Verge: Massive potential partnership conditional on reaching donation goal
It feels like New Year's Eve all over again...
The team at Verge has been campaigning over the last number of days to its fanbase - appealing to the community to donate 75 million XVG in order to secure a secret partnership - veiled under the conditions of an apparent NDA. Thus far, they have reached a quantity of around 17 million XVG in donations. The deadline for raising the funds? March 26. That's pretty soon.
Rumours abound regarding the nature of the partnership, but it's all pure speculation - the team at Verge suggests it could be the biggest partnership in crypto ever. This is a team that has been known to use hyperbole and deadlines to create massive FOMO in the past. In December, riding a wave of excitement as the currency had increased in value by many thousands of percentage points over the year 2017, the Wraith protocol was to be launched on New Year's Eve, enabling greater privacy for transactions with the coin. The launch did not happen on time, and the price of the currency plummeted as reality set in. Weeks later, when the Wraith protocol finally did launch, excitement was considerably more subdued in the depressed crypto market.
As a day-trader, this is a tricky one to play correctly. My thought, as I hold a little bit of Verge, is to sell about half of it before March 26, as it reaches a crescendo in excitement, and hold about half for after the announcement - good or bad. If it turns out that the partnership is axed, at least I would be able to cut my losses. There is no doubt, if this partnership fails, the value of XVG will fall severely, at least in the short term. The Verge team is assuring donors that the funds would be used for further development anyway, so the money would not go to waste, technically. On the other hand, if the partnership succeeds, then I can still make some decent gains.
The problem with this, is its likely what pretty much any other day-trader holding Verge is thinking. So I could instead take the contrarian approach, hold or sell off all my Verge before Monday, and buy up more if it crashes following a failed partnership (which seems quite likely to me, the more I think about it). This assumes the hope that Verge will indeed recover at some point in the future again, of course, but I'm not so sure Verge has a lot of tries left at this whole deadline - FOMO - announcement formula. Let's hope March 26 isn't another "Not-So-Happy New Year" fiasco.
*This is not professional trading advice - it's just my opinion!
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Verge already is a great coin that has been steadily going down in value since the last alcoin season. Even in the last couple weeks it has been decreasing. Ultimately it is a great privacy coin with a fantastic community. Right now it is already a great price to buy. I highly doubt you are going to see any crash and barely noticeable price movement before Monday.
We will have to wait and see - I do find the currency very interesting and appealing due to its privacy features - hence the reason I hold some. I suspect prices will climb Sunday evening in North America, particularly as eastern nations such as Korea and Japan might begin buying more when it is still Sunday night in New York, where Verge is based. I hope it doesn't dump on Monday - but it wouldn't surprise me, at all, if it did.
I wouldn't call verge a "great" coin. It has a massive following and marketing for days, but on the basis of being a privacy coin it's not even close.
Although I had concerns I always supported verge and probably own more verge than most people but this crowdfunding news has made me lose hope. Why make an announcement about making an announcement. I am thinking of selling some of my verge because, if they don't deliver the price may not be this high ever again, but something tell me to trust XVG once more!
I am not just trolling I have made a post about it with my thoughts on it on my steemit. NGL I am very disappointed!
My thinking is to sell about half of it before any announcement to hedge my bets. What do you think?
Resteemed your article. This article was resteemed because you are part of the New Steemians project. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch
Verge protocols are going to change the game. Im holding long. This is super exciting though. This team sure knows how to stir a crowd
Hola, resteemed tu artículo, excelente publicación, saludos.
Si puedes apoyarme lo agradecere mucho.
Estas son algunas de mis publicaciones, .
https://steemit.com/spanish/@celinavisaez/que-es-petro-wallet
https://steemit.com/spanish/@celinavisaez/poleo-remedio-poderoso-o-ingrediente-toxico