Lee ★!★ Clagett

Software Developer; Monero Dev. Pro America.

Do not take my follow list as an endorsement for their content.

[Lee ★!★ Clagett @vtnerd]

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.

[Charles Guillemet @P3b7_]

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 @vtnerd]

Additionally, the /feed protocol should allow real-time updates for Skylight and lwcli wallets, instead of polling the server. The entire flow is vastly more efficient in processing time and payload sizes (the client "syncs" then receives only changes to blocks/txes).

[Lee ★!★ Clagett @vtnerd]

Another CCS (donate!): https://t.co/ZR3iDTlTv9

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!

[Lee ★!★ Clagett @vtnerd]

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.

[Lee ★!★ Clagett @vtnerd]

The full list of work completed is listed under merged PRs at https://t.co/WACUbMWhLB . The total list included stuff in LWS, LWSF, and monerod (mostly bug fixes but some updates to ongoing PRs).

[Lee ★!★ Clagett @vtnerd]

https://t.co/yD6K2eAwvv

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, https://t.co/KZ9lapdCHZ, and Docker improvements.

[Lee ★!★ Clagett @vtnerd]

@Adriksh Yup, I actually do this indirectly all the time with `boost::asio::coroutine`s. Shockingly useful in that context.

[Lee ★!★ Clagett @vtnerd]

@lopp @WayneVaughan Quantum computing is the ultimate scam. It'll be 2200 and still 10 years away.

[Lee ★!★ Clagett @vtnerd]

@BDCryptoGuru Supposedly in Weimar Germany the currency rallied just before hyperinflation. Wealthy people sold their assets for Reichsmarks just before dumping them for foreign currencies/assets.

Not sure where modern people fleeing USD would go though.

Plus crashing is probably hyperbolic.

[Lee ★!★ Clagett @vtnerd]

@aedison Focal. Get them Beryllium tweeters.

[Monero (XMR) @monero]

A new Monero wallet has been released!

[Lee ★!★ Clagett @vtnerd]

@DouglasTuman The worst part about car transactions is potential check fraud. Any reasonable crypto-currency is light-years ahead in this area; it's bizarre that we still rely on these antiquated crap systems for large purchases.

[Lee ★!★ Clagett @vtnerd]

@nic_carter VT's finest CompSci grad. Sigh.

[FiatDemise @FiatDemise]

Budget Monero mining rig

Hashrate: 19,250 H/s
Power draw: 142 watts
Cost: $607 shipped

No more excuses. Start mining.

[Lee ★!★ Clagett @vtnerd]

@r_a_d_a_n_n_e @ofrnxmr @exitnode_ There is someone in MRL claiming to be an author of the PRS paper. So there is an ongoing discussion, directly with Tevador.

[Lee ★!★ Clagett @vtnerd]

@r_a_d_a_n_n_e @exitnode_ The problem monero-research-lab highlighted is the "sampling rate" (i.e. number of shares in a block), probably need to be pretty high for PRS to be effective. The block size bloat+sync time is going to be impact pretty negatively.

[Lee ★!★ Clagett @vtnerd]

@r_a_d_a_n_n_e @exitnode_ And now monero-research-lab has me hating PRS again. Lol. Sorry for the back-and-forth, probably going to mostly sit this argument out, and provide just feedback here and there.

[Lee ★!★ Clagett @vtnerd]

@r_a_d_a_n_n_e @exitnode_ 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 @vtnerd]

@r_a_d_a_n_n_e @exitnode_ 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 @vtnerd]

@jdowning @MoneroTalk Tevador, who contributed to RandomX significantly, provided the 100==1.5s value. Not sure how it was computed.

He's not completely wrong in the criticism of PRS: it increases full-sync time by a good chunk.

[Lee ★!★ Clagett @vtnerd]

@mechanikalk @MoneroTalk I'm also not sure where you pulled 1ms from. We'd have to investigate: how many shares are included in a block (which increases block size, and full sync time), and how to map shares->lookup table (probably a faster crypto-hash function).