[XMR] Monero Speculation - page 139.

gembitz

hero member

Activity: 1848

Merit: 640

*Brute force will solve any Bitcoin problem*

Quote from: qwizzie on July 20, 2019, 03:53:24 PM

Quote from: smooth on July 20, 2019, 02:32:22 PM

Quote from: qwizzie on July 20, 2019, 01:34:47 PM

Interesting, it made me look up the mentioned bug and i found this article :

https://cointelegraph.com/news/monero-reports-on-resolving-fake-xmr-minting-bugs-a-month-after-fix

Quote

they cannot guarantee no new coins were minted

No new coins were minted. Guaranteed.

Having a closed blockchain like that of Monero + existance of critical bugs for some time + the increased number of Monero mining malware out in the open
makes it difficult for me to accept any ultimate guarantee on this matter.

It is true that these fake minting bugs only affect exchanges, but what is to say hackers did not locate a (smaller) exchange / exchanges already
and were abusing them this way untill Monero patched up these bugs ? Whats to say these exchanges can even identify such problem occurring or having ocurred
on their exchange ?

Also the article mentions 9 security bugs of which 8 have been patched. Does this mean 1 is still open ?

just beacuse its centralized doesnt make it bad just look at libra another millennial "privacy" coin lol Wink

ha

kurious

legendary

Activity: 2604

Merit: 1748

Quote from: qwizzie on July 20, 2019, 03:53:24 PM

Quote from: smooth on July 20, 2019, 02:32:22 PM

Quote from: qwizzie on July 20, 2019, 01:34:47 PM

Interesting, it made me look up the mentioned bug and i found this article :

https://cointelegraph.com/news/monero-reports-on-resolving-fake-xmr-minting-bugs-a-month-after-fix

Quote

they cannot guarantee no new coins were minted

No new coins were minted. Guaranteed.

Having a closed blockchain like that of Monero + existance of critical bugs for some time + the increased number of Monero mining malware out in the open
makes it difficult for me to accept any ultimate guarantee on this matter.

It is true that these fake minting bugs only affect exchanges, but what is to say hackers did not locate a (smaller) exchange / exchanges already
and were abusing them this way untill Monero patched up these bugs ? Whats to say these exchanges can even identify such problem occurring or having ocurred
on their exchange ?

Also the article mentions 9 security bugs of which 8 have been patched. Does this mean 1 is still open ?

Note Darkcoin sig on this one. Don't take it too seriously if it's from the Evan cult. It's just bruised D-heads in the rear view mirror. They will only tempt Icebreaker to fire back, and he will not be as reasonable or nice as smooth.

tokeweed

legendary

Activity: 3976

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Life, Love and Laughter...

Quote from: phishead on July 21, 2019, 10:12:22 AM

Quote from: Andretti83 on July 21, 2019, 09:53:36 AM

Quote from: tokeweed on July 21, 2019, 08:03:08 AM

I think fungibility will be the next big thing in the space starting 2020. Almost everybody hasn't realized it yet. They will and hopefully it isn't too late.

I agree. The more regulation there is, the more exchanges and other services be picky about coins they will or will not accept.

And the more stories peoples hear about declined or "frozen" bitcoins, the more they will start to look what can be done about it. That's where fungibility will chime in and lead most to Monero.

If we would imagine the more and public exposure Bitcoin gets during the bull runs, the US Congressional debates, the regulations governments put on exchanges; while also a huge global economical recession/depression coming up in the near future (1-2 years)... the more people with massive wealth are going to look/get their feet wet with reallocating their assets to Bitcoin & gold, probably.

Only then will it be more public knowledge of the issues of storing wealth in something that is not fungible, because surely there will be a time when one of those people who bought Bitcoin off of someone else (not a central exchange) and put those coins on a centralized exchange, and will be denied for whatever reason due to their level of taint.

... word amongst the elite class travels fast after that I would think.

The more BTC gets to be more adopted by the mainstream, the more the establishment would crave to control it. And the BTC blockchain's transparency won't be any help... That's where XMR comes in.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: Johnny Mnemonic on July 21, 2019, 09:40:27 PM

We already know that Cointelegraph is owned by the Bytecoin/Minergate/Changelly/CoinMarketCap people. Why entertain their drivel?

To be honest, I tend to forget which interest owns which popup faux news sites now, there are just too many. i need a easy to referance chart. That would be a nice thread i would think.
So is there a thread on Bytecoin/Minergate/Changelly/CoinMarketCap connections. i remember Bytecoin/Cointelegraph and Minergate/Bytecoin being connected in a thread somewhere but I didn't know about the others, is this conjecture or do you have some links. Aren't these same russians connected to coinhive.

My memory just keeps getting worse.

Johnny Mnemonic

hero member

Activity: 795

Merit: 514

We already know that Cointelegraph is owned by the Bytecoin/Minergate/Changelly/CoinMarketCap people. Why entertain their drivel?

