[XMR] Monero Speculation

[paratox]

https://www.reddit.com/r/Monero/comments/7xptw2/watch_out_for_mymonerocom_my_funds_got_stolen_on/

 

 how come ppl losing their xmr almost everyday at your official online wallet there

and what the fuzz about monerov  is it good coin  


i thinking about buying alot of it if they provide good solution toward monero's shortfall... u know Monero Enterprise alliance and stuff...  it sound like a centralization.

They claim that their coins were stolen. The same way I could claim they are lying about this to FUD monero. They can't prove I am wrong and I can't prove they are wrong.

I haven't heard from any credible member who got his coins stolen from mymonero. Most often rather new accounts are claiming their monero got stolen.

I have been very lax on security measures with a few mymonero wallets just to see if someone is gonna steal them. Nothing got stolen in the past 2 years.

The main takeaway is, don't trust webwallets with any coin. It is not like people ever stated that webwallets are secure.  It is just reckless behaviour on the side of the user to use them anyway . There are more secure alternatives available.

I'm sure there are a few Fudders but due to the shear volume of accounts hacked I doubt it is all bullshit/phishing or poor SECOP. I believe I know what it is but I've warned of it for years and no-one has taken me serious so whatever I could care at this point. Using any Webwallet for any amount your not prepared to lose is dumb, there have been credible members that have lost coins years ago and warned the community so if people don't listen then thats their problem. Also I see a concerted effort to keep these reports shuffled away and ignored. I have never seen an official release of proof of any investigation and/or resolution to even one theft. I think Birr has been waiting for 2 years for an explanation other than we don't keep logs.

I can't remember what it was you warned about. Are you talking about the theory that cloudfare could be responsible for the thefts? Seems like there was a short discussion about this possibility at reddit a couple of weeks ago -
 https://www.reddit.com/r/Monero/comments/7tc3za/a_theory_regarding_the_randomly_reported_thefts/

I went through past posts about the thefts and you are indeed right, there were some credible members who got a lot of money stolen from their mymonero wallet.

Maybe closing down mymonero wouldn't be a bad idea at this point in time? If I remember correctly, Fluffy already suggested to do this in the past, but some people were against it. But now we have more options for storage and with the impending release of the "official" android/iOs/hardware wallets, mymonero wont be needed anymore (IMO).

[1715383918]

1715383918

[aminorex]

BTC should see strong resistance at 10kUSD, which seems like a good time for XMRBTC to rise, since XMRUSD has no correlated psychological line.

Playing out this way...

So far, but .03 xmrbtc has been a strong resistance level, with only short, false breakouts.  Once again, into the fray!  With BTC 10k, that means xmr 300 is an emerging psychological line.  Pop that and we should rise steadily to 400 again.

[explorer]

https://www.reddit.com/r/Monero/comments/7xptw2/watch_out_for_mymonerocom_my_funds_got_stolen_on/

 

 how come ppl losing their xmr almost everyday at your official online wallet there

and what the fuzz about monerov  is it good coin  


i thinking about buying alot of it if they provide good solution toward monero's shortfall... u know Monero Enterprise alliance and stuff...  it sound like a centralization.

They claim that their coins were stolen. The same way I could claim they are lying about this to FUD monero. They can't prove I am wrong and I can't prove they are wrong.

I haven't heard from any credible member who got his coins stolen from mymonero. Most often rather new accounts are claiming their monero got stolen.

I have been very lax on security measures with a few mymonero wallets just to see if someone is gonna steal them. Nothing got stolen in the past 2 years.

The main takeaway is, don't trust webwallets with any coin. It is not like people ever stated that webwallets are secure.  It is just reckless behaviour on the side of the user to use them anyway . There are more secure alternatives available.

I'm sure there are a few Fudders but due to the shear volume of accounts hacked I doubt it is all bullshit/phishing or poor SECOP. I believe I know what it is but I've warned of it for years and no-one has taken me serious so whatever I could care at this point. Using any Webwallet for any amount your not prepared to lose is dumb, there have been credible members that have lost coins years ago and warned the community so if people don't listen then thats their problem. Also I see a concerted effort to keep these reports shuffled away and ignored. I have never seen an official release of proof of any investigation and/or resolution to even one theft. I think Birr has been waiting for 2 years for an explanation other than we don't keep logs.

I can't remember what it was you warned about. Are you talking about the theory that cloudfare could be responsible for the thefts? Seems like there was a short discussion about this possibility at reddit a couple of weeks ago -
 https://www.reddit.com/r/Monero/comments/7tc3za/a_theory_regarding_the_randomly_reported_thefts/

I went through past posts about the theft and you are indeed right, there were some credible members who lost a lot of money due to usage of mymonero.

