Verge Coin has faced a lot of issues lately such as a hack of their blockchain via an exploit in how it is mined. Then, recently they announced a big mystery partner but they wouldn’t release who it is without people buying about $3M USD of XVG coins.
This upsets me, it reminds me of the Finom ICO scam (tokens I paid for but never received) and how instead of delivering the tokens they instead did another ICO asking for more money.
Because of how Verge did it, people accused them of trying to do a pump and dump as an exit scam. In all fairness they did come through with a fairly big announcement, partnering with Pornhub which could increase the coin’s popularity and usage. From an investment standpoint I don’t think it is the silver bullet people are looking for. We want to see a coin that is actively used in everyday transactions and that actually replaces fiat.
But the bigger question to me is concern about the Verge team, tactics like this get you labeled as a scam fairly quickly. It really seems a lot of teams are just that, scammers or they are completely out of teach with reality and basic practices of business, communication and how to treat your investors.
As some people are just learning, Facebook has been tracking both users and even non-users in a violation of their privacy that most never opted into. Anytime you visit a Facebook related or enabled site, they are tracking you. Conversely as a Facebook user, they track and relate all of your off-Facebook activity on any site that uses Facebook plugins or functionality (which are a lot of sites). This is horrible and should be stopped but in all fairness “they all do it” and if anything Google is probably worse.
If the above is not bad enough, the PRISM network has backdoors to all of these services so you are being violated directly by corporations and multiple governments who index all of your activity. Privacy is a thing of the past unfortunately.
However there are ways to fight back such as disabling cookies and deleting all cookies regularly and especially to use a random VPN to make tracking harder.
It’s not so much that the majority of people have anything to hide, but privacy is a right everyone has. Most people would object to having cameras in the washroom, not because they are doing something wrong but because you have the right to dignity and privacy.
Hopefully the longstanding issue with most giant online sites from Facebook, Google etc.. will drive demands from people around the world to restore privacy and digital rights in an era where infringement is common.
Mark Zuckerberg has been noticeably absent since the scandal broke. It personally doesn’t surprise me because Facebook has never been safe, secure or private regardless of your privacy settings. Your data is legally there to be traversed by third parties for marketing purposes and for governmental agencies to surveil and analyze you. This is essentially all in the TOS and for a company based in the US they are legally obligated to co-operate with entities such as the NSA, FBI, CIA for whatever they need, even if it would normally be a violation of the law.
To add insult to injury, Mark Zuckerberg actually didn’t apologize in his initial response to the privacy issues.
Deeper issues have recently revealed right to the top of the British Government and the Royal Family, including MoD ties to SCL (the company which is regarded as one and the same as CA). They had contracts with NATO, UK Tory Party, and even the US State Department. There is a General Tolhurst who is an aide to the Queen who is also on the board of SCL. Even closer is a third cousin of Queen Elizabeth the II, Ivar Mountbatten.
The reason I mention all of this is because it sounds more like a co-operation between elite business and government than an accidental data breach or hacking done on behalf of a private company.
This could be why Mark Zuckerberg has been so quiet about it, after all those who are familiar with IT security and espionage cannot believe this is just a group of hackers. With the breach being so significant and wide scale, why didn’t Facebook notice this sooner? It seems like they either noticed it or were fully aware, but only took action after someone revealed it to the public.
I am certain more revelations will come out and they will probably be no less shocking than what we know.