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

[smooth]

And yes u have smooth.  Pools are an inherant weakness ... esp to cpu coins ... they need to be eliminated for all coins for security reasons Imo fwiw

Concepts are under development. Of course it won't help with the immediate threat, but with every attack you become stronger.

[robinwilliams]

And yes u have smooth.  Pools are an inherant weakness ... esp to cpu coins ... they need to be eliminated for all coins for security reasons Imo fwiw

Concepts are under development. Of course it won't help with the immediate threat, but with every attack you become stronger.

Securing hash and pools might be a better resources spent for mew than trying to keep the price from crashing like they've been doing.

You can tell em I said so :p

[smooth]

And yes u have smooth.  Pools are an inherant weakness ... esp to cpu coins ... they need to be eliminated for all coins for security reasons Imo fwiw

Concepts are under development. Of course it won't help with the immediate threat, but with every attack you become stronger.

Securing hash and pools might be a better resources spent for mew than trying to keep the price from crashing like they've been doing.

You can tell em I said so :p

Some pool operators are part of MEW I think and they are doing everything they can to secure their pools. Other MEW participants are not technical or in any position to do anything at all with respect to pools. As far as their trading activity I have no knowledge of it or particular interest in it so I can't comment. I will say that I have bought a few coins myself, but it wasn't to prop the price up, just because I think we will eventually come out stronger, so I'm speculating.

[robinwilliams]

Well u guys are responding more/better than I thought u would ... I might buy if it goes low...good to see things in an aspiring coin becoming stronger not weaker with adversities.   

I'm still throwing my whale party and buying popcorn tonight tho

[smfuser]

Other than mining (preferably solo) and running bitmonerod, is there anything else that regular Monero users can do in the immediate future to help defend against the expected attack tomorrow, or allow faster repair of the damage if any?

Rpietila said earlier today that the developers were already "implementing fixes".  Should we expect a new release before the claimed attack time?

I assume backing up the blockchain now may save time in case another recovery from a fork is required?

Might the quantity and nature (e.g., mix level) of transactions in the near future have any relevance?

[robinwilliams]

I was talking about smooth response.  Admitting the points of failure and how it deserved to go down if three points of failure (pools) was all it took under threat from bcx...He aknowled the weaknesses.

Risto is just buying at 310 what should be priced at 210 and saying shetoric.  And u r just some dumb fanboy who is working at walmart ...

[aminorex]

I was talking about smooth response.  Admitting the points of failure and how it deserved to go down if three points of failure (pools) was all it took under threat from bcx...He aknowled the weaknesses.

Risto is just buying at 310 what should be priced at 210 and saying shetoric.  And u r just some dumb fanboy who is working at walmart ...

Have you seen any evidence of Risto buying the past day or so?  I haven't.  Usually I do.  Personally, I think he's too risk averse to buy right here now.  I know he has repriced his options.  If you think it should be at 210, maybe you should buy some of his super-cheap puts - you would make a bundle.  If not I can only infer that you are talking smack.  Not that there's anything wrong with that.  I do it myself sometimes.  I generally regret it later, however.

I on the otherhand have been buying, and will continue to buy.  Not because I'm more clever, but because I have to have more risk tolerance than Risto needs to have.

[smooth]

Other than mining (preferably solo) and running bitmonerod, is there anything else that regular Monero users can do in the immediate future to help defend against the expected attack tomorrow, or allow faster repair of the damage if any?

If there is evidence of an attack or even when an attack seems likely the best thing to do is simply not engage in transactions. The old part of the blockchain will be fine regardless.

We don't find credible the claim of an attack against private keys (see mathematical analysis posted here). Of course we could be wrong, but we will cross that bridge if and when we come to it. No one can guarantee zero risk, but we believe this risk is very low.

You don't need to personally back up your blockchain, if there is an kind of attack against it there will be an update that will recover it just as there was with the last attack, which was likely far more sophisticated in terms of technical knowledge required than anything BCX has in mind, but that is just my guess. It can't hurt though.

Don't panic (ever). Wait for further updates.

[Nekomata]

XMR is the future.

[ZPserge]

I was talking about smooth response.  Admitting the points of failure and how it deserved to go down if three points of failure (pools) was all it took under threat from bcx...He aknowled the weaknesses.

Risto is just buying at 310 what should be priced at 210 and saying shetoric.  And u r just some dumb fanboy who is working at walmart ...

if you see the price of 210 let me know - I'll buy all my money

[Oscilson]

I was talking about smooth response.  Admitting the points of failure and how it deserved to go down if three points of failure (pools) was all it took under threat from bcx...He aknowled the weaknesses.

