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

[monero]

We now have an official Monero community FAQ

It's made as a place to redirect all common questions to, built with the help of the community to cover every aspect.

To participate just submit a reply with a question and the relating answer - Only one Q/A per post!
If you don't know the answer, we still encourage you to ask so more experienced users can answer your questions and we can add it to the FAQ

Any questions related to the FAQ should be redirected to either the monero-extended account or to Quanttek

-updated by Quanttek

[owlcatz]

I have no complaints and no gripes with how the coin is being developed. I think it is the right way to develop a coin that is privacy and security orientated. I think my post might have had a bit of an anti-Monero tone to it and I didn't mean for it to - I think I was just launching off onto a mini rant about useability and not taking the wider context - but fundamentally, I think Monero is heading in the absolute right direction for what it was designed to achieve.

Don't worry, I didn't take it as being negative at all:) I'm a massive, massive advocate of "form over function" (or, maybe more specifically, "simple and elegant over complex and customisable"), and Monero will get that.

perhaps i'm not alone, but your posts alone fluffypony make me love this coin even more - i can tell you are truly vested in it. as am i, financially, but hey, that's always a gamble. i won't complain unless you run off like the USB coin guy, otherwise i see great things ahead for you and XMR.

[cinnamon_carter]

a gui vs command line wallet is something for the long term if this is going to appeal to a wider audience.

personally i think the focus on mining and research of the source for now is where I would focus efforts.

[sammy007]

blockchain.info is truly a web-based wallet, many would love to have something like that for xmr

Major updates must be done before it happen. It's not simple to create a dedicated wallet for everyone, currently you have to run a separate instance of simplewallet for everyone.

[smooth]

blockchain.info is truly a web-based wallet, many would love to have something like that for xmr

Major updates must be done before it happen. It's not simple to create a dedicated wallet for everyone, currently you have to run a separate instance of simplewallet for everyone.

That is not necessarily a hard blocker if you look at things as google does (i.e. scale out horizontally). You can probably run dozens if not hundreds of instances of simplewallet on one server (I see memory usage of 0.12 GB each, and a lot of that might be shared libraries), and easily spread them out on multiple servers. At least thousands of simultaneous users is not difficult, and that's pretty far in the future for such a service. This is not ideal, but it is feasible.

[sammy007]

blockchain.info is truly a web-based wallet, many would love to have something like that for xmr

Major updates must be done before it happen. It's not simple to create a dedicated wallet for everyone, currently you have to run a separate instance of simplewallet for everyone.

That is not necessarily a hard blocker if you look at things as google does (i.e. scale out horizontally). You can probably run dozens if not hundreds of instances of simplewallet on one server (I see memory usage of 0.12 GB each, and a lot of that might be shared libraries), and easily spread them out on multiple servers. At least thousands of simultaneous users is not difficult, and that's pretty far in the future for such a service. This is not ideal, but it is feasible.

Pain in the ass, I'd better pay to dev team to do something if I need multiple addresses in one wallet daemon. Better for everyone and especially for XMR ecosystem.

[iourzzz]

The dream future Monero wallet could have an ability to send XMR not only to Monero addresses, but also directly to BTC addresses and vice versa. It will greatly expand the adoption.

To realize this concept there can be internal exchange on back end server with enough reserve of both currencies auto-converting instantly in both sides at average market rates. It can be also done in cooperation with a real external exchange. But probably internal or even decentralized system can have much more benefits.

If all of this can operate seamless for end users with light weight client wallets - a lot of people will prefer to store their money in private Monero while keeping an ability to use all the exploding Bitcoin infrastructure.

[dewdeded]

Would BTC<->XMR fee-less or are would you be ok paying a small fee?

[dewdeded]

If a person X wan'ts to support the XMR ecosystem. What service/solution should he offer, that would help the XMR community to grow & prosper, as it is most missed today?


Cliffs for realism:

- Must be doable online service/project/company. Shouldn't need more then $50 K investment.

- No ethics needed, can be legit business, semi-legit/grey area or not legal, in underdeveloped countries like North Korea, USA, Myanmar, Afghanistan, etc.

- Obvious no pervert or hardcore freaky/criminal business cases/ideas, that would give XMR bad image.

- Can be if technically or intellectual challenging. But suggest what you think XMR community/ecosystem is missing.
(Even if it's standard ecommerce stuff or easy adaption to XMR of some standard webservice, that aint cool. Where building & operation site standard/boring,
some one was to build it for XMR. If there is demand.)

[kbm]

Would BTC<->XMR fee-less or are would you be ok paying a small fee?

