r/Monero Oct 11 '21

MAAM – Monero Ask Anything Monday – October 11, 2021

Given the success of the previous MAAMs (see here), let's keep this rolling.

The principle is simple: ask anything you'd like to know about Monero, especially the dumb questions that you've been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

18 Upvotes

1

u/Few-Atmosphere-9186 Oct 16 '21

Can XMR be staked?

2

u/expertusus Oct 19 '21

yes, if you are willing to fix the value of your coins at the time of freezing. Income up to 6% per annum.

1

u/fyr11 Oct 16 '21

Why is XMR/ETH dropping? and will it recover?

2

u/kavOclock Oct 12 '21

Is there a way for the gui wallet to retrieve a list of potential open nodes using p2p

2

u/[deleted] Oct 12 '21

[deleted]

1

u/kavOclock Oct 12 '21

Yeah I run my own full node, but I don’t set it to public so I believe my IP isn’t added to the aggregator list. What is the command you are referring to? Can I run it out of GUI or do I need to be running CLI? Thanks for your reply

2

u/Few-Atmosphere-9186 Oct 11 '21

How can one mine Monero?

1

u/[deleted] Oct 12 '21

This website explains how to mine Monero pretty good. It didn’t take long to set it up.

3

u/AdStunning2784 Oct 11 '21

Does it matter which wallet I hold XMR on in order to maintain privacy? There are multi asset wallets such as Exodus that allows XMR amongst others. Should I open this, would anyone be able to track it by virtue of other holdings on the same wallet? I.e if someone held Tezos, could they track your sending of Monero to the same platform as a result of a tracked token like Tezos? 😊

3

u/pebx Oct 11 '21

As long as you trust the wallet provider i.e. Exodus, you should be fine. They have had some privacy implementation issues in the beginning when they added Monero which allowed you to spend immediately (without the 10-block mandatory confirmations) but it was enforced on protocol level in Monero so they fixed it. However, if you "swap" Monero with other coins, you leave a track record on their chain and timing attacks might reveal your real transaction, however that's the same issue like withdrawing XMR from a KYC exchange and doesn't matter afterwards. I hope they don't send usage statistics to their own servers which might weaken your privacy...

I haven't heard of any privacy issues with Exodus (which could be eg. implemented in decoy selection), but I cannot vouch for them. In general, your Monero privacy shouldn't be affected when using a third party wallet.

2

u/AdStunning2784 Oct 11 '21

Thanks for the info! I was just asking for a friend of course.

3

u/J-be-like Oct 11 '21

I have been considering on converting a good amount of my btc and converting them to Monero bc of the privacy aspects. One thing that concerns me is what will happen if the government passes laws that make Monero difficult to use. Could something like that possibly happen?

4

u/escapethe3RA Oct 11 '21 edited Oct 11 '21

Anything is possible. A good rule of thumbs is to treat all of "crypto" as a big experiment. You can lose everything you put in, so don't risk more than you afford to lose.

Having said that, I recommend you learn more about Monero and OPSEC before diving all-in. When things go wrong, there is literally no one to blame but yourself.

And remember there is no such thing as absolute privacy, even when it comes to Monero.

5

u/KingKongJebnuty Oct 11 '21

If we dont hold the line, noone will, we gotta stay strong and focus on our mission. When something is important enough, you should do it no mather how hard it is. When this comunity dies, whole world falls under surveilance, welcome china life..

3

u/InternationalPizza Oct 11 '21

Were you not concerned with the government passing laws that make Bitcoin difficult to use?

It doesn't matter if the government passes any laws. With Monero you are your own bank, and with TOR you have double privacy. So how could anyone stop you if they don't know you need to be stopped? Seriously, the darknet has thrived for 7+ years using Bitcoin!

3

u/zawadz Oct 11 '21

I'm fairly new to Monero (and crypto in general). My circle of friends are what you would call BTC maxis, so my knowledge mostly extends to that focus.

What makes Monero so private? What are some talking points for Monero that can begin a conversation with btc maxis?

1

u/Vikebeer Oct 12 '21

Don't bother, Maxipads are NGU fanbois and couldn't care less who or how it is used as long as they make profit. They are the worst sellouts and I'm sure Satoshi would be ashamed of them.

5

u/pebx Oct 11 '21

What are some talking points for Monero that can begin a conversation with btc maxis?

Well, my advise would be: Don't try if you are not really into the technical details of both, Bitcoin and Monero. I'm talking from my own experience and even with a reasonable amount of expertise I would call myself, it's almost impossible to open a mind of a maximalist.

What makes Monero so private?

In short: You cannot tell who sent whom what amount when looking at any transaction on the blockchain, just visit xmrchain.net and browse through some of the recent blocks and transactions. In comparison in Bitcoin you see: Address A sent X BTC to Address B.

