Cryptos have no application for everyday monetary transactions...

cryptos have no application for everyday monetary transactions. they are literally only useful for one thing: blackmarkets. cash is hard and expensive to launder but monero is free to launder. why haven't you bought into the only coin with a long term future?

Other urls found in this thread:

arxiv.org/pdf/1712.01210.pdf
eprint.iacr.org/2017/1132.pdf

monero doesnt need shilling
whoever knows it's usefulness already own it
this posts only attract pajeet shills of usless monero wannabe shitcoins (we all know their names)

who else /chillinginxmrdoingnothingwhileeverythingmoons/

im waiting for the dip to go all in

This. Stop shilling. What's the point? User base increases, value goes up. Just like btc back in the day.

Honestly sweating a little due to the current bearishness but I remember I'm just mining it so we're good.

big news coming

My question is, mining XMR isn't as lucrative as some other coins so it makes more sense for me to mine something else and then trade it for XMR. But if I'm getting my XMR from an exchange, doesn't that defeat the anonymous purpose of the coin since I can be identified on the exchange I'm buying it on. So, is the only way to be truly user with XMR to mine it yourself on an anonymous pool? How do I buy it and stay user.

localmonero.co

>doesn't that defeat the anonymous purpose of the coin since I can be identified on the exchange I'm buying it on
but does it matter, since it can't be traced after it leaves exchange's wallet?

shapeshift

Thanks user

its ok because only elitist pukes use monero when verge and the normies rise so will the stacks and ease of use out plays. in a few months we will call it gonero

Yes and we can restrict the blocksize just like bitcoin too. On our way to 50 dollar fees bois

Wow I am fucking furious. I had my sell order at .024799 on Binance, some guy puts an 8.5 order directly below me at .024798, his entire order suddenly gets filled and then it drops down to .0243 without touching a hair on mine.

What the FUCK.

>can't form a coherent sentence
>likes verge
sounds about right

no. monero makes it impossible to prove who you sent money to and how much you sent. it is visible that you were involved in a transaction but that is all.

Bullet proofs are on testnet. They went live this week. New cost is a few cents per transaction. Also blockchain bloat will go down around 80% based on current testnet experiments.

Stay salty.

Multisig - finished
Bullet proofs - finished and on testnet
Kovri - underway

>y sell order at .024799 on Binance, some guy puts an 8.5 order directly below me at .024798, his entire order suddenly gets filled and then it drops down to .0243 without touching a hair on mine.
>What the FUCK.

Its bot trading.

Why would a bot grab that guy's order and ignore mine though?

When does testnet become realnet.

next scheduled fork assuming no major issues are being found.

So.. Binance and Bittrex are gonna drop their 0.04 withdrawal fee now right?

man I love this coin but why the fuck are the transaction fees so high? last time I withdrew it it was like 16$, sure the exchanges are thieves but looks like the network must be conjested already

i like monero but i'm a little concerned about xspec impacting it - am i being paranoid?

From exchange to wallet the fee is set by the exchange.

The network is not congested.

I just moved from wallet to wallet and payed less than a buck.

XSPEC is a heavily shilled abandonware.

Exchanges are over charging you. They hit you with 0.04 when the fee is actually 0.003, 0.012, 0.06 or something like 0.45. None of these fee steps explain the 0.04 number.

This fee is set by the EXCHANGES. It's how they make a profit and force you to keep your money on the exchanges. XMR has nothing to do with this fee.

..I know. But now that it's being dropped significantly they should drop it on their end too to compensate. I don't expect it to match the actual Tx fee but even 0.01 would be far higher than necessary with bulletproofs.

xspec is vaporware with no optional privacy etc. As of right now there isnt a single legit competitor to xmr.

ok thanks, so looks like fucking exchanges just refuse to adjust the wihdrawal fees even though prices go up. The fuckers should have a set amount for fees, not a percentage

They are too dumb to implement dynamic fee pricing for withdraws. They don't know the actual cost of a withdraw so they just set it very high so they cant lose any money. Go to a different exchange.

