Some interesting comments on reddit about the XVG thingie today. Its to everybodies own discretion how to use or read it, but i thought its interesting at least to read it:
retrospectr3 10 points 21 hours ago*
I posted this same question on the verge subreddit. Curious about what you guys think:
The original crowdfunding tweet said that the donations will be used “to initiate a massive marketing campaign.”
The video on the donation page says that if the deal doesn’t go through the donations will be used to “fund other initiatives,” which are listed above, with the first one being Nano Ledger integration.
So since now the word is that donations will be used for Nano integration, does this mean there is no partnership?
didn't think about this scenario to be honest, but it would be somehow the smartest in case its a kind of scam:
shibe5shibe 3 points 22 hours ago
I don't know of any contract or margin offer for Verge. But you can do a pyramid/hyip/ponzi and sell the invested XVG. When it crashes, re-buy it and return just what was invested. Make up some excuse for why there is no profit.
about nano fees and integration:
xmrscott1 - 2 years account age. 200 - 1000 comment karma. 39 points 22 hours ago*
nano fees and integration
So some interesting basic math:
At time of writing they have withdrawn 13,600,020.58367053504 XVG
At time of writing 1 XVG ~= €0.07755 which means they have withdrawn (not factoring for taxes and conversion fees) €1,053,185.58
It takes €149,000 for Ledger integration Edit: for BTC related coins... "only for project inheriting from Bitcoin. If the blockchain technology is original (ex: Ripple, IOTA...) then the pricing could be much higher". This is for the package that is basically integration + Nano's. Just integration is 1/3 that, 50K EUR.
In other words, they have withdrawn an extra €904,185 if the XVG they have drawn thus far is only for the standard 150K Ledger 'package' or about 6x what is potentially needed. Verge TMK has not explicitly stated and been transparent as to how much Ledger has asked for for XVG integration.
It is also interesting that they have not withdrawn the money for the actual partnership yet given how volatile markets are. A rational person would cash out upon the goal being met so as to guarantee the fiscal value would not be devalued to something below what the partner is asking because of said volatility. Or you know, not being able to cash out because because your coin is so insecure someone found an exploit to mine a block a second and cause deposits of XVG to be frozen on the exchanges.
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[–]NCT93Redditor for 5 months. 10 points 22 hours ago
It's already 18.5 Million XVG which are withdrawn.
a comment about the privacy, did not know this:
turtleflaxRedditor for 10 months. 10 points 23 hours ago
Their only blockchain "privacy" is stealth address tech vert used to have in 2014. This is weak recipient privacy that means the recipient can generate an address that is private (until they spend the funds). Since the exchange didn't do this there is no privacy in the Tx. As a sender, there is no way to send a Tx privately
The closest you could come is sending to an SA address you generate for yourself, then very carefully sending to the exchange, but this is weak privacy and there's plenty of room for error
Interesting point about the difference of partnership, sponsorship or client:
laminatorius 8 points 23 hours ago
Just a honest question: They said they need to raise the Verge to pay for the integration with their new partner. How would you do it otherwise than sell it?
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[–]Fordperfect90Redditor for 5 months. 9 points 23 hours ago
Why would they have to pay for an integration? Usually in an enterprise setting integration is waived if the contract is signed for a specific length of time. Also if XVG is the integration point the coins should go to the partner in return for the integration setup. This just doesn't seem right. If you are paying for something it's not a partnership, but a sponsorship. If you are paying for a partner, they have no skin in the game.
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[–]PM__YOUR__GOOD_NEWSRedditor for 6 months. 7 points 23 hours ago
Right.
If you paid for it you're not their partner, you're their client.
CriptoleteRedditor for 5 months. 11 points 20 hours ago
People donated around 15-20m XVG, and the rest was put by TokenPay. Now strangely 18,6m XVG have been transferred to Binance... I'm being suspicious, but this looks around the amount raised which didn't come from TokenPay.
