Why I think Verge is bad

Verge, The only Cryptocurrency that allows you to spend anonymously on "every day" wanking.

Pornhub and Verge the unlikely match made in neckbeard heaven have FINALLY come out with their greatest surprise since Bitconnect didn't quite make it to the moon, Let me tell you what all that money you donated for some reason to hear the announcement that you can in the near future use Verge to pay your favorite adult actor or actress for all the hard work and effort they put into getting your rocks off.

 

I thought we'd start this expose on a lighter note as it gets sad, deceitful and rather dark as move closer and closer to the true nature of what Verge as a commodity really is like.

Verge like many other coins when they first start have humble beginnings, Verge before it was known as verge was called "DogeCoinDark" it was created in 2014 and rebranded in 2016,  While most of this is common knowledge at this time, however; What many may not know is that a lot of Verge's code is copied from another coin called "OpalCoin", which was a pet project of "Bitcoin Kid" a 14-year-old Cryptocurrency Dev.

Stealing is bad enough but from a kid?, C'mon!

This error in morals could also explain the swiss cheese-like holes in its privacy and security protocols that allowed a hacker to trick the Verges blockchain to mine their blocks at incredible speeds with a spoofed timestamp and was able to mine over 1 million dollars in verge, the Devs bless their hearts did attempt to fix the bug. . . by what seems to be that of a copy and paste fix originally made by Peercoin Devs, another decentralized coin that had similar problems with easily fudgeable timestamps, this is an image of the fixes made here

Can you spot the difference?

Can you spot the difference?

15 minutes might perhaps be too long considering the Verge blocks average 30 seconds.

as can be clearly seen,  virtually no changes are made to it, just what seems to be nothing more than a simple copy and paste.

I bet you can see where this is going, that's right it royally screwed up the blockchain  due to not actually coding any patches or updates specific to Verges coin scheme the Devs inadvertently cause a hard fork that disconnected everyone from the blockchain therefore completely invalidating both the new fork and the original blockchain all in one brilliant move.

You'd imagine being that very Dev who put this "fix" into place, you'd probably stress out and do your best to fix your mess, But That's not how verge Devs roll No, these Devs play it cool and get some rest before fixing the dumpster fire they initially started.

At this point, some of you might think, "you're being pretty negative, man." and You'd be right in that assessment because when I find someone or something as being false, dishonest or incompetent in ways that are clearly avoidable or perhaps could be seen as deliberate, It really grinds my gears.

It gets worse, As I eluded to earlier Pornhub and Verge have made some sort of partnership where viewers can use their "Privacy coin" Verge to tip or pay their favourite actors/actresses or channels in verge. besides the issue of trying to build paywalls around what has been free and widely available for quite sometime now isn't my sticking point, in fact I prefer the idea of having to pay the actors and actresses you jerk off too for their hard work and dedication to something most couldn't do, but I digress.

 Verge's most recent "Partnership" announcement seemed like a money grab to me, essentially the partnership for whatever reason was held at ransom for an undisclosed, vague amount of verge before being announced and on top of that even if the vague goal wasnt met the money donated would NOT be refunded but used for other projects which again isn't explained well, I am no expert in partnerships I'll admit but usually partnership announcements don't require money to be implemented let alone to be "announced" or "sped up", partnerships should be mutually beneficial  and anything else should ring alarm bells, weirdly no other good reason was given, everything I found about the announcement itself was portraying it as a big deal and encouraged Verge holders to invest in this "group/community fund" and reiterated the fact that the announcement could only be made after the goal was met, what was also odd was the movements out of said fund to exchange sites

 further cementing my doubts.

Alarm bells should be sounding off right now.

While the alarm bells are going off, I thought I'd continue my incessant complaining and move on to Wraith Protocol, The highly anticipated Verge Wraith Protocol was confirmed for release before 2018 by the developer, Sunerok. The proposed features influenced many to invest in XVG during the lead up to the new year, expecting Verge's price to take off once the update hit. This update to the Verge cryptocurrency was promised to include more privacy options for users and Most importantly, the Wraith Protocol was meant to allow users to switch between making transactions on either a public or a private ledger, drastically increasing the potential use cases for Verge. However, once the midnight deadline passed and nobody had heard a word from the Verge team, there was Panic in the air.

The word in the Twittersphere during the lead up to the new year was the Wraith protocol was smoothly sailing to its deadline and look ready to launch according to the aptly named @XVGWhale as this investor had personally met with the devs and had seen the update for themselves which of course built the hype even further. 

After investors waited an agonizingly long 10 minutes for a response from the Devs they finally got a tweet that stated that we're almost ready and had a "small issue" to fix, 6 quick, "bearish" hours later and the update was released but unfortunately it was very buggy, only OSX was released and another 11 hours later the windows version was released since then, numerous bugs have been found in the different versions, just 2 days after release there we over 25 major issues with protocol update, I guess it wasn't as ready as XVGWhale and the Devs originally thought.

This is not the first time that the Verge team has missed a deadline; it’s not even the first time they’ve missed a deadline for the Wraith Protocol update. The New Year’s deadline marks the third time that the Verge team has failed to deliver the Wraith Protocol. The previous release date was set in November, where Sunerok had mentioned he was already compiling the beta for Wraith protocol. Oddly enough, even though the beta was ready two months ago, the eventual 2018 release failed to meet expectations.

I bet you think it couldn't get any worse? well sorry but I'm about to spoil your day as the wraith protocol update didn’t even deliver what it claimed to. Xvg.keff.org is a website which connects to a public Verge node that records the transactions it detects. Being able to access and log transactions isn't abnormal, but the problem lies with the IP addresses being shown. As you may be aware, Verge has claimed that the Wraith Protocol would make it so that all Verge transactions are routed through the TOR network, hence hiding user IP addresses. The IP addresses are shown, unfortunately, are not TOR IP addresses – they are in fact the unhidden IPs of users. You can easily check this for yourself by visiting  TOR nodes and comparing the IPs shown. With visible IP addresses, all of the other privacy features of Wraith protocol such as stealth addresses and the private ledger are essentially useless.

All bitching and jokes aside, I wouldn't disparage someone in trading or in using verge, I have and I made a good bit of money from it personally, My issue is if you believe in what Verge is or trying to be then I think your being naive, I understand that my thoughts and feelings on verge can be quite negative but its for good reason, this space in this time is volatile, dangerous and anarchic. which means naive people will fall into traps, these traps don't have to be purposefully made but that doesn't make it any less painful. 


If you want to trade in Verge, make sure you understand how it works, like any crypto-currency you wish to invest in you have to find good sources of information, if you get anything out of my armchair-like complaining then perhaps its this recommendation, CoinCentral.com and more specifically Bennett Garner's article on Verge; 

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Verge is interesting insofar as it’s a decentralized, open source project. However, its lack of formal structure could also be a drawback. Most serious crypto projects these days have a foundation behind them leading development and setting a roadmap.

The project also needs outside review. While many of the technologies they’re implementing have been tested elsewhere, Verge could use a dose of legitimacy from an independent source.

They also don’t have the same kind of resources as their competitors in the privacy space. Monero, Z Cash, and Dash have hundreds of collaborators on their Githubs. Verge only has 12.

That said, hiding IP addresses is an important frontier for blockchain anonymity. If they can solve anonymous smart contracts, that would be a unique breakthrough for the space.
— Bennett Garner, CoinCentral

 

It's an easy to follow, honest write up of Verge and what it is and its intended use, I recommend giving it a read to get a different opinion and a more indepth look at Verge, don't ever take the opinion of just one person on the internet, please for the love of netflix do your research, I cannot stress that enough.