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What Ever Happened to Verge (XVG)? Is Verge Poised for Gains in 2019, Or Is It Dead in the Water?

Back in April 2018, Verge (XVG) revealed a mysterious partnership that was expected to bring the coin to the new heights. The partnership, as we know now, was with adult entertainment website, Pornhub. However, it would seem that the XVG Pornhub partnership was not enough to save Verge from sinking. Verge goes down despite XVG Pornhub […]

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What Happened to Verge (XVG) Coin?

Back in April 2018, Verge (XVG) revealed a mysterious partnership that was expected to bring the coin to the new heights. The partnership, as we know now, was with adult entertainment website, Pornhub. However, it would seem that the XVG Pornhub partnership was not enough to save Verge from sinking.

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Verge goes down despite XVG Pornhub partnership

The partnership between Verge and adult entertainment giant came as a big surprise for the XVG community. Pornhub was even commended by many for trusting in cryptos and introducing them as a payment option. Even the media was excited, calling this the biggest partnership in the history of cryptos. In fact, many believed that this will lead to a mass crypto adoption and that it will even change the stance toward the digital currencies, in general.

For a time, this seemed to be true, as the price of Verge skyrocketed once the partnership was first revealed, back in April. However, the price surge did not last for long, and XVG-Pornhub partnership ended up being only a temporary boost for Verge.

The reasons behind the doom of Verge are no secret. Not only has the entire year been a disaster on the crypto front, but the coin even got hacked via a 51% attack. The attack affected over 35 million coins in around 5 hours, which has left deep scars on Verge.

Soon enough, the coin started dropping, and over the course of a few months, it landed at the 39th place on CoinMarketCap’s list. Naturally, its price went down as well, and the coin is currently valued at $0.00429988 with a 24-hour trading volume of $988,415.

Pornhub decides that going crypto is the right choice

Pornhub, on the other hand, realized that going crypto was a good call. However, choosing Verge probably was not. Because of that, the website quickly became interested in other coins, like VIT (Vice Industry Token), ZenCashand TRON (TRX). Soon after that, they also entered into a partnership with PumaPay in order to make crypto payments more easier for consumers.

While great for the crypto world, the new partnership also affected Verge in a negative way, as the coin was no longer the only crypto on Pornhub. With everything that happened up to that point, Verge continued to drop until it reached the position it holds today. Obviously, Pornhub wasn’t interested in saving Verge. Even so, the coin tried entering new partnerships after XVG Pornhub deal backfired, but it did not help much, as we can see today.

In the end, many believe that Pornhub just used XVG, especially since it benefited from this partnership more than the crypto has. In the meantime, the crypto market continued to be unfriendly all the way until a short break in August, which also wasn’t too good for XVG. Whether the coin can make a comeback or not is anyone’s guess. As for the crypto community, the fall of any coin is a tragedy, but many hope that Verge will eventually find its way back.

Read more at http://globalcoinreport.com/xvg-pornhub-partnership-save-verge/

Will Verge XVG Ever Make A Comeback?

Verge is slowly gearing itself for a price recovery as the sentiment in the market has been slightly changing. The bears are still around, and there are continual price variations. The price variations for XVG coin over the past five days were in the range of $0.0047 – $0.0056.

Current Statistics of Verge:

As of August 24, 2019, current statistics are as follows:

  • Verge price is trading at $0.0051740
  • The Market Cap is around $81,228,071
  • 24 h volume is at $966,074
  • ROI is at a gigantic > 9000 %
  • Circulating supply is at a whopping 15,895,351,339 XVG

XVG to USD Price Comparison:

Verge Price Prediction
Verge Price Chart by TradingView

Verge price has been trying to recover as can be seen from the five-day price chart. From a high of $0.005628 on Aug 19, the price of XVG coin went down to $0.00490081 on Aug 20 to the tune of 12.93%. Verge price had a surge when it went up on the same day to $0.00557750 to the extent of 14.04%. Then, there was a drop when the XVG price went down to $0.004724 on Aug 22 to the extent of 15.29%. On Aug 23, Verge price has risen to $0.00530173 to the extent of 12.21%. Today, XVG price has marginally lowered to $0.00517400.

