You would see that this has been doing rounds now since recently. MineXmr (a supposedly infamous) mining pool, now owns [52% or more of network’s hashrate]( Know that Monero mining is special and has been touted to be more decentralized as it supports CPU mining, which has been the case so far. Even China’s infamous ban, did not bring down network hashrate, just like it did to Bitcoin’s 50% dip in hashrate.
However, in the past 24 hours alone, there has been close to 15% jump in the hashrate from 44% to 52% odd at mineXmr. This does not seem normal and has now become a major point of discussion that it could be seen as a deliberate attack on the network to double-spend.
The major problem is, the amounts spend/received cannot be deciphered, given it remains hidden on the Monero blockchain. Once hashrate has crossed 50%, anything is probable.
The ONLY trust factor is MineXmr owner remains loyal to the blockchain. Trustless has now become – trustful. And he is not willing to bog down, and he does not care and is willing to keep adding more hash power to his pool’s throughput.
Really Sad!
More more info, read here:[
EDIT1: **51% Attack Real-World Examples**
Krypton and Shift, two blockchains based on [Ethereum]( suffered 51% attacks in August 2016.
In May of 2018, Bitcoin Gold, at the time the 26th-largest cryptocurrency, suffered a 51% attack. The malicious actor or actors controlled a vast amount of Bitcoin Gold’s hash power, such that even with Bitcoin Gold repeatedly attempting to raise the exchange thresholds, the attackers were able to double-spend for several days, eventually stealing more than $18 million worth of Bitcoin Gold. Bitcoin Gold was hit again in 2020.
Recently, the Bitcoin SV (BSV) network suffered an attack in August 2021.
# EDIT2: An important comment by [MaZZeL3L](
Yeah 51% attack is not a healthy thing and I wouldn’t accept any payments as final until a few blocks of confirmation but right now there’s no real threat to the anonymity of transactions, nor the amount of coins in existence. they can’t change consensus either.
​
#EDIT3: BEST explanation by u/cndvcndv
If the miners keep that going, it’s not gonna be great for them at all. No one will accept to get paid by XMR even for trades. That would cause the price to drop and reduce their profits. That’s really reckless.
From the perspective of other miners, they might feel scared that their blocks will be kicked out of the chain. I hope that doesn’t cause them to move into mineXMR. I don’t know how one would break that positive feedback loop unless the price hits bottom.
I love XMR; it’s sad to see that happening.
The logic behind being able to pool your power and spread out decentralisation is a paradox.
People will not pool for the sake of decentralization, they will pool for the highest profits.
About to start up “old reliable” (my 6 year old gaming laptop) and sort this mess out. Time to shine.
It’s [down to 49.5%](https://pools.xmr.wiki/), still not great but cool to see some rapid response
Let’s all dust off the old laptops and do our part.
Just like in Starship Troopers
So he could theoretically double spend, and because of the privacy if Monero, nobody would know? Could this be found out somehow?
This is how governments can beat Monero. If you cant beat em, buy em.
This is trouble some for sure!
P2pool is a great option, for anyone concerned about this. Let’s get 51% of the hashrate into p2pool + p2pool mini.
The funniest part is that if they really wanted to attack the network they could easily hide their dominance…
oh god no please no , not monero
Highly doubt this is a 51% attack, since it stayed there for a short time, and apparently many miners moved to other pools, since the hashrate hasn’t increased, but minexmr now has around 45%.
Alright monero fanboys, shill me now.
Wow, that’s not good.
Does the pool actually control all of that hashpower?
As I understand it, the majority of the hashpower is still distributed across a ton of different people and devices and the pool has no control over how the miners are operating. For a 51% attack to occur, wouldn’t all of the miners who are part of this pool also have to be complicit in the attack to pull it off?
cant the project create a rule to limit a pool to say 30%?
If the miners keep that going, it’s not gonna be great for them at all. No one will accept to get paid by XMR even for trades. That would cause the price to drop and reduce their profits. That’s really reckless.
From the perspective of other miners, they might feel scared that their blocks will be kicked out of the chain. I hope that doesn’t cause them to move into mineXMR. I don’t know how one would break that positive feedback loop unless the price hits bottom.
I love XMR; it’s sad to see that happening.
Down at 46% as we speak. Not enough, i wanna see this shit down to 20-30%
Will we see 51 attacks?
How tf does the most popular privacy coin run the risk of getting 51% attacked the same day Trudeau becomes a dictator.
These posts should be accompanied by guides on how people can help.
If they cab 51% monero… they can 51% bitcoin gov stress test.
The guys at r/nanocurrency are always talking about how PoW and PoS have centralization incentives but I never realized pools would be a “join or die” type of thing for miners
what are the alternatives to XMR for private and anonymous crypto operations?
It’s down a bit now. Still needs to go way lower.
Well, as of right now, it’s down to 38%. So looks like people got the message.
Watch all miners flock to Ergo
realistically this isnt a problem at all. you can’t change consensus with mining, nodes will just go “lol nah” even if you submit wrong blocks with 99% hashrate.
they could double spend but where to? last time i checked most merchants required 10 confirmations, you can’t revert 10 whole confirmations with barely 50%.
they could mine empty blocks but why would they, you’re not getting transaction fees for empty blocks.
this is sheer panick but you do you, I too want to buy some cheap monero.
That part might not be decentralized. But it gets the job done.
Execute Order 66.69 Quintillion
that was fast, yesterday the headlines said 44 %
So this how governments attack monero.
This is really bad
Back when I mined, the pool I was in had 50%+ for a while… the world didn’t end.
Well, guess Monero is also a shitcoin now.
Had a good run, like led it