Topic: Operation Shitcoin Cleanout and Clean Up Has Begun- Join the Revolution- Re-open - page 20. (Read 176798 times)

Like BCX, when I was 2 hours into analyzing Monero, I also thought it was full of holes.  I also thought so 2 days in.
Having looked further over the last few months, bought a bit, run the miners and experimented with it a bit more, I found that increasingly I am liking the solutions to what initially appeared as problems.

The highly dynamic difficulty retarget problem / fast retargeting.  The problem this is meant to solve can be a major issue for alt coins due to the prevalence of multipools which switch coins swiftly with a lot of hash power.  When adding a little bit of intention, these can leave a dynamic retargeter high and dry with high difficulty and insufficient mining to achieve a block within a reasonable amount of time.  The Cryptonote solution is fairly simple and elegant.  That said, it may be improvable, and I await the critique with some eagerness.

More than once though, when looking at Monero I thought "Oh they messed up, they have this problem" only to later see that it wasn't one.

XMR/Monero is also a CPU coin by design.  This design is likely to keep it decentralized for a good long while, and further reduces the risk presented by the dynamic difficulty re-targeting.

Have you done any previous research on the coin and can you please share with us why do you consider monero a shitcoin? There are 1000 coins and you picked this one? Must be pretty shitty if people actually message you about it. You write you spend 2 hours looking at the code, so I presume you have done also some research about the coin and can share facts you discovered that make this coin a shit worth destroying. Those people messaging you must have given some reasons why it is shit, right? Please share it.
I am looking at the OP and criteria which makes a coin a shitcoin and I cannot find a good reason for monero to be one.

Maybe you haven't realized yet that bitcoin went the way of being a globally recognized currency that is now in the process of being regulated by governments. A pseudo anonymous currency that as I am aware WILL NOT take the path of increasing the anonymity of its users. Is this not correct? Hence I see a good reason for an innovation in this field, a new type of currency for those that value anonymity and want to go where bitcoin will never be willing to go ( - which is completely alright with me). There is a huge market for something that stays in the hands of people without governments looking over their shoulder... and people are looking to solve this issue in various ways. It is a hard nut to crack and even monero might not be the ideal coin for staying truly hidden against people from secret agencies having an immense power to monitor these things - similarly to TOR, which is vulnerable to eavesdropping if you are clever and have big bucks to spend. Let the market operate and drive innovation that is i believe of high importance as a tool against totalitarian authorities. I really believe anonymity is crucial and we are running out of time to get it up and running. Bitcoin mixers are alright for now, but how long can we expect them to operate when government really steps in?

I hope this whole thread is not just another part of some pump and dump scheme destroying coins to buy cheap or something... but tries to provide some greater good for us all.

what a disgrace to the english language, friend.

we hate you because you make shitcoins as a business model. you make them and promote them. you make shit. you are shit.

please go get a real job and leave us alone forever.

thank you.

An excellent question!

Implementing ring signatures in Bitcoin is possible, but it would also be extremely clunky. Combining stealth addresses + ring signatures in Bitcoin would not only require a soft fork (possibly a hard fork if you're rejecting tx's on broadcast), but also seems somewhat incompatible with Bitcoin's current positioning and stated goals. It is unlikely this functionality will ever be added to Bitcoin. Even if it was added to Bitcoin, the reality is that an output that used a ring signature group of >1 would potentially be compromised when used as an input on a transaction with a ring signature group of 0, and this would invalidate the entire effort.

Thus, it has to be done outside of Bitcoin. So, then, the question becomes: do you fork Bitcoin and add stealth addresses and ring signatures? You could, of course, do that. The problem you'd face is that you'd forever be chasing your tail trying to merge upstream changes to implement bugfixes and features, some of which are incongruent with the design goals of a private, untraceable cryptocurrency. You'd constantly be trying to shoe-horn functionality in (SPV-style thin clients, for instance), and chances are you'd end up doing more harm than good and unwittingly compromising users.

Therefore, knowing that it can't or won't be done inside Bitcoin, and forking Bitcoin is a pretty bad idea, the academics behind the CryptoNote protocol were faced with an interesting prospect. "What else is potentially deficient with Bitcoin?" I can imagine them asking. They set out to create an alternative cryptocurrency that had the stated aims of privacy and untraceability, whilst fixing other parts of Bitcoin they thought could do with improvement. For instance, they theorised and then built a PoW that reduced the performance gap between CPUs, GPUs, and ASICs. They also created an emission schedule that is constantly and slightly decreasing rather than halving at a particular point. All of these improvements, along with very detailed mathematics for the private and untraceable transactions, are detailed in the CryptoNote whitepaper: https://cryptonote.org/whitepaper.pdf. If you are academically inclined, you may prefer to look at the raw annotations our mathematicians and cryptographers created during their peer review: http://monero.cc/downloads/whitepaper_annotated.pdf and follow that up by reading one of our mathematician's review of the whitepaper: http://monero.cc/downloads/whitepaper_review.pdf

