The Paperback Of Game Is Now Available! Several retailers have begun selling the physical copy of Game with free shipping. Click Here For Full Details.

Post Reply 
Monero (XMR) thread
Author Message
Samseau Offline
Innovative Casanova
*******
Gold Member

Posts: 14,226
Joined: Mar 2010
Reputation: 285
Post: #76
RE: Monero thread
Monero given front page treatment by Bloomberg:

https://www.bloomberg.com/news/articles/...r-currency

Quote:Bitcoin is losing its luster with some of its earliest and most avid fans -- criminals -- giving rise to a new breed of virtual currency.

Privacy coins such as monero, designed to avoid tracking, have climbed faster over the past two months as law enforcers adopt software tools to monitor people using bitcoin. A slew of analytic firms such as Chainalysis are getting better at flagging digital hoards linked to crime or money laundering, alerting exchanges and preventing conversion into traditional cash.

The European Union’s law-enforcement agency, Europol, raised alarms three months ago, writing in a report that “other cryptocurrencies such as monero, ethereum and Zcash are gaining popularity within the digital underground.” Online extortionists, who use ransomware to lock victims’ computers until they fork over a payment, have begun demanding those currencies instead. On Dec. 18 hackers attacked up to 190,000 WordPress sites per hour to get them to produce monero, according to security company Wordfence.

For ransomware attacks, monero is now “one of the favorites, if not the favorite,” Matt Suiche, founder of Dubai-based security firm Comae Technologies, said in a phone interview.

Monero quadrupled in value to $349 in the final two months of 2017, according to coinmarketcap.com, placing it among a number of upstart coins that that rose faster than bitcoin, the world’s most valuable digital currency. Bitcoin roughly doubled in the same period, data compiled by Bloomberg show.

In monero’s case, criminals are snapping it up because bitcoin’s underlying technology can work against them. Called blockchain, the digital ledger meticulously records which addresses send and receive transactions, including the exact time and amount -- great data to use as evidence. Match an address to a crime and then watch the bitcoin universe carefully, and you can see the funds disappear and reappear in other locations.

Sleuths have developed databases and techniques for digesting that information to eventually nab wrongdoers. Say, for example, a coffee shop in Berkeley is known to have a certain bitcoin address, and a wallet used by an extortionist transfers the same amount there every morning at 9 a.m. Police can stop by and make an arrest.

Started in 2014, monero is very different. It encrypts the recipient’s address on its blockchain and generates fake addresses to obscure the real sender. It also obscures the amount of the transaction.

The techniques are so potent that software that flags coins suspected of being obtained through crime now tags just about anything converted into or out of monero as high risk, according to Pawel Kuskowski, chief executive officer of Coinfirm, which helps exchanges and other companies avoid tainted money. That compares with only about 10 percent of bitcoin, he said.

“What we treat ‘high risk’ is something that’s anonymizing funds,” he said in a phone interview. “How are you going to prove that these funds are not coming from illegal sources?”

Monero is one of many privacy-focused coins, each offering different security features. Its main competitor, Zcash -- which isn’t known to have a significant criminal following -- can offer even better privacy protection. Instead of creating fake addresses to hide senders, it encrypts their true address. That makes it impossible to identify senders by looking for correlations in addresses used in multiple transactions to pinpoint the real one -- a vulnerability for monero.

Still, Princeton University researchers recently developed a tool that helps them analyze Zcash transactions at least to some extent -- but they haven’t been able to crack monero. And Zcash high-security features can’t be used on disposable burner phones, a favorite of criminals eager to stay anonymous.

Developers behind monero say they simply created a coin that protects privacy. Most people use it legitimately -- they just don’t want others to know whether they’re buying a coffee or a car, Riccardo Spagni, core developer at monero, said in a phone interview.

“As a community, we certainly don’t advocate for monero’s use by criminals,” Spagni said. “At the same time if you have a decentralized currency, it’s not like you can prevent someone from using it. I imagine that monero provides massive advantages for criminals over bitcoin, so they would use monero.”

‘Utility’ Too
Yet criminals are probably only a fraction of monero’s users, according to Lucas Nuzzi, a senior analyst at Digital Asset Research, which provides research to institutional investors.

“As with any disruptive technology, many of the initial use cases revolve around illicit activities,” he wrote in an email. But as everyday people grow concerned about privacy and surveillance, “there is utility in these currencies that go beyond just a means of exchange for illicit goods."

Namely, owners of Monero will never be the victims of identity theft.

