Current Event

Success at Any Cost? A Lesson Learned from Verge, the New Porn Coin

Yesterday, after weeks of hype, veiled hints, announcements, and conjecture, Verge (XVG) did in fact come forth with an announcement that impacted the crypto world: At the cost of raising 75,000,000 XVG, or 5.2 million dollars, to do it, it will partner with Porn Hub which announced it will take XVG in exchange for its services so that people who access their pornographic entertainment can hide it from whoever might want to know why they are on their computers so much.

Volatility

It was a classic example of traders buying the rumor and selling the news as, just before the announcement made at 10 am EST (though apparently leaked an hour before that), XVG reached a high of .00001420 Satoshis only to fall to .00000901 at the 10 am announcement. It fell as low as .00000812. Almost thirty-six hours later it is trading for .00000809. Don’t worry—it will make it back to its highs. There are plenty of people willing to compromise their moral values for money.

The Thin Line

Anyone can use whatever currency for whatever they want to use it for. Christians can’t go around boycotting every business that in some way includes people or products that are unacceptable to their faith. If we did we would eventually not be able to buy milk, gas, medicine, etc. However, if the place where I buy gas decides to become a partner with the porn industry I will find another place to buy gas. It’s a thin line, I know, but a very important one.

Any evil gangster, pimp or prostitute, wife beater or child abuser, drug dealer or black market smuggler can use any crypto currency they want for whatever they want. The same is true for the dollar, yen, or ruble. But if those in charge of those currencies—in this case XVG and the leadership at Verge—decides, in effect, to promote vice and immorality, that’s another story. That tells me something about the value system at Verge. It tells me that literally nothing will be more important to them than success. That’s a shame!

The Verge “Family”

As you might guess, Twitter—the cesspool of the internet—is all a flutter with people who, just like the leadership at Verge, only care about financial success. Their Lambos and their trips to the moon are all they care about. Try to take a moral stand and the responses are mostly from people whose growth must have been arrested in eighth grade because they can do no better than name call.

At any rate, there will be more of this to come. Verge isn’t the only crypto that lists for riches enough to compromise their values. But that doesn’t make it right.

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