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

[luckygenough56]

Why should I invest in this coin, what makes it better than other coins?

If you are a sociopathic greedy or selfish person, you should not invest in this coin.  If you are too wealthy to be a good steward of the earth's resources, you should not invest in this coin. Short-term speculators should look elsewhere, because a PoW/PoS coin like XC will offer better gains when PoW ends.  XMR isn't a good vehicle for pump and dump.  Moreover there are now several people who seek to build XMR by market-making, which means volatility is low, reducing short-term speculation gains.

If you are respectful of the freedom of others, careful to use wealth constructively, rather than in hedonistic consumption (except for a relatively small proportion appropriate to the enjoyment of prosperity) then I would encourage you to invest heavily, if you wish to transact privately and/or protect wealth and your life and family from extortion of any kind.  It is currently the best coin for that purpose:  The underlying protocol is the best extant (in my opinion the only one worth trusting today), and among the coins using that protocol it has the best chance of long-term success, due to responsible active development, and dispersion factors.

Regarding dispersion factors, I am convinced that the aggressive emission schedule will be beneficial to dispersion, and thus accelerate the development of a viable XMR economy, relative to the history of bitcoin.  Miners who want to flip would prefer early prices to be higher, but that's illusory:  Half the coins at twice the price means no benefit.  Only the competitiveness of mining and the efficiency of your hardware will impact mining profits.  

great speech!

I did cry

[Bitcoin++]

A few questions:

1. What technically separates Bytecoin and Monero? Aren't they both using CryptoNote?
2. Why did Bytecoin die out and what will prevent Monero from doing the same?
3. Monero offers anonymity, but so does DarkCoin. Why would anyone choose Monero when DK has a larger community?
4. When will Monero get a GUI wallet (which anyone can install...) ?

[c789]

A few questions:

1. What technically separates Bytecoin and Monero? Aren't they both using CryptoNote?
2. Why did Bytecoin die out and what will prevent Monero from doing the same?
3. Monero offers anonymity, but so does DarkCoin. Why would anyone choose Monero when DK has a larger community?
4. When will Monero get a GUI wallet (which anyone can install...) ?

Just a few quick comments:
2. Bytecoin was heavily pre-mined, and the other CN coins like Monero were not.
3. See #2, plus other reasons. DRK was heavily pre-mined. I'm short for time but I'm sure others will post.
4. There is a GUI wallet for Monero. As for ease of installation, I haven't tried.

[drawingthesun]

1. What technically separates Bytecoin and Monero? Aren't they both using CryptoNote?

Bytecoin was first, but it was mined two years in secret with the same machines (no underground massive discovery, difficulty from block 5,000 to 400,000 are about the same)

Monero is the first CryptoNote that had a fair launch.

2. Why did Bytecoin die out and what will prevent Monero from doing the same?

It hasn't died out.

The CryptoNote technology has a lot of potential and apart from the Bytecoin premine, Monero is first.

So Monero has the first mover advantage. If you're interested in CryptoNote technology it might be wise to invest in all the CryptoNote coins.

3. Monero offers anonymity, but so does DarkCoin. Why would anyone choose Monero when DK has a larger community?

Ring signatures technology inside CryptoNote (Monero) offers true decentralised anonymous transactions.

Please read the whitepaper here: https://cryptonote.org/whitepaper.pdf

Also the creator of CoinJoin that Darkcoin is based off of (gmaxwell), who is also a core bitcoin developer said that CryptoNote technology works and blows CoinJoin out of the water.

4. When will Monero get a GUI wallet (which anyone can install...) ?

At least one member of this community is working on a GUI for anyone to install. Like Bitcoin GUI.

Remember this technology is very new, this isn't a bitcoin source code copy pasta job.

We have lots of issues, transaction size, wallets working easily for services (exchanges) etc... this is early days for this technology.

Please read the whitepaper.

EDIT: regarding Darkcoin, remember a Masternode can record all the transactions it joins.

