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All you need to know about Verge (XVG) is right here

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Verge (XVG) created quite a bit of controversy this Spring as Pornhub announced it would take Verge’s XVG cryptocurrency as a payment method. It’s considered to be a major win for Verge. Laugh if you want but when you get the world’s biggest porn platform business you stand to make a lot of money.

Pornhub is only one among many profitable partnerships Verge has acquired recently and the media and users couldn’t be happier. Verge is not just any crypto coin, it really guarantees true anonymity on every transaction, and it’s on its way to the top of the alt-coin world.

That’s just the beginning. But before we analyze how viable Verge could be, let’s see the way it’s performed so far.

Until May 6th, 2018, the Verge’s XVG was market capitalized at $1,133,972,634 from a circulating supply of 14,965,688,072 at a rate of $0.075772 per token. And then, as the whole crypto market shaken, it is no exception either – the coin stands at $0.05618 per token at the time of press May 12, 2018). Its high point was last December 23 when it was at almost $0.25.

Verge is unabashedly directed at hacktivists. They called their white paper a “Black paper” and they emphasized their Tor wallet for OSX, Linux, Android, and Windows. This tech combines Tor and I2p to anonymize every wallet holder’s IP address.

Their Wraith Protocol writes transactions down to the public (and private) ledger. But even public transactions show only random IP addresses.

So what’s this Pornhub ‘thingy’?

Verge controversial past even includes a name change. Its parent is called Dogecoin. Dogecoin was used as the basis to create another currency, Doigecoindark which became kind of notorious because of its goals about perfect anonymity. This brought a number of accusers (as well as fervent supporters), so in time a rebranding seemed in order and Dogecoindark was renamed Verge in 2016.

Then it caught the interest of MindGeek, Pornhub’s parent firm. The Pornhub network includes Youporn, Redtube, and Brazzers. For them, security is a big deal and they’re willing to spend a pretty dime on it.

Fabian Thylmann‘s net worth (Mindgeek’s CEO) is estimated to be at around three hundred million and chances are you have no idea who he is. That’s because he values anonymity while his business does create a lot of revenue. So however controversial this could be, the ability to be a currency of choice in the adult market (let alone anonymity) is great for any alt-coin, except that Verge already got it.

But the adult market is not the end of the story for Verge. Lots of markets want security and anonymity these days.

On the Verge of Something New

While privacy and anonymity are human rights, they tend to be linked with shady dealings. People say, there’s no reason for anonymity if you have nothing to hide, but would those same people give you their password or pin for their bank account?

Privacy is necessary, of course. Edward Snowden, by revealing NSA spying secrets, showed this to the world as he denounced how bad was the vigilance the US government keeps on its own citizens.

When the Deep Web went for Bitcoin, people assumed it was anonymous. And it is, but not to the same degree as Verge is. Digging deep enough into the Bitcoin ledger could still lead to you if you transacted on it. And it’s a record that will never go away.

Verge is using the MindGeek partnership to grow and get new partnerships. It’s rumored that Spotify is next as well as PayPal and Venmo. The right partnerships bring cryptocurrencies to the real world and make them available to everybody. Verge is on the right track.

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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.

Chart courtesy of Salim Chauhan via Flickr

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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