Verge: The most hated top 100 coin out of all top 100 coins that say they get hated on. And yet, the Verge fundraiser is already raking in millions.
Behold, the ‘biggest partnership in cryptocurrency’ is upon us. Only problem is: nobody knows what, where, how, or why.
Noone had ever heard of Verge before John McAfee threw out another ridiculous tweet and send the price soaring, amid the altcoin-bubble of late 2017:
See, McAfee invented some anti-virus software back in the day, and is now considered an expert on cryptocurrency by a number of people, including himself and virtually nobody else. It’s not even clear if he really knew what Verge was about at the time, or if he just wanted to give a few examples of privacy-focused coins. Anyway, price went completely apeshit.
Does Verge suck?
While there may indeed be a huge (black) market for quality privacy-coins, Verge isn’t one of them – at least, according to this rather convincing article (a less-convincing but nonetheless interesting rebuttal was posted on Medium).
Verge is now begging for money, I mean raising funds, for a ‘potential partnership’. The fundraiser has a target of 75 million XVG, which is worth about 3 million dollars at the time of writing. The strangest thing about the announcement: information about the partnership will only be released after the money has been obtained.
Indeed, the tweet raises a lot more questions than it answers. Like: why do they need the money? Why don’t they announce who the (potential) partner is? What happens if the target is not met, or the ‘global organisation with a vast network’ changes its mind? Other questions that might pop up: is this a scam? And: what the hell?
Still, Verge rallied on the back of this news, because of course it f*cking did.
On the donation page, a number of development goals are listed.
Ledger Nano hardware wallet integration and support
Wraith protocol iOS enabled wallet applications
Advanced Marketing tactics which span the globe
Partnerships with large scale companies
Real world adoption
These are some pretty reasonable objectives. However, it’s not clear if and how the donated money are used to reach these goals, or in what timeframe.
The main advantage of Verge
Pretty much the only good thing that can be said about Verge is that it’s not DeepOnion – which we might write about at a later time.
Want to make a donation? Please don’t, but it can be done here.
These articles are not investment advice. DYOR. BYOB. YOLO. KFC.