VERITASEUM DISCUSSION THREAD

[jbl888]

Here's Bix Weir talking Veritaseum on Hump Day

https://youtu.be/C-XoSWLXaAU

 

[heymann]

Here's Bix Weir talking Veritaseum on Hump Day

https://youtu.be/C-XoSWLXaAU

 

Thanks, I'll check it out.  Veri now on the offer close to 5-1 ratio, 10.282 ETH offered for 53 VERI.  13-1 plus ratio less than 48 hrs ago!

[AltCity]

Here's Bix Weir talking Veritaseum on Hump Day

https://youtu.be/C-XoSWLXaAU?t=1255 Deep link to actual conversation section where he estimates VERI value...

[hangthebanksters]

somebody just screwed up and posted an open buy order for .99 Veri/Ether. I couldnt get to the sell order in time 

[FlorentineNobleman]

Still no bounty....

[jbl888]

Still no bounty....

Reggie mentioned during the ICO that he might continue the bounty beyond the ICO end date (May 26th)

From this tweet about top engaged community members, I'm pretty sure it's continuing as we speak ... 50,000 Veritas up for grabs

https://twitter.com/ReggieMiddleton/status/874903216051425280



*cha-ching

 

[USBitcoinServices.Com]

Hi manager, when will the rewards of the bounty program be paid?

[Dorky]

https://youtu.be/C-XoSWLXaAU?t=1255 Deep link to actual conversation section where he estimates VERI value...

He made an outrageous estimate that I sincerely believe anyone that is financially-literate enough (or have enough common sense) will totally disagree.

And of course, his estimate is based on the 100 mil supply that I consider as conservative that you were quick to disagree but show no disagreement on Bix Weir's.

The market size needs to consider the fee charged for using Veritaseum's services.

If I have an estate worth $3 mil to sell and I want to use Veritas for the transaction, I am not going to pay $3 mil for it because at the end I would end up having zero; I might as well just keep my estate from selling.

The value needs to be based on the fee charged (I forgot how many basis points) on using Veritaseum's platform, which will actually be a tiny fraction of Bix Weir's ultra wild and unrealistic $3 mil estimate.

$3 trillion divided by 100 mil is NOT $3 million. And assuming anyone is basic math competent enough to figure out the answer, it needs to consider the basis points charged as fee.

[Fern]

The way I understand it is that with 18 decimal places, you'll still pay pennies if VERI is at say $100k per coin. You'll pay 10 cents which is 0.000001 VERI to shift $3 million.

One issue i don't fully understand is why the need for VERI token instead of just using Bitcoin. Like Yours Social Network and Kim Dot Com's new Bitcache network use Bitcoin, why can't this platform use bitcoin as the native currency. Anyone?

https://youtu.be/C-XoSWLXaAU?t=1255 Deep link to actual conversation section where he estimates VERI value...

He made an outrageous estimate that I sincerely believe anyone that is financially-literate enough (or have enough common sense) will totally disagree.

And of course, his estimate is based on the 100 mil supply that I consider as conservative that you were quick to disagree but show no disagreement on Bix Weir's.

The market size needs to consider the fee charged for using Veritaseum's services.

If I have an estate worth $3 mil to sell and I want to use Veritas for the transaction, I am not going to pay $3 mil for it because at the end I would end up having zero; I might as well just keep my estate from selling.

The value needs to be based on the fee charged (I forgot how many basis points) on using Veritaseum's platform, which will actually be a tiny fraction of Bix Weir's ultra wild and unrealistic $3 mil estimate.

$3 trillion divided by 100 mil is NOT $3 million. And assuming anyone is basic math competent enough to figure out the answer, it needs to consider the basis points charged as fee.

[Dorky]

The way I understand it is that with 18 decimal places, you'll still pay pennies if VERI is at say $100k per coin. You'll pay 10 cents which is 0.000001 VERI to shift $3 million

I would strongly suggest anyone that wants to give financial advice/tips/suggestions/opinion needs to get themselves sufficiently educated on financial matters first, at least in financial planning as a basic start.

