Verge Coin Asks For More Money – Shady Things Coins Do
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.