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Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 3. (Read 4671936 times)

legendary
Activity: 3178
Merit: 1119


Peter Todd says your wrong too:
https://www.youtube.com/watch?v=-Dy4DeVhk_g


He says very little of recovering from the majority hashpower attack.

Lets assume tomorrow XMR suffers from the majority hashpower attack as the result of government control of the four largest pools. The attacker has now 90% of hashpower
and is now mining 90% of blocks (mostly empty blocks, the only transactions included are some whitemarket KYC-ed transactions and the ones of selling for fiat 0.6 xmr of coinbase reward from the tail emission in order to recoup the cost of electricity, the hardware atc.).
The pool of unconfirmed transaction rises with fees incentivizing the black market miners, and they are now able to mine every one in ten blocks. But under the dynamic blocksize rule set they are likely to loose the 0.6xmr of the base reward because their blocks are going to be much larger than the empy blocks mined by the hostile miner.

Let's divide mining into three types:
1. Miners reward = base reward + fees (Bitcoin now)
2. Miners reward = conditional on the blocksize base reward + fees (XMR now)
3. Miners reward comes entirely from fees alone. (Kaspa after 2037 and BTC in the very distant future).

It should be the easiest to recover from the majority hashpower attack in third type. Cases 1. and 2. are more difficult.

P.S. What gives me hope is the culture of XMR and Kaspa when compared with BTC that is conducive to hard-forking upgrades. When under attack
XMR may hard-fork and strip the reward in order to overpower the censor. BTC is very unlikely to do this.  

Oh I see, you are trying to affinity scam Kaspa by lumping it with Monero. Kaspa is a ninja mine scam orchestrated by Genesis Mining and bitmain - 90% of coins emitted in first 18 months, during which time bitmain was testing out their ASICs that they somehow magically had ready to ship 18 months after launch of this nano ripoff with proof of work tacked on. Kaspa is a scam and you're a scammer. Of you want Monero with no tail emission you can use wownero or launch another fork. Or use BTC. Or about at least prob 1000 other projects that are less of a scam than the bitmain Chinese instamine scam you're trying to come into this thread and subtle shill.
member
Activity: 28
Merit: 37
@2Q9acN:

If you think your approach is smarter go ahead and fork Monero, no one is stopping you.

Meanwhile we will continue with tail-emission.
newbie
Activity: 68
Merit: 0


Peter Todd says your wrong too:
https://www.youtube.com/watch?v=-Dy4DeVhk_g


He says very little of recovering from the majority hashpower attack.

Lets assume tomorrow XMR suffers from the majority hashpower attack as the result of government control of the four largest pools. The attacker has now 90% of hashpower
and is now mining 90% of blocks (mostly empty blocks, the only transactions included are some whitemarket KYC-ed transactions and the ones of selling for fiat 0.6 xmr of coinbase reward from the tail emission in order to recoup the cost of electricity, the hardware atc.).
The pool of unconfirmed transaction rises with fees incentivizing the black market miners, and they are now able to mine every one in ten blocks. But under the dynamic blocksize rule set they are likely to loose the 0.6xmr of the base reward because their blocks are going to be much larger than the empy blocks mined by the hostile miner.

Let's divide mining into three types:
1. Miners reward = base reward + fees (Bitcoin now)
2. Miners reward = conditional on the blocksize base reward + fees (XMR now)
3. Miners reward comes entirely from fees alone. (Kaspa after 2037 and BTC in the very distant future).

It should be the easiest to recover from the majority hashpower attack in third type. Cases 1. and 2. are more difficult.

P.S. What gives me hope is the culture of XMR and Kaspa when compared with BTC that is conducive to hard-forking upgrades. When under attack
XMR may hard-fork and strip the reward in order to overpower the censor. BTC is very unlikely to do this.  
legendary
Activity: 3178
Merit: 1119


This is all I need to know about Voskuil.


My argument (or equally Eric's argument with regard to Bitcoin's coinbase reward) is valid. Please show me that I am wrong.  Cheesy


Peter Todd says your wrong too:
https://www.youtube.com/watch?v=-Dy4DeVhk_g
legendary
Activity: 3836
Merit: 4969
Doomed to see the future and unable to prevent it


This is all I need to know about Voskuil.


My argument (or equally Eric's argument with regard to Bitcoin's coinbase reward) is valid. Please show me that I am wrong.  Cheesy


MeGold666 already did, your nothing but a waste of time so welcome to the ignore list.
newbie
Activity: 68
Merit: 0


This is all I need to know about Voskuil.


My argument (or equally Eric's argument with regard to Bitcoin's coinbase reward) is valid. Please show me that I am wrong.  Cheesy
legendary
Activity: 3836
Merit: 4969
Doomed to see the future and unable to prevent it
Tail emission ensures security and what you're saying makes no sense my friend.
The only thing it ensures is the refund of the cost of the majority hashpower attack. Reward for your censor, for your oppressor - that's what it ensures.

Reference:
https://voskuil.org/cryptoeconomics/cryptoeconomics.pdf


This is all I need to know about Voskuil.

Quote
Both BeyondTrust and the employees from DesktopStandard who will now work within Microsoft's Windows Enterprise Management Division will remain in offices in Portsmouth, New Hampshire, Voskuil said. Prior to the acquisition, DesktopStandard had two offices in Portsmouth; Microsoft will take over one, and BeyondTrust will occupy the other.
member
Activity: 28
Merit: 37
The only thing it ensures is the refund of the cost of the majority hashpower attack. Reward for your censor, for your oppressor - that's what it ensures.

Reference:
https://voskuil.org/cryptoeconomics/cryptoeconomics.pdf

You are missing the point by a mile, listen to some ArticMine interviews about scalability.
newbie
Activity: 68
Merit: 0
Tail emission ensures security and what you're saying makes no sense my friend.
The only thing it ensures is the refund of the cost of the majority hashpower attack. Reward for your censor, for your oppressor - that's what it ensures.

