VERITASEUM DISCUSSION THREAD

[Reggie Middleton]

Thanks all!

Been looking at that EtherDelta exchange price for VERI/ETH... going the wrong way at the moment but time will tell! It's so illiquid at the moment anyway that the price on there is probably not reality. I think when big exchanges take this on we will see much more favourable prices and probably medium-to-long term growth with the usual shocks.

We set up the Etherdelta VERI ticker as an experiment. Please be aware that Etherdelta has very little traffic and liquidity, and no ability to trade for fiat, hence the trade results there will be very different from something like Kraken or Bittrex, or even Poloniex. Fiat is how nearly 99% of new users onboard exchanges, and I'd suppose that 85% of experienced users onboard exchanges through capital gains from BTC, ETH or DASH.

Etherdelta will not reflect any or this liquidity or demand. In addition, I'm petitioning the sell side institutions. If I, my staff or agents succeed, then the volumes you currently see in even the biggest exchanges will fail in comparison.

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[Reggie Middleton]

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 don't see how they kept working on it and not have anything to show for it a couple years later.

How do you come to the conclusion that we have nothing to show for it? Seriously! We have fully functional beta (running in the wild for 3 years as on open beta that generated revenue through disparate user base) in addition to multiple patent applications with priority dates that predate everyone that we know of - and that seem to be fertile ground.

[Reggie Middleton]

I couldn't agree more. In addition, some even use the interview Tone Vays had with Reggie (https://youtu.be/GfiTk8Z1Pa0) as proof that Veritaseum is a scam. It is laughable to say the least. I suspect someone out there is being paid a lot of money to misdirect potential participants, not only when it comes to Veritaseum, but crypto tokens in general. They normally lie and claim some form of authority.... "I am a software engineer," "I have been an investor in cryptos since the beginning, but this smells like a scam to me" and more. Press them a bit and it quickly becomes clear that they don't know what they are talking about.

In short: They are either bought and paid for or the dumbest trolls around!

I just took the time and trouble to watch the video to completion and these are what I can say:

1. The video itself does not indicate the Veritaseum project is a scam BUT the interviewer's concerns and confusions are certainly perfectly valid.
2. Reggie described the project as if it is a non-standardized service platform, which if that's the case then I believe the usage would be extremely limited. The main reason why the futures market is way more popularly participated (and most likely much bigger) than the forward market is probably because the futures market trades standardized contracts (never mind the 3rd-party involved which Veritaseum seeks to get rid of).
3. Reggie shifted his project from Bitcoin blockchain to Ethereum blockchain because of regulatory concerns. What regulatory concerns would impair the Veritaseum project and why is that so? Basically I don't believe anything will be allowed to continue persisting for long without regulatory oversight sooner or later, so if regulation is finally in place on both Bitcoin and Ethereum's blockchains, does that mean Veritaseum's project will be as good as gone?
4. I am still unclear of Reggie's regular customer base because this is very important to gauge the existing value of the Veritas tokens. If Reggie's customer base before Veritas existed was tiny, then it's very likely the ready market of potential customers to actually buy Veritas for Reggie's researches would be very very small too, thus limiting the price appreciation and adoption of Veritas tokens.
5. Has Reggie answered the interviewer's unanswered questions in the 2nd half of the video, or are they remain unanswered?
6. Ultracoin historical price chart is basically a failure and most likely no longer recoverable. What will Reggie do to stop the same pricing destiny from happening to Veritas?

Note: I am neither bought and paid for nor the dumbest troll. I am intelligent enough to pursue the CFA program thru self-study (passed Level 2 exam but dropped out because I can't find relevant job with it) with zero background and pursued computer programming (thru self-study as well) to develop my own proprietary trading algorithm program (on my own one-man show), so I believe I am both financially and technically competent to question, to say the least.

Beside that, I strongly believe Reggie needs to polish up his way of explaining things to make it more understandable to those who are not financially-inclined. Even I have a hard time trying to fit all the jigsaw pieces together without the need to ask for more questions. And finally, I strongly believe Veritas needs a good logo for it to catch potential stakeholders' attention.

I believe I answered all of Tone's questions completely, at least those questions that I was present to answer. I made it clear to him I had a call at a certain time, and that call came in. I've known Tone for some time now, and he's a good guy... but, be aware that his claim to fame is as an anti-altcoin contrarian. That's what he does, and that, in part, is why people tune in to him. The other reason they do so is because he does do his homework, and I respect him for that.

