MoneroV Possible SCAM or Free Money!

in bitcoin •  7 years ago 

MoneroV (XMV) hard fork from Monero to take place approximately March 14

monero split.jpg

All Monero holders as of block 1529810 will be owners of MoneroV.

Monero holders prior to the hard-fork split that will occur in block 1529810 (~14th of March 2018) will receive 10 times their holdings in MoneroV coins.

Features:

  • Capped: MoneroV has limited supply of coins compared to Monero’s coin infinite supply.
  • Secure: Decentralized peer-to-peer blockchain transaction consensus enables MoneroV to be secure and reliable.
  • Private: MoneroV clames to be private. (like Monero). Sending and receiving addresses are obfuscated, as well as all amounts being transferred in all transactions. Your identity cannot be linked or traced to a transaction on the MoneroV blockchain.
  • Scaling: MoneroV clames to implement new protocols that will solve the scaling problems facing Monero

SCAM?

It is definitely not supported by Monero:

Paul Shapiro, one of MyMonero partners, said that MyMonero will not support any non-native forks of Monero (including MoneroV).
This is the same scenero as Charlie Lee’s announcement that Litecoin Cash was a scam.

monero gamble.jpg

RISK?

According to Monero, "a closed source wallet is a bad idea simply because there’s no way for users to know what the code is actually doing."
They are absolutely correct, but this seems like double edged argument since a closed source code could also help in privacy.

You are expected to use a Monero Private key to collect your new MoneroV coins after the hard fork. Make sure you have emptied that wallet prior to relinquishing any private key. When you release your private key, never use that wallet again. Create a new wallet if you have to.

One source of concern is that the new MoneroV blockchain is a ploy to collect private transaction records. If you are not concerned about privacy or don't currently have a Monero wallet, this won't be an issue. If you are currently using a Monero wallet and don't want to compromise your transaction information, then it may be best to opt out or find a way to move Monero to a new wallet through a 3rd party.

How to Collect:

  • Get a disposable wallet that provides you access to the Private Key.
  • Hold your Monero there until the hard fork block occurs at 1529810
  • After the hard fork, move your Monero to another wallet.
  • The MoneroV wallet should be available after the hard fork to download. Use your Private Key of the disposable wallet to collect your MoneroV.

What exchanges support MoneroV hardfork?

So far, there are no announcements of exchanges supporting the hard fork.

moneroV.jpg

When will the MoneroV wallet be released?

The official MoneroV wallet, in addition to other dependencies such as the MoneroV daemon will be released a few days after the blockchain snapshot date, as compilation and setup can only occur after the 1529810 blockchain height point.

Official Website:
https://monerov.org

Blockchain Explorer:
https://monerovexplorer.com

Twitter Feed):
https://twitter.com/monero_v

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I consider almost all cryptos named "popularcoin-something", to be scams and just a way for those people to make money. I would never hold any of those long term.

It's possible for others to make some money short-term too though and if that's how the market is then you just have to go along, just be cautious people.

The Litecoin Cash worked out pretty well. People were calling it a scam. For me, it was free money. If it were a scam, then no issue for me. I wouldn't have lost anything.

Great advice on emptying your Monero wallet before using the private key to access the MoneroV. The limited supply looks good for this token as a counter to inflation, it will be interesting to see what happens to Monero's price leading up to March 14.

I may be getting a boost already.

goood : Monero
im 10000000000000

This is an interesting post. I was a good read.

It doesn't sound good to me if you have to use your private key to get MoneroV.