[XMR] Monero - A secure, private, untraceable cryptocurrency

[rattle99]

Any news regarding monero?

[garytheasshole]

The main advantage of Fonero is the use of Ring Confidential Transactions (RingCT) for all transactions. Also, all the problems and mistakes of Monero developers were taken into account and there are no problems inside the blockchain

https://asktom.cf/index.php?topic=2413943.0;topicseen

They get less and less creative with naming these charades.

[Millionero]

fonero.org
Phonero = Phony Monero
We have it all!  Premine, masternodes, the works!

[Aby Normal]

Bitcoin runs on drama, Monero runs on comedy 

[Globb0]

fonero.org
Phonero = Phony Monero
We have it all!  Premine, masternodes, the works!

[Hueristic]

fonero.org
Phonero = Phony Monero
We have it all!  Premine, masternodes, the works!

Dammit, now I'm hungry.

[bitebits]

Should Have Used Margin, especially when bubbles melt.

[notbatman]

fonero.org
Phonero = Phony Monero
We have it all!  Premine, masternodes, the works!

ETN doesn't have MNs.  

[garytheasshole]

fonero.org
Phonero = Phony Monero
We have it all!  Premine, masternodes, the works!

ETN doesn't have MNs.  

Instead they have a single masternode that can revert transactions every time someone steals some ETH or they fuck up beyond repair.

[notbatman]

^^^ Electroneum (ETN) the mobile crypto... it's an XMR clone.

[smooth]

@Smooth, can you explain how effective this would be on BTC?

1. The report itself is quite misleading. Confidential Transactions was initially invented by gmaxwell for Bitcoin, not by or for Monero. Its concepts were incorporated along with ring signatures by shen to create RingCT, which we then deployed (in January 2017). So it is quite inaccurate to say that those considering adopting CT in Bitcoin are going to be adopting something from Monero. It is accurate to say the Monero is the first coin to actually deploy a CT-based system on a significant scale.

2. Bitcoin (and Litecoin) are only proposing to use CT, not RingCT, which means it will only hide amounts. Go look at a Bitcoin chain explorer and cover up the amounts. Everything else about the transaction (sender, recipient) will still visible as-is. Obviously that is a lot less privacy than Monero, but still an improvement over what Bitcoin does now.

3. As far as tx size, that is a significant obstacle for BTC since even with this new, more-efficient CT it would still increase typical tx size (and all that comes with that such as fees) by a significant factor, maybe 2-3x. I suspect there will be significant difficulty gaining consensus to do this, or if it is done it won't be used much and will therefore suffer also from chain analysis and fungibility issues (as do all optional privacy systems). In the short term LTC has less of an issue there since it is much less used and has no shortage of chain space and much lower fees. But longer term LTC would run into the same problems.

[garytheasshole]

^^^ Electroneum (ETN) the mobile crypto... it's an XMR clone.

Sorry, my bad, I misread ETN for ETH, it's hard to keep track.

[bitebits]

@Smooth, can you explain how effective this [Confidential Transactions] would be on BTC?

1. The report itself is quite misleading. Confidential Transactions was initially invented by gmaxwell for Bitcoin, not by or for Monero. Its concepts were incorporated along with ring signatures by shen to create RingCT, which we then deployed (in January 2017). So it is quite inaccurate to say that those considering adopting CT in Bitcoin are going to be adopting something from Monero. It is accurate to say the Monero is the first coin to actually deploy a CT-based system on a significant scale.

2. Bitcoin (and Litecoin) are only proposing to use CT, not RingCT, which means it will only hide amounts. Go look at a Bitcoin chain explorer and cover up the amounts. Everything else about the transaction (sender, recipient) will still visible as-is. Obviously that is a lot less privacy than Monero, but still an improvement over what Bitcoin does now.

3. As far as tx size, that is a significant obstacle for BTC since even with this new, more-efficient CT it would still increase typical tx size (and all that comes with that such as fees) by a significant factor, maybe 2-3x. I suspect there will be significant difficulty gaining consensus to do this, or if it is done it won't be used much and will therefore suffer also from chain analysis and fungibility issues (as do all optional privacy systems). In the short term LTC has less of an issue there since it is much less used and has no shortage of chain space and much lower fees. But longer term LTC would run into the same problems.

Thanks for writing this down, in layman's terms. I understand the implications better now.

[Hueristic]

@Smooth, can you explain how effective this would be on BTC?

1. The report itself is quite misleading. Confidential Transactions was initially invented by gmaxwell for Bitcoin, not by or for Monero. Its concepts were incorporated along with ring signatures by shen to create RingCT, which we then deployed (in January 2017). So it is quite inaccurate to say that those considering adopting CT in Bitcoin are going to be adopting something from Monero. It is accurate to say the Monero is the first coin to actually deploy a CT-based system on a significant scale.

2. Bitcoin (and Litecoin) are only proposing to use CT, not RingCT, which means it will only hide amounts. Go look at a Bitcoin chain explorer and cover up the amounts. Everything else about the transaction (sender, recipient) will still visible as-is. Obviously that is a lot less privacy than Monero, but still an improvement over what Bitcoin does now.

3. As far as tx size, that is a significant obstacle for BTC since even with this new, more-efficient CT it would still increase typical tx size (and all that comes with that such as fees) by a significant factor, maybe 2-3x. I suspect there will be significant difficulty gaining consensus to do this, or if it is done it won't be used much and will therefore suffer also from chain analysis and fungibility issues (as do all optional privacy systems). In the short term LTC has less of an issue there since it is much less used and has no shortage of chain space and much lower fees. But longer term LTC would run into the same problems.

Thanks as usual for the clear and concise explanation.
I hate my memory these days, once you said it I remembered Gmaxwell had proposed it as that had been mentioned in this thread when it was first discussed.

[Coindgr]

I believe Monero is slowly growing in traction and getting ready for another big pump I hope very soon it will reach $200. Current price is still very low as compare with it's competitor market than it has more superior tech and potentially it has room of growth to get more better position in coming days.
Infact it is still the best privacy coin maybe the only real privacy coin 

I never really understood why other coins (competitor) got a higher price, I believe XMR failed in the marketing somewhere.

[Globb0]

Was willy bot a marketing tool ?

[Franticcrypto]

Interesting coin, been a hodler for a while, but I can agree with the above comments that as far as marketing is concerned that improvements can be made

[BldSwtTrs]

How can we check the balance of our cold storage?

I try with this http://xmr.llcoins.net/checktx.html but I get this message:

Failed to get transaction data! Perhaps MoneroBlocks is down?

[LoveKamil]

Hi! when Monero will be added multi-signature?

[garytheasshole]

Hi! when Monero will be added multi-signature?

Soon™