Ok, friends, some breaking news...
April 04:
There's currently a >51% attack going on on XVG which exploits a bug in retargeting in the XVG code.
... the hacker is mining one block per second !
April 05:
The background is that the "fix" promoted by the devs simply won't fix the problem. It will just make the timeframe smaller in which the blocks can be mined/spoofed and the attack will still work, just be a bit slower.
Also the over 20 Million XVG which were unstained by the attacker won't be blacklisted, reverted, filtered or rolled-back in anyway according to the verge-dev
Source on bitcointalk.org
Fuck'n shit!
How can this happen to the coin with ~700M market cap? Just a few time passed after the last fundraising
I think I can tell you how...
A Small Preface
If you follow my posts you've probably noticed that I'm an ardent supporter of privacy and anonymity and I think this should be next problem cryptocurrency should consider solving. I'm sure anonymous cryptocurrencies are the feature, so a couple of months ago I've started my researches to find the best one to invest in. I liked Monero, Navcoin and DeepOnion the most and finally choose the latter, considering it was young and pretty underpriced. But that's another story, let's get back to the topic.
Briefly about Verge
During my research I've, of course, noticed Verge too, but didn't even took it seriously. In short, it was a fork of Dogecoin (and, please, don't tell me that's not true) with a Tor integration. Now I'm sure that I wasn't mistaken thinking that it's just another shitcoin. And the facts that this shitcoin could get to the top of Coinmarketcap's list shows nothing, but the crypto-communities illiteracy.
How it pumped?
If I'm not wrong, everything started with John McAffe's tweet making XVG "the coin of a day", which caused the coin's price pump and the growth of attention from crypto-community. And I must admit that these guys knew what to do with that attention... Not sure how things were before, but during last months they are just focusing on marketing, trying to create more and more hype, while developers were constantly failed the deadlines. All this, sooner or later, should lead to what we see now.
So, you know what? I'm not surprised now. I was surprised when McAffe wrote about XVG or when Verge's team did a successful fundraising or when it did +50% right after it, I don't even regret I've missed all that staying away from Verge.
What about XVG holders, this experience should show them, how important the discipline and proper researchers are.
That's all guys and girls, thanks for reading and following :)
Please, feel free to leave replies and share your opinion in comments!