app, apple, bitcoin, crash, delay, hard, xmr, xmv - March 15, 2018

Monero [XMR] crashing the hardest – XMV delay and Apple’s mining app removal the reason

Monero [XMR] has been dipping all week by almost 30% and further by 15.81% in the past 24 hours. It is trading at $209.10 currently while it traded at $343 a week ago.

The most anticipated launch, the fork of this currency, MoneroV was scheduled to release today, March 15th.

According to the announcement made by MoneroV [XMV] a few days ago, the offspring release is delayed by almost 6 weeks. This delay was because of requests from users, trading platforms, and large mining pools. As a consequence and as per the experts’ statements, prices of XMR have dropped by 30% as mentioned earlier. The rescheduled launch date is postponed to April 30th on the block 1564965.

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All the Monero holders will automatically hold MoneroV once it is released officially, the free tokens will be given out at a ratio of 10:1. This could possibly initiate positive growth a few weeks before the release, if not immediately. The delay might have caused declines in the net at present but the technical charts reflect a possible $200 potential bullish reversal point according to the cipher pattern rules.

Taimur, a Twitter user commented:

“Haha, how gullible are you if you believe this? This means that not a single exchange wants to list this scam… so no, there are no exchanges having difficulty setting things up. LMAO… it’s a copy of Monero [XMR], how difficult could it be??”

Another Twitterati says:

“Suspicious, lots of Monero was selling off but before this was tweeted… Definitely a manipulative market, this looks scammy.”

Apple eradicates Monero-Mining App

This action was taken yesterday after it raked in $2000 in three days. The reason behind Apple removing the application from its Mac App Store called Calendar 2 was the ‘high energy consumption’.

The app allowed users to mine Monero in the background which supposedly was a burden on customer’s devices. Calendar 2 was developed by Qbix and was an improved version of Apple’s Calendar app.

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Greg Magarshak, Qbix CEO emailed a statement to Ars Technica that they would remove the mining feature because the code took a long time to work out, and was not power efficient. It rapidly drained the battery, heated the device or unnecessarily strained the resources.

The email contained the following statement:

“Ultimately, even though we technically could have remedied the situation and continued on benefiting from the pretty large income such a miner generates, we took the above as a sign that we should get out of the “mining business” before we get sucked into the Proof of Work morass of incentives.”