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?
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.
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.
Chart courtesy of Salim Chauhan via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
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.
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,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…
Is Bex500 an alternative to BitMEX?
EOS now available on eToroX exchange
How Bitcoin Has Changed Online Gaming
Bitcoin2 weeks ago
The advantages of bitcoin sports betting
Featured news2 weeks ago
How Tax Agencies Are Going After Crypto Traders
Bitcoin1 week ago
The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Bitcoin1 week ago
Will Bakkt Push Bitcoin into the Mainstream?
Trade1 week ago
Trusted third parties should issue stablecoins, not Facebook
Trade1 week ago
Not-For-Profit GoodDollar Secures Funding For 2020 As UBI Project Celebrates First Birthday
Featured news1 week ago
Five Strategies for Lowering Your Crypto Taxes
Hot Updates1 week ago
The Best Thing to Share with Your Family on Thanksgiving