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Monero (XMR) thread
#51

Monero (XMR) thread

I told myself I would stop arguing with people about silly cryptos (I'm getting a bit sick of them), but since you asked, it's worth pointing out that Samseau doesn't actually know anything about how to analyze crypto prices or potential, so you might do better to address your question to someone else.

XVG has been around since 2015. They are, for this space, ancient, and they're not arriving "late in the game". (This could've been confirmed by a quick trip to Coinmarketcap, do you know how to use that, Samseau?)

They are not a pump and dump, because P&Ds in the billion dollar marketcap range are mostly unheard of. You just can't move that kind of money around easily. Once something gets up there, it tends to stay up there. XVG's current mcap is 3.4 billion, making it twice as big as forum favorite OmiseGo, and bigger than Monero was at the start of this month. What's more, the google trends for "buy verge" versus "buy monero" are off the charts, with "buy verge" winning out by THREE TIMES. (Did you think to look at the google trends, Samseau?)

They have the technically innovative "Wraith Protocol" coming up, which Samseau somehow missed. (How the HELL did you miss that, Samseau? It's huge.) The merits of the Wraith Protocol are beyond the scope of this post, but just know that it's a big, privacy-focused technical upgrade that is unique to Verge, and also has a cool, catchy name.

XVG is likely to remain in the billion+ marketcap range for some time, even after it's massive pump. There's a chance it may overtake XMR, as that would only require another 2x (It's 3.5 bill and XMR is 6.5 bill), which isn't out of the question with the current state of the market and its google trends showing, though I won't go so far as to predict that.

I would not recommend a purchase right now, after the 132% gain it had today, but it's one to keep an eye on.

Samseau: You screwed up the coin's age. You screwed up the coin's features, including basic info that every amateur on 4chan and reddit knows. You screwed up the significance of its marketcap. Instead you focused on goofy irrelevancies like whether the original codebase was cryptonote or bitcoin. I don't think you got a single thing right in your post. Why on Earth do you feel you're qualified to be giving advice to anybody?
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#52

Monero (XMR) thread

Looked like a new coin because their blackpaper was released at earliest of 2017:

https://github.com/vergecurrency/Verge-B...rrency.pdf

Also pretty much most people have the same impression of Verge as a pump n'dump as I have, see:

https://medium.com/verge-currency-xvg/wh...1dfb289cda

Comments:

Quote:Quote:

So much bullshit and hype in this article, sorry to say. Multi-ledger blockchains have existed way before Wraith. Shadowcash has had almost the exact same privacy setup as your Wraith protocol as early as late 2014 or early 2015. They even had ring signatures on top of their stealth addresses which Wraith doesn’t seem to have. Shadowcash has since converted to Particl, and now offers 3 states of privacy, with two of them being more anonymous than simply using stealth addresses (which by the way, offers minimal privacy if not used at least with ring signatures).

Quote:Quote:

There are many privacy coins with better privacy protocols than XVG (XMR, ZCash, PART, PIVX, etc) that are fully compatible with tor.

Quote:Quote:

What a load of crap. If anything XVG is late to the game and has a total disregard for fungibility like many other ‘privacy coins’.

To claim it as the only truly untraceable currency is ludicrous at best, if anything it’s rather bad when it comes to privacy and fungibility compared to the ones with really good tech like Monero.

What XVG IS though, is a big hype machine, pump’n’dump baby.

I can't find any faulty reasoning with the above quotes.

As for Verge being around since 2015:

Barely anyone bought this shitcoin until late 2017. Hardly a sign of life in 2015 or 2016. You're telling me this is ancient?

Looks like it's entire movement was due to a few strong hands until someone decided to market this coin up the ass. Why should anyone trust this?

Rather than me answer my "credentials," a bigger question is why you are shilling so hard for verge right now? [Image: huh.gif]

Contributor at Return of Kings.  I got banned from twatter, which is run by little bitches and weaklings. You can follow me on Gab.

Be sure to check out the easiest mining program around, FreedomXMR.
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#53

Monero (XMR) thread

Quote:[url=https://twitter.com/fluffypony/status/944658964796633088][/url]

[Image: laugh5.gif]

Contributor at Return of Kings.  I got banned from twatter, which is run by little bitches and weaklings. You can follow me on Gab.

