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Tron (TRX) should not shoot itself in the foot too often as Verge did

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Tron Verge
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If you’re a cryptocurrency aficionado, you have probably seen plenty of news about Verge (XVG) over the last few months. Some of those have been pretty bad and while the maxim goes “there is no such thing as bad publicity” Verge’s deeds and performance seem to be the exception to the rule.

Let’s quickly review the most recent things that have put Verge in the limelight and why they’ve not been so great.
First of all, a few weeks ago, Verge’s leadership made a lot of hype around the announcement of a new partnership. Then Porhub turned out to be the partner in question. 

It didn’t go down very well anywhere in the crypto community. Getting involved in porn was always going to be a controversial move, for a start. And then all that previous hype created disappointment as observers were asking the question “all this because of a porn site? Really?”.

Don’t get me wrong, the Pornhub partnership was and will remain a very savvy business move, but its implementation was so clumsy that all the advantages it should have had regarding coin performance and rising price have been hampered because of the controversy. But this is peanuts. The enormous amount of new users Verge is acquiring through Pornhub, along with the demand it creates for the asset, will end up boosting the coin’s value, long as it may take.

The other main problem with Verge is way more severe and, unlike the Pornhub vs. performance issue, really endangers the whole project and it won’t just go away on itself. Verge has been hacked three different times over the last three months. That’s not the worse thing.

The worse thing is this: the very same attack was used all three times to create Verge tokens outside of the blockchain successfully. And not only the same kind of attack but almost the same type of procedure every single time.

There are two reasons for which the news about the hacks is so terrible.

Firstly, the whole point in the Verge project is supposed to be in the creation of a cryptocurrency that privileges the security, anonymity, privacy, and reliability as the project’s core values. Getting hacked three times in the very same way undermines the project credibility seriously.

Secondly, the fact that it happened three times in three months suggests that the project’s leaders and developers are doing nothing to fix the issue.

All the issues mentioned above have prevented Verge’s rise in price and even made it drop at times.

How on Earth is this related to Tron, I hear you ask. Fair question. Let’s talk about hype first. Justin Sun (who is never afraid to create lots of hype when every new Tron’s milestone comes close) announced a fortnight ago the publishing of secret new project by the end of the current month.

Because of Jack Ma’s and Justin Sun’s close friendship, one of the speculations in this regard is a partnership between Tron and Alibaba. That would indeed be huge. 

On the other hand, if Tron pulls a Verge and announces something that the community deems to be disappointing, that will hurt both Sun’s credibility and Tron’s TRX price.

If such disappointment would drive Tron’s price even lower it would be pure hell for them since the current bearish trend in the market is already hitting them.

The eternal problem with markets is the conflict between long-term and short-term value. A company or product that gets its fundamentals right and has real-life usefulness and value will always end up producing wealth.

It’s called competitive advantage. But in the short term, it’s all about fears, rumors, expectations, irrationality and other factors that have little to do the company or the product itself and everything to do with the market itself. That is why an to overhype could be so dangerous for Tron.

All that being said, if a general disappointment does happen, it could just be an excellent opportunity for rational investors as well. Tron’s fundamentals are such that they make it one of the most solid projects in the cryptosphere. It’s both a foundation and a cryptocurrency with a clear purpose, the ambition and the resources to make things happen so we think that even if it could have some hiccups at some point, its long-term high value is one of the better bets you will find among all digital assets.

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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.

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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