Monero (XMR) is confronting what key voices on X describe as a 51% assault from the Qubic mining pool. Bitcoin developer Peter Todd set the tone early, writing: “Fascinating. Apparently Monero simply had an enormous reorg too, I assume associated to this assault.” When requested whether or not Qubic had definitively crossed the 51% threshold, Todd cautioned that real-time dominance is tough to pin down: “That’s inherently tough to measure. PoW is probabilistic.”
Monero Beneath Siege As Qubic Claims 51% Management
A broadly circulated publish from an account styling itself as Coffeinated Consumer sketched the alleged playbook and economics in stark phrases: “Qubic simply reached 51% share of Monero. It is a big feat. They would be the first to control a cryptocurrency with a 51% assault. They intend to orphan all blocks from each different miner, making themselves the one mining entity of Monero.” The identical publish asserted a profit-split and buyback/burn mechanic round QUBIC tokens: “They’re 3X extra worthwhile than mining Monero straight. They’re giving half the revenue to miners and promoting the opposite half of the revenue to purchase QUBIC and ship it to the burn pockets.”
It prolonged the declare into concrete issuance math and greenback figures: “In the event that they mine 100% of the Monero blocks this offers them 432 Monero mined per day. That is $118,342.08 on the present Monero worth. They maintain 50% of that and provides the remainder to miners making their revenue $59,171.04 of Qubic being burned day by day. $414,197.28 burned per week and $1.656 million burned each month. That is insane.” The publish concluded with the market-cap juxtaposition: “Qubic a lower than 300 million greenback market cap would be the sole miner of a 6 billion greenback market cap coin.”
From the XMR group aspect, the account @monerobull characterised chain situations as unprecedented and urged a hash-rate mobilization: “Monero simply skilled its deepest re-org ever. Everybody head to gupax.io and begin mining. qtip has a halving in 20 days, after which they received’t have the ability to maintain this assault going.”
{Hardware}-wallet government Charles Guillemet, CTO at Ledger, summarized the state of affairs and its implications in a protracted publish that didn’t mince phrases: “Monero seems to be within the midst of a profitable 51% assault.” He tied the second to Monero’s adversarial historical past and change de-listings: “The privacy-focused blockchain, launched in 2014 and lengthy focused by governments and 3-letters businesses, is already banned from most main centralized exchanges.”
On the attacker’s capability, he wrote: “The Qubic mining pool has been amassing hashrate for months and now controls a majority of the community. A significant chain reorganization was detected this morning. With its present dominance, Qubic can rewrite the blockchain, allow double-spending, and censor any transaction.”
Guillemet additionally injected a jaw-dropping back-of-the-envelope value: “Sustaining this assault is estimated to value $75 million per day.” He warned of the inducement collapse for trustworthy miners—“Different miners are left with no incentive to proceed, as Qubic can merely orphan any competing blocks, successfully turning into the only real miner”—and framed the asymmetry: “In impact, a $300 million market-cap chain is taking up a $6 billion one. Monero’s choices for restoration are restricted, and a full takeover is now attainable and even seemingly.” As to market response, he added: “Up to now, XMR has dropped solely 13%.”
From inside the Qubic undertaking, “Come-from-Past” (Sergey Ivancheglo) signaled each triumph and a name for third-party validation: “Appears like #Qubic has achieved 51% over #Monero, we’re ready for impartial confirmations. In the mean time #Monero crew is sharpening particulars of their 51% assault safety.”
Responding to earlier accusations about motives, he continued: “Many accused us of being sponsored by 3-letter businesses to assault this anon coin. What do you assume now, after we has helped Monero to organize for its future fights towards these businesses?..”
At the same time as Todd underscores that “PoW is probabilistic” and exact majority measurement is elusive within the second, the refrain of on-the-record claims from each critics and proponents paints an image of Monero grappling with a reside, majority-hashrate problem—and a group dashing to counter it in actual time.
At press time, XMR traded at $252.
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