Maybe closing down mymonero wouldn't be a bad idea at this point in time? If I remember correctly, Fluffy already suggested to do this in the past, but some people were against it. But now we have more options for storage and with the impending release of the "official" android/iOs/hardware wallets, mymonero wont be needed anymore (IMO).

I think it's a good idea to have a web wallet, but a bad idea to use it for large sums.  Those days passed right around the time of the higher profile big losses with the Hydrogen Helix release.  There is less need for it now that we have a usable/improving GUI, and multiple mobile options fulfilling similar needs.  AFAIK mymonero is working on their own mobile app.  It cuts out some attack vectors, but still requires vigilance.  Complacency kills.

  I haven't seen anything on 'official mobile wallets'...

[noobtrader]

Yes, you should buy all 250 billion of them.  I know you have a fondness for premines and inferior tech.

awww.....  

so salty....    

Unless MoneroV implements this suggestion by one of our devs

Forkers, if you're forking Monero, DO NOT ask users to reuse their Monero keys, but have them create new keys for your fork.

Than they will have to be considered either attackers or grossly incompetent. Also their roadmap paper is riddled with inaccuracies and faulty logic. And considering that they are minting themselves 10% of the currency supply in this fork as some sort of purported "solution" to some sort of "problem" in monero, I think it's not very hard to guess at their true motivations. Whatever the case I wouldn't bother with them myself.

ok... thanks for the info, in that case you guys really should react as it was an attack, what if  black hat was paid to create this mess ? no amount of begging from your part will make them change it.

[Anon136]

ok... thanks for the info, in that case you guys really should react as it was an attack, what if  black hat was paid to create this mess ? no amount of begging from your part will make them change it.

No I don't think so personally. They are just highlighting a hairy problem that was always out there and needs to be addressed. It isn't reasonable to expect no one to ever fork our blockchain. Not if we hope to be one of the big players going forward.

[Millionero]

ok... thanks for the info, in that case you guys really should react as it was an attack, what if  black hat was paid to create this mess ? no amount of begging from your part will make them change it.

No I don't think so personally. They are just highlighting a hairy problem that was always out there and needs to be addressed. It isn't reasonable to expect no one to ever fork our blockchain. Not if we hope to be one of the big players going forward.

Woulda been nice if the fork had a feature to let you choose inputs to match the inputs in the corresponding transaction on the original chain.  Can't expect forkers to be forward-thinking and responsible, though.  Altruism?  In a fork of a major coin?  Before that happens, Roger Ver will ascend to heaven on a white horse.
Would it protect us to have that feature in Monero?  Seems like it would require replay protection on any new fork, because you would have to make the transaction on the fork first.

[Anon136]

Woulda been nice if the fork had a feature to let you choose inputs to match the inputs in the corresponding transaction on the original chain... Would it protect us to have that feature in Monero?

Well the fork almost certainly isnt going to do that. However it could be done on our end. Monero team could develop a feature to "safely claim XMV by using the same ring signature inputs on both chains when spending an XMR txo". Even that would only be partial solution though. If someone else failed to use this tool and exposed their ring signature input and it was an input in one of your transactions than that would erode your privacy even though you had used the tool yourself.

But your comment inspired me to think of another partial solution. Something I hadn't thought of before. If the feature that you wish the forkers would implement on their chain was instead implemented here on the main chain, any future forkers would be forking software that had the tool that you wish the fork chains had!

Seems like it would require replay protection on any new fork, because you would have to make the transaction on the fork first.

Yea I'm not sure about replay protection. I suppose you could make 2 new wallets one for the fork chain and one for the main chain and send your funds from the fork chain to your new fork wallet and the funds from the main chain to your new main chain wallet. It is possible that some joker could front run you and publish your transaction from one chain on the other chain but you wouldn't be losing your money it would just be an inconvenience that way.

[megadeth]

Getting tired of the XMR Coinbase add rumor circlejerk.
If its anything like BCH tho, holy shit.

[explorer]

Getting tired of the XMR Coinbase add rumor circlejerk.
If its anything like BCH tho, holy shit.

I thought that one had quieted down.  Has it popped up again somewhere?

[Millionero]

if... a feature to let you choose inputs to match the inputs in the corresponding transaction

was... implemented here on the main chain, any future forkers would be forking software that had the tool

I think this is the only solution.  I can't code it.  And if the devs don't have time, then I wish someone, a coder from the Monero community, would work on it.
Me, I would certainly donate to an FFS.  How does one initiate such a project?

[Febo]

https://www.reddit.com/r/Monero/comments/7xptw2/watch_out_for_mymonerocom_my_funds_got_stolen_on/

The dev team has hired security researchers to and are also themselves looking into the claims about mymonero.com. It could just be fud but they received enough complaints to look into it more deeply. For now though I would just avoid it to be safe. The hardware wallet will be here soon and it is supposed to only be $30 dollars. Using that and connecting to a remote node will be the way to go in the near future if you do not wish to run a full node.

