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

[neverminer77]

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.

Any ideas who's to blame?

[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.

Any ideas who's to blame?

I have no comment on that at this time.

[btcney]

Good news!

Seems that CryptoNote fixed flaw with merkle hash!
Fix is already on github, new Boolberry build is coming soon.


Well.... it seems that it was pretty hard day for many people here

Hmmmm they already got a fix for this?
Pretty weird if you ask me

[MadGhost]

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.

that is a good choice in order to make the buyer to buy at higher price and do  not let any downfall.

[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

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.

It seems you didn't take the best of cryptonote base code.

But anyway you also missed the point that refutes the common belief that opensource==quality !

[jeezy]

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.

Exactly. Pretty much directly after the Mining Software disclosure I got out with a good 30% profit. And I'm pretty sure I won't regret it, ever.

[fluffypony]

Exactly. Pretty much directly after the Mining Software disclosure I got out with a good 30% profit. And I'm pretty sure I won't regret it, ever.

The Mining Software disclosure? What's that?

[infofront]

It's new code. There will be bugs. If you didn't realize this, you have no business investing in Monero, or probably any other cryptocurrency.

[pa]

Exactly. Pretty much directly after the Mining Software disclosure I got out with a good 30% profit. And I'm pretty sure I won't regret it, ever.

The Mining Software disclosure? What's that?

He's talking about dga's blog post on his miner improvements.

[Nekomata]

XMR is the future.

[Hunyadi]

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.

I wonder why you guys are expecting a dump 

[aistto]

can't download blockchain, I see



http://i004.radikal.ru/1409/5b/d1b0ad7c4afa.png

[EFS]

I'll reserve 1 BTC to buy Monero after a period of time markets are resumed on poloniex.

+2BTC from me, in case buy support is needed.

[Triffin]

Could someone give a non tech explanation of what's going on with XMR ??

TIA ..

Triff ..

[Chris001]

That was a hell of a page 666, really weird. lol

Hope everything works out ok for you guys.

[Nekomata]

XMR is the future.

[shojayxt]

Good news!

Seems that CryptoNote fixed flaw with merkle hash!
Fix is already on github, new Boolberry build is coming soon.


Well.... it seems that it was pretty hard day for many people here

Hmmmm they already got a fix for this?
Pretty weird if you ask me

What's weird about it?  Every cryptonote dev was likely working on it.  


This was an attack not just on XMR but cryptonote itself.  XMR is the biggest so cutting off the head so to speak would be the best tactic for those wishing to take down the up and coming protocol.  

[smooth]

Good news!

Seems that CryptoNote fixed flaw with merkle hash!
Fix is already on github, new Boolberry build is coming soon.


Well.... it seems that it was pretty hard day for many people here

Hmmmm they already got a fix for this?
Pretty weird if you ask me

It's also a load of shit. rfreeman_w (one of the Monero contributing developers) and I debugged it and sent exact same fix to Crypto Zoidberg for his review. That was well before (almost an hour) the "Cryptonote" scammers sent out the amazing fix they just happened to have. We also have a slightly different fix that cleans up the code.

If he is honest Zoidberg will confirm this.

EDIT: tacotime also deserves credit for pointing to the tree-hash function based on the transaction count in the poison block used for the attack. It was a great intuition.

[xulescu]

oda.krell is right about the "don't fight FUD with FUD because you shoot yourself in the foot" thing. This approach is counterproductive because it makes people turn against you and what you say, instinctively.

The FUD on this thread is irrelevant anyway, we'll keep copy-pasting standard courteous responses and calling out provable shills. The most important thing we as community can do in crises like this is help information flow INSIDE the community as friction-less as possible. For example, answering noob or "just woke up, what's up" questions with pertinent explanations, or spending some time on IRC explaining things as far as we know and always linking to the most recent official information.

What we do here is, like aminorex keeps hinting, not a zero-sum game. That's the stuff of pumps and dumps. We win if we manage to COOPERATE efficiently (even if we don't trust each other - that's the whole point of the Byzantine Generals problem).

[smooth]

oda.krell is right about the "don't fight FUD with FUD because you shoot yourself in the foot" thing. This approach is counterproductive because it makes people turn against you and what you say, instinctively.

The FUD on this thread is irrelevant anyway, we'll keep copy-pasting standard courteous responses and calling out provable shills. The most important thing we as community can do in crises like this is help information flow INSIDE the community as friction-less as possible. For example, answering noob or "just woke up, what's up" questions with pertinent explanations, or spending some time on IRC explaining things as far as we know and always linking to the most recent official information.

What we do here is, like aminorex keeps hinting, not a zero-sum game. That's the stuff of pumps and dumps. We win if we manage to COOPERATE efficiently (even if we don't trust each other - that's the whole point of the Byzantine Generals problem).

I am anti FUD and I said so (repeatedly). But I'm also not happy when our team does good work and it gets credited to a bunch of lying scammers.