VERITASEUM DISCUSSION THREAD

[Masiah]

Can someone please give me a quick explanation of what Veritaseum does?

It's an ICO-DAO smart contract that evaluates other ICO's and/or provides other financial analyis on crypto projects and other asset classes? Do I have this correct?  Where do the Veritaseum tokens derive their vaule?

Also, what was the final $USD price per token and how many VERI tokens were sold?

$5.50 USD per token. 2 million VERI Sold?

Thanks

During the ICO veritas were priced at 1/30th of ethereum, so for one ether you would receive 30 VERI. During the ICO ethereum pricing was quite volatile so there is no accurate single USD price per VERI as of yet. Veritas allow for the owner to purchase research and access smart contracts that mimic exposure offered by banks and other financial institutions at a lower cost. Here is a link to the Veritaseum tear sheet which goes into more depth about our project. https://drive.google.com/file/d/0By5WJsM3KjltOGJHYS1HT3Uyczg/view

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[Dorky]

1. What plan does Veritaseum have in dealing with competition once they start cropping up?
2. Are patents related to Veritaseum's project still pending or already approved? If still pending, how long have they been pending already?
3. How large was Reggie's customer base before Veritaseum existed (i.e. customers that were regular subscribers to Reggie's research and analysis)?

[housebtc]

I contacted Bittrex as a user to put in my vote to add Veritaseum to the exchange.

I did as well! Bittrex would be a great exchange for VERI    I am in open agreement on that #slack channel, Team Veritaseum!

I don't think there is rush to get this listed on exchanges because expect there is a buyer willing to pay 10X for the tokens, the return is going to be huge with time and you will be glad to buy VERI tokens

[killerjoegreece]

The Greek translation has been complete since https://bitcointalk.org/index.php?topic=1894390.0 April 30, 2017, 11:44:59 AM

Same goes for the tear sheet https://www.dropbox.com/s/kuo3urry12terog/Veritas%20Tear%20Sheet.pdf?dl=0

When will the bounties be paid guys?

[Dorky]

The Veritaseum project needs to be fast moving, because competition will not wait.

[Masiah]

1. What plan does Veritaseum have in dealing with competition once they start cropping up?
2. Are patents related to Veritaseum's project still pending or already approved? If still pending, how long have they been pending already?
3. How large was Reggie's customer base before Veritaseum existed (i.e. customers that were regular subscribers to Reggie's research and analysis)?

1) We plan on maximizing 1st mover advantage by moving even faster. The 1st to achieve pole position re: platform economics wins. We also plan to press the pressure points of more established comp by manipulating their structural biz model flaws, ie. Compensation structure

2) Still pending since early 2014, in nearly all major financial domiciles.

3) That's non-public information.

[Masiah]

The Greek translation has been complete since https://bitcointalk.org/index.php?topic=1894390.0 April 30, 2017, 11:44:59 AM

Same goes for the tear sheet https://www.dropbox.com/s/kuo3urry12terog/Veritas%20Tear%20Sheet.pdf?dl=0

When will the bounties be paid guys?

Bounties will be paid within 4 weeks. We plan to include special "Thanks" to those who we believe went above and beyond for the bounty program. Mailing addresses will be needed.

[Masiah]

I realize that some of you may not want to post your emails in public, so you can also pm me or email me at masiah@veritaseum.com if you wish to be added to the slack channel.

[heymann]

There is a thought out there from a pro with a great track record in cryptos that shall remain unattributed, but calls for a price of VERI, in the medium term i.e. 4 months, as expressed in ETH,  priced a little under or just tracking under the USD price of ETH. 

Uhhh, what does ETH trade for? $175 USD?  Where will it be trading in 4 months? lower? hardly.

If a quarter of it is true, HOLY SHIT!  Many of us may have just saved our families from a possible hyperinflation and will be in a position to do some good in this world.

[heymann]

On the myetherwallet.com site where we received the VERI from, there is an option to print a paper wallet.  Haven't yet done so.

The pro tip says even if you don't have a printer, save the paper wallet as a .pdf. 

Anyone know if it is this a good idea to save as a .pdf?

Not a cell phone owner, so difficult to scan to receive the contents of a printed paper wallet.

