VERITASEUM DISCUSSION THREAD

[AltCity]

I think they're talking about the old UltraCoins.  The previous iteration of Veritaseum built on top of bitcoin used UltraCoins.

The previous version of the platform was a peer to peer asset trading platform based on bitcoin with a feature of no counterparty risk. It was incredibly smooth in operation and quite advanced. This was released, and at the same time consulting and services were purchasable with the first coins.

Shortly after the beta was released for trading, due to regulatory greyness, the trading platform was pulled from public download. Reggie and team continued to work on the big vision, and provided consulting services for those tokens. (in my estimate) The early token purchasers provided funds for growing this business to where we are now.

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[Josef27]

I think they're talking about the old UltraCoins.  The previous iteration of Veritaseum built on top of bitcoin used UltraCoins.

The previous version of the platform was a peer to peer asset trading platform based on bitcoin with a feature of no counterparty risk. It was incredibly smooth in operation and quite advanced. This was released, and at the same time consulting and services were purchasable with the first coins.

Shortly after the beta was released for trading, due to regulatory greyness, the trading platform was pulled from public download. Reggie and team continued to work on the big vision, and provided consulting services for those tokens. (in my estimate) The early token purchasers provided funds for growing this business to where we are now.

I knew they had a version in development before I just didn't know how far they got with it.  I guess that should put some of the doubters to rest. They already had/have a working BTC platform thats being ported over to Ethereum.  

[BaNgTHai]

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

[AltCity]

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

This is a video of Reggie presenting the platform. The peer to peer exchange was functional, and the most remarkable feature was being able to arbitrarily make long and short trades vs other assets as opposed to short the equity vs the US dollar. So for instance you could enter a trade to go Long GOOG and short MSFT. You staked your margin for the trade and then depending on which way the market went, it would swing your way or another. The trades were time limited so if you picked to assets with low volatility the trade might close with no to minimal loss for instance. https://www.youtube.com/watch?v=9qEXsyC41Dw

The feature that was provided by veritaseum was the Oracle that allowed the trades to complete based on closing prices. Since it was a beta, the trades were made without requiring the Ultracoin's for each trade.

My understanding is that they are reworking this around Ethereum smart contracts which requires more work, although this should bring a degree of autonomy to the platform. Including a fee structure on the trades is needed to support ongoing development and demonstrate the need for the tokens, albeit even a small fee would increase demand and consumption of the tokens.

[BaNgTHai]

I saw this video but assumed that it was old without looking at the date because it said UltraCoin. Do you know when that client was taken down and how long it was available for download before they took it down?

I cant seem to figure out where the VER will come into the picture beside to purchase his reports on coin?

[jbl888]

I saw this video but assumed that it was old without looking at the date because it said UltraCoin. Do you know when that client was taken down and how long it was available for download before they took it down?

I cant seem to figure out where the VER will come into the picture beside to purchase his reports on coin?

All your questions are answered in this this thread, the presentation below, and Reggie Middleton's You Tube channel

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


 

Unless, of course, your questions are rhetorical ...

[Gen6:6]

The more I read & learn about Veritaseum, the more I think it is a brilliant concept. If some big players in the markets get on board this could be huge.

[jman887854]

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

[jman887854]

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

nevermind they show up if I click on "Tokens (Ethplorer.io)" . Before now they were just always displayed at the left. Oh well

[dave3]

You might have to re-add the VERI custom token.

[killerjoegreece]

You might have to re-add the VERI custom token.

what are the contract details we need to add to MEW for VERI to show up?

[jman887854]

You might have to re-add the VERI custom token.

That worked

[Dorky]

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.

[dave3]

what are the contract details we need to add to MEW for VERI to show up?

You can still find the instructions for adding the custom token here:

https://blog.veritaseum.com/current-analysis/1-blog/225-veritas-2017-crowdsale-step-by-step-instructions

(best to get it there than to rely on this post)

Click Add Custom Token and enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Address box, VERI into the Token Symbol box, and 18 into the Decimals box and Save

[paulmaritz]

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 cannot answer on behalf of Reggie. Hopefully he will respond.

Just to be clear: It is important to question and do one's own due diligence. However, for some to call it a scam purely based on that video is a stretch of the imagination. I was also in reference to bought and paid for opposition against crypto tokens in general. Either that or those are the dumbest trolls around.

In addition, I was not referring to Tone Vays or anyone who share his views as being bought and paid for or the dumbest trolls around. However, I certainly don't agree that all of his concerns are valid. It is no secret that he is extremely bias on the back of his propensity to lean towards bitcoin at any cost. E.g. Veri tokens do not represent shares, stock or ownership in Veritaseum, Inc., so to drag Netflix into the equation is a bit of a stretch. In addition, just because Reggie chooses to protect Veritaseum, Inc. against certain risks via the Terms & Conditions and Purchase Agreement, do not automatically mean that he intends to use it as a means to defraud us while he enjoys protection. In fact, Reggie has made it abundantly clear that this is a high risk venture. If one has little appetite for high risk and the potential high losses/rewards that come with it, then it is best not to buy or own VERI tokens - tokens that can be exchanged for products and services of Veritaseum, Inc.