It is disgusting. That is why i withdrew all my xmr and i know keep then in an offline wallet.

BTW ledger support is coming soon. There is a final version on github for reviewing.

thanks lads, the constant fucking shilling on this board was dissuading me from dropping some of my eth into xmr, gonna go ahead with it now

Be honest senpai, besides IP not being hidden (and I get why that's not a big deal), is there anything else that could be considered a weakness or potential weakness? You don't need to overshill, I'm very probably going to buy some, I just want to know to see how deep I go.

Every exchange I know does the 0.04 number.

yea I heard that, once it comes out Im buying more for 2018 hodl and put everything on my ledger.
this might be one of the biggest gainers in 2018. At least amongst the already established coins, whne people wake up and realize that this is the only way to store/hide their wealth from (((them)))

thanks user, this platform can go huge

Go on darknetmarkets, they fucking hate buttcoin. What will they replace it with in 2018? XMR literally removes the need to tumble, game-changing.

Yes there are tonnes of edge cases for monero attacks. to be specific the way Monero currently chooses its inputs for ring signatures is kinda shit which makes it much more likley that the true signer of a ring signature tends to be the input that is from the newest block. meaning you can defeat ring sigs to a certain extent just by guessing that the real spender is the earliest block. something like this guessing would never hold up in court tho.

The great thing about Monero is the Monero Research lab is constantly working on fixes for flaws it finds.

Next hard fork is in march, dev team have said they will either implement bulletproofs at this time or change the fee structures to deal with the recent price increase

>Next hard fork is in march, dev team have said they will either implement bulletproofs at this time or change the fee structures to deal with the recent price increase
I can't imagine they wouldn't implement bulletproofs three months from now if it's already on testnet. That seems like such a long way away.

>long term
actually one of the only coins with a guaranteed EOL

privacy is it's only feature, and cryptographic privacy is a very fast moving world, technically monero is already outdated, but zcash broke their implementation of zk-snarks rendering it useless for privacy.

eventually a new coin will come out, or more likely a layer on top of bitcoin or ethereum, that provides a provable zero knowledge token. monero can't "upgrade" itself in this way, and so it effectively has a guaranteed point where it will be rendered obsolete for it's single purpose.

(thats not to say it's not the best privacy coin as of today, nothing even comes close, especially not zcash or any of it's shitty clones.)

false. optional privacy is not privacy at all

Maybe, it's impossible to say what the future will bring in this case. Monero may be able to upgrade with a hard fork as well.

Darknets will be extinct by 2019

Why do you say that zcash has the best privacy with zk-snarks and then you tell us that nothing comes close to monero not even zcash?
I'm asking not ironically because I don't understand

namaste

i don't know much about monero..
but i heard mcaffee shill it a while ago.
figured out how to set up a miner for it.
watched it go from 80-300...
fuck it.. let's see what happens.

monero does a hard fork every 6 months or so, the testnet is now in v7 (multisig) while the main-net is still v6

>
>Why do you say that zcash has the best privacy with zk-snarks and then you tell us that nothing comes close to monero not even zcash?
>I'm asking not ironically because I don't understand
>namaste

1/3 of all private zcash transactions have been unmasked/linked with addresses very recently.

Also it is very computing intensive and the non mandatory privacy causes a ton of issues as only a fraction (less than 10%) of all transactions are shielded.

arxiv.org/pdf/1712.01210.pdf

So what's people expectations about SUMO?
Can we expect a BTC/ETH like situation with privacy coins for XMR/SUMO?

when bitcoin private launches, xmr will be irrelevant lol. its bad enough this piece of shit never moons

you absolute madman

how?

