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

[smooth]

I think you're not getting it - you don't adopt a kid if you don't have time to feed it and take care of it

Mining is not a adopting a kid, it is running a computer. Approached in a low-maintenance manner, it can be very similar to running a file server that doesn't require much attention for months or years.

The break even electricity rate for Monero GPU mining is not even that low (haven't worked it out recently but maybe 10 cents/kwh). Yes I cringe when I see people posting about how "the difficulty is too damn high" because mining isn't profitable for them at 30 eurocents/kwh, but in locations with low rates you will still be profitable or accumulate coins at a small loss with little to no maintenance effort.

[1713521096]

1713521096

[G2M]

Hobby miner here. Mining Monero with 5 290's

It makes sense, because it keeps my room warm and it's what I want to do.

Some days I get bored and mess with miners for other things. Maybe two days out of the month.

The other 28 or so days, I'm just happy to have Monero coming in and not have to pay any attention to mining at all.

I just don't see the need to mess with software for hours to squeeze that extra twenty dollars a month.

It can't afford me (especially if it takes longer than an hour) to mess with anyways.

[smooth]

Missive!

https://forum.monero.cc/1/news-and-announcements/112/monday-monero-missives-20-december-8th-2014

[liteon]

Time to buy more
Still cheap

[monero]

Official Monero Forum Link

Monero Monday Missives

December 8th, 2014
 
Hello, and welcome to our twentieth Monero Monday Missive! We're combining last week's one with this week's, as last week's Missive was pulled down shortly after being put up due to breaking issues in the Windows build of Monero 0.8.8.5 (since resolved). Thank you for your patience!

Major Updates

Monero 0.8.8.6, recommended update, please take note of new download links:
 
Windows, 64-bit (monero.cc/downloads/win64) - SHA: facbeb2e408cf8b9a46534363eba161dbb047654  
OS X, 64-bit (monero.cc/downloads/mac) - SHA: 7069de92083fb7831b063cc152e8f35508ff61bf  
Linux, 64-bit (monero.cc/downloads/linux) - SHA: 16f3f55bcfbfae6135cbeda6574f651890a8be64  
FreeBSD, 64-bit (monero.cc/downloads/freebsd) - SHA: 9fd0005b697e146a26a0bf9e3cd0c89b978f7fbd  

NOTE: When opening your wallet with simplewallet for the first time with this update you will be prompted to choose a language for your mnemonic seed words, and you will be given a new 25 word mnemonic. You will always be able to restore from the old 24 word mnemonic seed, but it is of course recommended that you move to the newer, more robust mnemonic.

1. We are (finally) happy to release Monero 0.8.8.6. We released 0.8.8.5 last week, but due to a breaking Windows bug we pulled the announcement down until we solved the bug on the weekend. The major changes for 0.8.8.5 include: OpenAlias support, per-kb fees, multi-language mnemonics, file-based checkpointing, MoneroPulse DNS checkpointing, a move from MSVC to an msys2 / mingw-w64 build environment for Windows, and brand new build CMake. 0.8.8.6 adds some important fixes to the multi-language mnemonic system.

2. Due to the launch of MyMonero we feel it prudent to add a new section to the Missives, called "External Projects". This is a section to provide updates on other projects that are not an official part of the Monero Project or collectively created by the Monero Core Team, but is related to Monero in some way - thus OpenAlias would not be part of this section, but MyMonero would. If you have an update you would like included in this section, please email dev@monero.cc for inclusion the following Monday, or send any member of the Monero Core Team a message. If this section becomes overly full we may choose to shutter the section, so please keep updates brief and only those that are important. It is not a marketing area, and so every new mining pool launched or minor feature added to a pool will not be eligible for inclusion (although if you've done something cool, let us know;)