Verge Optimist Price Prediction & Conclusion:

XVG coin could set itself for another uptrend by the year-end as the bulls are trying hard to gain entry and work towards stabilizing the prices of altcoins including Verge. Long-term investors can wait for the tide to change and hold on to their investments as Verge shows some promise which could deliver in the long run. Short-term investors may not gain much in the current volatility.

Verge Reality Check Price Prediction & Conclusion:

Verge

Verge is/was a privacy coin which relied not on enhancing actual privacy at the blockchain level but rather by bolting Tor on to Bitcoin. It was heavily shilled on Twitter and Reddit last year, but the #VergeFam has gone quiet recently. Development and social media activity all but ceased when Verge was repeatedly 51% attacked earlier this year. The culprit was its unnecessarily complex five hash function Proof-of-Work algorithm, which led to it being much, much easier to exploit.

These weren’t small attacks either:

Development may be happening, but it doesn’t look lively at all.

📉 Price change: $0.16 ➡️ ️️$0.00706

✅ Drawdown: 95.2%

❌ Developer status: active

⚠️ Notable event: Verge was 51% attacked into oblivion.

‍ ⚖ ‍Verdict: Verge was exploited on multiple occasions, with the developers unable to steel the protocol against those attacks. The future does not look bright for this pseudo privacycoin.

Our Verdict

Hate to say it, hope that we’re wrong.. but promising project with ample opportunity, that fails. Verge XVG will be a distant memory by the end 2020. Stick a fork in this one, it’s done.

1 / 5 ( 1 vote )

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Blockchain

Indian Olympic Medal Winners to Get Free Bitcoin (BTC) and Ethereum (ETH)

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The cryptocurrency platform Bitbns intends to open a systematic investment plan (SIP) in digital assets for Indian athletes who win medals at the ongoing Tokyo Olympics. The exchange will reportedly grant around $2,700 in crypto for gold medal winners.

‘Faster, Higher, Stronger’ And Earn Crypto

The Economic Times reported that Indian athletes at the Olympic Games could receive cryptocurrencies as a gift if they manage to win a medal at the tournament in Tokyo.

The trading venue that will reportedly provide the offer is Bitbns. The first athletes that can get cryptocurrency exposure for free are the winners Mirabai Chanu and PV Sindhu. The former won a silver medal in 49 kg women’s weightlifting while the latter acquired bronze in the women’s singles badminton at the Tokyo Olympics.

Bitbns plans to roll out a SIP account and grant nearly $2,700 in digital assets for Olympic champions, $1,350 for silver medal winners, and $675 for bronze medalists. It will transfer the amount into their accounts, and after completing the Know Your Customer (KYC) norms, the athletes will have exposure to cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

The trading venue explained that it would structure the SIP for a 3-5 year period, and thus the medal winners will be able to generate profits in the long term through Bitbns. Gaurav Dahake – the Chief Executive Officer at the platform – noted:


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“Bitcoin and Ethereum have been the best-performing assets in the last decade, and have given exceptional returns and we aim to get our winners indulge in this rewarding journey.”

Indians Love Cryptocurrencies

According to a recent research, Indian residents increased their digital asset investments from $200 million in 2020 to $40 billion for the first six months of this year, indicating that their appetite for cryptocurrencies surged significantly.

What is even more impressive is that Indians, who are well-known gold admirers, started switching their investment strategies from the precious metal to virtual currencies. A local investor explained:

“I would rather put my money in crypto than gold. Crypto is more transparent than gold or assets and yields higher returns in a shorter period of time.”

The survey added that the number of people who trade cryptocurrencies in India is 15 million. It significantly surpasses a well-developed country such as the UK, for example, where 2.3 million individuals have entered the market. Sandeep Goenka – the co-founder of the platform ZebPay – revealed the reasons why the second-most populated country saw this massive increase:

“They find it easier to invest in crypto than gold because the process is so much simpler. You go online, you can buy crypto, you don’t have to verify it, unlike gold.”