* Reggie described the project as if it is a non-standardized service platform, which if that's the case then I believe the usage would be extremely limited.*
Is the usage of the Internet extremely limited because the content is non-standardized? I doubt so. You have to retrain your thought processes to understand the power of autonomy and freedom.

*Reggie shifted his project from Bitcoin blockchain to Ethereum blockchain because of regulatory concerns.*
That's not true.

*What regulatory concerns would impair the Veritaseum project and why is that so?*
CFTC regulation of bitcoin, and the potential interpretation of Dodd Frank and SEF registration.

*I am still unclear of Reggie's regular customer base because this is very important to gauge the existing value of the Veritas tokens.*
This makes no sense, or at the very least is highly discriminatory. What was the regular customer base of Ethereum when they launched their crowdsale? How about Bitcoin? The most successful token sales didn't have an extant customer base at launch, or even a year after.

*If Reggie's customer base before Veritas existed was tiny, then it's very likely the ready market of potential customers to actually buy Veritas for Reggie's researches would be very very small too, thus limiting the price appreciation and adoption of Veritas tokens.*
This makes no sense either. Suppose my customer base was small (as it was compared to many newsletters) but contained multiple billionaires, family offices, central banks of developed nations, etc.? Which it did.

*Has Reggie answered the interviewer's unanswered questions in the 2nd half of the video, or are they remain unanswered?*
I answered all questions, in full detail, that were asked of me directly. I can't answer questions that were asked in my absence, and I made it very clear to all who interview me that I will not engage in conversation of regulatory law or regulations in public. There is simply no upside to it.

*Ultracoin historical price chart is basically a failure and most likely no longer recoverable. What will Reggie do to stop the same pricing destiny from happening to Veritas?*
You are apparently misinformed. Ultracoin was the moniker for a P2P value trading platform. It did not have a token itself that traded at all, not to mention a "historical price chart is basically a failure and most likely no longer recoverable". You are spreading false information and then attempting to lend credibility to said information with the assertion that you have passed a CFA exam. You would benefit the community more if you paid more attention to detail. There was an altcoin called Ultracoin that had no affiliation to us, whatsoever, and a cursory glance at both of us easily revealed that.

*I strongly believe Reggie needs to polish up his way of explaining things to make it more understandable to those who are not financially-inclined. Even I have a hard time trying to fit all the jigsaw pieces together without the need to ask for more questions.*

That is because you (a CFA candidate, and a programer) are not the initial target market for the project. We are looking for buyside institutions, UHNW and family offices in the beginning. None of this leads us to believe that we should hone the message more to that  of a CFA candidate. As we gain traction, we want to broaden the net, hence will soften and diversify the message some, making it more palatable to the typical lay person. As for now, this is targeted professional's tool.

[jbl888]

 

*drops mic

Love ya Reggie! ... you are a pro ... Don't mess with the Contrarian Badass!! ... can't wait to see where this journey for The Truth (Veritas) leads us all!!

I'm all in for Veritaseum Veritas!!!

[Dorky]

Is the usage of the Internet extremely limited because the content is non-standardized? I doubt so. You have to retrain your thought processes to understand the power of autonomy and freedom.

Is your product an internet tool or a financial tool, at least at this stage of development, never mind what's your future plan with it? I was comparing your product to something very closely related. Why are you comparing it to the Internet, which is like apple to orange?

This makes no sense, or at the very least is highly discriminatory. What was the regular customer base of Ethereum when they launched their crowdsale? How about Bitcoin? The most successful token sales didn't have an extant customer base at launch, or even a year after.

The reason why I need to know your extant customer base is to have an assurance (a minimal one) that there is a "floor" to my investment risk. It makes no sense to you because you do not see from my perspective. Bitcoin was not successful within the first 2 years if not with the help of certain group of people that keep promoting it and then an exchange emerging (Mt. Gox) providing price-making to it. A bulk of the adoption took place after the price took off, not when Bitcoin was relatively worthless and useless compare to itself today. When did you start paying serious attention to Bitcoin? Was it in 2013, or in 2009 just when it started? And why?

This makes no sense either. Suppose my customer base was small (as it was compared to many newsletters) but contained multiple billionaires, family offices, central banks of developed nations, etc.? Which it did.

What I meant by tiny customer base isn't just the number of customers, but also the level of sales that these customers can bring in. Multiple billionaires (or just a couple) bringing in millions of dollars in regular businesses is very good with me but unless this info is coming from you, I cannot speculate.

