[XMR] Monero Speculation

[Hueristic]

Ring Confidential Transactions (CT) for Monero: A work in progress, comments welcome

https://github.com/ShenNoether/MiniNero/blob/master/RingCT0.1_copy.pdf

https://www.reddit.com/r/Monero/comments/3oi16k/ring_ct_for_monero_a_work_in_progress_comments/

Started to read, realized I'm too stupid to follow it. Hope it is what's it's purported to be.

...

But wouldn't this give a Mt. Gox effect on the prices of all altcoins?  If people on Polo were on the inside, and maybe be using to pump some prices of altcoin, maybe Monero, wouldn't it have some kind of negative effect?  Not only that, but in a years time there will be another site that would do basically the same things?  It just seems like exchange sites are always dealt with some type of shady business.

If Gox had been investigated earlier maybe it would not have got so out of hand.

BTW I was a huge fan of POLO until they pulled that compliance thing without much notice. Now I barley use any exchanges.

[1715543998]

1715543998

[1715543998]

1715543998

[ArticMine]

There may be a Goxing going on at Cryptsy.  From the DASH thread https://bitcointalk.org/index.php?topic=421615.msg12671376#msg12671376

Please to upvote my post warning about problems with Cryptsy withdrawals since the 5th Oct:

https://www.reddit.com/r/Bitcoin/comments/3nkotr/cryptsy_responds_to_coinfire

Otohs 1 point 26 minutes ago

I had over $50,000 on Cryptsy on the 5th Oct, I sold (at a loss) for BTC, LTC & DASH, I was able to withdraw the 8,433 DASH, but the 2,886 LTC & 76.24 BTC have been stuck there for over one week, I was then locked out of my account and dealing with support has been a nightmare, fobbed off with "you're in a queue" or ignored mostly.

I would not advise risking any funds there atm.

Will update on developments...

...

[smoothie]

There may be a Goxing going on at Cryptsy.  From the DASH thread https://bitcointalk.org/index.php?topic=421615.msg12671376#msg12671376

Please to upvote my post warning about problems with Cryptsy withdrawals since the 5th Oct:

https://www.reddit.com/r/Bitcoin/comments/3nkotr/cryptsy_responds_to_coinfire

Otohs 1 point 26 minutes ago

I had over $50,000 on Cryptsy on the 5th Oct, I sold (at a loss) for BTC, LTC & DASH, I was able to withdraw the 8,433 DASH, but the 2,886 LTC & 76.24 BTC have been stuck there for over one week, I was then locked out of my account and dealing with support has been a nightmare, fobbed off with "you're in a queue" or ignored mostly.

I would not advise risking any funds there atm.

Will update on developments...

...

Looks like about half of his money is still stuck on craptsy.

If you don't hold it you don't own it.

[ArticMine]

...

Looks like about half of his money is still stuck on craptsy.

If you don't hold it you don't own it.

My theory: There may still be some exit coins left on Cryptsy. DASH, Ripple,  Dodgecoin,  Ether but not not Bitcoin or Litecoin

I have similar experience with Cryptsy. Though for 0.75 BTC but same. And support disappeared 3 days ago. 7 days waiting...

I just don't have these issues with Cryptsy
I put 1.0 DASH in today and pull out 1.12..DASH a few minutes later
I understands it's less than $5USD
You think that maybe they are manually processing 'larger' amounts?
or worse
Using your coins to make 'money' for themselves?
anything is possible....

Or simply they ran out of XBT and LTC but not of DASH. I smell the ghost of Gox 2.0 here. The trick is to figure out what currencies they still have left, sell for those and get out. The fact that they locked Otoh's account is a real red flag. Mt Gox allowed me to reverse my pending CAD withdrawal, which I managed to convert to XBT and get out at a profit due to the Silk Road seizure in 2013. If they are in trouble they may want to prevent this kind of thing.

