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Author Topic: [XMR] Monero Speculation  (Read 3307418 times)
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October 27, 2016, 03:43:56 PM
 #24561


I usually never spotted any kind of critics on the zcash forum. Look over at twitter/reddit/trollbox/tradingview chat etc. nobody likes the idea that 6 guys did the trusted setup together days ago already.
In this setup one has to trust, that they won`t print money. No thanks.

They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!
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October 27, 2016, 05:12:42 PM
 #24562


I usually never spotted any kind of critics on the zcash forum. Look over at twitter/reddit/trollbox/tradingview chat etc. nobody likes the idea that 6 guys did the trusted setup together days ago already.
In this setup one has to trust, that they won`t print money. No thanks.

They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!

Craig Wright is not trust worthy. The Gavin Andresen is more trustble. But unfortunately he endorsed Craig.

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October 27, 2016, 05:13:25 PM
 #24563


I usually never spotted any kind of critics on the zcash forum. Look over at twitter/reddit/trollbox/tradingview chat etc. nobody likes the idea that 6 guys did the trusted setup together days ago already.
In this setup one has to trust, that they won`t print money. No thanks.

They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!

Lol are you serious?

If not that was a good joke.  Smiley

███████████████████████████████████████

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
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October 27, 2016, 05:16:16 PM
 #24564

https://github.com/zcash/mpc/blob/master/README.md

Link to Zcash trusted set up protocol and 'participants'

I know its' not XMR, but it's what people are talking about ... (delete if you think it should not be here  Wink  )


They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!

Lol  Cheesy
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October 27, 2016, 05:43:26 PM
 #24565


I usually never spotted any kind of critics on the zcash forum. Look over at twitter/reddit/trollbox/tradingview chat etc. nobody likes the idea that 6 guys did the trusted setup together days ago already.
In this setup one has to trust, that they won`t print money. No thanks.

They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!

Now that's just mean, we've all been bamboozled by a fake Satoshi or two.  ROTFLMFAO.

Newsflash: Trusted 3rd parties are security holes.

Yes, even if that trusted 3rd party is named "Peter Todd."


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October 27, 2016, 05:49:49 PM
 #24566


I usually never spotted any kind of critics on the zcash forum. Look over at twitter/reddit/trollbox/tradingview chat etc. nobody likes the idea that 6 guys did the trusted setup together days ago already.
In this setup one has to trust, that they won`t print money. No thanks.

They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!

Lol are you serious?

If not that was a good joke.  Smiley

Of course that was a joke!  Didn't think I needed a /s on the Monero Speculation board!

Although the underlying point was that Craig managed to convince a reputed bitcoin guy that he was Satoshi using cryptographic sleight of hand.  So not impossible to think someone couldn't do the same to 6 other crypto dudes (or even just 4, given 2 of the 6 were Zcash principals (Zooko, and Andrew Miller, an "Advisor" to Zcash).  (And, ironically, another advisor to Zcash IS none other than Gavin.)

Looking forward to seeing Peter Todd's write up of the process over the coming days.  But I've already seen one reference to "boxes of new computers", which was the same claim made by Craig Wright.  http://spectrum.ieee.org/tech-talk/computing/networks/zcash-truly-anonymous-blockchainbased-cryptocurrency
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October 27, 2016, 06:06:33 PM
 #24567

Their trusted setup is laughable.

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October 27, 2016, 06:10:53 PM
 #24568


I usually never spotted any kind of critics on the zcash forum. Look over at twitter/reddit/trollbox/tradingview chat etc. nobody likes the idea that 6 guys did the trusted setup together days ago already.
In this setup one has to trust, that they won`t print money. No thanks.

They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!

Now that's just mean, we've all been bamboozled by a fake Satoshi or two.  ROTFLMFAO.

Newsflash: Trusted 3rd parties are security holes.

Yes, even if that trusted 3rd party is named "Peter Todd."

Exactly, I wouldn't trust Jesus or his computer. How do we know they weren't bugged without their knowledge? Those systems were networked so how do we know they weren't compromised? It is impossible to have trust with that system.

“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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October 27, 2016, 06:12:50 PM
 #24569

Peter Todd also just tweeted this:

Quote
FWIW, I did the the ceremony knowing little about it.

https://twitter.com/petertoddbtc/status/791689486702784512

I think his point is may be that you don't want the witnesses to know too much about the process before hand, as it would give them more time to think about ways of compromising things.

But the flipside is that it means Zcash has no idea if Peter agrees that their process is as secure as they think it is.

If one of the six witnesses posts a blog describing the process and raises even the slightest concerns, won't that be disastrous?

