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

Quidat

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Quote from: yigga on April 25, 2018, 03:33:43 PM

Quote from: btcblockchain on April 25, 2018, 03:31:04 PM

Verge create Fomo news which made market to respond fast than normal market got pumped and downfall in short period of time

The problem is that no one believes on Verge anymore, i am tired of always reading some "good news" about it and it is always going down, no matter what. That is why i decided to dump all my tokens during the last few months.

Good decision and even im on the situation too i would really do such thing. I dont trust XVG since from the start thats why i didnt bought this coin for longer terms. Currently seeing on the situation towards Pornhub partnership it do really turns out that they are cooking themselves on their own oil. Such step made by them which i do see desperate too much and now they do see negative rather than on positive ones on what they do expect.

yigga

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Quote from: btcblockchain on April 25, 2018, 03:31:04 PM

Verge create Fomo news which made market to respond fast than normal market got pumped and downfall in short period of time

The problem is that no one believes on Verge anymore, i am tired of always reading some "good news" about it and it is always going down, no matter what. That is why i decided to dump all my tokens during the last few months.

btcblockchain

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Verge create Fomo news which made market to respond fast than normal market got pumped and downfall in short period of time

valerie_zurich

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Valerie, spokesperson for cryptocoincharts.info

Quote from: teskostecenje on April 25, 2018, 06:23:00 AM

It doesnt really matter with whom they make partnership because in crypto price always goes down after some news come out about that coin in my expirience.You can earn a lot of money by shorting that coin few days before the news are out(or some kind of happening)for example i will short monero 2 days before the hard fork airdrop is on

Aside of Poloniex, what other markets allow to short altcoins? From my experience none have an extensive list.

teskostecenje

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It doesnt really matter with whom they make partnership because in crypto price always goes down after some news come out about that coin in my expirience.You can earn a lot of money by shorting that coin few days before the news are out(or some kind of happening)for example i will short monero 2 days before the hard fork airdrop is on

CptThomas13

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It may take some time before people realize this, but in the end, Verge made a good move with this partnership.
Well after any news any coin will get dumped,but in this case it was too huge

Buyingallcoinsz

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The partnership was revealed today and it was with PornHub. The community of Verge is trying to make this seem as a positive highlight but the market isn't pricing it well.

Im still believing in VERGE

TorbjornE

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The stock photography revolution

The coin went into growth. Perhaps Pornhub sold some of the coins received and the price temporarily decreased. Time will show the correctness of the team's actions.

ukloon

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This coin is turning into a joke. There was the 51% potential attack, now partnering with a porn site. It is hard to believe that people are still investing in an over-priced joke coin. Pump and dump is a good tactic for whales, but not worth buying for the average investor.

tamilcrypto

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Now a days #cryptocurrencies have started behaving like political parties. When there is a major scam involving them happens, they divert by marketing some controversial actions. For example in case #verge coin coming out of 51% act instead of addressing issues started promoting its partnership with controversial #pornhub. BTW who can be held accountable in decentralized environment???

Yuuto

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Huge disappointment for XVG investors for sure.

They already had some shady business dealings with their alleged Ledger partnership and now this. It's definitely some negative stuff for Verge team. They probably knew that nobody would appreciate a partnership with an adult website, that's why they hyped it up so much and sold it to the Verge holders as if something big is happening. Ultimately the only thing that resulted from it is pretty much a promo clip and PH's integration with XVG.

I don't think that price will continue to tank in the short term, since Verge always finds something to hype about. After all, it's literally just a pump and dump coin. In the long run though, I think Verge doesn't look good at all. Hype doesn't last the test of time.

bbc.reporter

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Quote from: alani123 on April 20, 2018, 06:09:41 PM

Quote from: KryptoKai on April 20, 2018, 04:12:41 PM

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.

alani123

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Quote from: KryptoKai on April 20, 2018, 04:12:41 PM

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.

KryptoKai

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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

2stout

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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.

masonrycrypto

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

prabakharras

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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

grimesrhymes

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Quote from: valerie_zurich on April 18, 2018, 07:17:01 PM

Quote from: Suslived on April 18, 2018, 07:06:54 PM

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:

Quote from: alani123 on April 18, 2018, 06:56:14 PM

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.

bbc.reporter

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Quote from: Suslived on April 17, 2018, 08:30:52 PM

Quote from: European Central Bank on April 17, 2018, 06:56:24 PM

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.

valerie_zurich

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Valerie, spokesperson for cryptocoincharts.info

Quote from: Suslived on April 18, 2018, 07:06:54 PM

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:

Quote from: alani123 on April 18, 2018, 06:56:14 PM

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.

Topic: How Verge's "partnership" tanked [-25%] (Read 629 times)