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Verge is attacked for the third time: here is why you should not panic

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Verge
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It has barely been a week since Verge was in the headlines with concerns about an attack on its network. Just recently news reports indicated that the privacy-centric cryptocurrency has been attacked for the third time leading to growing concerns by the Verge community over the future of the coin. Verge XVG has been in the headlines lately especially after a post on BitcoinTalk by a user named ‘Ocminer’ claimed to reveal data that showed a 51 percent attack on the Verge network. The claims were confirmed by a post on twitter from @Vergecurrency that acknowledged a DDoS attack on some mining pools.

Are the attack claims Fake news?

With the recent news circulating about Verge’s third attack, the crypto community has become concerned with a series of altcoins being questioned for their level of security as well. Some of the responses on most online forums included users on Reddit who were astonished by the turn of events some even calling it a joke and fake news.

In response, the Verge team has retweeted a post on twitter from Kris Chase (who is the marketing and operations head at verge), in which he mentioned that Verge was building a new codebase that will soon be implemented. He also mentioned that the company is working on other technological developments that will benefit the platform’s security. He finished his post saying,

Let’s get back to work while the haters keep spreading #fakenews.

Apart from that, the verge team has also received mixed reactions from the community with some encouraging the team to keep working on the platform and make it more secure while others criticized the team for allowing the attack to happen for the third time. However, the big question has been whether Verge network is truly under attack or are these reports merely fake news being spread to hurt the value of XVG.

Verge coin moving forward

All in all, the stories about an attack on Verge’s network for the third time are not confirmed and however they turn out to be, it’s pretty clear that Verge is making progress amidst the turbulence. As it is Verge has recently been listed as the only cryptocurrency payment option on MyFitStuff.

For the uninitiated, MyFitStuff is an e-commerce shopping platform that only focuses on selling merchandise in the fitness industry. The platform is now set up to accept Verge XVG as payment on their Los Angeles based online shops. This adds up to other partnerships that Verge has been working on over the past few months posing a positive picture for the privacy-centric coin.

In the long run, there is no coin that is perfect, and even though the XVG network has been under problems in terms of network attacks and security, its core team is made of individuals with a proven purpose and vision. You just might want to hold on to it for a while till everything is clear.

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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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Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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