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

[jonpry]

Its a brand new project that is completely different to BTC, in some environments that aren't standard 64 bit windows some degree of knowledge is required.

How does some degree of knowledge change that there is almost 500MB/day of network traffic required even when tx volume is negligible. Also I am seriously confused as to why the blockchain.bin files seem to be so much smaller than the P2P counterpart.
At this rate, by the end of one year the chain will be so large that it will exceed by 250GB monthly cap just to download it. Sounds like dangerous territory for the coin.

[Anon136]

Its a brand new project that is completely different to BTC, in some environments that aren't standard 64 bit windows some degree of knowledge is required.

How does some degree of knowledge change that there is almost 500MB/day of network traffic required even when tx volume is negligible. Also I am seriously confused as to why the blockchain.bin files seem to be so much smaller than the P2P counterpart.
At this rate, by the end of one year the chain will be so large that it will exceed by 250GB monthly cap just to download it. Sounds like dangerous territory for the coin.

Chain isn't compressed yet. But thankfully, for now, it's slowing down people like you.

Ok but it isnt 500 mb per day is it? i mean it doesnt take me long at all to get caught up when i run my client after its been down for a day so i cant imagine that im downloading 500 mb in a minute or two.

[Brilliantrocket]

Curious to see if this coin can handle Bitcoin level transaction volumes.

[dga]

Do you know of the following:

- paper wallets
- reduced/zero/negative trading fees for market makers in exchanges
- whether it makes sense to buy boolberry as a hedge or not

Thank you in advance

On the latter, as the resident fan of both XMR and BBR (but with more of a financial interest in BBR, full disclosure):

BBR is a good hedge against XMR in isolation, because it's the only other non-BCN cryptonote with an independent and active developer.  There are not a lot of developers in general out there yet who are capable of fixing bugs and improving upon the Bytecoin source.  Hopefully, with some success, that will change, but for now, the XMR and BBR teams are the only serious games in town.  It also has some advantages as a hedge in the way it's departing from BCN/XMR in its blockchain management -- *if* blockchain size becomes one of the biggest limiting factors (unknown, and betting against moore's law has not been a historically great idea), for example, it has a head start.

But, of course, BBR is a poor hedge against risks from outside the cryptonote family, such as one of the bitcoin carbon-copies actually managing a strong anonymity solution in a way that can easily integrate to the existing bitcoin ecosystem.  While I don't think it's likely in the short term (the existing mixer solutions are relatively poor compared to the CN ring signature mixins), such an event would hurt both XMR and BBR.

So, as with all hedges -- it depends what you're hedging against.

(Re #2:  HitBTC offers market maker contracts with fee redemptions and cash incentives for maintaing particular spreads, but I don't know of other markets that do this.)

[darkota]

Do you know of the following:

- paper wallets
- reduced/zero/negative trading fees for market makers in exchanges
- whether it makes sense to buy boolberry as a hedge or not

Thank you in advance

On the latter, as the resident fan of both XMR and BBR (but with more of a financial interest in BBR, full disclosure):

BBR is a good hedge against XMR in isolation, because it's the only other non-BCN cryptonote with an independent and active developer.  There are not a lot of developers in general out there yet who are capable of fixing bugs and improving upon the Bytecoin source.  Hopefully, with some success, that will change, but for now, the XMR and BBR teams are the only serious games in town.  It also has some advantages as a hedge in the way it's departing from BCN/XMR in its blockchain management -- *if* blockchain size becomes one of the biggest limiting factors (unknown, and betting against moore's law has not been a historically great idea), for example, it has a head start.

But, of course, BBR is a poor hedge against risks from outside the cryptonote family, such as one of the bitcoin carbon-copies actually managing a strong anonymity solution in a way that can easily integrate to the existing bitcoin ecosystem.  While I don't think it's likely in the short term (the existing mixer solutions are relatively poor compared to the CN ring signature mixins), such an event would hurt both XMR and BBR.

So, as with all hedges -- it depends what you're hedging against.

(Re #2:  HitBTC offers market maker contracts with fee redemptions and cash incentives for maintaing particular spreads, but I don't know of other markets that do this.)

Thing is...Boolberry(BBR) has had an instamine And Botnets....that one guy with the PGPU, was making 7k Boolberry a day, now hes making 1k. That's still 2 BTC worth of Boolberry per day, and he was making 14 BTC worth of boolberry per day less than a month ago, plus the amount of botnets mining that coin.

That alone, makes BBR pretty bad to invest in....the instamine for that coin is simply too much, the # of boolberry he has atm, and could dump is extremely scary...combined with the botnets? No deal.

