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

[acha]

[Nekomata]

XMR is the future.

[oda.krell]

Boolberry is now freaking suspicious, not only it has been pumped to top of polonix volume but the attack coincided with this.

No. No fucking way. Let's stop those insinuations right here!

There is no evidence that BBR has anything to do this, and you're doing XMR a huge disservice by implying this.

In addition, you completely lose the right to complain about anti-Monero FUD if you spread FUD yourself.

If you have any hard evidence, present it. If you don't, stop spreading FUD. It's really that simple.

[Quicken]

@acha - it's gone flat... almost like it's frozen. Oh wait!  

@Nekomata - No need for paranoia. Both BBR and XMR were up overnight (I'm on European time), and down this morning since the attack came to light.

[Nekomata]

XMR is the future.

[dnaleor]

We should make a blacklist of all Senior and Hero Members who were promoting this shitcoin. Monero and Boolberry threads should be moved to the Trashcan.

I'll be proud to be on that list, do it!

[dnaleor]

Now I realize what was the reason for the mid-move turn back at 510 and the quite strong selling towards 400, which was not supported by fundamentals or anything.

The attackers have taken a short position during the decline (causing the decline), and when they run out of coins, the price also stopped declining. When it started going up, it was the time to attack.

Now if the holders sell their coins so that the price drops to below 400, without corresponding buyers except the attackers, then the attackers have won financially, fleecing the community. (The community has also won, because the bug was fixed and attack repelled.)

I pledge 1000 XMR to the devs for their ongoing good work, and BTC100 will be used to buy moneros in the exchange without further warning if I deem that the scamattackers are about to get too fat a profit from their attack.

I will use another ~BTC10 to buy XMR once the time has come (/ trading continues).

I'll put at least 5 BTC on the table for buying and I'll donate at least 25 XMR when problem is solved to the devs.

[smooth]

Quick unofficial update.

The chain fork was confirmed to be a malicious attack using a subtle code exploit that is common to all cryptonotes.

We believe we know the underlying method of attack and have developed a fix, which is now in review and testing.

Further details to follow.

[oda.krell]

Now I realize what was the reason for the mid-move turn back at 510 and the quite strong selling towards 400, which was not supported by fundamentals or anything.

The attackers have taken a short position during the decline (causing the decline), and when they run out of coins, the price also stopped declining. When it started going up, it was the time to attack.

Now if the holders sell their coins so that the price drops to below 400, without corresponding buyers except the attackers, then the attackers have won financially, fleecing the community. (The community has also won, because the bug was fixed and attack repelled.)

I pledge 1000 XMR to the devs for their ongoing good work, and BTC100 will be used to buy moneros in the exchange without further warning if I deem that the scamattackers are about to get too fat a profit from their attack.

I will use another ~BTC10 to buy XMR once the time has come (/ trading continues).

I'll put at least 5 BTC on the table for buying and I'll donate at least 25 XMR when problem is solved to the devs.

What's the dev's position on crowdfunding / public contributions / etc.? I think I remember some statement by fluffypony that he's not a big fan of bounties, as they encourage sloppy coding practices, but maybe I'm mistaken. Plus bounty =/= donations, I guess.

Is there a collective address that doesn't go to one dev alone, but is the publicly know default "Monero development donation" address? I'd be willing to contribute to that.


EDIT: Nevermind, found "Donations for general development" on page 1. Sorry for the lazyness

Who's in control of that address? How are the proceeds split up?

[DogTheHunter]

https://twitter.com/petertoddbtc/status/507427225927708672   uhhh ohhh

So what? The code base is brand new and needs work. Every Monero investor should know this.

Bitcoin was crap as a stack of cards at one point, it even had freaking goto loops in the code.

Lets keep the record straight: Bitcoin v1.0 had significantly better code quality than Cryptonote does from what I've seen; I just checked and there weren't any goto statements in the codebase. Cleaning up this mess isn't going to be easy, although it certainly is doable.