Be sure to check out the easiest mining program around, FreedomXMR.
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#54

Monero (XMR) thread

Yet more shade on verge:

https://monero.stackexchange.com/questio...-verge-xvg

Quote:Quote:

I would like to have a comparison between the privacy features of Monero vs Verge. I have heard some people say that these are privacy-oriented coins, and I would like to learn more.

Top answer:

Quote:Quote:

Despite both being advertised as privacy-focused cryptocurrencies, they are very different.

Summary
Monero uses ring signatures, RingCT, and stealth addresses to hide information on the blockchain. For every transaction, there is no way for an outside observer to determine the sending address, the amount sent, or the receiving address. Optional transparency can be provided off-chain by giving the desired person(s) the view key. Monero can be used with Tor or I2P manually, and Kovri is being worked on to provide native anonymous routing functionality.

Verge was forked from Dogecoin under the original name DogecoinDark. It uses the same exact technology as Bitcoin and Dogecoin on the blockchain. For every single transaction, the sending address, amount, and receiving address are all visible. Verge users can optionally use Tor to send transactions.

Impact
Let's walk through a few use-case situations to compare how these coins protect the privacy and security of users.

Situation 1: Bob buys cryptocurrency on an exchange. Suppose this exchange complies with all local legal regulations and collects significant information about its users, including their address, IP address, name, and social security number.

With Monero, you can send coins off the exchange. The exchange knows what address you send the funds to, but it does not know how much money is in the address, and it does not know where the money will be spent in the future. Once it leaves their possession, the exchange doesn't know anything about it.

With Verge, the exchange knows what wallet you withdraw the money to, and it knows the balance of the account. It knows every other transaction involving this address in the past and in the future. It can track the funds sent throughout every address the funds touch forever.

Situation 2: Alice deposits cryptocurrency on an exchange. Suppose this exchange collects information as mentioned before.

With Monero, the exchange does not know what address the funds came from, and it does not know what this money was previously used for. It does not know the balance of this address.

With Verge, the exchange knows the address the money is coming from, the address's balance, and every transaction this address is associated with in the past and in the future. It can track the funds sent to the exchange throughout their past to learn exactly how they were transferred between different addresses.

Situation 3: Charlie buys coffee with cryptocurrency at a local shop.

With Monero, the shop owner does not know what address the funds came from, and it does not know what this money was previously used for. It does not know the balance of this address.

With Verge, the shop owner knows the balance of the address, and it knows how this money was previously used. The shop can audit the incoming funds to determine if they are "clean" or "tainted"; they can refuse payment of "tainted" funds or charge a higher rate. The shop owner can attempt to charge a wealthy customer more and threaten to steal their funds. It knows if this address is used in the future.

Situation 4: Dan receives payment from a stranger.

With Monero, Dan does not know the address of the stranger. The stranger knows Dan's address. Dan and the stranger do not know anything about their transaction history.

With Verge, Dan knows the address and balance of the stranger. The stranger knows the address and balance of Dan. They each know all transactions made with these accounts, including any possible transactions in the future.

A Note About IP Address Obfuscation
Tor and I2P can be used by pretty much any cryptocurrency, including Bitcoin and Monero. You do not need to use a separate coin to receive the benefits of routing traffic through Tor. These are separate things.

The IP address of a transaction is never stored on the blockchain. It is only leaked as metadata to nodes that you are connected to. For instance, suppose Alice runs a full node and sends a transaction. Suppose she is connected to 8 of 1000 nodes on the network. Only these 8 nodes receive her IP address, and they do not know for certain that they were the first to receive the transaction request. There is still a level of uncertainty.

Hiding an IP address is not nearly enough to have privacy. It must be combined with an obfuscated blockchain. If a user had to choose one over the other, they should prefer an obfuscated blockchain, since the blockchain information is shown to the entire network and stored forever.

A Note About the "Wraith Protocol"
Verge has been advertising the including of the "wraith protocol" in their coin for some time now. The "wraith protocol" is a rebrand of stealth addresses used in Monero and other CryptoNote coins. It has not yet been implemented.

Monero and other CryptoNote coins have had mandatory stealth addresses for their entire histories. Verge plans to make this feature optional, and NOT include other features such as ring signatures or confidential transactions.

This feature only really works if everyone uses it. It offers little to no protection if only a small fraction of people actually use it. The majority of the blockchain will still be completely transparent, which means there will be little or no privacy protection for those using the "wraith protocol."

