Regardless of whether or not you believe in Verge or wholeheartedly believe it is a scam, we will ultimately find out on April 17, 2018.
Whether or not Verge is a currency that will be around in six months and become the much-hyped top three market cap coin, or ultimately die by its own sword.
It's hard to dispute that the Verge project has been through many ups and downs, most notably a recent situation where an attack saw a hacker gain 51% of the Verge network and perform a 51% attack which is considered quite rare for a coin in the top 25 by market cap.
The attack resulted in Verge having to fork to address the problem. Then before that in late 2017, there was controversy where Verge and John McAfee were fighting over promotion of the project, messages were revealed and it shook investor confidence.
Then a few weeks ago Sunerok (lead Verge dev) promised a large announcement to be made April 17, 2018.
Rumours have been flying around about who the partner could be:
- Amazon
- eBay
- PayPal
- Square
- MindGeek
- Ayden
- Flipkart
- Netflix
- Spotify
Sunerok has also been hyping the announcement a lot, dangerous levels of hype I would say if the announcement wasn't a big deal and delivers as expected, Sunerok is going to be going into witness protection because some of these Verge hodlers are crazy.
The logic around the partnership is that whoever it is will want to implement private transactions and afford their users the comfort of private transactions, something a porn site would probably be interested in adopting. Banks already have Ripple (XRP), so hardly likely it's a bank partnership.
Based on what we have been told and what has been hyped this is what we know based on the limited information available:
- The April 17 partnership will be one of the biggest partnerships in crypto history
- That this announcement will send Verge into the top 3 rankings on CMC (which means it would have to reach $1.50)
- That the announcement will change the perception of crypto
- The partnership is with a global organisation with a vast network of high traffic sites
- The company is looking to enter the cryptocurrency market and use Verge as the preferred form of payment method for hundreds of millions of potential consumers daily
In an interview with Bitplex, Sunerok mentions in regards to the partnership:
they are a multi billion dollar company, international. they have offices everywhere. they are the top tier of a 100bill a year market. i met with them in person a few months ago.
Things feel a little dangerous and uncertain right now because you've got YouTuber's like Chronic Crypto making crazy predictions that Verge will hit $17 per coin from its current 9 cents now, that would be unprecedented and unrealistic growth:
When you've got hype reaching epic proportions such as the above video which is quite extreme in my opinion, it can be easy to get caught up in the hype and lose sight of the risks involved in investing into a cryptocurrency project.
Is it Flipkart? Probably not.
There is a lot of speculation that Flipkart is the partner. I personally have never heard of them before, but after reading into them they are massive and adding to the puzzle is the following Tweet:
https://twitter.com/Flipkart/status/984696789952581632
- Flipkart
Flipkart Tweets an image that says:
A hype so big that Bitcoin feels small. #bigOnFlipkart
The Tweet message itself reads:
A partnership so BIG in value, Bitcoin feels insecure! Watch out for the BIG reveal on 17th April.
The Tweet points to a link which has three choices that people can guess from within their app:
- A) A BIG new phone launch just for you
- B) A BIG brand exclusively on Flipkart just for you
- C) An innovative new value added service for your phone
If the announcement is Flipkart, I would be leaning towards C as being the likely option. Given that they're talking about cryptocurrency and not exactly in a positive way, with Verge being seen as a privacy-focused Bitcoin alternative, it's likely.
After looking into Flipkart, they're India's largest e-commerce platform who has over 100 million registered users and make over $3.1 billion revenue a year. It is rumoured that Walmart is interesting in acquiring a majority stake, and Amazon is apparently also very interested in Flipkart as well.
Conclusion
I currently only have 9,224 XVG tokens, and I used to be a much bigger hodler months ago before the McAfee situation and fortunately, I did well out of the price pump it received towards its peak of $0.26. I am a little burned out, so I am being cautious and only planning on holding the coins that I currently have.
If XVG even just reaches $1, I have already made an incredible profit. But my advice to anyone else out there is don't get your hopes up, even if Sunerok is saying how great and game-changing this is, be cautious and never invest more than you can afford to lose.
One thing we will know on April 17 is whether or not Verge is a project that will still be alive in a few months time. It's judgement day. If you're invested and the news is true, Verge is about to go for a second round and make everyone rich yet again.