There you have it. After a marketing and hype campaign that lasted for more than a month, you finally know it.
As you all know now, Verge announcement referred to PornHub, Brazzers, Nataku which are all connected to adult industry. They are all owned by Mindgeek, a very powerful tycoon in the industry, technically owning the whole porn world. According to various reports, currently, the porn industry’s net worth is about $200 billion.
There was a lot of drama and rumours with XVG lately about their adding to Ledger or community fund raising. Apparently, they used this money (or at least part of it) to get listed as a payment option, the so called "partnership", on the sites owned by Mindgeek.
Not bad, huh? After all previous letdowns, they've finally delivered, have they?
Look what happened next:
So, why did that dumping happen? Was the partnership disappointing?
No. If you are in crypto for longer time, you probably remember when community was buying on news. After some partnership or any other update, price would spike up. But it is 2018 now and the general rule is: buy the rumour, sell the news! If you're buying the news, you will become a millionaire but only if you are a billionaire already. That is pretty bizzare but that's how the market reacts now.
Now, look at the bigger picture.
Well, if you come to think of it, it is pretty huge news. There is a reason that porn and the adult industry is a billion dollar industry. Think of it - just because if you watch porn or these cam girls for free doesn't mean that no one pays for it. The same applies to the whole industry - else why would sites like Brazzers even keep producing content? It's not just the ads they sell, I can assure you.
But there is more that matters. The exposure that Verge is going to get. At the end of the day, it is all about adoption and adoption by your Average Joe. More people will probably know about Verge soon than your quality "coin". If cryptos are going to be accepted by other adult sites or cam sites or escort sites, then XVG will probably do better because it will already have a face by then.
What better way to spread adoption of a coin which is in fact a currency and not a stock in which you simply hold (like Bitcoin that is not used anymore - besides hodling- and is traded to manipulate). Cryptocurrencies were meant to be applied to daily usage, and what is a better way to begin than this? Pornhub and Brazzers are visited by over a hundred million people per day, and yes, many of those people do go there and view videos for free, but at the same time these individuals will be exposed to a new form of payment, a cryptocurrency called Verge. Not only is this form of payment better than credit card, since it can be sent through anonymously which keeps your transaction private, but also you don't pay interest on your purchase of membership. Overall, what we're trying to say is that this partnership is amazing for cryptocurrencies in general and for Verge itself. Billions of people will be exposed to crypto, and billions of people for the first time ever will be given the option of paying with Verge. If this is not mass adoption of a currency, then we don't know what is.
A lot of people are down playing the adult industry right now, but it’s a billion dollar industry as Pornhub and Brazzers owned by Mindgeek are its biggest players. In the porn industry, they are the absolute titans. If you look into a little bit, you can actually see how new tech and porn go in common. Porn helped the internet explode not so long time ago. They used things like VCR webcams streaming e-commerce and even digital cameras. They were early with VR too. Also, one thing we keep seeing is people saying "who pays for porn". You might not but believe but you know someone who does. But people who pay for porn aren’t going to tell you they pay for it, it’s a taboo industry. Some people are perverts, deal with it, even though we may not approve it.
The challenge is now.
Still, there is a long way to go for Verge and crypto in general. A XVG/fiat gateway is needed, so that people don't need to go through that tiresome and complicated process to buy Verge. At this moment, they would usually go to Coinbase, make a wire transfer, buy BTC, send it to Binance, buy Verge, send it to PornHub, pay for porn. Extremely tiresome. Perhaps Verge and TokenPay can sort it out soon? (some German bank rumours for TokenPay have already surfaced).
Like it or not, Verge has suddenly become a coin to consider for long term hodling, not just pure speculation. Especially, when some marketing comes along and the first post-dumping dust settles.
Tip: prepare to enter the Verge premises around 450-500 sat which is considered a bottom now.
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