins/

[stna1981]

After the hard fork, ASICS should be out of the race. But fighting centralisation would also mean kicking botnets out. Do you have any plans for changing the algorithm in a way that botnet mining will become obsolete?

[taltpeltifos]

Hello,can anybody drop to me info about Bitcore?

[Whtwabbit]

Hello,can anybody drop to me info about Bitcore?

No

[denetci]

If the plan for at least the short term is to fork every 6 months to change mining algorithms. Couldnt a group of colluding developers pick the new algo months in advance and create their own asics or leak the algo to bitmain in advance in exchange for money?

Then when the new algo goes live they can fire up their new pre built asics and attack the network and/or just mine away and take all the profit from new blocks?

[Anon136]

After the hard fork, ASICS should be out of the race. But fighting centralisation would also mean kicking botnets out. Do you have any plans for changing the algorithm in a way that botnet mining will become obsolete?

CPU's aren't that efficient. Unless it's an absolutely massive botnet I think we can just think of the operator as another miner. Further he is a miner who is bringing hashing power online that almost certainly wouldn't have been used to secure the network otherwise like your grandmas pentium and your uncles toaster. Asics make real decentralized miners unable to compete in a way that I don't think botnets do. Point is, I don't mind botnet miners. They are going to go somewhere. They are going to point their hashing power at something. I would rather it be us.

Also it isn't clear that there is anything that could be done about that. It would be a very taxing never ending arms race at best. Tweaking the hashing algo every 6 months is something of a never ending arms race, but it's not taxing in that way, it's pretty simple really.

[johndenveriam]

I have been taking a shot at one as an afterthought.. be that as it may, not done.. still parcels to do..
i'm certain somebody will open a pool soon enough.

[Hueristic]

Hi guys,
Please recommend a XMC pool, THX!

This is the Monero thread, not the XMC thread

So far Monero, Sumokoin and Stellite have changed Algo. IPBC is doing it in less then a week. They opted for a heavily changed algo which should be even harder to crack that Sumokoin one.

Is IPBC just increasing the scratchpad size? I don't think that'd help things, we saw with the Balkai ASIC that it didn't seem to change much (the Balkai could do CryptoNight and CryptoNight-Lite)

They will increase the size yes. But I think they are also changing some others things. That is why its taking them long. They wan't to do the best algo change out of all Cryponight coins. I think that is very good, but we will see. I really like the IPBC project.

Otherwise I bow down to Monero devs and community for sticking it up the ass for ASICs. Monero gained a lot of reputation in my eyes.

I second demotion i will support any coin that fights asic unless they are from scrypt or sha256. I think asic should stick to those algo. Kudos to monero team and monero community for choosing to stay as decentralized as possible.

Scypt was the first to thwart ASIC's.


Here's some Shots of Bitmains compound. The sheer scale is sick.

https://qz.com/1055126/photos-china-has-one-of-worlds-largest-bitcoin-mines/






BTW their electric is all generated by coal.

https://monerohash.com/nodes-distribution.html  stilll indicating ~2700 nodes.  Their hash rate indication has been out of whack for many months, but now appears to be on target at ~400MH/s?  Bye bye ASICs   

I haven't been able to keep tabs well while traveling, but I did manage to contribute my meager laptop to the hash rate for the first 12 hours after the fork.  Good to see the stabilization since that (last contact) point.  Overall, it looks like less drama than I anticipated after those first hours.  Good stuff.

I'm looking forward to a comprehensive analysis of the pool dynamics after the dust settles, I hope the pool operators will give up some raw numbers for this. I also threw some machines on it for the fork but my old hardware isn't what it used to be and my meter spun like a top (I think it's .18 a watt here). I stopped last night when the pool just started rejecting all my shares, I think I was almost up to a Dollar!

Can someone please explain this article to me? It says there are 4 different Moneros now. Which one does the original dev team support?

https://news.bitcoin.com/privacy-coin-xmr-splits-into-four-different-monero-protocols/

The new v12 wallet release and that is the ones on all the exchanges. Get it from Git or Getmonero.org

So far Monero, Sumokoin and Stellite have changed Algo. IPBC is doing it in less then a week. They opted for a heavily changed algo which should be even harder to crack that Sumokoin one.

