[XVG]~ The Price Of Anonymity (Stay Frosty)

in verge •  7 years ago 

What a time to be alive in the cryptosphere! When my coins are in the red, the pain makes me feel alive!!

#XVG: Break Past The FUD

Ive been following this coin for a bit now and I feel like I have a better grasp on why this coin intrigues me. Its the only privacy coin to be run on the TOR network. To be honest, I didn't know what the TOR network was when I first was looking at the coin.

#Tor is free software for enabling anonymous communication. The name is derived from an acronym for the original software project name "The Onion Router". Tor directs Internet traffic through a free, worldwide, volunteer overlay network consisting of more than seven thousand relays to conceal a user's location and usage from anyone conducting network surveillance or traffic analysis. Using Tor makes it more difficult to trace Internet activity to the user: this includes "visits to Web sites, online posts, instant messages, and other communication forms". The intent for Tor's use is to protect the personal privacy of its users, as well as their freedom and ability to conduct confidential communication by keeping their Internet activities from being monitored.https://en.wikipedia.org/wiki/Tor_(anonymity_network)

Im not saying that this makes the coin better than the alternatives, but a unique way to provide privacy for its users. This along with their offline wallets with Android and Electrum on IOS; I thought this coin would be a steal.
#FUD is Verge's biggest enemy. Though the twitter hack didn't seem to have much of an affect on its price compared to other competitors, it shows that #Verge is in a very hostile environment. They obviously have peoples attention, they just need to be looked at in the right light.

Exchanges Pushing Back On Privacy Coins:

Japanese crypto exchange #Coincheck will stop handling anonymity-centered cryptocurrencies Monero, Dash, and ZCash in the aftermath of the major January hack when $534 mln worth of NEM was stolen from the exchange, Cointelegraph Japan reported, March 17. https://cointelegraph.com/news/hacked-exchange-coincheck-drops-three-anonymity-focused-coins-after-fsa-inspection

With regulation cracking down all over the world; we could start to see more exchanges following suit. Privacy is a must, but is painted on a very thin line in the cryptoshpere. I could see exchanges not wanting to go through the hassle of fighting with governments constantly over these anonymity coins.

SO

If you are invested in this coin, make sure you keep an eye on how the world is regulating privacy coins. With hacks and fraud being rampant in this crypto-economy, privacy coins will continue to gather more and more scrutiny. Lets pray to the crypto gods that XVG will rise above.

Good luck out there everyone

stay frosty

@Popolo9thIsland

These are my opinions based on my research and is suggested you do your own to be truly informed.

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Good points; curious to see how exchanges deal with this going forward. I suspect an uphill battle for privacy coins in the immediate future

I'll act like a republican and give it my "Thoughts and Prayers" and blindly hold.....😂

  ·  7 years ago (edited)

As regulations tighten, so people will invariably look for cracks to slip through. Privacy is important, and sometimes very necessary. I predict a strong rise for privacy coins in the medium-term future. So hold on tightly to that ZEC, XVG, PIVX, Monero etc.

People might be looking for the cracks, but the exchanges don't want to deal with all the bull and push from the governments. If its not being traded, how do you see a rise?

Aha! Good question! And that's where another important type of coin comes in: Stock up on your NEX, NEXT etc. because decentralised exchanges will do that trading.

I was looking into NEO today lol. Aren't they based in China, and isn't china doing away with trading on exchanges? I still may dabble my fingers in there.

  ·  7 years ago (edited)

NEO are indeed Chinese based. It also happens to be my favourite coin and #1 hold. China have essentially banned exchanges (for now - they tend to blow hot and cold and have banned and unbanned BTC on multiple occasions). I am EXTREMELY bullish on the future of NEO, with or without China. NEO plans on becoming far more decentralised as it grows, so its country of origin will no longer matter.

But NEO founder and leader, Da Hongfei, has personally advised some VERY senior Chinese authorities with regard to blockchain tech. He has also future-proofed NEO by developing it in accordance with Chinese regulations. So NEO is fully legal, essentially protected, and perfectly positioned to Moon the second that China releases its death grip on a population of 1.4 BILLION crypto obsessed people!

I suggest you dabble those fingers sooner rather than later...

I see you 👍🏾
Good info, hope to hear more from you in the future.

I know a thing or two about NEO, and quite a few others. My portfolio is rather diverse. Feel free to ask any time. I'll tell you if I don't know.

Holding, and wishin, and hopin, and waiting.

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
DASHDash444.795$11.96%9.14%
XEMNEM0.283$3.23%-4.7%
XMRMonero214.985$5.39%4.08%
XVGVerge0.045$24.63%45.87%