The real joke-cryptocurrency is Verge (XVG), not Dogecoin

After rather bloody previous couple of weeks, Verge price has been showing signs of life as of late. Falling down from the July highs of $0.027855/421 satoshi, the currency closed off the month with lows of $0.024600/319 satoshi. The drop continued into the month of August, when the currency recorded the lows of $0.010284/170 satoshi (on the 14th). XVG’s price broke out slightly after that and went into a sideways pattern once the run-up came to a halt.

Currently one XVG can be purchased for $0.013859 (7.67% rise in the last 24 hours)/206 satoshi (5.10% rise in the last 24 hours). Daily trade volume is rather low as it sits on 956 BTC, most of which comes from Huobi (52%) and Binance (26%). A market cap of $210,274,372 makes Verge the 41st most valuable cryptocurrency on the market.

[vcw-full-card symbol=”xvg” color=”grey” currency1=”USD” currency2=”BTC” currency3=”ETH” url=”” target=”_self”]

Trader fibonacciaustrian gave us the technical analysis of the currency:

“Well I did say 150 the last time, and now I say 175 to 150 1st stop unless BTC spikes and moves up. If the above range does not hold we go toward the 127 mark. Lots of people bought the hype of the
23% spike and if they didn’t sell, they are at a loss or barely holding profits.” 

The currency didn’t exactly wow the community with strong updates in the past, and this pattern seems to be continuing. A development update #3 was recently released by Marvin Piekarek, the man who apparently serves as the current stand-in for Justin Sunerok (the project’s founder and lead developer), who has last appeared in public life about 4 months ago. Sunerok’s disappearance comes as somewhat of a shock, considering his previous level of engagement in Verge-related promotional activities. The mentioned update gave us very little information and honestly seems like an insult to the intelligence of the average Verge owner.

The first point of the update that was addressed was a Twitter poll Mr. Piekarek conducted to find out what was people’s “most important goal” for Verge. While community polls aren’t something to be frowned upon per se, Verge community has been crying for codebase, wallet and RingCT updates for months now and to see their lead developer make an out-of-touch poll like this one tells you how much the team (or what’s left of it) actually cares about the voice of the holders and supporters.

The response Mr. Piekarek had to the poll was rather hilarious, as he seemed baffled by the fact that people want info on the new codebase:

“Here we discovered something interesting, we believed that people wanted the desktop wallet after the new codebase. But before the results were in we quickly saw that people were voting for a mobile wallet, the iOS wallet. Even though it finished in second place, the iOS wallet surprised us,” said the Verge developer in his best broken English.

He then claimed the team has graciously made the decision to “listen” to the community and work on the iOS wallet, even though it was supposed to be up and running at the turn of the year. He then claimed the project will consider codebase development their no.1 priority, while leaving desktop/android wallets for 2019. Really makes one think how strong the Verge development team efforts were so far if they are “just starting” work on the new codebase.

Piekarek addressed the second point of the update: the technical storing of keys. He basically served a lot of “we don’t knows” and “we are doing researches” here, confirming that the team doesn’t even know how to store the private keys of the iOS wallet that was supposed to be released months ago. He also noted that the iOS wallet is having work done on the “recipient generator” and “the sending transaction screen”, calling these two minor code commitments “good progress” since the last update. But perhaps I’m being a bit harsh on the developers as they make a third minor commitment by redesigning the address book of the desktop wallet during this time frame as well.

The entire update is full of grammatical, spelling errors and this is frankly what everyone expects from Verge at this point. You can read the full publication here if you are feeling masochistic but make sure to give them some “epic or legendary” feedback; do not leave any bad feedback as Mr. Piekarek points out they don’t like that.

?Dash compared to bitcoin and Monero compared to bitcoin shows you advantages and drawbacks of BTC in comparison to most known privacy coins.

Not much else has happened around the currency. What’s worth saying is that their admittedly impressive list of vendors got expanded by two more companies. NetCents, a merchant gateway, now allows Verge coin holders to spend their cryptocurrency at a number of merchants that accept Visa or MasterCard. Positive news for the coins liquidity indeed; but then again you have to question if there were any “pay to play” payments behind the scenes made by the Verge team, something that was alleged for almost every vendor that brought them aboard after Pornhub. It’s also questionable how many Verge holders are ready to spend their tokens at the moment after said tokens lost more than 90% of their all-time high value. The second vendor that started accepting the currency was a hot-sauce making company called PexPeppers.