3. We're also quite happy to announce the addition of a new feature to Monero: Smart Mining. This is a feature that will evolve over time, but at its most basic it is something that will allow everyone running the client software to support the network in an unobtrusive manner. Smart Mining detects your CPU usage, and if your CPU is idle and you aren't on battery power (for laptops and/or connected UPS devices) it will begin mining. As soon you switch to battery power or your CPU activity picks up it will pause mining until it sees it is safe to start again. You still set your Monero address for Smart Mining, as always, and whilst your chances of solving a block may be relatively small (for now;) it is still an easy way to support the network without needing to purchase expensive equipment. This work is complete (for Linux) and is currently being tweaked to work on our other supported operating systems. Ongoing process can be followed here: https://github.com/oranjuice/bitmonero/tree/smart-mining

External Projects

MyMonero: the various modal windows, such as the login screen, should be displaying correctly across devices now. We are fixing the scroll issues which still plagues these on some devices. Just to make sure everyone is aware after the recent blockchain.info issues: the MyMonero code has unit tests using the Jasmine testing framework for JavaScript, as well as tests for other parts of the backend application. These tests are executed and checked for every commit. We also have had HTTP Strict Transport Security (HSTS) enabled from the beginning, and have various other things enabled for client-side security such as X-Frame-Options set to deny, X-XSS-Protection on, and X-Content-Type-Options set to nosniff.

I2PD: for those not aware, the i2pd project is a new implementation of the i2p protocol in C++, and is the software that Monero will use for its connection to the i2p network. The source code of the project can be found here: https://github.com/PrivacySolutions/i2pd - the regular stream of commits is testament to the ongoing progress being made. The i2pd team will provide regular updates on i2p-specific functionality as it is added and the project grows to a point of maturity.

Dev Diary

Build: tests are now disabled when building the build-release, build-debug, or release-static targets. The default make target (all-release) will include tests, as will all test- targets, obviously.

Account: lots of fixes to multi-lang mnemonics, although UTF-8 on Windows still seems to be a bit shaky.

Core: all 0.8.8.5 and 0.8.8.6 changes have been covered over the past few Missives.

Until next week!

updated by David Latapie

[Shrikez]

Missive!

https://forum.monero.cc/1/news-and-announcements/112/monday-monero-missives-20-december-8th-2014

excellent , thank you!

[monero]

Smart mining reminds me of what smooth wrote months ago (but even better, since no asking, although there should be an option for explicitely deactivate it, for fragile hardware or competing background programs like BOINC):

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

[Febo]

Just to spread the good news... even though its not big news, its big to me.

I successfully have accumulated 1 XMR by mining with my own Xeon 771-775 sticker-hacked ebay-built rigs on monerohash... after having learned enough linux (or copy and pasting code into terminals... can't tell you how many times I've killed a program by ctrl-c'ing in a damn terminal... btw, thank you all you nice linux people for putting terminal code on the interwebs so I can just copy-paste.. or copy-shift-insert, as the case may be).

and then to see it pop up on my wallet as my client was catching up to the network.

very satisfying. Yay. My very first self-mined cryptocurrency.

now if I could only snipe some 750 ti's.

Welcome, though you're kind'a late...

Last months was harder to mine then now. Difficulty is at about Jully rate. And not that much over the end of May rate when i started mining.

[xulescu]

I think you're not getting it - you don't adopt a kid if you don't have time to feed it and take care of it

Mining is not a adopting a kid, it is running a computer. Approached in a low-maintenance manner, it can be very similar to running a file server that doesn't require much attention for months or years.

The break even electricity rate for Monero GPU mining is not even that low (haven't worked it out recently but maybe 10 cents/kwh). Yes I cringe when I see people posting about how "the difficulty is too damn high" because mining isn't profitable for them at 30 eurocents/kwh, but in locations with low rates you will still be profitable or accumulate coins at a small loss with little to no maintenance effort.

Very true, it's not - and I'm not saying people CANNOT mine in an extremely low maintenance manner, I'm saying if they're going to do that, they may as well take some cash out of their wallet, burn a small percent, and use the rest to buy XMR, because that's basically what they're doing.

Virgin coin premium

[smooth]

I think you're not getting it - you don't adopt a kid if you don't have time to feed it and take care of it

Mining is not a adopting a kid, it is running a computer. Approached in a low-maintenance manner, it can be very similar to running a file server that doesn't require much attention for months or years.