Risto is just buying at 310 what should be priced at 210 and saying shetoric.  And u r just some dumb fanboy who is working at walmart ...

if you see the price of 210 let me know - I'll buy all my money

You can just insert a buy order at 210. That is much easier.

[windjc]

Other than mining (preferably solo) and running bitmonerod, is there anything else that regular Monero users can do in the immediate future to help defend against the expected attack tomorrow, or allow faster repair of the damage if any?

If there is evidence of an attack or even when an attack seems likely the best thing to do is simply not engage in transactions. The old part of the blockchain will be fine regardless.

We don't find credible the claim of an attack against private keys (see mathematical analysis posted here). Of course we could be wrong, but we will cross that bridge if and when we come to it. No one can guarantee zero risk, but we believe this risk is very low.

You don't need to personally back up your blockchain, if there is an kind of attack against it there will be an update that will recover it just as there was with the last attack, which was likely far more sophisticated in terms of technical knowledge required than anything BCX has in mind, but that is just my guess. It can't hurt though.

Don't panic (ever). Wait for further updates.

Hmmm. I love popcorn.

Seriously though, I wish you guys well. I think this will be much ado about nothing.

Although, I expect the price to have a sudden spike back to around .004 and then probably come back to where it is now again in a few days. I think all the people trying to profit each way will wind up with minimal profits from all this.

[Oscilson]

Seriously though, I wish you guys well. I think this will be much ado about nothing.

Although, I expect the price to have a sudden spike back to around .004 and then probably come back to where it is now again in a few days. I think all the people trying to profit each way will wind up with minimal profits from all this.

If XMR survives in the next few days, it could go to 0.005 or even higher as the dev are tested, and proven to be able to face challenges.

[samaricanin]

It's not doomsday, just FUD 

[novag]

Need good win Wallet!

[windjc]

Seriously though, I wish you guys well. I think this will be much ado about nothing.

Although, I expect the price to have a sudden spike back to around .004 and then probably come back to where it is now again in a few days. I think all the people trying to profit each way will wind up with minimal profits from all this.

If XMR survives in the next few days, it could go to 0.005 or even higher as the dev are tested, and proven to be able to face challenges.

I doubt it. Probably get a little spike from people trying to front run, then they'll sell off slowly as they realize nothing really happened. It might get around .0035 for a while, but it was pretty much headed to .003 when all this happened anyway.

The devs aren't any different than they were a few days ago. Unless you have some new devs I haven't heard about?

[generalizethis]

So here's an exchange between myself and a betting site:

-------------------------
With all the conjecture about FBI surveillance of BTC, would you guys ever consider offering bets in XMR? The Devs are discussing a plan to gain additional funding on Bitcointalk and gambling seems like a natural fit.
-------------------------


Hey xxxxxx,

Sorry about the delay, no one on our team could answer this so they left it for me.

Correct me if I'm wrong, but I believe XMR price is is not pegged to BTC. Assuming it isn't, the issue with accepting any alt or other cryptocurrency solution is that it segregates our betting volumes. For example, if you're a heavy BTC guy, you will want BTC back, not XMR. Likewise, you'll want to know that this bet pot has a pot of 5 BTC today, and will have a pot of 5 or more BTC tomorrow. If we allow bets in XMR, then the pot value will fluctuate and as a BTC holder you may feel it is too risky to bet within it if you're unsure about the XMR price. Eg: You'll want your 2.2x payout, but will actually receive 2.05x if the price of XMR drops heavily within the 3 months the bet goes on for.

I may be wrong (haven't looked that much into Monero) with how it operates, but that's our issue with accepting anything that has a smaller market.

If we hear more demand for it, we can easily do something like xmr.betmoose.com or betmoose.com/xmr and have an xmr-only section. Our exchange is quite flexible in that way. Link to the devs discussing that plan?

Best,
xxxxxx
-----------------------

Seems a fair hold-off point. Is there a market solution?

[smfuser]

Other than mining (preferably solo) and running bitmonerod, is there anything else that regular Monero users can do in the immediate future to help defend against the expected attack tomorrow, or allow faster repair of the damage if any?

If there is evidence of an attack or even when an attack seems likely the best thing to do is simply not engage in transactions. The old part of the blockchain will be fine regardless.

We don't find credible the claim of an attack against private keys (see mathematical analysis posted here). Of course we could be wrong, but we will cross that bridge if and when we come to it. No one can guarantee zero risk, but we believe this risk is very low.

