Software Developer; Monero Dev. PGP: DC42 4DA4 A231 64FC 515F :: 1835 D184 C359 97CA 627A Do not take my follow list as an endorsement for their content.
Joined July 2009
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The 51% attack ... no.
With selfish mining and 51% hashrate you get 100% of the blocks because you've perfectly sliced the "target" hashrate in two.
Look at the graph in the selfish mining paper for concept. It shows a convergence to 100% revenue with 51% of hashrate.
Monero appears to be in the midst of a successful 51% attack.
The privacy-focused blockchain, launched in 2014 and long targeted by governments and 3-letters agencies, is already banned from most major centralized exchanges.
The Qubic mining pool has been amassing hashrate for months and now controls a majority of the network. A major chain reorganization was detected this morning. With its current dominance, Qubic can rewrite the blockchain, enable double-spending, and censor any transaction.
Sustaining this attack is estimated to cost $75 million per day. While potentially lucrative, it threatens to destroy confidence in the network almost overnight. Other miners are left with no incentive to continue, as Qubic can simply orphan any competing blocks, effectively becoming the sole miner.
In effect, a $300 million market-cap chain is taking over a $6 billion one. Monero’s options for recovery are limited, and a full takeover is now possible and even likely.
So far, XMR has dropped only 13%.
Lee ★!★ Clagett retweeted
When companies go public they must file paperwork disclosing their financials.
Doing so would expose the massive cash burn OpenAI is using. Therefore, Sam Altman can't go public but he also has run out of money.
Enter "whistle blower" Jacob Coxon.
It made no sense how an obscure nobody got 165 million views on his first X post saying AI could kill us all. Then he was on every news station within 48 hours, scaring the public.
This was a psyop to "regulate" the AI companies... aka give them government funding to "protect the public from the dangers of AI."
Lee ★!★ Clagett retweeted
I can't pay for my burger at @SteaknShake with IBIT. Bitcoin self-custody and using it as a currency is what matters.
Someone telling you to buy IBIT reveals what they want out of bitcoin, which is fine too. They are just dollar maxis and bitcoin is "just" an investment.
Lee ★!★ Clagett retweeted
Seeing a lot of people saying “self custody is over” thanks to the Coldcard hack.
Couldn’t disagree more. ~1,100 BTC has been stolen so far (est). And ~11,000 BTC went to exchanges yesterday. Potentially 10x more BTC was saved thanks to the fact that it was held in self custody! Why?
The distributed defense of self custody GAVE PEOPLE TIME to save their own money. If that RNG bug happened at a centralized custodian, all of the BTC is gone in one swoop. No time to react. But when it happens to a self custody wallet, each wallet has to be found and swept individually. People have time to act.
It makes the entire Bitcoin system more systemically resilient. And yes, it’s terrible that people are losing money. But in a scenario where this happens at a custodian, you eliminate any chance to react and save some people. If all bitcoin is held by a few centralized companies, you reduce that distributed defense and significantly increase the systemic risk of Bitcoin as a monetary network.
How are these cold card hack numbers calculated? Seems like a good way to scare people from crypto without solid evidence.
I guess you can see consolidation on-chain, and infer that there were stolen? But if valid users swept to coinbase/kraken you would see consolidation too.
Another CCS (donate!): ccs.getmonero.org/proposals/…
Upcoming: fcmp++ spending in lwsf, lws pushing of txes (remove polling) for real-time updates (skylight!).
Completed: Carrot/fcmp++ receiving in lws, correct lws subaddr lookahead, lwsf conversion to boost::beast, bug fixes!
As a follow-up, lws already detects legacy+view-balance spends from other wallets, but work is needed for frontends (like lwsf) to spend outputs provided by the backend.
ccs.getmonero.org/proposals/…
My new CCS is in funding!
Upcoming: LWSF /feed unit testing, investigate (indirect) block limits, and new lib for encrypting wallet data with FIDO2.
Done: LWS+F ready for fmcp++, LWS+F /feed implemented, monerolws.com, and Docker improvements.
The full list of work completed is listed under merged PRs at repo.getmonero.org . The total list included stuff in LWS, LWSF, and monerod (mostly bug fixes but some updates to ongoing PRs).
Lee ★!★ Clagett retweeted
A new Monero wallet has been released!
Introducing Skylight Wallet, a modern Monero light-wallet 🎉
Open-source. Self-custody. Automatic Tor. Instant sync.
Get it on Google Play or download the APK today! iOS and desktop coming soon. More details in our post:
magicgrants.org/2025/11/24/I…
ALT MAGIC Grants: Skylight Wallet logo
Lee ★!★ Clagett retweeted
Budget Monero mining rig
Hashrate: 19,250 H/s
Power draw: 142 watts
Cost: $607 shipped
No more excuses. Start mining.
Lee ★!★ Clagett retweeted
And to those "liking" this post, I'm primarily hesitant on Tevador's Publish or Perish proposal. His reward-splitting proposal was basically PRS but uncle blocks only (no work shares).
After some hard-numbers are calculated, the work-shares might damage sync-time too much.
Lee ★!★ Clagett retweeted
After people pushed me to rethink Tevador's claims - the PRS is probably the best proposal I've seen. It doesn't eliminate selfish mining or reorgs, but it makes both harder to achieve.
As a PSA:
I'm going to prioritize fcmp/carrot in lws this ccs cycle, so if you want to use lws in Monero through the protocol changes, consider donating.
lswf work will be lessened a bit this cycle; its mostly usable minus hardware support and a few other small things.
With all the hoopla about qubic and fcmp, lets not forget about our foundation!
One of the most consistent contributors to the codebase for ~8 years now. Addressing hackerone reports, lws, a lot of the networking code. And important, reviews
**vtnerd**
ccs.getmonero.org/proposals/…
Lee ★!★ Clagett retweeted
With all the hoopla about qubic and fcmp, lets not forget about our foundation!
One of the most consistent contributors to the codebase for ~8 years now. Addressing hackerone reports, lws, a lot of the networking code. And important, reviews
**vtnerd**
ccs.getmonero.org/proposals/…
Lee ★!★ Clagett retweeted
These are self-reported, so it's a bit difficult as to who has what hashrate exactly now.
Lee ★!★ Clagett retweeted
Boys (and gals), we gottem.
He struggled through that statement and still tried to embellish it as much as possible to make himself look good, but we have an admission that CfB lied and manipulated the public into believing he 51% attacked the Monero network as a publicity stunt.
xitter.cf/DontTraceMeBruh/status…
The knots situation is a mess. Luke is incorrect on the "spam" debate.
If they paid the fee, it ain't spam. That's the only metric.
Lee ★!★ Clagett retweeted
Well it doesn't make any sense - stocks are supposed to pay dividends in USD. Their only plan is to hoard BTC; dividend payments will require selling BTC for USD. So these companies are hoarding BTC but are short BTC and long USD.
It's all completely ass backwards.