Also, as for this tweet:

[Image: Screen%20Shot%202017-09-30%20at%203.20.52%20PM.png]

Extremely cryptic. I'm sure Fluffy's idea of Lightning is vastly different than other coins, so I will wait and see before jumping to conclusions. He knows he loses everything if he compromises the privacy of Monero so I doubt he'll do anything stupid.

Contributor at Return of Kings.  I got banned from twatter, which is run by little bitches and weaklings. You can follow me on Gab.

Be sure to check out the easiest mining program around, FreedomXMR.
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#55

Monero (XMR) thread

right now, XMR has climbed onto my list of coin I truly believe in. As a person that missed out buying this at $50 I'm going to say this thing is still severely undervalued and I'm trying my best to secure myself some before everyone else realises how good this thing is. Even McAfee said monero can potentially overthrow BTC as the king.

Someone, please convince me that XMR is not the king in terms of privacy features. Is zcash, pivx or possibly ETH similar or better than XMR? Seems like XMR was the only coin immune to FBI scrutiny. Does the dark net prefer another privacy coin?
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#56

Monero (XMR) thread

Quote: (12-23-2017 02:32 PM)SamuelBRoberts Wrote:  

I told myself I would stop arguing with people about silly cryptos (I'm getting a bit sick of them), but since you asked, it's worth pointing out that Samseau doesn't actually know anything about how to analyze crypto prices or potential, so you might do better to address your question to someone else.

XVG has been around since 2015. They are, for this space, ancient, and they're not arriving "late in the game". (This could've been confirmed by a quick trip to Coinmarketcap, do you know how to use that, Samseau?)

They are not a pump and dump, because P&Ds in the billion dollar marketcap range are mostly unheard of. You just can't move that kind of money around easily. Once something gets up there, it tends to stay up there. XVG's current mcap is 3.4 billion, making it twice as big as forum favorite OmiseGo, and bigger than Monero was at the start of this month. What's more, the google trends for "buy verge" versus "buy monero" are off the charts, with "buy verge" winning out by THREE TIMES. (Did you think to look at the google trends, Samseau?)

They have the technically innovative "Wraith Protocol" coming up, which Samseau somehow missed. (How the HELL did you miss that, Samseau? It's huge.) The merits of the Wraith Protocol are beyond the scope of this post, but just know that it's a big, privacy-focused technical upgrade that is unique to Verge, and also has a cool, catchy name.

XVG is likely to remain in the billion+ marketcap range for some time, even after it's massive pump. There's a chance it may overtake XMR, as that would only require another 2x (It's 3.5 bill and XMR is 6.5 bill), which isn't out of the question with the current state of the market and its google trends showing, though I won't go so far as to predict that.

I would not recommend a purchase right now, after the 132% gain it had today, but it's one to keep an eye on.

Samseau: You screwed up the coin's age. You screwed up the coin's features, including basic info that every amateur on 4chan and reddit knows. You screwed up the significance of its marketcap. Instead you focused on goofy irrelevancies like whether the original codebase was cryptonote or bitcoin. I don't think you got a single thing right in your post. Why on Earth do you feel you're qualified to be giving advice to anybody?

Come on Sam - Samseau is a beacon of light in this forum. He was the first to point out Trump would be a thing. He's probably one of the smartest dudes on this forum with the foresight to make us rich with crypto. If he was in Crypto earlier I would have invested in this at $50 instead of $330. To be honest, I think we are still early if XMR goes to something stupid like 20k.
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#57

Monero (XMR) thread

Monero is easily the most useless coin.

To date, there have been a grand total of ZERO transactions.

[Image: DR10_TjW4AAkp34.jpg:large]
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#58

Monero (XMR) thread

If its secure, how would you know how much has been sent?
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#59

Monero (XMR) thread

Quote: (12-27-2017 01:56 AM)Tactician Wrote:  

Monero is easily the most useless coin.

To date, there have been a grand total of ZERO transactions.

[Image: DR10_TjW4AAkp34.jpg:large]

I'm not sure if you're trolling, but try a different website:

https://moneroblocks.info/stats

Not happening. - redbeard in regards to ETH flippening BTC
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#60

Monero (XMR) thread

I should have added the banana [Image: banana.gif]

Edit: I'm damn optimistic about Monero mooning. It's been increasing steadily and people are starting to find about it. Also, every time I have a AML-foiling daydream, there's always a step involving, "and then I convert it into Monero, and I'm Scot-free."
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#61

Monero (XMR) thread

Doesn't the fact that almost the entire first half of the Verge 'blackpaper' consists of explaining other technologies rather than talking about the actual cryptocurrency give away that it is a shit meme coin? (if being a clone of dodgecoin wasn't enough).

