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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

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

Elite