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

[lmoe23]

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 

haha good point! 

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[Arvydas77]

It is classical example of buy the rumor and sell the news. Verge was pumped too hard but smart people made nice profit. Just learn from this experience if you bought top. Don't hold it. Sell and go further.

[Xxxurrrad]

I think that partnership with Pornhub is good. I think that the price is deliberately dropped, then again there will be a pump.

[housebtc]

What I think about the whole Verge partnership thing is that if the team even announce something like a dark web adoption the price will still tank, alot of people were anticipating the news to start dumping on the market but the news get alot of people disappointed, I think the PR manager of the project did a very bad job here

[Orielres]

I think that partnership with Pornhub is good. I think that the price is deliberately dropped, then again there will be a pump.

I agree. The price has already rose a lot. So the drop is quite healthy.

[torrantz]

What I think about the whole Verge partnership thing is that if the team even announce something like a dark web adoption the price will still tank, alot of people were anticipating the news to start dumping on the market but the news get alot of people disappointed, I think the PR manager of the project did a very bad job here

Very very bad consider about the fact there is no partnership. And this is how verge team called that as partnership, the team paid to promote verge on the porn site through use the banner. What a shame.
Is this how the team called it as a big partnership? Totally crap and worthless. I just waste my time to take it seriously.
Investors are losing hope on it.

[grimesrhymes]

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.

Announcing it was not something that they could avoid given that they had to crowdfund. IF it was avoidable then we'd surely be looking at threads of people asking if XVG will continue to pump instead of the disappointment.

Millions of people still pay for porn, it's still one of the biggest industries in the world. Partnering with a privacy based cryptocurrency makes perfect sense and is a good deal for both XVG and pornhub.

[boss1dg]

well after any news any coin will get dumped .
but in this case it was too huge . maybe most of users did not like this new partnership and expected something like paypal or amazon .

[andrew1carlssin]

even though ... porn and privacy is a good idea ;-)

[alani123]

Verge is under fire at the moment. I think even PornHub is trying to hide how bad this partnership truly is now. They changed their logo to something entirely irrelevant...

Funny thing is, that the service when paying with crypto is actually worse. No free week, or any promotion that users would normally get when paying with FIAT. Also no refunds. lol

[Suslived]

Millions of people still pay for porn, it's still one of the biggest industries in the world. Partnering with a privacy based cryptocurrency makes perfect sense and is a good deal for both XVG and pornhub.

Exactly! This is such a basic principle that i don't understand why people can't make sense of it. Verge did a good job and was at no fault by announcing and trying to hype the partnership. It is exactly what it was advertised and the partnership is real.

Funny thing is that it seems investors suddenly have morals now. Lol.

[valerie_zurich]

Exactly! This is such a basic principle that i don't understand why people can't make sense of it. Verge did a good job and was at no fault by announcing and trying to hype the partnership. It is exactly what it was advertised and the partnership is real.

Funny thing is that it seems investors suddenly have morals now. Lol.

It's counter intuitive to pay with crypto though. See:

Verge is under fire at the moment. I think even PornHub is trying to hide how bad this partnership truly is now. They changed their logo to something entirely irrelevant...

Funny thing is, that the service when paying with crypto is actually worse. No free week, or any promotion that users would normally get when paying with FIAT. Also no refunds. lol

Morese on that issue, using any cryptocurrency as a means of payment means that the merchant is instantly liquidating. This creates selling pressure and hence lowers the price.

Verge has only kept falling since the news were announced.

[bbc.reporter]

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.

What difference would it make if Pornhub started accepting bitcoin and other more popular cryptocoins like litecoin or Ethereum? This is an empty partnership unless Verge is the exclusive and only accepted coin on the site. Which then would make it a bad business decision if Pornhub's competitors started accepting bitcoin and the more popular altcoins.

[grimesrhymes]

Exactly! This is such a basic principle that i don't understand why people can't make sense of it. Verge did a good job and was at no fault by announcing and trying to hype the partnership. It is exactly what it was advertised and the partnership is real.

Funny thing is that it seems investors suddenly have morals now. Lol.

It's counter intuitive to pay with crypto though. See:

Verge is under fire at the moment. I think even PornHub is trying to hide how bad this partnership truly is now. They changed their logo to something entirely irrelevant...

Funny thing is, that the service when paying with crypto is actually worse. No free week, or any promotion that users would normally get when paying with FIAT. Also no refunds. lol

Morese on that issue, using any cryptocurrency as a means of payment means that the merchant is instantly liquidating. This creates selling pressure and hence lowers the price.

Verge has only kept falling since the news were announced.

If the service is worse than that's something Verge should work out with them but there will still be plenty of people willing to sacrifice the additional perks.

They may be instantly liquidating or liquidating in batches, or never at all, we do not know. It does create selling pressure but this is only matched in advance by buying pressure. People have to buy the coins in the first place in order to purchase their memberships etc therefore there's an equiibrium and other than potential volatility at has no negative influence on the price.

[prabakharras]

The market was not pleased with that sort of partnership
still the tank isnt like a total zero in https://www.coingecko.com/en/coins/verge

[masonrycrypto]

Demand drove the Volume influx... Investors saw an exit strategy and SOLD SOLD SOLD

[2stout]

Quite an underwhelming announcement that fell flat and didn't live up to the hype.  Next time, don't announce an announcement unless it is truly epic or beyond; this is where they err'd.  Should have dropped it out of the blue as it was newsworthy but by no means epic and now looking like a desperate move, which did not fool hardly anyone.

[KryptoKai]

Pornhub are giving their verge coins away as a promotion, to people that most likely going to dump. If verge gave millions to pornhub, and they then give away thousands and thousands to dumpers, the price will continue to dump

[alani123]

Pornhub are giving their verge coins away as a promotion, to people that most likely going to dump. If verge gave millions to pornhub, and they then give away thousands and thousands to dumpers, the price will continue to dump

The most expensive way to buy twitter followers:

Ask for $3m donations in your coin
Announce that a free porn streaming site site is going to be accepting your coin as result of said donations
said website announces it will be donating 300k of your coins
price of your coin drops 50% through 3 days while all other cryptos explode

Good job Verge.

[bbc.reporter]

Pornhub are giving their verge coins away as a promotion, to people that most likely going to dump. If verge gave millions to pornhub, and they then give away thousands and thousands to dumpers, the price will continue to dump

The most expensive way to buy twitter followers:

Ask for $3m donations in your coin
Announce that a free porn streaming site site is going to be accepting your coin as result of said donations
said website announces it will be donating 300k of your coins
price of your coin drops 50% through 3 days while all other cryptos explode

Good job Verge.

Also, as with the other cryptocoin giveaways of the past, Verge's giveaway will be cheated by professional account farmers making the purpose of the promotion redundant and useless.

The good news was nothing more but an event used by day traders to pump and dump XVG.