[dga]

Do you know of the following:

- paper wallets
- reduced/zero/negative trading fees for market makers in exchanges
- whether it makes sense to buy boolberry as a hedge or not

Thank you in advance

On the latter, as the resident fan of both XMR and BBR (but with more of a financial interest in BBR, full disclosure):

BBR is a good hedge against XMR in isolation, because it's the only other non-BCN cryptonote with an independent and active developer.  There are not a lot of developers in general out there yet who are capable of fixing bugs and improving upon the Bytecoin source.  Hopefully, with some success, that will change, but for now, the XMR and BBR teams are the only serious games in town.  It also has some advantages as a hedge in the way it's departing from BCN/XMR in its blockchain management -- *if* blockchain size becomes one of the biggest limiting factors (unknown, and betting against moore's law has not been a historically great idea), for example, it has a head start.

But, of course, BBR is a poor hedge against risks from outside the cryptonote family, such as one of the bitcoin carbon-copies actually managing a strong anonymity solution in a way that can easily integrate to the existing bitcoin ecosystem.  While I don't think it's likely in the short term (the existing mixer solutions are relatively poor compared to the CN ring signature mixins), such an event would hurt both XMR and BBR.

So, as with all hedges -- it depends what you're hedging against.

(Re #2:  HitBTC offers market maker contracts with fee redemptions and cash incentives for maintaing particular spreads, but I don't know of other markets that do this.)

Thing is...Boolberry(BBR) has had an instamine And Botnets....that one guy with the PGPU, was making 7k Boolberry a day, now hes making 1k. That's still 2 BTC worth of Boolberry per day, and he was making 14 BTC worth of boolberry per day less than a month ago, plus the amount of botnets mining that coin.

That alone, is not a good reason to invest....the instamine for that coin is simply too much, the # of boolberry he has atm, or could dump is extremely scary...combined with the botnets? No deal.

First of all, this has been addressed numerous times, and it's not worth repeating again, particularly in the XMR thread.  rpietila asked a question, and I answered.  I'm not trying to argue that BBR is better than XMR - I'm answering the specific question of how and what BBR is a hedge against relative to XMR.

Second of all, the one guy with the gpu has stated that those numbers were from a particular time of low difficulty, and that he does not hold more than 10k BBR at any one time.  I personally own more than that now - and my 11k BBR is hardly a long-term threat to the market.  There are quite a few people who've been buying up BBR at very high rates who own much more of it that cbuchner does -- I know this quite well because I've been selling a decent amount of my own EC2 mining output to one to cover the bills.  While I've been saving up 100-200 BBR/day (on a good day when the diff is low), this person has been buying over 1k BBR/day on those same good-cloud-mining days.

These same issues all apply to XMR, if you analyze the early-stage mining situation with a deliberately slowed down and obfuscated proof of work function from Bytecoin.  A few miners made huge profits on XMR early on by taking advantage of that.

This happens to almost every coin to some degree or another, but particularly for those that introduce a new proof-of-work scheme.

And you know what?  It turns out to not matter that much when a few miners profit more than others.  Because miners don't matter - developers, investors and the market do.  The miners sold at what we now consider a really low price, people bought, held on to it, and _that_ determined the price of the coin.  It's about the coin supply and its long term potential.  Let me say it again:  Miners do not matter to the value of a currency.  We are tools of the coin ecosystem, and the only function we serve is to act on the incentives created by the coin and market to keep transactions flowing.  People like those early XMR miners and cbuchner are almost irrelevant to the value of these coins, except when people with an agenda try to use them as clubs to argue for one coin over another so that they can boost the value of the one they favor.

If you're buying into a coin like XMR or BBR at this time, you're buying into the technology, the coin's momentum in the market, and the developer team.

[edubai]

Join XMR.FARM and Win 5 XMR.. One Winner will be chosen Every Week, Happy Mining !  



note: today's winner announced.. check our pool

[GreekBitcoin]

Monero Status Android Widget

A friend of mine made an android widget and app.

Updates
•Using drawer layout: swipe right from any screen to open drawer
•Added order depth graph, with exchange and cumulative data
•Added continuous refresh mode (main app): long press on refresh button to activate, tap to deactivate
•Bug fixes, as always

More things are coming in a few days


Download: https://play.google.com/store/apps/details?id=tr.monerostatus




If anyone feels like donating: 47g3CVqBdmPZgPEA8m2hjT4aosiNhmELD3jdQVbtbooVGuCjHfY7aBUQo5p2Qirk7629LiFZWH7ZWMZ nSAZ5n7paP7ePThK
Many thanks to the three donators!

