Verge Going Full-speed into Wild Promotion

 

Bitcoin Global News (BGN)

April 26, 2018 -- ADVFN Crypto NewsWire -- When the big partnership announcement was made and the donations started, the Verge team was widely criticized for possibly perpetuating an exit scam. When the partner was announced as Pornhub, the tune changed to one of ridicule and confusion. Why hype up such a partnership so much?

 

First of all, it apparently involved two adult sites, Pornhub and Brazzers. Secondly, the price movement of the currency after the announcement appears to indicate a rapid loss of confidence, which stands in opposition to its movement before the announcement. Specifically, one report indicated that the currency lost about 25% of its value in the week following the news of who the partnership was with.

 

Two days ago, it was reported that Verge and Pornhub representatives appeared on Wall Street, effectively dressed as if they were about to rob a few banks in an attempt to publicly spread the word about their partnership.

 

Despite the strangeness surrounding this event, it is important to keep in mind numbers like the average traffic that hits a site like Pornhub. Specifically, Pornhub boasts 81 million visitors a day, according to a Coindesk report. On the flip side, given that Pornhub appears to advertise its site as 100% free, one could really start to question where any value is in this partnership, beyond spreading awareness of it to a select group of people.

 

Given the fact that Pornhub runs a largely free business, this partnership could be logically considered as shaky at best. Secondly, but of equal importance, the Verge founder, Justin Valo, already has a sketchy past. It’s interesting that other outlets have minimized his past with statements to the effect that his arrests were all minor offenses.

 

 Judging by public court records, Valo has actually been arrested for a wide array of offenses, from traffic offenses to trespassing to property damage between $200 and $1000 dollars. These offenses are only the tip of the iceberg, however. He has apparently also failed to appear at his hearings more than once, as well.

 

In addition to all of this, Verge also experienced a leak of private transaction information from its users, which was reportedly posted on a mysterious website.

         

Keeping the facts about this partnership and this cryptocurrency’s founder in mind, one could argue that it is best to steer clear of everything involved with this situation. It is not entirely implausible to assume that the Verge team could make away with any XVG coins that are still in their hands at any time. Despite this, all of this must be clarified as supposition based on limited facts, at this point. Even so, investors would do well to steer clear of a currency that has been fraught with risk from several directions.

 

 

By: BGN Editorial Staff


 

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