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

[superresistant]

Why oh why do people hold coins on an exchange?
How many GoxPals will it take before hard lessons endured by others are learned by the masses?

I held coins on an exchange because monero is a bitch to store offline and I hadn't got around to messing with simplewallet, since I was repeatedly led to believe a GUI was right around the corner that could restore easily from mnemonic seed.
I was fully expecting to get scammed eventually though, thus didnt have all my XMR on any one exchange. My expectations were met..
If you had asked me in June if I expected to still have any XMR on an exchange in October, I would have said no, I'm sure there would be a noob friendly method of storage by then, although I obviously should have just bitten the bullet and opened simple wallet as I have right now, synching the blockchain.
Lesson learned: investing in speculative technology isn't worth trusting a third party.

You could divide your stack between various exchanges.

BTW, if someone want me to store coins on a Linux computer, you can ask me.
I'll ask 1% as fees (min 10 XMR).

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[simmo77]

The Windows 64bit blockchain.bin  ( http://monero.cc/downloads/blockchain/win/blockchain.bin )  is 44 days old, so much for "always updated and current"...

[NeuroticFish]

The Windows 64bit blockchain.bin  ( http://monero.cc/downloads/blockchain/win/blockchain.bin )  is 44 days old, so much for "always updated and current"...

My hope is that they plan to bring to life the new type of blockchain quite soon.
Maybe that's the reason?

[florida.haunted]

Excellent Monero missive & weekly job, devs!

3. Excellent progress has been made with an initial blockchain database implementation. The first implementation is using the Lightning Memory-Mapped Database, or LMDB, which is the same high-performance database used by OpenLDAP. We are hopeful that this initial release will be ready for limited testing by next week. You can read more about LMDB here: http://symas.com/mdb/ (it would appear they're in a competition with us for the best looking website of 1995). We are quite confident that this will be the most performant embedded database option for our workloads, but we will be adding additional implementations and comparing their performance going forward.

I am very glad you've selected LMDB because I was studying this db for some my projects and found it's perfect and conceptually right. Also this is right in light of future total 64-bit virtual address space replacement for 32-bit one. Really, mmap & forget! For example, enterprise users can easily upgrade computer's RAM up to 32-64GB to achieve nearly RAM-speed performance for their Monero blockchains. As we know, RAM upgrade is quite cheap novadays.

Also I hope you will use compression inside of LMDB to reduce HDD usage for monero blockchain.

Best wishes and till next week!

[novag]

When will a normal wallet?

[smooth]

When will a normal wallet?

Three months ago.

https://bitcointalk.org/index.php?topic=683365.0

[Febo]

Fuck it.

WTS my Mintpal account with 5000 XMR in it.

Feel free to PM me offers.

Why oh why do people hold coins on an exchange?

How many GoxPals will it take before hard lessons endured by others are learned by the masses?

I've heard urban legends that the masses hold coins on an exchange to perform something called "trading". Their utter stupidity is mind-blowing.

Thing is unless you have offers on exchange, you will never sell them at ATH or buy them as cheap as possible. I understand this as most fun if you are some sort of crypto trader. That you can one day say. Well i bought XMR at 0.0017 BTC back in June 2014.  If you would just bring btc to exchange and buy xmr and widhraw you could never achieve this.


About safety. i was also scared first days, but then i looked at it like this. how many people know of XMR? I am sure there are lots of troyans made to steal your bitcoins, but hardly any for XMR. I am sure with time this will change. And this dont mean you dont have to be cautious. But this thought helped me a bit with early paranoia

[papa_lazzarou]

I held coins on an exchange because monero is a bitch to store offline and I hadn't got around to messing with simplewallet, since I was repeatedly led to believe a GUI was right around the corner that could restore easily from mnemonic seed.

I was fully expecting to get scammed eventually though, thus didnt have all my XMR on any one exchange. My expectations were met..

If you had asked me in June if I expected to still have any XMR on an exchange in October, I would have said no, I'm sure there would be a noob friendly method of storage by then, although I obviously should have just bitten the bullet and opened simple wallet as I have right now, synching the blockchain.

Lesson learned: investing in speculative technology isn't worth trusting a third party.

Hey man, what happened to you (and others) sucks big time. We all agree with that.
(Hell, if it had happened to me to loose that amount it would end my foray in crytpoland for the foreseeable future)

But now you are just FUDing.

Creating an offline wallet is as simple as (writing this from memory so someone correct me if I'm wrong):

- run simplewallet
- give it a name as prompted
- give it a password as prompted

 Voilà, your wallet is created. Now do this:

- write down the mnemonic seed words.
- save your adresses file (so that you can refer to your address)

That's it, really. You don't need to sync and you don't even need to run the daemon to create a wallet.

[meshekk]

http://pool.cryptoescrow.eu/ fuck this pool Total Scam.

Dont mine there because you will not receive any money.

I dont trust XMR annonimity either.

[popolite11]

http://pool.cryptoescrow.eu/ fuck this pool Total Scam.

Dont mine there because you will not receive any money.

I dont trust XMR annonimity either.

what happen to you have you not able to receive any payment ?

