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

[fluffypony]

I've spent probably 40+ hours obsessively reading hundreds of pages regarding XMR here on bitcointalk.org in addition to every thread on reddit, every thread on monero.cc forum, the CryptoNote white paper, nearly all of fluffypony, Risto Pietila, and others' posts. I've compiled and ran Monero. I am not an XMR or cryptocurrency expert, but my conclusions about XMR are as follows:
I will correct and update this list as necessary. Thank you for reading.

A couple of corrections, if you will. Firstly, Risto has definitely invested a lot of time, money, and energy in Monero and related services. However, at this stage the funding is heavily skewed. At this stage our donations (including those from Risto) cover about 18% of our costs, the remaining 82% are covered by the core team. So I'd say that Monero is "mainly funded" (to the tune of 80+%) by the Monero Core Team.

I agree with most of your points, except that I do think that we're at a stage where we understand the code significantly more than before. When we took over the codebase there were 68 518 lines of code. We've since added 63 790 lines, so I think it's safe to say that we've done a significant level of work and acquired a deep understanding of the code.

[rpietila]

A couple of corrections, if you will. Firstly, Risto has definitely invested a lot of time, money, and energy in Monero and related services.

For Monero to have a chance of real success (which I don't see that other altcoins have), it must also beat them (and hopefully Bitcoin) in the functionality of distribution.

There has been many opportunities to acquire an inordinate stake in Monero in the last 2 months. Some people would have liked me to do it, others have sold because of fear of that happening.

But Monero is a true community coin, which means that there is a large group of large and midsize owners, and (to my knowledge) no extra-large ones. My position is <5% of coins and it is financially not a significant part of my assets. This is the case with the other large owners also that I know.

I have moved from speculation to building the economy around Monero, and mymonero and CryptoKingdom are examples of it. The MEW will have other initiatives also.

[smooth]

However, at this stage the funding is heavily skewed. At this stage our donations (including those from Risto) cover about 18% of our costs, the remaining 82% are covered by the core team. So I'd say that Monero is "mainly funded" (to the tune of 80+%) by the Monero Core Team.

This doesn't even include the time that core team members have devoted to the project entirely on an unpaid basis, so in that sense you can say the actual number is much higher than 80%.

[jehst]

Several corrections have been made. Thank you. I am, by the way, a holder and supporter of XMR. This is just some information I am gathering.

[rpietila]

Several corrections have been made. Thank you. I am, by the way, a holder and supporter of XMR. This is just some information I am gathering.

Yes, I also did not buy before researching it thoroughly. And it's the only altcoin I have (ever had).

[akula999]

Hi Guys! So I have setup my Monero Pool. I'm the only one mining it with around 4KH/s right now. Everything seems to working fine except for the automatic payout. Anyone know what values I need to put in the config file to make it payout at .50 Monero's ? I've tried different option but it's not working out.
Can anyone help?

[papa_lazzarou]

Hi Guys! So I have setup my Monero Pool. I'm the only one mining it with around 4KH/s right now. Everything seems to working fine except for the automatic payout. Anyone know what values I need to put in the config file to make it payout at .50 Monero's ? I've tried different option but it's not working out.
Can anyone help?

Have you tried asking on irc? #monero-pools on freenode. The guys are really helpful.

[liteon]

Hi Guys! So I have setup my Monero Pool. I'm the only one mining it with around 4KH/s right now. Everything seems to working fine except for the automatic payout. Anyone know what values I need to put in the config file to make it payout at .50 Monero's ? I've tried different option but it's not working out.
Can anyone help?

Can you be more specific?
What is your current config?

[akula999]

Hi Guys! So I have setup my Monero Pool. I'm the only one mining it with around 4KH/s right now. Everything seems to working fine except for the automatic payout. Anyone know what values I need to put in the config file to make it payout at .50 Monero's ? I've tried different option but it's not working out.
Can anyone help?

Can you be more specific?
What is your current config?

It's in the config.json file.
I have 3 options which i'm unsure what they are exactly:
transferfee: 50000000
minPayment: 100000000
denomination: 100000000

Those above are default values. What should they be?

[MoneroMooo]

It's in the config.json file.
I have 3 options which i'm unsure what they are exactly:
transferfee: 50000000
minPayment: 100000000
denomination: 100000000

Those above are default values. What should they be?

Half a monero is 500000000000. You'll want that for minPayment. Either set denomination to the same, or to 100000000000 (0.1 monero).

