XVG has been a shady cryptocurrency from the start, yet people have trusted the lead dev and it has been holding up in the top 20 cryptocurrencies for some time now. It was big news when John Mcafee supported XVG in his tweet about privacy coins. When asked if he was joking he simply replied that he isn't.
Fast forward to the present time and XVG has had a successful crowdfunding campaign where they asked investors to donate over 75 million XVG so they could announce a "huge, game-changing" partnership. If you know how partnerships work you will know that it is a bit odd for someone to ask for money just to partner up with you but let's just assume that this is true.
After the successful crowdfunding campaign, we have records that 3.5M coins have been moved to an online exchange.
After this was brought up at the XVG subreddit one of the mods replied: "The money is being used on the integration of the Nano ledger".
This would all sound fantastic if we didn't have one major issue. Fred de Villamil, VP of engineering at Ledger has dismissed these claims with a clear statement that this is a process that is completely free and requires no funds.
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The mods in the XVG subreddit have remained silent to responses from people who brought this tweet up.
/u/bitchip is the CTO of Ledger and has confirmed on Reddit that he has no knowledge about anyone from his team to be working with XVG.
In this whole mess, XVG holders have a date and hope. That date is 17.04.2018 when the XVG team should announce their "huge, game-changing partnership". Obviously, some of them are pissed because people started asking questions so the newest post in the XVG sub states that there is contact, April 17th still stands and hopefully, the "trolls" didn't damage their relationship?
I just have to take a second here and reflect on that statement. First of all, the post is pointing to a tweet where the VP of engineering at Legder confirmed that there was contact. They replied with a standard email, just like they would reply to you and me and it all ended there. What partnership can be damaged here? The service these people are hyping up is free and anyone can acquire it. There was no relationship to be damaged in the first place!
My final conclusion: This could be the worst scam we have ever seen in the crypto world so far. No one is hiding tracks and everything is completely shady for some time now. If we do end up seeing an exit scam it will be underwhelming because we have seen it coming for a loooong time now.
Another thing could be going on. Overhyping simple things to get their hands on the 7M coins from the crowdfunding. It is a less likely outcome but it is still possible. No big partnership but they still deliver as promised on April 17th by announcing a "parthership" that was free from the start...
I do have my popcorn ready and can't wait to see how this all unfolds two days from now. I would say sell all your XVG now but I am no financial advisor. Your investment is your responsibility, not mine...
And if by any chance, we don't see an exit scam, where would you bury your head, since articles on steemit cannot be deleted/removed and are here to stay FOREVER? Well I guess we are about to see ...
He doesn't need to bury his head. Cause he has valid points backed by facts. I don't think verge is a scam. But the issues he raised are very real.
I never said that it is definitely an exit scam but it does look like one. People should be warned about red flags. Or should we all just look away and ignore the warnings?
Xvg the king of all shitcoins
Which means.... John Mcafee doesn't have a clue about the coins he has 'reviewed'.
We all knew that idiot was a. Clown.
He had Dgb as a pick as well.
You said it!
I sold my Verge two days ago. At least I made some money on the pump. :-D
Not to mention, XVG is only a fork of Dash with "privacy" features which have been proven inadequate. Source:
https://hackernoon.com/why-verge-is-a-scam-and-fails-to-offer-real-privacy-6fbcab232fb5
And that they were "hacked" recently. Source:
https://cointelegraph.com/news/cryptocurrency-verge-responds-to-hacking-claims-by-launching-accidental-hard-fork
I read this before but saw two sides of the story your only shows on side. In the interest of fair report hear is the fully version of the Twitter conversation: show that Ledger diid at some point charge for integration.
Do not give a dog a bag name to justify killing it.
used on my youtube mrsotko. told everyone to upvote this post!
Thanks for the support man. Just pointing out the obvious.
Nice analysis of the situation. I'm curious as well as to what will happen on the 17th.
People's greed is endless. It will follow Bitconeeeect.
"My final conclusion: This could be the worst scam we have ever seen in the crypto world so far."
The only thing I'd have to say to this is.... BITCONNEEEEEEEEEECCCCCTTTT!!!!
Well sorry to say that but Verge is good. Even on Bittrex check out what can you buy with USDT... there are only few coins and all are good coins.
Yet another lazy and inaccurate article. About 24 hours behind. Perhaps you’d like to revisit and correct?
As long as I see tweets like this one there is no need to revisit or correct anything.
Like Verge is accurate and not behind :DDDDD Who needs Verge when there is Monero? WHo needs idiot noob criminal dev when there is bazillion coins with good devs.
Some days ago I x3 my money with verge buying while it was 450 satoshi.. and Bitcoin was 6400 ;D where is monero at? When it will be 190 again to x3 my investment ;D
Waiting to get out of our position in XVG asap. Thanks for the article!
I don't think they'll exit scam but Verge is supreme shitcoin anyways, expect Big Dump once the "big" announcement turns out to be a dissapointment
Announcement is not a disappointment, still dumping though ... bullish trend atm though
Something smells off I'll give you that. I still can't believe that dev teams think people aren't going to dig into things. Even as you say if its just a disappointing partnership, over-hyping just annoys people.
Its stuff like this that makes me lean more towards projects like ARK. But lets see what the announcement brings.
Only Dentacoin is a bigger shitcoin.