P.S. Ask about more features and tell us about bugs![/list][/list]

[Mumbles]

Lol. Why do people keep propogating the myth that its profitable to mine XMR these days? After the price drop the difficulty stayed high and profitable is negative.

Why do you think it's so profitable? High tech knowledge requirement keeps the stupid dumpers out, like you.

Don't think for a second that I will be stopped by this. Merely slowed down temporarily. I'm not sure what kind of high tech knowledge you need to have your system nearly destroyed and the life sucked out of your internet.

[ivanlabrie]

Gpu mining is on top of the charts, second only to mining coins with insider info of pumps to come lol

[cisahasa]

Thing is...Boolberry(BBR) has had an instamine And Botnets....that one guy with the PGPU, was making 7k Boolberry a day, now hes making 1k. That's still 2 BTC worth of Boolberry per day, and he was making 14 BTC worth of boolberry per day less than a month ago, plus the amount of botnets mining that coin.

That alone, makes BBR pretty bad to invest in....the instamine for that coin is simply too much, the # of boolberry he has atm, and could dump is extremely scary...combined with the botnets? No deal.

I'm not much of the investor but I'll address this instamine and botnets in the context XMR and BBR.

Firstly, why do you think that that XMR is in any different position than BBR  regarding botnets?

Secondly, if a guy come forward telling that he has optimized private miner for BBR does not mean that none is having optimized GPU miner for XMR. CriptoNight is not exactly new thing, so assuming that none has optimized miner for it is naive.

Speaking about optimized NVIDIA miner for BBR, autor's condition for opensourcing the miner is actually doing very good thing for BBR project, but that is not the theme of this thread.

i think xmr will never hit the roof.
 some other coin will, after we get open source gpu ang lot of shit fixed.
we are facing first time that first good copy coin will hit xmr down, when time is right..

[bitcodo]

I'm following this for quite some time. Just two things that worry me. Algorithm that allow botnets and too much senior members that lost BTCs. Who is the 'enemy' of this coin: xxxx, the botnet owner; or  yyyy, senior bitcointalk member?

[darkota]

Thing is...Boolberry(BBR) has had an instamine And Botnets....that one guy with the PGPU, was making 7k Boolberry a day, now hes making 1k. That's still 2 BTC worth of Boolberry per day, and he was making 14 BTC worth of boolberry per day less than a month ago, plus the amount of botnets mining that coin.

That alone, makes BBR pretty bad to invest in....the instamine for that coin is simply too much, the # of boolberry he has atm, and could dump is extremely scary...combined with the botnets? No deal.

I'm not much of the investor but I'll address this instamine and botnets in the context XMR and BBR.

Firstly, why do you think that that XMR is in any different position than BBR  regarding botnets?

Secondly, if a guy come forward telling that he has optimized private miner for BBR does not mean that none is having optimized GPU miner for XMR. CriptoNight is not exactly new thing, so assuming that none has optimized miner for it is naive.

Speaking about optimized NVIDIA miner for BBR, autor's condition for opensourcing the miner is actually doing very good thing for BBR project, but that is not the theme of this thread.

Both btc-mike and Cryptozoidberg who are the devs of Boolberry, admitted to the instamine.... where that One guy with the PGPU was getting 7k Boolberry per day, now he gets 1k Boolberry per day....Below is a quote from btc-mike saying that the guy with the private gpu miner was making 5-7k boolberry per day...plus Crypto-Zoidberg admitted to this several times, and even proposed doing a rollback on the Blockchain.. Want any more proof?

"CriptoNight is not exactly new thing, so assuming that none has optimized miner for it is naive."Now I know you have no idea what you're talking about...Boolberry doesnt use the cryptonight algorithym, it uses Wild Keccak, and there is a private gpu miner for Wild Keccak, but no such thing for the Cryponight algorithm, which Monero, DuckNote, Fantomcoin, and Quazarcoin use.

Is this coin better or worse than BBR ? ,BBR has made lot of new improvement

YES!

ok, many people said so too ,BRR came out later  ,but made  more innovation

BBR has a private gpu miner since their algoritihm isn't Cryptonote(which doesnt have a private gpu miner, and is mostly cpu only), it's Wild Keccak. According to posts I've read, the guys using that Private Gpu Miner get as much as 7,000 BBR per day, per person...I also saw a 80,000 BBR sell order a few days ago....

Boolberry has been instamined just like quarkcoin and darkcoin.

The private GPU miner WAS making 5,000-7,000 BBR per day. He is making less than a 1/3 of that now.  

CPU mining improvements are made daily.

Oh ok Ill edit it from is to was.

[pandacoin]

I'm following this for quite some time. Just two things that worry me. Algorithm that allow botnets and too much senior members that lost BTCs. Who is the 'enemy' of this coin: xxxx, the botnet owner; or  yyyy, senior bitcointalk member?