And he isn't known for pulling punches, remember the coinbase doublespend:  https://www.reddit.com/r/Bitcoin/comments/40ejy8/peter_todd_with_my_doublespendpy_tool_with/cytlhh0/?context=10000
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October 27, 2016, 06:15:33 PM
 #24570

And now he's tweeted this:

Quote
Note disclaimer: My participation in the Zcash trusted setup ceremony should not be construed as an endorsement.

https://twitter.com/petertoddbtc/status/791702093748809729
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October 27, 2016, 06:28:27 PM
 #24571

So does Peter Todd have the blockchain genesis hash? Would be funny if there was a bait and switch going on as well. Smiley

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October 27, 2016, 06:41:54 PM
 #24572

I find what is actually going on right now with Bitcoin and its blocksize limit  as seen in this thread https://bitcointalk.org/index.php?topic=1661792.0;all to be far more relevant to the long term value of Monero, than this Z.Cash sideshow. By the way Z.Cash has the same fundamental blocksize issue as Bitcoin with only effectively an 8x larger blocksize.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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October 27, 2016, 06:52:40 PM
 #24573

I find what is actually going on right now with Bitcoin and its blocksize limit  as seen in this thread https://bitcointalk.org/index.php?topic=1661792.0;all to be far more relevant to the long term value of Monero, than this Z.Cash sideshow. By the way Z.Cash has the same fundamental blocksize issue as Bitcoin with only effectively an 8x larger blocksize.

So effectively a KickTheCanDownTheRoadCoin?

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           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
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October 27, 2016, 07:10:26 PM
 #24574

Zcash "sideshow" futures on bitmex now at 0.52.  https://www.bitmex.com/app/contract/ZECZ16
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October 27, 2016, 08:51:05 PM
Last edit: October 27, 2016, 09:58:34 PM by ArticMine
 #24575

...

So effectively a KickTheCanDownTheRoadCoin?

Yes. Very much so .An effective 8 MB blocksize based on 10 min blocks  (2.5 min blocks and 2 MB native blocksize)
For comparison
Bitcoin: 1 MB (native)
Litecoin: 4 MB (effective) 1 MB (native)
Dash: 4 MB (effective) 1 MB (native)

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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October 27, 2016, 11:16:15 PM
 #24576

Meh.

Shit's gonna get real.
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October 28, 2016, 12:12:58 AM
 #24577


They should have had Craig Wright and Gavin Andresen participate so we know it is really trustworthy!

You owe me a mouthful of coffee!
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October 28, 2016, 02:31:15 AM
 #24578

What happened to TrueCryptonaire??


The signs were clear a month ago... BTC was on the verge of a rise and alts would clearly get demolished. Some folks still don't learn



Bitcoin is now Pump that have a certain amount of drain at a higher price in November will drop to 400-500$ and maybe less altcoins the rest will go to the mountain.

Btc will rape the altcoins in November..... Prepare for carnage if you are not in btc and holding some worthless alts when btc breaks the last ATH and STAYS up there!

BTC will dump in Nov - Dec to unkown.


You have no idea what you're talking about

2017 is looking to be a better year than 2016

I am waiting for the Monero dump but apparently there is nobody willing to fill my bids anymore.  Cry

Well shit, TC, why didn't you say so. All I gots to do is buy more XMR and the price will drop right into your pocket!

j/k sort of. I am still bullish and way too much in...
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October 28, 2016, 03:30:18 AM
 #24579

One thing is sure. This rise provoked a growing spurt in Monero. Transactions are up, people checking Monero blockchain data are up 500% in just ONE of the blockexplorers available. We're getting there. I don't know if 5 bucks is the fair price for monero today, bu one thing is certain. It is much more valuable than in the beginning of 2016.

So, if you bought the top or close, don't worry. Many people did the same in 2014, and those who held did better than those who didn't. And the ones that averaged down did best. But try to improve your timing, okay?
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October 28, 2016, 04:29:41 AM
 #24580

What happened to TrueCryptonaire??


The signs were clear a month ago... BTC was on the verge of a rise and alts would clearly get demolished. Some folks still don't learn



Bitcoin is now Pump that have a certain amount of drain at a higher price in November will drop to 400-500$ and maybe less altcoins the rest will go to the mountain.

Btc will rape the altcoins in November..... Prepare for carnage if you are not in btc and holding some worthless alts when btc breaks the last ATH and STAYS up there!

BTC will dump in Nov - Dec to unkown.


You have no idea what you're talking about

2017 is looking to be a better year than 2016

I am waiting for the Monero dump but apparently there is nobody willing to fill my bids anymore.  Cry

Well shit, TC, why didn't you say so. All I gots to do is buy more XMR and the price will drop right into your pocket!

j/k sort of. I am still bullish and way too much in...

I buy when the price slides down. Monero likes down hill and it has always been like this. Monero usually drops 5-10 % and bounces after that 3-5 %  and thus the price slightly declines so it requires some patience and long term planning to acquire Moneros.
Every once and while (1-3 times a year) the price rises to the peak where it is possible to sell some coins. Dumping is not recommended at the peak because it lowers the amount of bitcoins you get from the buyers. Much better strategy is to put asks in front of the spot and waite until some bullish guy comes to pick them up. Never sell all your Moneros either because there is always potential to rise higher.
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