Connect with us

Blogs

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

Published

on

Tron Verge
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join 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 Maxpixel.net

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

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

Elite