Kraken Freezes Monero Funding Amid Control Concerns | Community Divided
Kraken has suspended funding for Monero due to allegations that a mining pool gained over 51% control of the network. This decision sparked significant backlash among crypto enthusiasts, raising concerns about the security and decentralization of the cryptocurrency.
Growing Tension Over Control Allegations
Reports claim a mining pool may have achieved majority control, leading to Kraken's choice. However, community members are split on the legitimacy of these claims. One commenter declared, "It’s FUD, the mining pool has around 22%. They’re lying about their hashrate." This sentiment highlights the ongoing dispute surrounding the matter.
Another user commented, "What does any of that mean? Who is stupid enough to put in their real money for this imaginary money?" This reflects skepticism about the viability of the currency and the broader crypto market.
Voices of Concern from Small Miners
Amid the turmoil, smaller miners are increasingly anxious about their place in the market. A participant noted, "The rewards are barely paying enough to make it profitable to mine, and they will continue to decrease with every halving." This concern emphasizes how economic pressures may lead to the consolidation of power in larger mining pools.
A different perspective emerged when a user stressed the risks, saying, "Fuck the selfish miners. I’m only buying my Monero crimebux from altruistic miners." This comment highlights the divide between those prioritizing profit and those valuing the community's integrity.
Future Uncertainty for Monero
The controversy surrounding Monero raises critical questions about its future viability. Users are asking whether a 51% attack could become inevitable if the price does not rise. One participant warned, "Wouldn’t that make a 51% attack inevitable if the price does not keep going up?" This uncertainty emphasizes the need for transparency and accountability as the community anxiously waits for developments.
Key Takeaways
🔒 Kraken halts funding amid claims of imminent threat.
❓ Conflicting views on mining pool's control spark discussions.
📉 Smaller miners face economic strain, increasing consolidation fears.
✋ "It’s FUD, the mining pool has around 22%." – A user challenges the narrative.
🚨 "Who is stupid enough to put in their real money for this imaginary money?" - Comment reflects skepticism on viability.
As the situation develops, the crypto community remains on high alert. Users are demanding more accountability and transparency in Monero's operations, hoping for a resolution that restores confidence in the network.