Zk-SNARKS have major issues which have not yet been solved. the recent paper is solving some of the issues here ie trusted setup and computation time. eprint.iacr.org/2017/1132.pdf
the thing to understand that this is bleeding edge Crypto which has not yet been thoroughly tested. additionally ZKSNARK crypto doesn't allow for auditable supply in most cases exclusion zcoin but zcoin is also somewhat shit.

good luck to you brother. just know that you will be investing in a morally bankrupt product

to be fair the last thing we need is another token that depends on eth or bitcoin. Monero is it's own network so we don't have to depend upon the kindness of monsters.

is zcoin essentialy monero 2.0 with a way lower mcap? wouldn't that be the obvious choice?

This as well.

Sort of. I love Monero and it's my biggest position but the more I think about it (and the more new investors jump into crypto as long term investment vehicles) the more I think a privacy coin with anonymous PoS rewards will take over if it can deliver a purely anonymous blockchain. I don't know enough behind the technical issues facing cryptocurrency development to know if a trustless PoS coin is possible.

No Zcoin was one of the original coins constructed from the ZeroCoin protocol paper. it uses ZK SNARKS to provide "Transaction hiding" Monero uses 3 technologys Ring Sigs, RingCT and Stealth Addresses. ZCash is built off the ZeroCash paper which by most people is considered to have Improvements over the Zerocoin paper. however Zcoin has auditable supply which would reveal coins being made from nothing. a problem they actually encountered a couple of months ago

Not to nitpick but I'm pretty sure only Zcash (from ZeroCash not ZeroCoin) decided to use zk-SNARKS. I think ZeroCoin calls their zero knowledge proofs something different. Just a technicality I guess. I read their website some time last week when they spiked a lot. They fully admit the flaw in their setup is that it's trusted, though the method they used is pretty fucking obscure. They do seem like the genuinely want to work towards making it fully trustless.

If you honestly believe this you're Delusional. The trade will continue. It must continue. There are very little working DNMs available today. Just wait til someone creates the amazon of online drug trading. It will happen. It will be done in a way that no one has done it before. And believe me it will be an XMR based market

yeah, I hold monero because like you OP, I agree that the main appeal to BIG MONEY is laundering and tax evasion.

Paradise papers reveal the extent of this activity. Monero makes it super smooth.

But is anyone else worried that it has a limitless supply?

Yeah i guess i should have just said Zero Knowledge Proof. there are tonnes of ways to create a ZKP. Fun fact RingCT in Monero (the part that hides transaction amounts) is actually a Zero Knowledge proof

Monero (XMR) will replace Bitcoin and it will be the cryptocurrency that will remain after the crypto bubble crashes. The market is irrational for now but it will eventually correct itself in the end.

The supply is limitless in the same way that Ethereum has a limitless supply. The emission rate will be so low that it will likely get lost at a faster rate.

It's true, the reason bitcoin itself ended up having definitive cash value was DNM adoption years ago.

As for the supply, I'm not worried about it. The block rewards taper pretty sharply after 2022 or so, targeting 5% yearly inflation. Between coins irretrievably lost due to a wide range of reasons and general fiat inflation, it shouldn't really have a huge negative effect on the trading value of XMR.

For healthy decentralization on a purely PoW coin, there needs to be some incentive for miners to keep mining.

True. One thing I found kind of funny on ZCoin's website when they were addressing the differences among the "Z" coins was they sort of criticized ZCash for using zk-SNARKS as their ZKP method by saying nobody really knows how zk-SNARKS actually work.

In 15 years we will exclusively use dApps.

For transactional currencies low amounts of fixed inflation encourages spending. Imagine once BTC hits its last blockreward. you as a holder of bitcoin know that your currency will be worth more tomorrow. if you and other people never spend your BTC this can create a huge economic crisis look into the great depression and Deflation its quite dangerous. However if you consider Monero to be only and Asset or store of value then yet the Inflation is kinda shitty for pure HODLers.

awesome, thank you brother

no zcash and others use zksnarks but zcoin uses the older style encryption (auditable supply)

Yeah i incorrectly said ZCoin uses ZK-SNARKS i meant to say that it uses ZKP's

nice and comfy with most of my stack in xmr