My Opinion on Monero Forks

mawit07(77)

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Cryptocurrency forks has become the norm. Yesterday Monero successfully forked into several versions, a total of (5) five different Monero cryptocurrency.

Monero Classic (XMC)

Monero-Classic (XMC)

Monero 0 (XMZ)

Monero Original (XMO)

MoneroC

Now what I will be wondering is how the prices of each of these versions of Moneero will become in the near future. Educated guess is the coin that is venerable to ASIC mining would likely decrease in price while updated versions that are immune to ASIC mining will rise to where original Monero price was.

To long term holders of Monero this is basically a stock split. They will be earning additional free coins just for holding Monero.

Minergate has currently Monero and Monero Original available to mine. By default after the fork it seems Minergate has miners hashrates automatically mining Monero Original. Currently the overall mining hashrates are lower due to the several choices miners have in mining the different Monero.

Since I firsts looked at mining Monero around the later part of 2017 up to present the mining rate of return for Monero has drop a lot. I have approximately earning 1/10th of what I was earning when I first started. Yes difficulty has risen a lot more since then, likely do to ASIC mining Monero prior to the forks.

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