People are so retarded in this current crypto market that you shouldn't really be surprised that a shitcoin gets a 1 billion dollar pump and dump caused by some guy called John McAfee tweeting about it.
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#62

Monero (XMR) thread

Forgive a newbie question, but is there a good way to buy Monero with US dollars? I've googled around a little bit and what I'm seeing seems to indicate that the preferred method is to buy BTC and convert it to Monero. Also, apparently geographical location makes a difference in how you can buy Monero. I'm currently in Central America but would be buying with a credit card from a US bank.

Again, I'm very new to crypto so I may have misunderstood some or all of the above.

Feminism in ten words: "Stop objectifying women! Can't you see I've hit the wall?" -Leonard D Neubache
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#63

Monero (XMR) thread

Quote: (12-27-2017 09:31 PM)bucky Wrote:  

Forgive a newbie question, but is there a good way to buy Monero with US dollars? I've googled around a little bit and what I'm seeing seems to indicate that the preferred method is to buy BTC and convert it to Monero. Also, apparently geographical location makes a difference in how you can buy Monero. I'm currently in Central America but would be buying with a credit card from a US bank.

Again, I'm very new to crypto so I may have misunderstood some or all of the above.

The easiest way that I've found is to buy ETH with USD on GDAX or Gemini, and then transfer the ETH to an exchange that has an ETH/XMR pair, such as Binance or Bittrex. I've found that Binance has higher volume for this pair, so it is easier to fill your order. But beware, Binance had XMR withdrawals disabled until about a day ago. Also, it costs 0.04 XMR to withdrawal from Binance.

Buying BTC to get XMR is not recommended because of high fees and long wait times. When transferring ETH, it costs me about $0.30 and takes about 10 minutes.

It looks like Kraken has a USD/XMR pair, but I don't have any experience with that exchange.
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#64

Monero (XMR) thread

Great thread, was able to grab half a monero. Will invest more later this week. I actually had no idea they were using Monero in the dark net. Keep the great info chugging along!
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#65

Monero (XMR) thread

Quote: (12-28-2017 03:58 AM)Lampwick Wrote:  

Quote: (12-27-2017 09:31 PM)bucky Wrote:  

Forgive a newbie question, but is there a good way to buy Monero with US dollars? I've googled around a little bit and what I'm seeing seems to indicate that the preferred method is to buy BTC and convert it to Monero. Also, apparently geographical location makes a difference in how you can buy Monero. I'm currently in Central America but would be buying with a credit card from a US bank.

Again, I'm very new to crypto so I may have misunderstood some or all of the above.

The easiest way that I've found is to buy ETH with USD on GDAX or Gemini, and then transfer the ETH to an exchange that has an ETH/XMR pair, such as Binance or Bittrex. I've found that Binance has higher volume for this pair, so it is easier to fill your order. But beware, Binance had XMR withdrawals disabled until about a day ago. Also, it costs 0.04 XMR to withdrawal from Binance.

Buying BTC to get XMR is not recommended because of high fees and long wait times. When transferring ETH, it costs me about $0.30 and takes about 10 minutes.

It looks like Kraken has a USD/XMR pair, but I don't have any experience with that exchange.

Thanks for your reply. I was actually looking into Kraken to pick up some XRP too, so I've at least heard of it. I'll look into it some more.

Feminism in ten words: "Stop objectifying women! Can't you see I've hit the wall?" -Leonard D Neubache
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#66

Monero (XMR) thread

XMR is popular with drug dealers, they have a vested interest in security.

That's all I need to know and probably why monero will be king.
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#67

Monero (XMR) thread

Yep, it actually has a valuable use in the real world.

Since there are so many different cryptos and we obviously can't have threads on all of them. It might be useful to have threads on different types of coins, for example coins focusing on privacy.

Which other coins with similiar features should we be looking at? and how do they compare to Monero?

"Especially Roosh offers really good perspectives. But like MW said, at the end of the day, is he one of us?"

- Reciproke, posted on the Roosh V Forum.
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#68

Monero (XMR) thread

For those who think Verge is a privacy coin

http://xvg.keff.org/

Likes denote appreciation, not necessarily agreement |Stay Anonymous Online Datasheet| Unmissable video on Free Speech
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#69

Monero (XMR) thread

https://news.bitcoin.com/privacy-coin-ve...addresses/

^^^^ yep
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#70

Monero (XMR) thread

Quote: (12-29-2017 12:14 PM)The Beast1 Wrote:  

XMR is popular with drug dealers, they have a vested interest in security.