So, will this spicy new merchant, along with other mentioned updates help Verge restore some of the fire the currency had before its price and reputation plummeted? Seems highly unlikely.

Would it be smart to get out of Verge (if you’re holding some)? Probably, because this coin is not designed for long-term. And if you take off your confirmation-bias glasses and remove your emotions from the equation, you will see this is a joke of a project lead by total amateurs and dilettantes.

Correction: The author of this article previously referred to Justin Sunerok as the CEO of Verge. This was a mistake that has been fixed.

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Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

  1. Seriously, what a load of crap. FUD patrol at it again… It’s 2018 performance speaks for itself unless you bought at the top.

  2. I think you meant to say. “I apologize for my clearly emotional, and prejudiced article on Xvg. What I meant to publish was.
    In crypto news today let me apologize to Justin Vendeta and the entire verge community”.
    A lot of people have a lot of misinformation on xvg so I’m going to take a moment to address your readers the way you should have without emotion and facts.
    Sunerok is not a or rep he is a developer. Don’t believe me then answer why else he is sought after to advise on crypto projects. You realize Derek Capoo the CEO of token pay holds him is such esteem he not only funded over 70 percent of the Pornhub deal he also enlists Sunerok to audit his project.
    Moving on while pointing out Xvg and it’s price decrease it’s impkrtant to remember two things the first being nearly every coin is down it’s the end end of a bearish run.
    Back in March Sunerok the lead developer of Xvg not the ceo told the community he was going to make an announcement. He promised that the announcement would change the crypto world forever. He said something to the tune of potentially can be top 10 in market cap. Please don’t quote me I’m unaware number.
    Full disclosure the announcement was huge. Honestly I can see why some are upset the way the announcement was handled. I was upset for all of 10 minutes until I realized the beauty of it all.
    Get out your notebook I’m sure you have one labeled responsible journalism a class you failed to take… you may need to rethink your prejudice against Xvg. I’ll do my best to explain. You expected moon shot over night it didn’t happen. The first thing you learn in this game “buy the rumor sell the news” The error in all of our ways some much longer than others is you lost track of the ability to step away and look at the board. Your eyes were on a overnight moonshot. It’s like me saying hey come to this restaurant it’s amazing I’ll oay then I offer you a breadstick, and walk away . You sit for hours and hours with the agony building checking charts wondering why,how this isn’t doing the exact opposite of what you wanted… This is why you bought the news.
    Take a breath now look at the board in order for mass adoption of Xvg the asset needs visualization on a global scale. Like it or not arguing that Xvg isn’t globally recognized is foolish. That’s step 1
    Step 2 Once mass adoption starts how do we protect and gain investor faith. Xvg is upgeading it’s coding to the industry gold bar. While the verge fam is out making sure people have places to spend there Xvg when value increases they are adding new merchants everyday including Pundix pos putting Xvg in thousands of storefronts.
    Wait it gets better while the journalist who got paid to feed you the rubbish he just tried to throw down your throat like complaining about where Sunerok is he clearly forgot somethin. The community does polls because we have no ceo this project is driven by tens of thousands of committed people there isn’t a ceo.Sunerok on top of making sure your investments are safe from hackers, is also in process of implement Rsk into Xvg. Go read about it with newest coding,rsk and new wallets,combined with the recognition Pornhub got along with securing merchants world wide, Xvg will soon be getting its own debit card. You saw Pornhub as the end / next time you invest don’t let emotion dictate your journalism. You have a responsibility to your readers.First comes recognition second gateways to use while implementing the newest lines of security and blockchain tech not just now but forever because Xvg is built to grow with.blockchain I’ll ask you how do you not see it in the future being exactly what was promised?

    • Da fuk?
      What a quasi-religious ranting…

      The writer of the article is completely right. XVG is building on false hype and on suppressing ANY opposing opinion, instead of just performing well and stressing problems quickly. VergeFam is paying and will pay for this ponzi scheme, all you believers are dupes. Have fun.

