Okay, so I'm going to expose another scam coin in this article. This time it's not a lending platform at least...
For those of you who don't know; verge has required up to 75 million XVG in donations in order to launch the"biggest partnership in crypto history" on Tuesday April the 17th. This seems like a odd pre-requisite for a partnership announcement. perhaps even more curious is that even upon receiving the donations verge is still reluctant to announce the name of the company to which it will become a partner with. This is starting to sound like scam, but let's look into the website.
Lots of coins take donations, that doesn't mean much right?
For me personally, I believe that the single most important aspect of any business is the team behind it. With a team filled with quixotically named characters like "spookyKid and "CryptoRekt" the verge project is really nailing its privacy focus. In addition to denying their investors the opportunity for examining the expertise of the staff working on the verge project. Having a faceless team provided verge with the perfect opportunity to shut up shop and leave without a trace. This is classic of scams; Bitconnect, Davor coin, and Falcon coin all used this same tactic to escape with the peoples money.
So what you're totally wrong and I am missing a huge opportunity!!
Let's say I'm wrong... it's hard for me to imagine, but fine... Let's say verge's announcement happens on April the 17th, and the price goes up. Most investors follow the idiom: by the rumour, sell the news. For this reason, the bulk of price increase tends to happen during the lead up to an announcement. Announcements which generate a positive effect (ie. abroader use case for the token) will then often see a secondary price increase (typically to break a resistance level) as the news draws an increase of capital into the business. Therefore, my advice would be (if you have to) buy some verge now (what you are willing to lose), and sell this verge on Sunday night as we should see a nice increase by then while also giving yourself enough space between a possible exit scam event or news of a delayed announcement. The money you have profited from this event can then in theory be re-invested in verge given a positive announcement, or kept should verge blow up. Keep in mind that should verge crash the market may experience a small dip as a whole and so keep this in mind while position trading.
Always remember - bulls make money, bears make money, but HOGS GET SLAUGHTERED!! Don't be a hog guys!!
I'm 99% sure this ones a scam, stay safe, stay informed, and don't get scammed!
If your so willing to donate, why not to me? XD
Ethereum address (any ERC20 token): 0x15dFDafD261A263162178C994D7F78355B59dCca
Resources:
https://vergecurrency.com/verge-team/
