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After Making a Deal with MindGeek, Verge (XVG) Now Wants Spotify too

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Crypto enthusiasts only had a week to adjust to Verge’s recent victory involving the adoption of cryptos, when Verge (XVG) decided that they are still not done with their business deals. Another collaboration may be entered quite soon.

It has been a week since Verge managed to enter the partnership with MindGeek, which was considered to be one of the greatest victories for cryptos to date. However, this currency is not showing any signs of stopping when it comes to achieving what was seen as nearly impossible only a few years ago. They are now considering making the next historic deal, and this time, the aim is set at the music streaming giant – Spotify.

Verge wants Spotify

Verge core member which is in charge of recruitment and social media, Cees Van Dam, has decided to call out to XVG’s community. Van Dam wanted the VergeFam to add their support to a campaign that has a goal of getting Spotify to adopt cryptos as well.

He posted a tweet in which he asked XVG’s followers to give their thoughts and vote on a new proposal that would demand that Spotify makes a formal evaluation of Verge cryptocurrency. The goal of this act is to determine whether XVG is good enough to be added to this music streaming platform.

The tweet received a lot of support and attention and was retweeted and favorited several hundreds of times.

A Verge volunteer that goes by “Dan” is the one responsible for this suggestion. He pointed out to Spotify that partnership between Verge and MindGeek was a “monumental accomplishment”. He also called the potential partnership with Spotify “a huge business opportunity”.

Another thing that Dan informed Spotify of is the fact that any positive outcome regarding the proposal would be supported by Verge’s enormous community. The community itself is constantly searching the Internet in search of new resources, all for the purpose of letting the consumers take full advantage of every new partnership.

The idea of partnership gains popularity

There is a great chance that Spotify will see the potential that this offer carries. The suggestion proposed by Dan is one of the highest ranking ideas on Spotify’s page called “Top Ideas“. Whether the company chooses to act on this idea or not, they will definitely at least see it.

VergeFam’s members seem to be extremely encouraged by Verge’s recent successes, and it would seem that they have even developed a habit of finding the new potential partners for Verge. Not only that, but the members themselves choose to take the first step when it comes to approaching the companies that might make a good match.

There were many suggestions that appeared recently, and some of the most important ones include Tinder, as well as Stripe. The wish list also treats Netflix as one of the most desired potential partners, but whether one or more of these companies will be interested still remains to be seen.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Jon Åslund via Flickr

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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