Evan is working on the next version that will make your transactions route through 10 or so Masternodes to achieve anonymity from node owners, potentially causing worse blockchain bloat than Monero. This is still flawed because Masternodes can be attacked and the effect is to force your transaction through to bad recording nodes.

[GreekBitcoin]

A few questions:

1. What technically separates Bytecoin and Monero? Aren't they both using CryptoNote?
2. Why did Bytecoin die out and what will prevent Monero from doing the same?
3. Monero offers anonymity, but so does DarkCoin. Why would anyone choose Monero when DK has a larger community?
4. When will Monero get a GUI wallet (which anyone can install...) ?

Darkcoin isnt as anonymous as it is advertising. First of all it isnt open source which is a big NO. Secondly it relies on masternodes that not only must be paid but also can be hacked or just be bad guys... Cryptonote coins doesnt need masternodes and is opensource. Actually for now, on the matter of anonymity or privacy there is only type of serious coins and those are Cryptonote coins. Darkcoin and its clone are not relevant anymore. The only possible enemy in the matter of anonymity may be zerocash/zerocoin and we will see about that in 6 months or so when it gets out...

[drawingthesun]

A few questions:

1. What technically separates Bytecoin and Monero? Aren't they both using CryptoNote?
2. Why did Bytecoin die out and what will prevent Monero from doing the same?
3. Monero offers anonymity, but so does DarkCoin. Why would anyone choose Monero when DK has a larger community?
4. When will Monero get a GUI wallet (which anyone can install...) ?

Darkcoin isnt as anonymous as it is advertising. First of all it isnt open source which is a big NO. Secondly it relies on masternodes that not only must be paid but also can be hacked or just be bad guys... Cryptonote coins doesnt need masternodes and is opensource. Actually for now, on the matter of anonymity or privacy there is only type of serious coins and those are Cryptonote coins. Darkcoin and its clone are not relevant anymore. The only possible enemy in the matter of anonymity may be zerocash/zerocoin and we will see about that in 6 months or so when it gets out...

I have no hopes for Zerocash until they reinvent a major part of their system. They require a trusted accumulator.

[aminorex]

1. What technically separates Bytecoin and Monero? Aren't they both using CryptoNote?

Mostly just bug fixes and an ecosystem.  In future, I2P.

2. Why did Bytecoin die out and what will prevent Monero from doing the same?

BCN was massively premined.  Everyone hates that because it is exploitative of the users.  Also there is no coin dispersion.  Also you can get dumped on at any moment, so it is too risky to own the coin.
The development is secretive.  Everyone hates that because there's no accountability, no evidence of forward progress, and no good channel for external improvements.

3. Monero offers anonymity, but so does DarkCoin. Why would anyone choose Monero when DK has a larger community?

For a detailed technical explanation, you need to do your own homework.  After I did mine, I sold my DRK and bought MRO because I consider the privacy enhancements of MRO today to be superior to what DRK promises in future, and consider the future privacy enhancements of MRO to be feasible to accomplish and effective in practice, such that I am willing to risk my life and the safety of my family on Monero, but not on DarkCoin.

4. When will Monero get a GUI wallet (which anyone can install...) ?

Whenever.  I don't care.  I care about mobile.  PCs are obsolete.  Also I never predict software cause life happens.

[Bitcoin++]

Thanks for replies.
I'm far from an expert but from what I hear about CryptoNote it seems it offers some real improvements to Bitcoin, most notably increased anonymity. I placed some bets on Monero which I hope will increase in value once privacy-concerned users adopt it.

[RentaMouse]

Do we have a forum/thread for more technical orientated discussion and queries, e.g. improving the daemon, documentation etc? I know there's one for the GUI wallet development, this thread is getting a bit large for most new adopters to sift out the useful info.

[Keyboard-Mash]

Do we have a forum/thread for more technical orientated discussion and queries, e.g. improving the daemon, documentation etc? I know there's one for the GUI wallet development, this thread is getting a bit large for most new adopters to sift out the useful info.

