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Why Verge (XVG) Should Still Be On Your Crypto Investment Radar

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The Verge (XVG) protocol has been hacked twice with the hackers managing to mint XVG from thin air. There has been a public outcry even after the recent software patch of the latest hack was announced via Twitter. The XVG team member in charge of marketing and operations, Kriss Chase, made the announcement on his Twitter page as follows:

“A patch has been deployed on Github (10 hours ago). Update has been successfully pushed to [GitHub]. Please keep in mind process to reactivating exchanges etc. may still take some time.”

The response was positive from the Verge family in terms of the XVG development team working fast to resolve the issues. However, concerns still linger as to whether the new patch would be sufficient to sort out the timestamp issue that had led to a rogue miner ‘back-dating’ the timing on blocks to fool the mining protocol.

These are genuine concerns, but there is no software project that has not had teething problems. The Mac, PC, Android Phone or iPhone you are using, has had its rough days in terms of having a functional operating system that still has vulnerabilities that are yet to be discovered. All it takes is some rogue hacker to put some time in it and find such a vulnerability.

Therefore, XVG should still be in your Crypto Investment Radar.

As a matter of fact, this is the best time to buy some XVG in bulk as everyone heads to the hills by cashing out their XVG vault of coins.

Current market analysis indicates that the coin has dropped to the number 32 slot according to coinmarketcap.com. XVG is currently trading at under 5 cents and down 2.29% in 24 hours. The current general market decline is also to blame for the dip in the value of not only XVG to current levels of $0.0414 but the entire crypto-market that has seen BTC go below the $7,500 mark.

One thing to look forward to and with respect to XVG is the anticipated collaboration with TokenPay (TPAY). Both these projects have been collaborating on a lot lately. They have jointly organized a meetup in Amsterdam this June and will be listed together on the same day on a new exchange that is in its ICO phase called CurrenX. Another rumor that might materialize, is the XVG debit cards supported by TokenPay.

Therefore, and in conclusion, XVG still has some promise once the coin and project work past the current FUD that is the hack of its protocol. Meanwhile, if you are a shrewd investor, it might be time to buy in during the proverbial dip experienced by XVG.

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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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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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