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

[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.

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[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

[smooth]

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

If they want to run their internals in BTC but take external XMR payments they will need a payment processing service with conversion. This will likely come in time but I'm not aware of any such service offered currently.

As they said of course, a separate XMR-denominated site is another option. Demand will dictate which if any service providers do this, so let them know if you want it.

[papa_lazzarou]

I tried this, and it has been saying "pending evaluation for over an hour.  Maybe because this is my first time setting up an EC2 instance?

The price for the spot instances is rising. Perhaps you did not bid high enough?

EDIT:
Maybe we are already competing with ourselves. Please try other types of instances. CPU only.

This is a run down of the prices (usd) as of a while ago for reference.

Code:

Type		Us-west		Us-east		Eu-west		Ap-southeast	Ap-northeast	Sa-east
g2.2xlarge	0.0645-0.0657	0.0653		0.0802		0.0802-0.0889	0.0473-0.0496	-
r3.8xlarge	0.3 – 0.5	0.2675-0.3384	0.3906-0.7		0.3967-0.4186	0.3236-0.3414	-
r3.4xlarge	0.1285		0.1281-0.132	0.161			0.1615-0.1667	0.1831-0.217	-
r3.2xlarge	0.0643		0.0641		0.0801		0.0802-0.0802	0.0813			-
m3.2xlarge	0.0642-0.9001	0.0641-2	0.0811		0.0873		0.4557-3		0.0931-1.224
m3.xlarge	0.0321-1.8	0.0321-0.7	0.0401		0.0402		0.0568-0.6841	0.0574-1.5
cr1.8xlarge	0.37-0.76	0.4-5.25	3.75			-			0.3207-0.3653	-
cc2.8xlarge	0.254		0.2567		0.3205-2.7		-		0.3205		-
c3.8xlarge	0.26-0.286	0.26-9.6	0.3796-2.73	0.3434-0.5326	0.7			0.391
c3.4xlarge	0.1286-0.1451	0.1304-4.8	0.1687		3-4.8			0.1602-0.1879	0.1657
c3.2xlarge	0.069-0.071	0.0642-2.4	0.083			0.0807-0.0956	0.0809		0.0874
cg1.4xlarge	-		2.1		2.36			-			-                      -
m3.large	0.0161		0.0161		0.0201		0.0201		0.0201		0.306
c3.large	0.0161		0.0161		0.0201		0.0161		0.0201		0.0202
c3.xlarge	0.034		0.0323		0.0401		0.0402		0.0401		0.0507
r3.large	0.0161		0.0161		0.0201		0.0202		0.0203		-
r3.xlarge	0.0321		0.0321		0.0401		0.0403		0.0413		-
t1.micro	0.0031		0.0031		0.0031		0.0031		0.0031		0.0031

None of them are profitable except they are because we are helping securing the network.


Any one knows of a way to have a full node start mining automatically upon launch?

[windjc]

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

Feel free to come over and predict BBR prices anytime you wish. BBR has a main thread. We will have a non-technical/mining thread soon, once a few goodies are put neatly in an upcoming basket. You might notice that BBR currently has over 25% of total supply of BBR coins in existence in bids on Poloniex alone. So we might project what the downside risk to upside potential may be But if you would like to confirm our suspicions, feel free.

I am glad we are talking again. It feels nice. There is too much hostility in crypto. And while we can't all support every coin equally, we can be friendly.

[oda.krell]

[snip]

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.

Completely out of context, but that's a good, concise way to put something that I often try to phrase in a good, concise way.

EDIT: otoh, it's my motivation for trading, not just buying - not xmr though. We're in a strictly 'buy only' relationship :D

[amysun]

Is the blockchain still working?
http://monerochain.info/

[smooth]

Is the blockchain still working?
http://monerochain.info/

The blockchain is fine, that site is down. Try chainradar.com or minergate.com

[h3speros]

[snip]

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.

Completely out of context, but that's a good, concise way to put something that I often try to phrase in a good, concise way.

EDIT: otoh, it's my motivation for trading, not just buying - not xmr though. We're in a strictly 'buy only' relationship

great! this is how i think of it also and more on this topic. if person feels that he needs very much money =D, person should go with bigger risk even if he has much money already. but, before you even start to talk about these things it's very important to try to understand where risk comes from and why you need "very much money"? money is a tool to get something done, but what "something" is worth doing?

[Globb0]

Seems I missed the setup of this MEW while I was on holiday.

Sounds interesting.

[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)? 

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.

Any estimate of when we should expect "another statement later"?  Before or after the alleged start time of the attack?

To be clear, I wasn't asking whether the attack might start earlier than claimed, which is obvious, but whether that was the only reason to refrain from any transactions now.

[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.

Any estimate of when we should expect "another statement later"?  Before or after the alleged start time of the attack?

I don't have an estimate at this time

To be clear, I wasn't asking whether the attack might start earlier than claimed, which is obvious, but whether that was the only reason to refrain from any transactions now.

I don't have any information whatsoever about anything unusual happening at this time. As far as I can tell, everything is working perfectly. Hope that helps.

[Bobsurplus]

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

The attack threat will be over in a few hours and by then your XMR will be worth nada. You shoulda stayed true to btc and not started with with monero. Today is gonna be a sad day for your portfolio.

Good luck

[sirsmokesalot]

I think all the people trying to profit each way will wind up with minimal profits from all this.

I agree with this!