I've been seeing a lot of chatter about Monero lately, especially claims about Qubic potentially doing a 51% attack since they control a big chunk of the mining power. Some say it’s true, others totally shoot it down. Can anyone clarify this? Feels like a serious threat to the network's integrity, real or not.
Just because they can do a 51% attack doesn't mean they will. I've looked into it and yeah, Qubic’s had enough hashrate at times but that data is often unreliable. Think about it, an actual attack would involve them selling Monero and then trying to reverse transactions. That’s pretty risky, especially for a public entity.
I keep an eye on the stats too. Check out their pool data and compare it to Monero's overall stats. The Qubic hashrate was around 28% recently, but it hit over 40% for a bit back in August, not quite sure if it crossed that 50% mark.
Their highest pool hashrate was something like 3.3 GH/s, and Monero's total was about double that. So they were close, but they’re threatening to attack other coins like Doge and Zcash too. Why focus on privacy coins instead of bigger targets?
Could you share a link for Monero’s total hashrate broken down over shorter intervals? I saw their peak at 3.3, but other stats show a lower max. Also, for selfish mining, a sustained 51% isn’t always necessary for damage.
Crazy news, Kraken just paused Monero deposits after all this! Don't get why Qubic would even think about this risky attack... looking at the price, it’s around $268? Seems stable for now, but might drop if more exchanges follow Kraken.
This feels kinda old at this point. Kraken re-enabled deposits but they’re asking for a ton of confirmations. A bit much, but security first I guess. There's a thread on Reddit discussing current exchange statuses.
I saw Qubic claiming to have 51-52% of the hashrate yesterday, but then they couldn’t capitalize on it. They only took a small number of blocks. Probably just a temporary spike.
TRUMP isn’t even a real coin, just a token. So attacking it that way wouldn’t work. And yeah, Dogecoin would be way too expensive to hit like that. Is merged mining the best defense? What are the downsides?
Qubic miners are dreaming if they think they can maintain control over Monero. It’s the biggest privacy currency out there. Props to Kraken for keeping Monero trades open for so long!
Merging mining could bring security from larger networks like Bitcoin to smaller coins. But if the miners aren’t ready for algo changes, that could hurt them too. Transitioning could leave gaps for attacks.
You nailed it. While merged mining might prevent some attacks, it could create new risks. If Qubic shows they can pull something like this, imagine what a government could do. We need to set up some countermeasures, like theymos talked about. No time to waste!