This is the second part of a two part series “Which partner will Verge (XVG) choose? You may read part 1 here.
Last week, Verge (XVG) CEO, Justin Vendetta aka Sunerok, announced of a big partnership that will in some way change the whole world. True to his word the news has given the investors a change in XVG last weeks’ pyramid of green. As the week went by, so did the price of XVG rise and rise. In perspective since last week, the coin saw a massive 40% to see it cross the $0.1 mark to hit $0.1134 on Tuesday April 17, 2018 11.34 AM EAT for the first time since January. That was when there was a massive bull run in the whole market and Bitcoin hit $20,000. Bitcoin is currently trading at $8,000. I said it before, if this partnership does not show a willingness to truly change the world, Verge will suffer. The privacy coin is currently trading at $0.074 Tuesday April 17, 2018 5.52 PM EAT and falling. Where did it go wrong or ‘right’ for Verge?
The partner announced through Vergecurrency official Twitter handle is Pornhub and Brazzers. Yes, right, Pornhub. And Brazzers. The partnership will in no doubt raise controversy amongst the community members and investors as well, but could there be a market for Verge in the $250 million industry? Or is it a failed move that will forever haunt XVG in a period when the rest of the market is in pools of collard greens? We dissect and easily explain the gains and pitfalls of this ‘historic’ partnership.
Anti – partnership
In the red corner, critics and so called FUDsters will feast at any opportunity to spread their message against the partnership with Pornhub. Conservatives, investors and anyone who waited for a bigger, better and more profitable partnership feel they lost all confidence in XVG.
- Prices are already tumbling.
This last hour will be one to forget for any investor holding Verge (XVG). The price has seen a 40% fall in the last one hour to send investors in a rush to sell their XVG. The price collapsed from a 3-month high of $0.1134 on Tuesday morning to below $0.07 as at time of writing. This sudden sell off explains the lack of confidence in this partnership changing the world in any way.
- Pornhub is in no revolutionary to mankind
Cryptocurrency in pornography is no new thing. There are tons and loads of cryptocurrencies out there doing the same thing, will the partnership be any different? I really guess not. I t is key to point out however, that privacy emanating from XVG network may prove to revolutionize the porn industry at large.
- It solves no major problem as promised, it actually compiles them.
Current humanity faces various problems in different classes. According to psychologist, Philip Zimbardo Ph.D. in his article, ‘Is porn good for us or Bad for us?’ pornography may be one of them. “Regardless of how one might feel about porn’s value, more and more studies suggest porn users suffer detrimental effects. Ultimately, more research needs to be conducted. However, if in the meantime we continue to deny that porn can be a problem for some people, we are effectively denying these people, many of them underage, help and guidance.”
Pro – partnership
- Privacy offers a new dawn to Pornhub
Looking at the silver lining, this may be a development in the porn industry. No more credit cards or debit cards or giving your card information to the biggest porn network in the world to purchase content. You can do it privately using Verge now. As much as the uptake of Verge (XVG) is concerned though, competition is stiff amongst other altcoins in the market.
- A step towards capturing a $97 billion industry
The porn industry is currently worth $97 billion according to various independent reports. No official reports have been released. But working with this figure, Verge may well have hit the right tones as they have already captured the biggest fish of them all. Pornhub currently has over 10 million subscribers and transacts over $100 million in annual returns.
I read an article last week detailing the possible partnerships and I was surprised to see Pornhub listed. The partnership may well turn out to be a winner, but as for now the management team at Verge (XVG) have hugely disappointed their followers. The partnership may have the potential and compatibility, but after a long wait, the Verge family (Vergefam) feel short-changed. The prices are falling. Verge will need massive redemption!