Should Bitcoiners Help Attack Monero? \ stacker news ~AskSN

TRIGGER WARNING!!!

About a month ago I had heard that there was this sh$tcoin that was able to do multiple reorgs of the Monero blockchain. It turns out that it is still happening and a few days ago they were able to do a particularly large one of 18 blocks.

It sounds like they are doing some kind of merged mining with Qubic and Monero. Whenever the Qubic pool finds a block they immediately sell it for a stablecoin and the Qubic token is burned?!?! TBH, I don't know what's going on, but whatever they're doing it seems to be working. At the very least it's getting attention and news articles written about it (any publicity is good publicity right?).

I have never cared much about Monero, but I do have a soft spot for their community who I think are good at pointing out some of the weaknesses within Bitcoin. I don't believe that Monero has a better solution with (just to name a few) CPU mining, tail emissions and a history of hardforking.

Still, I think privacy matters and it seems to be getting little attention within the Bitcoin space. Maybe it was the shutdown of Whirlpool or just mainstream adoption drowning it out but some of the exciting projects like Joinstr look like they have kinda been shelved.

So anyway.... What if we could get some of the privacy advocates back into Bitcoin by helping to attack the Monero network?

All you need is to set up an old CPU to mine Qubic. If their pool continues to grow they can continue to reorg or even 51% attack Monero. Seeing the sinking ship the smart ones will move. Some of the Monero community will likely move to other privacy coins, while others will have to come back to Bitcoin (and we could use them too!)

Curious to hear what stackers thing of this idea. Is it a dirty low act? A waste of time and resources? Or a worthy cause to bring a larger group of privacy advocates to Bitcoin?

NOTES: They talk about the situation a bit on this episode Watchman Privacy

ATTACK!!!23.1%

Ignore. Make better use out of your CPU.30.8%

It's a dirty scum bag thing to do.46.2%

13 votes \ 2h left

84 sats \ 1 reply \ @SimpleStacker 20h

No, we shouldn't attack other projects. I think that's counterproductive. If there's truly another coin that does what Bitcoin does but better, we shouldn't be against that (IMO)

0 sats \ 0 replies \ @OT OP 14h

Fair enough

42 sats \ 1 reply \ @fiatbad 18h

I think a lot of the value proposition for Bitcoin comes from its ability to repel myriad attacks which no other blockchains would be able to repel.

This fact is completely lost on the altcoin communities who view Bitcoin as old tech.... "boomer coin". It's lost on them because their chains are never seriously attacked. Usually, market caps for them are too small, so the honey pot is too small to attract attackers.

They don't seem to understand that "it's the settlement assurances, stupid."

https://medium.com/@nic__carter/its-the-settlement-assurances-stupid-5dcd1c3f4e41

So, how do we get them to understand?

Simple. Attack everything. Like a white-hat hacker, or a pen-tester.... attack and subvert as much as possible.

People are putting too much emphasis on scalability (i.e. B-cashers), or privacy (Monero), and not enough emphasis on the settlement assurances!! Attacking the shit out of them is how we educate.

In the podcast they both agree that if they aren't able to mitigate this kind of attack then the project isn't worth saving. I've also seen some say that these attacks should make it stronger. If they all ran a miner the reorgs would likely stop.

The other thing that I forgot to mention is that their community is discussing what to do about this and some are talking about proof of stake or going back to asics.