Reggie will not answer all of your questions, because it might give away too much to the competition.  

"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" - I beg to disagree.

I could add more, but the above should suffice.

[heymann]

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 watched the interview also.  My views:

1.  The quality and level of discussion did not lead me to believe that Tone held a negative view of Reggie or Veritaseum;
2.  A non-standardized service platform would also infer that the tool can be shaped into a form that is usable by the client for various scenarios.  Reggie's view seems to be very broad, i.e. the future of money.  The view presented here thinks flexibility in the tool is a detriment, and will severely limit popularity?  Polar opposite views on Veritas' future. It is important to note that the Veritas software already exists and was used previously.  Reviews seemed to be very positive at the time.  Past performance is a good predictor of future performance.
3.  Have you noticed the trend in regulation seems to be gov'ts are stepping aside and letting virtual currencies happen, even adopting them?  How effective would onerous regulation be?  If there are locales that are trying to attract this sort of venture it might make it tempting to locate offshore should regulations become too onerous in one jurisdiction?  If Bill Gates says nothing can stop Bitcoin (blockchain), is he inferring regulators will have stepped aside as well?
4.  Businesses shrink and grow all the time.  Some think nothing is more powerful than an idea who's time has come.  Some people think that of Veritas.  Time will tell.
5.  I did not see any attempt to duck questions, I saw the same video and witnessed the technical issue where Reggie dropped off.  I am sure at some point the interview will be finished, if only to quell this concern.  But I didn't see it as an attempt to run away from tough questions.
6.  I can't even find a decent ETH/CAD chart.  I have seen in this thread, offers by mgt to swap the older tokens for the new ones.  No failure there. This is a new industry, and with growth I am certain we'll see better charts for all the cryptos.  Pricing destiny can only be controlled by focusing on the fundamentals of the project.  

timely article referencing above: http://www.thedailybell.com/news-analysis/warning-government-is-in-danger-of-going-extinct/

[Reggie Middleton]

I was looking at the Dash interview of Erik Voorhees and his description of Shapeshift on YouTube- https://youtu.be/8geYzLwKes8
This is a comment that I left…..

I would love to have you interview me. We've implemented the exact system that Prism seems to be espousing... but 4 years ago, reference https://blog.veritaseum.com/current-analysis/1-blog/93-translating-goldman-sachs-2015-recommendations-as-ultracoin-trade-setups-pt-3. We are also doing a full forensic analysis of Dash - the network, investment opportunity for Masternode holders and the token. We've even interviewed the core dev team CEO... twice. See what we've done with This is here http://veritas.veritaseum.com/index.php/16-the-gnosis-gno-forensic-analysis-and-valuation-report-our-inaugural-digital-asset-research-release
Augur will be released by Monday, end of day and Ripple the following week, followed by Dash. The only way to access these reports is through Veritas.

[BitcoinForumator]

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

[Reggie Middleton]

Reggie, I see that Vinny Lingham is offering his Civic (CVC) tokens initially via ERC20 Ethereum tokens but will switch to Rootstock/Bitcoin at a later date. Rootstock because they believe bitcoin is the safer option.

Is this your plan also or are you fully committed to Ethereum?

We are, and plan to remain, blockchain agnostic. Since we do not make or sell blockchains, we do not want to pin our success to that fight. We choose the best prospects, and as resources permit we will push to go cross chain.

[Reggie Middleton]

From Reggie:
Midweek next week, we will release a forensic valuation report for Augur, the prediction market platform, for 100 VERI to those who are interested. We released their most obvious (and very well-funded) competitor, Gnosis' valuation for free (see above).
http://veritas.veritaseum.com/index.php/18-congrats-and-thank-you-to-all-those-who-participated-in-our-veritas-sale-2

The Augur report has been completed for weeks. It's waiting my final QA, but we've been absolutely swamped due to allowing users to purchase Veritas manually. Over 4k in total transactions, and about 3/7th manual. A 3rd of those didn't read the directions and the cue has grown significantly. Anybody who sent us ETH timely will get their tokens. If you insist on sending ETH to the manual address after we have clearly (and we have, clearly) indicated that the initial sale was over, then you should consider the ETH you sent in a donation. It takes manpower to return the ETH, and we cannot do this indefinitely. as of the end of the week, we will no longer return ETH arbitrarily sent to that deprecated manual address.

I will release the Auguer report early next week. The Ripple report is asking some very hard hitting questions, and we are awaiting the CEO's response. Dash will be following Ripple, and the core dev team CEO has been very cooperative.