VERITASEUM DISCUSSION THREAD

[coingrow]

Cliff High has been shilling this a lot!! But am I alone in thinking this is the murkiest crypto project ever?  I've visited the Veritaseum site and still could not understand what the project was doing. Can someone please just explain what the hell Veritaseum is?  If it can't be explained simply in a few sentences then that is a giant red flag.

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[Countach]

https://www.youtube.com/embed/R8snogdLWSI

8:01-11:55

[paulmaritz]

Cliff High has been shilling this a lot!! But am I alone in thinking this is the murkiest crypto project ever?  I've visited the Veritaseum site and still could not understand what the project was doing. Can someone please just explain what the hell Veritaseum is?  If it can't be explained simply in a few sentences then that is a giant red flag.

I suspect you're only here to stir the proverbial, but in case you're genuinely interested to learn more and have missed it, the following is clearly stated on the homepage of their main website: "Veritaseum enables software-driven P2P capital markets without brokerages, banks or traditional exchanges" (https://veritaseum.com). So feel at liberty to take your "giant red flag" elsewhere.

[azmojo]

Cliff High has been shilling this a lot!! But am I alone in thinking this is the murkiest crypto project ever?  I've visited the Veritaseum site and still could not understand what the project was doing. Can someone please just explain what the hell Veritaseum is?  If it can't be explained simply in a few sentences then that is a giant red flag.

I'll indulge as well.
I agree that for someone trying to discover what VERI is, it's not easy to ascertain. I don't think it's clearly spelled out anywhere in a concise easy to read format. But when you dig deeper and watch the videos and read every page of this thread and follow the team, you realize that this is something special.

There's a lot of ICOs with a lot of great ambitions. When you buy an ICO though, I think most people are buying into the ideas or business concepts (which is important), but more important is the team behind it. Once the money is raised, what are the devs doing to bring the project to fruition and add value? In the case of VERI, it is nothing short of impressive. Reggie has been non-stop promoting and selling VERI. The JSE deal is huge, and once he gets the ball rolling with a few projects I think they'll be so busy they'll be turning away business that they don't have time for.

We did get a FAQ out of the team, but perhaps the next would be a 1 page "brochure" for VERI.

[BTCBusinessConsult]

I chose to not invest in Veri because of the whole "alot of words but not a super lot said"... man did I miss out.

I chose to invest in Pillar on Clif's recommendation and I love the idea of the personal data locker.... man have I lost my shorts. LOL

Had I invested what i put into Pillar into Veri I would literally be a millionaire many times over....

[hangthebanksters]

I chose to not invest in Veri because of the whole "alot of words but not a super lot said"... man did I miss out.

I chose to invest in Pillar on Clif's recommendation and I love the idea of the personal data locker.... man have I lost my shorts. LOL

Had I invested what i put into Pillar into Veri I would literally be a millionaire many times over....

I went in on Pillar too. Give it time to germinate and grow. You may still get there yet...Remember Veri has been in development for several years unlike Pillar.

[azmojo]

I went in on Pillar too. Give it time to germinate and grow. You may still get there yet...Remember Veri has been in development for several years unlike Pillar.

With Pillar, not sure why the token would increase in price. At least with some tokens like VERI you can see how holding the tokens is valuable. Not sure I understand why the Pillar token should increase in value.

[Steffoboy]

I went in on Pillar too. Give it time to germinate and grow. You may still get there yet...Remember Veri has been in development for several years unlike Pillar.

With Pillar, not sure why the token would increase in price. At least with some tokens like VERI you can see how holding the tokens is valuable. Not sure I understand why the Pillar token should increase in value.

Ye Pillar seems to be bad investment, i heard comments from the ceo that he dosent like money and that they are in it for the community etc, and volunteering, dosent sound promising for building a business that rakes in the money and give value to the coin, also the Parity hack was a huge blow to Pillar if none, since it highlights the problems with these "safe" wallets, if u get hacked in the future with Pillar, they would steal all your life worth of data, social media etc, aswell as all your money.

[Blakesss]

The thing that gets me about Pillar is that immediately after the ICO they posted a contest to design the wallet they said they were planning...  Anyway, maybe it'll be worthwhile sometime in the future... but not for a while.

Reggie Middleton and Veritaseum Co. have put so much work into VERI. Not only is its development way further ahead, it has some tangible elements that other players in the crypto-space don't have. Patents Pending for the P-2-P capital markets, JSE-type deals here/forthcoming, low trading float. Can't wait to watch the Veritization of financial instruments.

