How Verge's "partnership" tanked [-25%]

[valerie_zurich]

Look at Verge's price falling:

https://cryptocoincharts.info/coins/show/xvg


The development team had asked for supporters of the currency help crowdfund for a partnership that allegedly was going to change everything. They asked for 3$ million in Verge.

The partnership was revealed today and it was with PornHub. The community of Verge is trying to make this seem as a positive highlight but the market isn't pricing it well. 

Will verge ever recover or will the downfall continue?

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[X-ray]

Look at Verge's price falling:

https://cryptocoincharts.info/coins/show/xvg


The development team had asked for supporters of the currency help crowdfund for a partnership that allegedly was going to change everything. They asked for 3$ million in Verge.

The partnership was revealed today and it was with PornHub. The community of Verge is trying to make this seem as a positive highlight but the market isn't pricing it well. 

Will verge ever recover or will the downfall continue?

The downfall will continue, i thought that's not an important news honestly and that's not going to change everything. It looks like it was turned to the bearish news for verge. To give an update about big partnership to the financial companies will be much better rather than pornhu* I guess this just like a boomerang for verge.

[grimesrhymes]

As always the crypto space fails to manage expectations and this leads to these situations. I actually believe that Verge did good work and it's a strong partnership for them, however the price should not have increased nearly as much as it did. People expected more and then were disappointed and that's why we've seen the dump.

[European Central Bank]

announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.

[josebcn]

I think it's just another "sell the news".

I am not into XVG.

[Suslived]

announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.

Good point. If they simply just didn't "announce the announcement" and suddenly popped up with a pornhub partnership one morning it would have been EPIC.

That being said, i believe that the Verge team made a good decision going with pornhub. It's one of the largest websites in the world and has the transaction volume and privacy needs worthy of cryptocurrency. It may take some time before people realize this, but in the end, Verge made a good move with this partnership.

[Shnikes101]

announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.

Good point. If they simply just didn't "announce the announcement" and suddenly popped up with a pornhub partnership one morning it would have been EPIC.

That being said, i believe that the Verge team made a good decision going with pornhub. It's one of the largest websites in the world and has the transaction volume and privacy needs worthy of cryptocurrency. It may take some time before people realize this, but in the end, Verge made a good move with this partnership.

But... Who pays for porn these days 

[coyote50]

As always the crypto space fails to manage expectations and this leads to these situations. I actually believe that Verge did good work and it's a strong partnership for them, however the price should not have increased nearly as much as it did. People expected more and then were disappointed and that's why we've seen the dump.

people expected more because sunerok said it would be the most important thing in crypto and change crypto completely. he kept hyping it up big time, then revealed a simply mediocre "partnership"

[marketone]

announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.

Yes, check the market cap once it is also decreasing and the value of bitcoin is kept decreasing. So it is effecting verge also, even though it is a positive but market is not in a correct situation to increase its price.

[Riptide777]

announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.

Good point. If they simply just didn't "announce the announcement" and suddenly popped up with a pornhub partnership one morning it would have been EPIC.

That being said, i believe that the Verge team made a good decision going with pornhub. It's one of the largest websites in the world and has the transaction volume and privacy needs worthy of cryptocurrency. It may take some time before people realize this, but in the end, Verge made a good move with this partnership.

But... Who pays for porn these days 

Mindseek, or whatever it’s called, has over 100 million users
Even if they don’t all pay for porn, Verge will get some serious exposure as a crypto capable of being used as payment/currency.    And it already puts it ahead of something like Monero, for example

[jomarkororo]

good thing i sold my xvg way back last year when its on All time high..no plan to buy anymore 😀..

[Lecsor]

Partner had Verge literally. Rather, investors realized that investing in a coin with such a partner is not serious. Until they reconsider their actions and something does not begin to correct the fall will continue.

[DogTheHunter]

Pornhub is a very big partner with 2-3 billion followers. But the fall did not make much sense either.

[btctuxedo]

The price keeps going down despite being on the top 10 for Trending Cryptocurrencies over the last 24 hours on Twitter as published on http://beta.adfunnel.tech/

I would say it's time to buy some XVG and HODL for the next few months

[supremnoob]

Will recover for another bull-run to 1500 satoshi. In just 48 hours.

[Juulke]

Will recover for another bull-run to 1500 satoshi. In just 48 hours.

I hope your are right. I still hold my Verge but looking back I better sold and bought in again now.

[mundang]

They want cheap xvg to use on the site and also it may  increase the number of new users that do not have credit card on pornhub. I need to buy xvg from now own.

[Suslived]

announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.

Good point. If they simply just didn't "announce the announcement" and suddenly popped up with a pornhub partnership one morning it would have been EPIC.

That being said, i believe that the Verge team made a good decision going with pornhub. It's one of the largest websites in the world and has the transaction volume and privacy needs worthy of cryptocurrency. It may take some time before people realize this, but in the end, Verge made a good move with this partnership.

But... Who pays for porn these days 

A lot more people than you might think. I can't find it right now but just google some statistics of pornhub. You'll see why there are so many ads on porn websites. Imagine all the perverts in the world who pay for prostitution. It remains a business/occupation because it is profitable. What more with online porn where people want to see these people from the comfort and safety of their homes.

The only problem is that traditional big businesses are run by boards and majority of them will almost always see "porn" as something taboo. Thats why I believe Verge value when down. But in the long run, the right investors will come and pump Verge till it cums.

[LazyBitInvestor]

Investors were just waiting for some more significant event. And as their expectation was not justified - they dumped XVG.

[Red-Apple]

it tanked only because it was pumped. it has nothing to do with the partnership,... nobody even cares about that. it is just a random news that was used as a hype to initiate the pump and then eventually every pump ends with a dump like this without an exception and there is no escaping that.