Monero (XMR)’s new hard fork Monero V (XMV) has the community split

Monero (XMR)’s new hard fork Monero V (XMV) has the community split

Monero (XMR) has seen a dip almost consistently since the past week mostly because of the bearish nature of the current market. Monero has a market cap of $4.79 billion which is private, secure and completely untraceable based on the CryptoNote protocol. It had fallen down to as low as $265.23 after reaching $304.67 in the same week.

XMR traded up 4.1% against USD in the past 24 hours and dropped down in no time again by 1.23%. According to a forum, 78% people think Monero will grow in the coming days. A hard fork is expected to hit the market by March 14th. Monero V, as it will be called, is distinct from Monero because it supplies limited coins unlike Monero with an infinite supply.

Harley Quinn, a user on Twitter and a Monero enthusiast says,

AMP Telegram

“It’s 100% scam. Let me get this straight, you have to enter your Monero keys in the MoneroV wallet to claim them so if there’s spyware in it they can steal your actual XMR. If you’re smart enough to wait until after the fork and move your Monero first they can still de-anonymize all your past XMR transactions up to that point. So there’s a good chance this is a straight up scam, a de-anonymization attack on the Monero blockchain, or both.”

Another market observer, Quintin commented,

“Everything will be open sourced so you can download and compile it yourself. Compiled binaries with PGP keys will be supplied. It’s neither a scam nor a de-anonymization attack.”

Snirpie, a crypto enthusiast defended stating,

“It will come down to 9.5% of the supply at the time of launch. No escrow, no nothing. They get all the proceeds up front without any effort. And remain anonymous. What could go wrong?”

All XMR users will get 10 Monero V (XMV) tokens per XMR. Monero V team focusses on the importance of rectifying the flaws of Monero and making XMV the preferred token. According to them flaws also include the “conservative”, centralized core team of XMR which makes it hard for any developments and new technologies to get implemented.

source: https://ambcrypto.com/monero-xmrs-new-hard-fork-monero-v-xmv-community-split/