Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1967. (Read 4670562 times)

Far more likely that the majority of the hashrate comes from people around the world renting VM instances mining MRO and paying for it.  

Perhaps 250k MRO flipped, about .30 of the float.  A maximum entropy argument implies the highest probability distribution has 30% of the coins mined by botnet, albiet it has error bars that make the estimate almost useless.  If you had informative priors about the likelihood that a non-bot MRO holder would flip at that price, you could make a much better estimate.  It would almost certainly be higher.

It's sure as hell more fair than hackers having 100, 200, 300 computer botnet farms mining CPU only coins.

Last I checked, discrete GPUs are an expensive technology largely confined to rich white Western males. Let's not pretend it's 'fair'. Just like everyone else, they're an interest group trying to serve themselves. It's actually a rather tiny community in the grand scheme (the world is pretty big), but they have a disproportionate presence on this forum.

Yes, 1000BTC volume on poloniex was the result of 1337 haxorz botnet mining and then p&ding all their mro.  Dude.

The simple miner that was posted today.

Lol, this made me laugh.

Botnets, if you took any time to research at all, coins can be mined without the operator of the computer even noticing. CPU only coins always get raped by Botnets...always..And those hackers/botnet operators rake in thousands upon thousands, maybe even tens of thousands considering the pump and dump monero had on poloniex.

Algorithms which adapt well to GPU are more likely to adapt well to ASIC, all else being equal.  ASIC means centralization, which is the kiss of death for privacy and freedom.
That doesn't mean privacy and freedom are easy to achieve if one can avoid centralization, or that non-ASIC algorithms imply decentralized control.  Stuff's hard.
Moreover botnets have GPUs.  Increasingly it is hard to find a CPU which is not associated with a similarly scaled level of SIMD compute, typically via one of the mainstream GPU ISAs.
I think peer-whitelisting is the only viable way forward towards excluding botnets.  It's not easy, and it's not guaranteed, but it is worth trying.

For your education: DKOM
https://en.wikipedia.org/wiki/Direct_kernel_object_manipulation
https://en.wikipedia.org/wiki/File:Unlinking_EPROCESS.png

It's fairly trivial for a rootkit to entirely hide a process.  You can quite literally run a CPU miner and the processor usage sits under idle in all task managers.

Which miner?

Finally got my fx-8320 and am getting around 200H/s. Way better than the 40 I was getting with my phenom x4 840. Hopefully it helps me pay off the new processor now haha!

Nobody uses botnets to mine coins, a constantly pegged CPU is very noticeable to just about anyone with a pulse.

Absolutely absurd.  CPU mined coins are not "fair" in any measurable way.  CPU-only mining results in botnet owners/criminals manipulating the network.  Period.  Your cheap i3 will never get a reasonable portion of the network, because there will be millions of drone computers mining for their masters.  GPU mining levels the field.

Highly unlikely.  This was said about scrypt (which became rapidly GPU mined) - in fact many things ring very similar. The main 'protections' against GPUs and ASICs that are claimed of CryptoNight are related to L3 cache speed and scratchpad size requirements.  Guess what?  The same was said about scrypt...

Actually I don't think a GPU can be faster one-on-one, as the PoW depends heavily on the characteristics of the CPU. If CryptoNight ASICS do become a reality, I believe the GPU mining phase will be skipped entirely.

This is the normal course of events.  I predicted this, and profited by it.  MRO traded off-exchange rose 10x in two weeks, and when it hit the exchange, the initial inflow of fiat pushed it up 4x from there.  By 0.008 the top was obvious, and I sold half of my MRO.  I predicted a bottom at .004 but I was delayed in checking my computer, so I didn't start buying until 0.0027.  I think 0.0026 was the bottom, the end of a slide after one dead-cat bounce.  Now it is reboot time.  The weak hands have shaken out.  The miners who needed liquidity and/or have low long-term confidence in the coin (probably most of them, as miner's have other qualifications) have sold.  I am almost fully loaded again (and in fact have converted some BTC again, since I perceive 0.0026 to be a very very good opportunity).  Thus my actions attest that I think the bottom is in, at the 0.382 fibonnaci retracement level.  If I am wrong however, I will definitely add more (although probably I will recharge BTC from fiat as well, if I spend some on MRO, as I am uncomfortably low on BTC right now) around 0.00128.  I don't expect the next topping level to be lower than 0.0129, and I do not plan to sell any below that unless there is a transient spike, as any low liquidity environment is prone to admit, and I happen to be present for it.  I intend to add to my postion gradually until it meets my long-term goals.

(My conceit is that by smoothing out the volatility spikes, I add a valuable service, which aids in price discovery, and creates the humane reassurances of relative price stability.  Folks don't mind a gradual rise, but large sharp swings creates a kind of justifiable skepticism, and a degree of fear regarding where the price will be when liquidity is required.   "Gradual" is relative to the exchange history, of course.  I definitely find it enjoyable and personally lucrative to provide this service.  Probably I should spend more time writing code, and less time trading and talking.  I am not an MRO code contributor so far.  I am extremely well qualified to be one, however, at least technically.)

I would advise anyone (who is a friend, not an enemy) with discretionary investment funds to allocate a portion to MRO, because the chances are not bad that MRO will become the dominant privacy-enhanced liquidity vehicle of the coming decade, and in my estimation such a vehicle should command a market cap in the range of trillions of USD, once it reaches maximum penetration.  Even a small chance of such an outcome is worthy of attention in any rational portfolio.  On a time-scale of decades, the present price is largely irrelevant to the decision.  If you don't need to spend the money before 2020, then don't think twice about the price, just think about how much you want to lock up over that time (and the costs likely to arise if MRO proved to be the wrong vehicle, and you needed to switch horses) and then enter by dollar cost averaging.  It is truly hard to muck it up if you diligently apply dollar cost averaging.  If that is beneath you, you are a trader and have no need of my advice.

I personally currently aim to hold a long-term position of 8 BTC to 1 MRO, as MRO grows, as well as a short term trading position which is 10% of my crypto and fluctuates between MRO and BTC, in addition to my non-crypto investments (mostly swaps and spreads).  My risk tolerance is higher than most.

Excellent, I'll give it a try and report back in the gui thread.

Anonymous transactions are native to the technology.

Does monero's wallet currently support anonymous transactions?  Or is it in development?

Thanks in advance.

I think there probably will be one and it probably will be faster one-on-one compared to a CPU. Whether it will be faster for the same cost (fixed and/or electricity) remains to be seen. This is *much* more memory bound than scrypt, so the GPU/CPU performance ratio should be worse.

thanks