Topic: [ANN] [XMV] MoneroV - Fork 1:10 of Monero - Finite coin supply - Private - page 43. (Read 45793 times)

You might be right but I must say I am still struggling to see the value of MoneroV that some people on this forum suppose for the forked coin.

This article explains it fairly well, have a read.
https://btcmanager.com/monerov-trap-laid-monero-users/

hi guys,
this might stupid question but can some one clarifiy for me please.

1.Which wallet is best for storing Monero where i can claim XMV or the upcoming fork?I have download Windows wallet but it is taking ages i been syncing since last one week.i dont think i will able to sync whole blockchain by the fork happens.

2.It says 1 XMR = 10 XMV,but when i have 0.98 XMR will i get 9.80 XMV or should i have one complete XMR?

thanks

Hi guys.

Does anyone know at what block the snapshot will be?

thanks

We will be unlikely to get the tokens if our Monero is on Bittrex, correct? I did read that it needs to be in a wallet, just trying to assess whether I need to move it.

First read this news, this its really fork from Monero ? if really this its official fork from Monero may i know maybe statment from Developer Monero about this Fork its official or not Thanks

No one is compelling anyone for anything. Monero as an open source project can be forked by anyone anytimes. There are no reasons to FUD.
If you don't like MoneroV, don't use it, simple.

Yes, it sure does looks like monero guys are sending heaps of new accounts everywhere.
I wonder if this is actually like shooting themselves in the leg, or worthwhile. 

You target us as Monero users with an airdrop fork that will harm the anonymity of both projects and expect us to welcome you with open arms?    Sorry but I just don't understand your logic.

This is the sort of false logic that everyone should be concerned about. You think I didn't read the ANN entirely because I bring up the fact that you have not released any code? You think the keys are safe despite offering no evidence that they are?

What about the issue with ring signature issue that straight up reveals user's true transaction inputs?

What about the fact that it'll take hundreds of years before XMV hits 256 million coins?

So far, with all the research available, there is no good reason to believe that MoneroV is more secure, nor is it less inflationary for any reasonable amount of time.

Looks like it's ultimately going to damage the Monero network.

Hey guys... I'm a passionate supporter of Sumo (xmr fork as well).

Prepare for some heavy fud from xmr. You will get it...

reserved

I'm actually LOVING the article if you read it through.
Yes, sure it is one-sided and all, and obviously was lacking the full response from xmv's team, but if you read through the interesting parts -

“We believe Monero’s infinite coin supply was a mistake and is a tax in the form of inflation for all XMR holders.
This is a fundamental flaw that MoneroV fixes by putting a cap on the total MoneroV coins that can be created.”


AND

“we are also glad that we had contributed to the future privacy of both coins by helping to reveal an unknown flaw that researchers and cryptographers in the community had missed for years.”


Both lead to the conclusion that the MoneroV team know what they are doing and the Monero guys are being over-defensive about this.
Once this forks happen and hit the exchanges, it will be huge.

I'd be thrilled to see the complete response given to Jamie Holmes who published this.

Hi,

this article describes very well that:

• moneroV is forking in a way that is harmful for privacy, so the dev's claims that they want to further privacy in crypto is a false claim, since they don't seem to care about the fact that the way they implement it is possibly privacy-harmful for BOTH chains
• The 'monero-infinite-supply'-argument is actually a false argument contra monero. In 2021 the tail emission kicks in for monero, that is an inflation of about 0.8% per year, which is perfectly fine and gives incentive to the miners
• The moneroV-devs don't want to answer any questions, don't want to 'fix' things which makes it obvious that for them this is just a total moneygrab

full article and definitely worth a read!
https://bitcoinschannel.com/monerov-a-trap-laid-for-monero-users/

Stay safe out there, noone should ask you to give up your private keys!

best regards,

That's exactly what I think too! Monero is a good buy itself, as it is in my opinion the best privacy coin and at the same time still undervalued.