You are apparently misinformed. Ultracoin was the moniker for a P2P value trading platform. It did not have a token itself that traded at all, not to mention a "historical price chart is basically a failure and most likely no longer recoverable". You are spreading false information and then attempting to lend credibility to said information with the assertion that you have passed a CFA exam. You would benefit the community more if you paid more attention to detail. There was an altcoin called Ultracoin that had no affiliation to us, whatsoever, and a cursory glance at both of us easily revealed that.

It is a slander to say I am spreading false information and try lending credibility to said information with passing the CFA exams.

I didn't know Ultracoin was not related to you. I only remember that you were involved in your own coin called Ultracoin several years back and that leads me to think they are the same. Of course I didn't expect anyone to infringe on any trademark and got away with it and thus it did not cross my mind that there could be 2 different Ultracoins. Neither did I expect anyone to use any unique name and did not attach any trademark to it, eventually causing confusion.

By the way, I have the duty to ask questions. I may be misinformed, or uninformed, or make no sense to you, but I don't want to lose my money for any reason. If there are smart questions that you expect to be asked, you can tell me what are these smart questions.

There is no question that doesn't make sense just as there is no stupid question.

That is because you (a CFA candidate, and a programer) are not the initial target market for the project. We are looking for buyside institutions, UHNW and family offices in the beginning. None of this leads us to believe that we should hone the message more to that  of a CFA candidate. As we gain traction, we want to broaden the net, hence will soften and diversify the message some, making it more palatable to the typical lay person. As for now, this is targeted professional's tool.

I was a trader too. That was precisely why I learned programming to translate my system to an automated one. It wasn't out of fun or curiosity. So it's not all academic stuff. The issue is not whether I passed any exam and thus claim to have any bragging right. The issue is if your presentation is not even understandable to a guy educated in finance along with trading experiences like me, then imagine what is the impact of your presentation to the general audience. And if you do not cater to the general audience, but just specific type/class of clientele, then why bother reaching out to us? And I am very sure that just because a person is UHNW doesn't mean he/she will definitely understand your presentation, as if their net wealth alone makes them much more savvy than others. There are a lot of filthy rich people in my country that don't understand what I understand. And just in case you might misunderstand me trying to spread false information, no. The way I see it is that your presentation represents your marketing. Great marketing will meet great success, even if the product sucks. Bad marketing will meet great failure, even if the product is great. Your product may be great, but I prefer that your idea can be more understandable to the general audience for better adoption, as I've said before.

My suggestion on polishing your presentation is with good intent. Don't be overtly defensive. Nobody is perfect.

[stereotype]

Is the user "Masiah" part of the team? Can you confirm Reggie?

I assume he is, since Reggie hasnt said anything about Masiah speaking in 'we' terms, but youre right to ask. I need it confirmed before i can deal with him regarding swapping my old VERI for new.

[Josef27]

So all of a sudden my VERI tokens are not showing up in myetherwallet.com is it just me?

 you can enter your *Ethereum address  in the below link..

In the Filter By: (* section) and hit apply. It will show how many tokens you have.

https://etherscan.io/token/0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374

[Josef27]

Is the user "Masiah" part of the team? Can you confirm Reggie?

Yes Masiah is.. I can confirm. Masiah added me to slack and had discussions with Masiah and Reggie via slack channel/ regarding adding a slack bot for auto invites etc..  Reggie had me give info to Masiah. Masiah is part of the Team.



Some backup all i could find with a quick search
https://www.ultra-coin.com/current-analysis/author/24018-masiahmiddleton

[Masiah]

Is the user "Masiah" part of the team? Can you confirm Reggie?

I assume he is, since Reggie hasnt said anything about Masiah speaking in 'we' terms, but youre right to ask. I need it confirmed before i can deal with him regarding swapping my old VERI for new.

If you do not trust me or my veritaseum email feel free to email reggie about the conversion of your tokens.

[Reggie Middleton]

The reason why I need to know your extant customer base is to have an assurance (a minimal one) that there is a "floor" to my investment risk. It makes no sense to you because you do not see from my perspective. Bitcoin was not successful within the first 2 years if not with the help of certain group of people that keep promoting it and then an exchange emerging (Mt. Gox) providing price-making to it. A bulk of the adoption took place after the price took off, not when Bitcoin was relatively worthless and useless compare to itself today. When did you start paying serious attention to Bitcoin? Was it in 2013, or in 2009 just when it started? And why?