Contributor at Return of Kings. You can follow me on Twitter.

Be sure to check out the easiest mining program around, FreedomXMR.
01-05-2018 11:15 AM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 2 users Like Samseau's post:
DamienCasanova, rottenapple
Samseau Offline
Innovative Casanova
*******
Gold Member

Posts: 14,226
Joined: Mar 2010
Reputation: 285
Post: #77
RE: Monero thread
Interesting paper shitting on coins that use Tor (like Verge and ZCash) from 2014:

https://arxiv.org/abs/1410.6079

Bitcoin over Tor isn't a good idea


Quote:Bitcoin is a decentralized P2P digital currency in which coins are generated by a distributed set of miners and transaction are broadcasted via a peer-to-peer network. While Bitcoin provides some level of anonymity (or rather pseudonymity) by encouraging the users to have any number of random-looking Bitcoin addresses, recent research shows that this level of anonymity is rather low. This encourages users to connect to the Bitcoin network through anonymizers like Tor and motivates development of default Tor functionality for popular mobile SPV clients. In this paper we show that combining Tor and Bitcoin creates an attack vector for the deterministic and stealthy man-in-the-middle attacks. A low-resource attacker can gain full control of information flows between all users who chose to use Bitcoin over Tor. In particular the attacker can link together user's transactions regardless of pseudonyms used, control which Bitcoin blocks and transactions are relayed to the user and can \ delay or discard user's transactions and blocks. In collusion with a powerful miner double-spending attacks become possible and a totally virtual Bitcoin reality can be created for such set of users. Moreover, we show how an attacker can fingerprint users and then recognize them and learn their IP address when they decide to connect to the Bitcoin network directly.

Contributor at Return of Kings. You can follow me on Twitter.

Be sure to check out the easiest mining program around, FreedomXMR.
(This post was last modified: 01-05-2018 11:17 AM by Samseau.)
01-05-2018 11:17 AM
Find all posts by this user Like Post Quote this message in a reply
SamuelBRoberts Offline
International Playboy
******
Gold Member

Posts: 3,888
Joined: Oct 2014
Reputation: 85
Post: #78
RE: Monero thread
It's so weird that Dash is worth more than Monero is.
I hear about Monero everywhere but nobody talks about Dash.

Datasheets: Stretches for Better Posture, Sous-Vide Cooking
01-05-2018 05:07 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes SamuelBRoberts's post:
bucky
Kona Offline
International Playboy
******
Gold Member

Posts: 5,101
Joined: Aug 2009
Reputation: 137
Post: #79
RE: Monero thread
I'm getting more monero today. Looks like we got a little dip.

If any of you are kidnapped, pm me and maybe I'll help with the ransom.

Aloha!
01-05-2018 05:14 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 6 users Like Kona's post:
arafat scarf, whiteknightrises, bucky, Samseau, Blancpain, CaptainChardonnay
pfeffer Offline
Game Denialist

Posts: 46
Joined: Sep 2011
Reputation: 1
Post: #80
RE: Monero thread
I've been using coinbase for a few years, and looking to expand my portfolio to other coins. Darknet trusting monero is a good enough endorsement for me. Where can I buy or exchange BTC? Binance and just about every other exchange is closed off to new members.
01-05-2018 05:32 PM
Find all posts by this user Like Post Quote this message in a reply
oilbreh Offline
Chubby Chaser
**

Posts: 263
Joined: Jan 2014
Reputation: 8
Post: #81
RE: Monero thread
(01-05-2018 05:32 PM)pfeffer Wrote:  I've been using coinbase for a few years, and looking to expand my portfolio to other coins. Darknet trusting monero is a good enough endorsement for me. Where can I buy or exchange BTC? Binance and just about every other exchange is closed off to new members.

You can buy them on some local monero sites with cash on the street. Research the legitimate ones and legitimate vendors. Maybe try a smaller exchange like hitbtc or something otherwise. Third of option would be use some guys here.

*Cold Shower Crew*
*No Fap Crew*
*150+ IQ Crew*
(This post was last modified: 01-05-2018 05:44 PM by oilbreh.)
01-05-2018 05:43 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 2 users Like oilbreh's post:
bucky, pfeffer
Kona Offline
International Playboy
******
Gold Member

Posts: 5,101
Joined: Aug 2009
Reputation: 137
Post: #82
RE: Monero thread
Fueled by positive writeups from Samseau, we see a nice gain today. Glad I bought yesterday.

