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

[e-coinomist]

Be carefull, mixing factor, ...does not offer 0 for that. Some exchange sites stumble over that.

I find it interesting that you say that because I deal with an exchange site which denies receipt of a deposit with a non-zero mixin, unique among all of my many deposits, among which it is the only one which used a non-zero mixin.  I think it is reasonable to believe, on Bayesian reasoning, that they are lying thieves and I know of no other explanation.  Do you?  

The subset of exchange sites where I subscribed is rather small, a requirement for non-zero mixing does not exist there, had never seen that. The bigger sites want to offer $ exchange some day, so naturaly act more open and transparent.
Consider there is not even a need to hide how many XMR you bought, since that is not equalling your stack size, because of trade. The easy lying thieves detection test: They do refund yes/no?

Hmmm non-zero mixing, on the long we all will have to use that, because of?

With ring signatures, the anonymity set is only as large as you make it, probably just two or three potential keys per signature.

With ring signatures, your anonymity can be compromised after the fact by others in your anonymity set. For example, if you spend an output using a ring signature along with two other outputs, then those other outputs' owners spend them with a single-signature ring signature (so they are incontrovertibly spent), it is now clear which of the three you used is yours, since each can be spent only once. This can be done long after the fact, which complicates analysis.

[liteon]

Monero XMR / BTC   0.00116
I'm in panic.
Sell or wait?

Sell and re-buy in january when GUI/DB is completed.

you mean sell low and buy high?

It's better to get back some then none?
If price continue to fall this fast as it is now, in next 5 days price will be a half from this one which is horrible.

[statdude]

Monero XMR / BTC   0.00116
I'm in panic.
Sell or wait?

Sell and re-buy in january when GUI/DB is completed.

you mean sell low and buy high?

It's better to get back some then none?
If price continue to fall this fast as it is now, in next 5 days price will be a half from this one which is horrible.

Without regular whale support OR user growth as we had from May-September, XMR has found a new equilibrium (still going down, though), fully mined ~ $10 mm, close to DarkCoin and CounterParty POS cap (and 1/3 of the old base).

Unfortunately, this does make some rational sense, as Monero probably has a smaller community of users than either of those currently. In fact, it seems possible to even continue downward without either user growth or buy support.  

Why did growth dry up at the end of September? Regular interest is still there - just not the requisite growth needed to support emission.

I'd originally thought tales of emission being dumped were a myth, but the fact that XMR hashrate has hardly changed through the price drop makes me think it's driven by botnets with free-electricity, who freely dump the 20k daily XMR at market, causing more dumps from weak hands.

Being more "fairly distributed" has been both a blessing and a curse - in the long run, it should lend XMR much credibility as an everyday "cash" like BTC (not a "stock" like many IPO app-coins), but in the short run, we are realizing the effects of this daily downward price pressure versus stagnant user growth.

The only "cure" to all of this is new users to start joining us again, most likely driven by continued development of platform and economy by both dev team and users. Will those with strong hands currently accumulating large amounts of XMR hold strong on the way back up? If so, resistance will be very thin, if and when that day comes. In the meantime, bless us holders.

[GreekBitcoin]

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.

[shojayxt]

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.

It's not just XMR but other legitimate coins are being sold off while money keeps flowing into ICO's that are nothing more than vaporware.  People don't want to wait.  They see a snazzy graphic and a bunch of "Change the World" promises and they jump.  People are just chasing after the next pump and dump. 

I posted in this thread some time ago that people were not going to wait months for a GUI or even a decent website.  I got berated yet I was correct.  People are not going to wait when they see these other coins pop up out of nowhere and soar in value. 

I have nothing bad to say about the dev team.  They all have lives, families, jobs etc...  They can't be expected to accomplish these things on their own time for little or no compensation.  It's just an unfortunate situation.  Monero needed rapid development months ago.  The Monero community needs to figure out a way to pay the devs so they can focus on development .  Some of those ICO's are raising hundreds of thousands of dollars for nothing more than a concept and a bunch of promises while existing and promising tech flounders for lack of funding.

