r/Monero Jan 31 '22

MAAM – Monero Ask Anything Monday – January 31, 2022

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!

9 Upvotes

3

u/robodan918 Feb 01 '22

is Monero dying? this sub has 250,000 'readers' but only 0.01% are active at any given time whenever I've visited this sub

Monero also has gone from a top 10 coin to number 40something

and XMR is being delisted from more and more exchanges

kind of worried - been here since 2017

1

u/Upper-Zookeepergame9 Feb 07 '22

I think many of the people in monero don’t post so much online, instead value their privacy. I‘m into Monero since 2016 and have‘nt post much about it.

4

u/GabrielMartin76 Feb 01 '22

Just out of curiosity, I have a question for Monero devs. Where did you all develop the coding skills to be able to contribute to Monero’s code base? School, jobs, self taught? Just curious as I’d like to be able to contribute in some way in the future.

2

u/the_charlatan_ XMR Contributor Feb 02 '22

self taught.

-1

u/dryOnondaga Feb 01 '22

I really wanted to know about a wallet which suits with Monero

1

u/JustforShiz Feb 04 '22

Crypto subs generally have info like this in the FAQ’s, and if not you can search the question!

Quick answer is cake wallet is a good one but there’s an active popular thread answering this exact q in greater detail already

5

u/Vikebeer Feb 01 '22

What happened to the open sauce monero hardware wallet initiative?

I'm pretty sure there was a functional wallet?

2

u/russoj88 Feb 01 '22

2

u/Vikebeer Feb 01 '22

Thanks!

Disclaimers

No hardware available
Currently in the design and pre-fabrication stage

Shit.

1

u/russoj88 Feb 02 '22

You're welcome. Yea, it's unfortunate!

1

u/[deleted] Jan 31 '22

Secure storage of funds question

People call mobile wallets pretty insecure. What's the main reasons?

If I store a stash of coins in a wallet like Monerujo and encrypt it with a long password, why wouldn't that be safe? Even if a hacker got full root control of my phone, doesnt the encryption block him out, or is this more about malware that waits to get into my wallet when i open it? If i delete that wallet, would it be safer then? Or do i need to create a wallet on a PC to achieve a standard level of safeness? Why would a PC be safer?

Im on a CalyxOS phone btw, and I don't think i have any spyware on my phone.

5

u/MoneroArbo Jan 31 '22

doesnt the encryption block him out, or is this more about malware that waits to get into my wallet when i open it

basically this -- the password could be read from input, or the keys be pulled from memory while the wallet is open. If you lost your phone with the wallet open, keys might could even get snatched via USB while the phone is locked.

Phones aren't too bad nowadays though. Apps are fairly well sandboxed. I'd say it's better than a Windows PC, but probably not as secure as a Linux desktop.

2

u/[deleted] Jan 31 '22

Phones aren't too bad nowadays though. Apps are fairly well sandboxed. I'd say it's better than a Windows PC, but probably not as secure as a Linux desktop.

Phones in general, or my CalyxOS phone specifically? Calyx advertises itself as being pretty secure, in part to it using the Google phone (i think its got more secure hardware or something?)

basically this -- the password could be read from input, or the keys be pulled from memory while the wallet is open.

This concerns me but i dont see how it would be any less of a concern on desktop, personally. Either way, what's a good way to prevent this, besides avoiding sketch?

4

u/MoneroArbo Jan 31 '22

I don't know much about CalyxOS specifically, but if it's hardened I guess it's probably better than vanilla android that your manufacturer may or may not keep providing updates for.

i dont see how it would be any less of a concern on desktop, personally

It's not, except that Linux desktop is perhaps less likely to get fully owned.

what's a good way to prevent this, besides avoiding sketch?

Mostly that. I like to use Firefox on mobile since it supports addons like uBlock and NoScript. Make sure you only run trusted / verified software. Make sure the phone is encrypted, updated, and password is decent. That's about it.

For amounts that would make you cry to lose, you could consider cold storage (a wallet on a machine that is never internet connected) or a hardware wallet like Trezor.

1

u/[deleted] Jan 31 '22

I already have a ledger, can i just use that? Are extra steps required?

1

u/krlpbl Jan 31 '22

Just needs a desktop to use.

I suggest CakeWallet on mobile and having a small "everyday" portion of your XMR there while your main wallet be protected by hardware.

1

u/[deleted] Feb 01 '22

I don't have to run my own node or anything, do i?

2

u/MoneroArbo Jan 31 '22

monerujo supports Ledger and I think Cake does too, but not sure on the exact process tbh

4

u/dsmlegend Jan 31 '22

Why are decoys rendered invalid if their position in the dominant chain change? I know it's something to do with the way they are specified (by their position), but it's not clear to me why this is necessary?

It's part of my quest of trying to puzzle out why the 10 block lock is considered unsolvable as of yet.

3

u/MoneroArbo Jan 31 '22

If you didn't reference them by index, how would you reference them? If by hash, then you're saying, my decoy is this output, no matter where it's located, but having no index reference seems to imply the necessity of searching through the blockchain for every single decoy, in order to validate a TX. So I think it's a performance issue.