VERI's going to be revolutionary.

[Steffoboy]

The thing that gets me about Pillar is that immediately after the ICO they posted a contest to design the wallet they said they were planning...  Anyway, maybe it'll be worthwhile sometime in the future... but not for a while.

Reggie Middleton and Veritaseum Co. have put so much work into VERI. Not only is its development way further ahead, it has some tangible elements that other players in the crypto-space don't have. Patents Pending for the P-2-P capital markets, JSE-type deals here/forthcoming, low trading float. Can't wait to watch the Veritization of financial instruments.

VERI's going to be revolutionary.

Ye i think it will be great, however i still wonder how the token's will return to the market if they are consumed when used, that would quickly consolidate all the tokens back to Veritazium, and fewer and fewer tokens would exchange hands outside the company.

[Dorky]

Whether some ICO is going to be big or otherwise, isn't dependent on its social values, like developing an all-in-one wallet like Pillar, or doing an all-in-one blockchain app like Status, but dependent on its economic values, like developing a commercial P2P platform catering to a massive market where only the token is used for deals like Veritaseum, or developing similar commercial platform with huge economic value transfer like Populous. Bix Weir in his video recommended Salt several times but I don't believe it will be big, because while Salt caters to similarly massive market, its economic value transfer is very minimal. At the same time its prospect is based on some high potential of pump-n-dump scheme because Salt users can use the token as collateral for more borrowing to buy more Salt token to be used as collateral for further borrowing to buy more Salt... you get the idea, including its extremely large gap in ICO price tiers. Any price appreciation in Salt may very likely to be unsustainable. People that look for ICO just because it's going to be hip, trendy, popular, etc, will more likely to suffer financially. You better invest in ICO with a business mindset in place, regardless of whether it is recommended by Clif High, or jsnip4, or Bix Weir, or Mike B, or anyone else. Clif High recently tweeted Reality Clash ICO, which I checked, is totally not recommended judging by how Pokemon Go craze died out in very short period of time, thus your investment in Clif High's recommendation into Reality Clash may be equally as short-lived. People playing Reality Clash may get killed, knocked down by cars, robbed, etc.

What you want is to invest in ICO that:
1) Caters to commercial market, ranging from huge (multi-trillions) to massive (in excess of 1 quadrillion), AND
2) Creates predominant (100%) or significant (over 50%) economic value transfer from such commercial market to the token holders.

The tokens that fulfill these 2 criteria in some ways and to an extent are Veritaseum, Populous, and Rialto.

Bitcoin and ethereum fulfill both criteria fully well.
Salt fulfills only 1 of the 2 criteria, thus not good enough.
Other popular ICOs like Status, Pillar, Bancor, etc, do not fulfill any of the 2 criteria at all.

[CrpToE]

Dorky have you looked at enigma.co?

[Dorky]

Dorky have you looked at enigma.co?

No, but going to. Will give a review after that.

[azmojo]

Whether some ICO is going to be big or otherwise, isn't dependent on its social values, like developing an all-in-one wallet like Pillar, or doing an all-in-one blockchain app like Status, but dependent on its economic values, like developing a commercial P2P platform catering to a massive market where only the token is used for deals like Veritaseum, or developing similar commercial platform with huge economic value transfer like Populous. Bix Weir in his video recommended Salt several times but I don't believe it will be big, because while Salt caters to similarly massive market, its economic value transfer is very minimal. At the same time its prospect is based on some high potential of pump-n-dump scheme because Salt users can use the token as collateral for more borrowing to buy more Salt token to be used as collateral for further borrowing to buy more Salt... you get the idea, including its extremely large gap in ICO price tiers. Any price appreciation in Salt may very likely to be unsustainable. People that look for ICO just because it's going to be hip, trendy, popular, etc, will more likely to suffer financially. You better invest in ICO with a business mindset in place, regardless of whether it is recommended by Clif High, or jsnip4, or Bix Weir, or Mike B, or anyone else. Clif High recently tweeted Reality Clash ICO, which I checked, is totally not recommended judging by how Pokemon Go craze died out in very short period of time, thus your investment in Clif High's recommendation into Reality Clash may be equally as short-lived. People playing Reality Clash may get killed, knocked down by cars, robbed, etc.

What you want is to invest in ICO that:
1) Caters to commercial market, ranging from huge (multi-trillions) to massive (in excess of 1 quadrillion), AND
2) Creates predominant (100%) or significant (over 50%) economic value transfer from such commercial market to the token holders.

