[XMR] Monero Speculation

[dEBRUYNE]

zcash team is still researching How To Generate SNARK Parameters Securely

This is a oversimplified article about a very complex problem.

Some interesting stuff in that blog. First:

So does this fix the problem? We think this solution is good enough to move ahead with. It completely eliminates the toxic waste private key if it works, and it would be extremely difficult for any adversary to defeat it.

I really don't like the wording "good enough". There could literally be billions of dollars on the line in the future.

Unfortunately there is no way to confirm, after the fact, that it actually worked. It will always be possible to worry that all N out of N of the participants may have secretly colluded together to share their private key shards, or that all N out of N participants may have had their computers compromised by an adversary who stole all of the private key shards.

This is a major hurdle as well. The original cryptocurrency concept as envisioned by Satoshi is about being decentralized and trustless. Alas, Zcash won't be either of them.

[1715451741]

1715451741

[americanpegasus]

While Monero has three pillars, ZCash has three foibles: 
 
- The existence of Genesis key shards can never guarantee you can trust the Blockchain implicitly. 
 
- Opaque Blockchain means you can never be sure someone hasn't exploited a flaw and counterfeited tokens.  If such a flaw were discovered and patched, you would still never be able trust the Blockchain again. 
 
- Lack of a view key means there is no way to prove you control an address or offer optional auditability without granting control of your funds to another entity. 

[macsga]

and 15 million USD
Oh, that, LOL. Forgot to mention that. Dunno, but they have it, and we don't. It's yet another strength that they have, and that we have to somehow overcome. Have to hit'em where they ain't. Dogecoin did it with a mascot and a friendly community.

How're we going to do it? Don't know. When some guy attacks me, and he has 50 pounds on me, well, that's an advantage, maybe an unfair one, but I have to overcome it. Or die.

Ethereum is that guy rushing us with 'roid rage, and we're complaining about the illegal juice?!?! Good luck with that.

Might I interfere with your -otherwise- nicely put thoughts; but the one cannot exclude the other (ie: both coins can achieve greatness). FWIW: I never before got involved with alts (trading-wise). I did so with ETH/EXP rallies and the only thing I done it for, was to gain more BTCs that I used to buy XMR. Funnily enough, I managed to rub out my gains from the recent mini-dump XMR did *right* on the verge of "breakout" point a week ago (240k).

I'm not complaining; trading has these 'features' - it could've been worse if I held ETH instead. I'm just pointing out the obvious, that both coins could co-exist with BTC serving different purposes. This is pretty early stage if we're talking about a black swan. I'd say we wait and see what happens (while keeping our eyes open).

[bitebits]

We are the 98 pound genius weakling at the beach. We are still going to get sand kicked in our face. We need to be all 'round good [...]

I strongly disagree with this. Monero needs to be private, untraceable, fungible. Nothing more, please.

That by itself is a huge task and responsibility, nothing to take lightly. Without exaggeration it can be a case of live and death. So please don't try to be reasonable good at everything, because then at the same time you are good at nothing. That is ground for the other 99 random altcoins to cover.

[generalizethis]

...
We are the 98 pound genius weakling at the beach. We are still going to get sand kicked in our face. We need to be all 'round good, not excellent, or even the best in some areas, but pitifully deficient in others.

If we're using comic book metaphors, I think we're about to become X-Men's Beast - superhuman strength with genius level intellect.

LOL, good one! Remember Peter Parker, before he was bitten by the spider. A 98 pound weakling genius himself, and then he got the spider powers. I just don't want us to have Peter Parker's terrible timing, and Peter Parker's luck!

Your metaphor is wrong. It's more like a carnival barker claiming that what is behind the curtain is "Stupendous, mighty, earth shatteringly strong and will destroy all who get in its way!"

Which maybe once or twice should get you to bet against BTC or XMR, opensource technologies that do what they say and how they say it and don't need a manager to pimp their wares. After hearing this over and over again with every new coin that's built on hype and promises, maybe you should be a little less panicky and a little more confident in what is right here in front of you.  

No one is stopping you from betting a little (or everything) on what's behind the curtain, so if you believe all the hype, go for it.

[dEBRUYNE]

Many people have been asking for this, so here it is!

An extensive guide for securely generating an offline cold paper wallet:

https://www.reddit.com/r/Monero/comments/48cgmd/an_extensive_guide_for_securely_generating_an/

[BldSwtTrs]

Why after all this time there is still no GUI and Poloniex is still a single point of failure?

