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How Qubic fakes its Monero hashrate

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How Qubic fakes its Monero hashrate

Qubic shills like to use a website (that is related to Qubic, so no credibility at all) to show their "progress" in their 51% attack. Yesterday, this website showed Qubic at close to 50% hashrate, and now at 32%. The army of bots on X are quick to push this narrative as a "proof" that the attack works and Qubic is "just about" to cross the 51% line.

Well, this is all false. Monero is fine.

https://preview.redd.it/ryycy15l69hf1.jpg?610&format=pjpg&auto=webp&s=17b9d4456f586d130235b5b1b3ecb91e466861d7

The correct way to calculate Qubic's hashrate is to go on this website and subtract "Hashrate" from "Network Hashrate". This way, we can see the "unknown" hashrate from Qubic, since it does not share its API anymore.Right now, network hashrate is 5.15 GH/s and the pools are reporting 4.57 GH/s. This mean that everyone else, solo miners or unknown pools, AND Qubic, get a maximum of 0.58 GH/s (5.15 - 4.57), which is 11.4% of hashrate (0.58 / 5.15).

https://preview.redd.it/qkdi7p6x69hf1.png?723&format=png&auto=webp&s=3f6f0179ace693e82a54de3df7d19512cb4cf3ed

By using this correct way of calculating the hashrate, Qubic never went over 25% yesterday and even then it couldn't sustain this hashrate for more than a couple of minutes.

Qubic mined only 160 of the last 1000 blocks, an average of 16%. We are far, really really far from a 51% attack.

https://preview.redd.it/td7d2mgoi9hf1.png?734&format=png&auto=webp&s=3ab3287e1fd4501cf34d9a2fdb60a0c15f76af4b

So, yes, it seems those who said it was a pump and dump scheme based on propaganda more than reality were right.

Qubic failed miserably. But it helped to convince Monero lovers how important it is to mine and how easy it is.

submitted by /u/QuirkyFisherman4611
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