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Source: https://cryptopotato.com/indian-olympic-medal-winners-to-get-free-bitcoin-btc-and-ethereum-eth/

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Coinbase halts Bitcoin SV trading after yet another 51% attack

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Bitcoin SV is in trouble once again after Coinbase announced that it will be halting BSV trading on the platform. This update came on the back of a string of attacks the network has been facing since late June. As per the announcement made by the exchange,

“Due to the 51% attack that has occurred on BSV today we are stopping all BSV trading.”

Bitcoin SV was the target of a massive 51% attack early on Tuesday, an attack which was called “the largest since launch” by Blockchair developer Nikita Zhavoronkov. He further claimed on Twitter that the reorganization was 100 blocks deep and wiped out 570k transactions.

The attack was first brought to the community’s notice by CoinMetrics’ Lucas Nuzzi. Arguing that “some serious hashing power” was unleashed on the network early on Tuesday, he revealed that up to three versions of the chain were being mined simultaneously across pools.

Coinmetrics later confirmed that the firm’s own blockchain security monitoring tool FARUM identified the attack.

The Bitcoin Association also confirmed the incident on Twitter, recommending node operators to mark the fraudulent chain as invalid. It’s worth noting, however, that at the time of writing, the Association had released yet another statement on the same.

It said,

“…. believes that this is the same attacker that previously initiated block re-organisation attacks against the BSV network on June 24 and July 1, 6 & 9, 2021.”

Coinbase’s action made waves in the community. However, such steps are perhaps routine for the network now. In the past, BSV has been dropped by top exchanges like Gemini and Binance. It also saw several exchanges block withdrawals and deposits for the asset as liquidity providers suspended access to the token’s liquidity. This was preceded by more attacks in the last week of June and the first week of July.

As far as Coinbase is concerned, the exchange is yet to reveal when it might restart trading services for Bitcoin SV. With many in the community at sixes and sevens, it’s unlikely it’s going to be anytime soon.

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Source: https://ambcrypto.com/coinbase-halts-bitcoin-sv-trading-after-yet-another-51-attack

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Looking To Pull An El Salvador, Spain Considers Bill To Allow Mortgage Payments In Crypto

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Looking To Pull An El Salvador, Spain Considers Bill To Allow Mortgage Payments In Crypto

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Cryptocurrency and blockchain are becoming quite mainstream as of this year and it’s likely that just about any financial transaction will be able to be completed via the use of crypto in the next few years. Of course, there are bodies pushing against the integration given the lack of regulations and the fact that it could help finance illicit acts.

However, the crypto wave is continuing to grow despite all of the recent adversity. And, according to Spanish paper 20 Minutos, Spain could begin to allow persons to pay their mortgages with crypto pretty soon.

The publication reports that Spanish lawmakers are perusing a proposal that would see to the above. The Digital transformation Law, as it’s called, would make it so that crypto and blockchain become legitimized, while tax incentives are being considered for institutions keen on working under the artificial intelligence umbrella, which would include blockchain tech.

Spain’s incumbent People’s Party is intent on having the country’s banking infrastructure catch up to the times in terms of tech and will promote the use of digital currencies, as well as various other transformative technologies. The proposal suggests that the country’s whole mortgage system should undergo reform, in addition to having crypto payments possible.

El Salvador Took The Lead

This comes on the back of El Salvador’s move to accept bitcoin as legal tender. The Central American nation is very pro-crypto in such regard and it appears they have set the stage for other countries to naturalize digital assets, so to speak.

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Where Spain is concerned, the current proposal advises that banks use blockchain as a means of operating the mortgage system while making use of smart contracts for insurance.

“Introduction into the mortgage system – it also proposes that banks use Blockchain technology to manage mortgages, insurance and speed up compensation – it proposes to extend it to insurance policies, with ‘smart contracts’ with conditions depending on the procedures to be followed, the verification processes and potential incidents.“

El Salvador making bitcoin legal tender was a huge move and we aren’t yet to see the full scope, although the country’s population stands at just 6.5 million so they aren’t expected to have that great of an impact on a worldwide scale. Spain is a different case, however.

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Source: https://zycrypto.com/looking-to-pull-an-el-salvador-spain-considers-bill-to-allow-mortgage-payments-in-crypto/

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