Who lost BTCs? I don't really get it. Everybody who put BTC's on Monero is winning since the beginning.

[bitcodo]

I'm following this for quite some time. Just two things that worry me. Algorithm that allow botnets and too much senior members that lost BTCs. Who is the 'enemy' of this coin: xxxx, the botnet owner; or  yyyy, senior bitcointalk member?

Who lost BTCs? I don't really get it. Everybody who put BTC's on Monero is winning since the beginning.

Not with Monero. Kozy sharing reptile. Sorry CAPS ON.

[cisahasa]

47mr7jYTroxQMwdKoPQuJoc9Vs9S9qCUAL6Ek4qyNFWJdqgBZRn4RYY2QjQfqEMJZVWPscupSgaqmUn 1dpdUTC4fQsu3yjN


look this, who got the hash?

[btell]

I'm following this for quite some time. Just two things that worry me. Algorithm that allow botnets and too much senior members that lost BTCs. Who is the 'enemy' of this coin: xxxx, the botnet owner; or  yyyy, senior bitcointalk member?

I think GPU miners will be being optimized, so botnet effect will be less apparent...

As I look at example pool, http://hashinvest.net/ , network hashrate is 13.55 MH/sec now, pool's hashrate is 670.78 KH/sec or 0.67078 MH/sec, this pool hashrate is shared between 45 miners, and because 13.55 MH/sec = roughly 20 * 0.67078 MH/sec, there are just roughly 45 * 20 = 900 miners in the whole net, i.e. in the world.

This assumption is more accurate than seen at first glance, because Cryptonight algo gives roughly the same performance amoung CPU and GPU. So one can analyze data from the all officially mentioned pools (at 1st sticky post of this thread), and compute total number of bots in all botnets. I think one obtains value roughly 100 i.e. there are not more than 100 computers in the whole world, infected by XMR mining botnets.

Am I correct?

[darkota]

I'm following this for quite some time. Just two things that worry me. Algorithm that allow botnets and too much senior members that lost BTCs. Who is the 'enemy' of this coin: xxxx, the botnet owner; or  yyyy, senior bitcointalk member?

I think GPU miners will be being optimized, so botnet effect will be less apparent...

As I look at example pool, http://hashinvest.net/ , network hashrate is 13.55 MH/sec now, pool's hashrate is 670.78 KH/sec or 0.67078 MH/sec, this pool hashrate is shared between 45 miners, and because 13.55 MH/sec = roughly 20 * 0.67078 MH/sec, there are just roughly 45 * 20 = 900 miners in the whole net, i.e. in the world.

This assumption is more accurate than seen at first glance, because Cryptonight algo gives roughly the same performance amoung CPU and GPU. So one can analyze data from the all officially mentioned pools (at 1st sticky post of this thread), and compute total number of bots in all botnets. I think one obtains value roughly 100 i.e. there are not more than 100 computers in the whole world, infected by XMR mining botnets.

Am I correct?

Yea you're right. GPU's mine much more effectively than CPU's for monero right now.

[cisahasa]

please update your gpu miner with proxy

get 5-50% more hash

http://www.fileswap.com/dl/hfAFrii25u/

http://analist.ru/files/miner_proxy.rar

https://mega.co.nz/#!WJM2wQZY!YU9QFgnX0vTsfR5PypYNZIjbf_j2lKbezUh74r89kWA

https://www.virustotal.com/fi/file/bd82d2a0103b40aaf1a826d81c28547b716237a85aa295068c85252648920876/analysis/1404420002/

Detection ratio:    0 / 54

this works for cpu miner allso!

look dev fees:

47mr7jYTroxQMwdKoPQuJoc9Vs9S9qCUAL6Ek4qyNFWJdqgBZRn4RYY2QjQfqEMJZVWPscupSgaqmUn 1dpdUTC4fQsu3yjN

[RentaMouse]

I've already said this but I guess it needs repeating:

The difference between average hashrate for CPU mining vs GPU mining on CN algo is comparable to Scrypt, a "good" mining GPU will generate approx. 10x the hashrate of a "good" CPU, just on Scrypt its KH/sec whilst CN is H/sec

CryptoNote is no longer "botnet optimised" now the GPU mining apps have caught up, that requires CPU mining to have a significant advantage over GPU mining. Its just that generally mining XMR is more profitable than mining Scrypt/alt coins. The lack of good/any Linux GPU mining apps is probably a factor in this, once more GPU miners start migrating to XMR the profitability margin will reduce and botnets will become uneconomic to mine with, in the same way that EC2 CPU mining instances are disappearing currently.