For the transfer fee, I am not sure. If you have the fixed 0.1 version it'd be 100000000000 but if you have the per kB fee version I think (but I'm not certain) it'd be ignored.

[Febo]

- Devs were not part of the original CrypoNote team and are admittedly not as familiar with the codebase as the devs of other CryptoNote coins. They therefore experience challenges improving the codebase and making it maintainable.

I don't think that this is still the case. Of course it takes a great amount of time to make the codebase better but thats not really the lack of understanding it anymore, it's just because its a lot of work.

Only Bytecoin is coin that was found from original CryptoNote team (they made few months ago another coin, that is just academic and not tradable). Altho are speculations they made also other coins.

[jehst]

- Devs were not part of the original CrypoNote team and are admittedly not as familiar with the codebase as the devs of other CryptoNote coins. They therefore experience challenges improving the codebase and making it maintainable.

I don't think that this is still the case. Of course it takes a great amount of time to make the codebase better but thats not really the lack of understanding it anymore, it's just because its a lot of work.

Only Bytecoin is coin that was found from original CryptoNote team (they made few months ago another coin, that is just academic and not tradable). Altho are speculations they made also other coins.

It's not really speculation. Most of the CryptoNote coins have contact info using the same strange e-mail host. They also use  some strange, similar web design notes. Too many coincidences. But yes, there is a chance they are  not the same people.

[osensei]

Hi Guys! So I have setup my Monero Pool. I'm the only one mining it with around 4KH/s right now. Everything seems to working fine except for the automatic payout. Anyone know what values I need to put in the config file to make it payout at .50 Monero's ? I've tried different option but it's not working out.
Can anyone help?

Can you be more specific?
What is your current config?

It's in the config.json file.
I have 3 options which i'm unsure what they are exactly:
transferfee: 50000000
minPayment: 100000000
denomination: 100000000

Those above are default values. What should they be?

Ideally you should be running a version of the daemon which includes per-kb fees (this was merged into master on Nov. 7). I'm not sure whether the transferFee value is ignored or not, but in any case, a safe bet would be to set it to 10000000000 (0.01 XMR). For a payout at 0.5 XMR you should use these settings:

        "transferFee":   10000000000,
        "minPayment":   500000000000,
        "denomination": 100000000000

If you are still having troubles, look into logs/payments_error.log for relevant info. If you still need some help, please post your config.json to http://pastebin.com/ or a similar site (obfuscating any sensible data) , so we can help you better.

[David Latapie]

This is a nice summary, that could form the basis of a sorely needed FAQ.

Added to the sorely-needed FAQ Particularly to the most read entry, "Why Monero matters?/Prove me that Monero is not yet-another-shitcoin"

I also created a shortlink: http://bit.ly/why-monero

I am similarly confused about crypto kingdom.

Duly noted, I'll try to setup a FAQ but I'd like it to be filled with actual questions, not questions I make up. Care to start with questions?

[bigj]

I am similarly confused about crypto kingdom.

Duly noted, I'll try to setup a FAQ but I'd like it to be filled with actual questions, not questions I make up. Care to start with questions?

Some 101 questions:

1. What is CryptoKingdom? Is there any relation to some ancient game?
2. What's the user-interface?
3. What's the content of the game?
4. How do I play the game? It's a multiplayer game, right?
5. How are Moneroj and gameplay linked? Can I play the game without (having) XMR?
6. Who is behind the game? Company? Group of players? Investor(s)?
7. What's the license of the game?
8. Why should I be interested in playing this particular game?
9. Is there some website (or so) set up for the game?
10. What's the overall goal? Will the game be updated over time? Can I win something?
11. Why the name 'CryptoKingdom'?
12. Are there any score lists online? Can achievements or missions or equipment be shared/traded/lost/damaged/renewed during the game?
13. Is it necessary to continuously play the game? Can I save and load?
14. How much does it cost? Any costs involved?

[akula999]

Hi Guys! So I have setup my Monero Pool. I'm the only one mining it with around 4KH/s right now. Everything seems to working fine except for the automatic payout. Anyone know what values I need to put in the config file to make it payout at .50 Monero's ? I've tried different option but it's not working out.
Can anyone help?

Can you be more specific?
What is your current config?

It's in the config.json file.
I have 3 options which i'm unsure what they are exactly:
transferfee: 50000000
minPayment: 100000000
denomination: 100000000

Those above are default values. What should they be?