Thanks! heymann

[dave3]

I'm glad I was able to get my VERI tokens during the ICO, and excited for what Reggie and his team have in store.

Best of luck to everybody.

[Deanero]

In my opinion, there is good reason for Veritaseum to having a already $350 million marketcap considering it is a working platform and been been for a while now.

With the sheer scope of markets Veitaseum can disrupt, I really do think this could be the killer app on Ethereum. In fact it could match Ethereum's Marketcap just because of the real world use cases it offers.

I wouldn't be surprised to see $ 100 billion marketcap in 1-2 years from now.

You heard it here first 

Go get em Reggie.

[Deanero]

I realize that some of you may not want to post your emails in public, so you can also pm me or email me at masiah@veritaseum.com if you wish to be added to the slack channel.

Hi

have just sent you PM with my email address.

Many thanks.

[Reggie Middleton]

My question is - will the floating supply of VERI tokens only ever be about 1 million or about 1% of total supply?

This is about the amount that was issued in the ICO to my knowledge - about 35K ether at 30-1 out of 100 million supply.

My understanding is that the rest of the supply will be sold to institutions directly.  Those tokens will then be used by said institutions to purchase research or run smart contracts and not released onto exchanges.

The reason an institution may use an exchange would be to either
1) Sell some tokens because they no longer find them to be useful (bad sign)
2) Buy tokens if they are trading below price of buying directly (which would take additional supply off the market)

Is this logic correct?  Any thoughts?

We sold many more than you quoted, closer to 60k eth or more. We need a large supply of tokens. Remember, they are appcoins and utility software, and a dearth of token supply would lead to an inoperable machine. We have been talking to chains of medical practices, caribbean governments, private equity and hedge funds in a move to get them to trade value via Veritas. Each institution that adopts Veritas raises the value of the ecosystem X times, thereby injecting value into each Veritas. We will not attempt to artificially limit the supply to give an appearance of increased demand. That's scammy. Much more money is to be made by actually increasing value through demand sourced from true problem being solved

Until liquidity improves, most institutions would rather source large blocks OTC  than go through an exchange.

[azmojo]

We sold many more than you quoted, closer to 60k eth or more. We need a large supply of tokens. Remember, they are appcoins and utility software, and a dearth of token supply would lead to an inoperable machine. We have been talking to chains of medical practices, caribbean governments, private equity and hedge funds in a move to get them to trade value via Veritas. Each institution that adopts Veritas raises the value of the ecosystem X times, thereby injecting value into each Veritas. We will not attempt to artificially limit the supply to give an appearance of increased demand. That's scammy. Much more money is to be made by actually increasing value through demand sourced from true problem being solved

Until liquidity improves, most institutions would rather source large blocks OTC  than go through an exchange.

I'm having a hard time comprehending why or how, for example, a chain of medical practices would use VERI. Can someone (Reggie or anyone else) provide the elevator pitch for a medical practice chain to use VERI? Realizing that the person receiving the pitch likely knows nothing about crypto...

[jbl888]

We sold many more than you quoted, closer to 60k eth or more. We need a large supply of tokens. Remember, they are appcoins and utility software, and a dearth of token supply would lead to an inoperable machine. We have been talking to chains of medical practices, caribbean governments, private equity and hedge funds in a move to get them to trade value via Veritas. Each institution that adopts Veritas raises the value of the ecosystem X times, thereby injecting value into each Veritas. We will not attempt to artificially limit the supply to give an appearance of increased demand. That's scammy. Much more money is to be made by actually increasing value through demand sourced from true problem being solved

Until liquidity improves, most institutions would rather source large blocks OTC  than go through an exchange.

I'm having a hard time comprehending why or how, for example, a chain of medical practices would use VERI. Can someone (Reggie or anyone else) provide the elevator pitch for a medical practice chain to use VERI? Realizing that the person receiving the pitch likely knows nothing about crypto...

