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81

It is the only private cryptocurrency in use today which is truly fungible as all transactions are private and created equal. It satisfies the 3 important properties of electronic cash: decentralized, private, digital. These are the major features that distinguish it from all the rest, on a protocol level: Nobody inspecting the blockchain can tell from ...


10

Advantages of CryptoNote coins Common to all Bytecoin derived coins Monero transactions are untraceable and un-linkable by default. Meaning that there is ambiguity of where the monero came from and the destination address (or account in Monero lingo) is unknown. There is the option of providing the viewkey, which allows someone to check for incoming ...


8

Seems like there could be a neat novel way to do it, according to MimbleWimble mailing list post by A. Poelstra. Note that the s' values need to be re-communicated every time the transaction changes (as does the nonce). Because it depends on the other party's nonce, this might require an additional round of interaction per channel update. Note also ...


7

The disconnected architecture that Monero employs allows you to host the daemon and wallet separately. My own opinion is that this is an improvement over the bundled design of Bitcoin-QT. If you connect your wallet to a remote daemon, or don't host your own node, there are security and performance implications. If you run the daemon locally, there's a ...


6

If "someone" doesn't have access to any of the services, there's no way he can tell that the final TX is connected to you. If "someone" had access to only ShapeShift data, he'd know to which Monero address you withdrew, and how much. He could suspect when you move those funds elsewhere but never be sure if it was you or it just so happened that someone else ...


6

To add to expez's answer, BitPay should already stop the 15 minute countdown once it's found the broadcasted Bitcoin transaction. To my knowledge some services that use BitPay require confirmation(s) but it shouldn't be an issue as the invoice shouldn't expire after the tx has been broadcast (but not yet confirmed).


5

The frontend has been updated recently and does not redirect to the no-javascript version automatically if you have javascript disabled. This is clearly a mistake and should be fixed soon. For the time being you can access explicitly the no-javascript version at https://xmr.to/nojs Note that if you access it on its onion address at http://xmrto2bturnore26....


5

IIRC xmr.to scans the memory pool, so they can send the transaction ASAP, without waiting for a block to be mined, so they're not going to be the bottleneck here. That being said, remember that blocktimes such as 10 mins are target values. The time to mine any specific block is random. Sometimes it takes 20 minutes to mine a Bitcoin block, sometimes it ...


3

When you send BTC to shapeshift, shapeshift can see your Bitcoin wallet address. If shapeshift were to get hacked, and if shapeshift keeps records, then this means the XMR outputs that shapeshift sends to you can be tied to your Bitcoin wallet address and therefore to your real world identity. However, this does not matter. As soon as you send the outputs ...


3

The question to ask isn't 'Can this be done?' but rather 'Is this something we can benefit from?'. Since you did ask explicitly if it was possible, I'll address that first: Yes, it's absolutely possible for Monero to adopt this proposed PoW algorithm. The PoW algorithm is orthogonal to the issue of privacy, as long as the PoW algorithm chosen isn't one ...


3

As others have stated, having a separate blockchain daemon and wallet application is a strategic design decision. Here's a comment from Wladimir J. van der Laan, Bitcoin Core Maintainer: To name an example of it done right, IMO: Monero's 'simplewallet'. It is a command-line utility wallet that communicates with the node software, and remembers where ...


2

Having a node/wallet system adds some small measure of risk, while removing a high measure of risk. On balance, the separated system is more secure than a monolithic system. If you consider the separated approach, there are three points that can be attacked: the node, the wallet, and the link between the two. If the node is compromised, then it doesn't ...


2

If your system is compromised and you have malware on it, your funds can always be stolen. No matter if you have one application or several, your private keys are always stored on your hard drive and a malware can have access to it and all your keyboard inputs. So if you want to hold significant amounts of Monero, move them to a cold wallet and hold only ...


2

Monero's initial sync of a full node takes up to few days depending on your internet connectivity and also your hardware, which has to verify all synced blocks. When you loose your internet connection, close your wallet, switch off your device, for obvious reasons your wallet will not be syncing new blocks. But after you start it again, it will resume ...


2

Due to fees it would never be the exact same amount, but in theory it could arise suspicion. Also, nothing stopping you from splitting the amount into multiple transfers at exit.


2

XMR.to has slightly lower exchange rates (usally around 1%) than the big exchanges, but even for small payments they cover all Bitcoin onchain transaction fees and their transactions usually will be included in the next Bitcoin block so they have a pretty good fee estimator and/or are well connected with Bitcoin miners. When creating a new payment on xmr.to ...


2

Check out this guide to understand how it all works. BTW: Not only has the computer to be turned on, but the trader also has to be online


1

When using Tails (so Tor for your internet traffic) it is "safer", from an IP tracking perspective, than using clearnet. From an IP tracking perspective there is really no difference in safety between using an SPV wallet such as Electrum or the Monero wallets with a remote node, they both work in a similar fashion and what you are doing by using Tails (so ...


1

This did not happen. The FBI confiscated the BTC and later sold it to Tim Draper. Here is the source: https://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner


1

There are no contributors of my knowledge in both Bitcoin and Monero. However Monero has adopted many ideas from Bitcoin which have never been implemented there mostly due to politics around (hard) forks. Confidential Transactions (CT) have been extended and adopted by Monero as RingCT and also the initial idea of Stealth Addresses has been adopted from a ...


1

Yes, the same idea applies to Monero, as it uses a very similar network system.


1

Ledger will likely be the first. They seem to have set up most of under-the-hood stuff, and now it's polishing, review and testing I suppose. Anyways, they're kind enough to give regular updates on Reddit as to how it's going - last of those can be found here. Coinomi may be the second one to add support. There's no ETA or progress updates. Back in July (...


1

Patients, hold on to your horses... I wish I could have my cake and eat it to. Until Monero hard forks, occurring roughly semiannually, slow down or until very strong software interfaces exist few wallet vendors have the resources to adequately support Monero. Monero is pushing the envelope for privacy services and everything must be coded from the ground ...


1

No. Well, kind of. There will be a "change output" but it's not your address. In fact, Monero address works as an instruction to create many unique one-time public keys which actually holds the funds. Your wallet address never appears on the blockchain. Each of those unique one-time public keys has a corresponding unique private key (which you can recover ...


1

Disclaimer: I am not a security or coding expert. Basically, you're asking whether a client-server application is intrinsically less secure than a monolithic application? If that were the case, I guess the client-server paradigm would be as widespread (with 3-tier applications being a variant of that). I think it is even so that, a clear separation between ...


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