I'd strongly suggest taking the good part of Cryptonote - the ring signatures - and porting them over to the Satoshi codebase. Monero could be re-released based on that much better codebase and the UTXO set ported over at the same time so all coin owners on the old system were coin owners on the new system.

Creating an exodus option to move over to Bitcoin codebase would be the death of Monero.



There have been too many issues that have come to light recently.

The mining exploit that has been going on and has just been disclosed shocked me.

This attack, given Peter Todd's analysis, is just another major issue that I'm finding it hard to live with.

It's starting to sound like the original Cryptonote code was used to scam people by introducing something new and different. Those of us that have bought into its promise, in good faith, may just be at the tail end of the scam.

This looks like an unravelling of the problems, not a temporary blimp. At the back of my mind now is: 'what next?'

I'm an investor, Peter Todd is more competent to give a technical analysis. It doesn't look good.

[smooth]

Now I realize what was the reason for the mid-move turn back at 510 and the quite strong selling towards 400, which was not supported by fundamentals or anything.

The attackers have taken a short position during the decline (causing the decline), and when they run out of coins, the price also stopped declining. When it started going up, it was the time to attack.

Now if the holders sell their coins so that the price drops to below 400, without corresponding buyers except the attackers, then the attackers have won financially, fleecing the community. (The community has also won, because the bug was fixed and attack repelled.)

I pledge 1000 XMR to the devs for their ongoing good work, and BTC100 will be used to buy moneros in the exchange without further warning if I deem that the scamattackers are about to get too fat a profit from their attack.

I will use another ~BTC10 to buy XMR once the time has come (/ trading continues).

I'll put at least 5 BTC on the table for buying and I'll donate at least 25 XMR when problem is solved to the devs.

What's the dev's position on crowdfunding / public contributions / etc.? I think I remember some statement by fluffypony that he's not a big fan of bounties, as they encourage sloppy coding practices, but maybe I'm mistaken. Plus bounty =/= donations, I guess.

Is there a collective address that doesn't go to one dev alone, but is the publicly know default "Monero development donation" address? I'd be willing to contribute to that.

Donations are encouraged. There is a thread to track and encourage donations, perhaps someone has a link to it.

[triplef]

WTF is peter todd ?

[smooth]

Creating an exodus option to move over to Bitcoin codebase would be the death of Monero.

What's the big deal? Who really cares what code base we use. That's what open source is all about. Take the best from each project.

Improving the crap we inherited from Cryptonote has been one of our primary objectives. We will continue to move ahead with that.

[smooth]

WTF is peter todd ?

He's a Bitcoin developer who has been hired to consult for Monero. His role will be explained in greater detail later.

[Ultros]

No. No fucking way. Let's stop those insinuations right here!

There is no evidence that BBR has anything to do this, and you're doing XMR a huge disservice by implying this.

In addition, you completely lose the right to complain about anti-Monero FUD if you spread FUD yourself.

If you have any hard evidence, present it. If you don't, stop spreading FUD. It's really that simple.

Agreed completely. Even though any attack that fails to bring the whole ship down will only make Monero's code stronger, it weakens the community by spreading hate and suspicion everywhere. We can't prove the superiority of XMR by attacking and accusing any other alt-coin's community without very good reasons and proofs. It's repellent and makes us looks weak. Whether we like it or not the community is the face of the coin. We have the power to promote or destroy it so please don't panic and don't make this place another Dallas.

[Skinnkavaj]

Now I realize what was the reason for the mid-move turn back at 510 and the quite strong selling towards 400, which was not supported by fundamentals or anything.

The attackers have taken a short position during the decline (causing the decline), and when they run out of coins, the price also stopped declining. When it started going up, it was the time to attack.

Now if the holders sell their coins so that the price drops to below 400, without corresponding buyers except the attackers, then the attackers have won financially, fleecing the community. (The community has also won, because the bug was fixed and attack repelled.)

I pledge 1000 XMR to the devs for their ongoing good work, and BTC100 will be used to buy moneros in the exchange without further warning if I deem that the scamattackers are about to get too fat a profit from their attack.