I'm still waiting for the Ledger adding.

One of the only coins ledger has their own devs working on and its taking over 6 months.
Geezus...

Their best developer, what is sort of double-edged sword. Whenever developers that work on other Ledger projects hit on problems he get called to help them. And that had happened on at least 2 occasions  while he was working on Monero integration and postponed his project for not only weeks but more then a month.

[krm4700]

A questionnaire was prepared for an academic study conducted by Manisa Celal Bayar University School of Business, aimed at understanding consumers' perception of risk, sense of trust and investment behavior

[pattyking18]

Monero is dead as we know it. Game theory suggests that when free money is available to users as a result of airdrops, it would be illogical for them not to claim it. Due to the losses in ring signature privacy as a result of this, who in their right might would be willing to conduct sensitive transactions with such an inherently flawed cryptocurrency?

[Anon136]

if... a feature to let you choose inputs to match the inputs in the corresponding transaction

was... implemented here on the main chain, any future forkers would be forking software that had the tool

I think this is the only solution.  I can't code it.  And if the devs don't have time, then I wish someone, a coder from the Monero community, would work on it.
Me, I would certainly donate to an FFS.  How does one initiate such a project?

Ditto

Monero is dead as we know it. Game theory suggests that when free money is available to users as a result of airdrops, it would be illogical for them not to claim it. Due to the losses in ring signature privacy as a result of this, who in their right might would be willing to conduct sensitive transactions with such an inherently flawed cryptocurrency?

Dont be so dramatic. I have suggested 3 different approaches for dealing with this problem and i'm just one bloke. Not even the smartest one around here either.

[rinus]

if... a feature to let you choose inputs to match the inputs in the corresponding transaction

was... implemented here on the main chain, any future forkers would be forking software that had the tool

I think this is the only solution.  I can't code it.  And if the devs don't have time, then I wish someone, a coder from the Monero community, would work on it.
Me, I would certainly donate to an FFS.  How does one initiate such a project?

Ditto

Monero is dead as we know it. Game theory suggests that when free money is available to users as a result of airdrops, it would be illogical for them not to claim it. Due to the losses in ring signature privacy as a result of this, who in their right might would be willing to conduct sensitive transactions with such an inherently flawed cryptocurrency?

Dont be so dramatic. I have suggested 3 different approaches for dealing with this problem and i'm just one bloke. Not even the smartest one around here either.

This freaks me out as well. And also no reaction from the devs... hope they come with a real solution. In the mean time Hodl!

[bfriedman228]

Monero has many competitors. Anonymous coins are becoming more popular day by day. But I'm sure that Monero will remain the leader among such coins.

[faaty]

I think we are just before the days where Monero price is below 0.03 btc. Monero will go over that price range and make it support instead of a resistance area. If you look at previous charts of monero you can see that 0.007 btc area was the resistance, once Monero increased over that area it did not return back. I hope the similar thing happening soon, upcoming MoneroV fork may help happening this.

[explorer]

I think we are just before the days where Monero price is below 0.03 btc. Monero will go over that price range and make it support instead of a resistance area. If you look at previous charts of monero you can see that 0.007 btc area was the resistance, once Monero increased over that area it did not return back. I hope the similar thing happening soon, upcoming MoneroV fork may help happening this.

Maybe you mean 0.004?  0.007 was a flash in the night...

[leea-1334]

Monero is dead as we know it. Game theory suggests that when free money is available to users as a result of airdrops, it would be illogical for them not to claim it. Due to the losses in ring signature privacy as a result of this, who in their right might would be willing to conduct sensitive transactions with such an inherently flawed cryptocurrency?

Yeah, and there must a lot of people not in their right mind right now conducting all these sensitive transactions right now. Just going through this thread alone provides a lot of help, and at least you have helpful Monero people suggesting things for you. Try see if you get the same support with any of the fork coins of any coins. Game theory? You are not the first, and not the last. I do not claim all my fork coins, and maybe I am illogical, but hey. Surely more like me around.

[explorer]

Monero is dead as we know it. Game theory suggests that when free money is available to users as a result of airdrops, it would be illogical for them not to claim it. Due to the losses in ring signature privacy as a result of this, who in their right might would be willing to conduct sensitive transactions with such an inherently flawed cryptocurrency?

Yeah, and there must a lot of people not in their right mind right now conducting all these sensitive transactions right now. Just going through this thread alone provides a lot of help, and at least you have helpful Monero people suggesting things for you. Try see if you get the same support with any of the fork coins of any coins. Game theory? You are not the first, and not the last. I do not claim all my fork coins, and maybe I am illogical, but hey. Surely more like me around.

Yep.  I'm not eroding my privacy.  If a reasonable solution is found, forks will make for good XMR dev donation money.