Aloha!
01-06-2018 06:31 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Kona's post:
Samseau
Chetthebaker Offline
Chubby Chaser
**

Posts: 316
Joined: Feb 2015
Reputation: 11
Post: #83
RE: Monero thread
Changelly seems like a decent option for converting from BTC or ETH to XMR, but I'm still new to all this. I'm not sure where I'd store XMR. Looks like the most reputable hardware wallets are on backorder til March.
01-06-2018 10:01 PM
Find all posts by this user Like Post Quote this message in a reply
Lampwick Offline
Beta Orbiter
*
Gold Member

Posts: 122
Joined: Aug 2017
Reputation: 12
Post: #84
RE: Monero thread
(01-06-2018 10:01 PM)Chetthebaker Wrote:  Changelly seems like a decent option for converting from BTC or ETH to XMR, but I'm still new to all this. I'm not sure where I'd store XMR. Looks like the most reputable hardware wallets are on backorder til March.

Changelly is listed as a scam on the Monero subreddit:

https://www.reddit.com/r/Monero/wiki/avoid

If you have a Binance account, you can buy XMR there. To store it, you can download the desktop client:

https://getmonero.org/downloads/

This takes forever since it downloads the entire blockchain (~30 GB). I recommend creating the wallet and key files on a USB drive that you leave unplugged from your computer at all times, unless you are doing a transaction. Print out the seed words on a piece of paper and put it some place secure. Do not store the seed words on your computer/cloud storage, because anyone can recreate the wallet with them.

There are no hardware wallets yet. Ledger Nano S is supposed to add support in Q1. Also, there is a $20 Monero hardware wallet in development as well.
01-06-2018 10:42 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Lampwick's post:
zanetti
zanetti Offline
Wingman
***
Gold Member

Posts: 640
Joined: Feb 2010
Reputation: 27
Post: #85
RE: Monero thread
(01-06-2018 10:42 PM)Lampwick Wrote:  
(01-06-2018 10:01 PM)Chetthebaker Wrote:  Changelly seems like a decent option for converting from BTC or ETH to XMR, but I'm still new to all this. I'm not sure where I'd store XMR. Looks like the most reputable hardware wallets are on backorder til March.

Changelly is listed as a scam on the Monero subreddit:

https://www.reddit.com/r/Monero/wiki/avoid

If you have a Binance account, you can buy XMR there. To store it, you can download the desktop client:

https://getmonero.org/downloads/

This takes forever since it downloads the entire blockchain (~30 GB). I recommend creating the wallet and key files on a USB drive that you leave unplugged from your computer at all times, unless you are doing a transaction. Print out the seed words on a piece of paper and put it some place secure. Do not store the seed words on your computer/cloud storage, because anyone can recreate the wallet with them.

There are no hardware wallets yet. Ledger Nano S is supposed to add support in Q1. Also, there is a $20 Monero hardware wallet in development as well.

Yesterday I decided to download the Monero GUI Wallet from getmonero.org but it looks like it's stuck or something?! In the beginning it was downloading("syncing") just fine but after about 8% nothing seems to be happening anymore and the number of blocks remaining is actually slowly increasing?!

Anyone have any experience with this and know what to do?

Thanks!

Detective Rust Cohle: "All the dick swagger you roll, you can't spot crazy pussy?"
01-07-2018 01:51 AM
Find all posts by this user Like Post Quote this message in a reply
Lampwick Offline
Beta Orbiter
*
Gold Member

Posts: 122
Joined: Aug 2017
Reputation: 12
Post: #86
RE: Monero thread
(01-07-2018 01:51 AM)zanetti Wrote:  
(01-06-2018 10:42 PM)Lampwick Wrote:  
(01-06-2018 10:01 PM)Chetthebaker Wrote:  Changelly seems like a decent option for converting from BTC or ETH to XMR, but I'm still new to all this. I'm not sure where I'd store XMR. Looks like the most reputable hardware wallets are on backorder til March.

Changelly is listed as a scam on the Monero subreddit:

https://www.reddit.com/r/Monero/wiki/avoid

If you have a Binance account, you can buy XMR there. To store it, you can download the desktop client:

https://getmonero.org/downloads/

This takes forever since it downloads the entire blockchain (~30 GB). I recommend creating the wallet and key files on a USB drive that you leave unplugged from your computer at all times, unless you are doing a transaction. Print out the seed words on a piece of paper and put it some place secure. Do not store the seed words on your computer/cloud storage, because anyone can recreate the wallet with them.

