I think fungible is really a specialist term that doesn't work so well talking to people more widely than the cryptocurrency or economics worlds. Just my opinion on it.
Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 647. (Read 4671910 times)
Has there been discussion on adding "fungible" as a fourth pillar of Monero (secure, private, untraceable, fungible)? True fungibility is a valuable property of Monero that BTC lacks. For those of us who have been with Monero for a long time, this is not news to you, but Monero is attracting more attention and I think it would benefit from showcasing its fungibility property and why it's so important/valuable (no coins can be blacklisted, blocked, etc.).
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
Good idea, I see untraceable is a property of fungibility and it is becoming more mainstream as the masses start to comprehend the differences of various coins. There are no other coins that are 100% fungible besides cryptonote. Therefore I would vote to replace rather than add.
I see your point. In keeping with the 3 pillars, I added the bold green text to the text of the 3 pillars. The text comes from the Monero home page https://getmonero.org/home . What do you think? (Just so everyone knows, I'm not a XMR dev, just a fan/user sharing some of my thoughts).
SECURE
Using the power of a distributed, fully decentralized, peer-to-peer consensus network, every transaction is cryptographically secured. Individual accounts have a 25 word mnemonic seed displayed when created, which can be written down to back up the account. Account files are encrypted with a passphrase to ensure they are worthless if stolen.
PRIVATE
Monero uses a cryptographically sound system that allows you to send and receive funds without your transactions being publicly visible on the blockchain (the distributed ledger of transactions). This ensures that your purchases, receipts, and other transfers remain private by default. [nothing added]
UNTRACEABLE
By taking advantage of ring signatures, a special property of certain types of cryptography, Monero enables untraceable transactions. This means it's ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to particular user. Monero is also completely fungible, and this means that coins can't be blacklisted or blocked.
How about something like this. Although It's starting to break down the pillars as private is really a subset. Looks like it does need an update but someone with better knowledge should probably flesh out points and then we could work on the wording?
SECURE
Using the power of a distributed fully decentralized peer-to-peer consensus network in which every transaction is cryptographically secured. Individual accounts have a 25 word mnemonic seed displayed when created, which can be written down to back up the account. Account files are encrypted with a passphrase to ensure they are worthless if stolen. could use a rewrite as well
FUNGIBLE
By taking advantage of ring signatures, a cryptographic method, Monero is 100% Fungible. This means the coins are mutually interchangeable and therefore impossible to determine which funds have been spent on what, and thus extremely unlikely that a transaction could be linked to a particular user. Untraceability is also a byproduct of fungibility, which also means that Monero coins cannot be blacklisted and/or blocked.]
PRIVATE
Another byproduct of fungibility from the use of ring signatures is Monero allows you to send and receive funds without your transactions being publicly visible on the blockchain (the distributed ledger of transactions) unless you provide a veiw key for them to access that information. This ensures that your purchases, receipts, and other transfers remain private by default but can be proven if you so wish.
Has there been discussion on adding "fungible" as a fourth pillar of Monero (secure, private, untraceable, fungible)? True fungibility is a valuable property of Monero that BTC lacks. For those of us who have been with Monero for a long time, this is not news to you, but Monero is attracting more attention and I think it would benefit from showcasing its fungibility property and why it's so important/valuable (no coins can be blacklisted, blocked, etc.).
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
Good idea, I see untraceable is a property of fungibility and it is becoming more mainstream as the masses start to comprehend the differences of various coins. There are no other coins that are 100% fungible besides cryptonote. Therefore I would vote to replace rather than add.
I see your point. In keeping with the 3 pillars, I added the bold green text to the text of the 3 pillars. The text comes from the Monero home page https://getmonero.org/home . What do you think? (Just so everyone knows, I'm not a XMR dev, just a fan/user sharing some of my thoughts).
SECURE
Using the power of a distributed, fully decentralized, peer-to-peer consensus network, every transaction is cryptographically secured. Individual accounts have a 25 word mnemonic seed displayed when created, which can be written down to back up the account. Account files are encrypted with a passphrase to ensure they are worthless if stolen.