As to why Monero, specifically, exists: the reference code for CryptoNote was originally delivered in the form of a cryptocurrency called Bytecoin (not the Bytecoin you may be familiar with, a "new" one). Unfortunately for the CryptoNote developers, when this was made available publicly in March of this year, 82% of the coins had already been mined under the guise of it being launched "on the dark web" 2 years ago (which is disputed by some people in the know). Given the nature of this ninja mine / instamine / premine / whatever situation, thankful_for_today took it upon himself to fork this CryptoNote reference code and create Monero. He has subsequently left and things have blossomed, leaving us where we are today: a 7 member core team, as well as a whole host of contributors. There is no premine or instamine with Monero, we are completely supported by donations.

Monero has since diverged from the reference code, and we are constantly and continually improving the codebase. It is the first cryptocurrency that I am aware of that uses an Electrum-style, 24-word, mnemonic seed, making backups as simple as writing down that seed when you first create your wallet. The excellent design decision to keep the daemon separate from the wallet has allowed us to maintain a CLI wallet (simplewallet) as well as a wallet specifically designed for automation / merchant systems / exchanges (rpcwallet). Multiple wallets can be run on the same machine, with only one daemon keeping in sync with the network. We are completely unencumbered by Bitcoin's monolithic design and historicity, which means we can reinvent things and improve on things as and when it is possible.

That is why we bother making and continuing to make Monero. And that is why we won't be "vanishing" regardless of Monero's valuation - price is irrelevant to our continued ability to improve Monero, because we're out to build something useful and useable. If these are not a "damn good reasons" I don't know what is.

that highlights the point of my last comment here.. these guys here think they are "in the know".. they are not !
i know the guy meant well so i don't wanna rag on him and i agree with his sensible comment.
but sorry half of you are clueless noobs that know sweet fuck all about this stuff and YOU REALLY have no idea how fucked up this shit is !
you don't know who BCX is ? or BigVern is ? or.. or.. or..

Trust me you know squat guys and even what i know from one year is little but there is people perceptive to see the signs
and there is others with their head in the ground.. far too busy kissing ass and bag holder cheerleading making scammers rich.

it's possible to run scams in plain site people are so stupid.. i found one that is still going and i am saying nothing about it for a year now
because it amuses my balls off how super fucktard stupid you are all in crypto that you don't even see the most extreme cases of scam LOL
i want to see just how damn long it will go hahhaha

most of you guys know fuck all !
because most of you popped up in Nov or Dec 2013 and have since been nothing more than a fucking puppet a BTC-ATM machine for scammy douches.
screaming hater and troll at people like me who warned you ALL ALONG !

and later recently you guys finally clue in but so what you already royally fucked up the scene bad.. no turning back now.

You geniuses made Doge coin the no. 2 coin on earth.. yeah seriously give yourselves a big pat on the back, you earned it !
And that triggered one hell of a tsunami of cloning scammy bullshit !
and i fought against it pretty much by myself as 99% of the world ganged up on me non stop..

A perfect example is my old and long topic Why Doge Coin is Bad
The abuse i put up with on the topic from bag holders and their retarded excuses was brutal.. most of the topic is them attacking me personally.
Where did they go ?
They did a vanishing act like i said they would over and over.. and the coin tanked in value like i said it would to the day.. i called it and post a graph on the day.
And i wanna rub everyone's nose in it too LOL

*Most of you all made dumb excuses for dumb shit and now you can deal with the dumb consequences.
I told you so and fuck you and kiss my ass... i am the smart one.. deal with it.  

WARNING:
It's been a while since BitcoinExpress has fed his dark passenger !

All these coins are mostly total jokes just aimed at getting a certain set of people rich. Most don't add anything and I think they detract from what crypto currency can offer to the world. Then you get these jokes of coins and people think they're all crap. And due to the anonymous nature of the forum you probably get like the same 10 people just keep making new coins and trying to pump them. Everyone wants to be a frickin hero, just stick with a few alts and let's make them good (ones that are fair and actually contribute something to tech)

Monero would be an odd choice to choose as a shitcoin, seeing as it actually does have a unique feature, anonymity via ring signatures. Cryptonote is sort of interesting -- https://cryptonote.org/

There is that bloat issue with ring signature coins, which I have no idea if they have found a solution for yet. But nah ... I wouldn't say it's a shitcoin. If Monero is a shitcoin, Jackpot coin is even lower... a lot lower.

I'll add I own no Monero at all (actually own what would be considered one of its competitors), so am not saying this to defend my holdings or anything like that. I just found it a peculiar coin to be mentioned in this thread.

WAI AR DER SO MANI CHIPS AND DORITOZ? O WAI.

The fuck.

Each coin developer, if a serious person, can make a difference. I had coins which failed, but I'm not hating others which have succeeded. I learned my lesson.