That's all I need to know and probably why monero will be king.

Don't forget ransom. It's good for paying ransoms.

Although I haven't gotten the whackadoo returns like I did with Bitcoin cash, Bitcoin, and some other screwy little ones, I like monero. Because there's no whackadoo value increases, I'm led to believe it is stable.

Stable doesn't get me my Ferrari, but that's what the others are for.

Aloha!
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#71

Monero (XMR) thread

Nice little gain today. Thanks Sandra.

Aloha!
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#72

Monero (XMR) thread

Sandra means Samseau. Autocorrect mistake.

Aloha!
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#73

Monero (XMR) thread

I thought we are all going to start taking the piss by calling each other girl's names for a second there. I'm disappointed now.

Wait a second, I don't even need to come up with a clever name, I just checked Google....

What is the meaning of the name Kona?
Hawaiian name meaning Lady. Also a lovely village in Hawaii where Iron Man Hawaii is held. Many well known products are named after the village such as Kona Coffee and Kona mountain bikes.

[Image: whoa.gif]

"Especially Roosh offers really good perspectives. But like MW said, at the end of the day, is he one of us?"

- Reciproke, posted on the Roosh V Forum.
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#74

Monero (XMR) thread

Monero looks good for privacy, but still has diminishing rewards for mining over time. The rate of new coin emission decays exponentially.

Unlike Bitcoin, which flattens out entirely with a limit of 21k BTC, Monero settles into a fixed linear growth. This is an advantage, but only a slight one. Monero promises that linear growth will mean zero inflation, but nothing about whether the money emission will be adequate to sustain it's value as currency. More importantly, it does nothing to address the exponential decay of the reward rate, where early miners reap huge rewards while latecomers get very little. It will be something like 50 years before the tail emission catches up to the first 5 years. Monero will have to continue increasing in value (iow be deflationary) in order for mining to be worth it as coin rewards diminish. This deflationary property works heavily against any digital coin's utility as a viable currency. If it's not deflationary, block mining will have to be funded by something else, like transaction fees, at which point people might start deciding that trading money with fiat is cheaper than Monero unless you are money laundering.

Here's a graphical analysis of Monero vs Bitcoin money supply and block reward:

https://imgur.com/a/De0G2

Note that the point of those images is to show that Monero block rewards are predicted to always beat Bitcoin rewards, except in a few edge cases due to the BTC cliffs. But what that really shows me is that Monero's reward schedule far more aggressively favored early miners. Over half of the existing supply appears to have been mined within the first year.
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#75

Monero (XMR) thread

Quote: (01-04-2018 01:26 PM)Blaster Wrote:  

Monero looks good for privacy, but still has diminishing rewards for mining over time. The rate of new coin emission decays exponentially.

Unlike Bitcoin, which flattens out entirely with a limit of 21k BTC, Monero settles into a fixed linear growth. This is an advantage, but only a slight one. Monero promises that linear growth will mean zero inflation, but nothing about whether the money emission will be adequate to sustain it's value as currency. More importantly, it does nothing to address the exponential decay of the reward rate, where early miners reap huge rewards while latecomers get very little. It will be something like 50 years before the tail emission catches up to the first 5 years. Monero will have to continue increasing in value (iow be deflationary) in order for mining to be worth it as coin rewards diminish. This deflationary property works heavily against any digital coin's utility as a viable currency. If it's not deflationary, block mining will have to be funded by something else, like transaction fees, at which point people might start deciding that trading money with fiat is cheaper than Monero unless you are money laundering.

Here's a graphical analysis of Monero vs Bitcoin money supply and block reward:

https://imgur.com/a/De0G2

Note that the point of those images is to show that Monero block rewards are predicted to always beat Bitcoin rewards, except in a few edge cases due to the BTC cliffs. But what that really shows me is that Monero's reward schedule far more aggressively favored early miners. Over half of the existing supply appears to have been mined within the first year.

Yep. It's still a business. To get early miners, they give out large rewards. To get late miners, they rely on a soaring price of the coin. Certainly not perfect but if the price of the coin takes off it will succeed.

Contributor at Return of Kings.  I got banned from twatter, which is run by little bitches and weaklings. You can follow me on Gab.

Be sure to check out the easiest mining program around, FreedomXMR.
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