Crypto News February 23rd, 2018

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I am the creator and moderator of the Crypto_Currency_News subreddit. Each day I invite the world to post links to their favorite Bitcoin and crypto related articles. Here I plan to give my thoughts on popular articles I have opinions on.

Today’s article is Why I Support MoneroV as a Crypto-Dividend.

For anyone who does not know, There is a fork planned for the Monero Blockchain called MoneroV. The airdrop for XMR holders at the time of the fork will be 10x MoneroV coins for each Monero coin.

I just wanted to relay a few brief thoughts not necessarily related to this specific fork, but Digital Currency forks in general. I am not a huge fan of Monero and do not own any because I have seen the face of Monero, and it is just not for me. I do own other privacy coins.

I think there are two factions in the crypto world. The first thinks innovation should be profited from… their view is if a new innovation comes out for a currency, that currency should profit from it, and should not share it.

The second faction, which I am a member of, believes technology advancements should be shared by all. By making source code open-sourced, anyone can copy and implement it for their own uses. This has been a basic idea behind most digital currency code until recently when the technology suddenly became extremely valuable. The greed versus good battle is becoming more prevalent and people are holding back their innovations.

What I find hard to believe is how every time one of these forks happen, whether for BTC, LTC, XMR or any other currency, people get so upset about it.

Look, if you are running a project and putting your hard work out there for others to see, and you are going to be angry if someone takes it and makes a copy, then don’t put it out there. Hide it away and patent it. If you are in the Monero community, and you are mad at MoneroV, don’t go to the MoneroV boards and scream about it… go to FluffyPony and complain to him for making the code available.

Nobody on MoneroV’s project team stole the code or is doing anything illegal to get it. They think they can create a better version of Monero… and if they succeed everyone should be thrilled. If they don’t succeed, oh well. One thing is certain, there will be another fork at some point in the future by someone else who thinks they can do better as long as the source code and blockchain are available.

If you hold XMR, you get MoneroV when it comes out. If you want to send it to someone who will appreciate it after it is distributed, I will be happy to give you an address to send it to. Just contact me at MicroCapCrypto@Protonmail.com.