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Author Topic: [XMR] Monero Speculation  (Read 3308080 times)
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OrangeP
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January 24, 2017, 08:08:26 AM
 #26641


"All countries are advised to consider the creation of the crime of unexplained wealth."

whoa!

That crime is only reserved for the non-elite.

We live in a broken world where the rules only apply to those that don't own 95% of the world's wealth.

Sadly this is absolutely true.

Yes. Crypto is the first thing, in over 30 years observing this illusion, which has got me truly excited. Short of widespread armed rebellion which I cant really morally support. Henchmen are people too...(;-)
But crypto is smarter than that. It is as subversive as the written word and quite mighty because it is powered by the very control grid it subverts. Brilliant. A word much overused but not in this instance.

All it needs is a large enough group of people to trust it as a store of value and agree on it. Once it is secure and anonymous and gets critical mass it cant be stopped. We are just about there.

Bitcoin however could result in the ultimate control grid for the sheep so I am wary of it going deeply mainstream. An almighty self auditing administrator of finance & property with many secondary layers which can all be nullified at the source. Pretty good virtualisation of the self governing sheep and sowjet russia's wet dream. So it worries me on some level.
 
Ergo:
We need Monero or the like. Its not a massive scope in terms of functionality required, so first mover advantage is distinct as long as the quality is there. Defining quality as fit for the intended purpose here, which is private financial activity to the level I choose and which I take responsibility for.

Not belittling efforts here at all but it is a 'simple' problem where any elegant solution is simple by necessity. There is no need to become the eierlegende Wollmilchsau (look it up - some lol images too) a la ETH  by trying to be everything to all people. That place is occupied by Microsoft ,need I say more.

2017 will be the year the btc blockchain will be reigned in and domesticated imho. It might well go moon after that but under strict supervision and only then.

So the the time to shine is soon for the project which protects the original vision and defends an absolute human right in this world. That of financial privacy and protection of wealth.

Clearly Monero is in a great position to be best out of the block.

First mover advantage is distinct as long as the quality is there. It will be quite a scramble to move the 1000 rupiah coins to safe haven once the collective light comes on.

At the moment Monero is head and shoulders above current offerings and with the future vision of Kovri and so on I can see a mostly bright future with only the odd terror thrown in.

In my opinion Monero is the natural progression of the original vision of crypto. For me this means responsible people being sovereign administrator over their finances and private lives. This does not ever imply illegality nor tax evasion. All dues can be paid well and proper. \
But my wealth, my habits, my whereabouts is only the business of myself and those that I choose to let know. End of story.

This sounds like a decent speech Wink

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January 24, 2017, 10:50:27 AM
 #26642

Is there any news about monero latest exploit Huh https://www.reddit.com/r/Monero/comments/5ptm2y/security_avisory_common_exploit_in_monero_miners/

i wonder what this means to monero future with all the botnet in the wild which might be affected by this exploit Huh  i wonder if this was intentional exploit right from the start to undermine monero's anonimity Huh

and... back to topic, what would monero do to fix this exploit ? assuming that botnet miner which affected by this could do 51% attack on the network Huh  should monero change algo ? anyone?

"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...",  satoshi@vistomail.com
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January 24, 2017, 11:06:31 AM
 #26643

How much you predict monero will drop before next pump? under 11$??
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January 24, 2017, 11:36:59 AM
 #26644

Is there any news about monero latest exploit Huh https://www.reddit.com/r/Monero/comments/5ptm2y/security_avisory_common_exploit_in_monero_miners/

i wonder what this means to monero future with all the botnet in the wild which might be affected by this exploit Huh  i wonder if this was intentional exploit right from the start to undermine monero's anonimity Huh

and... back to topic, what would monero do to fix this exploit ? assuming that botnet miner which affected by this could do 51% attack on the network Huh  should monero change algo ? anyone?

you seem overly Huh

"If you only own Monero - don't panic. The attack has nothing to do with Monero code. It can't be fixed by the Monero devs because they don't write the miners, but even a 51% attacker won't be able to steal your coins. Worst risk for you is disruption to Monero.
If you mine Monero - do panic. Nearly every miner out there is vulnerable. For open source miners 'grep -r 76' will tell you if they are using a magic number to determine the work length. If you see that number, the code likely to be vulnerable."

