Of all of the ideals set forth in the Bitcoin Whitepaper that we here at CryptoDetail embrace most, it is the idea that privacy is paramount. For thousands of years, governments and traditional banking institutions have been demanding that every person report every penny so that those entities could steal even more of our funds. The idea is not one of lawlessness, it is equality. Yes, it is our duty as citizens of our respective countries to report our income and gains to our governments (actually, that is clearly disputed by many; but, we are going to take the governments' position here and pretend it is true). It is NOT our duty to report where every penny is spent, nor where it is kept. And we have absolutely no duty to the robber barons who have controlled the fiat world since the first money lender began playing his fraudulent trade.
Big Brother knows
Thankfully the ways of the past ended with the birth of Bitcoin. We as a planet of 7+ billion inhabitants now control our own financial destinies. We have complete control over our own money. But, we are still being watched.
While Bitcoin is designed as an anonymous currency, just like the fiat currency in your pocket right now; there is a flaw. This flaw is not built into the Bitcoin code itself. It is one that we in the cryptosphere have allowed to form. If you download a third party wallet app to your phone, one that is registered in your own name; you have given away your privacy. If you sign up on one of the large exchanges, submitting to the KYC/AML regulations that nearly every government has enacted; you have given up your privacy. And if you make a transaction for a physical good to be shipped to your home and paid for it with Bitcoin; you have given up your privacy.
Once you do any of those things Orwell's "Big Brother" knows where your money is kept. How Do We Keep Our Privacy?
DogeCoinDark and rebranding
There are not much we can do to prevent those breaches with Bitcoin. The blockchain is out there, recording every step made by every BTC wallet on the planet. However, there are those of us in the cryptosphere who care so much about the issue of privacy that we have created coins to fit this need.
The most famous of those anonymous coins is Monero. Dash is right up there too. But those are not the only ones. There are others. And, if you care about your own privacy, protection, and anonymity you will check out, and use, this one too.
In 2014 a Bitcoin fork was revised into one of these anonymous coins. It was called DogeCoinDark. This anonymous coin was developed by a single coder known only as Sunerok. In 2016 DogeCoinDark was rebranded as Verge. This change was made mostly to improve its public image, separating it from the lawlessness believed to inhabit the "dark web".
(*Those allegations of lawlessness have nothing to do with the "dark web", why it exists or what goes on there in real life. The free exchange of information is the purpose of the "dark web", not criminal activity. But, that is a story for another platform.)
As we have said many times before, branding is second only to performance from an importance standpoint. So, the "dark" was taken out of DogeCoinDark. To further strengthen its position in the cryptosphere this name change removed any reference to (one of our favorite cryptos) Doge. Although Doge is a strong, reliable coin, it is still seen by many as the joke it was meant to be when it was first created. So, again, separation through rebranding.
But What Is Verge?
Verge is a Proof of Work (if you do not understand what Proof of Work means; keep an eye on our articles where we will explore that, and Proof of Stake extensively) algorithm based cryptocurrency built on top of some of the most powerful encryption in the cryptosphere. Without a doubt, the encryption here is a work of art. But, not only is this coin completely secure and anonymous, it is as all-inclusive as any currency we know of in the cryptosphere.
How is it all inclusive?
Not only does the 16.5 Billion Verge in circulation keep the price down (currently it's $ 0.013 USD each) Verge has a secret that every miner (and wannabe miner) will love. Whereas most crypto coins are built to run a single mining algorithm, Verge allows five different algorithms; which are Scrypt, X17, Lyra2rev2, myr-groestl, and blake2s.
With all of these choices literally anyone with even a basic CPU or GPU mining setup can mine Verge coins. This ability also allows everyone to be able to collect their money into this vault of a cryptocurrency and protect their own privacy to the fullest extent known to the modern world.
And that is why we here at CryptoDetail love Verge. We would tell you that we use it and you should too. But that would just defeat the whole purpose of it. Whether you use verge is completely up to you. But, you should most definitely check it out.
Unlike our normal closing, if you do check out Verge, and especially if you use it, we do not want to know about it. Your business is your business. That is after all the purpose of anonymity and privacy.
Nothing in the above article is intended or presented as "financial advice". We here at CryptoDetail are not CPAs. Before buying any coin or token, or before making any financial decisions it is up to you to do your own due diligence. Then, once you are well informed, it is up to you to discuss your situation and strategy with a reputable, local, crypto friendly CPA in order to protect yourself and your money to the fullest extent possible in such ventures. Anything you have read here is merely our assessment and opinion from the facts we have uncovered through our own research.
Thanks for joining us for this exploration! Good luck on your own crypto journey!! Happy HODLing!!!
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