The crypto currency Verge (XVG) announced a partnership with the pornography website Pornhub on April 17. In response to the announcement, the Verge course made a head jump. Here are some thoughts.
At the end of March, the Verge project launched a crowdfunding round for a secret partnership. As a result, a good 75 million XVGs were donated by the community. At the time, this corresponded to a value of over one million US dollars. Two weeks later, after several announcements of the announcement, the official statement: Pornhub now accepts Verge as a means of payment for merchandise, video-on-demand and streaming services.
The Foreplay of the Bitcoin loophole
Verge has already attracted attention in the past through its marketing efforts. John McAfee first put Verge on the radar of the Bitcoin loophole community. The advantage of Verge is the privacy offered in combination with a low market capital – that’s what the profits call! Nevertheless Verge had to defy attacks from different sides again and again. Screenshots of McAfee showing up, trying to blackmail a prominent Verge whale with slander. Then the Bitcoin loophole protocol update came late. Last but not least, voices were raised that Verge could not keep his promise of privacy.
In Verge’s well-known manner, the community hyped the announcement so much that on April 17th, everyone looked spellbound at their computers as Verge lifted the curtain. The telegram groups didn’t have a second’s rest – images of lambos and moons as far as the finger can scroll. Then the news: A partnership with Pornhub.
The Verge course makes you tired
The anticipation, which was also reflected in the share price, could not be maintained. As soon as the news was spread throughout the world, the Verge course began to fall. The Verge exchange rate fell from almost 12 US dollar cents to just under 8 US dollar cents. Just 4 cents difference – is that serious? Well, because there is a good 14 billion XVG in circulation, these 4 cents mean a value of a good 700 million dollars.
This reaction seems as if the market would not approve of the partnership. Many would have preferred PayPal as a partner. But the speculations before the announcement were so wild that a disappointment was inevitable.
Full body analysis: Verge
The crypto currency looks dubious: Copying code from another project, not keeping to deadlines, begging the community for money, a 51% attack, internal pump & dump agreements. But worst of all is the promise of privacy that Verge doesn’t keep. Transactions in Verge are not anonymous, and if you really want to hide your porn expenses from your partner (or government), you should look for alternatives.
If you deal with the community, you will notice that little value is placed on a technological basis. The focus is on the potential profit from the rise in the share price. Any stirrup holder is right for this increase. It should not be forgotten that Verge PornHub ultimately paid money for this partnership.
Time will tell whether the partnership between Verge and Pornhub will bear lasting fruit.