MoneroV is very much like Monero as a secure, private cryptocurrency but with two major differences. The first is that it has a number of total coins and that the developers actively discourage botnets and cryptojacking from mining. This in turn should increase the value of MoneroV as mining difficulty increase through time. Because these differences are so small, the announcement is met with skepticism and controversy.
The major controversy surrounding MoneroV is twofold.
- It could possibly be a scam by means of finding foolish individuals to give away their private keys to their account OR
- It could be a 51% attack in an attempt to gain the majority of the network mining power, thus dictating who have the "correct" block chain.
The hard fork is scheduled to be on the 30th April 2018 where 1 XMR = 10 XMV. Subsequently, the total cap is at 256 million with 158 million in circulation at the time of fork. This means 61% of the total coins are already in circulation. So how this fork does encourages fair distribution or is it a thing to do to hoard wealth? Because if it is to hoard...
Baikal and Bitmain Antminer are ASIC manufacturers that have recently begun taking pre-orders for their new cryptonight ASIC miners. Their hash rates are 10x to 100x better than the best GPU mining rigs available meaning if left unchecked, the same story of ASIC's destroying distributed mining will happen again. However, Monero's developers are actively following this and will implement hard forks to prevent it from being ASIC minable.
In response, Antminer have stated that no refunds are given to those who preorder their ASIC with the pretense of mining Monero. But these ASIC's can in theory also mine other cryptonight coins like MoneroV, Bytecoin, AEON and others. While the algorithm do have a wide selection of coins, their poor value and varying level of support means that those who don't adapt could be mined out or get completely left behind.