The break even electricity rate for Monero GPU mining is not even that low (haven't worked it out recently but maybe 10 cents/kwh). Yes I cringe when I see people posting about how "the difficulty is too damn high" because mining isn't profitable for them at 30 eurocents/kwh, but in locations with low rates you will still be profitable or accumulate coins at a small loss with little to no maintenance effort.

Very true, it's not - and I'm not saying people CANNOT mine in an extremely low maintenance manner, I'm saying if they're going to do that, they may as well take some cash out of their wallet, burn a small percent, and use the rest to buy XMR, because that's basically what they're doing.

You are assuming it is losing money, which it isn't always. That depends on electricity costs.

Buying monero with cash is itself inconvenient. First you have to turn it into BTC and then trade it for XMR, both at fluctuating rates, both using somewhat flaky intermediaries. Or you can try to find someone with whom to make a direct trade, but with the coin being small that is hard to do. (Even with BTC this isn't always easy.) So even at a small loss low-maintenance mining might be easier.

xulescu: There shouldn't be a virgin coin premium for monero if our beliefs about fungibility are correct. If not, then the value proposition for monero is questionable.

[jwinterm]

I think you're not getting it - you don't adopt a kid if you don't have time to feed it and take care of it

Mining is not a adopting a kid, it is running a computer. Approached in a low-maintenance manner, it can be very similar to running a file server that doesn't require much attention for months or years.

The break even electricity rate for Monero GPU mining is not even that low (haven't worked it out recently but maybe 10 cents/kwh). Yes I cringe when I see people posting about how "the difficulty is too damn high" because mining isn't profitable for them at 30 eurocents/kwh, but in locations with low rates you will still be profitable or accumulate coins at a small loss with little to no maintenance effort.

Very true, it's not - and I'm not saying people CANNOT mine in an extremely low maintenance manner, I'm saying if they're going to do that, they may as well take some cash out of their wallet, burn a small percent, and use the rest to buy XMR, because that's basically what they're doing.

Not to get all righteous or anything, but there is also the possibility that if someone really likes a certain coin's technology, ideals, developer team, logo, etc., then maybe they just want to "support the network", even if that means mining at less than optimal profit or a slight loss.

[David Latapie]

Or simply use Namecoin (NMC), http://namecoin.info/, to register a .bit domain. There is no need to use the ICANN/US Gov. root. Of course all of this creates a business opportunity for selling .bit, Namecoin, registrations for XMR.

I'm considering getting donate.david.latapie.bit (my internet presence is on david.latapie.name and .name is handled by VeriSign, which is a bad news). Speaking of that, would donate.david.latapie.onion make sense? Does "choosing between .bit and .onion" make sense?

Same here, there were some nice comments in it. I like this particular one from Gregory Maxwell about privacy:

I updated the FAQ entry "Q: Why is an anonymous currency important?"Thanks!

By the way: PR-wise, it is better to speak of privacy than of anonymity

Anonymity = drug
Privacy = family

This was my first mined crypto too It's a fulfilling feeling

Me in April 2014 with Monero. I still remember this surreal atmosphere - I felt like if I had been mining Bitcoin in 2010...

This is interesting.. has there been any talk of implementing transparency layers, and their potential function?

Yes there has been. Some of it is right in the original whitepaper, in terms of view keys and auditable addresses. We have also considered other methods of allowing for transparency on specific transactions. People want to be able to selectively prove payments on demand and generally open up to transparency in a controlled manner, without everything being linkable and traceable to the rest of their transactions.

Added to the FAQ.

dump doesnt matter now because xmr is becoming like bitcoin, a long period of low price is good for legitimacy of the coin if it ever reaches a lot higher in the future no one will be able to say that didn't bought xmr because it was too expensive, they can only say they didnt heard about monero or didnt believe on it.

I'm adding it to my list of quotes.

hey guys check this out. wow. no more having to copy and paste huge addresses! cool new feature in the 0.8.8.5, great work devs  

go to https://openalias.org/ to learn how to make your own alias!