PRIVATE
Monero uses a cryptographically sound system that allows you to send and receive funds without your transactions being publicly visible on the blockchain (the distributed ledger of transactions). This ensures that your purchases, receipts, and other transfers remain private by default. [nothing added]
UNTRACEABLE
By taking advantage of ring signatures, a special property of certain types of cryptography, Monero enables untraceable transactions. This means it's ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to particular user. Monero is also completely fungible, and this means that coins can't be blacklisted or blocked.
It isn't quite one click atm, you have to put it in a folder with your own simplewallet binary, so at least several clicks.
But I guess someone could package them together to make it 1-click. I can do it for windows and host it on the nodebox.link site, but thats ultimately moot because peeps will be all "its not official so its gonna eat my chocolate" , which is understandable.
I have some quick notes up for the dev meeting today..
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
I love to learn and will try to observe some dev IRC meetings in the future when I have more time. Thanks for the summary.
I have some quick notes up for the dev meeting today..
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
I have seen a lot of new XMR related websites launch recently. The currency is becoming more decentralized.
Nice coverage of Monero News.
Also interesting that pie is preferred over cake by about 2 to 1
Secuntraceable Privungible !
edit, just read this. Aminorex and me are similar minded
edit, just read this. Aminorex and me are similar minded
Untrinklacable prifungibilacy. It's got rhythm.
Well it would be nice if the team or somebody else can develop an user friendly 1 click wallet right? Would also gain more people and attention...
There is also a simple web wallet I see, is it safe option as well?
There is also a simple web wallet I see, is it safe option as well?
It's from fluffypony, who is a core-team member, thus considered safe as in trustworthy. However, one should always be cautious with using webwallets.
More specifically there have been successful thefts. Fluffypony explicitly recommends not storing too large an amount there, and instead using it for convenient access to smaller amounts.
Is there a thread or such detailing that?
This one for example: https://www.reddit.com/r/Monero/comments/491gbj/i_lost_some_monero_that_i_had_on_mymonerocom/d0ocdpm
But like fluffypony explains in the comments, it is not the webwallet itself but all the (potentially weak) links between (and including) the users computer and the server (the ISP, the VPN provider, TOR exit nodes, CloudFlare, etc). So only use it for pocket change, like your 'real' wallet.
+992983741982371023
I'm in the process of making that a little more clear on the wallet creation page, since I fear for people using it as a form of cold storage. Every time they login they risk their funds getting swiped:/
OK after reading this I'm moving what I have. I tried last week while you were at the conference but was getting a multitude of server errors. Did you receive my PM and read my post? Until you verify the site is fixed It would be foolish for me to try to withdraw.
Has there been discussion on adding "fungible" as a fourth pillar of Monero (secure, private, untraceable, fungible)? True fungibility is a valuable property of Monero that BTC lacks. For those of us who have been with Monero for a long time, this is not news to you, but Monero is attracting more attention and I think it would benefit from showcasing its fungibility property and why it's so important/valuable (no coins can be blacklisted, blocked, etc.).
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
Good idea, I see untraceable is a property of fungibility and it is becoming more mainstream as the masses start to comprehend the differences of various coins. There are no other coins that are 100% fungible besides cryptonote. Therefore I would vote to replace rather than add.
I have some quick notes up for the dev meeting today..
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
I have seen a lot of new XMR related websites launch recently. The currency is becoming more decentralized.
Twistelaar, there is an easy "1 click" GUI in progress.
https://forum.getmonero.org/9/work-in-progress/2476/the-official-qt-gui-project
https://github.com/mbg033?tab=activity
https://forum.getmonero.org/9/work-in-progress/2476/the-official-qt-gui-project
https://github.com/mbg033?tab=activity
ah nice to see! when will this be ready to use?
Well it would be nice if the team or somebody else can develop an user friendly 1 click wallet right? Would also gain more people and attention...
There is also a simple web wallet I see, is it safe option as well?
There is also a simple web wallet I see, is it safe option as well?
It's from fluffypony, who is a core-team member, thus considered safe as in trustworthy. However, one should always be cautious with using webwallets.
More specifically there have been successful thefts. Fluffypony explicitly recommends not storing too large an amount there, and instead using it for convenient access to smaller amounts.
Is there a thread or such detailing that?
