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Why did this announcement (which was right on time according to the countdown) caused a dip on VeChain's value? It seems to have stabilized, but I thought it would cause the price to go up. Maybe it will rise quickly from here, so it might be a good time to buy some VEN right now, I'm not sure.
Yeah, its a good question. Me as a VEN tokenholder myself i saw the news as very positive. Clear 2 coin system that ensures that tokenholders are getting dividents from just holding the token. Remember, most of the tokens are just that, tokens. Theyre not shares of a company. But now like Neo has Gas, Vechain has Thor power. Add to that the numerous huge partnerships and for me its a case of hold for the mid-long term. So why is the price dropping? I dont know, whales? Or maybe just us normal people are too used to pump and dumps without thinking of the infrastructure and the real potential behind each coin and follow the "sell high, buy low"-mantra too much. Modum, wabi, walton are ofcourse competitors in the same field. But its a huge field! And its a field that i think we're going to see the first serious in real life adaptations of the blockchain on a bigger scale. Quick read from a couple days ago: https://steemit.com/iot/@neo12/top-eight-reason-s-i-m-buying-vechain-ven-vetHappy holding everyone, whatever it is that youve decided to hold!  |
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https://medium.com/@vechainofficial/vechain-apotheosis-part-ii-thor-power-forged-974111a93278The valuation of VET has two pillars to support it.
Firstly, VET represents the right and privilege to occupy and use the public Blockchain resources of VeChain Thor. Whoever holds more VET means the holder inherits more rights and higher priority to use VeChain Thor Blockchain that will be linked to THOR POWER.
In other words, whoever is holding VET will be given THOR Power to use VeChain as long as the Thor Power required to perform such tasks is less than the Thor Power available in their balance. (e.g., running an applications and smart contracts hosted on VeChain Blockchain).
Secondly, VET is the smart payment currency to carry out the economic and business activities running on VeChain Thor Blockchain. The total business volume contributes a critical portion of total valuation of entire VET circulation.
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Nice market manipulation disguised as marketing.
Anyway, thanks for 5,000% profit!
I'm all-out! (sorry for dip)
Yeah dont like the timing of the promo at all either  Don't see a dip coming tho... |
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The countdown is correct.
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Wow, big thanks ! But somebody told me that the countdown is not correct, he said the announcement will be at 6 am EST, I am not sure.
I am holding some Ven and got a lot of Elixir, maybe I will sell some Elixir to get more Ven
Oh ok, gotta check up on that exact time again closer then. Im sure its gonna be mentioned here/twitter etc. Np and good luck with whatever decision u go with |
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Oh yeah and this https://support.binance.com/hc/en-us/articles/115003699452Happy New Year! A Competition for All Binancians & VEN Fans！
Lucky Draw:
To celebrate a Happy New 2018, all Binance users that trade at least 1 BTC equivalent volume of VEN (Buys & Sells) during the competition period will be put into a Lucky Draw with the following format:
One very lucky Binancian will become the new owner of a BMW i8!
We will then complete another 60 lucky draws one-by-one, with 60 lucky Binancians equally splitting a pool of 300,000 VEN, or 5,000 VEN each.
To ensure fairness of the draw, the event will be broadcasted live on multiple social media platforms to cater for all audiences.
Trading Competition:
We have also committed a second BMW i8 and 100,000 VEN to give away to our fans and traders worldwide. Users will be ranked from 1st to 20th based on net purchases (Buys minus Sells) in the VEN/BNB market only during the competition period. Rewards will be allocated as following:
1st Place will receive a BMW i8
2nd Place will receive 20,000 VEN
3rd Place will receive 10,000 VEN
4th-20th: will each equally split a pool of 70,000 VEN |
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Okay, but we don't know the announcement, maybe it is not a big deal because it has to be something big to jump to 3-4 bucks.
Whats happening here is that VeChain VEN token is an ERC20 token since it was used in the ICO for conveniency reasons on the ethereum blockchain. Now, as planned, VeChain is evolving to use its own blockchain called Thor, and while this all is happening the old VEN tokens are transformed into VET tokens on the new Thor network. Its been talked that they finally release exact info on what the reward system will be for the tokenholders. The VeChain foundation also said that VET tokens wont be used in the Thor network, so its been speculated that they release a "gas-like" token that is used to run the blockchain and the VET tokens themselves produce this "gas like"- token for the tokenholders. |
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Please consider having a look at the VeChain (VEN) withdrawal fees. Its 5 tokens and it being 2+ usd its getting a bit out of hand. You're running the new years promo with the them and all. Thank you! ..oh and congrats on being the new number one crypto currency in the world! Awesome job! |
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Is this an ERC20 token and it changes into its own blockchain when the mainnet is released on the 24th of jan?
Another question, is there any specific plans on masternodes or other such "reward" systems that return actual value to the token holder?
Really interesting project! Cant wait to learn more.
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