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Author Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency  (Read 4554366 times)
smooth
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December 06, 2014, 03:13:44 AM
 #17621

...It is also critical to privacy because otherwise miners can be in a position to start imposing requirements (such as identification) on transactions.


I don't quite understand this.

It is another way of saying that centralized miners can start to impose blacklists, whitelists, redlists, and other intrusive requirements on transactions.

Monero has things like ring signatures, stealth address, etc. to protect privacy and reduce censorship but this still relies on the miners to operate the network in a neutral manner. If they are concentrated enough, they can start imposing requirements.

Too much mixing? No "SafeChain approved" tag? Etc. Sorry, your transaction never gets into a block.

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December 06, 2014, 03:16:59 AM
 #17622

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.
Good to see someone recognized. Yes, Bitcoin will die after some third or fourth block halving. Enough pure POW Altcoins demonstrated that exprimentally. And SHA ASICS might get out of operation temporarily to avoid power costs, but that doesn't make them stop existing. Readily available for the attack once Hashrate has fallen into reachable areas.  Then BOOM, simple as that. Predictable.

To be fair our tail mining is designed to be small too (like bitcoin after a few halvings but before no subsidy), so until the things are more clear from experience or there is stronger research to support an existential need for more radical changes, we are only slightly better off. Still, at least we have recognized some aspect of the potential failure mode and eliminated it.


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December 06, 2014, 03:18:01 AM
 #17623

And Market integration. Is there any thoughts on something like Open Bazaar?

Open Bazaar is definitely something we are interested in supporting. We need multisig for that, and some other work that is also planned.
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December 06, 2014, 03:27:07 AM
 #17624

There is so many things to do for this coin to success.
Main question: are the dev's paid?
Because if they are, then they aren't doin it so smooth.
Who am I to say that?
I am a single XMR miner & supporter.
It's not about how much do I have or how much will I have.
It's about coin success. Goes slow, work more. Still slow? Go harder. Wanna success? Push more!

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December 06, 2014, 03:34:13 AM
 #17625

Main question: are the dev's paid?

If by "dev" you mean people doing the coding, some have, some haven't.

If by "dev" you mean the core team responsible for leading the project, then definitely not. Not only are we not paid but we have covered about 80% of the costs of the project out of our own pockets. We are all negative for a large amount of time and money. We do it because we believe in the project and want to see it succeed.

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Who am I to say that?

The boss. We work for the community.

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I am a single XMR miner & supporter.

Thank you for your support
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December 06, 2014, 03:39:46 AM
 #17626

...It is also critical to privacy because otherwise miners can be in a position to start imposing requirements (such as identification) on transactions.


I don't quite understand this.

It is another way of saying that centralized miners can start to impose blacklists, whitelists, redlists, and other intrusive requirements on transactions.

Monero has things like ring signatures, stealth address, etc. to protect privacy and reduce censorship but this still relies on the miners to operate the network in a neutral manner. If they are concentrated enough, they can start imposing requirements.

Too much mixing? No "SafeChain approved" tag? Etc. Sorry, your transaction never gets into a block.



Thanks, that made sense to me. Smiley

And Market integration. Is there any thoughts on something like Open Bazaar?

Open Bazaar is definitely something we are interested in supporting. We need multisig for that, and some other work that is also planned.

NOW I see why everyone has been harping Multisig. I wasn't aware it was a per-requiset. Someday I may read a paper but not today. Smiley Thanks for answering all the questions! Cheesy

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December 06, 2014, 03:41:15 AM
 #17627

What is the best programming language to learn for Monero?

I have a lot of time on my hands and much motivation.

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December 06, 2014, 03:43:24 AM
 #17628

NOW I see why everyone has been harping Multisig. I wasn't aware it was a per-requiset.

"coins that support multisig transactions could be added in the future " http://forum.openbazaar.org/index.php?p=/discussion/31/altcoin-support

The Open Bazaar project has said they will accept pull requests to add support for other coins (presumably this assumes the coding is good). Meaning other people have to do the work, but they won't stand in the way.  Even if not included directly, we can do a fork. Either way multisig is needed. That is fundamental to how OB works.

