So #Monero is being persistently 51% attacked right now by paying miners who merge mine a shitcoin token and reorging all of the blocks produced by the rest of the network. And miners are staying because they are making like 300% what the other miners are making do to the shitcoin. Looks like they’ve had a few 6 block reorgs and it’s still just rolling like this. 🤯😬
Experiments in malicious crypto economics in real time.
https://moneroconsensus.info/?s=09
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You’re confusing Knots with @OCEAN
This is why DATUM and @OCEAN are the most important projects in Bitcoin. Pools who control the blocks are an enormous liability, although this attack isn’t perfectly straightforward due to the shitcoin incentive.
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I didn’t say “Monero is dying.”
Can you point to anything in my post that is at all inaccurate?
👀
Bitcoin is next if node runners don't assert dominance over the network
I dont really see how this would directly relate to knots. This is a consensus level complication for Monero, and knots is just a filtering debate that doesn't affect consensus protocols
My day so far has been split between trying to mine Monero and arguing with people about how hard it is
Witnessing large coordinated psy ops to go with the network attack
Nah, Bitcoin Miners would turn their ASICs into worthless garbage if they attacked the network like this. Monero opened the door for this attack when they went for a ASIC resistant hashing algo.
How do we learn from it, being humble and vigilant? Are there weak points that need strengthening in Bitcoin's decentralization?
any comments from Monero users here?
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What's insufferabke about them?
I ask because I used to feel this way a long time ago, then I began to understand them.
how do they mine this days without ASICS?
CPUs, so a lot of people just mine on their normal PCs, and the attackers can rent data centers
>>> So #Monero is being persistently 51% attacked right now
It's not 51%+ attack...
You don't need 51% of the Network Hashrate to perform a block reorganization.
You only need 35% and to wait for few hours until you get lucky enough to screenshot a 51/100 inside some 1,000 block window.
Nevertheless you don't have a sufficient amount of confirmations inside the "luck" window to perform a double-spend.
Very deceiving to market a block reorg as a successful 51% attack.
Having 51% means you're constantly mining 51/100 out of every 100 blocks window, not once in a blue moon every 1,000 blocks window due to randomization luck.