[buybitcoinscanada]

Even if we assume that 100% of the emission is being dumped every day thats like 20 BTC worth at current prices. Every day we have a volume bigger than that. Today its already 5 times bigger than that.

My explanation is that many people dump in order to rebuy a bit lower each time since they know that the general feeling is that price will continue to go down.

However there will come a point at which they wont be able to rebuy cheaper. Now if this point is 0.0011 or 0.001 or 0.0005 or 0.0001 i dont know...

Still, the only thing that monero really needs is more adoption. Monero has indeed far less supporters than Darkcoin or other shitcoins... So while dev team is working on things that has promised i think supporters must find more ways to make adoption more widespread. Only when adoption starts getting bigger we gonna see some serious stuff going on.

It's not just XMR but other legitimate coins are being sold off while money keeps flowing into ICO's that are nothing more than vaporware.  People don't want to wait.  They see a snazzy graphic and a bunch of "Change the World" promises and they jump.  People are just chasing after the next pump and dump. 

I posted in this thread some time ago that people were not going to wait months for a GUI or even a decent website.  I got berated yet I was correct.  People are not going to wait when they see these other coins pop up out of nowhere and soar in value. 

I have nothing bad to say about the dev team.  They all have lives, families, jobs etc...  They can't be expected to accomplish these things on their own time for little or no compensation.  It's just an unfortunate situation.  Monero needed rapid development months ago.  The Monero community needs to figure out a way to pay the devs so they can focus on development .  Some of those ICO's are raising hundreds of thousands of dollars for nothing more than a concept and a bunch of promises while existing and promising tech flounders for lack of funding.

If there was a proper funding framework in place this could be improved significantly. These hodgepodge funding methods that have been going on are not going to cut it. Yes I know, it's an open project & I should do it instead of blabbering about it. Well I don't have the skills & knowledge, but it's obvious it is greatly needed to further ensure XMR's survival. Myself & surely others could put up a bounty for someone to implement a in-depth bounty & funding framework. Per-task bounties, funding current dev's, hiring more/full-time dev's & paying for professional services such as code review, cryptography review, etc need to be covered in a way that donators know exactly what features, tasks, initiatives they are funding, how much & why they cost, priority that they will receive, etc, etc, etc. This can act as a voting system for feature prioritization as well. The amount of donations features & tasks receive speaks more honestly that any other consensus IMO (yes in ways it is still vulnerable to a wealthy enemy, most things are.) This is about as sybil-resistant a voting system as we can get. Anyways, Mike Hearns Lighthouse Project (http://blog.vinumeris.com/2014/05/17/lighthouse/)  comes to mind when thinking what this might look like. Build the network of investors/donators & developers working on the coin with a frictionless platform to connect, inform & enable them, accelerating the development, attracting more investors/developers/community members. It becomes a self feeding, accelerating loop.

What about even forking Lighthouse for XMR. Possible? (http://blog.vinumeris.com/2014/05/17/lighthouse/)

[novag]

Inflation kills this coin. Is not it clear?

[silencesilence]

Inflation kills this coin. Is not it clear?

the first 2 years will be so  

edit:
I'm a huge loss already made me funny

[David Latapie]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

[superresistant]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

[David Latapie]

If there was a proper funding framework in place this could be improved significantly.

As we (and fluffypony in particular), stated it, the issue is not funding (not now), but finding good enough developper and them familiarizing themselves with the code. More money won't make things evolve faster, at least for the coin.

Same thing for "code review, cryptography review": code review is being done as we speak, and cryptography review also - we exchange with our academic cryptographer on a litterally daily basis.

I did not know Lighthouse, seems interesting

sr: "stop trading, baby" ;-)

[forevernoob]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

[Hueristic]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

[smooth]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

They put the white paper back after modifying it some more.

