I admit i was wrong and it wasn't an exit scam.
(Honestly...most of us thought this)
MindGeek when examined is a one track business (online/media which specializes in pornography)
BUT...it is a profitable one.
It has a virtual monopoly when you research all the sites it runs/owns (even PlayboyTv)
Now some would say...pfft who pays for porn?
Apparently alot of people do...for a company that had revenues upwards of 300 million in 2015.
Why the privacy coin...why Verge?
Easy...most people who subscribe to ad free porn services would want a "bill free" way of doing it. Viola...crypto works.
Verge obviously reached out to them...gave them the 50-70(im not positive over the #) million Verge to use for advertising...and PornHub has already started using it.
I doubt Monero/ZCash would have done this (donationwise)
(im a bit surprised BTCP wouldn't have tried it but coin price/coin circulation/lack of exchanges might have been a factor as well)
plus one thing...free advertising
Google ...PornHub...today... its everywhere.
(Brilliant for Team PornHub from a business standpoint...let Verge give the currency/pump the date...reap the rewards.)
So it's actual a good business decision?
Verge has been incredibly shady,using a kid in a suit for PR work (I remember you XVG Whale)...adding McAfee as a shill...
I mean as a guy who works in a hedge fund,after all this shit...
Its fucking brilliant.
It's like a bottom of the ninth home run from some scrub on your bench to win a game with a count of 0-2 & 2 outs...
Bravo Team XVG...whomever you hired to put this deal together did a great job at salvaging what i honestly believed was a soon to be dead shitcoin. (some even petitioned Binance to delist it before this)
See i look at it from a business sense...i look at bottom line.
Porn innovated the internet....
Might it be the first to forge crypto into the mainstream ...possibly.
(Keep in mind BTC/ETH were being accepted already on one of the other Mindgeek affiliates ,i believe the deal XVG offered was too good to pass up)
So is this a winner all around?
Crypto as a whole ..wins today...
Mindgeek gets a massive media push today....jumps on the crypto train...donated XVG to use for contests/etc.
Verge gets an actual partnership with a real corporation....not a "potential" one...or "still in development one"
Verge is off life support ...and should be ok.
Both win in this partnership.
I do like it.
For as much vaporware there is in crypto land...this is a actually a good deal for Verge and Crypto in general.
I compare this when Overstock started accepting BTC....babysteps.
I know its random but Check this out...Looks like the BCash crew(Roger Verr & CWS) are already hating on this partnership.
Mind you i dont own any XVG,nor plan to buy any.
Just an opinion from a hedgie.
Great video as always @Cryptovestor
btw check out LTC..i think that's something that seems stalled as of late in comparison to BTC price.
When did a merchant accepting crypto become a 'partnership'? Your local store doesn't partner with Visa to accept fiat payments. Pornhub literally getting paid for free advertising to their main demograpic.
Is verge a privacy coin? I thought wraith didnt work. Also you didnt mention the hack that they were going through, and how the hacker said there were more volnerabilities that they didnt mention that havent been fixed.