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If you feel misled or misunderstood this product, email us and we will gladly refund your purchase price upon the return of your product - no questions asked!
Bravo! Yes those who bought this software and can't or don't understand it should get a refund. Veritaseum is blazing a new trail, we can't drag along those who aren't ready for this journey! |
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Etherdelta won't load, something is going on. Overheated demand for VERI?  Yeah. seems like it. https://coinmarketcap.com/exchanges/etherdelta/ shows data as of an hour ago... Make sure your browser is up to date. I like Brave though Chrome or Firefox should be fine. I notice if I leave Etherdelta open overnight the javascript process in the tab appears to lock up. Try a new tab. As of now, I see no Etherdelta market data. Update: this appears to be a certificate issue with the CDN that etherdelta uses: https://gitter.im/etherdelta/etherdelta.github.ioI would monitor and not panic, the funds in your wallet should be accessible when the contract is reachable. I'm not at my trading computer or I would confirm. Update2: as of 430PM EST time Etherdelta is showing orders and trades. |
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My translation: This is token with a market cap of currently nearly 6 billion USD, and the developers are holding 98%.
All big purchases in the future will be done from the developers directly thus will not hit the market and influence the market price positively.
I disagree Token valuation CANNOT be compared to traditional asset valuation. For instance, Apple can always issue new shares, thus they effectively have an UNLIMITED potential market capitalization. Veritaseum has clearly and upfront told us that there will ever exist 100 Million tokens. Secondly, the token distribution is instantly transparent on the Blockchain, unlike a stock where Apple can issue shares or warrants / options and it may not be apparent to the market that there are new shares going to hit the market. So if a company like Apple can issue new shares, their market capitalization is theoretically UNLIMITED. Thirdly, Reggie was clear that this token is for purchasing services. Large blocks will be sold from the reserve to high net worth entities. It is understood from the presentation that Reggie and team are working to build a platform where spending those tokens is useful and needed. That will create a demand and drive long term price growth of the token. It may be fun to think that market cap of a token is total tokens times the spot price. This is inaccurate as it is not possible to liquidate a large position without materially affecting the market, so the spot price is movable. I'm here for serious valuation and the long term. I consider that the total float of shares issued for converting to veritaseum services is the true representation of the value of this token. Reserve is NOT a factor until they are transfered on the blockchain and that this is fully transparent for all to see. Since this would most likely be something that would be announced on the website as news, I believe that it will add to the importance and necessity of holding these tokens, and using them personally as well. If someone bought 1 million from the reserve, that would be public, liquidating those would consume all the buy orders in the narrow band of accepted price, and rapidly move the price down. It wouldn't really make sense at this valuation level to do that. So we remain with why someone would buy VERI, and I assert that this is for the value they represent in trading them for services. We already know the valuation model for GNO tokens based on Reggie's work. This demonstrates perfectly that cogent analysis is needed and there is a huge opportunity to move in these new platforms to collect value. That is what you are buying with your token, and that is what it represents. I foresee a ICO Token shakeup in the next 12 months. It's going to move from the wild wild west, to a much more deliberate and fundamentals based process. Reggie and Veritaseum are perfectly situated to provide the expertise to participate in this movement! |
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There were actually 100 million coins issued, however, only a fraction was sold at the ICO.
Reggie will tell you that the value is not amount of coins times price per coin.
Decide for yourself ;p
1,926,109.81 VERI were issued since the Crowdsale. 100,000,000 Tokens were created. The remaining 98,073,890.19 VERI were clearly stated to be for reserve to sell to large entities. Since those have not been distributed, they are not yet part of the float. The terms of the crowdsale were explicit that 51 Million tokens were available for purchase (out of 100 million). I believe that the only number that matters here is the float of tokens. The reserve are something to watch and this will indicate larger institutional support. In general, large buys such as they would be interested in would be in blocks for either buy and hold, or to use for services; probably over a longer time frame with a locked in eth/VERI rate. Veritaseum will fly or fold based on the services offered. When Veritaseum is flying high, you'll need VERI to buy services. The crowdsale participants are sitting on a wonderfully and unique opportunity. Market participants help us discover price; Reggie and team will demonstrate the value we all desire! |
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I thought you need 1 token to enter the analysis engine and invest eth after. I think I got it now... so you wanna invest 2.000.000 $ into a trade-bot you have to buy ETH worth 2.000.000$ and then change these xxx ETH into yyy VER. These yyy VER u place with a contract on veritaseum network.[...]