Ok ... 16 pages of presentations and information and some obviously haven't watched any ... one more time with the presentation below... after watching every YouTube video and reading every chart (especially one that has the $1.635 Quadrillion $$ amount on it) ... that would seem to be the time to ask Reggie questions ... he's put in way too much time and is beginning the equivalent of the re-launch of the internet so please let's do some due diligence before asking Reggie to answer the same questions over and over

 

https://docs.google.com/presentation/d/1FMyNvogofqojqG6nkIjgvvjAnsWs1qOtKUFExvtp_m0/pub?start=false&loop=false&delayms=3000&slide=id.p

[azmojo]

We sold many more than you quoted, closer to 60k eth or more. We need a large supply of tokens. Remember, they are appcoins and utility software, and a dearth of token supply would lead to an inoperable machine. We have been talking to chains of medical practices, caribbean governments, private equity and hedge funds in a move to get them to trade value via Veritas. Each institution that adopts Veritas raises the value of the ecosystem X times, thereby injecting value into each Veritas. We will not attempt to artificially limit the supply to give an appearance of increased demand. That's scammy. Much more money is to be made by actually increasing value through demand sourced from true problem being solved

Until liquidity improves, most institutions would rather source large blocks OTC  than go through an exchange.

I'm having a hard time comprehending why or how, for example, a chain of medical practices would use VERI. Can someone (Reggie or anyone else) provide the elevator pitch for a medical practice chain to use VERI? Realizing that the person receiving the pitch likely knows nothing about crypto...

Ok ... 16 pages of presentations and information and some obviously haven't watched any ... one more time with the presentation below... after watching every YouTube video and reading every chart (especially one that has the $1.635 Quadrillion $$ amount on it) ... that would seem to be the time to ask Reggie questions ... he's put in way too much time and is beginning the equivalent of the re-launch of the internet so please let's do some due diligence before asking Reggie to answer the same questions over and over

 

https://docs.google.com/presentation/d/1FMyNvogofqojqG6nkIjgvvjAnsWs1qOtKUFExvtp_m0/pub?start=false&loop=false&delayms=3000&slide=id.p

I've done quite a bit of research but I haven't watched every video, and I'm not convinced I would find my answer. I get that you can use it for contracts but I don't get how that translates to the real world, say in the example of a doctors office. If I want a physical exam, I would buy a VERI contract for a physical exam? That is where I am having a hard time making the bridge of how a medical office would use VERI.

[Reggie Middleton]

I'm having a hard time comprehending why or how, for example, a chain of medical practices would use VERI. Can someone (Reggie or anyone else) provide the elevator pitch for a medical practice chain to use VERI? Realizing that the person receiving the pitch likely knows nothing about crypto...

Medical practice liquidity pool
 
Doctors and doctor's practice buy VERI
Doctor's practice redeems VERI to Veritaseum for conducting to create smart contract to tokenize value from practice
 
This system gives doctors materially more liquidity in both their own practices and the market to buy, sell or atomically invest in/divest from other doctor's’ practices
Those doctor's looking towards retirement can have partial and periodic liquidation, and noobs coming in can efficiently buy their way into existing practices or have their new practices funded by experienced veterans.
This effectively is a legal market to trade medical practices and procedure businesses legally amongst other qualified particpants.

I spent the weekend with a bunch of doctors alternatively arguing about Trump and how best to set this up among a bunch of guys with successful practices. We're aggressively looking for practices and investors (ie. wealthy doctors, and private equity) who want to give this a spin. I will make it very easy for them and even subsidize much of it the first time around. As a community, I ask you all to reach out to those who you know and act as Veritaseum's grass roots marketing arm.

[heymann]

VERI for doctors, lawyers, indian chiefs.  Any real and successful business owner could use it.  The effect here is to tokenize business equity for trade, purchase or sale. 

The VERI medium where they conduct business is attractive also as a speculation on their VERI investments maintaining or increasing their value vs. holding fiat.  Great for professionals wanting to sell their businesses with retirement in mind. 

Demographics today would find this timely.

Veritaseum could be a really good thing if one owned a visibly popular business with a lot of customers and wanted to retire.  A lot of potential micro investors.  Business owners could outline their succession plans and tokenize the business.  I know a successful furniture store owner who could use this, many people like him own these businesses but can't find the 1 individual to purchase the business outright.  This way they don't need to.

[paulmaritz]

The possibilities are almost endless.