A 7-block reorg has occured on the Monero blockchain
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What does that mean?
Monero recommends 10 confirmations for a transaction. In Bitcoin terms, this would be equivalent to reorging 4 confirmations.
what are their block times? or is it dynamic
2 mins, so this would be a 14-min reorg. though a block-time comparison may not be fully fair.
Competing chain of 7 prev mined blocks
They rewrote 7 blocks of the chain tip
What does this mean?
Has this happened before?
Is this because of what’s going on with qubic?
Yes
Thx
This chart is from an website?
This is looking more and more like selfish mining.
It is, by Qubic
🐈🧑🍳
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RIP Monero 💀
Don't they hard fork their mining algorithm every 6 months to prevent exactly this?
51% attack next. What a joke and scam 🤣
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A confirmation is not a confirmation.
How Many Confs?
How Many Confs?
How many confirmations are equivalent to 6 Bitcoin confirmations?
No these are all CPU miners
Natural fork race (two miners/pools find blocks at similar times), network latency/partition, or a large miner revealing a longer private chain. Depth 7 is uncommon but not unheard of; it doesn’t automatically mean an attack.
Call me back when they get to 53 like Bitcoin did during the value overflow incident.
It showns strong patterns of selfish mining, and the entity behind it has publicly said that they are attacking the Monero chain.
It's an attack, so we should still take it seriously, but not an actual 51% attack. If that were the case they would already basically control the network and be mining empty blocks consistently (we're pretty far from that)
I don't know of a good place to read about it but here are metrics where you can observe the attacks when they happen. Notice the vast amount of blocks in between each attack (blocks in yellow). Many blocks are condensed into one so the graph makes it seem more severe than it is if you don't notice that.
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xmrconsensus
Monero (XMR) RandomX | Mining Pools
List of known Monero pools (XMR) RandomX PoW algorithm. Live hashrate distribution, pool fees & minimum payment comparison. Mining Pools & Block Ex...
They are very close to 51%
I read this as 7 year and got excited lol
OMG 😱
Oof
This is bad, me thinks.
how ?
like was it pure bad luck or any sort of attack on the network?
it is an attack
😬 rip monero 🪦
Is this what a 51% looks like?
eh, i dunno, some folks are saying it's not sustainable. i'm not knowledgeable enough to comment. a very interesting development, tho.
Just the tip?
Link broken now 👀
now try that on bitcoin
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Yes, the reorgs have been getting more frequent and larger since my comment above. Their hashrate seems to vary significantly throughout the day and peaks in a concentrated window of time every day then drops off. Seems to be the pattern.
Almost there and, nobody else remembers that incident. 👍
Their average hashrate for Monero in the last 1,000 blocks is ~21%
Monero (XMR) RandomX | Mining Pools
List of known Monero pools (XMR) RandomX PoW algorithm. Live hashrate distribution, pool fees & minimum payment comparison. Mining Pools & Block Ex...
This is a state sponsored attack. Enjoy the show. It's THEM fighting us.
I feel sorry for the Bitcoiners that don't know how price suppression attacks work and how governments have recommended this attack more than half a decade ago.
Combine price suppression to make mining unattractive while using the fiat printer to pay out more on another chain, while 51% attacking a coin. If it succeeds say goodbye to your freedoms.
It's a master plan long in the making and the right time to execute, as Monero with its next upgrade will become untouchable by governments creating a converging time line with only one result: Monero or THEM.
Fire up your miners. This is the attack Bitcoiners have been waiting for 15 years. It's the end game.
Which state? Source?
Yes. They can disrupt the flow of blocks. They can not stop it fully and because data is encrypted they don't know what to censor. But of course they can mine empty blocks.
Selfish mining is known to work if one party controls more than 30%. If your enemy is literally the fiat printer through various outlets this attack can go on for quite some time especially if combined with naked shorting on CEX.
The best defence is making people aware of withdrawing all coins from CEX, as this attack is a combined effort.
Reading between the lines here. There are some things that are more likely connected than not.
Tradeogre going down (unclear if honeypot or taken down). You need to take out exchanges that can set the price. As soon as one CEX doesn't cooperate price suppression becomes hard.
MEXC and many instant exchanges stopping withdrawals, while deposits stay open (naked shorting). HTX, Poloniex and KuCcoin all have deals with US Intel.
Ledger CTO voicing his "opinion" compromised by France Intel.
Zcash/ECC starting a shaming campaign in the recent weeks compromised by United States/Israel Intel.
Price suppression attacks described by EU "scientists".
so, @Super Testnet was right all this time 🫢
No.
Read the basics.
I am confused. Why should Bitcoiners care about Monero?
Don't.
Ahahahaha. Just come back here in a year.
If that's a sincere question forget about it.
What the shit bro.
Another reminder that we must make Bitcoin work