[NeuroticFish]

hi can j have some coins here my wallet : 47sghzufGhJJDQEbScMCwVBimTuq6L5JiRixD8VeGbpjCTA12noXmi4ZyBZLc99e66NtnKff34fHsGR oyZk3ES1s1V4QVcB  and here my payment id :922bde42df79841f1613ef6b077dee7c5ffcfe67ae6c8693c5537189896887ca

"Please send some money to my Poloniex account". Why?

[5w00p]

Big fat whatever.

It takes five minutes to move 1 to 100,000 Monero from wallet to exchange.

It is your coin, not mine. I couldn't care less.

Excuses are like buttholes, everyone has one and they all smell like shit.

[statdude]

I held coins on an exchange because monero is a bitch to store offline and I hadn't got around to messing with simplewallet, since I was repeatedly led to believe a GUI was right around the corner that could restore easily from mnemonic seed.

I was fully expecting to get scammed eventually though, thus didnt have all my XMR on any one exchange. My expectations were met..

If you had asked me in June if I expected to still have any XMR on an exchange in October, I would have said no, I'm sure there would be a noob friendly method of storage by then, although I obviously should have just bitten the bullet and opened simple wallet as I have right now, synching the blockchain.

Lesson learned: investing in speculative technology isn't worth trusting a third party.

Hey man, what happened to you (and others) sucks big time. We all agree with that.
(Hell, if it had happened to me to loose that amount it would end my foray in crytpoland for the foreseeable future)

But now you are just FUDing.

Creating an offline wallet is as simple as (writing this from memory so someone correct me if I'm wrong):

- run simplewallet
- give it a name as prompted
- give it a password as prompted

 Voilà, your wallet is created. Now do this:

- write down the mnemonic seed words.
- save your adresses file (so that you can refer to your address)

That's it, really. You don't need to sync and you don't even need to run the daemon to create a wallet.

I am not FUDing     It might be as obvious as "dumpprivkey" is in QT is to me now to some people, but it's still a learning process. Anyways thanks for providing the tip to the community.

[EFS]

I am not FUDing     It might be as obvious as "dumpprivkey" is in QT is to me now to some people, but it's still a learning process. Anyways thanks for providing the tip to the community.

I feel you. It looked very complicated to me at first, too. I've never seen an easy Monero wallet guide for newbies. I don't blame anybody, but this is one of the reasons why people hesitate to use Monero.

[statdude]

There are two GUIs available, and XMR is easy to store offline even with the CLI.  You just copy your address from wallet.bin.address and paste it into the withdrawal field on the exchange.  Then you put your wallet.bin.keys file on a couple of high quality USBs and that's it.  Oh, and remember your password.

I have issues with the existing GUI, but I agree backing it up via CLI is not that difficult, I now realize. Realized it too late.

Anyways, I fully expected to get Goxxed, I was pretty paranoid every day, so I knew better. Don't feel bad for me.

[aminorex]

[Anyways, I fully expected to get Goxxed, I was pretty paranoid every day, so I knew better. Don't feel bad for me.

Shrewdness is practically useful and personally important, but shrewdness should not be required or expected.  I don't feel bad for you so much as I do for us.  Eradicating defectors is crucial to the development of the economy, the extension of usability to naive actors.  This can be done without violence only (to my knowledge) by development of easy-to-use software which provides strong cryptographic support for high-security operation in the dominant and default use-cases.  If the community prominently labels vulnerabilities in the economic network, it will help to prevent naive users from being exploited.

[krawallmining]

It's not a good time to sell for a long period now, why one should hold to their coins at a safe place (deterministic seed).
Monero is very easy to use per CLI, but I agree and understand that CLI keeps many people away.

The official homepage should be much more comprehensive and more up to date. There's not even a link to the official forum, as far as I can see. Neither to Monero Research Lab.
And the linked blockchain is terribly outdated. Maybe you should extend the crew with someone who keeps care of such things.

[smooth]

The Windows 64bit blockchain.bin  ( http://monero.cc/downloads/blockchain/win/blockchain.bin )  is 44 days old, so much for "always updated and current"...

My hope is that they plan to bring to life the new type of blockchain quite soon.
Maybe that's the reason?

There are two reasons. One is that we froze the blockchain download after the first attack to maintain a constant verifiable hash. The second is the new self-verifying download format you mention being almost done.

For now you if you download the file you will need to sync up 1-2 months of blocks using the normal mechanism.

[aminorex]

For the attention of the core team:  erights.org

[RentaMouse]

I am not FUDing     It might be as obvious as "dumpprivkey" is in QT is to me now to some people, but it's still a learning process. Anyways thanks for providing the tip to the community.

I feel you. It looked very complicated to me at first, too. I've never seen an easy Monero wallet guide for newbies. I don't blame anybody, but this is one of the reasons why people hesitate to use Monero.

I wrote a user guide for the MoneroClient.net GUI https://bitcointalk.org/index.php?topic=683365.0 wallet a few months ago, its a bit out of date now but noone's complained that it is too complicated

My more general "Idiot's Guide to Monero" is still a work in progress, I have to summon the strength to deconstruct ring signatures etc into language the average user can understand, without incurring the censure of gmaxwell for misrepresenting basic principles.