Verge Currency has created a historic moment by becoming the first virtual currency to be adopted into a large-scale organization as a mode of payment for services. This has planted roots in the industry, with a goal to reach millions of people all around the globe.
This is a giant leap towards mass adoption. Other large corporations in various sectors can closely watch what a cryptocurrency can do in terms of generating revenues and giving people the option of privacy.
This mammoth partnership skyrocketed Verge to the top position in the crypto-sphere. A large segment of non-believers in crypto have gained the confidence of using it like any other fiat currency. Well, we know that none of this is true and the reality is far from it.
Everyone understands the magnitude of the partnership with Mindgeek. Having 115 million people visiting their sites exposes Verge Currency to a lot of people. But the response to this is nowhere close to what we expected. Verge is still struggling to move up the ladder to become one of the top cryptocurrency in the world.
It’s a sad sight looking at people talking about Verge as a pump and dump coin. It has great tech, phenomenal team, and a very strong community. Verge Currency has world-class partners and an ever-growing list of vendors from all walks of life. It’s a perfect recipe for a successful coin yet we are seeing that the climb to the top is not happening. It’s NOT a p&d coin, yet it’s behavior tends to that quite often, why???
The answer to that is something that isn’t in front of us. It’s lurking in the dark manipulating people into falling into patterns over and over again. These lurkers are quite successful at it. It has the strength to manipulate the market price and keep it exactly where it wants it to be.
This is the sad state of whale control. Whales have an enormous treasury of Verge coins at their disposal. This allows them to use a significant amount of it to take the price of Verge to where they want to. This leads to price variation and volatility that doesn’t represent what the market, in general, want it to be.
They rely on spreading rumors, FUD, targeting weak hands and tapping on emotional decision makers. People who take as a response to fake news and high volatility are targeted as well to fuel the whales’ motives. They feed on this chaotic nature and manipulate an entire market to what suits them the best. Yes, that indeed is a lot of power and most definitely is hindering the growth of Verge Currency as of now.
We won’t know who the whales are. They can be banks or rival coins, or a bunch of people who hate Verge. But this does not matter. The real question that we need to deal with is “Despite such power of whales, can Verge succeed?”.
The answer is YES. Verge can succeed to fulfill its vision of being a currency for the people. Bringing in the stability that’s necessary and most importantly, providing privacy that the people deserve. But for this to happen in this chaotic environment, we have to get to work.
Whale control works by pumping in coins into the market to get it to the price they want. They then wait for people to respond to the situation and profit from it. This cycle repeats. They not only recover the coins that have been disposed to carry this out, they make a lot of profit from it. This can be broken.
We as supporters of Verge Currency, who realize its potential can help break the whale cycle and it won’t take much. Here are a few things that we can do to break these cycles and facilitate the growth of Verge.
1. Patience – The most important thing we need is patience. Once we have Verge coins, we must make it a point not to fall prey to the price rollercoaster the whales try to create. If the coins that they put on to the market, do not go back to them, they get weaker. With a large group of people doing this, they can be taken down quickly. so, basically, HODL!
2. Spreading the word – The core team of Verge is working hard to make sure more and more people get to know about Verge and learn what we are trying to solve and how they can benefit from it. But we cannot reach everyone. It is up to community members like you and me to spread the word. Maybe just your family members or friends, to begin with. As more people join this revolution, stability is bound to happen.
3. Using Verge as a currency – This is the most important ingredient for the success of Verge. Using it to buy goods and services. You can use Verge Currency to buy many things online and this will increase with time. As owners of these coins, we need to try and use it as a currency. This way many other retailers and service providers gain the confidence to accept Verge as a mode of payment. Its a chain reaction and we need to be the catalysts.
To me, these aren’t great sacrifices but small tweaks to the way we think and act. They have the power to make a significant change when acted upon. We are the ones who need to take action and make sure that Verge continues down the path of success.
We must take control and be persistent in pushing it. It will surely take a lot of us from the community and will probably take a while but the time will come where people will say,
“Then there was One”
And that will be us.
If you are new to cryptocurrencies, you can learn more about how to invest and get started by experts
You can contribute to the maintenance of SourceDexter by donating Verge: DDndhaMRyMVhtx7ZvMaL1k6LHxUKdku1KF