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

[jwinterm]

XUC??? WTF is that???

I thought this was XMR... Oh wait.. Its dying.. I get it......

#Stealthcoin for the win.

So instead of choosing to remain ignorant (and I know a lot of people that earn significantly more than 50 BTC a month and similarly choose not to remain ignorant) I clicked on the XUC link. It is a cryptocurrency barwizi is hoping to launch next month to provide a "common" currency between cryptocurrencies. Monero is one of the coins he has selected to participate. Stealthcoin, unfortunately, is not. But I'm sure if you vacate our thread and go back to shilling elsewhere you can beg him to include it. All the best with that, chum, I'm sure your tech advisor can assist you and your 50 BTC a month to beg barwizi for inclusion.

Monero shall be included alongside the veritable likes of Magic Internet Money and Earthcoin. Winning!

Seriously though, I know this is the Monero thread, and I don't mean to feed the trollfolk, but after the nonstop stealthcoin shilling I decided to take a look at their ANN page.

They had a 4 day PoW period, not even four days, and then went completely PoS. At the same time they tout:

Blocks 11-260 award: 16.0 XST each (4 hr low reward for fair launch)

Fair launch my ass. You can't have a fair distribution of coins if your entire PoW period is practically shorter than the time it takes me to eat a stealth doughnut, digest it, and stealthily shit it out (I have a slow digestive system).

There's no functional anonymous sending, only promises to implement it at some later date. The "stealthtext" sending option apparently relies entirely on servers hosted by the coin's creator; such decentralization!

They also mention several times how the coin has proof-of developer because it's been approved by TheCryptoAsian™, standing along other giants of the cryptoworld like: rootcoin, ethancoin, aerocoin, and roscoin. Sorry, but this bullshit sounds more like proof-of-paying-some-guy-named-TheCryptoAsian™ or proof-of-collusion-with-TheCryptoAsian™. What a load of horseshit. I guess I should dump all my bitcoin because Satoshi didn't make the cut with TheCryptoAsian™.

If you guys are gonna shill nonstop, at least find something that's not such a piece of garbage, ffs.

[Bobsurplus]

Bobsurplus is beyond pathetic. Every month or so he choose a new coin to shill for. He used to spam the Darkcoin thread with Cloakcoin advertising, now he comes here to propagate new nonsense. The coins change, but the nonsense he spews follows the same formula.

It was not nonesense. You guys failed RC3, the coin was dying and I just voiced my opinion that drk was a dying coin and on its way out. (Which I was right about)
Hey, just curious... How many more failed RC's have you had since then on your search for masternode anonymity?  
RC5 or 6 I believe.

I'd also like to point out that when I was on the drk thread cloak was trading at around 50K sat maybe up to about 80K sat. It then went to over 350K sat, with 1000+ volume days for weeks.... Lottttts of money was made and lost.

And guess what.....

Stealthcoin is the new Cloak. Deal with it and either make some money or be a whiny little bitch. Just get off my back for calling your drk bagholding ass out back in the day when you guys were all yelling how rc4 was gonna be the best thing since sliced bread.

RC4 was a fail btw!

So like I said, either get with the program and make some money or bugger off.

[Bobsurplus]

XUC??? WTF is that???

I thought this was XMR... Oh wait.. Its dying.. I get it......

#Stealthcoin for the win.

So instead of choosing to remain ignorant (and I know a lot of people that earn significantly more than 50 BTC a month and similarly choose not to remain ignorant) I clicked on the XUC link. It is a cryptocurrency barwizi is hoping to launch next month to provide a "common" currency between cryptocurrencies. Monero is one of the coins he has selected to participate. Stealthcoin, unfortunately, is not. But I'm sure if you vacate our thread and go back to shilling elsewhere you can beg him to include it. All the best with that, chum, I'm sure your tech advisor can assist you and your 50 BTC a month to beg barwizi for inclusion.

Monero shall be included alongside the veritable likes of Magic Internet Money and Earthcoin. Winning!

Seriously though, I know this is the Monero thread, and I don't mean to feed the trollfolk, but after the nonstop stealthcoin shilling I decided to take a look at their ANN page.

They had a 4 day PoW period, not even four days, and then went completely PoS. At the same time they tout:

Blocks 11-260 award: 16.0 XST each (4 hr low reward for fair launch)

Fair launch my ass. You can't have a fair distribution of coins if your entire PoW period is practically shorter than the time it takes me to eat a stealth doughnut, digest it, and stealthily shit it out (I have a slow digestive system).

There's no functional anonymous sending, only promises to implement it at some later date. The "stealthtext" sending option apparently relies entirely on servers hosted by the coin's creator; such decentralization!

They also mention several times how the coin has proof-of developer because it's been approved by TheCryptoAsian™, standing along other giants of the cryptoworld like: rootcoin, ethancoin, aerocoin, and roscoin. Sorry, but this bullshit sounds more like proof-of-paying-some-guy-named-TheCryptoAsian™ or proof-of-collusion-with-TheCryptoAsian™. What a load of horseshit. I guess I should dump all my bitcoin because Satoshi didn't make the cut with TheCryptoAsian™.