You don't need to personally back up your blockchain, if there is an kind of attack against it there will be an update that will recover it just as there was with the last attack, which was likely far more sophisticated in terms of technical knowledge required than anything BCX has in mind, but that is just my guess. It can't hurt though.

Don't panic (ever). Wait for further updates.

Thanks, are you recommending to refrain from any transactions even now, many hours before the alleged start time of the attack (or is there a time later today after which we should hold off)?  Is that only because the attack might start earlier than promised?

Specifically, would you advise not withdrawing recently purchased XMR from an exchange to a private wallet?  Normally I prefer to withdraw quickly to reduce exchange risk, but under the current circumstances, would withdrawing create greater risk?

Anonymint recently claimed XMR might be subject to theft if it was previously mixed.  Although I understand such theft may be unlikely, is there any way to reduce that risk for XMR previously withdrawn from an exchange (so the prior history is unknown but may include a mix)?

I mentioned backing up the blockchain because I thought some people needed to download the blockchain again after the recent fork, but I may have misunderstood.

[smooth]

Other than mining (preferably solo) and running bitmonerod, is there anything else that regular Monero users can do in the immediate future to help defend against the expected attack tomorrow, or allow faster repair of the damage if any?

If there is evidence of an attack or even when an attack seems likely the best thing to do is simply not engage in transactions. The old part of the blockchain will be fine regardless.

We don't find credible the claim of an attack against private keys (see mathematical analysis posted here). Of course we could be wrong, but we will cross that bridge if and when we come to it. No one can guarantee zero risk, but we believe this risk is very low.

You don't need to personally back up your blockchain, if there is an kind of attack against it there will be an update that will recover it just as there was with the last attack, which was likely far more sophisticated in terms of technical knowledge required than anything BCX has in mind, but that is just my guess. It can't hurt though.

Don't panic (ever). Wait for further updates.

Thanks, are you recommending to refrain from any transactions even now, many hours before the alleged start time of the attack (or is there a time later today after which we should hold off)? 

I have not made any specific recommendation other than what I said above, please use your best judgement. We will have another statement later.

Is that only because the attack might start earlier than promised?

Of course it could.

Specifically, would you advise not withdrawing recently purchased XMR from an exchange to a private wallet?  Normally I prefer to withdraw quickly to reduce exchange risk, but under the current circumstances, would withdrawing create greater risk?

See above please.

Anonymint recently claimed XMR might be subject to theft if it was previously mixed.  Although I understand such theft may be unlikely, is there any way to reduce that risk for XMR previously withdrawn from an exchange (so the prior history is unknown but may include a mix)?

Our mathematical analysis suggest that his suggested attack is implausible. I think he largely agreed in his last posts on the matter. As I said, we can't guarantee zero risk, but have zero knowledge of a credible threat against private keys (other than your own storage of them).

I mentioned backing up the blockchain because I thought some people needed to download the blockchain again after the recent fork, but I may have misunderstood.

Only very few did, but I did edit my reply above to suggest that backing up is not a bad idea in any case.

[rpietila]

I doubt it. Probably get a little spike from people trying to front run, then they'll sell off slowly as they realize nothing really happened. It might get around .0035 for a while, but it was pretty much headed to .003 when all this happened anyway.

The devs aren't any different than they were a few days ago. Unless you have some new devs I haven't heard about?

There are a host of new people, in MEW and outside, who are contributing to XMR development now. This development boost will definitely not end when this attack threat is over. I am very grateful to this work, mostly donated by members of community that believe standing up to outside threat is not only somebody's duty but that of their own. In decentralized development there are no somebodies. Everyone can contribute and the number of volunteering requests sent has been much more than what we have been able to centrally organize. Therefore people have developed this kind of initiatives (I will add link soon) all by themselves.

As for the market, it may do whatever. I have probably been following it more closely than you, and it seemed to me that it was just about to explode to the upside after making a triple bottom in 370, or especially after the capitulation in 340. When it was resolved to go up, came the "trollbox ultimatum" with known consequences to the price. After combining many trend models, the price should imo be in the 360-400 range now with a strong upward trend. Judging from the fundamentals, much higher.

Congratulations for nomination to be a Boolberry executive! I have also become an executive in MEW. It is important for the lurkers to know where we stand and why I suddenly care to answer to your messages that I have previously ignored due to our personal issues.

Please tell me, which of the Boolberry threads needs my introduction and predictions of the BBR price trends? I am happy to make a counter-visit