Ah, the illustrious Qubic Group, ever the purveyor of digital mischief, has set its sights upon the whimsical Dogecoin, following its audacious claim of having briefly seized the reins of Monero’s network. One can only imagine the raucous laughter echoing through the halls of their mining chambers as they regale tales of their exploits!
In a most theatrical display, the group proclaimed that they had orchestrated the reorganization of six blocks on Monero, and then, like a benevolent monarch, summoned their loyal subjects to cast their votes on which ASIC-friendly proof-of-work coin should be the next to endure their experimental whims. The fateful day of this democratic farce was August 17, a date that shall live in infamy!
And the Winner Is… Dogecoin!
In a shocking twist worthy of the finest melodrama, Dogecoin emerged victorious, garnering over 300 votes, much to the chagrin of Zcash and Kaspa, who must now lick their wounds in the shadows of this canine champion. Sergey Ivancheglo, the illustrious founder of Qubic, took to the stage to announce this triumph, as if he were a proud parent at a school play.
With claims of their Monero pool achieving a staggering 51% share, they now boast a hashrate of approximately 2.3 GH/s. Such numbers! One might think they were discussing the latest fashion trends rather than the arcane world of cryptocurrency.
The #Qubic community has chosen #Dogecoin.
– Come-from-Beyond (@c___f___b) August 17, 2025
However, this technical bravado has ignited a veritable tempest within the Monero community. Developers and miners alike are left scratching their heads, pondering whether Qubic ever truly held the coveted, uncontested control they so boldly claim.
Some skeptics argue that their block reorganization is but a flimsy proof of their capabilities, while others are left to wonder if this is merely a tempest in a teapot. Regardless, the mere whiff of disruption was enough for Kraken to halt Monero deposits, as exchanges and services scrambled to assess the potential fallout.
The Dreaded 51% Attack: A Comedy of Errors
Ah, the infamous 51% attack! A delightful little trick that allows the controller to rewrite history, halt transactions, or engage in the most audacious double-spends. One can only imagine the glee of those who wield such power!
Qubic’s recent escapade demonstrated their ability to orchestrate a minor reorganization on Monero. Should they apply a similar level of control to Dogecoin, the consequences could be far more dramatic, given Dogecoin’s market capitalization of over $35 billion. A veritable goldmine for the enterprising rogue!
Yet, let us not forget that Dogecoin enjoys the benefits of merged-mining with Litecoin, boasting a significantly higher hashrate. Thus, any attack would likely require a king’s ransom, leaving our would-be villains pondering the cost of their mischief.
In the wake of this news, markets and exchanges reacted with the swiftness of a startled cat. Prices danced to the tune of uncertainty, while custodial services tightened their checks, as if preparing for an impending storm.
Kraken’s hasty decision to pause deposits serves as a stark reminder of how quickly exchanges will act when faced with the specter of block reorganization. Users and traders now find themselves navigating a sea of short-term uncertainty, a delightful predicament indeed!
What Lies Ahead?
As the dust settles, the timeline remains shrouded in mystery. Qubic has yet to unveil a clear plan of action against Dogecoin, leaving observers to speculate and ponder the implications of this digital drama.
All eyes will be on the technical logs, awaiting further statements from the project, and any responses from the beleaguered developers of Dogecoin and Litecoin.
As the world watches, many will seek proof that Qubic’s tests were, in fact, non-destructive, and will demand evidence of how long the pool truly held sway. Most outlets have dubbed Qubic’s actions a 51% attack (a chain reorganization), rather than a “hack” in the traditional sense. Yet, it remains an affront to network consensus, and many perceive it as a rather hostile act indeed!
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2025-08-18 16:20