Febo

legendary

Activity: 2744

Merit: 1288

Quote from: qwizzie on July 20, 2019, 01:34:47 PM

The article on itself is an interesting read and not something i consider specificly a FUD article.

It is when you write something in article and write something else in conclusion and the title. That is FUD for me. Also this is not the first article. They started with it about a month ago. And as I said you cant be sure if authors dont have will and knowledge and just copy/paste them or they deliberately want to curve the truth. My concern is because things are so clear. Everyone that at least few weeks read about Bitcoin could understand what a minting bug is. How can you not understand that. This guy here still mention bug in a wallet even one month after HackerOne bugs were announced and 4 months after it was fixed. If it would be minting bug he would write about it 4 months ago. Minting bug happened to Bitcoin and few millions BTC were printed and they forked it back then. It is also simple that bounty programs are there to find bugs that latter gets fixed and latter on if project is normal, those bugs also gets announced. This two are reasons why I believe a month ago this story was brought out as a FUD. That was a time when Bitcoin made a jump to $13k.

phishead

hero member

Activity: 1877

Merit: 840

Keep what's important, and know who's your friend

Quote from: Andretti83 on July 21, 2019, 09:53:36 AM

Quote from: tokeweed on July 21, 2019, 08:03:08 AM

I think fungibility will be the next big thing in the space starting 2020. Almost everybody hasn't realized it yet. They will and hopefully it isn't too late.

I agree. The more regulation there is, the more exchanges and other services be picky about coins they will or will not accept.

And the more stories peoples hear about declined or "frozen" bitcoins, the more they will start to look what can be done about it. That's where fungibility will chime in and lead most to Monero.

If we would imagine the more and public exposure Bitcoin gets during the bull runs, the US Congressional debates, the regulations governments put on exchanges; while also a huge global economical recession/depression coming up in the near future (1-2 years)... the more people with massive wealth are going to look/get their feet wet with reallocating their assets to Bitcoin & gold, probably.

Only then will it be more public knowledge of the issues of storing wealth in something that is not fungible, because surely there will be a time when one of those people who bought Bitcoin off of someone else (not a central exchange) and put those coins on a centralized exchange, and will be denied for whatever reason due to their level of taint.

... word amongst the elite class travels fast after that I would think.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Not to mention seized gold, oh wait I did.

Andretti83

full member

Activity: 297

Merit: 112

PRIVATE AND NOT PREMINED: MONERO, AEON, KARBO

Quote from: tokeweed on July 21, 2019, 08:03:08 AM

I think fungibility will be the next big thing in the space starting 2020. Almost everybody hasn't realized it yet. They will and hopefully it isn't too late.

I agree. The more regulation there is, the more exchanges and other services be picky about coins they will or will not accept.

And the more stories peoples hear about declined or "frozen" bitcoins, the more they will start to look what can be done about it. That's where fungibility will chime in and lead most to Monero.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

I think fungibility will be the next big thing in the space starting 2020. Almost everybody hasn't realized it yet. They will and hopefully it isn't too late.

joroz

member

Activity: 62

Merit: 14

Quote from: ?? on ??

Quote from: jerry0 on July 21, 2019, 12:08:15 AM

Is monero worth a buy now?

If you believe in future of privacy coins - yes.
McAfee is shilling it for example

Nick Szabo is shilling it too.

Millionero

sr. member

Activity: 807

Merit: 423

Quote from: jerry0 on July 21, 2019, 12:08:15 AM

Is monero worth a buy now?

If you're a beginner investing in crypto, it might be better to not to start with an altcoin.

jerry0

full member

Activity: 1792

Merit: 186

Is monero worth a buy now?

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: qwizzie on July 20, 2019, 03:53:24 PM

Quote from: smooth on July 20, 2019, 02:32:22 PM

Quote from: qwizzie on July 20, 2019, 01:34:47 PM

Interesting, it made me look up the mentioned bug and i found this article :

https://cointelegraph.com/news/monero-reports-on-resolving-fake-xmr-minting-bugs-a-month-after-fix

Quote

they cannot guarantee no new coins were minted

No new coins were minted. Guaranteed.

Having a closed blockchain like that of Monero + existance of critical bugs for some time + the increased number of Monero mining malware out in the open
makes it difficult for me to accept any ultimate guarantee on this matter.

It is true that these fake minting bugs only affect exchanges, but what is to say hackers did not locate a (smaller) exchange / exchanges already
and were abusing them this way untill Monero patched up these bugs ? Whats to say these exchanges can even identify such problem occurring or having ocurred
on their exchange ?

Also the article mentions 9 security bugs of which 8 have been patched. Does this mean 1 is still open ?

The article is a hit piece written so sloppily that i am not even bothering to read it to see what bugs you are mentioning as the lie that new coins can be minted shows right there they are incompetent or scamming fudders. So dyOr if you want to believe whatever that site prints.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: qwizzie on July 20, 2019, 03:53:24 PM

It is true that these fake minting bugs only affect exchanges, but what is to say hackers did not locate a (smaller) exchange / exchanges already
and were abusing them this way untill Monero patched up these bugs ? Whats to say these exchanges can even identify such problem occurring or having ocurred
on their exchange ?

Then the exchange has incurred a normal business risk for running risky semi-experimental software (all cryptocurrencies, including Bitcoin), partially as a result of the bug, and partially as a result of lacking strict controls and audits on their own operations.

But in any case, no new coins were minted as a result of these bugs.

Quote

Also the article mentions 9 security bugs of which 8 have been patched. Does this mean 1 is still open ?

Math would suggest such (although my confidence in the accuracy of cointelegraph 'reporting' is extremely low, for good reasons, so I wouldn't reach any conclusions without a better source). I don't personally know but I would imagine the established process for vulnerability reporting is being carried out.

qwizzie

legendary

Activity: 2548

Merit: 1245

Quote from: smooth on July 20, 2019, 02:32:22 PM

Quote from: qwizzie on July 20, 2019, 01:34:47 PM

Interesting, it made me look up the mentioned bug and i found this article :

https://cointelegraph.com/news/monero-reports-on-resolving-fake-xmr-minting-bugs-a-month-after-fix

Quote

they cannot guarantee no new coins were minted

No new coins were minted. Guaranteed.

Having a closed blockchain like that of Monero + existance of critical bugs for some time + the increased number of Monero mining malware out in the open
makes it difficult for me to accept any ultimate guarantee on this matter.

It is true that these fake minting bugs only affect exchanges, but what is to say hackers did not locate a (smaller) exchange / exchanges already
and were abusing them this way untill Monero patched up these bugs ? Whats to say these exchanges can even identify such problem occurring or having ocurred
on their exchange ?

Also the article mentions 9 security bugs of which 8 have been patched. Does this mean 1 is still open ?

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: qwizzie on July 20, 2019, 01:34:47 PM

Interesting, it made me look up the mentioned bug and i found this article :

https://cointelegraph.com/news/monero-reports-on-resolving-fake-xmr-minting-bugs-a-month-after-fix

Quote

they cannot guarantee no new coins were minted

This part is wrong.

Cointelegraph has been running false anti-Monero propaganda as long as there has been a Monero, although in this case I don't know if the error is deliberate or just careless.

I mean how careless can you be before it becomes more likely to be malicious? If you click through the link on that article and read their other article, you find this from the original researcher who discovered the bug:

Quote

“It is our belief that the vulnerability cannot be used to "mint" real, transactable monero out of thin air.”

No new coins were minted. Guaranteed.

The bug could only be used to fool an exchange into falsely crediting a users account, not to mint coins. Unlike a previous similar bug, this one is not known to have ever been exploited to fool an exchange at all. (The earlier bug was reportedly exploited, but only after a careless exchange failed to upgrade after a fix had already been released.)

qwizzie

legendary

Activity: 2548

Merit: 1245

Interesting, it made me look up the mentioned bug and i found this article :

https://cointelegraph.com/news/monero-reports-on-resolving-fake-xmr-minting-bugs-a-month-after-fix

Quote

“Most of the vulnerabilities were disclosed few months ago, yet were only now fixed. While Monero developers are doing great work,
they cannot guarantee no new coins were minted by deceiving an exchange. If such an attack would occur, it might've taken a long time until
the exchange would've noticed it, unless their security mechanisms are advanced enough to scan its cold wallet storage and compare it with
account deposits very quickly.”

The article on itself is an interesting read and not something i consider specificly a FUD article.

elrippos friend

full member

Activity: 1179

Merit: 210

only hodl what you understand and love!

Quote from: Hueristic on July 19, 2019, 09:07:05 PM

Quote from: Febo on July 19, 2019, 01:35:11 PM

We have more and more articles posting about that wallet bug, that was found by HackerOne as part of a our bug bounty program, from half year ago to be a minting bug. Not sure if that is a deliberate FUD or just. It is funny how you make something super good with community founded bounty rewards and it can be still presented bad at the end.

Yeah, looks like a FUd campaign going on atm.

"if you are attacked, you are dangerous" --> best compliment for Monero Grin

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: Febo on July 19, 2019, 01:35:11 PM

We have more and more articles posting about that wallet bug, that was found by HackerOne as part of a our bug bounty program, from half year ago to be a minting bug. Not sure if that is a deliberate FUD or just. It is funny how you make something super good with community founded bounty rewards and it can be still presented bad at the end.

Yeah, looks like a FUd campaign going on atm.

Topic: [XMR] Monero Speculation - page 139. (Read 3314669 times)