Someone should start up a self moderated thread (keep fud/trolling to a minimum), with clearly defined discussion topics.

It would probably prove to be extremely useful.

[ltcrstrbrt]

Is it there any command to search for older transactionID ?I mean.. few days ago i sent to Poloniex some monero..The coins has left from my wallet but still don't arrived on exchange.Poloniex asked me for transactionID ..

[Keyboard-Mash]

Is it there any command to search for older transactionID ?I mean.. few days ago i sent to Poloniex some monero..The coins has left from my wallet but still don't arrived on exchange.Poloniex asked me for transactionID ..

Go to your simplewallet.log and look for the amount you're missing (that you sent to Poloniex). It will be recorded there.

[ltcrstrbrt]

i have something like this : 2014-Jun-03 13:07:10.692397 Spent money: 0.007000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>
2014-Jun-03 13:07:10.692397 Height 68829, transaction <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>, spent 0.007000000000
2014-Jun-03 13:07:10.704398 Spent money: 0.040000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>
2014-Jun-03 13:07:10.705398 Height 68829, transaction <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>, spent 0.040000000000
2014-Jun-03 13:07:10.719399 Spent money: 0.030000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>
2014-Jun-03 13:07:10.719399 Height 68829, transaction <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>, spent 0.030000000000
2014-Jun-03 13:07:10.731400 Spent money: 0.006000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>

posted just a few..

[tacotime]

^^

37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c
https://minergate.com/blockchain/mro/transaction/37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c

forgot to add your payment id, so they have your money but can't tell it's from you. e-mail them your txids.

[ltcrstrbrt]

I understand you but the problem is that i used payment_ID... i'm sure about that .. hope I'll solve the problem .. Thank you  very much!

[Keyboard-Mash]

i have something like this : 2014-Jun-03 13:07:10.692397 Spent money: 0.007000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>
2014-Jun-03 13:07:10.692397 Height 68829, transaction <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>, spent 0.007000000000
2014-Jun-03 13:07:10.704398 Spent money: 0.040000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>
2014-Jun-03 13:07:10.705398 Height 68829, transaction <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>, spent 0.040000000000
2014-Jun-03 13:07:10.719399 Spent money: 0.030000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>
2014-Jun-03 13:07:10.719399 Height 68829, transaction <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>, spent 0.030000000000
2014-Jun-03 13:07:10.731400 Spent money: 0.006000000000, with tx: <37e8100b4cd37e616d5ea1575a7d1732e7c176072ed42c577373bed42ecbef3c>

posted just a few..

Look above those. It should be recorded like this:

2014-Jun-05 17:51:58.313340 Read command: transfer 1 48mdP5d2FqePGAbZe34E7Gdq5BDSYYSMZJKJXSPEiBVJ9reRQ448HBq9dW97USdvm78oGzvdVNUQv7E 2qS7urqYCKT4rGek .2

except it will have a txid after the amount (.2 in my example)

[ltcrstrbrt]

after "transfer' i put 0 and then deposit address + amount + paymentID what is the difference  between 0 and 1 or 2,3 4 ? ( except math of course )

[GreekBitcoin]

after "transfer' i put 0 and then deposit address + amount + paymentID what is the difference  between 0 and 1 or 2,3 4 ? ( except math of course )

bigger number more fees and more anonymity

[ltcrstrbrt]

I understand! thanks again

[eizh]

after "transfer' i put 0 and then deposit address + amount + paymentID what is the difference  between 0 and 1 or 2,3 4 ? ( except math of course )

This is the ring signature ambiguity parameter. The number makes you indistinguishable with that number of other users (actually outputs, but never mind that).

So if you put 2 after transfer, then some cryptography goes into effect that makes your transaction hidden between yourself and 2 other people. Anyone looking at the blockchain can't tell which of the 3 people actually spent those coins.

You pay for more anonymity with higher transaction fees paid to miners, so use it as you need it.