This one for example: https://www.reddit.com/r/Monero/comments/491gbj/i_lost_some_monero_that_i_had_on_mymonerocom/d0ocdpm
But like fluffypony explains in the comments, it is not the webwallet itself but all the (potentially weak) links between (and including) the users computer and the server (the ISP, the VPN provider, TOR exit nodes, CloudFlare, etc). So only use it for pocket change, like your 'real' wallet.
+992983741982371023
I'm in the process of making that a little more clear on the wallet creation page, since I fear for people using it as a form of cold storage. Every time they login they risk their funds getting swiped:/
Well it would be nice if the team or somebody else can develop an user friendly 1 click wallet right? Would also gain more people and attention...
There is also a simple web wallet I see, is it safe option as well?
There is also a simple web wallet I see, is it safe option as well?
It's from fluffypony, who is a core-team member, thus considered safe as in trustworthy. However, one should always be cautious with using webwallets.
More specifically there have been successful thefts. Fluffypony explicitly recommends not storing too large an amount there, and instead using it for convenient access to smaller amounts.
Is there a thread or such detailing that?
This one for example: https://www.reddit.com/r/Monero/comments/491gbj/i_lost_some_monero_that_i_had_on_mymonerocom/d0ocdpm
But like fluffypony explains in the comments, it is not the webwallet itself but all the (potentially weak) links between (and including) the users computer and the server (the ISP, the VPN provider, TOR exit nodes, CloudFlare, etc). So only use it for pocket change, like your 'real' wallet.
Well it would be nice if the team or somebody else can develop an user friendly 1 click wallet right? Would also gain more people and attention...
There is also a simple web wallet I see, is it safe option as well?
There is also a simple web wallet I see, is it safe option as well?
It's from fluffypony, who is a core-team member, thus considered safe as in trustworthy. However, one should always be cautious with using webwallets.
More specifically there have been successful thefts. Fluffypony explicitly recommends not storing too large an amount there, and instead using it for convenient access to smaller amounts.
Is there a thread or such detailing that?
https://www.reddit.com/r/Monero/comments/491gbj/i_lost_some_monero_that_i_had_on_mymonerocom/
Well it would be nice if the team or somebody else can develop an user friendly 1 click wallet right? Would also gain more people and attention...
There is also a simple web wallet I see, is it safe option as well?
There is also a simple web wallet I see, is it safe option as well?
It's from fluffypony, who is a core-team member, thus considered safe as in trustworthy. However, one should always be cautious with using webwallets.
More specifically there have been successful thefts. Fluffypony explicitly recommends not storing too large an amount there, and instead using it for convenient access to smaller amounts.
Is there a thread or such detailing that?
Well it would be nice if the team or somebody else can develop an user friendly 1 click wallet right? Would also gain more people and attention...
There is also a simple web wallet I see, is it safe option as well?
There is also a simple web wallet I see, is it safe option as well?
It's from fluffypony, who is a core-team member, thus considered safe as in trustworthy. However, one should always be cautious with using webwallets.
More specifically there have been successful thefts. Fluffypony explicitly recommends not storing too large an amount there, and instead using it for convenient access to smaller amounts.
Untrinklacable prifungibilacy. It's got rhythm.
I have some quick notes up for the dev meeting today..
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
I think because of this news is megapump on polo.
I have some quick notes up for the dev meeting today..
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
https://hellomonero.com/article/monero-weekly-dev-meeting-notes-2016-03-05
Good stuff.
Has there been discussion on adding "fungible" as a fourth pillar of Monero (secure, private, untraceable, fungible)? True fungibility is a valuable property of Monero that BTC lacks. For those of us who have been with Monero for a long time, this is not news to you, but Monero is attracting more attention and I think it would benefit from showcasing its fungibility property and why it's so important/valuable (no coins can be blacklisted, blocked, etc.).
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
I think it's a key property that many don't know about, and they don't know about it because it's not showcased like the other properties/pillars. I think it would only benefit XMR to showcase this property. Has this topic been discussed?
I think it was luigi1111 (edit: apparently it was Adam Back in February 2014) mentioning that privacy is a side effect of fungibility. So basically it is already there.
But more I wonder how many people outside the cryptocurrency world know or understand what fungibility is, so how much it would really add. People (at least some) care for privacy.
Jump to: