VERITASEUM DISCUSSION THREAD

[rockanore]

ETHA DELTA is back online now

[stereotype]

Really am struggling to understand why people buy things they don't understand.

FOMO greed.

[Honest Tim]

“Of course, like many who are new to this [blockchain] technology, we were skeptical of the claims being made.” says Catalyst Managing Partner Ward Corbett. “After being walked through Veritaseum’s capabilities, its potential becomes crystal clear to anyone paying attention. We are able to synthetically short European banks with the USDEUR pair or go long Google equity exposure by paying oil exposure. All in all, we can essentially custom design any bespoke exposure we can envision, literally in minutes.”

http://www.coindesk.com/press-releases/hedge-fund-trades-blockchain-without-bank/

This short article is over a year old, but well worth the quick read!

[jbl888]

“Of course, like many who are new to this [blockchain] technology, we were skeptical of the claims being made.” says Catalyst Managing Partner Ward Corbett. “After being walked through Veritaseum’s capabilities, its potential becomes crystal clear to anyone paying attention. We are able to synthetically short European banks with the USDEUR pair or go long Google equity exposure by paying oil exposure. All in all, we can essentially custom design any bespoke exposure we can envision, literally in minutes.”

http://www.coindesk.com/press-releases/hedge-fund-trades-blockchain-without-bank/

This short article is over a year old, but well worth the quick read!

This guy gets it ... at least for finance ... now onto the rest of F.I.R.E. ... Insurance and Real Estate ... and healthcare ... and to be named later ... Insurance and Real Estate are not even included in the $1.635 Quadrillion ... but the guy who didn't get in and still doesn't want to get in @ 4:1 VERI:ETH assures me HE GETS IT ... you are buying into Goldman Sachs, Berkshire Hathaway, and every major insurance company, national bank, stock exchange, and currency exchange at their inception ... all in one purchase: when you buy VERI tokens ... if you don't want to invest every disposable dollar you have in this, you are still not getting it, imo ... or you have taken a vow of poverty, which is fine ... but why lurk around bitcointalk.org?


 
 

[Dorky]

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.

...............................................

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.

1. No. If Apple issue new shares, they will publicly announce it, and the share price of Apple will adjust accordingly. It will NOT result in unlimited market cap.
2. No. The true representation of the value of the token is based on how large the capital market can be disintermediated that reflects the potential use of the token (at least from the existing market that we have, never mind of any new market that may crop up from such platform; if we don't have any existing market to serve as reference, but just talk about new market potential, then we are just dwelling in imaginary + fantasy talks), NOT the total float.

Edit:
It would be a great bigly help if Reggie/Veritaseum can list down (I am sure will not be exhaustive) the industries (along with its market size) that Veritaseum can tap into, at least to give a clearer (albeit simplified) picture of the potential of the project (no, I don't think that $1.635 quadrillion market figure that is inclusive of standardized products/services is an accurate picture).
This list can also be used as promotional material to the intended (but uninformed) potential customers of the platform to participate.

And I would like to see Veritaseum successfully tap into non-African origin markets, in America, Europe, and Asia as a proof of impact.

[Dorky]

Sense at last. Really am struggling to understand why people buy things they don't understand.

I believe all of us can find the answer why from within ourselves.

This kind of irrationality (buying things we don't understand) is widespread among us all, and not restricted to just a minority few.

Do you own VERI? If so, are you representing some buy-side institution? Or a billionaire? Or managing a big family fund consisting of illiquid assets?

[OPKatan]

We all have our reason for buying, and don't tell us not to look at the gains / profits of investing. Some of you threw in hundreds, some of us invested more so yes we'll be watching this token closely and hope it grows. If anyone wanted out of veritaseum they could easily sell for 5x profit right now, the rest of us are still here and waiting patiently to see how game changing this could be.

[stereotype]

First time ive looked at EtherDelta.

Whats the story with the crossed-market, on the order book?

[Dorky]

Personally, I don't care to chase exchanges. My goal is to boost organic demand by offering products, services and solutions that are available nowhere else, then sate that demand with supply if (and only if) it overwhelms the existing market of VERI holders.

1. Getting listed in the major crypto-exchanges will provide the necessary liquidity to ease adoption of your services as well as increases it.
2. As Veritaseum accepts only VERI for its services, thus its worth (as well as yours) is tied to the value of the VERI tokens.
3. If some form of dividend can be paid to VERI holders from profits made in providing Veritaseum's services, that may unlock the value of VERI token substantially (but this only comes after you have a working product).

[OPKatan]

First time ive looked at EtherDelta.

Whats the story with the crossed-market, on the order book?

The red orders are sales, the green orders are purchases. You can click on them to buy the sale or fill a buy order. That's for the center log, the one on the right side is for completed transactions. At least that is my understanding I haven't been using them for very long:)

[Haddem]

Point is, on etherdelta, unlike other exchanges, the orders do not automatically get filled. So there can be a buy order of 1.000 ETH/VERI, while there are still sell orders below that. Users got to fill it themselves. So sell order of .3333 can be filled right now, if someone chooses to buy that particular sell order.
With exchanges like polo you will automatically get filled as low as possible.

[stereotype]

Point is, on etherdelta, unlike other exchanges, the orders do not automatically get filled. So there can be a buy order of 1.000 ETH/VERI, while there are still sell orders below that. Users got to fill it themselves. So sell order of .3333 can be filled right now, if someone chooses to buy that particular sell order.
With exchanges like polo you will automatically get filled as low as possible.

Yep, ive just worked out what is going on. Takes me back to the first exchange to trade NXT (GDEX). Had the same select-your-order trade system. Caught many people out, and caused mayhem with the charts, if i remember rightly.

[Dorky]

I just tried to arbitrage away the crossed market and found EtherDelta to be very much below substandard.
Now I know why the arbitrage opportunity persists.
From this experience, I say EtherDelta isn't a reliable market (at least at the moment) to be used as reference.

Edit:
EtherDelta = fake market with too many glitches.

[Haddem]

Already taking profits doing exactly this. havent been fast enough for the 1:1 ETH:VERI orders though

[btsfreak]

There is nothing wrong with etherdelta, the lack of automatic filling is actually a change to earn more money if people are not concentrating.

[Haddem]

No nothing wrong with it, but it's worth it to get some arbitrage in it. In keeps the orderbook clean, and takes up volume while taking some profit.

[britelite]

Slightly off topic. but I deposited some ETH to Etherdelta and then set an order to buy some veritaseum. My balance was unchanged. I then add the chorme extension METAMASK to my chorome browser and went back to EhterDelta. It now shows all balances as 0.00 and displays an error message as 'You are connected to the Ethereum testnet. Please connect to the Ethereum mainnet.'?

Also my etherdelt address now has two addresses and all of my ETH was sent to this address?

Please explain.

I might add that Etherdelta is not user friendly and I've been using computers since the 80's!

[Haddem]

Slightly off topic. but I deposited some ETH to Etherdelta and then set an order to buy some veritaseum. My balance was unchanged. I then add the chorme extension METAMASK to my chorome browser and went back to EhterDelta. It now shows all balances as 0.00 and displays an error message as 'You are connected to the Ethereum testnet. Please connect to the Ethereum mainnet.'?

Also my etherdelt address now has two addresses and all of my ETH was sent to this address?

Please explain.

I might add that Etherdelta is not user friendly and I've been using computers since the 80's!

Your metamask is running on the testnet. It should be selected to the mainnet. Can be done through the extension itself.
If you click on the METMASK icon its on the topside of the window

[britelite]

Thanks Haddem, much appreciated.

That fixed the problem. The confusing this was that in testnet it still showed my original deposit but nothing else and all balances were 0.00

Every day is a schoolday! Thanks for your help.

[Haddem]

Thanks Haddem, much appreciated.

That fixed the problem. The confusing this was that in testnet it still showed my original deposit but nothing else and all balances were 0.00

Every day is a schoolday! Thanks for your help.

It's a bit of a struggle, but if you're through, the placing of orders etc. works exactly fine. You're welcome