[ANN][BMR] Bitmonero - a new coin based on CryptoNote technology - LAUNCHED - page 9.

tacotime

legendary

Activity: 1484

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Quote from: GreekBitcoin on April 23, 2014, 10:58:02 AM

Well you can also still solo mine too. Got 4 blocks over the night Tongue

If the network continues to grow at the current rate, likely we will see an end to solo mining in a week or two. However, we already have all the RPC functions we need to make pools, which is good news.

A P2Pool implementation for ByteCoin/BitMonero would be something wonderful, but likely very complicated.

tacotime

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Quote from: TTM on April 23, 2014, 10:51:15 AM

Since Cryptonote act like a decentralized mixing method, it only make transaction become harder to trace, not completely untraceable as OP claimed.

It's quite similar to Darkcoin which is self claimed to be anonymous currency, but privacy of both is not strong enough for people who crave for a comletely anonymous currency, like myself.

Cryptonote is cool but i think i'll wait till May/June for Zerocash realease.

CryptoNote has relatively good privacy for transmitting values throughout the network (ring signatures, stealth addressing) while not compromising things like being able to detect inflation over the network. In ZeroCash, you can only prove that coins have been generated, not the amount that was generated, so any bugs within the system will go undetected. This would have been a huge problem for Bitcoin, as there was a well known bug involving integer overflow that allowed you to generate 2 billion coins.

Note that zero knowledge proofs are used in the ring signature method by ByteCoin/BitMonero, too (see section 4.4 of the whitepaper). Obfuscation of signature linkability is much more advanced than that used in DarkCoin, and you need to read the whitepaper to truly appreciate it.

CryptoNote also has support for multisig built in, despite the much more limited scripting language as compared to Bitcoin (see Section 6.3 of the CryptoNote 2.0 whitepaper). This is important for the implementation of decentralized marketplaces like DarkMarket that use multisig to enable the blockchain to be an escrow.

GreekBitcoin

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getmonero.org

Quote from: tacotime on April 23, 2014, 10:55:43 AM

Quote from: Stanford on April 23, 2014, 08:08:05 AM

New coin based on cryptonote, interesting.

I am curious how much is this one differ from the original one ? advantages/ disadvantages?

Also wonder to hear any opinion about Bitmonero's perspective in future.

Only in a few ways:
1.) 1 min blocks.
2.) Money supply decimal is shifted so total supply is in the tens of millions.
3.) Money supply distribution is much slower (more similar to Bitcoin's instead of releasing 80% of currency in 2 years).
4.) Base block size without penalty is 20 KB instead of 10 KB.

Other than that it's the normal CryptoNote 2.0 privacy.

Well you can also still solo mine too. Got 4 blocks over the night Tongue

tacotime

legendary

Activity: 1484

Merit: 1005

Quote from: Stanford on April 23, 2014, 08:08:05 AM

New coin based on cryptonote, interesting.

I am curious how much is this one differ from the original one ? advantages/ disadvantages?

Also wonder to hear any opinion about Bitmonero's perspective in future.

Only in a few ways:
1.) 1 min blocks.
2.) Money supply decimal is shifted so total supply is in the tens of millions.
3.) Money supply distribution is much slower (more similar to Bitcoin's instead of releasing 80% of currency in 2 years).
4.) Base block size without penalty is 20 KB instead of 10 KB.

Other than that it's the normal CryptoNote 2.0 privacy.

cocoakrispies

newbie

Activity: 23

Merit: 0

Quote from: TTM on April 23, 2014, 10:51:15 AM

Since Cryptonote act like a decentralized mixing method, it only make transaction become harder to trace, not completely untraceable as OP claimed.

It's quite similar to Darkcoin which is self claimed to be anonymous currency, but privacy of both is not strong enough for people who crave for a comletely anonymous currency, like myself.

Cryptonote is cool but i think i'll wait till May/June for Zerocash realease.

You completely left out ring signatures, and the public and private one-use keys in your understanding. Please re-read those sections of the source, and then re-explain yourself.

TTM

full member

Activity: 140

Merit: 100

Since Cryptonote act like a decentralized mixing method, it only make transaction become harder to trace, not completely untraceable as OP claimed.

It's quite similar to Darkcoin which is self claimed to be anonymous currency, but privacy of both is not strong enough for people who crave for a comletely anonymous currency, like myself.

Cryptonote is cool but i think i'll wait till May/June for Zerocash realease.

GreekBitcoin

legendary

Activity: 1428

Merit: 1001

getmonero.org

cryptofella

newbie

Activity: 24

Merit: 0

Quote from: Patejl on April 23, 2014, 05:36:07 AM

I need help. How to compile this in Ubuntu 14?

I couldn't build it on Ubuntu 14 but on 13.10 it builds like described on page 14:

Quote from: tacotime on April 21, 2014, 02:21:01 PM

Quote from: Xdragon on April 21, 2014, 01:58:43 PM

diff is too high now for solo, unless you are a botnet Grin

that is strange because on bytecoin at diff 600k I could mine ~1 block per day, here diff is only 120k but no block for almost 24 h.
Maybe OP should contact minergate to add BMR pool Grin

edit: now there is a source for minergate miner https://github.com/amjuarez/bytecoin

Solo should be okay, I have been getting blocks still solo. May just be unlucky. Try compiling in ubuntu linux 13.10, you usually get about 3x higher hash rates than windows.

Only 13.10 has the correct dependencies, do not download 14.4!!!

Compile in this way:

Code:

sudo apt-get install libboost-all-dev cmake
cd $HOME/your_bitmonero_directory/
mkdir build
make -j4

Stanford

member

Activity: 314

Merit: 10

New coin based on cryptonote, interesting.

I am curious how much is this one differ from the original one ? advantages/ disadvantages?

Also wonder to hear any opinion about Bitmonero's perspective in future.

x0rcist

full member

Activity: 238

Merit: 100