[e-coinomist]

My theory: There may still be some exit coins left on Cryptsy. DASH, Ripple,  Dodgecoin,  Ether but not not Bitcoin or Litecoin

Interesting concept, "exit coins" could become a solid investment opportunity (short timespan) until Cryptsy's breath becomes shallow

[jehst]

My theory: There may still be some exit coins left on Cryptsy. DASH, Ripple,  Dodgecoin,  Ether but not not Bitcoin or Litecoin

Interesting concept, "exit coins" could become a solid investment opportunity (short timespan) until Cryptsy's breath becomes shallow

Cryptsy's breath is shallow

[Spoetnik]

i heard about Gox the main problem was they ran a custom back end wallet which was problematic
and eventually they started fudging the books toying with things then when guys got spooked
they didn't have the capital to pay out so many withdrawls and eventually Mark threw a story out about hackers
when in reality he had the coins and knew exactly what the problem was..
NOTE: He had his lawyer admit he found something like 200,000 Bitcoins or something on a USB drive he said he "found in his couch"
AFTER he claimed hackers stole the coins (back around when Gox closed)

cryptsy ?
i think they have had similar problems over the last few years.. i have seen many times that BTC withdrawls will
end up frozen on people when it rocketed up in price.. this got so notorious before i started predicting it..
i would pull my coins out then tell others and then say i told you so afterwards.
i have also seen other fishy account freezing going on before..
what happened only they know but many warning signs point to them not being as honest as they claim to be
I stopped using them and never went back when i was fed some bs excuses when my coins vanished before while i was arb'ing
as soon as some coin exploded in value.. bam ! transfer problems and when i asked i was told their was a fork
and i went to every other exchange and all the other users and not 1 person on the internet so much as hinted at a fork..
BitJohn lied to me i think on Cryptsy chat about it and only after i badgered him about it..
I was on chat for hours and every once in a while i would ask if anyone else was waiting for coins too.. (they were ignoring me on chat playing dumb)
Eventually i was threatened to shut up about it or i'd be booted (they wanted the problem to be quiet)
I am certain they were simply freezing access to peoples coins so they could take advantage of the pump on the coin
by doing their own arb'ing.. with MY coins !
I came here and complained about it and said hey Cryptsy.. that is OUR money not yours your holding
Don't you god damn ever forget that !
so.. i left and i never did trust them and i have seen them pull a lot of shady sketchy shit over the years.
Holding large amounts of coins on there is very dumb i figure.

[LucyLovesCrypto]

i heard about Gox the main problem was they ran a custom back end wallet which was problematic
and eventually they started fudging the books toying with things then when guys got spooked
they didn't have the capital to pay out so many withdrawls and eventually Mark threw a story out about hackers
when in reality he had the coins and knew exactly what the problem was..
NOTE: He had his lawyer admit he found something like 200,000 Bitcoins or something on a USB drive he said he "found in his couch"
AFTER he claimed hackers stole the coins (back around when Gox closed)

cryptsy ?
i think they have had similar problems over the last few years.. i have seen many times that BTC withdrawls will
end up frozen on people when it rocketed up in price.. this got so notorious before i started predicting it..
i would pull my coins out then tell others and then say i told you so afterwards.
i have also seen other fishy account freezing going on before..
what happened only they know but many warning signs point to them not being as honest as they claim to be
I stopped using them and never went back when i was fed some bs excuses when my coins vanished before while i was arb'ing
as soon as some coin exploded in value.. bam ! transfer problems and when i asked i was told their was a fork
and i went to every other exchange and all the other users and not 1 person on the internet so much as hinted at a fork..
BitJohn lied to me i think on Cryptsy chat about it and only after i badgered him about it..
I was on chat for hours and every once in a while i would ask if anyone else was waiting for coins too.. (they were ignoring me on chat playing dumb)
Eventually i was threatened to shut up about it or i'd be booted (they wanted the problem to be quiet)
I am certain they were simply freezing access to peoples coins so they could take advantage of the pump on the coin
by doing their own arb'ing.. with MY coins !
I came here and complained about it and said hey Cryptsy.. that is OUR money not yours your holding
Don't you god damn ever forget that !
so.. i left and i never did trust them and i have seen them pull a lot of shady sketchy shit over the years.
Holding large amounts of coins on there is very dumb i figure.

I cant wait for true decentralized blockchain based exchanges with liquidity.  The have been far too many hacks at various exchanges to trust them with a large amount.

