Verge vs Monero The ULTIMATE Showdown!! Who Will Win the Darknet Contract?

roadsuntraveled (65)in #altcoin • 7 years ago (edited)

The Verge coin has been under the radar and overall pretty invisible to the average everyday investor since it was founded. When first released back in 2014 the coin went by the name DogeCoinDark, but this was eventually abandoned in 2016 when they re-branded it to Verge. Besides this it seems like the creators have put very little effort and resources into advertising and marketing their coin, especially considering it has been around for a number of years.

That being said though, this coin has recently made a pretty big splash in cryptocurrency news recently, with media organisations such as Forbes releasing headlines like "Verge (XVG) Price Climbs 800% In A Week".
Verge is know for its ultra fast transaction speed, completely anonymous design and uses networks such as Tor and I2P while hiding the users IP address making them untraceable. Now these key features are very interesting and desired by pretty much all cryptocurrency traders, but the main beneficiaries of these features will be the darknet marketplace.

Regardless of where you stand on the ethical dilemma of the darknet, with massive online eCommerce sites selling everything under the sun from drugs to guns, there is absolutely no question that they hold a massive amount of power based on which coin they decide to adopt and use as their predominant payment method. Bitcoin has always been associated with criminal activity being used as a payment method for illegal products and services, but as the years went on it became very clear that Bitcoin is far from anonymous. Now of course it is more private than sending a Paypal request but it was still far from perfect in terms of security.

At this point, desperate to find a safer option to address the privacy concerns, Monero entered the scene as a more secure option for transactions. As you can see in the rough chart below, the impact was noticeable.

By just looking at the success of Monero clearly there is a booming underground business network with enough illegal transactions that it can take a coin worth pennies and bring it up to the $400 mark just like Monero today. Now of course all that movement is not solely based on criminal enterprises, but it definitely had a significant impact on the coins success.

So the question comes down to, does Verge have what it takes to replace Monero?

Personally, I think there are some real respectable features that Verge offers regardless of who you are and what business you are in. With average transaction confirmation times of ~5 seconds I think that this alone could cause Verge to blow up, but we will have to see how it handles the massive increase in traffic. Whether or not you think this will be a coin of the future, the amount of publicity Verge has received over the last few days after jumping from $0.001 to $0.16 may be enough to get it off the ground. I think more than anything else, this is very exciting opportunity for investors. With the amount of potential this coin has along with the current publicity, it might be worth throwing down a few dollars to see what happens.

Let me know your thoughts on Verge, do you think it stands a chance in replacing Monero?

Thanks for reading.

Check out my recent post on Steemit's upvote system here:
Do Not Abuse the UpVote!! | What Happens and What to do if Overused?

Sincerely,
Grayson

#ico #crypto-news #upvote #cryptocurrency

7 years ago in #altcoin by roadsuntraveled (65)

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allowisticartist (57) 7 years ago

Ah @roadsuntraveled I see you are taking a look at the blockchain less traveled as well. Very good observation, all coins need a network effect to take off. It is interesting to think of what a market it and what people buy. The one thing that is very cool about crypto is all you have to do is get someone to download a wallet and now they can accept crypto. Funny how we talk about wanting privacy and here we are on steem saying hey look at me vote for me send me a transaction so everyone can see what I have.... total opposite of the darknet. I am just happy to see so many oprotunities showing up in cool ideas that morph from other cool ideas. I was there when dogecoin first started and had my macbook pro mining it and gave my friends all wallets and we used it to play poker with. It is interesting that someone can take that coin forked it off and make a new coin then rebrand it and give it an idea and boom she goes boom or pop. Cool to see you posting outside of the car world. Thanks Grayson

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roadsuntraveled (65) 7 years ago (edited)

Thank you for the response, cryptocurrency is a long was from the automotive world for sure but I have fallen in love with the technology. Above and beyond currency itself the limits and possibilities that the block chain has to offer is incredible and in my opinion it will change the world as we know it. Take a look at Siacoin for example or even Steemit. These creations take the power away from massive corporations and give control back to the content creators, making the internet far more democratic.

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allowisticartist (57) 7 years ago

@roadsuntraveled I just realized your name also spells Road Sun Traveled... This is cool as I am building a solar Mining farm. I live in New Mexico and we have 350 days of sun here... I am also working on a solar micro mobile studio, As an artist I have so many creative on how to use our energy more wisely. Blockchain is out of the box and there is no stopping it. I started mining dogecoin back when it first came out like day one or two... I was new to reddit at the time and was learning about bitcoin this was back in 2011 2012 when ever it was that dogecoin came out... any who... I digress... I mined dogecoin because it was fun and gave me some coin I just played with it gave it to my friends and we used it to play poker and bet each other with... we all lost our wallets over time as the price was so cheap it did not really matter. Dogecoin was born out of a MEME to make light of bitcoin to play with the tech with out being so serious about it... This was fun and I was there to see the Jamacian bobsled team get sponsored with dogecoin. Well then some guys thought hey this is a good idea and made a fork of dogecoin and called it dogecoin dark... they later went on and added more security an more layers of privacy and re-branded dogecoin dark as Verge coin... Dogecoin is still a meme in the crypto world and verge is starting to take off because of the idea behind what is basically the same tech. This effect of forking off good ideas and building a new community around it is going to continue to happen starting really big this next year and then add into the mix the SMT smart media token built on STEEM blockchain and add in EOS the opperating system of the next generation of the same concepts that @dan built steem with only adding the ablility to scale wide and to do the proccessing of Dapps needs and then only using the chain to record the result is going to allow millions of new coins and Every type of DAPP to run everything can run on it that needs security think of it as the next gen of the web now with security. Steem can run on EOS as just another dapp. The explosion of growth is yet to begin. What we saw in 2017 is like a burn out before you take off and run the 1/4 mile. We are just now staging and the christmas tree is not even lit yet.... There are currently more people with out access to financial services than there are currently using the services. When this next wave hits we are going to see abundance the likes most of us have little awareness is even possible. So Yes I agree Distributed Ledger Tech ie Blockchain is a new model that changed the world as we knew it... the next 5 years will make the last 20 years of the internet look slow in comparison it is like in one lane you have a snail and your are drag racing against a top fuel dragster... the snail is our old model.... Wonder who will win...