What is IPBC? Link? BTW, not looking for a sales pitch just the link.

[Hueristic]

https://monerohash.com/nodes-distribution.html  stilll indicating ~2700 nodes.  Their hash rate indication has been out of whack for many months, but now appears to be on target at ~400MH/s?  Bye bye ASICs   

I haven't been able to keep tabs well while traveling, but I did manage to contribute my meager laptop to the hash rate for the first 12 hours after the fork.  Good to see the stabilization since that (last contact) point.  Overall, it looks like less drama than I anticipated after those first hours.  Good stuff.

I'm looking forward to a comprehensive analysis of the pool dynamics after the dust settles, I hope the pool operators will give up some raw numbers for this. I also threw some machines on it for the fork but my old hardware isn't what it used to be and my meter spun like a top (I think it's .18 a watt here). I stopped last night when the pool just started rejecting all my shares, I think I was almost up to a Dollar!

Can someone please explain this article to me? It says there are 4 different Moneros now. Which one does the original dev team support?

https://news.bitcoin.com/privacy-coin-xmr-splits-into-four-different-monero-protocols/

The new v12 wallet release and that is the ones on all the exchanges. Get it from Git or Getmonero.org

So far Monero, Sumokoin and Stellite have changed Algo. IPBC is doing it in less then a week. They opted for a heavily changed algo which should be even harder to crack that Sumokoin one.

What is IPBC? Link? BTW, not looking for a sales pitch just the link.

[e-coinomist]

Scypt was the first to thwart ASIC's.

Which did not lasted all to long. It seems each and every algo is ASICifyable, a company in possession of these capabilities will for sure dominate the whole crypto bussiness until PoS replaces POW.

A PoS fork of monero would be interesting, especially for botnet operators?

Here's some Shots of Bitmains compound. The sheer scale is sick.

According to my memory, watched some interview on youtube long ago, one of these was dedicated Scrypt which made me wonder if scrypt-ASICs only, since at that point in time these didn't dominated the reseller market, has all been GPUs.
Probably 1/8 of these buildings only GPU, 7/8 only Bitcoin, on that picture.
To my knowledge they mined BTC and LTC as a sort of hedge. Influenced my investment strategy, horted 1 LTC along each BTC, too.


Now digging out Ethereum "Classic" how well they did overall, there has been classic conferences and stuff, it's even been mentioned inside Vitalik's last twitter live stream https://twitter.com/VitalikButerin/status/981099888044777472
Hedging each classic variant along with the work-in-progress "original" ? Seems sane to do so.

[e-coinomist]

What is keeping the ASIC price/distribution so prohibitive? I would think the necessity of cheaper versions of these machines in the long-run for PoW survival would’ve incentivized more competition by now. If someone doesn’t come up with a way to break Bitmain’s monopoly soon, PoS is going to exploit this situation and become dominant. I agree the slash-and-burn strategy is the most effective method for now, but eventually you have to open up a supply line and go on offense.

PoS dominancy could originate from ETH miners switching over to XMR one day. As a niche segment the last die hard POW coin project could have a significant lifetime left, still.
On a long enough timeline ... but who can do forecasts lasting 2 monthes in crypto, right?

[Hueristic]

Scypt was the first to thwart ASIC's.

Which did not lasted all to long. It seems each and every algo is ASICifyable, a company in possession of these capabilities will for sure dominate the whole crypto bussiness until PoS replaces POW.

YEAH, Only about 3 years when the scams started showing that ripped everyone off and then the real ones hit the market. that is a eternity in this game. LTC started in 2011.

A PoS fork of monero would be interesting, especially for botnet operators?

What kind of drugs are you doing and can I have some? On second thought mine are pretty heavy and probably work better.