Or am I completely wrong??
I don't think the specifics of how the Veritaseum contracts will work have been announced (the Autonomous DAO). My comments were explaining that the VERI are not destroyed when spent, you just exchange them for services. Destroying VERI would reduce the market float of shares in circulation, and would materially benefit market holders by increasing scarcity of the token. There is no reason or indication that this would occur. |
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With destroyed I meant that this veri token is out of the system and can not be used anymore.[...] or is it gone from the veri-network?
I am unaware of any scenario where Veri are destroyed. This is not common for tokens. It is sometimes done in other crowdsales. Though this is as an incentive to early adopters and usually announced before the sale begins. Reggie has been quite clear that the reserve tokens are intended for banks and other high network corporations. I'm pasting my analysis of the last 7 days trading on Etherdelta: 3 Variables 1823 Observations
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VERI Price
n missing distinct Info Mean Gmd .05 .10 .25 .50 .75 .90 .95
1823 0 292 0.999 0.3214 0.2999 0.09091 0.10000 0.17544 0.22222 0.25000 0.30242 0.33333
Value 0 1 2 3 5 10 100
Frequency 1777 28 6 1 5 5 1
Proportion 0.975 0.015 0.003 0.001 0.003 0.003 0.001
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Amount
n missing distinct Info Mean Gmd .05 .10 .25 .50 .75 .90 .95
1823 0 1114 1 12.1 19 0.0000 0.0202 0.4000 2.2950 9.9525 31.0174 57.0783
lowest : 0.000 0.001 0.002 0.003 0.004, highest: 233.083 265.251 265.545 279.324 409.980
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Total Price
n missing distinct Info Mean Gmd .05 .10 .25 .50 .75 .90 .95
1823 0 754 0.999 2.107 3.256 0.000 0.006 0.098 0.500 1.667 5.000 9.897
lowest : 0.000 0.001 0.002 0.003 0.004, highest: 49.850 49.927 54.064 88.417 88.515
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As you can see, there is merit to driving more volume and traffic to the decentralized Etherdelta. I first petitioned Poloniex at the close of the ICO and again just recently.
Volume on Etherdelta is about 3 to 4 thousand ETH daily, $750k to $1M in VERI
Agreed. The Etherdelta platform is solid. There are other distributed exchanges pending including 0x, and NVO - the ERC20 tokens are built for distributed exchanges! Thank you for the update, in my experience Poloniex is slow to add tokens. [1] https://0xproject.com/[2] https://nvo.io/ |
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Has the Veritaseum ICO ended, or is it still open to investors?
The Crowdsale is OVER. I see that people are still sending ether to the contract. Stop you are wasting gas. Do your own due diligence and come up with your valuation of VERI, then buy them where you can. Etherdelta has a low volume market currently. When listed on larger exchanges we will see MUCH higher volume. This could drive the price back to 0.033 ether per VERI or it could go higher... The market will decide. Based on past tokens, I would say we are more likely going higher than 0.033. The time for cheap VERI is over, you will now have to pay the market price. |
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What I undertsood in these veri tokens is that they are getting used like a ticket and not traded like a currency... once a token is used it disappears 4 ever from the market... u canīt use it again. Correct me if iīm wrong
VERI are tradable for goods or services. If you give me a VERI I now have it. If you give Reggie a VERI for a service, he will probably record it on his books. There is no reason to destroy them. What is unclear is how the Autonomous contracts will function, and again, it should be expected that you are trading a token for a good or service, and the commiserate value returned. Think of it like buying a pack of Giftcards at CostCo. they may have been discounted, and you are trading them for Goods, or services. You now longer control the card/token, it has not been destroyed. Also my calculation on current valuation of Veritaseum as a entity is $16,436,137, this is based on the real cash FLOAT of Veritaseum, and not the unissued reserve. |
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It may be the next ETH when ETH was under $10... or even under $5. This thing will take time but acceptance from the right institutions could open unbelievably big doors for Veritaseum.
Etherdelta Market Analysis: Out of 284 of the trades that were non-zero. Median Order size for VERI was 18.227 tokens, 1 ether is the Median rate and this works out to a Market price of 0.089087302 Ether per Veri token. Significantly higher than the crowdsale... I like Median because it really takes out the outliers. I think we can expect strong support around 0.066 when this hits the large exchanges. |
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Does anyone have a need to extract their bitcoin private key from a mobile wallet? Asking for a friend. PM me if you have this need and which mobile wallet you are using.
