One thought I did have is that level of covert privacy revealing can become quite extensive when one considers that chains may exist that exist entirely on a lan.
Consider the vast majority of systems running backdoored Intel hardware, non airgapped cpu's and of course non Foss os's that could just be another brick in the dragnet.
Consider that someone may already have your private keys, but never want a single dollar from you in regards to stealing your moneros.
I think this was always advertised as not tla-secure though, but definitely Enterprise level anonymity..
Just speculation..
Topic: I have a thought on the Scamcoin MoneroV Chain Grab and Questions (Read 104 times)
April 19, 2018, 01:11:57 PM
Sounds like a bottomless pit of free money for scammers...
April 19, 2018, 11:27:59 AM
As this chain copy will add a weakening of the main Monero chain should Monero whales and community Purchase the Airdrop coins from the smaller Monero holders that will be cashing in on this scam?
It would seem to me that it would be advantageous for them to do so before the snapshot. As a matter of fact there would be an enticement for everyone to take the guaranteed increase as opposed to gambling on what the scamcoin will be worth.
They of course could do this by just straight out buying coins to remove them from the market but this is not really a cost effective way of accumulating as many as possible as driving the price up 20% (or whatever) only to have it fall to pre pump levels is essentially taking a loss with no benefit.
What about setting up a system to buy Moneros (pre chain copy) with the expressed specific goal of returning those coins with a bonus to the individuals that do not want to participate but feel the economic need to?
IOW say I am flush and can afford to throw some of my stash at the community (to protect my investment) and offer that to anyone that wishes to accept that rather than participate in the MoneroV scam? Also lets say I decide I can afford 10% then I could offer that but consider that many could only afford 1% then how can they can pool their resources to achieve the pledged amount?
Now how we can do this without the people contributing the enticement actually having to place it all into escrow?
Is there a way that the originators can send their funds to a new address and then the reward of 10% is added and that wallet cannot be used until after the fork?
HOW can this be made Trustless?
Can contracts be setup for this to make it trustless or would it have to involve escrow?
Could we not setup an exchange where A sends coins to B and post Chain copy B returns A amount + 10% to A's new address after the chain grab?
Could we use a decentralized exchange for this? Would the newly integrated multisig help in this regard?
I wish I understood the mechanics of all this better but I think this could work for both sides of this, the Eternal Holders and those that are riding the wave to grab the expected returns. By setting a specific return value that could entice those that don't want to but are going to cash in on the scam and also those that would rather accept the 10% guaranteed return as opposed to the who knows what if anything the new scam coin would be worth.
Note, I am only using 10% as a placeholder example in this post.
If anyone can think of a better way to do this then please share that.
BTW if I were to take coins on the copied chain and send them to a burn address would that cause the same loss of chain integrity as if using them would have or would the safest way just be to leave then where they lie?
ALSO should all Coins even those that you have no plans to convert be moved to a new Address Prior to this chain grab (did I just make that term up?) for the security of the chain? should all exchanges (well those that use single wallets still it should be easy for) move coins to new addresses before the snapshot?
I have another thought on how to mitigate these type attacks in the future, I we can all agree that this is indeed an attack on the integrity of the chain then as a community we should take action and not allow these type things to happen in the future just like we did with the ASIC threat.
It would seem to me that it would be advantageous for them to do so before the snapshot. As a matter of fact there would be an enticement for everyone to take the guaranteed increase as opposed to gambling on what the scamcoin will be worth.
They of course could do this by just straight out buying coins to remove them from the market but this is not really a cost effective way of accumulating as many as possible as driving the price up 20% (or whatever) only to have it fall to pre pump levels is essentially taking a loss with no benefit.
What about setting up a system to buy Moneros (pre chain copy) with the expressed specific goal of returning those coins with a bonus to the individuals that do not want to participate but feel the economic need to?
IOW say I am flush and can afford to throw some of my stash at the community (to protect my investment) and offer that to anyone that wishes to accept that rather than participate in the MoneroV scam? Also lets say I decide I can afford 10% then I could offer that but consider that many could only afford 1% then how can they can pool their resources to achieve the pledged amount?
Now how we can do this without the people contributing the enticement actually having to place it all into escrow?
Is there a way that the originators can send their funds to a new address and then the reward of 10% is added and that wallet cannot be used until after the fork?
HOW can this be made Trustless?
Can contracts be setup for this to make it trustless or would it have to involve escrow?
Could we not setup an exchange where A sends coins to B and post Chain copy B returns A amount + 10% to A's new address after the chain grab?
Could we use a decentralized exchange for this? Would the newly integrated multisig help in this regard?
I wish I understood the mechanics of all this better but I think this could work for both sides of this, the Eternal Holders and those that are riding the wave to grab the expected returns. By setting a specific return value that could entice those that don't want to but are going to cash in on the scam and also those that would rather accept the 10% guaranteed return as opposed to the who knows what if anything the new scam coin would be worth.
Note, I am only using 10% as a placeholder example in this post.
If anyone can think of a better way to do this then please share that.
BTW if I were to take coins on the copied chain and send them to a burn address would that cause the same loss of chain integrity as if using them would have or would the safest way just be to leave then where they lie?
ALSO should all Coins even those that you have no plans to convert be moved to a new Address Prior to this chain grab (did I just make that term up?) for the security of the chain? should all exchanges (well those that use single wallets still it should be easy for) move coins to new addresses before the snapshot?
I have another thought on how to mitigate these type attacks in the future, I we can all agree that this is indeed an attack on the integrity of the chain then as a community we should take action and not allow these type things to happen in the future just like we did with the ASIC threat.
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