VERITASEUM DISCUSSION THREAD

[paulmaritz]

Some claim that Veritaseum would have been sued if they initiated a hard fork. I beg to disagree...

In my opinion there was unauthorized access to VERI tokens that were used to manipulate the market. I am glad they didn't initiate a hard fork, because it would have complicated matters given the relatively small amount that was stolen. However, even if they did hard fork, I am sure that all legitimate owners of VERI tokens would have been duly compensated in terms of receiving the exact number of tokens than they previously owned. Good luck in taking them to court when that happens and crying about an investment loss, because you will have no foot to stand on in court. They've made it clearly time and time again that the value proposition offered by Veritaseum is not an investment, financial instrument or anything along those lines. It is merely tokens and/or license keys that can be used to access the software that they are developing.

Imagine someone steals license keys from Microsoft and dump it in the public sphere at ridiculous prices. Microsoft revoke those keys and issue new ones. Good luck at suing Microsoft because the value of your "investment" went down. The same principal applies to Veritas (VERI) and Veritaseum.

[tex83rb]

Some claim that Veritaseum would have been sued if they initiated a hard fork. I beg to disagree...

In my opinion there was unauthorized access to VERI tokens that were used to manipulate the market. I am glad they didn't initiate a hard fork, because it would have complicated matters given the relatively small amount that was stolen. However, even if they did hard fork, I am sure that all legitimate owners of VERI tokens would have been duly compensated in terms of receiving the exact number of tokens than they previously owned. Good luck in taking them to court when that happens and crying about an investment loss, because you will have no foot to stand on in court. They've made it clearly time and time again that the value proposition offered by Veritaseum is not an investment, financial instrument or anything along those lines. It is merely tokens and/or license keys that can be used to access the software that they are developing.

Imagine someone steals license keys from Microsoft and dump it in the public sphere at ridiculous prices. Microsoft revoke those keys and issue new ones. Good luck at suing Microsoft because the value of your "investment" went down. The same principal applies to Veritas (VERI) and Veritaseum.

yeah, this make sense

if the damage is little, microsoft could not make any move.

but if damage is huge , surely ms will revoke them and issue all new licenses.

[greyswan]

(VERI) is merely tokens and/or license keys that can be used to access the software that they are developing.

VERI key to this issue . Not a cryptocurrency but a platform. PPT suffers from same market disconnect.

[Reggie Middleton]

Reggie the nog stock tout was involved with this? Yeah I think I know where those tokens went. Right into the coon's pockets.
...

"The talent of that team is what you are purchasing when you purchase VERI."

Nameless payets you found and hired over the internet you black shyster.

Overpriced LOTTORY tickets. If you don't see a SCAM or at least a bubble... then GREED has blinded you. Be careful people.

So, is this the true, and unsaid source of the movement against Veritaseum? At least your coming out and sayng it.

[HegelianCattalactics]

Reggie Middleton:

I am very sorry for your loss.
Personally I am grateful for all the great work you do and the nobility with which you have conducted yourself.

I am sure the pain of the security breach exceeds any market damage due to increased liquidity.
Thank you for your hard work.
Remain in peace; cast all your cares on Him.

I pray you receive 10 times what was stolen.

George Sabin (Catallaxy) - We have talked a few times.

Thanks again

[greyswan]

>Overpriced LOTTORY tickets.

Thank You for your analysis, 'Zeroboy'. Free speech is the best innoculation for the body politic. 
Blinded? Yes- by idealism

[Crewn]

The market cap of veritaseum is over than 350 million dollars but we're still forced to trade it only etherdelta Exchange thing. I can't understand why the team can't make the coin get on a real Exchange like bittrex?

Hundreds of people have petitioned them and we still have no answers. They are ignoring this token and community for some reason. I personally sent it to Bittrex before they changed their process to where you have to be the token creator to submit it and all this shit. Can't wait until the platform is online.

[FishingExpedition]

Thank you Reggie for keeping everyone appraised of what transpired and how it was handled.  My condolences on your loss!  You have structured Veritaseum brilliantly to avoid any potential SEC violations.  But what about Ethereum?  What would happen to Veritaseum if the SEC came down hard on them?

[toknormal]

This is the END of racism

Then don't quote it.

I reported that post and suggest others do too. It will get deleted by the mods but if you go quoting them you're just making your own post a target for reporting as well.

[azmojo]

Is the author of this just careless or was there something I wasn't aware of?
https://www.bleepingcomputer.com/news/security/hacker-steals-8-4-million-worth-of-ethereum-from-veritaseum-platform/

From the article:
Veritaseum was holding its ICO over the weekend, allowing users to buy VERI tokens for a product the company was preparing to launch in the realm of financial services.

What ICO was this?
What product are they preparing to launch?

[Dorky]

It would be good if we know which corporate partner that betrayed us all.
Anyone of us can take independent action on those bastards behind it.

And fuck that Bittrex already.
Clearly Veritaseum doesn't need this particular exchange to prosper.

Edit:
Nobody fucking need Bittrex to buy VERI, so please stop focusing on Bittrex already.

[endchat]

Is the author of this just careless or was there something I wasn't aware of?
https://www.bleepingcomputer.com/news/security/hacker-steals-8-4-million-worth-of-ethereum-from-veritaseum-platform/

From the article:
Veritaseum was holding its ICO over the weekend, allowing users to buy VERI tokens for a product the company was preparing to launch in the realm of financial services.