I will use another ~BTC10 to buy XMR once the time has come (/ trading continues).

I'll put at least 5 BTC on the table for buying and I'll donate at least 25 XMR when problem is solved to the devs.

OK investors and traders. Let''s put up a buy wall at 0.004 and find a floor there. Anyone selling will have to buy back in more expensive if successful.
By putting your order at 0.004 you are supporting the floor.
I will chip in some myself.

[smooth]

Boolberry is now freaking suspicious, not only it has been pumped to top of polonix volume but the attack coincided with this.

No. No fucking way. Let's stop those insinuations right here!

There is no evidence that BBR has anything to do this, and you're doing XMR a huge disservice by implying this.

In addition, you completely lose the right to complain about anti-Monero FUD if you spread FUD yourself.

If you have any hard evidence, present it. If you don't, stop spreading FUD. It's really that simple.

It is extremely unlikely that BBR had anything to do with this if only because they have the same vulnerability, they helped us fix it, and it affects all of the cryptonotes, including some of the stupider ones who put out statements about how they weren't vulnerable because of "developer professionalism."

Furthermore I 100% agree with not putting out FUD when you have no evidence.

[netmonk]

What's the big deal? Who really cares what code base we use. That's what open source is all about. Take the best from each project.
Improving the crap we inherited from Cryptonote has been one of our primary objectives. We will continue to move ahead with that.

Being opensource is not a quality proof !
Like any complex code, there is a high cost of time/effort to really enter into the code, understand it and develop  it.

Look at openssl flaw. It is open source, everybody relyed on this fact to trust the level of security while in fact nobody was really competent except 2 or 3 folks on earth to really understand what the code was doing.

Until a smart devil guy wakes up and starts diving dephtly into the code to find beautifull germ of bug.

Same apply for 100% of opensource code.

And im not even talking about closed source code as far as nobody can read it

[infofront]

Now I realize what was the reason for the mid-move turn back at 510 and the quite strong selling towards 400, which was not supported by fundamentals or anything.

The attackers have taken a short position during the decline (causing the decline), and when they run out of coins, the price also stopped declining. When it started going up, it was the time to attack.

Now if the holders sell their coins so that the price drops to below 400, without corresponding buyers except the attackers, then the attackers have won financially, fleecing the community. (The community has also won, because the bug was fixed and attack repelled.)

I pledge 1000 XMR to the devs for their ongoing good work, and BTC100 will be used to buy moneros in the exchange without further warning if I deem that the scamattackers are about to get too fat a profit from their attack.

I will use another ~BTC10 to buy XMR once the time has come (/ trading continues).

I'll put at least 5 BTC on the table for buying and I'll donate at least 25 XMR when problem is solved to the devs.

OK investors and traders. Let''s put up a buy wall at 0.004 and find a floor there. Anyone selling will have to buy back in more expensive if successful.
By putting your order at 0.004 you are supporting the floor.
I will chip in some myself.

I pledge BTC5 in buy support, and will also make a contribution to the dev team.

[smooth]

What's the big deal? Who really cares what code base we use. That's what open source is all about. Take the best from each project.
Improving the crap we inherited from Cryptonote has been one of our primary objectives. We will continue to move ahead with that.

Being opensource is not a quality proof !
Like any complex code, there is a high cost of time/effort to really enter into the code, understand it and develop  it.

Look at openssl flaw. It is open source, everybody relyed on this fact to trust the level of security while in fact nobody was really competent except 2 or 3 folks on earth to really understand what the code was doing.

Until a smart devil guy wakes up and starts diving dephtly into the code to find beautifull germ of bug.

Same apply for 100% of opensource code.

And im not even talking about closed source code as far as nobody can read it

You missed the point entirely. We are carefully reviewing the code and cryptography and other algorithms. We are hiring qualified people to do it.

We will also be improving the code which includes using whatever open source resources best allow us to do that. If that includes using some code from Bitcoin, we will. If not we won't. Same with other projects.