What Happened with XVG/Verge and Wraith Protocol Yesterday

I wanted to quickly cover what happened yesterday as impartially as possible. For that reason I am including as many screen shots as possible, with as little commentary as possible.

As many people were aware November 6th was supposed to be a significant day for #XVG. That anticipation stemmed in large part from the countdown below.

Additional details regarding new anticipated features.

The closer Wraith got the higher XVG climbed, reaching a new ATH.

The anticipation, and new ATH quickly declined as there appeared to be no code "movement" as the countdown reached zero. Many people, including myself, were online at that time hoping for some communication from the dev team.

One of the first responses on twitter was from XVG founder @justinvendetta who tweeted the following regarding a time zone issue.

While some people felt this issue was no big deal, others were far more concerned. I think the following comment is a fair response to the dev team calling the whole rollout a small hiccup.

As the day continued verge pivoted from the complete Wraith Protocol rollout that most people anticipated to a beta linux release.

Even the beta release has caused concern as there appears to be little more than a cosmetic update.

Another twist occurred yesterday when @vergecurrency confirmed that someone from their team had been participating in a pump and dump scheme.

This situation is still somewhat ambiguous as it appears that the Verg dev team may have been refering to the CryptoSyndicate....which is not a pump and dump group.

At the end of the day I think everyone invested in XVG was disappointed by the lack of communication, and the less than overwhelming rollout.

Pretty disappointing.

Hopefully some of this will help you if you are considering an XVG investment. At this point they are dealing with a history of not meeting deadlines that they themselves set. They have also failed to communicate in a meaningful and professional way with people who are supporting their product with hard earned money. Everything associated with the Wraith Protocol and Core Wallet 3.0 sounds pretty darn awesome to me, but execution is a whole lot better than hype.