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Post #407, Reggie says this was setup as an experiment.
I believe that etherdelta allows any arbitrary market to be established if it is an ERC20 token. Since it is not part of the drop down menu selection only followers of this thread know that this market exists. It is also possible to trade on etherdelta ANY ERC20 token for another. Fancy swapping some GNO for VERI? It's possible: https://etherdelta.github.io/#0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374-GNO the market has no bids or offers but this illustrates that it is possible. I believe that the volume is too low to have real price discovery at this point. Being listed on the main interface and on several of the larger exchanges will do a much better job of establishing the market for this token. |
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Is there anyway we can see a previous beta version. Links to people using the beta when it was out. Also when was the beta for the bitcoin platform released and how soon after its release was it taken down? I dont see how they kept working on it and not have anything to show for it a couple years later.
This is a video of Reggie presenting the platform. The peer to peer exchange was functional, and the most remarkable feature was being able to arbitrarily make long and short trades vs other assets as opposed to short the equity vs the US dollar. So for instance you could enter a trade to go Long GOOG and short MSFT. You staked your margin for the trade and then depending on which way the market went, it would swing your way or another. The trades were time limited so if you picked to assets with low volatility the trade might close with no to minimal loss for instance. https://www.youtube.com/watch?v=9qEXsyC41DwThe feature that was provided by veritaseum was the Oracle that allowed the trades to complete based on closing prices. Since it was a beta, the trades were made without requiring the Ultracoin's for each trade. My understanding is that they are reworking this around Ethereum smart contracts which requires more work, although this should bring a degree of autonomy to the platform. Including a fee structure on the trades is needed to support ongoing development and demonstrate the need for the tokens, albeit even a small fee would increase demand and consumption of the tokens. |
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I think they're talking about the old UltraCoins. The previous iteration of Veritaseum built on top of bitcoin used UltraCoins.
The previous version of the platform was a peer to peer asset trading platform based on bitcoin with a feature of no counterparty risk. It was incredibly smooth in operation and quite advanced. This was released, and at the same time consulting and services were purchasable with the first coins. Shortly after the beta was released for trading, due to regulatory greyness, the trading platform was pulled from public download. Reggie and team continued to work on the big vision, and provided consulting services for those tokens. (in my estimate) The early token purchasers provided funds for growing this business to where we are now. |
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Regardless of the plan to hold or sell, I would prefer the token to be easily transferable and exchangeable to other currencies instead of the usual "get in easy, get out hard" kind of situation. Whether I am a trader or an investor, getting stuck to a position is the most undesirable thing. Yes, I may spend the token for services and researches but that's not the only two things I want from owning the token. I am sure you understand.
Veritaseum's VERI are ERC20 tokens and as demonstrated above, are already trading on the Etherdelta distributed exchange albeit in a low volume currently. In my opinion ERC20 is a very easy token to get in and out of. If you didn't want Ether, you could trade your VERI for any other asset on that exchange. I'm sure if you had to liquidate your holdings that the 1/30 rate from the crowd-sale would be accepted rapidly. The material value in the forthcoming reports will push the price up dramatically. There are no tokens for individual investors other than the crowd-sale or market price. We will very shortly see price discovery in action as Ethereum bagholders that missed out on the crowd-sale now must acquire VERI for access to the analysis. |
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Link to functional exchange. The Etherdelta exchange works. (in the past 24 hours, 471.598 VERI swapped for 31.906 ether notional value: $7,320) I have looked at it and the source code is open source. It appears to be a single developer, and he is updating it frequently. The rates may not be the best for some tokens vs other more busy exchanges, and at this point this is the first location I have found that allows converting your VERI to ether, or purchasing VERI for ether. The previous link was to the Ether market in Veritaseum. I am linking the Veritaseum market here: https://etherdelta.github.io/#0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374-ETH this is simply the same orders but the flipped around. You can use your public key / private key from your myether wallet to transfer funds into the exchange contract. There are a few training videos at the top if you need to see a walk through. If you have an opinion on what the fair market value of VERI is put some skin in the game and offer to sell or make an offer to buy. When the Augur (REP) report drops there will be a demand for VERI... |
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