There are no hardware wallets yet. Ledger Nano S is supposed to add support in Q1. Also, there is a $20 Monero hardware wallet in development as well.

Yesterday I decided to download the Monero GUI Wallet from getmonero.org but it looks like it's stuck or something?! In the beginning it was downloading("syncing") just fine but after about 8% nothing seems to be happening anymore and the number of blocks remaining is actually slowly increasing?!

Anyone have any experience with this and know what to do?

Thanks!

There are a number of things that could be going on. See this thread for solutions to common issues:

https://www.reddit.com/r/Monero/comments..._download/

You may also want to try searching directly on Stack Exchange for the issue you're experiencing. Also, try leaving it running overnight. It is a lot of data, so it will take a long time.
01-07-2018 02:49 AM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Lampwick's post:
zanetti
bucky Offline
Recovering Beta
*

Posts: 236
Joined: Nov 2015
Reputation: 3
Post: #87
RE: Monero thread
About two weeks ago I intended to invest $500 in Ripple and another $500 in Monero. Couldn't figure it out. Looks like that 1k would be close to 10k now. Oh well. Happy the man that bought in successfully. I've never had this much trouble giving someone my money.

Feminism in ten words: "Stop objectifying women! Can't you see I've hit the wall?" -Leonard D Neubache
01-07-2018 08:09 AM
Find all posts by this user Like Post Quote this message in a reply
Jaydublin Offline
True Player
*****

Posts: 1,578
Joined: Jun 2012
Reputation: 4
Post: #88
RE: Monero thread
(01-07-2018 08:09 AM)bucky Wrote:  About two weeks ago I intended to invest $500 in Ripple and another $500 in Monero. Couldn't figure it out. Looks like that 1k would be close to 10k now. Oh well. Happy the man that bought in successfully. I've never had this much trouble giving someone my money.

This is the sole reason I am not a bitcoin millionaire.. I got frustrated with it years ago and decided "its probably a scam anyway" then walked off. Last spring I decided to educate myself a little on all of this, not so I could put my life saving in now(or then) but so I can slowly buy in and learn the system and when a crash does happen, and it will, I will know exactly how to scoop up.

Though I will say this thing has gotten so big that if they integrate it into the stock market much more crypto could crash the whole god damn thing.

Take the time to figure it out. It will be worth it in the long term as long as you don't go all in at the top.
01-07-2018 08:26 AM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Jaydublin's post:
bucky
Enhanced Eddie Offline
Recovering Beta
*
Gold Member

Posts: 180
Joined: Jan 2017
Reputation: 14
Post: #89
RE: Monero thread
Quote:Though I will say this thing has gotten so big that if they integrate it into the stock market much more crypto could crash the whole god damn thing.
I assume this is based on some article you could link?
01-07-2018 08:52 AM
Find all posts by this user Like Post Quote this message in a reply
Samseau Offline
Innovative Casanova
*******
Gold Member

Posts: 14,226
Joined: Mar 2010
Reputation: 285
Post: #90
RE: Monero thread
(01-05-2018 05:07 PM)SamuelBRoberts Wrote:  It's so weird that Dash is worth more than Monero is.
I hear about Monero everywhere but nobody talks about Dash.

Dash has gotten mad coverage via it's flashy speed. Dash is actually kinda cool, but suffers a bit from centralization. But as the fastest coin, it definitely gets a lot of hype.

I actually see a future for Dash as a processor for small payments at stores, as a competitor to Lytecoin.

That said, Dash won't last against Monero. Monero is much more secure. Monero will be used for the big purchases while Dash and Lytecoin will be for the smaller ones.

Contributor at Return of Kings. You can follow me on Twitter.

Be sure to check out the easiest mining program around, FreedomXMR.
01-07-2018 09:50 AM
Find all posts by this user Like Post Quote this message in a reply
Kona Offline
International Playboy
******
Gold Member

Posts: 5,101
Joined: Aug 2009
Reputation: 137
Post: #91
RE: Monero (XMR) thread
Lotsa volatility in the monero biz today. There's no CRYing in CRYpto, however.

Samseau, what's the deal?

Aloha!
01-10-2018 03:27 AM
Find all posts by this user Like Post Quote this message in a reply
SamuelBRoberts Offline
International Playboy
******
Gold Member

Posts: 3,888
Joined: Oct 2014
Reputation: 85
Post: #92
RE: Monero (XMR) thread
Bitthumb, Korea's largest exchange, was just raided by Korean authorities over tax stuff.

