Verge is What Bitcoin Was Meant to Be
Lately I have been disappointed in what has become of Bitcoin. This first started when the goal of being a currency was dropped because of the slow transaction times. The idea of simply being a 'store of value' is a downgrade of what Bitcoin was created for. Recently Bitcoin has become downright frustrating with +$20 transaction fees and I posted a transaction that took two days to complete which caused me to be fed up with Bitcoin. This at a time when it was fetching $18,000 a coin, at these prices Bitcoin is overvalued in my opinion and as more and more people see it for what it has become the demand for it will fall and so will its price.
With my frustrations of Bitcoin I spent some time researching alternatives and one currency that I believe lives up to the promise of Bitcoin is the coin Verge. Verge aims to be completely anonymous and because it uses Tor it achieves this full privacy. In addition Verge transaction happen quickly as they claim transactions happen within 10 seconds. Finally the transaction cost of Verge is about 1 Verge per transaction which at current prices of $0.20 is reasonable. The price of Verge has been accelerating upwards so the cost may also increase but at current prices or prices under $1 I think it achieves its goal of being a low cost currency. Bitcoin may have failed to achieve its original promise of being a fast, low-cost, private currency but alternatives have arrived and Verge appears to one that aims to achieve these worthwhile goals.
Verge is a great coin. What do you think about Raiblocks(XRB)? I have heard about it being as a replacement to Bitcoin due to its fast transfer and minimal charges.
I haven't heard of Raiblocks (XRB) but I will look into it. I think a coin that achieves the three goals of being private, fast, and low-cost is achievable and if it can it will grow in demand and actually have a shot of replacing the fiat currency system we have.
Must look into it. I read it taking less than 3 seconds for transfer. It is only on Bitgrail. I think when it will be on Bittrex, Binance or other popular exchanges, then it will be in the top 25.
Thanks for introducing verge but i strongly believe bitcoind still has a chance of soaring once again,it might take some time but it certainly will.Nice post.
Bitcoin does have the opportunity of correcting the issues that have developed and so its dream of being a private, fast, low-cost currency can come to fruition. It's just in its current state it is not doing this and so some change is needed to getting it corrected.
Exactly! This is what i have been saying. That BTC developers and all that are changing what the CURRENCY was supposed to do! It was supposed to be a minimal fees. Nope, instead we have abnormally high fees compared to using fiat! It was also supposed to get rid of the middlemen that charge fees. But the miners have become that! It really has not performed as it should have. I’m expecting a bump in alts and especially BCC after this. Verge is great, but I’m waiting for a dip to get into it. I’m disappointed with what BTC could’ve been and what is turning into
Yeah I think there are interest that changed Bitcoin from its original purpose. Money probably caused people to steer Bitcoin in alternative directions and I think this is why necessary upgrades have failed to be implemented. Bitcoin can change but the various stakeholders would have to come together and support necessary improvements and this would likely prove difficult because the various parties have interests other than the primary goals of what Bitcoin originally was meant to be.
Yes sir! I feel that way as well
I might be of the subject. I think some might have to know this before the end of the year. Please help to spread awareness. Starting 2018 all crypto transactions are taxable events
Source
I think it will have an affect on the crypto markets because at the moment I bet very few crypto investors pay taxes on their capital gains earned on crypto investments. I have been told that very few stock investors pay capital gains on their stock investments. If the exchanges become required to get account holder information and to submit trading activity to tax authorities then this will make crypto investing less popular. The gains from investing in crypto markets have been so great that they are now gaining the attention of tax authorities who want a share of the proceeds from these trades.