The tokens that fulfill these 2 criteria in some ways and to an extent are Veritaseum, Populous, and Rialto.

Bitcoin and ethereum fulfill both criteria fully well.
Salt fulfills only 1 of the 2 criteria, thus not good enough.
Other popular ICOs like Status, Pillar, Bancor, etc, do not fulfill any of the 2 criteria at all.

I would modify that to include tokens where the token is basically a share of the business and you get dividends. Basically tokens that act like stocks. Then of course it has to be a lucrative/disruptive business model and have the right team behind it. Even then those won't explode immediately but will gain value as the business gets developed and sees results.

[paulmaritz]

I stayed clear from Pillar after I heard during an interview that the government will have direct access to one's Pillar wallet. No thank you.

[Steffoboy]

I stayed clear from Pillar after I heard during an interview that the government will have direct access to one's Pillar wallet. No thank you.

wow that i dident know, thats bat shit crazy

[paulmaritz]

I stayed clear from Pillar after I heard during an interview that the government will have direct access to one's Pillar wallet. No thank you.

wow that i dident know, thats bat shit crazy

To be fair, listen from this part of the interview: https://youtu.be/Y4VEa2VwzQk?t=58m40s

Some might not deem it direct access, but if they can deduct taxes from transactions I do via my Pillar wallet, personally I reckon that is like having direct access to my wallet. In addition, if you go back in that interview to around the 52m51s mark you will hear David mention the option to have a chip implanted.

This is the comment I left after watching it (shortly after it was posted on Jul 9, 2017):

"I wanted to get into Pillar, but feel otherwise after doing my own due diligence. E.g. too many tokens can potentially be issued (800m) - there will be no meat left on the bones short-term. It will most likely be pumped and then dumped, leaving many folks out of pocket.

In addition, I don't like the conflicting statements in terms of the max dollar amount that will be issued ($50m-$80m).  Furthermore, I don't like the name of the "organization" involved. Why name it 2030, the same as UN Agenda 2030?

Aly Benson sums it up perfectly: "At the end where he said that taxes can be automatically deducted with every transaction and mentioned the chip and mentioned governments want on board that has me a little worried.  Who would have the power to automatically take your money out of transactions?  Do we want any entity to have power over us (essentially we are a number a bar code to them, and they take our money out automatically as tax?)  This has me a bit worried.  Hope this isn't one world government where they control us through a chip.  Now I don't know what to think of it all...In my opinion big government is evil and they use our money to do evil...I don't want them having hands in my transactions that would put them in control, not the people.... At first it sounded good (decentralized etc), but if one entity has power to skim off your money they essentially own you  and it is not decentralized anymore.  One entity owns a lot of people again... instead of the revolution we need where a lot of people own everything and make decisions instead of a centralized power on top of them controlling them.  Any one entity having power to take money off your person is scary in my opinion.  I was with him until then end, then started thinking and I want to invest in a world where the people collectively are making decisions because average every day people are usually good and I don't want one single powerful entity controlling people or the planet.  I would say no to working with governments.  This is not their business, this is the people's business.  Why involve them?"

My gut feeling smells a rat. Contrary to my initial statements, I am staying clear of this one and advise others to do the same."

[Steffoboy]

I stayed clear from Pillar after I heard during an interview that the government will have direct access to one's Pillar wallet. No thank you.

wow that i dident know, thats bat shit crazy

To be fair, listen from this part of the interview: https://youtu.be/Y4VEa2VwzQk?t=58m40s

Some might not deem it direct access, but if they can deduct taxes from transactions I do via my Pillar wallet, personally I reckon that is like having direct access to my wallet. In addition, if you go back in that interview to around the 52m51s mark you will hear David mention the option to have a chip implanted.

This is the comment I left after watching it (shortly after it was posted on Jul 9, 2017):

"I wanted to get into Pillar, but feel otherwise after doing my own due diligence. E.g. too many tokens can potentially be issued (800m) - there will be no meat left on the bones short-term. It will most likely be pumped and then dumped, leaving many folks out of pocket.

In addition, I don't like the conflicting statements in terms of the max dollar amount that will be issued ($50m-$80m).  Furthermore, I don't like the name of the "organization" involved. Why name it 2030, the same as UN Agenda 2030?