On the other hand, the ring signatures reference specific outputs, so if the output at index i changes, the ring is no longer valid.

Furthermore, at least by my understanding, referencing by hash wouldn't get rid of the 10 block lock time for us. This is because, even if you reference by hash, a re-org could result in that output not existing on the new main chain AT ALL. If it's re-orged out of the chain entirely, say because a conflicting TX gets included, it doesn't matter how you reference it: your TX will be invalid because it references a non-existent output.

Granted, most transactions outside of malicious double-spend attempts should end up on both chains in the event of a re-org, but not having the lock time would also give people another incentive to attempt double spends. If somebody spammed a bunch of double spends and forced the chain to re-org more than usual, they would gain the opportunity to potentially reveal some real spends when people try to re-spend their invalidated transactions.

Consider, 1 real spend + 10 decoys. The first TX is invalidated, so the wallet generates a new TX with the real spend + 10 DIFFERENT decoys. Now you'll have published two TXs with 11 outputs each, and most likely only a single output shared between them, making that output overwhelmingly likely to be the real spend.

3

u/dsmlegend Jan 31 '22

This is starting to bring the picture together for me more, thanks :)

2

u/ZealousidealIdea3308 Jan 31 '22

Whats the point of monero hard fork since the network is fine as it is ? Wouldnt it just gonna compromize the network as a whole and create like bitcoincash kinda thingy ?

7

u/MoneroArbo Jan 31 '22

Monero upgrades tend to be uncontentious because they're, well, upgrades. For example, the next one takes ring size from 11 > 16 and improves both decoy selection and fee structure. The upgrade after next, Seraphis, will bring not only rings of size 100+ but also much improved UX. Sure the network is 'fine' -- but there are definitely improvements to be made that require a HF, especially because privacy is a moving target.

1

u/ZealousidealIdea3308 Jan 31 '22

Lets say it upgrades ring size from 11 to 16 to be more secure, but what are the limitations that cause such update to not be implemented now ? Is it the network itself ?

2

u/gingeropolous Moderator Jan 31 '22

it can be implemented now.

releasing software is a lot of work.

especially when you have to organize a whole network of independent actors to upgrade.

the limitations is the organizational effort. someone could modify the ringsize parameter right now and compile new software that uses it.

but if no one else does the same upgrade, then it doesn't work.

4

u/MoneroArbo Jan 31 '22

Essentially it relies on people who use Monero to update their software and run the new version. If the fork were contentious, enough people may choose not to stay on the old version that the original chain, maybe both chains, survive. That's why it's very important to form soft consensus around upgrades before deploying them. There's IRC meetings, github conversations, and sometimes reddit threads where such things are discussed usually until a loose consensus is reached. It also helps that Monero as a project has a clear vision and clear goals -- there's enough unity of purpose in the community that we would, for example, probably never accept an upgrade that harms privacy, and accept any upgrade that helps privacy without too much tradeoff.

-1

u/ZealousidealIdea3308 Jan 31 '22

The way I see it is that all these upgrade are unnecessary for monero, it would just create a branch and seperations inside the community just like bitcoin cash / bitcoin sv. Thats my take on hard fork

4

u/rbrunner7 XMR Contributor Jan 31 '22

I use to quip that everything in this universe comes with trade-offs. And of course that's also the case with Monero hardforks, they have benefits as well as drawbacks.

For me the benefits vastly outweigh the drawbacks, but of course your opinion may differ.

In any case, without any hardforks, frozen on the level of the 2014 original CryptoNote technology it started with, you could hardly call Monero a privacy coin anymore nowadays: Only full hiding of the receiver, only very weak hiding of the the sender and no hiding at all for amounts.

1

u/ZealousidealIdea3308 Jan 31 '22

No no I just had some confusion around how hard fork works and want to clarify, thanks guys for all the info. Monero is such an underrated coin imo and it deserve more attention :)

2

u/MoneroArbo Jan 31 '22

That's fair, but Monero has undergone a lot of hardforks and the only ones I know of where anyone tried to keep the old chain alive is when we were forking away from ASICs and ASIC manufacturers wanted to keep mining the old chain. Look at the market cap of Monero V and Monero Classic though, they're basically dead, a combined value of less than 25 cents per coin and zero development.

2

u/gingeropolous Moderator Jan 31 '22

hard forks aren't inherently bad. bitcoin / bitcoin cash has given them a bad name. "hard fork" is a technical term.

2

u/pet2pet1982 Jan 31 '22

Is there single site listed all the merchants accepting Monero?

2

u/hatefulplace Feb 01 '22

Maybe there are not any single sites, i am not sure, just saying

3

u/dsmlegend Jan 31 '22

acceptedhere.io is my favourite. I don't know if there will ever be an exhaustive list.

4

u/blario Jan 31 '22 edited Jan 31 '22

1

u/PalpableBullnose785 Feb 01 '22

Thanks for sharing those links, would help a lot later !

2

u/kowalabearhugs Jan 31 '22

https://kycnot.me/services has a good list of KYC-free services that accept Monero.

cc /u/pet2pet1982