To avoid any risk just create a seperate wallet solely for the fork, hold your XMR there and after the snapshot move them to another wallet. You'll then only share keys that belong to an empty XMR wallet. It's really that easy and it should be done with any fork.

Scam or not...Monero itself's a good investment.

May as well load up on XMR and;
- take profit it it pumps
- hodl both through the fork and claim XMV if it proves legit
- hodl the XMR long term if it dips

Looks like a win-win-win...no reason not to get/add/hold XMR imo

hubbida, you clearly did not read the ANN thread in its entirety. It clearly states that everything is going to be open sourced and is rolling out on github. No downloadable file or binary is going to be published before then.

The Monero and MoneroV private keys, and by extension the XMR & XMV coins of holders, are completely safe as long as the official MoneroV wallet is being used to claim the MoneroV coins. The wallet source code like everything else will obviously be published and open sourced before it is released in its downloadable form.

Users do not and should not reveal their private keys to a third party at any stage. It is the same method Bitcoin holders used to claim their Bitcoin Cash coins. The official MoneroV wallet, along with all dependencies will be completely open sourced and available for everyone to validate and compile from source.

In addition, your supply of coins argument does not make sense because you did not factor in the percentages and the proportional distribution. In the beginning, every holder receives 10 times the amount in XMV. Because this is an even distribution, the purchasing value stays the same and there is no inflation. Afterwards, the inflation of both coins is exactly the same percentage wise until XMV hits 256 Million (XMR would be at this point 25.6 Million). After that point, MoneroV will stop inflating as it hit the max supply while Monero will keep inflating indefinitely.

 

BEWARE FORKED COINS THAT ASK YOU TO GIVE YOUR PRIVATE KEYS

If you are thinking of partaking in the MoneroV experience, please think twice.

MoneroV developers are not releasing the code to be scrutinized prior to the fork and then asking people to give their private Monero keys to the XMV wallet in order to claim your 10x XMV coins. What this means is that the wallet code could have a backdoor in it that downloads your private keys so they can use them to steal your hard earned XMR. If this isn't true, the devs would release the code long before offering 10x the coins of your XMR. They are giving the illusion that receiving 10 times the XMR in XMV coins is merely an incentive to use the coin, but it's clearly to draw people in to get your private keys.

A private key is a private key. There is no good reason to ever share it with anyone unless you are purposefully selling your wallet for cash or trading it for something else. Your private key is your private key, do not ever give it to a forked coin for any reason.

More info:

Official Monero devs on the issue:
 - https://getmonero.org/2018/02/11/PoW-change-and-key-reuse.html
 - https://www.reddit.com/r/Monero/comments/7x2ymg/announcement_proofofwork_tweak_and_a_note_on_key/

XMV devs reddit damage control:
 - https://www.reddit.com/r/MoneroV/comments/7xv7ij/announcement_the_concern_troll_brigade_submission/

XMV airdrop privacy concerns:
 - https://www.reddit.com/r/MoneroV/comments/7x9mja/monerov_airdrop_automatic/
 - https://www.reddit.com/r/MoneroV/comments/7xkzza/hard_fork_privacy_concern/

You will notice some of those reddit threads raising the privacy issue of the coin are locked, an effort to block open criticism of the coin.



Remember: this coin is NOT open source. There is no code to scrutinize on their official github site: https://github.com/monerov

The finite circulation of coins is bogus as well:  https://www.reddit.com/r/MoneroV/comments/7w4iil/monerov_monero_hard_fork_march_2018_what_you_need/



This means that literally the only reason to move to XMV is to cash in on the 10 XMV coins per XMR. With no code to confirm that back doors do not exist, this is a HIGHLY RISKY FORK.


USER BEWARE!!

You can use https://mymonero.com too, but I haven't used it myself so far. I run the GUI wallet.

Any wallet guaranteed to get/support this other than running a full node?
Don’t have the HD space to dl another whole blockchain.