Verge XVG Mining Contract Review

Verge (XVG) (formerly DogecoinDark (DOGED)) is a decentralised, open-source cryptocurrency forked from Dogecoin in October 2014 and re-branded as VERGE in February 2016. The project exploited the growing popularity of the 'fun' Dogecoin cryptocurrency while adding code to increase the coin's anonymity and privacy features, notably the network's ability to run on dedicated Tor nodes. Verge is a pure proof-of-work cryptocurrency that uses multiple hashing algorithms to mine new coins. The number of coins issued has been set to 9 billion during the first year and one billion per year thereafter.

Verge (XVG) is a secure and anonymous cryptocurrency, built with a focus on privacy. It is a decentralized currency designed for users who value privacy.

It improves upon the original Bitcoin blockchain by using multiple anonymity-centric networks such as Tor and i2p. It utilizes multi-algorithm mining support to improve security and provide equal distribution of coins to miners. Current Price: 0.00000115 BTC ($0.002774) Current Market Cap: 15,422 BTC ($37,196,669) Current Circulation: 13,409,472,280 XVG Current Rank basis of Market Cap: 67 Fundamental Analysis Competition Analysis Main Competitors (Anonimity Based Cryptos): • Dash - Rank: 7, MC: 518,398 BTC • Monero - Rank: 9, MC: 247,738 BTC • ZCash - Rank: 12, MC: 177,694 BTC • PIVX - Rank: 29, MC: 48,804 BTC XVG is expected to enter the top 10 cryptocurrencies by end of 2017. The 9th ranked crypto as of July 2nd, 2017 is Monero (also a like for like competitor) which has an MC of $598 million. Assuming the crypto market space doubles in the next six months, which in all conservative likeliness it should, XVG could be said to have an MC of about $12 billion (520,000 BTC approx.) which would render its price at 520,000/13,409,472,280 = 0.00003878 BTC or 3878 satoshis. This translates to about 32.43 times or 3243% of the current price. The breakup of the increase is detailed below.

Verge v/s Competitors - The Technology Verge wallet that does no mixing, no ringsigs and no form of transaction obfuscation, but connects to I2P from 4 nodes that are all hosted from the developer and they hide your IP. They call it the 'Blackhole' tech.

This is in contrast to its competitors which do not perfectly hide user IP. Company Analysis - Roadmap Verge has the following roadmap for the near future (July): 1. I2P/TOR Android Wallets Android Wallet for Anon transactions ONLY! (near completion) 2.

Sep 12, 2017 - That's is why today I want you to introduce Verge, the cryptocurrency that main focus is on privacy and anonymity in financial transaction. They might be opening Merchandise store soon and Multi-Algorithm Pool Mining for boost the money flowing. Verge coin — XVG mining and supply.

New Core Wallet Release Add new features including coin control, RingCT, update libraries (openssl, boost, etc) 3. RSK smart contracts They are in testnet for bitcoin now. Date revolves around this timeline.

Wallet UI overhaul 5. Merchandise Online Store Verge Merchandise shop will have tshirts/apparel that can be purchased with XVG and BTC. As one can see, that is a lot of development lined up for one month. The RSK token part is interesting, if implemented, Verge will be the first crypto to offer anonymous smart contracts. Bitcoin Cash BCH Terminology there. For those who are new to crypto, smart contracts is one of Ethereum's USPs and we all know how much the crypto has grown over the last three months. To further substantiate the technological development, one could analyse the relative github activities. Github Activities • Verge - Github Commits: 529, Collaborators: 12 • Dash - Github Commits: 13,337, Collaborators: 370 • Monero - Github Commits: 4,111, Collaborators: 104 • ZCash - Github Commits: 10,640, Collaborators: 356 For a new project, 529 commits is a very healthy number backed by 12 developers.

This number is expected to grow and catch up with those of its competitors. Activities in the last 3 months have been greater for Verge vis-a-vis its competitors. With such monthly developments, one would not be wrong to assume an average of 50% rise in price per month leading up to December.

So, for six months, expected rise powered by development = 1.5^6 = 11.39, i.e., 1139%. Collaborators Exchanges Verge is currently listed on 8 exchanges. It is yet to be listed on Poloniex, Kracken, Bitfinex - some major US exchanges. Also, there is no CHinese presence yet. The rate at which alt coins are being adopted by the far east (for instance, btc38 adding Ardor and Syscoin last month), I see it being listed on some major regional exchanges in Q3 and Q4 of 2017.

Addittion to each exchange on an average adds 20% to the existing price of a coin (Ardor rose from 85k satoshis to 110k satoshis during the btc38 addition). So if Verge is added to at least 3 exchanges, I see a 1.2^3 = 1.73 = 173% increase in price contributed by exchanges. Famous Institutions Last month JP Morgan announced a collaboration with ZCash. The price of ZCash shot up by 100% in 15 minutes before stabilizing at about 50% higher than the pre-news levels. The buildup to the Antshares-Microsoft conference pushed the former's price up by almost 5x. Given the comparison with its competitors above, I see at least one large corporate use Verge technology in the next six months. Safe to say, about 60%-70% increase in price is expected from such news.

So, price increase due to fundamentals ~ 11.39 (Development) * 1.73 (Exchanges) * 1.65 (Institutional Collaboration) ~ 32.51 or 3251% Technical Analysis Verge was priced at 5 satoshis till May 8th, 2017. It exploded to 224 satoshis on June 5th, 2017 before retracing to the current value of 118 satoshis. It remains relatively stable against the BTC, when most other alts are losing value and the BTC dominance rising during the crypto meltdown. The weekly chart shows the formation of a potential cup and handle (C&H). The cup seems to be bottoming out and the handle expected to complete around September 6th to 15th. Breakout from this stage would resemle Wave 3 of the Elliott Wave, which is the strongest of the 5 waves. The breakout from the previous C&H happened from 45 satoshis to 203 satoshis (4.73 times).

Applying Elliott Wave Theory, Wave 3 should be 2.618 times (Extended Fibonacci Golden Ratio) that of Wave 1, which is 11.82 times the breakout base of 203 satoshis, i.e., 2399 satoshis. Considering the duration of the present C&H of 12 weeks (June 1st Week to September 1st Week), the next C&H would complete during mid December. The breakout from there would correspond to Wave 5 of Elliott, which would be 1.618 times (Fibonacci Golden Ratio) of the breakout base of 2197 satoshis, i.e. 3886 satoshis.

Details on Elliott Wave Theory could be read at: To support the analysis, both MACD (12,26,9) and RSI (14) = 64 show bullish trends on the long term. The momentum indicator also seems to mimic the RSI, lending further confirmation about the trends. Recommendation: Verge Currency (XVG) is a long term buy/hold for those willing to become rich. I used to be a scalper myself. However, it requires more effort and is prone to higher risk. I'm now identifying a few coins which have the potential of x10+ returns in the next six months.

XVG is one such coin. Also, through scalping you do not make the most of the rallies, when they happen. I knew Ethereum would be big, back in March this year, when it was priced at sub $20. I held it till it stagnated between $40-$50. If I hadn't sold it then, I'd have made x10 more from it by now. Of course, I have enjoyed small rides on ETH intermittently, and also on other coins, but feel that I could have made much more if I just held for long.