Verge is a decentralized open-source cryptocurrency that offers anonymous transactions by obfuscating the IP address and geolocation of its users so that they are untraceable using I2P technology based on Tor Network. It trades under the symbol XVG. Verge Currency is a cryptocurrency designed for everyday use.
Verge has been around us since long and taken as a privacy coin based on TOR which is a browser to get access to the dark web on the internet. We know Monero has replaced bitcoin as a method of value transfer on dark web.
There has been a lot of hype lately for Verge (XVG) since it announced it's partnership with "Mindgeek"
Apart from this, since Sunerok mentioned that this partnership would lead them to mass adoption in the international market, many names come upfront including OverStock, Samsung Pay & Indian shopping site Flipkart But everything became clear when Verge announced it's partners "MindGeek".
Whats MindGeek?
MindGeek is a porn provider. Or more accurately, the porn provider. MindGeek has become the porn monopoly, putting industry members in the paradoxical position of working for the very company that profits from the piracy of their work. The MindGeek hydra exerts so much force that people in the online-porn industry are scared to talk about it for fear of blacklisting. And MindGeek’s dominance should serve as a cautionary tale of the dangers of consolidating production and distribution in a single monopolistic owner.
Merits
It is a gigantic step taken by people of Xvg by booking porn industry for xvg. We often hear about data stealth and privacy issues are always there. A very big example of "AshleyMadison.com" is with us. People avoid sharing there credit card details with porn sites. I hesitate! This partnership has given us a window.
If it's adapted successfully then just think about the prices of xvg. It is trading at 0.07 dollars while I am writing this article but if adapted properly then the prices of this coin can shoot up to $20 in no time.
My Views
If we talk about the real-life usage of any cryptocurrency then I think, for the very first time in the history of cryptocurrency, a crypto have been identified for real-life usage. It has opened the doors for other crypto's as well. Now no one will be forced to take bank calls or keep worrying about their privacy while watching porn :)
Disclaimer: I am neither into finance nor I claim to be an expert of blockchain technology but still, I can see and understand the world changing around me. I am sharing my views under no claim to be perfect.
Please let me know, what you people think of this partnership in the comment section below.
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I think its great for Verge and also a win for porn. Technically, a bigger win case for verge. It just depends whether actual utility arises.
I believe that it will because there are millions of people who don't use credit cards but have spending capacity. This union can target that volume too!
I have Verge AND Pornhub!!!!
future seems good for u :)
An important detail not covered in the post, was the horrible deal Verge made with Pornhub (spent around $4 Million), the primary reason Verge had a collasal collapse in price on announcement day. It has not recovered since. The CEO of the Vice Industry Token (Stuart Duncan) goes into more detail and discussed how his company ( VIT)walked away from that deal because it was bad and not exclusive.
I owned Verge and sold it immediately after the announcement. So glad I did. While most of the other cryptos increased 20-50%, Verge subsequently lost 25%. I am not a fan of a team that does bad deals.
That seems too good to be your first Crypto review. Hopefully many more are on the way. You proved that a Writer with grit can write about anything he wants. Good Luck @honeychum
Thanks a lot @pkalra I wanted to start crypto review since long but as they say "better late than never" :)
I completely agree with you @honeychum, when it comes to real life use case #XVG has certainly gave crypto a kick start.
Very well explained, always a fan of your writing, this clearly states that your writing is versatile. :)
I consider this a win not only for verge but blockchain technology as a whole. The porn industry is known for adopting technology before mainstream grasps its uses. The cards are looking good:-)
Haha.... On the plus side, we won't have prominent individuals committing suicide, when they are caught paying for porn.!
Exactly! you got the nerve. :)
I have quite the Opposite thought about this Matter.
First of all the Porn Industry although is a Billion Dollar Industry it is still in Decline. Paying for Porn Subscription is now a thing of the Past as more and more Peoples are Moving towards Tubing Websites. Plus we have the VICE Platform coming up soon which will pay you for watching Porn.
Secondly, VERGE has some Problems in their Codes which led to the Recent Fiasco of the 51% attack and many More. It is no longer Private anymore. That is my opinion.
you are right @arunava but your doubt, itself is an answer. Porn industry is a billion dollar industry. If we look at the world charts of porn industry then its booking growth of around 20%/annum. I respect your opinion but I personally believe that verge can be a game changer for the porn industry.
I would have certainly agreed with you if not for the launch of VICE Platform plus do you remeber the last Time you Paid for Porn as I am very sure I have never Paid to watch Porn.
you are right that you and I do not pay for porn but yes there is the majority, who does. What happened with Ashley madison, we all know!
Yes, that is True that was Huge. I have to Agree on that.
I believe that Porn industry has a huge market since then. When I get to Singapore, I was 21, I wanted to start a business of Mail order bride. I saw potential to it. But I did not know where to start.
@honeychum I browse your other post too and its inspiring.
That was a good idea!
Very well explained.I don't know much about the prone industry but I trust you and going to invest a big amount in XVG. I am sure the coin will cross 20$.
Well, it's about the possibilities for Verge! This companionship can lead other crypto's to start looking or adapting real-life usage, for sure. Ripple, Monero, Dash, XEM are already working towards it.
Holding Verge, for now, can prove to be a gold mine tomorrow. :)
Beautiful community
I like this bitcoin
Thanks My dear friends honeychum
Bitcoin has a bright future for sure! Thanks @richard77
Maybe we will watch some real porno movies like in the past. Some real blockbusters :).
for sure, party time starts... ROCK ON!!! @vox00
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Good news
sure it is ! :)
I full agree with you sir,, @honeychum
Kool :)
Charlie Lee [LTC]
Verified account @SatoshiLite
Turns out Verge's super expensive partnership was PornHub. “we think it has gained enough steam for us to penetrate the market.” penetrate. 😂
@Pornhub, enough with the foreplay. Time to accept the real cryptocurrencies like BTC, LTC, and XMR. 🚀
https://www.theverge.com/platform/amp/2018/4/17/17244916/pornhub-cryptocurrency-verge-xvg?utm_campaign=theverge&utm_content=entry&utm_medium=social&utm_source=twitter&__twitter_impression=true …
7:26 am - 17 Apr 2018
So it turns out that 75 million XVG which amounted to about $3 million USD at the time was paid to pornhub for this.
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