In a spectacle as dazzling as a debutante’s ball gone awry, Qubic crypto has pirouetted to the forefront of the market rally, its mining pool achieving a staggering 51% dominance in Monero. 🕺✨ One can only imagine the raised eyebrows and clinking of champagne flutes in the cryptosphere.
- Qubic, with a flourish, led the altcoin rally after whispers (and not-so-whispers) of its 51% control of Monero.
- Such dominance, darling, could theoretically allow it to rewrite the blockchain-a power move if ever there was one.
- Yet, in a twist as unexpected as a vicar at a speakeasy, the pool did not abuse its newfound control. How quaint! 🧐
Qubic (QUBIC), that enfant terrible of the crypto world, has taken the lead in the latest altcoin rally, sending the Monero (XMR) community into a tizzy. On the fateful Wednesday, August 13, Qubic soared 25% to a daily high of $0.000003121, before settling at $0.000003006-a performance as dramatic as a Waugh novel. 🎭
The catalyst for this ascent? Reports, of course, that this mining pool had achieved 51% control of Monero’s hashrate. Crypto luminaries, including SlowMist founder Yu Xian and Ledger CTO Charles Guillemet, chimed in, confirming the “51% attack” and clucking their tongues at its implications for Monero. 🕵️♂️
Theoretically, any entity with such dominance could reverse transactions, double-spend, and overwrite the chain-a power that would make even the most seasoned aristocrat blush. Yet, Qubic’s reign was fleeting, and no malicious deeds were committed. By some estimates, maintaining such dominance would have cost $75 million per day-a sum that even the most profligate socialite might balk at. 💸
What Monero Dominance Means for Qubic
Sergey Ivancheglo, Qubic’s founder, explained that the operation’s goal was to fortify Monero against similar attacks. A noble endeavor, no doubt, though one suspects the spotlight on the Qubic token was a delightful side effect. 🌟
Qubic achieved this dominance by offering rewards so generous they would make a Christmas bonus look stingy. Its “useful proof-of-work” model converts mining rewards into USDT to buy and burn Qubic tokens-a scheme as ingenious as it is audacious. 🔥
Meanwhile, the 51% incident has left a smudge on Monero’s reputation, particularly as governments eye it with the same suspicion one reserves for a cousin with a gambling habit. Still, the Monero community has proven resilient, and the token stabilized at $256-a testament to its steadfastness, if not its charm. 🛡️
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2025-08-13 21:38