What ICO was this?

dude half these websites couldn't find a fact if it was lodged between the ONLY 2 functioning brain cells...some of them don't even describe the simple mechanisms of this industry with any precision...it's almost like they have no idea about anything crypto related

It seems the quality of these sites is becoming worse by the hour, like they are just here for clicks and to spread FUD...


Speaking of FUD....anyone notice all the coward shills coming out in full force to try to kick Reggie in the balls even though he has been more visual and up front and outspoken, than any other project out there?

The shills are plain as day, and most seem to have the intellect of an amoeba, anyways...move along, nothing to see here lol

[Dorky]

This is not magic math. There are 100M tokens issued, the hackers stole about 37k. As I said, it is quite disconcerting, but it is not the end fo the world. In the scheme of things, this is small. The tokens were stolen from me, not the token buyers. I am not downplaying the seriousness of the heist either, but I am looking at the heist for what it is. A company that we use was compromised, the vulnerability was closed, and we are investigating whether we should move against that company or not.

As for Dorky,  yes, execution of management and the team play a prominent role. That was evident in our marketing materials. Just as with EA, the quallity, dispersion and sales of their video games is highly reliant upone the execution of the management and the team behind them. This should be no surprise. I also was clear to say "team". This is not about me, its about the team. For some reason, you want to make this about me - as if I can write patent applications, write code, architect software, create valuation frameworks and analyze companies all on my own. The talent of that team is what you are purchasing when you purchase VERI. I have went out of my way to ensure that is the case.

If you are not comfortable with the team and the utlitly they enable the software endusers to manifest representing the value in lieu of an inanimate piece of code itself, then maybe you misunderstood the value proposition. There's no difference between Veritaseum and team representing the value than there is between Gates and his team (MSFT), Zuckerberg and his team (FB), Page and his team (GOOG), Bezos and his team (AMZN). or a whole host of other value creators.

I believe if you can make the platform a public utility, somewhat freely accessible to all VERI holders to use, to structure their own listing, and to commit to a P2P transaction (the system being autonomous, requiring the least amount of manual input whenever necessary while automated for the rest), without having to go thru the team, and independent of the team (save for buying research reports), then I say your system would be a world-class platform comparable to bitcoin (there is no need to compare with any 2nd best). Not many things in this world deserves my high expectation.

[greyswan]

What ICO was this?

They must've meant the Advance Private Pre-ICO Select Pre-Sale of the LDT: Language Destruction Token. Centralised POS for legacy media corps.

[azmojo]

And fuck that Bittrex already.
Clearly Veritaseum doesn't need this particular exchange to prosper.

Edit:
Nobody fucking need Bittrex to buy VERI, so please stop focusing on Bittrex already.

To be fair, Bittrex hasn't added anyone other recent ICOs lately that I'm aware of other than PAY. Neither has Polo. Give them a chance, they will.

I'm guessing they are overwhelmed with business. Saw an article that Coinbase added 100k users in 3 days.

[azmojo]

dude half these websites couldn't find a fact if it was lodged between the ONLY 2 functioning brain cells...some of them don't even describe the simple mechanisms of this industry with any precision...it's almost like they have no idea about anything crypto related

That's what I thought.
You never realize just how bad/inaccurate the press is until you have an article written about you.

[Dorky]

To be fair, Bittrex hasn't added anyone other recent ICOs lately that I'm aware of other than PAY. Neither has Polo. Give them a chance, they will.

I'm guessing they are overwhelmed with business. Saw an article that Coinbase added 100k users in 3 days.

If they are not listing Veritas out of discrimination, whatever the type of discrimination is, then fuck them.
We don't need Bittrex. Let them go fish.

Edit:
By the way, if I were in charge, I would sue that corporate partner for 100% of the damages inclusive of having them recover 100% of all the tokens stolen (they can do it by acquiring them in the open market, if they incur higher costs doing so it's their problem), return all the tokens back, and I will put the tokens back into the reserve. And I will make sure to have this legal action made public so everyone can see who the scum is.

[toknormal]

Why not get Dr Pippa Malmgren introduced to Veritasium ?

She seems to:

 • understand blockchain assets and their implications for distruption
 • have a strong background in global finance
 • have a strong presence in advising institutional investors

[endchat]

And fuck that Bittrex already.
Clearly Veritaseum doesn't need this particular exchange to prosper.

Edit:
Nobody fucking need Bittrex to buy VERI, so please stop focusing on Bittrex already.

To be fair, Bittrex hasn't added anyone other recent ICOs lately that I'm aware of other than PAY. Neither has Polo. Give them a chance, they will.

I'm guessing they are overwhelmed with business. Saw an article that Coinbase added 100k users in 3 days.

I m afraid that simply isn't true,

They have added Mona.co, Status, OMG, Pay/tenx, 1st blood, patientory, humaniq, trust, adex, ect ect ect...

those aren't old by any standard

[btsfreak]

If they are not listing Veritas out of discrimination, whatever the type of discrimination is, then fuck them.
We don't need Bittrex. Let them go fish.

Edit:
By the way, if I were in charge, I would sue that corporate partner for 100% of the damages inclusive of having them recover 100% of all the tokens stolen (they can do it by acquiring them in the open market, if they incur higher costs doing so it's their problem), return all the tokens back, and I will put the tokens back into the reserve. And I will make sure to have this legal action made public so everyone can see who the scum is.

That's the "Victimize-me" view, truth is rather, that no exchange will accept a coin that only has a free-flow of 2%. Period. Accept it.
Because Reggie (and his team) could play the price up to 20 trillions or down to 10 USD without even paying anything for it.

So you can end this exchange discussion.