    • I do not own any XVG.

      Everything I reported in every XVG article I did so far were cold, hard facts. It’s not my “responsibility” to twist those facts to give XVG investors their daily hopium shot. Every single piece of information you presented in your short essay has been debunked by notable crypto community members who have no interest in bringing XVG down but also have no interest in seeing people get scammed. You wrote this diatribe in response to the article and you are calling me emotional. Stop and reconsider who you should be directing your anger at. Best of luck to you.

  3. You asked for a pic feedback be careful what you wish for the only joke that I’m seeing or remotely trying to understand is your ability to expect anyone to take this article seriously clearly you missed the lecture on responsible journalism wherever you were educated my advice go back to school.
    Unless I’m missing the humor and you’re trying to be funny but lying I apologize case in point Sunrock is not the CEO for for verge mis the lead developer. Not only is Sunrock the lead developer purge he is very well respecteded in the crptoworld
    No that wasn’t funny I’m still not getting it maybe it was when you insinuated that XVG is paying merchants to accept them. Too bad you’re emotionally prejudice played at my you offered to disclose XPG is lesser-known partner while clearly ignoring the fact that they recently been integrated into pundit POS systems and XVG will now be able to be used in thousands of storefronts.
    Wait that can’t be it maybe it’s your complaining about the social media post on Twitter what shall revert back to my first argument XVG is a community that pole decided the direction XVG would take to prioritize projects

    Wait that wasn’t funny I know I finally get it your Your article that you spent hours on and it’s hard to discredit Birch actually just put it in yourself porn hub back in April wasn’t there and it was the beginning purge made a promise to change the crypto world they made a promise to make Burger household name they made a promise to Help Dr., Miss adoption and they made the petition have a top tank has no sir the joke is on you porn hub person and it was beginning now that purchase globally recognized the purge Pam is out riding in this adoption while Sunrock is behind the scenes implementing the newest coding to make XPG secure on top of that is also in cementing RSK and bring CT into XVG itself that combined with the talking pay partnership new merchants coming aboard every day in soonInseam to come debit cards I am courage you to go invest in Xvg if not the joke is definitely on you

  4. What? You’re upset they are listing to their community? The team is open source volunteers not corporatists like xrp. Not to mention I have technical analysis too but mines showing highly bullish sentiment long term. The fact that the team is consistent working on improving on their communication, PR and codebase shows me great potential. Not to mention they are fast outpacing most coins on adoption. Remember the coin exploded because of its privacy tech not because it didn’t spell words right on its poll tweets. This is group think, myopic analysis on a coin that is set for a bull run once BTC settles.

    • I, and many more, have previously addressed every single one of your points. If Sunerok going radio silent (after months of being a full-on Justin Sun clone on Twitter) and leaving an Eastern European lackey that struggles with proper English to make community polls about issues that community has been crying about for months looks like good PR to you, I have nothing else to say.

      • An Eastern European lackey. That sounds to have racial undertones. Point is you refer to Sunerok as the ceo of XVG. He isn’t the CEO this is a blatant lie.
        Your trying to make the coin seem negligent by saying the coins Ceo is silent again there is not a ceo what you are writing is not fact it is a lie.
        I can reinforce your motive when you absolutely detail a lesser known merchant, instead of the two tremendously huge deals that just took place putting the ability to use xvg as payment in thousands of store fronts.
        The only fact I see in your article is how clearly negligent you are. Above I am telling you the facts to counter your blatant misrepresentation of Xvg in a whole.
        Fact this article is trash and the only joke here is the person trying to cast doubt on a project people much more successful then him believe in.

        • Dobrica Blagojevic August 28, 2018 at 09:34

          Calling Sunerok “the CEO of Verge” was an honest mistake that has been corrected, I apologize for that.

  5. garbage article. 90% of alt-coins are garbage, including XVG. but cheers to XVG for trying to increase daily use. Implying it is the most “joke” of a coin is pathetic. many worse coins (though the coin sucks). stop spreading FUD because youre salty about something. Sure, XVG is down. every coin is

  6. What do you mean no one implied XVG the “most joke” of a coin. The article is literally titled,

    The real joke-cryptocurrency is Verge (XVG), not Dogecoin

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