[dEBRUYNE]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

I would advise to read the links posted here above and why monero matters in this post: https://bitcointalk.org/index.php?topic=721045.msg8477489#msg8477489 (this thread also provides a FAQ)

Inflation can be found here: https://bitcointalk.org/index.php?topic=702140.msg8106443#msg8106443
As stated in the OP about the amount of coins: [2] Actual number of atomic units is M = 264 - 1. A minimum subsidy may be implemented in the future with <1% inflation to preserve mining incentives. (https://bitcointalk.org/index.php?topic=583449.0). Important IRC channels are in the OP as well.

If you need any more info feel free to ask (via PM is no problem as well). I hope some other members can add some important links.

[David Latapie]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

Regarding infinite minting: this is both yes and no and is detailled in the OP
no, because the "regular emission" is 18.4 millions, so close to Bitcoin
yes, because we may implement a "tail emission", which is not present in Bitcoin. This tail emission would very small but also infinite. The point of this tail emission would be to provide an alternative to Satoshi's decision that "after BTC is fully mined, transaction fees will suffice to encourage continuous mining", something on which we disagree - hence tail emission.

Regarding "facts about the coin", I suggest you start by reading this:

• https://cryptonote.org/whitepaper.pdf
• http://monero.cc/downloads/whitepaper_review.pdf
• http://lab.monero.cc
• https://bitcointalk.org/index.php?topic=721045 and particularly https://bitcointalk.org/index.php?topic=721045.msg8477489#msg8477489
• http://www.reddit.com/r/CryptoCurrency/comments/2nu9rg/darkcoin_anoncoin_shadowcash_monero/cmh5ekr
• And finally to get an idea of the present state, you can read our Monday Monero Missives on the ANN: https://bitcointalk.org/index.php?topic=583449

[SmoothCurves]

Inflation kills this coin. Is not it clear?

...temporally.
The inflation doesn't last forever.

I'm not that in to Monero. Can anyone link to facts about the coin?
I have tried to google info about inflation but haven't found anything.

Is Monero "limited" like BTC, or does it have infinite "minting" of new coins?

It is mined like BTC. It is also limited to 18M compared to Bitcoin's 21M

[David Latapie]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

No, the general writing style, I recognized my writing style and then realised I forgot to properly fill my profile And, yes, I often mispell "developer", I did not even notice it, I4ll fix this, thanks.

[Hueristic]

Why hasn't this been answered?

First of, I am a Monero core developper. I'll try to remain as factual and objective as possible, though.

http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

I knew this writing style sounded familiar

I'm confused? You mean the misspelled "developper". I'm obviously missing some thing here. Do you mean that post was an attempt to troll? And that is why no-one ever answered this

Since the fraud revelation linked in this post, the CryptoNote.org whitepaper has 404'd (part of the fraud was that this document was digitally signed with an obviously-wrong-by-multiple-years timestamp, so I guess that's why..). Do you or anyone have a link to a citable document describing their ring signature scheme? –  Andrew Poelstra Aug 25 at 15:27

?

No, the general writing style, I recognized my writing style and then realised I forgot to properly fill my profile And, yes, I often mispell "developer", I did not even notice it, I4ll fix this, thanks.

Ahh, Lol

To an outsider looking in that part of the thread looks like an accusation is unanswered. I don't have write permission there so maybe you want to drop this link as a answer to his request?

https://bitcointalk.org/index.php?topic=583449.msg9752751#msg9752751

From what I've read there as a whole I'd say he is a good supporter of this coin. That article is a great read. Wish I was younger and could soak this stuff up like I used to. Getting old blows.

[shojayxt]

If there was a proper funding framework in place this could be improved significantly.

As we (and fluffypony in particular), stated it, the issue is not funding (not now), but finding good enough developper and them familiarizing themselves with the code. More money won't make things evolve faster, at least for the coin.

Same thing for "code review, cryptography review": code review is being done as we speak, and cryptography review also - we exchange with our academic cryptographer on a litterally daily basis.

I did not know Lighthouse, seems interesting

sr: "stop trading, baby" ;-)

I stand corrected.  I thought funding was an issue as it's been brought up before.  

So you're looking for a good developer and you have a way to compensate them if they are found?

It shouldn't be that hard to find a developer looking for work.