So, I wouldn't Huh too much

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January 24, 2017, 01:13:05 PM
 #26645

Is there any news about monero latest exploit Huh https://www.reddit.com/r/Monero/comments/5ptm2y/security_avisory_common_exploit_in_monero_miners/

i wonder what this means to monero future with all the botnet in the wild which might be affected by this exploit Huh  i wonder if this was intentional exploit right from the start to undermine monero's anonimity Huh

and... back to topic, what would monero do to fix this exploit ? assuming that botnet miner which affected by this could do 51% attack on the network Huh  should monero change algo ? anyone?
Quote
If you only own Monero - don't panic. The attack has nothing to do with Monero code. It can't be fixed by the Monero devs because they don't write the miners, but even a 51% attacker won't be able to steal your coins. Worst risk for you is disruption to Monero.

If you mine Monero - do panic. Nearly every miner out there is vulnerable. For open source miners 'grep -r 76' will tell you if they are using a magic number to determine the work length. If you see that number, the code likely to be vulnerable.

You can test your miners by connecting to a simulated pool that I set up:

    simpool.xmr-stak.net:3333

The pool is not connected to Monero network - it will just verify that the hash that you sent is correct. Symptoms of a vulnerable miner are rejected shares or disconnects after a share is found.

“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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January 24, 2017, 01:16:14 PM
Last edit: January 24, 2017, 01:26:51 PM by phoenix rises
 #26646

Is there any news about monero latest exploit Huh https://www.reddit.com/r/Monero/comments/5ptm2y/security_avisory_common_exploit_in_monero_miners/

i wonder what this means to monero future with all the botnet in the wild which might be affected by this exploit Huh  i wonder if this was intentional exploit right from the start to undermine monero's anonimity Huh

and... back to topic, what would monero do to fix this exploit ? assuming that botnet miner which affected by this could do 51% attack on the network Huh  should monero change algo ? anyone?

you seem overly Huh

"If you only own Monero - don't panic. The attack has nothing to do with Monero code. It can't be fixed by the Monero devs because they don't write the miners, but even a 51% attacker won't be able to steal your coins. Worst risk for you is disruption to Monero.
If you mine Monero - do panic. Nearly every miner out there is vulnerable. For open source miners 'grep -r 76' will tell you if they are using a magic number to determine the work length. If you see that number, the code likely to be vulnerable."

So, I wouldn't Huh too much


According to that thread there is also a quite trivial fix that pools can implement to avoid this exploit until it the mining software is patched, and it seems all relevant parties have been notified, so personally, not concerned, and grateful that it has been spotted now.

If someone tried this now that it is in the public domain, it would be very clear to all what was happening as the blocksize would be necessarily be increasing at an abnormally fast rate to get to a level at which it was profitable. With as many eyes on this project as there are, I trust that a short-term solution would be found before the attack got this far.

In short, most likely anyone attempting this now would likely be giving away money.

So yeh, I'm with Nano on this  Wink ... less  Huh
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January 24, 2017, 03:22:26 PM
 #26647


"All countries are advised to consider the creation of the crime of unexplained wealth."

whoa!

"All countries are advised to take action against Digital Currencies Mixers/Tumblers. Such services are designed exclusively to anonymize transactions and to make it impossible for Law Enforcement Agencies to detect and trace suspicious transactions. The existence of such companies should not continue to be tolerated"

Didn't see this discussed. Sounds like an explicit call to outlaw Monero.

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January 24, 2017, 04:44:46 PM
 #26648


"All countries are advised to consider the creation of the crime of unexplained wealth."

whoa!

"All countries are advised to take action against Digital Currencies Mixers/Tumblers. Such services are designed exclusively to anonymize transactions and to make it impossible for Law Enforcement Agencies to detect and trace suspicious transactions. The existence of such companies should not continue to be tolerated"

Didn't see this discussed. Sounds like an explicit call to outlaw Monero.