According to my memory, watched some interview on youtube long ago, one of these was dedicated Scrypt which made me wonder if scrypt-ASICs only, since at that point in time these didn't dominated the reseller market, has all been GPUs.
Probably 1/8 of these buildings only GPU, 7/8 only Bitcoin, on that picture.
To my knowledge they mined BTC and LTC as a sort of hedge. Influenced my investment strategy, horted 1 LTC along each BTC, too.

I doubt they are running ANY GPU's now. they have ASICS for everything profitable. They are more than likely powerbound there.

Now digging out Ethereum "Classic" how well they did overall, there has been classic conferences and stuff, it's even been mentioned inside Vitalik's last twitter live stream
Hedging each classic variant along with the work-in-progress "original" ? Seems sane to do so.

THERE can be no comparison between the 2 and anyone doing so is ill informed at best. THEY made their chain MUTABLE, do you understand what that means?

What is keeping the ASIC price/distribution so prohibitive? I would think the necessity of cheaper versions of these machines in the long-run for PoW survival would’ve incentivized more competition by now. If someone doesn’t come up with a way to break Bitmain’s monopoly soon, PoS is going to exploit this situation and become dominant. I agree the slash-and-burn strategy is the most effective method for now, but eventually you have to open up a supply line and go on offense.

PoS dominancy could originate from ETH miners switching over to XMR one day. As a niche segment the last die hard POW coin project could have a significant lifetime left, still.
On a long enough timeline ... but who can do forecasts lasting 2 monthes in crypto, right?

And this directly conflicts with your first statement, you can't have 2 diametrically opposed views in consecutive posts and expect to be taken seriousley. 2 months is a long time yet 3 to 4 years is not?? WTF are you talking about. You sound like a person with an Agenda and thats gonna get called out real fast here.

[graysoon]

what guys I have just seen the global hash rate start to go down again, i think we have hit the new threshold

[FloppyPurpleGherkin]

I wonder where that unknown 16% (80 MH) is coming from? oO

[jwinterm]

I wonder where that unknown 16% (80 MH) is coming from? oO

Some big eth miner jumping ship.

[genitbd13]

Monero is a bright future coin

 Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses
 
 A user needs client software, a so-called wallet, to interact with the Monero network. The Monero Project produces the reference implementation of a Monero wallet and there are also third party implementations of Monero clients exist such as Monerujo which also make it possible to use Monero on Android.

[Anon136]

Which did not lasted all to long. It seems each and every algo is ASICifyable, a company in possession of these capabilities will for sure dominate the whole crypto bussiness until PoS replaces POW.

A PoS fork of monero would be interesting, especially for botnet operators?

Shouldn't it be, at least theoretically, possible to make a hashing algorithm for which a standard PC is its ASIC? Maybe we will get there one day. Or maybe new algorithms will be developed that get closer and closer every year.

[0xcosmos]

what guys I have just seen the global hash rate start to go down again, i think we have hit the new threshold

wont last much long
when miners mining other coins will see more profitability
they will jump to monero

[cokroalif]

Monero is a bright future coin

 Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses
 
 A user needs client software, a so-called wallet, to interact with the Monero network. The Monero Project produces the reference implementation of a Monero wallet and there are also third party implementations of Monero clients exist such as Monerujo which also make it possible to use Monero on Android.

when sliding first they must have more network that qualified, therefore monero very easy when do project continuously in this time

[Hueristic]

Which did not lasted all to long. It seems each and every algo is ASICifyable, a company in possession of these capabilities will for sure dominate the whole crypto bussiness until PoS replaces POW.

A PoS fork of monero would be interesting, especially for botnet operators?

Shouldn't it be, at least theoretically, possible to make a hashing algorithm for which a standard PC is its ASIC? Maybe we will get there one day. Or maybe new algorithms will be developed that get closer and closer every year.

Yes and was about to post how until I realized I am keeping that info to myself. Lol

Basically an asic is just what it says Application Specific, so in other words it is a stripped down cpu that just has the bear bare (freudian slip?) metal to do the Specific operation that is needed. Therefor nothing that is designed to do more than that specific operation can compete with it as it adds realestate as well as pathways thermal overhead and a host of other roadblocks that are insurmountable unless you can break the laws of physics.