[iCEBREAKER]

There may be a Goxing going on at Cryptsy.  From the DASH thread https://bitcointalk.org/index.php?topic=421615.msg12671376#msg12671376

Please to upvote my post warning about problems with Cryptsy withdrawals since the 5th Oct:

https://www.reddit.com/r/Bitcoin/comments/3nkotr/cryptsy_responds_to_coinfire

Otohs 1 point 26 minutes ago

I had over $50,000 on Cryptsy on the 5th Oct, I sold (at a loss) for BTC, LTC & DASH, I was able to withdraw the 8,433 DASH, but the 2,886 LTC & 76.24 BTC have been stuck there for over one week, I was then locked out of my account and dealing with support has been a nightmare, fobbed off with "you're in a queue" or ignored mostly.

I would not advise risking any funds there atm.

Will update on developments...

...

Looks like about half of his money is still stuck on craptsy.

If you don't hold it you don't own it.

Aww, poor Otoh.  I feel so bad for him.

If only he had some kind of warning CrapSea is a scam exchange focused on scamcoins like Dash...

Oh wait...

CrapSea is welcome to shun Monero for as long as they please.  That place is so scamcoin friendly (#1 Darkcoin volume and in bed with GAW/Paycoin) it would make XMR look bad to be seen there.

This, with capital T H I & S.

https://www.cryptsy.com/markets/view/505

Lulz.... dont trust  your coins to that exchange they are terrible... but congrats on the add

We warn people and they just don't do a search. :rolleyes:

#R3KT

[digicoin]

Ring Confidential Transactions (CT) for Monero: A work in progress, comments welcome

https://github.com/ShenNoether/MiniNero/blob/master/RingCT0.1_copy.pdf

https://www.reddit.com/r/Monero/comments/3oi16k/ring_ct_for_monero_a_work_in_progress_comments/

What is it about, ELI5?

So far we had:
Ring sig as in Monero -> Obfuscate the sender, amount visible
Confidential transaction by gmaxwell -> Hide amount, sender visible

Now we have both together. Moar privacy

This seems like a really elegant and useful work, I'm super grateful to Shen.

Is it doable? Should we raise fund to implement it?

[XMRpromotions]

Ring Confidential Transactions (CT) for Monero: A work in progress, comments welcome

https://github.com/ShenNoether/MiniNero/blob/master/RingCT0.1_copy.pdf

https://www.reddit.com/r/Monero/comments/3oi16k/ring_ct_for_monero_a_work_in_progress_comments/

What is it about, ELI5?

So far we had:
Ring sig as in Monero -> Obfuscate the sender, amount visible
Confidential transaction by gmaxwell -> Hide amount, sender visible

Now we have both together. Moar privacy

This seems like a really elegant and useful work, I'm super grateful to Shen.

Is it doable? Should we raise fund to implement it?

People are talking about CT being great for bitcoin privacy. Think about how much better it will be when combined with CryptoNote!

[generalizethis]

Ring Confidential Transactions (CT) for Monero: A work in progress, comments welcome

https://github.com/ShenNoether/MiniNero/blob/master/RingCT0.1_copy.pdf

https://www.reddit.com/r/Monero/comments/3oi16k/ring_ct_for_monero_a_work_in_progress_comments/

What is it about, ELI5?

So far we had:
Ring sig as in Monero -> Obfuscate the sender, amount visible
Confidential transaction by gmaxwell -> Hide amount, sender visible

Now we have both together. Moar privacy

This seems like a really elegant and useful work, I'm super grateful to Shen.

Is it doable? Should we raise fund to implement it?

People are talking about CT being great for bitcoin privacy. Think about how much better it will be when combined with CryptoNote!

Yes, no meta connections is better than possible meta connections. 

[smoothie]

Ring Confidential Transactions (CT) for Monero: A work in progress, comments welcome

https://github.com/ShenNoether/MiniNero/blob/master/RingCT0.1_copy.pdf

https://www.reddit.com/r/Monero/comments/3oi16k/ring_ct_for_monero_a_work_in_progress_comments/

What is it about, ELI5?

So far we had:
Ring sig as in Monero -> Obfuscate the sender, amount visible
Confidential transaction by gmaxwell -> Hide amount, sender visible

Now we have both together. Moar privacy

This seems like a really elegant and useful work, I'm super grateful to Shen.

Is it doable? Should we raise fund to implement it?

People are talking about CT being great for bitcoin privacy. Think about how much better it will be when combined with CryptoNote!

Yes, no meta connections is better than possible meta connections. 

That CT monero paper is pretty intense. I got to page 5 and had to slow down. Lots of symbols, subscripts/super scripts, variables.

