27 Feb Monero (XMR) Holders will receive 10 MoneroV (XMV) in Hard Fork expected March 14th
The MoneroV blockchain will contain the history of all Monero transactions up until block 1,529,810 and all Monero (XMR) holders will receive MoneroV (XMV) in the rate of
Sounds great, so where’s the Pump?
Monero (XMR) has had a long-standing history as a Top-20 cryptocurrency, usually ranking somewhere between the #10 and #15 spot for extended periods of time.
Monero’s current rank is #12 with a market cap of $4.8 Billion and price of $302 USD.
The USD price of XMR has traded as high as $470 USD.
Yet, today the price of XMR is a mere $300, down over 1/3 from it’s all time high.
It’s important to note however, that XMR has significantly outperformed BTC since our all-time-highs in December. As you can see in the XMR/BTC pair, the Monero price trend is positive and appears quite healthy from a Technical Analysis point of view.
When you overlay the two and compare % changes since November 2017, you see that Monero is still up 146%, while Bitcoin (represented by the red line) is up only 65%
XMV fork is Bullish for XMR’s price
Monero has performed well in recent months and in anticipation of the Fork. However the incentive to hold Monero for the fork may very well send the price up further. Investors and traders alike will want to acquire more XMR to exploit the fork.
- Capped: MoneroV adheres to core Austrian school of economics principles by capping the total MoneroV coins that can be created, parting with Monero’s infinite coin supply structure.
- Secure: Decentralized peer-to-peer blockchain transaction consensus enables MoneroV to be secure and reliable.
- Private: MoneroV is truly anonymous and private. 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.
How can I get MoneroV?
Anyone holding Monero during the fork at block 1,529,810 (~14th March) will receive MoneroV coins (XMV) in the rate of 1 XMR = 10 XMV. As an example, if you hold 1 Monero coin (XMR) prior to the fork, you will own 10 MoneroV (XMV) after the fork.
If a third party stores your Monero coins, like an exchange or a custodian wallet service, you will need to inquire with them about your MoneroV coins.
Any secure wallet where you control your private key will work for receiving MoneroV.
How is MoneroV different than Monero?
- MoneroV has a limited supply of coins in contrast to Monero’s infinite coin supply.
- MoneroV and Monero’s proof of work algorithms are on a different development path, as MoneroV’s will focus on mitigating the mass use of botnets and unsuspected browser-based miners.
- MoneroV will have an active development fund that would be used for rapid development and feature integration versus Monero’s voluntary donation based development process.
- In addition, MoneroV will implement new protocols that will solve the scaling problems facing Monero and other cryptocurrencies such as Bitcoin. In-depth detail is included in the MoneroV roadmap: https://monerov.org/MoneroV-Roadmap.pdf.
MoneroV Coin Specs:
- Total Supply – Capped at 256 Million XMV.
- Circulating Supply at Hard Fork Split – 158 Million XMV (10x circulating XMR supply).
- Proof of Work – CryptoNight (to be modified)
- Difficulty Retarget – Every block. Adjusted difficulty initially after the split.
- Block Time – Every 2 minutes.
- Block Reward – Smooth decrease. Minimum of 6 XMV per block at 184,467,440 XMV in total emission until 256M max supply reach.
- Block Size – Dynamic.
- Privacy – Ring signature / stealth addresses.
Always Do Your Own Research. Hold on for dear life.
Github (Repository roll-out):