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Thanks for answering all the questions! Cheesy

You are welcome.
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December 06, 2014, 03:45:39 AM
 #17629

What is the best programming language to learn for Monero?

I have a lot of time on my hands and much motivation.

If you want to develop improvements to Monero itself, then C++.

If you want to develop add on software or services that us it (more needed IMO), then any modern language with a JSON-RPC library is fine.
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December 06, 2014, 03:46:40 AM
 #17630


If by "dev" you mean people doing the coding, some have, some haven't.


I ment about coding, sorry for being confusive about it.

If by "dev" you mean the core team responsible for leading the project, then definitely not. Not only are we not paid but we have covered about 80% of the costs of the project out of our own pockets. We are all negative for a large amount of time and money. We do it because we believe in the project and want to see it succeed.

Yeah, I'm aware of it. Just liked this coin so much, until those days when price gone so madly down.
I'm still in it, just not giving it so much hope, as support of buyout was really weak.
Strong fiat/buy support can bring the price back up...
But no projects, like app's and market use of currency to make it spendable as a Bitcoin.
Something that make people want it. Somewhere to spend it. Not just buy and sell.

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December 06, 2014, 03:49:13 AM
 #17631

Yeah, I'm aware of it. Just liked this coin so much, until those days when price gone so madly down.

We can't control the price and the price does not dictate the quality of the technology or people using it. In fact we are now seeing new people getting interested in the project. To them, the price is only now becoming attractive, and even relatively modest gains from here would be great. I know that probably isn't what you want to hear, if you have been around a while, as I have.

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But no projects, like app's and market use of currency to make it spendable as a Bitcoin.

There are projects being worked on.

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Something that make people want it. Somewhere to spend it. Not just buy and sell.

Agree!
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December 06, 2014, 04:03:01 AM
 #17632

I have a couple of nice, short (xmr.) domains.
Would like the idea to use them. I don't need to earn, just to make something that can be good for this coin.
So, domain + hosting = I have. Idea = I don't and would like suggestion(s).
I am good in php and SQL. OK with javascript too.
I know it's not much of knowledge, but that I can offer.

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December 06, 2014, 04:19:56 AM
 #17633

I have a couple of nice, short (xmr.) domains.
Would like the idea to use them. I don't need to earn, just to make something that can be good for this coin.
So, domain + hosting = I have. Idea = I don't and would like suggestion(s).
I am good in php and SQL. OK with javascript too.
I know it's not much of knowledge, but that I can offer.

we badly need some explorer, chainradar is out there but there used to be a better one called monerochain.info and it disappeared a few months ago.

something nice with charts and stats like transactions per day, hash, difficulty, etc.

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December 06, 2014, 05:06:00 AM
 #17634

...It is also critical to privacy because otherwise miners can be in a position to start imposing requirements (such as identification) on transactions.


I don't quite understand this.

It is another way of saying that centralized miners can start to impose blacklists, whitelists, redlists, and other intrusive requirements on transactions.

Monero has things like ring signatures, stealth address, etc. to protect privacy and reduce censorship but this still relies on the miners to operate the network in a neutral manner. If they are concentrated enough, they can start imposing requirements.

Too much mixing? No "SafeChain approved" tag? Etc. Sorry, your transaction never gets into a block.


monero is supposed to be another one to fight against XCP but ,currently ,it seems to follow the downtrend resembling blackcoin.not very optimistic for the future.
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December 06, 2014, 08:27:28 AM
Last edit: December 06, 2014, 10:28:13 AM by Munnu
 #17635

I have a couple of nice, short (xmr.) domains.
Would like the idea to use them. I don't need to earn, just to make something that can be good for this coin.
So, domain + hosting = I have. Idea = I don't and would like suggestion(s).
I am good in php and SQL. OK with javascript too.
I know it's not much of knowledge, but that I can offer.

we badly need some explorer, chainradar is out there but there used to be a better one called monerochain.info and it disappeared a few months ago.

something nice with charts and stats like transactions per day, hash, difficulty, etc.

Agree 100%. I'm interested to see how Monero ecosystem will grow. Especially by developers outside core team. Price/value will increase when large audience jumps in and drives demand up. Until there are applications for large audience like MyMonero and REAL usage for the currency we are in mercy of investors and I don't see a reason why price would go up (besides speculation). At the same time current value is heavily discounted for the long term opportunity.
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December 06, 2014, 09:04:02 AM
 #17636

yeah, I've got my head in this "finding an application" component.

