Topic: [XMN] MAGNATOJ Untraceable payments. CryptoNote & ForkNote -CPU Minable [GAMING] - page 5. (Read 19885 times)

As slbb stated, magnatoj will be using block version 2.0 . All users need to update their config.

I understand ..

Hello,

It is needed to hardfork to keep the development simple for Magnatoj. The reasons are historical - Bytecoin hardforked to blocks with version 2.0 in the past and Magnatoj needs to do the same. It is better to do it now before the community gets larger or a tricky bug occur.

To be part of the right blockchain you need is to update CRYPTONOTE_BLOCK_GRANTED_FULL_REWARD_ZONE and UPGRADE_HEIGHT in your configuration file:

Alternatively, you can download the whole configuration file:
https://github.com/forknote/configs/blob/master/magnatoj.conf

Or just download the newest version of Forknote (v1.0.9), which contains the new magnatoj.conf:
http://forknote.net/download/

The height of the harfork is set to roughly 5 days from now.

There are not many options really...
Smaller exchanges, like c-cex and yobit, don't add cryptonotes.
The only really option is poloniex and bittrex, but there are aeons since the last add of a cryptonote coin.

any news about exchange?

If governments use this type of technology:

- Multiparty security
- Offline payments
- Detection of double spending
- Untraceable payments

What can they say about a citizen using XMN for being untraceable?

They can't, this is the main reason XMN cannot be regulated.

whether it will be active in minergate??

Maybe put a magnatoj on minergate.

exchanges??

This should also be seen as Satoshi Nakamoto principle of "one-CPU-one-vote", which is explained in cryptonote whitepaper:

"2.2
The proof-of-work function
Bitcoin creator Satoshi Nakamoto described the majority decision making algorithm as “one-
CPU-one-vote” and used a CPU-bound pricing function (double SHA-256) for his proof-of-work
scheme. Since users vote for the single history of transactions order [1], the reasonableness and
consistency of this process are critical conditions for the whole system.
The security of this model suffers from two drawbacks. First, it requires 51% of the network’s
mining power to be under the control of honest users. Secondly, the system’s progress (bug fixes,
security fixes, etc...) require the overwhelming majority of users to support and agree to the
changes (this occurs when the users update their wallet software) [6].Finally this same voting
mechanism is also used for collective polls about implementation of some features [7].
This permits us to conjecture the properties that must be satisfied by the proof-of-work
pricing function. Such function must not enable a network participant to have a significant
advantage over another participant; it requires a parity between common hardware and high
cost of custom devices. From recent examples [8], we can see that the SHA-256 function used
in the Bitcoin architecture does not posses this property as mining becomes more efficient on
GPUs and ASIC devices when compared to high-end CPUs.
Therefore, Bitcoin creates favourable conditions for a large gap between the voting power of
participants as it violates the “one-CPU-one-vote” principle since GPU and ASIC owners posses
a much larger voting power when compared with CPU owners. It is a classical example of the
Pareto principle where 20% of a system’s participants control more than 80% of the votes.
One could argue that such inequality is not relevant to the network’s security since it is not
the small number of participants controlling the majority of the votes but the honesty of these
participants that matters. However, such argument is somewhat flawed since it is rather the
possibility of cheap specialized hardware appearing rather than the participants’ honesty which
poses a threat. To demonstrate this, let us take the following example. Suppose a malevolent
individual gains significant mining power by creating his own mining farm through the cheap
2hardware described previously. Suppose that the global hashrate decreases significantly, even for
a moment, he can now use his mining power to fork the chain and double-spend. As we shall see
later in this article, it is not unlikely for the previously described event to take place."

We are currently studying several options to satisfy this principle even more than it is already.

It reminds me of Bytecoin's donations in their GUI Wallet, but they are closed source. Are you going to replicate this features?

Also, is there a GUI Wallet with mining on Forknote?

As you guys know we plan to incorporate XMN in various games, besides the matter of scalability an important matter is where do this funds come from.

There are several options:

- Oficial Pool fee
- Transaction fee's

At first sight we planned to create transaction fee's to a determined XMN address, however this isn't reliable, I will explain why:

-It isn't self automated.
-Transaction fee's would have to be scaled from time to time according to the network which is not self-automated too.


Leaving us with 1 option for now:

- Micro-donations


Micro-donations:

1. Random donations - a percent of the sum depending on the available outputs. The user will be able to select the approximate desired amount for donation: from 0.1% to 10%. If there is a change input close enough to the target, it will be used as a donation.

2. Donation mining - the user who is mining in pools from the GUI Wallet will be be able to specify donation address and percentage of donation mining shares (0-100%) that will be contributed for any donation.

Micro-donation (2) allow miners to decide indirectly how much will gamers earn. We've decided at this stage, that this is the way to go as are them who sustain the network.

Therefore, I've created an address, feel free to donate to the gaming fund:

XMN:

+ Payments are unlinkable to identity.
+ Avoid taxes.
+ There is no real reason money should be linked to personal identity.
   Crypto credit/debit cards

Bitcoin:

- Payments are linkable
- Various reasons for governments to want traceable transactions, which will lead to:
        Law enforcement
        -Taxes
   Crypto credit/debit cards [ taxes? (-) ? ]

This might not have meaning for most of you, but it has to us.

Magnatoj

No way hose

Around 50000000000000000 @sat will be the price.

good joke 

Around 50 @sat will be the price.

We won't know until it's on the exchanges

Please dont get ridiculous, we all can see the block reward of this coin, this is more a 20000sat coin than 2 sat one.

other waste of coin will be worth one satosis or 0.00000001 LTC , one for coins cemetery not waste your time and energy and over in the road map puts nothing of exchange