I can't understand why anyone would say it is a bad move. Any kind of adoption can only benefit the space as a whole regardless of the specific use case.
Because nobody yet knows really if its a bad or good move in the long turn, here some arguments for good/bad move that immediatly come into my mind:
- the adoption will mostly benefit the whole crypto world, i think there is not much doubt about it, every use case is good.
- one problem that often has mentioned is the paid 50-65M XVG for the "partnership", this is a huge amount. Someone can argue if that way its a partnerhip
or just paid intregration, sponsorship, clientship, or something mixed.
- while mindgeek is a huge enterpise with profits, this does not automaticly mean every partner will make millions of profits to.
- Someone has to see if this "partnership" goes for longer, finds indeed adoption or its more like a test. In case, for whatever reason, mindgeek discontinues
XVG as a initial payment method than the deal will turn out a total flop. Having Verge only on 3 sites makes it a bit looking like a test. I guess this is one of
the signals to be a bit cautious at the moment.
- So far recurring/renew option is not available. Without having this the deal is not as good as it could be .... i guess there is no doubt here. There is so far
no garantee from the interview of mindgeek that this will come indeed in the near future if it comes ....
- Will it be further implented into the mindgeek pages? More sites? Webcam Model payments? other purchases? We do not know. These are things you might
associate with the partnership, but until its not in place and working for longer, it's nothing to count on. I have my doubts for Webcam Models in generally and
do not think it will happen, if ever, the next years. But who knows?!
- We have yet no digits on how many memberships are made with XVG, and when we know, we have first to see how this will profit Verge at all. Is it only the
transaction fees Verge profits? Other? Nothing than exposure on these high visited porn pages? We do again not know yet.
- When i investigated pornhub about 12 hours bevor the deal was released i saw on the pornhub forum a poll or questioneri/thread people asking for Crypto/Verge
as a payment. If i remember right it have been about 5000 people over the months requesting it on the forum. With millions of daily users this digit is not really high.
However, does not mean anything of course, just remembered it that there is a chance XVG does not get that adopted as a payment as we all think it will be.
- There is still a problem of getting XVG. It seems we to easy forget how difficult it is from time to time to get Crypto because we are all familar with exchanges, mining,
and and and. The average Joe will have its problems eventually. However, this on the other hand leaves a lot of room for improvements of course and mostly any other
deal would have faced the same problem.
- There is indeed a real chance that XVG will be (called) a porncoin. You can not compare Mastercard/Visa/Dollar to it, its not the same. With the examples the use case
for porn is about 0.01% maybe at most for all of them, while with XVG it is 100%. Neither mastercard/Visa nor the Dollar made its first steps with porn. Even not talking
that each of these three have some kind of monopol which automaticly makes them totally different and does not leave any place to compare them to XVG and the porn
deal.
- Investors, holders of XVG want at least a mid - long time price raise to have a profit out of their investement, just normally. Even more with so much money paid for
that deal. Now we have the problem that everybody expects something different as the target price. One might hope for 100 USD/XVG, the next one USD 1 and the 3rd
one is ok with 0.05 USD as this is a price raise as well. In case of further downfall of XVG many will continue to say its a bad deal as the result in price does not comply
with the price on the exchanges. If the price goes up or stays at least at 0.05 - 0.10 than we have a situation where someone can/should be ok with the result and the
deal. If it goes over 0.10 longtime naturally (without whales, december boom, etc.) than this deal has brought indeed real value to XVG. We do not know yet where the
price will settle, still too many questionmarks for a lot of things.
- The hype bevor the announcement by verge and the community itself was not good in my opinion. Many, many people got too high expectations due it, and are now
disapointed because its not amazon, ebay, paypal, german bank, whatever that made XVG going up USD 1 and to the moon. Of course its to everybodies own discretion
on what to await form the mystery deal, but that hype for sure has made a lot of people disapointed. Another approach, with a direct announcement, would have been
better for the price itself (going up and not down) as well as avoiding disappointed people. But thats just my opinion.
- Will Verge be the only Currency on mindgeek sites or do they still consider adding other coins as well? With other coins added the exclusivety is gone, while it might
be again good for the crypto community.
- The good thing is just that there is a deal, and of course in no way the worst. The deal has some potential but only time will show how good the deal was/is/will be.
This said, i personally in no way agree with the people that say its a really bad deal, but i do as well not agree that just because its mindgeek makes it a perfect deal,
because its all up what when how will be delivered from now and if its longterm with real improvements.
Just 2 satoshis on the bad/good deal discussion
I for myself tend to see it as a good deal.
They surely made sort of a serious analysis before choosing XVG. Why didnt they choose an other privacy coin (like zcash, BitcoinZ, etc. etc..)?
As everything in crypto is uncertain to some degree, I think this deal is on the less uncertain side of the spectrum.
Poll
