If you are into Cryptocurrencies than you will know that hundreds of them exist. Big names such as Bitcoin, Ethereum, LiteCoin, Dash, Ripple...you name it...all coexist in the crypto world. Now there are many small coins as well that fill specific niches and are targeted for specific use. However, in this post, I want to focus specifically on Verge (Ticker Symbol: XVG).
Note: I do have an investment in Verge and the information I dispense here are my logical thoughts and reasoning as to why I believe Verge will create millionaires. This is not financial advice. Please always do your due diligence before making any investment (stock, bonds, forex, crypto, etc.). I solely felt compelled to perhaps dispense a bit of my reasoning as to why I invested and am holding Verge.
I do not fully know the history aside from bits and pieces through googling and reading things such as a name change from DogeDarkCoin to Verge. However, having gone through lots of material, their blackpaper and other comments and posts including here on Steemit (use the search bar up top!) I feel that this is a "hold" investment and the opportunity to get on board is now!
If you are a day trader and looking to pump and dump, buy and sell for a few cents profit - I recommend that you read no further. However, if you want to make a serious investment, regardless of the sum than do please read on. I am a numbers type of guy, yet before I get into that let me dispense a few thoughts on why I think, again, note that I mention "think" as the key word here. I could be completely wrong and note that this post is not to hype the currency. I'd rather see strong and continued growth and a big pay day, than just a few cents of profit.
I've read lots of comments, watched a few videos and have seen lots of price speculations on Verge however one of my favorite articles is this: https://steemit.com/cryptocurrency/@tobeingawhale/verge-price-prediction#@hermannk/re-tobeingawhale-verge-price-prediction-20170801t093545788z
You see, Verge is a cryptocurrency that has a strong focus on full privacy. Implementing Bitcoins original vision. Now there are a few anonymous coins out there like PivX, Dash, ZCash and Monero however they are not (yet) at the level at which Verge is at in fulfilling the promise to make a full private currency with a public ledger. I believe that the vision the team around Sunerok (main developer) has, ultimately will break into the mass market. As governments and companies begin looking towards cryptocurrencies as methods of exchange, their will be a market for full private transactions and contracts. That is what this currency is geared towards.
I don't want to dispense random words such as this will be the next Dash, or this coin will make you rich. I really believe in the functionality of what this coin and its technology has to offer and how it can be used in day to day transactions. Over the recent weeks $XVG has been getting good support in regards to development and though it may be behind their roadmap, I believe Sunerok and team are hard at work to make their vision a reality. As an investor, the prospect of making a return often goes above everything else, yet this altcoin has the potential to match itsself and lock onto a viable fiat exchange rate to make it adoptable for the masses without prying eyes of the government and others. Now this doesnt mean you shouldnt pay your taxes. This simply means that what I do with my money is my business. I feel that the community is steadily growing around Verge and albeit no marketing is being done actively, their progress shows - steadily.
Now you may argue that the price of $XVG is flatlining around 106 Satoshis however, again, this is an investment for the long term. Not mid. Not short. Not to make a quick buck. A 10 USD investment today will get you ca 3321 coins. If in 6-9-12 months from now, Verge MAKES it, to a price point of .10 cents your ROI is 332 USD which is a whopping 3220% increase! And dont start me on "yeah, but if it goes to .10 cents than market cap will be bigger than bitcoins, etc." Look, in the Crypto world anything is possible. Look at all the coins that have gone from bare nothing to fractions of a dollar. Had you invested in those (I am talking about a few hundred USD) than you could probably quite your day job today and be a full on Crypto Broker.
Nonetheless, Im getting a bit off the point so let me throw a few pointers out there:
- Verge uses the Tor network, which helps against traffic analysis or in other words surveillance
Check this bit out - its from another article here on Steemit (https://steemit.com/cryptocurrency/@saul.alv/verge-xvg):
"Verge uses the Tor network, which helps defend against traffic analysis, a form or network surveillance that threatens personal freedom and privacy. Tor protects you by bouncing your communications around a distributed network of relays run by volunteers all around the world. It prevents somebody watching your internet connection from learning what sites you visit, and it prevents the sites you visit from learning your physical location. As a result, Verge users can comfortably send and receive transactions of Verge over the internet with the assurance that the currency trail is virtually untraceable by attackers, government agencies or anyone else for that matter. You can send and receive funds almost instantly, without the slow confirmation times of Bitcoin." - Verge ensures all transaction are fully secure and truly anonymous
- Verge uses the i2P network
From same article as above: - "It also uses i2P network, a garlic routing using overlay network and darknet that allows applications to send messages to each other pseudonymously and securely. Uses include anonymous web surfing, chatting, blogging and file transfer." - Verge offers several wallets including mobile wallets that are fully anonymous. On top of this you have an electrum wallet.
- Roadmap of items to come include:
- i2P Android Wallet
- New Core Wallet Release
- RSK Smart Contracts
- Wallet UI Overhaul
- Merchandise Online Store
- Verge Transfer Over Discord Service
- Verge Transfer Over Telegram Service
- Official Verge Multi-Algorithm Mining Pool
- Upgrade Electrum Client Codebases
While the crypto landscape changes drastically, the roadmap publicly available is fairly limited. Yet this shows active development around the currency.
Ive read in several places, July should have been a great month. But yes overall the currency is still lacking that shine. However that is why I believe this is a great coin to get into right now and simply "hold." And aside from any technical analysis, candlestick charts, etc, my gut feeling tells me that over the coming months, yes months we will see some movements. I mean picj a coin and simply look at its history. Verges needle just began moving. The record needs to get rolling before reality picks up and says "hey, this coin is it" and investors begin jumpin on left and right.
Now I know I didnt dispense and new or exciting Verge news, however I felt compelled to write down a few thoughts. This coin will make a break through (who would have thought that Amazon would go from 7 USD a decade ago to 1000 USD or Bitcoin would make millioniares with a 5 USD investment?).
That being said, due your due diligence. Do your homework. There is still not a lot of information out there on Verge, but as mentioned I feel that it continues to grow, develop and the community behind it is slowly catching fire, and by slow I mean slowly but steadily. This is going to be an Amazon for investors in the crypto world who are willing to wait and believe in the cause. Pay day will come and once market adoption hits and other devs start contributing on Github to the project, youll see this coin make its mark like several others before it.
Thank you for taking the time to read this post and hear my babble about Verge. Let me know your thoughts below!