Connect with us

Blogs

PornHub Starts Accepting Verge (XVG) for Payments

Published

on

Verge
READ LATER - DOWNLOAD THIS POST AS PDF

On Tuesday, April 17th, possibly the most critical announcement in cryptocurrency history occurred. Major global pornography conglomerate PornHub stated that they will now accept the cryptocurrency Verge as a means of payment. By nearly all financial metrics, this is relatively middle-of-the-road development. The true power behind PornHub’s entry into the cryptocurrency world comes through the proven historic trend of pornography leading the way for technology’s ultimate adoption. if history once more repeats itself, this may be the moment that brought cryptocurrency to a mainstream audience.

As for Verge, the hints of a major announcement caused a spike in price – over 50% in the span of a few days. Any struggles that XVG may have faced in the immediate past are now a distant memory, as Verge becomes an anonymous, secure method of paying for PornHub content. There’s a saying in cryptocurrency investing; “Sell the news”. Proving true once more, the price of Verge tumbled after the official announcement. This is a known trend, and the price of Verge is likely to build in the face of an actual use case.

Technology Follows Pornography

This is not the first time, and unlikely the last, that porn drove a technological trend. Clearly, the average consumer wants to avoid any exposure when purchasing or even accessing pornography. The less interaction necessary to get what they want, the better they will view the business model. This has always held true, going back to the invention of film itself. To this end, adult theaters were always kept in out of the way locations, hidden from prying eyes. Patrons did their very best to avoid being seen in these theaters. The development of videotapes revolutionized pornography viewing, but more importantly, pornography decided the winner of the first format wars.

By all accounts, Betamax videocassettes were the better choice. They offered higher quality video and audio and a more stable image. Furthermore, even their tape players were of higher quality. Yet it was VHS that the pornography industry chose, and the ability to discretely purchase movies for viewing in one’s own home drove the VHS victory in the first format wars. The dawn of the Internet saw hopeful tech enthusiasts pushing lofty goals like better cultural appreciation, global communication, and research partnerships. Yet it wasn’t lofty goals that drew the public eye. Instead, it was porn that brought the average consumer to the web. No longer required to visit any physical location, users could simply buy their porn online. The last vestige of human interaction was cut, and the Internet boomed. The only remaining issues lay in the ability to track the purchase, and cryptocurrency solves this final problem.

Why Verge?

Unsurprisingly, the porn industry chose a cryptocurrency that focuses on privacy and anonymity. To this end, Verge augments their blockchain by integrating TOR and I2P, privacy networks touted for their ability to evade tracking. At no point can the user be identified, and their transactions are completely obscured from blockchain forensics. These facts make Verge unique, while also being the gold standard for pornography transactions. Users can purchase cryptocurrency, discretely trade it for Verge and buy porn without a trace. Their reasoning could be privacy, shame, guilt or even concern over what may show up on their credit card statement. The use of cryptocurrency alleviates all of these worries.

Mindgeek, the parent company of PornHub, is not the only recent partnership for Verge. Mobile gaming corporation MoreFun abandoned their own ICO in favor of integrating XVG. Instead of spending the time to develop their own proprietary blockchain, MoreFun instead plans to use Verge’s cryptocurrency as a means of making micro-transaction purchases within their games. Newcomer TokenPay helped Verge in their crowdfunding prior to the PornHub announcement, and now seem closely linked to the privacy coin. The two coin companies are now working together to produce real-world debit cards.

The Road to Adoption

Of course, adoption continues in other industries. Ripple’s progress with financial institutions brought it to a position in the top three cryptocurrencies by market cap. Legacy banking networks that suffered from slow transaction speeds increasingly look to Ripple to upgrade their systems. Meanwhile, the father of all cryptocurrencies, Bitcoin continues to dominate the real world payment sphere. Everyone is looking to incorporate blockchains, which is an excellent sign for the future of the technology.

We will be updating our subscribers as soon as we know more. For the latest on XVG, sign up for our Telegram!

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 Joel Johnson via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite