VERITASEUM DISCUSSION THREAD

[paulmaritz]

Veritaseum at #16.... choo chooo we're chasing you down Ethereum!!!!!!! 1:1 price parity.... let's see it!!!!!!!!

haha That's the spirit! It reminds me of this song: https://youtu.be/0d7GnOP2_PI 

[endchat]

OK guys, there are two 1000 VERI sell walls to chew through. This is your opportunity before we hit parity with ETH!

3 walls...

I am doing my part

[jbl888]

15   Zcash Zcash                   $434,050,853   $279.59   1,552,444 ZEC          $31,890,700   -2.08%   
16   Veritaseum Veritaseum   $425,817,001   $216.45   1,967,295 VERI *   $1,824,940   24.62%   


Anybody want to trade their VERI for ZCASH?


Didn't think so ...


 

Haha .. Nope Ill be keeping all of mine forsure  but, I have been picking up Cloak coin on the dips. If you follow Clif you know why.

I've got a little Cloak ... a little LTC ... a little XINFIN ... a little DIM ... a little PPT ... a little FUN ... a little AdEx ... a little CVC ... a little silver ... and a BUNCH of VERI!!!

Yep, Clif (@Clif_High on Twitter) has made me millions $$   

[BTCBusinessConsult]

15   Zcash Zcash                   $434,050,853   $279.59   1,552,444 ZEC          $31,890,700   -2.08%   
16   Veritaseum Veritaseum   $425,817,001   $216.45   1,967,295 VERI *   $1,824,940   24.62%   


Anybody want to trade their VERI for ZCASH?


Didn't think so ...


 

Haha .. Nope Ill be keeping all of mine forsure  but, I have been picking up Cloak coin on the dips. If you follow Clif you know why.

I've got a little Cloak ... a little LTC ... a little XINFIN ... a little DIM ... a little PPT ... a little FUN ... a little AdEx ... a little CVC ... a little silver ... and a BUNCH of VERI!!!

Yep, Clif (@Clif_High on Twitter) has made me millions $$   

made you millions or you are HOPING it makes you millions. I have alot of the same coins as you and I have not made millions... yet

[Ant1Tr0ll]

I like that Bullet Train song Paul Maritz! Good pick!!!!

Any guesses for when Veritaseum passes ETH price???

[Josef27]

I like that Bullet Train song Paul Maritz! Good pick!!!!

Any guesses for when Veritaseum passes ETH price???

There's a portfolio tracking app out for IOS called coinmarketcap that has 700+ cryptos  Veritaseum and Adex etc in it.
You can also use their site.. https://coins.live  it syncs with the app and works perfect. I think it pulls the data from coinmarketcap.com

[Reggie Middleton]

Whatever tickles your fancy. Now go cry a river!  

With the recent rise, I'm into this asset well into 5 figures now. I have no conflict of interest in making my case, in fact I'd be more conflicted by not making it. But I invested based on fundamentals, not some stock market 'trick' that came and infected the decentralised world of freely traded digital assets.

Here's the deal why the blockchain-supply is under-reported and why Veritasium's short term viability at least depends on it:

1. Traders make valuations based on marketcap, not coin-exchange rate

2. As such VERI's low marketcap looks extremely good value for new buyers because it's still below such benign offerings as Bytecoin etc al, even with the recent doubling of the last 24 hours

3. However, the small "reported supply" is not the real supply since new OTC trades are supplied from Reggie's 'wallet', not from the coinmarketcap.com reported quantity

4. If the full (blockchain issued) supply were to be correctly reported, what would happen ? You'd see a ranking like the one I posted earlier and an associated market correction since it would be unlikely to give a single token offering a higher valuation than the entire Ethereum blockchain coin supply

What Reggie is doing is making tactical use of marketcap reporting in order to price the non-ICO token supply based on the tiny ICO portion. Ok, it's one marketing strategy (and is working so far) but it should be transparent and not hidden behind some "we don't understand institutional markets" nonsense.

Traders are not my core consituency, and frankly we don't care about what they want. Utility seekers and long term network effect value consumers are who we cater to.
The supply in "Reggie's wallet" is actually likely to fall short of demand in the medium to long term if we succed in getting counterparties and utility seekers to recognize the true value. You are thinking in terms of crypto traders, and not in terms of those looking to build multi-generation spaning value creation through utility consumption. The more that comes out of "Reggie's wallet" the more value the entire platform becomes. I know this is the antithesis to what you have been taught and told about equity investments, but this is not an equity investment, it is programmable, distributed "smart" software.

With the acquisition of the top three global exchanges, one can easily justify a valuation in excess of a multiple of the Ethereum platform. Ethereum is simply a platform upon which more advanced applications are written. Google shares are worth more than TCP-IP packets sent back and forth through the internet, right?

What Reggie is doing is pricing the tokens according to the value that end users believe they are worth.

[azmojo]

Exactly. On this thread and others the poster here attempt to treat crypto like stock shares and discuss paradigms like market cap. While those concepts are loosely applicable. I think within a year or two it will become clear that cryptos cannot be compared and treated like equities... and some like VERI can't even be compared to  currencies at all. It's a whole new world.

[Dorky]

Veritaseum is a long-term (multi-year) buy-n-hold.

I am sure a lot of people were dumping most of their VERI almost after it got listed at EtherDelta to rollover the proceed to other ICOs like Status. I bet they now totally regret it.

[heymann]

Veritaseum is a long-term (multi-year) buy-n-hold.

I am sure a lot of people were dumping most of their VERI almost after it got listed at EtherDelta to rollover the proceed to other ICOs like Status. I bet they now totally regret it.

Yes. Exactly.  Bank on seller's regret happening hard.  It already is.

Give VERI 5 years as you say.  Why trade out of a beauty endeavour like VERI to seek some greater fool on some Shitcoin? 

Sell VERI to fight over 3rd rate coins?  Really? 

Bad move selling VERI anytime soon.  Wise up sellers.

[Mimar]

VERITASEUM should hit bittrex in 1-2weeks

[azmojo]

Veritaseum is a long-term (multi-year) buy-n-hold.

I am sure a lot of people were dumping most of their VERI almost after it got listed at EtherDelta to rollover the proceed to other ICOs like Status. I bet they now totally regret it.

Yes. Exactly.  Bank on seller's regret happening hard.  It already is.

Give VERI 5 years as you say.  Why trade out of a beauty endeavour like VERI to seek some greater fool on some Shitcoin? 

Sell VERI to fight over 3rd rate coins?  Really? 

Bad move selling VERI anytime soon.  Wise up sellers.

You can't fault anyone for taking profits. I have learned the hard way on things I bought for the long term and I rode them up and then rode them back down. Everyone's personal situation is different. But I agree, why sell VERI at this point when it hasn't even hit a major exchange? The Jamaica news more than doubled the price. What will the next announcement be? It will only send it higher. The future is so bright here.

[CryptoIsKey]

I originally invested in Veri strictly for a short term investment opportunity after being informed by a friend "to get in now". I have since been researching and watching how this plays out, and i am now actually invested for the long term. I believe Veri will be more of an investment asset that actually has some uses that i can utilize in the future,  rather than the majority of projects which really will never see the light of day in a years time.

[heymann]

Veritaseum is a long-term (multi-year) buy-n-hold.

I am sure a lot of people were dumping most of their VERI almost after it got listed at EtherDelta to rollover the proceed to other ICOs like Status. I bet they now totally regret it.

Yes. Exactly.  Bank on seller's regret happening hard.  It already is.

Give VERI 5 years as you say.  Why trade out of a beauty endeavour like VERI to seek some greater fool on some Shitcoin?  

Sell VERI to fight over 3rd rate coins?  Really?  

Bad move selling VERI anytime soon.  Wise up sellers.

You can't fault anyone for taking profits. I have learned the hard way on things I bought for the long term and I rode them up and then rode them back down. Everyone's personal situation is different. But I agree, why sell VERI at this point when it hasn't even hit a major exchange? The Jamaica news more than doubled the price. What will the next announcement be? It will only send it higher. The future is so bright here.

I'm with you man, everybody has different needs.  Just trying to express the opinion that people might be well served if they think of spending other sources of $ before hanging the For Sale sign on their VERI.  Owned a ton of mining stocks and didn't have any hesitation to flip and dump those.  After all they sell stocks in bulk under market (options) and print more at will.  Can't win much there, really is a greater fool contest.  Gotta be on the inside to win.

Figured that winning in stocks, the reward you make in $ buys less every time you head to the grocery store. So why play?  That's why I quit that game and went "all in" cryptos.  Cryptos don't tend to depreciate like fiat.  And they appreciate like crazy.

Cheers

[kimmy724]

I was a little surprise how market reacted to this project. Well it might as be on the radar for me because it is quite intriguing to be honest.

[naaktslak5]

VERITASEUM should hit bittrex in 1-2weeks

source?

[Dorky]

Why go through all that trouble when you can secure it with something that is more secure and convenient and costs only €89?

