Crypto Currency News
Bitcoin
$66,892.24
+444.9
Ethereum
$3,507.61
+16.39
Litecoin
$73.58
+0.56
DigitalCash
$28.08
+0.75
Monero
$163.35
+2.4
Nxt
$0.00
-0
Ethereum Classic
$23.90
+0.45
Dogecoin
$0.14
+0.01

Analysis: What does Microsoft’s acquisition of GitHub mean for Monero?

Microsoft announced this week that it was taking over Github. What does this mean for Monero?

For those who have @ GitHub accounts:

Take part in iFX EXPO Asia and discover your gateway to the Asian markets

If @Microsoft buys GitHub … would you keep using it? Or would you move your repositories to another service?

– Bryan Lunduke (@BryanLunduke) June 2, 2018

background

Github is a web hosting service for computer code. It is the world’s largest source code host because it has features that enable access control and collaboration, as well as free accounts that host open source software projects.

It was founded in February 2008 under the name Logical Awesome LLC. As of July 2010, it hosted 1 million repositories and now it’s 80 million, operated by 27 million reported users.

It houses the code of many major companies, including Microsoft itself. Because of the collaboration on the site, the site acts as a kind of social network where programmers can comment and suggest changes to the work of others.

Microsoft is a computer company founded in the 1970s by Bill Gates, who is now one of the richest men in the world. The company has a market cap of around $ 781 billion and outperformed Alphabet (parent company of Google) last week.

Some notable Microsoft acquisitions include Nokia (2014, $ 7.2 billion), Hotmail (1997, $ 500 million), and LinkedIn (2016, $ 26.2 billion).

GitHub will be one of the more expensive purchases at $ 7.5 billion. The three founders of the coding platform become billionaires. This despite the company’s last value of $ 2 billion (2015) and significant losses since 2016.

Monero (XMR) is an anonymous coin. It maintains the anonymity of its users while continuing to record transactions through obfuscation – that is, confusing digital identities, creating stealth addresses, and hiding transaction amounts. That, and the fact that it can be mined using home computers, has resulted in a market cap of $ 2.6 billion, according to coinmarketcap.com.

Microsoft and Cryptocurrency

Microsoft was originally founded by Gates and Paul Allen for programming by hobbyists. Nadella told Bloomberg, “When you think about what is happening in the world around us, computers become embedded in every place and in every thing. This is affecting our daily lives and economies, from precision agriculture to precision medicine to personalized education and banking-driven software and the world is going digital – and this world is being built by developers. “

In keeping with this philosophy, Microsoft has kept cryptocurrency somewhat up to date. The company has been accepting Bitcoin as a means of payment (for certain things) since 2014 and has partnered with IOTA, a major cryptocurrency aimed at developing the Internet of Things, and has signed various partnerships in which it has entered into Bitcoin with blockchain technology be.

Suggested Articles

Market outlook for the second quarter of 2021 Go to Articles >>

However, some of the mammoth corporation’s actions could worry coins like Monero, which GitHub calls home.

Source: GitHub

Gates has made skeptical comments about Bitcoin in the past. In 2015, he told an Ask Me Anything Reddit session that his charitable foundation is not using Bitcoin because of its volatility and non-refundability. He also mentioned the political complications such as terrorist financing.

Three months ago he doubled this last aspect and, as you know, said in another AMA meeting: “The main characteristic of cryptocurrencies is their anonymity. I don’t think that’s a good thing. Governments’ ability to find money laundering, tax evasion, and terrorist financing is a good thing. Currently, cryptocurrencies are used to buy fentanyl and other drugs. Hence, it is a rare technology that has caused deaths in fairly straightforward ways. I think the speculative wave around ICOs and cryptocurrencies is very risky for those who go long. “

More recently, he has referred to cryptocurrency as a type of investment with a bigger theory because “you’re not producing anything, so don’t expect it to go up.”

Given that attitude, he probably wouldn’t be a fan of Monero, which was implicated in a lot of cryptojacking, after all. Gates has not been the active CEO of Microsoft since 2000, but Microsoft only banned cryptocurrency advertising from its platform last month.

Reddit discussion

Almost immediately, a conversation started over the popular link that had a Reddit talk page asking, “Microsoft is going to buy Github. Do you think Monero should stay or go on Github? “

A member of the XMR core team said it could migrate to GitLab, GitHub’s competitor. “If the development group thinks it makes sense,” Monero added as mirror code on GitLab. And he’s not the only one.

Bleeping Computer reported yesterday that GitLab had seen massive immigration following the announcement of the acquisition.

Source: monitor.gitlab.net

According to the report, this is because many believe there is a questionable story regarding other people’s products.

I think it’s time I publicly shared about how Microsoft stole my code and then spat on it.

I waited for them to do something about it, but that clearly never happens. https://t.co/yCui1neBZz

– Puppies, Dads and Hot Asses (@jamiebuilds) June 1, 2018

On the other hand, Nadella seems to be bringing the company back to its roots (to take a headline from Bloomberg). In the official announcement, he wrote: “Microsoft is a developer-first company. By working with GitHub, we are strengthening our commitment to developer freedom, openness and innovation.”

But in the libertarian world of cryptocurrency enthusiasts, some will never be convinced.

Source: reddit

Comments are closed.