If you guys are gonna shill nonstop, at least find something that's not such a piece of garbage, ffs.

You may want to also look into the code vetting done by Dan Metcalf of XC.

[jwinterm]

You may want to also look into the code vetting done by Dan Metcalf of XC.

You mean someone who has released only closed source software that closely mimics the anon-tech of darkcoin, which you clearly find lacking. That's OK I think I'll pass.

[Bobsurplus]

You may want to also look into the code vetting done by Dan Metcalf of XC.

You mean someone who has released only closed source software that closely mimics the anon-tech of darkcoin, which you clearly find lacking. That's OK I think I'll pass.

I bet you would pass.. You would rather go down with the titanic then get out alive... AKA BagHolder!

[fluffypony]

You may want to also look into the code vetting done by <unknown person who is not a cryptographer>.

No thanks. Perhaps you could get some actual cryptanalysis done and then we can talk.

[Bobsurplus]

You may want to also look into the code vetting done by <unknown person who is not a cryptographer>.

No thanks. Perhaps you could get some actual cryptanalysis done and then we can talk.

Listen here XMR dev, I dont need to divulge who my tech guy is. You should be focused on selling your XMR and not chatting here with me.

[generalizethis]

You may want to also look into the code vetting done by <unknown person who is not a cryptographer>.

No thanks. Perhaps you could get some actual cryptanalysis done and then we can talk.

Listen here XMR dev, I dont need to divulge who my tech guy is. You should be focused on selling your XMR and not chatting here with me.

You're doing that for him. I buy every time you post. Enjoying a FUD discount thanks to you. 

[bobo418]

These guys were cheating from the start. Intentionally crippled shit.. Where was this info a week ago?

http://da-data.blogspot.de/2014/08/minting-money-with-monero-and-cpu.html

[jwinterm]

These guys were cheating from the start. Intentionally crippled shit.. Where was this info a week ago?

http://da-data.blogspot.de/2014/08/minting-money-with-monero-and-cpu.html

Umm, that's been posted for more than a month, so I guess it was in the same exact place it is now.

[psterryl]

These guys were cheating from the start. Intentionally crippled shit.. Where was this info a week ago?

http://da-data.blogspot.de/2014/08/minting-money-with-monero-and-cpu.html

I don't know where it was a week ago, but it was talked about in this very thread ~19 days ago. Including bonus comments from the original author of that article, when someone first tried to use it to say the Monero dev's were scammers (hint - they're not):

[5w00p]

Listen here XMR dev, I dont need to divulge who my tech guy is.

[Bobsurplus]

via Imgflip Meme Maker

[iCEBREAKER]

talking about how the devs are losing their motivation, that they dont feel like putting in the extra effort like they used to

PLEASE just give a detailed breakdown of [what] they need, LIKE A REGULAR COMPANY

Before we all started chasing BCX and TFM's shiny new objects, discussion was underway about reaching funding goals.

Since we have some time to kill before the moment of truth, let's get back to that.

A 1% devtax on mined blocks (excluding tx fees) would provide devs with motivation for putting in continuing/extra effort.

In addition to previously listed items, we should consider keeping funds in reserve to pay for bug bounties and network defense (IE VPS rentals to host known good nodes while under attack).

I proposed a "retroactive pre-mine" in the form of a Bootstrap Block containing 1% of all XMR, which is 184,000 coins.

The 184k XMR/$300k it provides seems sufficient to fund the following to at least alpha testing:

$100k - refactor codebase
$50k - security audits
$50k - integrate DB
$25k - complete I2P
$25k - Official Wallet
$15k - bug bounties
$15k - p2pool
$15k - trustless web wallet
$5k - network defense fund

Are these numbers too high, low, or just about right?

[psterryl]

Fixed that for you.

For some background info on just how upstanding a character Bobsurplus is, I'd recommend this thread: https://bitcointalk.org/index.php?topic=730880.0

BTW how long were you banned for again?

[Bobsurplus]

talking about how the devs are losing their motivation, that they dont feel like putting in the extra effort like they used to

PLEASE just give a detailed breakdown of [what] they need, LIKE A REGULAR COMPANY

Before we all started chasing BCX and TFM's shiny new objects, discussion was underway about reaching funding goals.

Since we have some time to kill before the moment of truth, let's get back to that.

A 1% devtax on mined blocks (excluding tx fees) would provide devs with motivation for putting in continuing/extra effort.

In addition to previously listed items, we should consider keeping funds in reserve to pay for bug bounties and network defense (IE VPS rentals to host known good nodes while under attack).

I proposed a "retroactive pre-mine" in the form of a Bootstrap Block containing 1% of all XMR, which is 184,000 coins.

The 184k XMR/$300k it provides seems sufficient to fund the following to at least alpha testing:

$100k - refactor codebase
$50k - security audits
$50k - integrate DB
$25k - complete I2P
$25k - Official Wallet
$15k - bug bounties
$15k - p2pool
$15k - trustless web wallet
$5k - network defense fund

Are these numbers too high, low, or just about right?