Even some of the terminology of "commitments" I had to look up in relation to cryptography.

[Harpua]

Who made the CT paper for monero? Was it smooth or someone else in relation to the core dev team? I haven't even bothered to try reading it because there's no chance I would be able to comprehend it... Is there a dumbed down version?

[smoothie]

Who made the CT paper for monero? Was it smooth or someone else in relation to the core dev team? I haven't even bothered to try reading it because there's no chance I would be able to comprehend it... Is there a dumbed down version?

The TL;DR is - CT will add a "Amount Key" for viewing amounts being sent in transactions.


So you would have a view key, spend key, amount key.

[Harpua]

Who made the CT paper for monero? Was it smooth or someone else in relation to the core dev team? I haven't even bothered to try reading it because there's no chance I would be able to comprehend it... Is there a dumbed down version?

The TL;DR is - CT will add a "Amount Key" for viewing amounts being sent in transactions.


So you would have a view key, spend key, amount key.

But realistically, if you wanted to make a purchase from someone, you would have to provide the retailer the view/amount key right? Or atleast the amount key so he knows he's getting paid in full for his product or service right?

[smoothie]

Who made the CT paper for monero? Was it smooth or someone else in relation to the core dev team? I haven't even bothered to try reading it because there's no chance I would be able to comprehend it... Is there a dumbed down version?

The TL;DR is - CT will add a "Amount Key" for viewing amounts being sent in transactions.


So you would have a view key, spend key, amount key.

But realistically, if you wanted to make a purchase from someone, you would have to provide the retailer the view/amount key right? Or atleast the amount key so he knows he's getting paid in full for his product or service right?

Right the receiver would need to be able to see the amount sent to them.

In theory that is what I believe makes sense.

I'm on page 6 of CT for Monero and I'm lost... anyone care to explain what is going on in detail on page 6. It is a proof but damn it is super wordy and lots of symbols being thrown left and right. 

[americanpegasus]

I tried to read that paper and it was above above my head. 
 
I had a vague grasp of the first couple of pages where he discusses running points on the Cryptonote elliptic curve through a new special function.... then he goes in summations of transactions and I got lost.  I understood the tl;dr as making Monero privacy better than ever by way of mixing transactions with hidden amounts, but the details are beyond my education. 
 
I'm also following a little of what you guys are saying about the 'amount' key.  Would this also allow people to show individual transactions vs. the history of an entire address?

[papa_lazzarou]

Ring Confidential Transactions (CT) for Monero: A work in progress, comments welcome

https://github.com/ShenNoether/MiniNero/blob/master/RingCT0.1_copy.pdf

https://www.reddit.com/r/Monero/comments/3oi16k/ring_ct_for_monero_a_work_in_progress_comments/

What is it about, ELI5?

So far we had:
Ring sig as in Monero -> Obfuscate the sender, amount visible
Confidential transaction by gmaxwell -> Hide amount, sender visible

Now we have both together. Moar privacy

This seems like a really elegant and useful work, I'm super grateful to Shen.

Don't forget stealth addresses for each output -> Hide the receiver.

So SA+RS+CT = Hidden Sender, Hidden Amount and Hidden Receiver.

Edit: Looks like its even more than that. As the author (ShenNoether) put it:

Amounts would now be hidden so your set of potential ring partners is much larger.

and

... it will mean hidden amounts, origins, and destinations, while viewkeys will still work, and of course it will still be auditable.

[papa_lazzarou]

Ring Confidential Transactions (CT) for Monero: A work in progress, comments welcome

https://github.com/ShenNoether/MiniNero/blob/master/RingCT0.1_copy.pdf

https://www.reddit.com/r/Monero/comments/3oi16k/ring_ct_for_monero_a_work_in_progress_comments/

What is it about, ELI5?

So far we had:
Ring sig as in Monero -> Obfuscate the sender, amount visible
Confidential transaction by gmaxwell -> Hide amount, sender visible

Now we have both together. Moar privacy

This seems like a really elegant and useful work, I'm super grateful to Shen.

Is it doable? Should we raise fund to implement it?

The author says its a work in progress. So not ready for prime time yet.

Edit: Also, I believe stuff like this has to pass a lot of scrutiny before it is implemented. This is not your regular lets-add-it-and-then-we-will-see-if-it-works snake oil stuff.