Verge has become a symbol of one of the most rapid increases in cryptocurrency history. Several-week increases of up to 1000% have attracted the attention of many investors to this token. However, such dynamic growth was also not without controversy.
McAfee what did you do?
Based on Bitcoin’s blockchain, Verge focuses on enhancing security, privacy, and anonymity of transactions. It uses TOR and i2p technology to achieve these objectives.
The XVG Price Rally started roughly at the same time as the John McAfee tweets, showing Verge as a cryptocurrency “which can’t lose.” From December 13th to the 21st –seven days– it gained 800%. This has generated great interest among many people in the crypto-community.
I am inundated by people asking me for recommendations on cryptocurrencies. If you would use your heads you would figure out that the privacy coins (anonymous transactions) will have the greatest future. Coins like Monero (XMR), Verge (XVG), or Zcash (ZEC) cannot lose.
— John McAfee (@officialmcafee) December 13, 2017
The Christmas adjustment did not turn well though, for Verge. Its price has changed dynamically in recent days. On the wave of these events, a questionable post appeared on a Reddit portal, which undermined the cryptocurrency’s position.
Verge accused of not having a team
One Redditor, fireguy7, published a post forum in which he claims that Verge has only one developer who has not been communicating with the team for more than two months. The rest of the team, who left the project, are marketing people. The developer did not even have the Wraith update that users are waiting for.
Fireguy7 also argued that Verge is the largest pump and dump scheme in history. To support his theory, he quotes comments by Kieran Daniels, former Vice Director of Marketing, and refers to articles published on other portals. All of the arguments are based on the allegation that the lack of a team with such an advanced project is a failure.
The other side
The post mentioned, “potential FUD” (FUD – Fear, Uncertainty, Doubt). It is likely that this post was written only to undermine the authority of the XVG.
The XVG Whale, an influencer associated with Verge, stood up in defense of the token. XVG considers this project to be extremely valuable. He also said he knew the creators and knew how involved they were. Verge’s team also spoke via Twitter, saying rumors of a lack of contact with programmers are untrue, and the person who spreads such rumors aims to panic and upset the XVG price.
There are rumors being spread on the internets that @justinvendetta hasn't been communicating for long time and that #WraithProtocol isn't real. This is utter non-sense and pure FUD in attempts to create panic and bring down #Verge price and reputation. Things are on track.#xvg
— vergecurrency (@vergecurrency) December 26, 2017
What is your position on Verge, do you believe in this project?