The reason is to have 100% control (you aren't relying on any 3rd-party for salvation).
The method I suggested is not less secure and is not troublesome for the sake of 100% control, max security, and cost far less.
But then, to each his own (for those who seek the easiest way out for max convenience regardless of less control may get the hardware wallet).
Even then using hardware wallet does not spare the user the trouble of securing the mnemonic phrases.
However, I dislike the video implying .rar file is insecure, that everyone needs to have Trezor, and that to me is false information.
Mike B could have educated the viewers on how to make a very secure cold storage in .rar with strong encryption instead, but he didn't.
In fact, I dislike (and never recommend) using hardware wallet also because if something screws up (such as the mnemonic phrases got lost or stolen), the whole savings is at stake.
With my method, savings can be segregated into multiple addresses and compartmentalized in varying level of security as the user prefers, and any address at stake will not jeopardize the others.
Nevertheless, to each his own.
I do not wish to impair nor harm anyone with my suggestion nor wish to be penalized for making a good suggestion.

[Fern]

This is from Reggie (in slack) giving an explanation to someone questioning the current utility to someone (an ico investor/ forum lurker - like many of us).

This is not the full quote

"If Veritaseum has not had utility value to you, it's because you are probably not the target audience. The JSE (Jamaica Stock Exchange) gets value out of it, here and now. Other, much larger exchanges get utility value out of it - now.
Utility software actually gets MORE valuable the more it is used (network effect), You are approaching this situation as if the tokens are equities and there is some sort of dilutive effect to earnings. That is not the case, and that is an absolutely incorrect method of viewing and valuing Veritas. I'm not declaring Veritas is software just to get out of SEC registration, it really is software."

[paulmaritz]

I like that Bullet Train song Paul Maritz! Good pick!!!!

Any guesses for when Veritaseum passes ETH price???

Thanks. I am glad you like it.

My gut feeling tells me VERI might pass the ETH price before or by Friday the 14th, but who knows for sure. 

[paulmaritz]

Why go through all that trouble when you can secure it with something that is more secure and convenient and costs only €89?

The reason is to have 100% control (you aren't relying on any 3rd-party for salvation).
The method I suggested is not less secure and is not troublesome for the sake of 100% control, max security, and cost far less.
But then, to each his own (for those who seek the easiest way out for max convenience regardless of less control may get the hardware wallet).
Even then using hardware wallet does not spare the user the trouble of securing the mnemonic phrases.
However, I dislike the video implying .rar file is insecure, that everyone needs to have Trezor, and that to me is false information.
Mike B could have educated the viewers on how to make a very secure cold storage in .rar with strong encryption instead, but he didn't.
In fact, I dislike (and never recommend) using hardware wallet also because if something screws up (such as the mnemonic phrases got lost or stolen), the whole savings is at stake.
With my method, savings can be segregated into multiple addresses and compartmentalized in varying level of security as the user prefers, and any address at stake will not jeopardize the others.
Nevertheless, to each his own.
I do not wish to impair nor harm anyone with my suggestion nor wish to be penalized for making a good suggestion.

"The reason is to have 100% control (you aren't relying on any 3rd-party for salvation)" - "users do not have to depend on SatoshiLabs’ servers availability anymore": https://news.bitcoin.com/trezor-moves-closed-source-backend-server-open-source-using-bitcore/

Even if SatoshiLabs shuts down, one will still be able to use Trezor and/or recover one's private keys: https://doc.satoshilabs.com/trezor-faq/threats.html

"Even then using hardware wallet does not spare the user the trouble of securing the mnemonic phrases" - It is not difficult to store a printable Trezor recovery seed separate from the wallet in a secure place. When the wallet gets lost/stolen, the recovery seed can be used to recover the private keys.

"In fact, I dislike (and never recommend) using hardware wallet also because if something screws up (such as the mnemonic phrases got lost or stolen), the whole savings is at stake" - You meant to say when "someone" screws up. Now when someone screws up, it is certainly not Trezor's fault. That being said, Trezor gives one the option to protect against recovery seed theft with a passphrase. Thus, one can completely eliminate risks attached to recovery seed theft. Is your method fully secure against lost and/or theft?

"With my method, savings can be segregated into multiple addresses and compartmentalized in varying level of security as the user prefers, and any address at stake will not jeopardize the others" - Trezor allows one to create multiple accounts and within each of those accounts one can generate an endless number of key pairs.

Don't get me wrong. I am open to multiple methods of security, including yours. However, not all methods are as secure and convenient as a hardware wallet such as Trezor.