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Lots of Monero bros are in disbelief that a 51% attack by Qubic can happen 😕
Any PoW chain can be attacked. It doesn't matter how good your coin is: what matters is the security budget. Bitcoiners shouldn't gloat: Bitcoin might be next.
Here's a brief history of 51% attacks:
@crypto_maky In 2-3 halvings that won't sound like a joke at all. Bitcoin's security budget is diminishing.
27.6.2025
As Bitcoin's security budget continues to diminish, I've decided to launch — a website with live charts dedicated to explaining-like-you're-five why Bitcoin will fail one day if this issue is not resolved.
What you'll find:
• What's the security budget issue and what could be achieved with a 51% attack;
• How the budget is formed with subsidy (which is halved every 4 years) and fees (which still haven't formed the so-called "fee market");
• What can be done: good options like scaling Bitcoin, and bad options like breaking the 21 million coin cap which is already being proposed by some Bitcoin Core developers;
• An overview of the common fallacies like "the hashrate is growing, so we're okay" and "Bitcoin's price will moon to $1M, so we're okay".
H/t @jamesob and @Justin_Bons! Any suggestions are welcome!
@BawdyAnarchist_ As for "we need more hashrate", I kinda disagree. What Monero needs is a larger security budget first. The hashrate is just a byproduct of that.
For obtaining a bigger security budget, Monero simply (oh, well, "simply"…) needs more users. Adoption!
@zooko @milan_dereede @grok In case of Bitcoin, there's even a chance that implementing blacklists would positively affect the price: "our coin is now more compliant, so NgU even higher" 😵💫
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