While we're laughing at Monero, don't get too complacent.
Discussion
I'm not laughing at monero.
I think more "bitcoiners" should take it seriously.
Monero and litecoin and even doge should be given a little more respect as currencies.
You can spend them. That puts them in the same category as Bitcoin, seperate to all the other "crypto"
And unlike USDT they're not backed by fiat or bonds so they will probably survive the dollar crash that's inevitable.
If anything this attack against monero should be a wake-up call for more people to get involved, monero is the one thing you can't buy on crypto exchanges, it's being suppressed for a reason.
It serves a different purpose to Bitcoin, and the way mining monero works makes it more accessible to people who can't afford to invest in Bitcoin mining
Yes 100% agree. If you're running core and not Knots, you are facilitating the monero-ization of bitcoin.
What happened? 👀
A mining pool claimed to have control over 51% hash rate
Thanks for the news. I rarely think about that shitcoin. Imagine how much bitcoin some people lost chasing it since 2014.
Think of it as an alarm 🚨
The biggest risk in Bitcoin is mining centralization.
If things not getting improved what happened to monero today may happen to us in the future
They don't have 51% of the hashrate, but they do have a worrying amount and can reorg + mine empty blocks when they do get blocks
🤔why am I seeing those 52% screenshots everywhere
It's from Qubics own website so obvious conflict of interest to lie and/or omit details
You can get lucky and get 51 out of 100 blocks with only ~30-40% hashrate if you cherrypick a small window of time.
Keep in mind they purposely stopped reporting their mining pool stats earlier this week (they just started reporting again).
But doesn't matter if they do or dont because we can easily figure out their max possible hashrate by subtracting known pool hashrate from total network hashrate.
The math for 51% doesn't work out when their last 1,000 blocks always averages around 20-25%
I see
Thanks for explaining 🫡