LOL, on the eve before the eve of your destruction you're looking to raise 300K from the community that you and your dev team clearly said are not investors...

You cant have it both ways kiddo!!

This song reminds me of whats coming up for you guys...

https://www.youtube.com/watch?v=ntLsElbW9Xo

[Bobsurplus]

Fixed that for you.

For some background info on just how upstanding a character Bobsurplus is, I'd recommend this thread: https://bitcointalk.org/index.php?topic=730880.0

BTW how long were you banned for again?

Have you even read that thread?

Dont you see.... my members make money... we leave coins better off and everyone is happy. What's your problem??

[smooth]

talking about how the devs are losing their motivation, that they dont feel like putting in the extra effort like they used to

PLEASE just give a detailed breakdown of [what] they need, LIKE A REGULAR COMPANY

Before we all started chasing BCX and TFM's shiny new objects, discussion was underway about reaching funding goals.

Since we have some time to kill before the moment of truth, let's get back to that.

A 1% devtax on mined blocks (excluding tx fees) would provide devs with motivation for putting in continuing/extra effort.

In addition to previously listed items, we should consider keeping funds in reserve to pay for bug bounties and network defense (IE VPS rentals to host known good nodes while under attack).

I proposed a "retroactive pre-mine" in the form of a Bootstrap Block containing 1% of all XMR, which is 184,000 coins.

The 184k XMR/$300k it provides seems sufficient to fund the following to at least alpha testing:

$100k - refactor codebase
$50k - security audits
$50k - integrate DB
$25k - complete I2P
$25k - Official Wallet
$15k - bug bounties
$15k - p2pool
$15k - trustless web wallet
$5k - network defense fund

Are these numbers too high, low, or just about right?

I'll share some of my personal thoughts. The core team has not really addressed this as a group.

DB seems a bit high if it doesn't include work already done (although some of that has been paid for out-of-pocket by the core team and should ultimately be repaid out of the dev budget).
p2pool seems low especially given ongoing development. (This is not a modification of the existing p2pool, which is largely unmaintainable, but a new solution based on some of the same concepts.)
$5K "network defense fund" might well be small if the attackers are better funded than that or multiple attacks occur, both of which are entirely plausible.
Other needs will undoubtedly appear, beyond a low level of ongoing maintenance that can be paid out of 1% of block rewards, at least at current prices.

In genreal I would suggest that if we are going to do this, that we just go ahead and make the "post-sale" bigger, provide for a larger fund that can be used on a more ongoing basis to hire expert developers and generally ensure that the project is adequately funded going forward. As a benchmark, how much funding did VIA raise? Funds that turn out not to be needed can be returned to the community in some manner tbd.

MEW is also working on a funding model based on memership fees and dev donations, so that should be factored into it. MEW is being launched Tuesday, according to the recent post, so more information should be available then.

Of course with more funds in an account intended for longer-term use there is more responsibility to ensure it isn't wasted or stolen so issues like oversight (as we previously discussed a bit) come to the fore.

Thanks for keeping going with this, and especially not being too distracted by attempts to distract us.

[infofront]

talking about how the devs are losing their motivation, that they dont feel like putting in the extra effort like they used to

PLEASE just give a detailed breakdown of [what] they need, LIKE A REGULAR COMPANY

Before we all started chasing BCX and TFM's shiny new objects, discussion was underway about reaching funding goals.

Since we have some time to kill before the moment of truth, let's get back to that.

A 1% devtax on mined blocks (excluding tx fees) would provide devs with motivation for putting in continuing/extra effort.

In addition to previously listed items, we should consider keeping funds in reserve to pay for bug bounties and network defense (IE VPS rentals to host known good nodes while under attack).

I proposed a "retroactive pre-mine" in the form of a Bootstrap Block containing 1% of all XMR, which is 184,000 coins.

The 184k XMR/$300k it provides seems sufficient to fund the following to at least alpha testing:

$100k - refactor codebase
$50k - security audits
$50k - integrate DB
$25k - complete I2P
$25k - Official Wallet
$15k - bug bounties
$15k - p2pool
$15k - trustless web wallet
$5k - network defense fund

Are these numbers too high, low, or just about right?

I'm not opposed to a plan like that, but I believe the emission rate should be slowed if we do that, both to combat inflation and keep the mining end date roughly the same, if not extended out even further.

[psterryl]

Have you even read that thread?

Dont you see.... my members make money... we leave coins better off and everyone is happy. What's your problem??

You. You are my problem. You and your unrelenting attack on Monero and Monero developers/supporters. You and your shilling for your latest pump-of-the-day (stealthcoin in this case). Your very presence in this thread is my problem.

I could ask you the same thing. What's your problem with Monero? You obviously don't own any and you've made it clear that you (or rather your "tech advisor" that we all supposedly look up to) think everyone is going to lose everything in 2 days time, so I don't see what purpose your continued posting here serves.