Bought a bunch of XMR. SHould be a good catalyst.

Datasheets: Stretches for Better Posture, Sous-Vide Cooking
01-10-2018 05:38 AM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes SamuelBRoberts's post:
stefpdt
stefpdt Offline
Chubby Chaser
**

Posts: 372
Joined: Jun 2014
Reputation: 11
Post: #93
RE: Monero (XMR) thread
Entire market is going bear for a little bit because of Bitcoin. Could be a decent time to buy on the dip.
01-10-2018 05:52 AM
Find all posts by this user Like Post Quote this message in a reply
RichieP Offline
Alpha Male
****

Posts: 1,447
Joined: Nov 2011
Reputation: 23
Post: #94
RE: Monero (XMR) thread
(01-10-2018 05:38 AM)SamuelBRoberts Wrote:  Bitthumb, Korea's largest exchange, was just raided by Korean authorities over tax stuff.

Bought a bunch of XMR. SHould be a good catalyst.

What is the thinking behind buying XMR here?
01-10-2018 06:35 AM
Find all posts by this user Like Post Quote this message in a reply
stefpdt Offline
Chubby Chaser
**

Posts: 372
Joined: Jun 2014
Reputation: 11
Post: #95
RE: Monero (XMR) thread
Barring government intervention, Monero will likely be one of the most actively-used cryptocurrencies of the future. It obviously isn't clear what the price of Monero will be in the future, but it may be worth investing in sooner rather than later.
01-10-2018 07:17 AM
Find all posts by this user Like Post Quote this message in a reply
stefpdt Offline
Chubby Chaser
**

Posts: 372
Joined: Jun 2014
Reputation: 11
Post: #96
RE: Monero (XMR) thread
Article on CNBC dubs Monero as "North Korea's favorite cryptocurrency":

https://www.cnbc.com/2018/01/10/what-is-...rency.html

It's hilarious because the mainstream media will always paint Monero in a negative light (associating it with North Korea, and a picture of Kim Jong-un, lol).

But the meat of the article is actually positive, because it shows how an enslaved population can use Monero to escape capital controls and store value.

If there truly are North Koreans mining Monero (it's possible I suppose) - they can create wealth AND have plausible deniability in case they're ever caught by local officials (because of Monero's untraceability).

Point being, Monero's potential for GOOD far outweighs its potential for bad IMO. Monero can give populations a chance at true freedom.

This is my favorite crypto by far. And, it's actually a good thing that Monero gets so much negative attention in the mainstream. Monero will likely be undervalued for quite some time, which is better for everyone here who believes in Monero's future.
01-10-2018 08:00 AM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes stefpdt's post:
Samseau
megadeth Offline
Male Feminist

Posts: 7
Joined: Jan 2013
Reputation: 0
Post: #97
RE: Monero (XMR) thread
2018 is going to be the year of anon coins.
I'm expecting XMR, ZEC and the tier 2 anon coins to rally hard.
Reclaim their ATH against BTC.
(This post was last modified: 01-10-2018 09:28 AM by megadeth.)
01-10-2018 09:27 AM
Find all posts by this user Like Post Quote this message in a reply
Roosh Offline
Innovative Casanova
*******

Posts: 18,986
Joined: Aug 2008
Reputation: 402
Post: #98
RE: Monero (XMR) thread
Is this the most stable crypto out there or what? We're moving sideways for over a month now.

Roosh
http://www.rooshv.com
01-12-2018 01:12 PM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
gringoed Online
Wingman
***

Posts: 915
Joined: Jul 2009
Reputation: 11
Post: #99
RE: Monero (XMR) thread
I think XMR is the turtle in the race. It's not going to replace BTC but it won't die either. I think it deserves to be #4 coin in the end.
01-12-2018 01:36 PM
Find all posts by this user Like Post Quote this message in a reply
Kona Offline
International Playboy
******
Gold Member

Posts: 5,101
Joined: Aug 2009
Reputation: 137
Post: #100
RE: Monero (XMR) thread
Looks like we had some positive returns today. Hope it keeps going.

Aloha!
01-13-2018 11:04 PM
Find all posts by this user Like Post Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Come Mine Monero The Easy Way: Freedom XMR ! Samseau 10 2,424 08-14-2018 09:04 AM
Last Post: redbeard

Forum Jump:


User(s) browsing this thread: 1 Guest(s)

Contact Us | RooshV.com | Return to Top | Return to Content | Mobile Version | RSS Syndication