No country could stop Monero. And btw Monero doesn't need third party mixers like every other coin. It has an integrated mixer which means it is a self sustainable ecosystem.
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January 24, 2017, 05:48:03 PM
 #26649


"All countries are advised to consider the creation of the crime of unexplained wealth."

whoa!

"All countries are advised to take action against Digital Currencies Mixers/Tumblers. Such services are designed exclusively to anonymize transactions and to make it impossible for Law Enforcement Agencies to detect and trace suspicious transactions. The existence of such companies should not continue to be tolerated"

Didn't see this discussed. Sounds like an explicit call to outlaw Monero.



It's talking about mixers and companies that run them.  Monero is not mentioned, so it's not an explicit threat at all.  It's about BTC being laundered through mixers and tumblers.  Monero doesn't need them.

The eyebrow raising bit is the suggestion that 'unexplained wealth' should become a crime.

We aren't far off that in some places in the world already - but I suspect this is good for Monero in the long run as Bitcoin is easily followed, Monero not so.  Which is why when I lost most of my Monero in a boating accident there was nothing much I, or anyone else in the world could do about it. Or will be able to do about it in the foreseeable future.

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January 24, 2017, 06:36:59 PM
 #26650


"All countries are advised to consider the creation of the crime of unexplained wealth."

whoa!

"All countries are advised to take action against Digital Currencies Mixers/Tumblers. Such services are designed exclusively to anonymize transactions and to make it impossible for Law Enforcement Agencies to detect and trace suspicious transactions. The existence of such companies should not continue to be tolerated"

Didn't see this discussed. Sounds like an explicit call to outlaw Monero.



It's talking about mixers and companies that run them.  Monero is not mentioned, so it's not an explicit threat at all.  It's about BTC being laundered through mixers and tumblers.  Monero doesn't need them.

They seem to consider the real threat being anonymous transactions and not mixers neither tumblers per se. Monero, being anonymous, will consequently also be considered a threat, and if mixers/tumblers are targeted, Monero will probably be too at some point.

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January 24, 2017, 06:50:40 PM
 #26651


"All countries are advised to consider the creation of the crime of unexplained wealth."

whoa!

"All countries are advised to take action against Digital Currencies Mixers/Tumblers. Such services are designed exclusively to anonymize transactions and to make it impossible for Law Enforcement Agencies to detect and trace suspicious transactions. The existence of such companies should not continue to be tolerated"

Didn't see this discussed. Sounds like an explicit call to outlaw Monero.



It's talking about mixers and companies that run them.  Monero is not mentioned, so it's not an explicit threat at all.  It's about BTC being laundered through mixers and tumblers.  Monero doesn't need them.

They seem to consider the real threat being anonymous transactions and not mixers neither tumblers per se. Monero, being anonymous, will consequently also be considered a threat, and if mixers/tumblers are targeted, Monero will probably be too at some point.
Agree. I expect Monero will be catching a lot of "heat" in the next few years. It'll be good. It'll take the pressure off Bitcoin.
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January 24, 2017, 07:41:30 PM
 #26652

Hi guys,

I know this is the speculation thread but maybe u can help me. I'm planning on starting mining Monero. I want to build a rig that works between 4000 and 4500 hash rate. My question to u guys is what is the link between the bblock reward and the actuall Monero Price? If Monero Price goes up, then block reward goes down?

Thx
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January 24, 2017, 07:54:53 PM
 #26653

Hi guys,

I know this is the speculation thread but maybe u can help me. I'm planning on starting mining Monero. I want to build a rig that works between 4000 and 4500 hash rate. My question to u guys is what is the link between the bblock reward and the actuall Monero Price? If Monero Price goes up, then block reward goes down?