I updated the OP.

XMR:

Code:

address (openalias) donate.monero.cc
address (oldstyle) 46BeWrHpwXmHDpDEUmZBWZfoQpdc6HaERCNmx1pEYL2rAcuwufPN9rXHHtyUA4QVy66qeFQkn6sfK8aHYjA3jk3o1Bv16em
viewkey: e422831985c9205238ef84daf6805526c14d96fd7b059fe68c7ab98e495e5703

Thank you for mentionning it, saddam (and thank you for creating the ck.moneroaddress.org alias for crypto-kingdom, too).

[bclcjunkie]

simple yet genuis... thanks for the missive guys!

Smart mining reminds me of what smooth wrote months ago (but even better, since no asking, although there should be an option for explicitely deactivate it, for fragile hardware or competing background programs like BOINC):

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

[smooth]

Smart mining reminds me of what smooth wrote months ago (but even better, since no asking, although there should be an option for explicitely deactivate it, for fragile hardware or competing background programs like BOINC):

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

I also suggested at one point turning it on by default and having a disable option be buried in a preferences system. I think I2P does something like that for relaying, and most other p2p systems do something similar one way or another. Bitcoin lost its way here, when the mining mining gold rush shifted the focus from principles of p2p.

Either way, the premise depends on it being well-behaved or people will turn it off, which defeats the purpose, so that is what the Smart Mining work is doing.

[David Latapie]

That is cool! How did you get your the saddam.moneroaddress.org alias you reference in your sig? Did you have to register the domain name moneroaddress.org yourself? Does this mean that to get our own openalias to use with Monero, we have to find domain name registrars that allow anonymous registration?

Instructions on the FAQ: What is openalias? How does it work?

[bobabouey2]

When opening your wallet with simplewallet for the first time with this update you will be prompted to choose a language for your mnemonic seed words, and you will be given a new 25 word mnemonic. You will always be able to restore from the old 24 word mnemonic seed, but it is of course recommended that you move to the newer, more robust mnemonic.

So for those of us who have taken the cold wallet approach of just keeping the "old" 24 word mnemonic:

1 - Should we still move to the "newer, more robust mnemonic."

2 - If yes, How do we do this?  Do we use the restore deterministic wallet in the new client, save and close out, and then when we reopen we will receive the 25 word mnemonic.  Or do we restore with an older version of simplewallet, and then open with the updated wallet?

Thanks in advance, and keep up the good work.\!

[smooth]

When opening your wallet with simplewallet for the first time with this update you will be prompted to choose a language for your mnemonic seed words, and you will be given a new 25 word mnemonic. You will always be able to restore from the old 24 word mnemonic seed, but it is of course recommended that you move to the newer, more robust mnemonic.

So for those of us who have taken the cold wallet approach of just keeping the "old" 24 word mnemonic:

1 - Should we still move to the "newer, more robust mnemonic."

2 - If yes, How do we do this?  Do we use the restore deterministic wallet in the new client, save and close out, and then when we reopen we will receive the 25 word mnemonic.  Or do we restore with an older version of simplewallet, and then open with the updated wallet?

Thanks in advance, and keep up the good work.\!

Not necessary to do right away but you can restore the old seed with the new wallet, you will then get a new seed

[nioc]

Still no update to the title of this thread with the date and version of (mandatory upgrade)

[xulescu]

xulescu: There shouldn't be a virgin coin premium for monero if our beliefs about fungibility are correct. If not, then the value proposition for monero is questionable.

You are right, of course. I referred to the lack of counter-parties. You need to pay somebody to acquire XMR. You might prefer to pay your electricity utility over others.

[smooth]

xulescu: There shouldn't be a virgin coin premium for monero if our beliefs about fungibility are correct. If not, then the value proposition for monero is questionable.

You are right, of course. I referred to the lack of counter-parties.

Very true. That was something I included in my comments about mining, not sure if it was before or after yours. To buy instead of mine you are going to have to deal with exchanges or private parties, so issues of fraud risk and privacy arise that don't exist for mining (at least not solo mining)