Aly Benson sums it up perfectly: "At the end where he said that taxes can be automatically deducted with every transaction and mentioned the chip and mentioned governments want on board that has me a little worried.  Who would have the power to automatically take your money out of transactions?  Do we want any entity to have power over us (essentially we are a number a bar code to them, and they take our money out automatically as tax?)  This has me a bit worried.  Hope this isn't one world government where they control us through a chip.  Now I don't know what to think of it all...In my opinion big government is evil and they use our money to do evil...I don't want them having hands in my transactions that would put them in control, not the people.... At first it sounded good (decentralized etc), but if one entity has power to skim off your money they essentially own you  and it is not decentralized anymore.  One entity owns a lot of people again... instead of the revolution we need where a lot of people own everything and make decisions instead of a centralized power on top of them controlling them.  Any one entity having power to take money off your person is scary in my opinion.  I was with him until then end, then started thinking and I want to invest in a world where the people collectively are making decisions because average every day people are usually good and I don't want one single powerful entity controlling people or the planet.  I would say no to working with governments.  This is not their business, this is the people's business.  Why involve them?"

My gut feeling smells a rat. Contrary to my initial statements, I am staying clear of this one and advise others to do the same."

Ye well i dont think thats the mark of the beast system, i think he is insane, no one would use a wallet with government association, the mark of the beast system will be connected to the United Nations database that has files already of every living man woman and child on the planet. They will force your income to be with them, or if you will, United Nations will be the only employer there is, most likely by dictate, eg an open slave society.

i Have a small position in that crap, i wish i knew. What a bunch of idiots, the tax authority's would just open some ether accounts or bitcoin accounts for you to send to so you can pay taxes that way if they want to. As it is now, cryptos is no friends of government cause they cant control it. I think that Pillar dudes have smoked to much funny herbs, they must have gone to far, it cant succeed if they do it like that, people will refuse.

I think i figured why its named 2030, the crack smoker think this will all be implemented between 2020 and 2030, he talks about no ownership and other communistic pipe dreams all the time.

[paulmaritz]

I stayed clear from Pillar after I heard during an interview that the government will have direct access to one's Pillar wallet. No thank you.

wow that i dident know, thats bat shit crazy

To be fair, listen from this part of the interview: https://youtu.be/Y4VEa2VwzQk?t=58m40s

Some might not deem it direct access, but if they can deduct taxes from transactions I do via my Pillar wallet, personally I reckon that is like having direct access to my wallet. In addition, if you go back in that interview to around the 52m51s mark you will hear David mention the option to have a chip implanted.

This is the comment I left after watching it (shortly after it was posted on Jul 9, 2017):

"I wanted to get into Pillar, but feel otherwise after doing my own due diligence. E.g. too many tokens can potentially be issued (800m) - there will be no meat left on the bones short-term. It will most likely be pumped and then dumped, leaving many folks out of pocket.

In addition, I don't like the conflicting statements in terms of the max dollar amount that will be issued ($50m-$80m).  Furthermore, I don't like the name of the "organization" involved. Why name it 2030, the same as UN Agenda 2030?

Aly Benson sums it up perfectly: "At the end where he said that taxes can be automatically deducted with every transaction and mentioned the chip and mentioned governments want on board that has me a little worried.  Who would have the power to automatically take your money out of transactions?  Do we want any entity to have power over us (essentially we are a number a bar code to them, and they take our money out automatically as tax?)  This has me a bit worried.  Hope this isn't one world government where they control us through a chip.  Now I don't know what to think of it all...In my opinion big government is evil and they use our money to do evil...I don't want them having hands in my transactions that would put them in control, not the people.... At first it sounded good (decentralized etc), but if one entity has power to skim off your money they essentially own you  and it is not decentralized anymore.  One entity owns a lot of people again... instead of the revolution we need where a lot of people own everything and make decisions instead of a centralized power on top of them controlling them.  Any one entity having power to take money off your person is scary in my opinion.  I was with him until then end, then started thinking and I want to invest in a world where the people collectively are making decisions because average every day people are usually good and I don't want one single powerful entity controlling people or the planet.  I would say no to working with governments.  This is not their business, this is the people's business.  Why involve them?"

My gut feeling smells a rat. Contrary to my initial statements, I am staying clear of this one and advise others to do the same."

Ye well i dont think thats the mark of the beast system, i think he is insane, no one would use a wallet with government association, the mark of the beast system will be connected to the United Nations database that has files already of every living man woman and child on the planet. They will force your income to be with them, or if you will, United Nations will be the only employer there is, most likely by dictate, eg an open slave society.

i Have a small position in that crap, i wish i knew. What a bunch of idiots, the tax authority's would just open some ether accounts or bitcoin accounts for you to send to so you can pay taxes that way if they want to. As it is now, cryptos is no friends of government cause they cant control it. I think that Pillar dudes have smoked to much funny herbs, they must have gone to far, it cant succeed if they do it like that, people will refuse.