The best (arguably only) working implementation of block chain privacy. Marketing-type crap if you are interested: https://cryptonote.org/inside.php

You could arguably say that Bytecoin has that as well (and it was first) but unless you want an 82% hidden premine/ninjamine, Monero is better.

well in his defense he said he was asked to check out the "shitcoin" Monero..
and he said he found a possible vulnerability.

read what is written guys is all i can say.. again.
people here LOVE reading in between the lines lol

all i can say on my own behalf is i know little about Monero and don't care and i think most people are in the same boat with me.
but it raises a good point.. there is LOTS of these coins out there, maybe a 1,000 of them these days so..
So way i see it is if one starts to get more popular then it's going to be put the community test.
that is not about 1 man or DCGirl that is about the community and how it reacts.

I would like to know why bother making Monero at all ?
wasn't 999 coins enough ?
did we really need a fork of Cryptonote ? (whatever the fuck that is) lol

Coin devs.. we're tired
we're reaaaaaaly tired of this god damn shit !
You want us to jump on coin 1,001 then give us a damn good reason or fuck off.

edit:
And no just because they're is no exploit for a hidden premine in the code or something does not mean it's a good reason for a coin to exist.
Get it ?
An honest piece of shit clone like the other 800 is just as stupid and useless and selfish and scammy and cancerous to crypto as a hidden premine coin etc.
no smoke and mirrors please

And that's about exactly how I would see Monero, I'm quite a fan of the Cryptonote technology and although the inflation model may not be perfect, it does add a good deal to new technology that ends up benefiting everyone. BCX pointing out security flaws is good for the overall ecosystem and I too would prefer to see BCX help out Monero a bit with some advice rather than creating a little FUD with a flex of the muscle.

Because we noobs don't make money on launches and hate when others do. When we make money on launches, we shut it.
You noob has knowledge, me noob has information. When 2 noobs get along, rest of noobs hate.

Others hate because of competition.

Because none of them are any good?

Hey BCX. I'm one of the Monero core team members, so I wanted to respond to this, because I find you to be a reasonable guy.

First things first: Monero isn't forked from Bitcoin, so (thankfully) there's nothing in the way of gimmicky junk to try differentiate us from every-other-scammy-clone. Monero *is* forked from the CryptoNote reference code, which means that there is stuff that we've inherited. The difficulty retarget is interesting, as it's something defined in the CryptoNote whitepaper:


This is implemented in the code over a window of 720 blocks (12 hours), but it's a little more complex than a straight up retarget as one would get in a Bitcoin clone (as you can ascertain from the quote above). Now, I'll be honest with you, the difficulty retarget is not something we've analysed in massive amounts of detail. If you have found an implementation problem or a problem in the theory, then I encourage you to please bring it to us so we can fix it sooner rather than later. It's tough for us to individually or as a core team and group of contributors grok the codebase and figure out every possible attack, both nuanced and apparent, so any input would be greatly appreciated:) Thank you very much!

true sleuthing by the shit-patrol. 

Yeah, after 90 pages they finally found a "shitcoin". 

So is monero the target now?

agreed.. nice to see ya back in town gun slinger

when i first ran into BCX we butted heads a bit because i fet his brand of justice was uncalled for.. i was a naive noob
i soon realized there is no other recourse in this Free (For All) Market™ !
we need people to fight fire with fire and destroy the foundation from underneath these scammers and their supporters !
anyway i quickly became a fan of BitcoinExpress and through my own experience ended up sharing a lot of his views over time.

I also have more respect for scammers that don't bend over backwards playing innocent.
wanna be a thief then man up about and be a thief.. loose the sheep's cloths and grow some balls cowards !
but they can't or their scammy bs won't work lol

BCX knows more about the technical aspects of this stuff than i do and he is knowledgeable about coin vulnerabilities.
And he also had a track record of bringing many coins to their knee's swiftly !

And best of all he knows damn well all these well known top of the pyramid players are corrupt sleazy pieces of shit !
He has watched with me as they have pulled stunt after stunt and even before i came along too !
If me and BCX wrote a book on Cryptsy alone it would be bigger than phone book LOL

ALL you noobs out there need to drop the fanboyism and SEE who the hell it is your defending and how many MILLIONS of dollars they earn from you doing it !
Little shits that make 1 BTC on P&D shit coins are making the guys pulling the strings rich beyond belief !

And the ties to who is making them and the exchanges etc they run are obvious to anyone with half a brain.
I doubt most of these scammy shit coins could even get off the ground if they knew what BCX or i knew..
We're not talking about one single corrupt incident.. we're talking about new ones being pulled non stop on gullible idiots.
and they don't even know and even funnier they get all defensive and chearlead for the scammers exploiting them ..stupid crypto-puppets  

Nice to see BCX back stateside. Hope that we can count on your rigorous QA testing in the coming weeks.

Monero has seen backing from some "trusted" (high green) people on the forums so I'm curious to see were this gos. Do you plan on forking Monero like you did with Aur?