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shortwavesurfer2009

An entity has made an UNSUCCESSFUL ATTEMPT to 51% attack #Monero. You can help by mining with gupaxx on whatever hardware you have and its super easy. Monero cares for your privacy, please step up to defend it in its time of need.

Many state actors especially would love to see the death of Monero, and it would be a serious blow to the average person.

This cannot be allowed.

shortwavesurfer2009 4mo ago 💬 5

The one big upside to this is that if the entity is successful at 51% attacking Monero, they either have to block all transactions or they have to let all transactions through. They can't censor specific transactions since they don't know the receiver, the sender, or the amount.

If they block all transactions, that increases the amount of transactions in the memory pool and increases the likelihood that people will turn on miners to other pools in order to mine those transactions and get those fees. #Monero

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Discussion

Yoshi Yaya 4mo ago 💬 1

Solution: get rid of Random X. Choose a hashing algorithm (just like BTC or LTC) and stick to it. ASICs are not bad.

shortwavesurfer2009 4mo ago

Bitmain has entered the chat.

ASICS cause centralization of mining into ASIC farms where the governmyth is perfectly able to knock on the door and say "do what we say or else..." Not to mention that only a few companies worldwide produce ASICs. Also, since an ASIC only does one thing well, it's very easy to seize at the national borders, just like what happened a couple of months ago, whereas a CPU can be used for anything.

Yoshi Yaya 4mo ago

No, you’ve got it completely backwards.

Keeping mining small scale is what allows malicious entities (bot farms, etc.) attack the network with persistent 51% attacks.

The commodification of ASICs is not only smart, it’s inevitable.

Monero has chosen to remain tiny and niche and never truly challenge the status quo.

ede3d957... 4mo ago

Monero mining is a function of price. Since Monero price has been successfully surpressed for at least 5 years we now have a security budget that is at risk.

The answer is getting rid of CEX that do price suppression at the bidding of the state.

Always withdraw all your coins from CEX (if they let you) and recommend others to do the same.

Yoshi Yaya 4mo ago

LOL, there’s no “price suppression” going on, Monero is just extremely niche.

ede3d957... 4mo ago

There is plenty of evidence. It's something adversarial thinkers in Bitcoin came up with as early as 2010.

It's the fiat endgame attack, where fiat is printed to be lost on CEX, as it is more profitable to burn some useless fiat shit tokens as long as the general public still trusts in it in order to keep a dangerous nascent alternative currency from growing (gaining publicity).

BTC is not a danger to the state. It was in its early days.