I recently came up with the LendWallet / Decentralized Autonomous Lending Protocol, but this requires a blockchain-ledger that is ultimately traceable... although perhaps it can still be done with the more anonymous ledger of monero. I posted version 1.0 of what I guess you could call a whitepaper (it was a powerpoint), but it had some typos and the lack of understanding by the few responders indicated I need to flesh it out more, which I plan on doing this weekend... (in between overclocking some 771 xeons to hash some monero! those huge caches are great. I'll be checking the wattage on the wall tomorrow though. probably not great. I'll post it in that google doc thats floating out there)

Anyhoo, I'm rambling.

Or perhaps there's an audience for anonymous lending / borrowing. Whether or not I can code it is a different story. Well, its not a story. I can't code it. Period. Goddamned syntax and complex detailed construct retainment.

Hrm, I just came up with something..... and I'll just put it out there - not that I want monero to start with the same, hrmm.... how do you say...... color, as it were, that bitcoin started out with... but really it fits the bill.


What is one thing that people really want to keep hidden from others, in terms of transactions, etc?


Adult entertainment.


How many times do you think people have made it to a paywall at some ,,,, adult entertainment... site and been like "yeeeaaaahhhh, i'm definitely not going to put that on my credit card"


Of course, unfortunately, at this point in the game, even if there  was a "monero accepted here!" sign on the website.... or physical storefront, for that matter, you'd first have to buy some BTC from circle or whatever, then trade your BTC for monero, and then away you go.


Yes, I know - throw your tomatoes and boo me for suggesting an exploitation of our carnal pleasures, but there it is.


Hrm... what else we got....


I've also been trying to think of good applications for crypto in general.... its main strength is instantaneous, around the world payment. What possible good or service do you want to pay for thats coming from the other side of the world, that you would engage in a transaction with someone you may not trust? And for that matter, what can we do that actually adds to society? (in contrast to the above?)

One of the fascinating things that I've read about cc is the possibility that developing nations may use it to leapfrog development... this phenomenon was seen with cell phones - some countries without established phone lines and what have you just went straight to cell phones. So, what countries exist with limited currency infrastructures that could benefit from these currencies, and how could monero move in to be the one that is utilized? This kind of effort would require actual people going places to do stuff I think.

< Track your bitcoins! > < Track them again! > <<< [url=https://www.reddit.com/r/Bitcoin/comments/1qomqt/what_a_landmark_legal_case_from_mid1700s_scotland/] What is fungibility? >>> 46P88uZ4edEgsk7iKQUGu2FUDYcdHm2HtLFiGLp1inG4e4f9PTb4mbHWYWFZGYUeQidJ8hFym2WUmWc p34X8HHmFS2LXJkf <<< Free subdomains at moneroworld.com!! >>> <<< If you don't want to run your own node, point your wallet to node.moneroworld.com, and get connected to a random node! @@@@ FUCK ALL THE PROFITEERS! PROOF OF WORK OR ITS A SCAM !!! @@@@
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December 06, 2014, 09:06:29 AM
 #17637

XMR is looking good, strong buy walls on Polo.

Buy Orders    Total: 175.88276639 BTC

Price          XMR                    BTC

0.00110001   30816.84313401   33.89883562
0.00110000   26845.81434381   29.53039578
...
0.00100000   10358.394565   10.35839457
...
0.00080000   21250           17
...
0.00060000   45000           27
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December 06, 2014, 09:08:31 AM
 #17638

XMR is looking good, strong buy walls on Polo.

Speculation thread please (see OP for link)
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December 06, 2014, 11:59:38 AM
 #17639

What's going on? the Price down to 110K but the Network Hash Rate up to  20.63 MH/sec?
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December 06, 2014, 12:03:05 PM
 #17640

XMR is looking good, strong buy walls on Polo.

Buy Orders    Total: 175.88276639 BTC

.....

Buy walls are not per se a good thing.

Usually they are an indicator of extreme speculation (in the direction of short selling).
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