Reference:
https://voskuil.org/cryptoeconomics/cryptoeconomics.pdf
member
Activity: 28
Merit: 37
If the US government obtains 70% of hashpower and use it to mine mine empty blocks, effectively censoring
the users of Monero. Would you like to pay the government 0.6 XMR for every block in which you were not able
to transact? I think that the majority of users wouldn't like to pay a dime for censorship.

Emission of new coins should only be the means of permissionless distribution of coins and thus should last for a limited
number of months / years. It is a fallacy to claim that it ensures security.

Tail emission ensures security and what you're saying makes no sense my friend.

Before you continue with your train of thought, please watch this:
https://www.youtube.com/watch?v=sRwSqM0YBto
newbie
Activity: 68
Merit: 0
Tail-emission is one of the best features of Monero, what you're saying is pure nonsense.

If the US government obtains 70% of hashpower and use it to mine mine empty blocks, effectively censoring
the users of Monero. Would you like to pay the government 0.6 XMR for every block in which you were not able
to transact? I think that the majority of users wouldn't like to pay a dime for censorship.

Emission of new coins should only be the means of permissionless distribution of coins and thus should last for a limited
number of months / years. It is a fallacy to claim that it ensures security.
member
Activity: 28
Merit: 37
It is the best choice among existing coins that already have significant adoption. That said, after Monero becomes delisted and perhaps banned in the future by governments, some governments may be interested in co-opting it by mining it in a pool in order to gain majority hashpower. As the emission part of the block reward does not contribute to the censorship resistance, an upgrade that cap / stop the emission of new xmr would make Monero more censorship-resistant and would make dealing with hostile miner attacks easier. Recall the attack on Grin). The developers of the coins like Kaspa or Wownero understand this threat - there is no tail emission of these coins.

Tail-emission is one of the best features of Monero, what you're saying is pure nonsense.
newbie
Activity: 68
Merit: 0
For those who want a high degree of privacy, monero is the best choice but it is not completely anonymous if you use centralized channels, slowly the large exchanges are starting to delist it under pressure from various governments but it still remains a good alternative for those who don't want to show their financial movements

It is the best choice among existing coins that already have significant adoption. That said, after Monero becomes delisted and perhaps banned in the future by governments, some governments may be interested in co-opting it by mining it in a pool in order to gain majority hashpower. As the emission part of the block reward does not contribute to the censorship resistance, an upgrade that cap / stop the emission of new xmr would make Monero more censorship-resistant and would make dealing with hostile miner attacks easier. Recall the attack on Grin). The developers of the coins like Kaspa or Wownero understand this threat - there is no tail emission of these coins.
member
Activity: 224
Merit: 19
For Rent
For those who want a high degree of privacy, monero is the best choice but it is not completely anonymous if you use centralized channels, slowly the large exchanges are starting to delist it under pressure from various governments but it still remains a good alternative for those who don't want to show their financial movements
member
Activity: 28
Merit: 37
What about other EU countries, will XMR still be available on kraken?

It's already gone in Spain, UK, and some other countries.

It's not gone, it's just not listed  Grin

It is still being used at large as it cannot be banned.

In order to actually ban Monero you would need to:

  • Ban all the other coins on CEX that are interchangeable with Monero on DEX, including Bitcoin.
  • Close possibility of making and receiving wire transfers in FIAT banks as there is no way to know if it's not being used to pay for XMR on DEX.
  • Ban physical cash to prevent "cash by mail" payment for XMR on DEX or other P2P exchanges like in person.

And.... Monero would only get stronger because now XMR would be used without exchanging to FIAT (circular economy).
So the only way would be to close the Internet and I'm not that sure about it either as other dark networks would emerge.

Government trying to "regulate" AKA control it, is pathetic  Cheesy
legendary
Activity: 3836
Merit: 4969
Doomed to see the future and unable to prevent it
Monero's price has risen pretty dramatically last few days, what could be the reason, are there any news in development or new exchange listings?

Binance delisting helped us due to them not being able to sell fake coins and stop the Rehypothecation, now if we can only get off Poloniex.

The market has been artificially depressed due to these exchanges creating fake books because Monero cannot be traced.
full member
Activity: 144
Merit: 131
newbie
Activity: 68
Merit: 0
Monero's price has risen pretty dramatically last few days, what could be the reason, are there any news in development or new exchange listings?


This black market exchange seems to be the reason, it launched some weeks ago:
https://github.com/retoaccess1/haveno-reto
https://haveno.exchange/

More info and guides on this blog: https://blog.nihilism.network/servers/anon.html
Mek
jr. member
Activity: 75
Merit: 7
mtc.mekweb.eu - mega transistor clock
Monero's price has risen pretty dramatically last few days, what could be the reason, are there any news in development or new exchange listings?
newbie
Activity: 17
Merit: 1
Excuse me my ignorance. But I must ask this.

Are all transactions on Monero chain private? And if I would send XMR from one cex to another cex, would these two addresses be visible in the transaction hash?

Yeap XMR is an efficient privacy coin. If you don't use a P2P service but a regulated/KYCed CEX; it would be better to buy BTC or LTC (or any coin listed almost everywhere you like) and swap it for XMR via a privacy friendly service (like the one I have in my signature for example or some other DEX). There is no point to buy or use XMR on a plateform which does have your identity. You can use Feather to store XMR outside your CEX if you want, which is an open source electrum-like wallet for XMR.

If you want to learn more about how XMR works:
How does Monero's privacy work?
Introduction to Monero and how it’s different


Thank you all for the replies. I will take look at this eXch exchange.
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