Absolutely.  In addition, it might be of interest to you to know that Nero Caesar was the Beast as mentioned in the Book of Revelation. The Jews in power at the time used Poppaea Sabina to control Nero from behind the scenes - until he got so insane that he kicked her to death. He was also known as the "Beast of Rome," because he dressed up in animal skins and pretended to devour the private parts of naked boys and girls tied to stakes. If you study history, you will see that a "mark of the beast system" was deployed during his reign. Nonetheless, it doesn't take away from modern day efforts to control and fully enslave us. In any case, that is as far as I am prepared to entertain the subject here.

[Steffoboy]

I stayed clear from Pillar after I heard during an interview that the government will have direct access to one's Pillar wallet. No thank you.

wow that i dident know, thats bat shit crazy

To be fair, listen from this part of the interview: https://youtu.be/Y4VEa2VwzQk?t=58m40s

Some might not deem it direct access, but if they can deduct taxes from transactions I do via my Pillar wallet, personally I reckon that is like having direct access to my wallet. In addition, if you go back in that interview to around the 52m51s mark you will hear David mention the option to have a chip implanted.

This is the comment I left after watching it (shortly after it was posted on Jul 9, 2017):

"I wanted to get into Pillar, but feel otherwise after doing my own due diligence. E.g. too many tokens can potentially be issued (800m) - there will be no meat left on the bones short-term. It will most likely be pumped and then dumped, leaving many folks out of pocket.

In addition, I don't like the conflicting statements in terms of the max dollar amount that will be issued ($50m-$80m).  Furthermore, I don't like the name of the "organization" involved. Why name it 2030, the same as UN Agenda 2030?

Aly Benson sums it up perfectly: "At the end where he said that taxes can be automatically deducted with every transaction and mentioned the chip and mentioned governments want on board that has me a little worried.  Who would have the power to automatically take your money out of transactions?  Do we want any entity to have power over us (essentially we are a number a bar code to them, and they take our money out automatically as tax?)  This has me a bit worried.  Hope this isn't one world government where they control us through a chip.  Now I don't know what to think of it all...In my opinion big government is evil and they use our money to do evil...I don't want them having hands in my transactions that would put them in control, not the people.... At first it sounded good (decentralized etc), but if one entity has power to skim off your money they essentially own you  and it is not decentralized anymore.  One entity owns a lot of people again... instead of the revolution we need where a lot of people own everything and make decisions instead of a centralized power on top of them controlling them.  Any one entity having power to take money off your person is scary in my opinion.  I was with him until then end, then started thinking and I want to invest in a world where the people collectively are making decisions because average every day people are usually good and I don't want one single powerful entity controlling people or the planet.  I would say no to working with governments.  This is not their business, this is the people's business.  Why involve them?"

My gut feeling smells a rat. Contrary to my initial statements, I am staying clear of this one and advise others to do the same."

Ye well i dont think thats the mark of the beast system, i think he is insane, no one would use a wallet with government association, the mark of the beast system will be connected to the United Nations database that has files already of every living man woman and child on the planet. They will force your income to be with them, or if you will, United Nations will be the only employer there is, most likely by dictate, eg an open slave society.

i Have a small position in that crap, i wish i knew. What a bunch of idiots, the tax authority's would just open some ether accounts or bitcoin accounts for you to send to so you can pay taxes that way if they want to. As it is now, cryptos is no friends of government cause they cant control it. I think that Pillar dudes have smoked to much funny herbs, they must have gone to far, it cant succeed if they do it like that, people will refuse.

Absolutely.  In addition, it might be of interest to you to know that Nero Caesar was the Beast as mentioned in the Book of Revelation. The Jews in power at the time used Poppaea Sabina to control Nero from behind the scenes - until he got so insane that he kicked her to death. He was also known as the "Beast of Rome," because he dressed up in animal skins and pretended to devour the private parts of naked boys and girls tied to stakes. If you study history, you will see that a "mark of the beast system" was deployed during his reign. Nonetheless, it doesn't take away from modern day efforts to control and fully enslave us. In any case, that is as far as I am prepared to entertain the subject here.

I know that they say that, but the beast system is the last system there will be on this earth, after that the earth will be destroyed, according to this fellow christian Paul Sandhu all the revelations is yet to come in the future, you might want to listen https://youtu.be/h9liiZMNvFk