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

[garytheasshole]

not sure this is the best place to ask, but... how long does monero full node currently take to sync? (given a SSD)

About a day, maybe less if you have a beefy CPU and decent bandwidth

[ignitiondefect]

I'm interested in Monero and love the concept but someone I respect objects to it for the following reasons:

- it uses eliptic curve cryptography, which is known to be a method of choice when the NSA wants you to use something they can break and others can't

- ECC can trivially be broken by a quantum computer

- It uses many constants in the crypto that aren't "nothing up my sleeve numbers”. This is one of the main ways to make crypto breakable by only the organization who chose the constants.

- the constants were created by an author that only goes by a pseudonym

- NSA has recently started trying to move federal systems away from ECC, ie they are likely aware of a weakness in it that may soon be exploitable by others

Can anyone please address these concerns? Thanks in advance.

[garytheasshole]

I'm interested in Monero and love the concept but someone I respect objects to it for the following reasons:

- it uses eliptic curve cryptography, which is known to be a method of choice when the NSA wants you to use something they can break and others can't

- ECC can trivially be broken by a quantum computer

- It uses many constants in the crypto that aren't "nothing up my sleeve numbers”. This is one of the main ways to make crypto breakable by only the organization who chose the constants.

- the constants were created by an author that only goes by a pseudonym

- NSA has recently started trying to move federal systems away from ECC, ie they are likely aware of a weakness in it that may soon be exploitable by others

Can anyone please address these concerns? Thanks in advance.

I'm no expert but as far as I know elliptic curve cryptography is used in pretty much most pub/priv key implementations for far more important stuff than Monero. If it's broken we'd be in a whole lot of trouble and Monero would be least of our concern.
If you can figure out an attack vector you're free to collect a hefty bounty. To my knowledge quantum computers do not exist and the fundamentals of quantum computing are still unknown.

[ignitiondefect]

Why does Dash have a higher market cap than Monero? It seems like an inferior solution that's much less elegant. Masternodes seem vulnerable and you have to take action to send Dash anonymously. Also, isn't Monero more widely used in commerce?

[garytheasshole]

Why does Dash have a higher market cap than Monero? It seems like an inferior solution that's much less elegant. Masternodes seem vulnerable and you have to take action to send Dash anonymously. Also, isn't Monero more widely used in commerce?

You pretty much answered your own question, masternodes freeze large portion of the coins which increases scarcity.

[Tropwal]

Just bought some monero,i hope im not too late to make some money.

[Millionero]

Just bought some monero,i hope im not too late to make some money.

What's your horizon?

[explorer]

I found this very helpful, and well presented.

https://getmonero.org/2017/12/11/A-note-on-fees.html

Thanks

You sir are a dedicated individual.  Yes, one of many, I know, but visible everywhere.  Your tireless efforts on many fronts over the years are greatly appreciated.  Cheers!

[BreadandButter]

I just started mining monero few days back...lets see how much profit I will be in 

[vertigo]

I just started mining monero few days back...lets see how much profit I will be in 

Hi BreadandButter, which hardware are you using?

[AdamT]

I'd like to dip/anonymize my BTC holdings into Monero and then right back again to fresh BTC addresses into long-term cold storage no one can track from previous BTC addresses on the blockchain. I don't have a lot of experience with Monero and am wondering the best practices in doing this.

[explorer]

I'd like to dip/anonymize my BTC holdings into Monero and then right back again to fresh BTC addresses into long-term cold storage no one can track from previous BTC addresses on the blockchain. I don't have a lot of experience with Monero and am wondering the best practices in doing this.

Seems like washing your car in a dust storm, but you could do something like this:
  Deposit BTC to a high enough volume exchange that supports Monero.  Transfer Monero to alternate exchange (or just trade back on first exchange, if you are not sufficiently paranoid), withdraw BTC to chosen wallets.  Repeat each time you do a BTC transaction.  Or just use Monero.  You will eventually, so just get ahead of the curve. 

[lowtempo]

Does anyone else here use the mymonero.com web wallet?  I have been trying to access the site today but the site seems to be timing out, when trying to access.   

Thanks in advance.

[explorer]

Does anyone else here use the mymonero.com web wallet?  I have been trying to access the site today but the site seems to be timing out, when trying to access.   

Thanks in advance.

Same result.

[lowtempo]

Thanks for the confirmation.  I hope mymonero.com site being down is just temporary.   If the site comes up, I might try to get my XMR out of that site and into another wallet.  These web wallets make me nervous. 

[jwinterm]

Thanks for the confirmation.  I hope mymonero.com site being down is just temporary.   If the site comes up, I might try to get my XMR out of that site and into another wallet.  These web wallets make me nervous. 

You can always use your seed from mymonero in the regular wallet. I'm not sure exactly how to do that, but I know it's possible.

[explorer]

Thanks for the confirmation.  I hope mymonero.com site being down is just temporary.   If the site comes up, I might try to get my XMR out of that site and into another wallet.  These web wallets make me nervous.  

You can always use your seed from mymonero in the regular wallet. I'm not sure exactly how to do that, but I know it's possible.

Here is how it's done in CLI wallet.  

It would probably take me as long as waiting for the site to be fixed  

edit:
this one is for mymonero keys, not seed

[garytheasshole]

Thanks for the confirmation.  I hope mymonero.com site being down is just temporary.   If the site comes up, I might try to get my XMR out of that site and into another wallet.  These web wallets make me nervous.  

You can always use your seed from mymonero in the regular wallet. I'm not sure exactly how to do that, but I know it's possible.

Here is how it's done in CLI wallet.  

It would probably take me as long as waiting for the site to be fixed  

edit:
this one is for mymonero keys, not seed

Mymonero uses 12 word seed rather than 25 so that's probably the only option.

[dEBRUYNE]

For MyMonero users, you can use this guide to import your wallet into the GUI:

https://monero.stackexchange.com/questions/3775/how-to-restore-a-monero-wallet-from-private-keys

[revelacaogr]

Monero and Privacy with Riccardo Spagni (aka @fluffypony) - Off Chain Special

https://www.youtube.com/watch?v=FRdGe9kNBRI&t=0s

We discuss all the latest privacy technologies and how Monero will be incorporating Bulletproofs, MimbleWimble and how this affects Bitcoin.