This makes no sense either. Suppose my customer base was small (as it was compared to many newsletters) but contained multiple billionaires, family offices, central banks of developed nations, etc.? Which it did.

What I meant by tiny customer base isn't just the number of customers, but also the level of sales that these customers can bring in. Multiple billionaires (or just a couple) bringing in millions of dollars in regular businesses is very good with me but unless this info is coming from you, I cannot speculate.

You are apparently misinformed. Ultracoin was the moniker for a P2P value trading platform. It did not have a token itself that traded at all, not to mention a "historical price chart is basically a failure and most likely no longer recoverable". You are spreading false information and then attempting to lend credibility to said information with the assertion that you have passed a CFA exam. You would benefit the community more if you paid more attention to detail. There was an altcoin called Ultracoin that had no affiliation to us, whatsoever, and a cursory glance at both of us easily revealed that.

It is a slander to say I am spreading false information and try lending credibility to said information with passing the CFA exams.

I didn't know Ultracoin was not related to you. I only remember that you were involved in your own coin called Ultracoin several years back and that leads me to think they are the same. Of course I didn't expect anyone to infringe on any trademark and got away with it and thus it did not cross my mind that there could be 2 different Ultracoins. Neither did I expect anyone to use any unique name and did not attach any trademark to it, eventually causing confusion.

By the way, I have the duty to ask questions. I may be misinformed, or uninformed, or make no sense to you, but I don't want to lose my money for any reason. If there are smart questions that you expect to be asked, you can tell me what are these smart questions.

There is no question that doesn't make sense just as there is no stupid question.

That is because you (a CFA candidate, and a programer) are not the initial target market for the project. We are looking for buyside institutions, UHNW and family offices in the beginning. None of this leads us to believe that we should hone the message more to that  of a CFA candidate. As we gain traction, we want to broaden the net, hence will soften and diversify the message some, making it more palatable to the typical lay person. As for now, this is targeted professional's tool.

I was a trader too. That was precisely why I learned programming to translate my system to an automated one. It wasn't out of fun or curiosity. So it's not all academic stuff. The issue is not whether I passed any exam and thus claim to have any bragging right. The issue is if your presentation is not even understandable to a guy educated in finance along with trading experiences like me, then imagine what is the impact of your presentation to the general audience. And if you do not cater to the general audience, but just specific type/class of clientele, then why bother reaching out to us? And I am very sure that just because a person is UHNW doesn't mean he/she will definitely understand your presentation, as if their net wealth alone makes them much more savvy than others. There are a lot of filthy rich people in my country that don't understand what I understand. And just in case you might misunderstand me trying to spread false information, no. The way I see it is that your presentation represents your marketing. Great marketing will meet great success, even if the product sucks. Bad marketing will meet great failure, even if the product is great. Your product may be great, but I prefer that your idea can be more understandable to the general audience for better adoption, as I've said before.

My suggestion on polishing your presentation is with good intent. Don't be overtly defensive. Nobody is perfect.

I'm not being overly defensive, I'm being factual. If you post something that is not true, and I call you on it, it is not slander - It's the truth! You stated that our coin was a failure due to historical price charts. That is not the truth, you were corrected. I'm all for everyone doing due diligence and research, but you need to do just that. You took a cursory glance, and in effect, actually slandered us.

You still don't understand the Veritaseum opportunity. I tell you the product is not aimed at you as a target audience and you state you studied for a CFA test, are a developer, and now you say you are a trader. None of that qualifies you as our target audience. We are looking for buyside investors and/or owner/operators fo illiquid assets or those assets with high friction costs. Being a trader has absolutely nothing to do with the the Veritaseum value proposition. The same goes for CFA certification candidacy (it's actually just a test) or being a developer.

You then attempt to hold us at a different bar than the entire industry by discussing extant user bases (which we've had for a decade) and such. This is misleading if not downright erroneous to most, since the three most outstanding tokens in regards to risk adjusted reward, and absolute reward had no extant user base at all at inception.

The most important point to address is your statement of looking after your "investment". Veritaseum is a P2P value exchange exchange tool in the form of distributed software. It is not an investment and we have never marketed it as an investment. As a matter of fact, we went out of our way to illustrate that it is a software tool and not an investment. Now, that does not mean that you can't speculate on Veritas, just as you can speculate on Vinyl LPs, comic books or Beanie Babies, but that is not how we are selling it.
Again, I'm not being defensive, I'm being factual and I desire the same from all.

