Verge (XVG) is a cool coin that has tones of privacy options for a trader and a user who needs his anonymity in a transaction protected. This is good news. This type of technology threatens the big dog known as Bitcoin (BTC) that was once hailed as the coin of choice for privacy. Actually, Bitcoin was once used for drug transactions in the dark web. That is how the coin become famous.
The online black market where Bitcoin was used was known as The Silk Road and operated on Tor. Online users could browse for items anonymously and securely without fear of their I.P addresses being traced back to the user.
Before the website was shut down, Bitcoin was the preferred form of currency for any transaction that needed anonymity. With the FBI, IRS and DEA prowling on the Bitcoin ledger, privacy could no longer be guaranteed. I tend to believe that is how they caught the founder of the site and service called the Silk Road: Ross Ulbricht. The taskforce that helped get him also initially confiscated around 26,000 BTC only to come out and say the amount was 144,000 BTC.
You can now see where I am going with this argument. When a privacy coin such as Verge (XVG) shows up in the cryptocurrency scene, it is bound to get lots of opposition from these big organizations that are against private transactions. I am not claiming conspiracy, but could it be that there is a campaign to muddy the reputation of Verge by large governments?
FUD is an acronym for Fear, Uncertainty and Doubt. It is usually used in marketing by large companies and organizations who have influence and market share, to run down the competition through smear campaigns and fear tactics. The more the FUD, the more likely the product or service being targeted, is of superior technology and threatens the status quo.
Think of it this way. You like a girl and want to talk to her but you see some guy as competition. So you create a silly rumor to taint his image with the hopes of winning the girl.
The FUD around Verge is that it is the coin of choice for online drug dealers. But what if it is? Is this a bad thing?
I beg to differ! This is proof of concept. If these bad guys do not want to be detected by using the Wraith protocol, it means the protocol works. What now we are left with is a morality question. Should XVG not have the privacy option due to the bad guys out there?
The answer to that is a plain NO! Law enforcement and ethics is not a function of cryptocurrency developers. This is a function and duty of law enforcement. The war on drugs, illegal firearms and other illegal activities is better left to those with the jurisdiction and power to do so.
The war on drugs can be won the same way Portugal and Netherlands did, by decriminalizing drugs and educating the masses. This means that prosecution for possession of small amounts of drugs is not penalized. As a result, abuse has reduced in those two countries.
In summary, and what I am trying to say in a nutshell is that the FUD surrounding Verge is actually a good thing. It means the privacy protocol works. One is tempted to compare the coin to Jesus and how he was criticized by many only to be the Messiah. Could Verge (XVG) be such a messiah? Will XVG take us to the promised land of globally accepted stealth transactions?
Yes it will!
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