Jwinterm made a GUI.
The Monero community funded a developer with 14k XMR to develop the "official" GUI
https://forum.getmonero.org/9/work-in-progress/2476/the-official-qt-gui-project

And there was that other GUI that was made recently by someone.

If poloniex died, volume would probably move to bittrex.

of course, the real question to ask, is what have you done after all this time to fix these problems?

I wouldn't trust a project that relies on me to succeed.

[GreekBitcoin]

I wouldn't trust a project that relies on me to succeed.

Then you must find another project and trust whoever funds it. This is an open source decentralized project, which means it relies on the community.

[BTKC]

Many people have been asking for this, so here it is!

An extensive guide for securely generating an offline cold paper wallet:

https://www.reddit.com/r/Monero/comments/48cgmd/an_extensive_guide_for_securely_generating_an/

Thank you!

[dEBRUYNE]

Some TA:

http://themerkle.com/technicalanalysis/monero-technical-analysis-for-02292016/

[jwinterm]

...
I wouldn't trust a project that relies on me to succeed.

Lol, now that's the sort of can-do attitude that will "Make America Great Again".

Ask not what Monero can do for you, ask if you possess the mental faculties to construct coherent sentences.

or maybe...

Ask not what Monero can do for you, ask if you can get fries with that.

[tifozi]

I thought ETH had ring sigs ? 

https://www.reddit.com/r/ethtrader/comments/47v17v/1220000_eth_hit_poloniex_wallet_20_hours_ago/

[GingerAle]

I thought ETH had ring sigs ? 

https://www.reddit.com/r/ethtrader/comments/47v17v/1220000_eth_hit_poloniex_wallet_20_hours_ago/

where did you read that? of course they don't. they have the ability to add ring sigs on top of it, just like a highway has the ability to transport cars and trucks.

[Febo]

My fear is that we will miss this black swan event, because (among other things) we have no official gui, and only a tiny exchange called Poloniex. Will these issues be resolved before China’s move towards capital controls becomes a fait accompli?

I dont really see Poloniex as a tiny exchange. I am to lazy to check any stats, but i think Poloniex maybe was tiny a year ago, but for sure will not be tiny year from now, since it is on the right track.

[owm123]

I thought ETH had ring sigs ? 

https://www.reddit.com/r/ethtrader/comments/47v17v/1220000_eth_hit_poloniex_wallet_20_hours_ago/

where did you read that? of course they don't. they have the ability to add ring sigs on top of it, just like a highway has the ability to transport cars and trucks.

Maybe from here:
http://ethereum.stackexchange.com/questions/1660/are-linkable-ring-signatures-available-in-ethereum

[Johnny Mnemonic]

My fear is that we will miss this black swan event, because (among other things) we have no official gui, and only a tiny exchange called Poloniex.

According to coinmarketcap, Poloniex is currently the third largest exchange by volume: (earlier it was number 2)

http://coinmarketcap.com/exchanges/volume/24-hour/

EDIT: just realized this exact reply was already made. Oh well.

[boolberry]

My fear is that we will miss this black swan event, because (among other things) we have no official gui, and only a tiny exchange called Poloniex. Will these issues be resolved before China’s move towards capital controls becomes a fait accompli?

I dont really see Poloniex as a tiny exchange. I am to lazy to check any stats, but i think Poloniex maybe was tiny a year ago, but for sure will not be tiny year from now, since it is on the right track.

Poloniex is not a tiny exchange but it cannot serve everyone. More exchanges all over the world should be encouraged to support Monero

[e-coinomist]

Unfair to shame an obvious Monero supporter, who may be unable to do the coding or lobbying which needs to be done. I can’t do it either. Which is why I refrain from commenting, usually. Because I do feel guilty about not doing these things, which, btw, I CAN’T do anyway. I don’t sing the national anthem at the Superbowl either, and anyone with ears should be grateful for that.

Oh come on, it's loud enuf so bystanders will not necessarily need to pull a Vincent van Gogh.
( http://en.wikipedia.org/wiki/Vincent_van_Gogh search for "ear" )

What do Warren Buffet’s stockholders do for Berkshire Hathaway?

HODl

Not so much. Even Dogecoin is! Such sad, Very Despair.

Dont.

[TrueCryptonaire]

Today is the day when the emission of Monero is sub 10 000 XMR/day for the first time.

[hiddensphinx]

Did that big wall at 200,000 sat  get eaten?