[Reggie Middleton]

Is the user "Masiah" part of the team? Can you confirm Reggie?

Masiah is Veritaseum's first intern. He's been invaluable in assisting in chewing through the massive email (and soon, voicemail) cue that has built up. He's also very talented and I'm quite proud of him :-)

You are correct to be cautious, for Veritaseum email has been spoofed before. If you get a suspicious email from the Veritaseum domain, check the security cert. and make sure the entire root domain is spelled EXACTLY as you see it in our website - or - email in to support using direct links from our site (do not Google search it - very risky) to confirm.

[stereotype]

Is the user "Masiah" part of the team? Can you confirm Reggie?

Masiah is Veritaseum's first intern. He's been invaluable in assisting in chewing through the massive email (and soon, voicemail) cue that has built up. He's also very talented and I'm quite proud of him :-)

You are correct to be cautious, for Veritaseum email has been spoofed before. If you get a suspicious email from the Veritaseum domain, check the security cert. and make sure the entire root domain is spelled EXACTLY as you see it in our website - or - email in to support using direct links from our site (do not Google search it - very risky) to confirm.

Perfect. Thanks for the confirm.

[whoareyou4]

Is the user "Masiah" part of the team? Can you confirm Reggie?

Masiah is Veritaseum's first intern. He's been invaluable in assisting in chewing through the massive email (and soon, voicemail) cue that has built up. He's also very talented and I'm quite proud of him :-)

You are correct to be cautious, for Veritaseum email has been spoofed before. If you get a suspicious email from the Veritaseum domain, check the security cert. and make sure the entire root domain is spelled EXACTLY as you see it in our website - or - email in to support using direct links from our site (do not Google search it - very risky) to confirm.

I've got a question...

In one of your videos you mentioned that your research is what you get when one buys VERI. So, lets say that there are a lot of buy ins from individuals and institutions and your plan works well. Over time, wouldn't the VERI ultimately end up concentrated at your organization? How would new parties who have interest in your work get access to it in that case?

[Reggie Middleton]

They can simply buy it from us (or from you). Think of other successful software vendors. Microsoft has most of its software concentrated at its firm, but has a vested interest in spreading it as far and as wide as possible. We're no different.

[whoareyou4]

They can simply buy it from us (or from you). Think of other successful software vendors. Microsoft has most of its software concentrated at its firm, but has a vested interest in spreading it as far and as wide as possible. We're no different.

Makes sense. Thanks!

[Acalon]

I'm ALIVE!!! Excuse my infant technical brain as it adjusts to this new forum. Glad to have Veritaseum and looking forward to learning more on the potential future uses for this token/coin/smart contract/platform/tech-deity...

 I know these forums are permeated by very left brain techie people, strange emotio-poetic excuberant rantings with no specified end goal in sight can be seen as simple trolling and bad behaviour. Let me assure you right now, that is not at all my intent. I will attempt to reconfigure my normal neuro-reactive tendencies to better fit into the neuro-format of this most esteemed forum of supremely logical people exploring the outer recesses of the unexplored Cryptoverse!!!

Processing...

might take a few minutes...

...


 Ok, that should do it

Hi, just thought I'd introduce my self  I'm an entrepreneur, currently working on a robot thing at Imperial and I'm very interested in Vertaseum and what it might be able to do for the future of IoT, if anyone has some specific insight let me know. Otherwise I will do my own due dilligence and research through all the Veritaseum info (Which I've only skimmed so far, but enough to invest heavily, relatively speaking).

[someguy7]

Hi everyone,

in this video at minute 8:00, Clif High gives a great explanation and the vast potential of Veritaseum, and he seems quite excited about it:
https://youtu.be/R8snogdLWSI?t=481

[heymann]

"people don't know what they have with these Veritaseum coins"

Clif's no dummy that's for sure.  Really appreciated how he broke down the token "rental" idea.   Perpetual harvesting at redemption windows. How altcoins with practical use will be the ones that have staying power.

The segment confirmed the three aspects (research reports, bot to bot trading and smart contracts) of Veritaseum as visualized.  Really good explanation of things.

[dave3]

Looking forward to the day when I can put my VERI token and some ETH into Skynet and have the robots do the trading for me.

[rockanore]

Wow great concept what's the potential price in the short term if all reggie says goes to plan, I need to get some i missed the boat on the ico