Thereafter you learn about the world economy/commerce, etc.

Once you have financial literacy and have a strong sense of world commerce, you move on to understand the Veritaseum project.

Only then can you (and anyone) have credibility and validity in making a statement about the value of VERI.

Or else everything will be based on imagination, fantasy, and falsehood.

[Dorky]

One issue i don't fully understand is why the need for VERI token instead of just using Bitcoin. Like Yours Social Network and Kim Dot Com's new Bitcache network use Bitcoin, why can't this platform use bitcoin as the native currency. Anyone?

The token is used to subscribe for Veritaseum's services.

The token isn't a replacement or alternative to bitcoin. Anyone saying the token has such potential is making a false statement.

[Fern]

With you wondering why you'd have to pay $3 million worth of VERI for a $3 million real-estate transaction, it seems we both have some learning to do.

The way I understand it is that with 18 decimal places, you'll still pay pennies if VERI is at say $100k per coin. You'll pay 10 cents which is 0.000001 VERI to shift $3 million

I would strongly suggest anyone that wants to give financial advice/tips/suggestions/opinion needs to get themselves sufficiently educated on financial matters first, at least in financial planning as a basic start.

Thereafter you learn about the world economy/commerce, etc.

Once you have financial literacy and have a strong sense of world commerce, you move on to understand the Veritaseum project.

Only then can you (and anyone) have credibility and validity in making a statement about the value of VERI.

Or else everything will be based on imagination, fantasy, and falsehood.

[Dorky]

With you wondering why you'd have to pay $3 million worth of VERI for a $3 million real-estate transaction, it seems we both have some learning to do.

No, I was not wondering. I was making a statement that the $3 million figure is not practical and impossible.

If anyone wants to say it is a possibility, he/she better make sure he/she has a valid basis for it.
And definitely not basis based on wrong math.

Note: If you want to make a point, at least "impress" me by giving the correct answer to 3 trillion / 100 million. Then we will move on from there.

[jbl888]

He said $300 trillion


$300 trillion / $100 million = $3 million
 

[Dorky]

He said $300 trillion


$300 trillion / $100 million = $3 million
 

That $300 trillion was the "entire" capital market (even that figure is wrong).

Please refer to the video again @ 21:55 (you might even want to activate the subtitle).

Even if it's $300 trillion, that's 100% of his "entire" capital market, without considering the fee.

You need to know how the fee works on the value of the token; they are token for Veritaseum's services, not currency to buy coffee unless it is marketed as such. The fee is a big component to determining the value of the token relative to the size of the capital market that can be captured.

Nevertheless, he also said it's not going to happen.

Wait till I show you my estimation that's going to blow thru the roof of everything. 

[Gen6:6]

Anyone heard any rumblings about a major exchange listing VERI yet?

Seems there's so much buzz about VERI that I'm amazed no exchange wants to make some easy money by just listing it before their rivals and stand back as the customers fight through the door to buy some...

[Arwen Thebard]

Anyone heard any rumblings about a major exchange listing VERI yet?

Seems there's so much buzz about VERI that I'm amazed no exchange wants to make some easy money by just listing it before their rivals and stand back as the customers fight through the door to buy some...

I was thinking much the same.

Surely the exchanges read these forums and have other ways of keeping up to date with trends.

But things happen very quickly in this crypto market so maybe tomorrow it will appear across several exchanges at the same time.

[dave3]

Like I said before, it's the exchanges and their users loss if they don't list VERI.  Unless they've been living under a rock, surely they're aware of Veritaseum by now.

I'll bet that it won't be long before one of them lists VERI.  The first one will have the advantage of being the only major exchange to trade it for awhile (until the next ones follow).

[namley]

What is veritas exactly? I dont understand it and dont know why price is such high

[Arwen Thebard]

VERI now listed on coinmarketcap.com at $59.10