If there was a fee, I would imagine it would be plugged directly into an exchange and you'd have to pay exchange fees and transaction fees. Are we looking at a conversion, or a multi-faceted wallet? It sounds like you're talking about a conversion, but I think just a multi-faceted wallet would be cool too. Something that you can deposit both BTC and XMR into before a purchase.

I would think that if something cool like that were to happen (conversion) though, maybe the first step would be getting both into one GUI?

Of course then there's seller fees etc, plus two different api's to deal with. It would be an incredible amount of work, but the outcome would be really great IMO.

[dewdeded]

IMHO, for XMR there is a new kind of "exchange service" needed.

I feel like an: "trustworthy" or "trustless" XMR<->BTC exchange avaible on the DarkNet is needed. Doing quick/instant anon XMR<->BTC exchanges for an small fee, like 0,3%.
Exchange features: 100% anon, no user accounts, no logging, instant delivery, obvious no KYC/AML bullshit, no frills (only XMR<->BTC), quick order process, instant payout after receiving customer TX, always $3000 till $10000 reserve of both coins, no hour long waiting for "balance refill" (like at russian ecurrency exchangers), owner based in XMR community and supporting XMR development with profit from fees, very good, audited opsec

[David Latapie]

We now have an official Monero community FAQ

It's made as a place to redirect all common questions to, built with the help of the community to cover every aspect.

To participate just submit a reply with a question and the relating answer - Only one Q/A per post!
If you don't know the answer, we still encourage you to ask so more experienced users can answer your questions and we can add it to the FAQ

Any questions related to the FAQ should be redirected to either the monero-extended account or to Quanttek

-updated by Quanttek

To be exact, you can ask several question in one post. We (the monero teams, be it core team or extended team) will recreate a Q/A so that we can update the post later when necessary.

The conversion is done. Now, there is one question per post. Feedbacks welcome.

[David Latapie]

https://www.youtube.com/watch?feature=player_detailpage&v=Q-LNTrYLC8k#t=1328

Summary?

[arielbit]

yes milord 

[mmmaybe]

The dream future Monero wallet could have an ability to send XMR not only to Monero addresses, but also directly to BTC addresses and vice versa. It will greatly expand the adoption.

To realize this concept there can be internal exchange on back end server with enough reserve of both currencies auto-converting instantly in both sides at average market rates. It can be also done in cooperation with a real external exchange. But probably internal or even decentralized system can have much more benefits.

If all of this can operate seamless for end users with light weight client wallets - a lot of people will prefer to store their money in private Monero while keeping an ability to use all the exploding Bitcoin infrastructure.

this was suggested before, seamless xmr/btc conversion sounds really awesome

Wow, this would be such a great feature 

[Joshuar]

The dream future Monero wallet could have an ability to send XMR not only to Monero addresses, but also directly to BTC addresses and vice versa. It will greatly expand the adoption.

To realize this concept there can be internal exchange on back end server with enough reserve of both currencies auto-converting instantly in both sides at average market rates. It can be also done in cooperation with a real external exchange. But probably internal or even decentralized system can have much more benefits.

If all of this can operate seamless for end users with light weight client wallets - a lot of people will prefer to store their money in private Monero while keeping an ability to use all the exploding Bitcoin infrastructure.

this was suggested before, seamless xmr/btc conversion sounds really awesome

Wow, this would be such a great feature 

Yea that seems very nice.

[Vanderi]

The dream future Monero wallet could have an ability to send XMR not only to Monero addresses, but also directly to BTC addresses and vice versa. It will greatly expand the adoption.

To realize this concept there can be internal exchange on back end server with enough reserve of both currencies auto-converting instantly in both sides at average market rates. It can be also done in cooperation with a real external exchange. But probably internal or even decentralized system can have much more benefits.

If all of this can operate seamless for end users with light weight client wallets - a lot of people will prefer to store their money in private Monero while keeping an ability to use all the exploding Bitcoin infrastructure.

this was suggested before, seamless xmr/btc conversion sounds really awesome

Wow, this would be such a great feature  

Yea that seems very nice.

I have talked personally to fluffypony about this and he said it is not impossible, but there would be a privacy/security issue where btc and xmr meet.


edit: anyway I think that it is all or nothing with Monero that we're going for, not just the privacy part for bitcoin to use. Monero is a great, fast, secure coin.

[Anon136]

Anyone know if monero trezor compatibility will be a possibility in the future?

[dewdeded]

Anyone know if monero trezor compatibility will be a possibility in the future?

Possible cuz software, driver and firmware is open source and documented.

[Anon136]

wow crickets.