Thx

Trivially there is no link between the price and blockreward.
However, when the block reward goes down it is easier to pump the price to the Moon.
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January 24, 2017, 10:44:27 PM
 #26654

Hi guys,

I know this is the speculation thread but maybe u can help me. I'm planning on starting mining Monero. I want to build a rig that works between 4000 and 4500 hash rate. My question to u guys is what is the link between the bblock reward and the actuall Monero Price? If Monero Price goes up, then block reward goes down?

Thx

Trivially there is no link between the price and blockreward.
However, when the block reward goes down it is easier to pump the price to the Moon.

Did you have to use the word 'pump'?  This is not a centralised, pump and dump, pre-mined scam. This is Monero.

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January 25, 2017, 02:57:39 AM
 #26655

I found this hidden a way in another thread and thought my monero-peeps would be interested: the honeybadger's hash rate has gone crazy over the last month, which is strange considering the direction of the price over the same period.

https://blockchain.info/charts/hash-rate?timespan=30days

Suggests we are due another spike upwards on BTC/USD and what how may that impact on XMR?

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January 25, 2017, 06:57:16 AM
 #26656

I found this hidden a way in another thread and thought my monero-peeps would be interested: the honeybadger's hash rate has gone crazy over the last month, which is strange considering the direction of the price over the same period.

https://blockchain.info/charts/hash-rate?timespan=30days

Suggests we are due another spike upwards on BTC/USD and what how may that impact on XMR?

Market jittery as no one knows what the volume drop in China will mean.  No BTC spike likely with Chinese new Year coming up, either - drifting down (or sideways if we're lucky).  This dip doesn't seen to have helped XMR price much.   Frankly I have no clue, I was hoping we'd collect a few more friends as BTC looks bearish.

I hope we will spike up once the XMR miner bug is sorted and forgotten.  We should breakout in February, traditionally we have  Wink

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January 25, 2017, 06:58:56 AM
 #26657

The fact that Charlie Lee is positive about XMR is a good sign too:

https://twitter.com/SatoshiLite/status/823679389401387009

Imagine what would happen if Coinbase starts supporting XMR  Shocked.
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January 25, 2017, 07:19:15 AM
 #26658

The fact that Charlie Lee is positive about XMR is a good sign too:

https://twitter.com/SatoshiLite/status/823679389401387009

Imagine what would happen if Coinbase starts supporting XMR  Shocked.

Loving his take on Dash:
"Unfair instamined launch. Semi-centralized master nodes. Weak privacy. Marketing over tech. Not my cup of tea TBH."

ouch

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January 25, 2017, 08:48:00 AM
 #26659

The fact that Charlie Lee is positive about XMR is a good sign too:

https://twitter.com/SatoshiLite/status/823679389401387009

Imagine what would happen if Coinbase starts supporting XMR  Shocked.

Loving his take on Dash:
"Unfair instamined launch. Semi-centralized master nodes. Weak privacy. Marketing over tech. Not my cup of tea TBH."


ouch



I guess that means Coinbase isn't in any hurry to add Dash....  Cheesy


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January 25, 2017, 09:40:54 AM
Last edit: January 25, 2017, 10:12:32 AM by kurious
 #26660

The fact that Charlie Lee is positive about XMR is a good sign too:

https://twitter.com/SatoshiLite/status/823679389401387009

Imagine what would happen if Coinbase starts supporting XMR  Shocked.

Loving his take on Dash:
"Unfair instamined launch. Semi-centralized master nodes. Weak privacy. Marketing over tech. Not my cup of tea TBH."


ouch


He tells it like it is, which makes his positive take on XMR all the more flattering.






I guess that means Coinbase isn't in any hurry to add Dash....  Cheesy

Ha! Nope.  I can't understand why Dash isn't fading away - even Bitfinex dropped it in favour of XMR. But then there is so much snake oil out there that seems to keep trundling along...  

Eventually as things evolve, there will be a 'blue chip' set of coins and a secondary market of 'also rans' much like stock market listings - probably based upon a market cap cut-off, which in turn will be based upon usage and credibilty, ETF availability etc.  

It's pretty brutal as it stands, a de-listing from Polo is death for most coins, but with so many out there, it's a Darwinian struggle.

EDIT: for sense and quote order

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