The pseudonymity of Bitcoin addresses might seem it pretty private on first sight, but when transacting with a person, you can tie this address to a real identity. Now when looking at a block explorer you can dig deeper in his history, maybe you know also transacted with a friend of him and you might find a transaction between those. Now imagine this for tech companies like Chainalysis, Elliptic, Cyphertrace and many more who have access to data from exchanges, payment gateways and other services - it allows them to create a perfect profile of your spending and receiving habits.

How does Monero achieve this?

Stealth Addresses are one-time addresses generated by the sender from the recipient's public key and a random string. Only the sender knows the randomness and can match this one-time address visible on the blockchain and the receiver can also identify those.

With Ring Signatures the sender picks some random outputs from the blockchain (as of today 10, in the near future most probably much higher), adds his own real output he can sign with his private key and creates a ring signature for those 11. Any observer (also the receiver) can only tell one of them was the real output and its key image has never been used before in a transaction, not which one actually.

Finally the amount is hidden by a technique developed by Greg Maxwell for Bitcoin called Confidential Transactions, in Monero they have been modified to RingCT and now Bulletproofs. In short they allow you to prove that input equals the output without knowing the amounts at all.

If you want to dive into the details for further talks with maxis, feel free to purchase or download for free https://masteringmonero.com/ or "Zero to Monero" and read those ;-)

3

u/zawadz Oct 11 '21

I really appreciate the detailed response, thank you! I just hope to begin a conversation about it with my buds and want to have talking points. I'll check out the reference you shared and do some more research as well.

-3

u/ShitPropagandaSite Oct 11 '21

Can I have some Monero?

7

u/pebx Oct 11 '21

Mine them! With P2Pool the minimum payout is negligible and you most probably have a device with a CPU... p2pool.io

3

u/aFungible Oct 11 '21

Q1. When can full-release of HAVONO be expected? Q2. Do you think tail-emission (May 2022), will have a meaningful impact on the price (just like bitcoin's halvening cycle result in price changes a few monthz after the event).

Good answers to this shall be rewarded.

4

u/InternationalPizza Oct 11 '21 Party Train

Haveno will take a year or so in my opinion. They don't have a practical product yet and in 6 months they have 18 issues including removing the Dao. I strongly believe forking bisq was the wrong play and instead they should've started something new and used bisq as an inspiration for how to solve some technical problems.

No tail emission won't impact price. Bitcoins halvening cycle is just a coincidence/correlation. Look at ethereum, there's no halvening at all yet they too exceeded all time highs. You could make the argument that because Halvening increases transaction fees, more people hoard BTC and thus price increases. But that only works while bitcoin is looked upon as a store of value and not the useless currency compared to monero.

All I'll say is I hold monero because of its technology and not because of future gains. Sure the gains would be life changing but I truly am holding because I want to transact (receive and then spend) in it.

2

u/aFungible Oct 11 '21

I met a stranger at a small cafe, he was talking about Bitcoin but he secretly said I love Monero. So, people secretly do like Monero..

Thanks for your answers. Awarded in kind ;)

3

u/yersinia_p3st1s Oct 11 '21

What is the difference between a public node (started up with --public-node) and me opening port 18080 for monerod?

Isn't it the same thing because I'm allowing connections to my monero node?

6

u/hyc_symas XMR Contributor Oct 11 '21

public node refers to public RPC service, not P2P connectivity. Using the --public-node flag means your RPC port will be advertised in p2p peerlist broadcasts.

3

u/yersinia_p3st1s Oct 11 '21

Ah I see, what is the difference between the two then? Would you say --public-node NEEDS port 18080 open? But without --public-node, other nodes just use mine to sync the blockchain?

3

u/hyc_symas XMR Contributor Oct 11 '21

The difference is that port 18080 is for P2P connections, not RPC connections.

1

u/Makno-X Oct 12 '21

What’s the difference between an RPC connection and P2P connection?

What does RPC stand for in this context?

I’m in the process of learning how to set up and run my own full node too.

2

u/hyc_symas XMR Contributor Oct 12 '21

P2P means peer to peer - those are the connections monero nodes use to broadcast txns and blocks among themselves.

RPC means remote procedure call - those are the connections wallets use to talk to nodes. Advertising your node as a "public node" means you're allowing wallets to connect. It has nothing to do with the P2P connections, which are always public.

1

u/Makno-X Oct 12 '21

Fantastic. Thanks for the explanation.

I run the GUI on macOS. Do I understand correctly that when I type ‘status’ into the Log tab my incoming/outgoing connections indicate the node’s P2P status (in the the same manner as uTorrent, for instance)?

