Connect with us

Blogs

Verge (XVG) sinks, and even Pornhub can’t come to the rescue

Published

on

Verge XVG
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrencies have already proved themselves as profitable ventures with more and more of them emerging while many companies continue to show interest in using them.

Some companies have even gone further to launching their digital coins that have navigated the waters to advance and become relevant. However, many emerging cryptocurrencies fail to consider one crucial fact adequately, and that is network security.

Blockchain Safety

Many people will agree to the fact that they have heard news of blockchains being secure and transparent mediums of transacting. However, this might not be entirely true to all blockchain technologies; blockchain is still a relatively new technology, and in its initial stages that require a lot of further enhancement and development, especially in the area of security.

Because blockchains are the platforms that are holding virtual currencies that are in demand in the current time, makes them a bigger target to hacks and bug attacks. The legal repercussions associated with hacking or attacking a blockchain are quite high and severe, but if successfully done, the attack is likely to bring huge rewards to the hackers.

The Problem with Verge (XVG)

Late last month, Verge suffered yet another 51% attack that affected about 35 million XVG digital coins in less than five hours. This was shortly followed by a 14% Verge’s XVG price decline in the time duration of 24 hours. The recent attack is not doing any justice to the privacy coin, Verge (XVG), denting their credibility and image as a viable cryptocurrency.

In April, an unknown hacker managed to gain entry to the network minting XVG coins while blocking other users, at the time, from making any transactions. Other attacks have followed since them, and they are severely affecting the prices of XVG.

Now trading at $0.038 and assuming a market cap of roughly $580 million, the position thirty-four as per Coinmarketcap virtual currency is significantly falling in value, and the end doesn’t seem to be near. The general perception by many now is, Verge (XVG) is not a secure platform.

Pornhub and Verge Relationship

When Verge (XVG) announced their partnership with MindGeek and Pornhub, the entire cryptocurrency community was left tongues wagging. The media referred to it as the “biggest partnership” in the history of virtual currencies. Many commended Pornhub for trusting cryptocurrency as a payment option although the decision to settle with Verge was highly disputed.

The partnership entailed allowing consumers of explicit content to pay for premium services in Verge while allowing performers the chance to be reimbursed in XVG. The partnership was catching momentum, but a change of tune is currently being witnessed.

According to a recent release by Anna Lee, the pioneer of Virtual Reality Porn, the adult site is experimenting with Vice Industry Token (VIT). She went to her twitter page to announce the “casting call” the website’s initial annual Pornhub Games, hosted by Asa Akira that promises to pay the top three performers $10,000 equivalent of VIT.

Although the new partnership between VIT and Pornhub is not officially announced yet, the rumor mill has it that VIT will be the elite sponsor of this years Pornhub awards. The virtual currency is quickly making a name for itself in the industry.

And clearly, this all shows that even Pornhub is not interesting in rescuing Verge while it depreciates. But of course, I, as a crypto enthusiast would not want to see any coin on the market fail, including Verge. Let’s see how it goes.

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 Pxhere.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

Continue Reading

Elite