Ideally you should be running a version of the daemon which includes per-kb fees (this was merged into master on Nov. 7). I'm not sure whether the transferFee value is ignored or not, but in any case, a safe bet would be to set it to 10000000000 (0.01 XMR). For a payout at 0.5 XMR you should use these settings:

        "transferFee":   10000000000,
        "minPayment":   500000000000,
        "denomination": 100000000000

If you are still having troubles, look into logs/payments_error.log for relevant info. If you still need some help, please post your config.json to http://pastebin.com/ or a similar site (obfuscating any sensible data) , so we can help you better.

Thanks for that info. I have one more question:
The pool found a few blocks but weren't distributing the coins (obviously since I had the settings incorrect). I manually dispersed the coins. Now when the correct settings are in place I get an error that it's trying to send the original amount pending balance, however that amount is no longer there. Any insight? I've tried restarting the server but it doesn't help.

[kazuki49]

It's in the config.json file.
I have 3 options which i'm unsure what they are exactly:
transferfee: 50000000
minPayment: 100000000
denomination: 100000000

Those above are default values. What should they be?

Half a monero is 500000000000. You'll want that for minPayment. Either set denomination to the same, or to 100000000000 (0.1 monero).

For the transfer fee, I am not sure. If you have the fixed 0.1 version it'd be 100000000000 but if you have the per kB fee version I think (but I'm not certain) it'd be ignored.

Just curiosity do we have a name for the smallest unity (000000000001 XMR) like a satoshi or something? thx.

[jwinterm]

Just curiosity do we have a name for the smallest unity (000000000001 XMR) like a satoshi or something? thx.

Not really, afaik, but I like tacoshi

[bclcjunkie]

here's another reason how this "generic drugs" economy can leverage on xmr... the way i see it, there's a true potential for xmr in this billion dollar economy where patients can have true freedom against bloodsucking Big Pharmas and FDA. Reminds me of movie "Dallas Buyers Club"? http://www.imdb.com/title/tt0790636/  
and remember anyone can get sick and not everyone can afford or choose what Big Pharma forces us to buy...

https://www.reddit.com/r/Bitcoin/comments/2n5378/cancer_patients_driven_to_darknet_for_cheap_drugs/


here's more info to read up on story behind Dallas Buyers Club movie... you can search yourself and understand how FDA and BigPharmas are in cahoots to charge you sky high bills and mark generics as "illegal" when it's actually profits that they are worried about...

http://www.dailymail.co.uk/news/article-2244249/Pictured-Real-life-AIDs-victim-Ron-Woodroof-tragic-life-played-Matthew-McConaughey-movie-The-Dallas-Club.html

[macsga]

here's another reason how this "generic drugs" economy can leverage on xmr... the way i see it, there's a true potential for xmr in this billion dollar economy where patients can have true freedom against bloodsucking Big Pharmas and FDA. Reminds me of movie "Dallas Buyers Club"? http://www.imdb.com/title/tt0790636/  
and remember anyone can get sick and not everyone can afford or choose what Big Pharma forces us to buy...

https://www.reddit.com/r/Bitcoin/comments/2n5378/cancer_patients_driven_to_darknet_for_cheap_drugs/


here's more info to read up on story behind Dallas Buyers Club movie... you can search yourself and understand how FDA and BigPharmas are in cahoots to charge you sky high bills and mark generics as "illegal" when it's actually profits that they are worried about...

http://www.dailymail.co.uk/news/article-2244249/Pictured-Real-life-AIDs-victim-Ron-Woodroof-tragic-life-played-Matthew-McConaughey-movie-The-Dallas-Club.html

Greece used to have a great health care system; well... Until the "crisis" began. After that, "genome" drugs got into place which "accidentally" are being manufactured by "certain" factories and they seem to have about 10 to 100x the profit for 1/10 or 1/100 the effect. Whoever has been into a lab trying to manufacture an organic compound he knows that theres' a big difference from method to method and TBH, from company to company. Cheaper ones almost always are the worse.

From time to time (since I've studied my 1st degree in the US) I recall an incident back in the 90s that got me stumbled. A person outside of a hospital needing immediate health care and not having the money to afford it (back then if you had not a Social Security Number, you had to pay for the hospital). A young doctor volunteered and a senior one said to him "you KNOW you've got to pay for his drugs & treatment right?"

This is one of the worst moments I've lived in the US which was (is) a lightyear away regarding technology, education, etc from my home country. I really wish we hold on a minute, to put some thought on this and start thinking about a human-focused society than money-focused society. We'll be able to deal with most of our problems easier and build a better future for us and our children. I wonder; nobody of those scums have thought, that they will get old too and they will be treated with their own medicine?