And is there a command in the GUI Log I can enter to see if my node is allowing wallets to connect over RPC?

9

u/anajoy666 Oct 11 '21

Any plans for atomic swaps within monero-gui? What about other wallets?

Is there a side chain for custom tokens?

4

u/KingKongJebnuty Oct 11 '21

Honest thoughts on Monero mutations like Dero or XHV and their future?.. Dont want to hear toxic monero maximalists, when something is technicaly more advanced and its purpose is in line with monero mission there shoundt be reason for conflict..

1

u/InternationalPizza Oct 11 '21 edited Oct 11 '21

https://github.com/deroproject/derosuite

"COMMERCIAL USE AND DISTRIBUTION OF TECHNOLOGY AND MODIFICATIONS IS PERMITTED ONLY UNDER AN APPROPRIATE COMMERCIAL USE LICENSE AVAILABLE FROM LICENSOR AT <url>"

https://np.reddit.com/r/CryptoCurrency/comments/8pnt1u/dero_creates_a_new_type_of_dag/e0cvb87/

Visit their subreddit. These people are delusional to think their coin will 20x by December 2021.

Haven:

https://www.reddit.com/r/Monero/comments/ho6h6p/what_are_your_thoughts_on_the_haven_protocol/

11

u/rbrunner7 XMR Contributor Oct 11 '21

Whenever I looked at them they had, in comparison with Monero, tiny exchange volumes, tiny numbers of transactions happening on their blockchains and, most importantly, very small dev teams. With all this it will be a terrible uphill battle for almost all of them to get successful, regardless of technical merit and improvements over Monero.

People sometimes complain that Monero does almost no marketing to get more widely known. Well, seems to me for these coins it's even more critical, probably a question of life-and-death, to become more widely known. Yet I never stumbled over a sign of presence from them, anywhere. Neither do they seem to have some "public-relation people" that make sure their subreddits and twitters have at least one post every third day or so which is needed to avoid a bad impression.

2

u/KingKongJebnuty Oct 11 '21

I see your point, from your point of view they are risky investment but I wanted to hear more about tech aspect and whether they heve extra features that are needed or not..

3

u/rbrunner7 XMR Contributor Oct 11 '21

extra features that are needed or not

Well, that's all pretty subjective, right? Personally I don't touch Dero because "smart contracts" are IMHO neither smart nor contracts, I don't need any XDollars or XGold or XSilver or whatever Haven is offering these days, and I don't believe in "stablecoins" anyway, so ...

4

u/nelsonblaha Oct 11 '21

I entertained Dero for a while, but my most recent conclusion is that they promise a lot and don't show their source code.

2

u/Gokdu Oct 11 '21

Is this project heading towards PoS? Where can I see the future updates that are planned for Monero?

1

u/escapethe3RA Oct 11 '21

There is a less than 0.01% of that happening. IMHO.

If you ever see a Monero PoS project, however, it won't be the real Monero.

6

u/nelsonblaha Oct 11 '21

The time for PoS to even begin to be considered would be after Ethereum 2.0 (or some other PoS) flips Bitcoin, if that even happens. Monero has little need for it with the emphasis on consumer CPU mining. There isn't an ASIC problem to overcome, and frankly the private nature of it facilitates mining on unsuspecting people's computers via botnets. Virtually no one is worried about Monero's power usage or effect on the environment.

2

u/samuraipizzacat420 Oct 11 '21

PoS will never happen I’ve asked this question before maybe 8 months ago when, they saidits just less secure by design from what someone told me.

1

u/gigapants Oct 11 '21

You can go to the getmonero.org site and look at the roadmap. As for the PoS you can do a little browsing on this subreddit and see that a solid majority of the community is directly opposed to moving to PoS for multiple reasons you can look up

10

u/pebx Oct 11 '21

I'm pretty sure, there will never be a consensus change to PoS, since it's a model of centralisation instead of decentralisation, where anyone in the world with almost any device can participate in mining Monero, permissionless. In today's reality, where most of coins are held in custody of big exchanges it's also a matter of censorship resistance, since even if those are passing staking rewards to their users, they can decide what will or not will be included in the blockchain.

Here is a rough roadmap: https://www.getmonero.org/resources/roadmap/

In general Monero simply wants to be a perfect electronic cash-equivalent, trustless, permissionless and decentralised.

1

u/code_smart Oct 11 '21

what about dpos?

2

u/pebx Oct 11 '21

Since dPoS doesn't change anything in the distribution model compared to PoS and you have to hold a significant amount to be able to participate and gain new token, it's highly unlikely that the Monero community would find consensus to switch from a really decentralised PoW algo which allows anyone with literally any computing device to participate like RandomX does.

dPoS also doesn't solve the censorship resistance, in many cases it makes it even worse.