Why is this coin tanking?
Answer: because you are looking at a price derived from a couple of very small-time exchanges which have very little volume in the big scheme of things.
You cannot get true price discovery from EtherDelta and things like that. It is way too small for something like VERI.
So, big players are buying direct from Reggie - big players are not using the silly little toys like EtherDelta.
VERI will get listed on it's own exchange when Reggie gets it up and running. This takes TIME, not weeks but potentially months and years, but more probably just months. When a proper road has been laid for big players to actually buy VERI in a legitimate way (not using the small little toys like EtherDelta) then the price will start to show true price discovery.
Also remember: the product isn't fully up and running yet, but Reggie and team are making great headway. They are going on a longer-term path that takes longer to produce the goods but will strike gold when he hits his targets. He is working on those targets. Over the months ahead he will continue to work on the targets. When he hits just one good one - bang - VERI will be worth so much more. But it needs buyers from the big players who will not be using the silly little exchanges that people like me and you use.
VERI will be sold directly in private deals and on serious institutional platforms - the kind we don't deal with. It just takes... yep, you guessed it.... TIME!
So again, in case the point wasn't made properly - this coin is quote "tanking" (which is isn't really, but whatever) because it is simply floating on a couple of crappy exchanges with low volume - this CANNOT reflect it's true price. Forget Bittrex and all that stuff - they cater to people like us too but just in bigger volume. VERI will be aimed at institutional players who do not go to Bittrex and EtherDelta like the small fish (us) do.
Let Reggie keep making and closing deals with the right people, let the natural time pass that needs to pass, let VERI's platform get up and running properly, let VERI get listed on it's own platform and/or with the JSE for institutional players, let the word get out that institutional players need VERI to save massive amounts of money on their business... etc... and in due course the inevitable will happen: the VERI software token will become much more valuable.
I'm excited about the future of VERI but really disappointed with amateur traders/investors sitting in their parent's basement wondering why "this coin is tanking" or "when will this coin go up" etc. It's a shame people without any experience in markets were allowed to invest in it, frankly. And all ICOs really. They are bringing everybody else down like a cancer. People who are watching the price thinking "why aren't I rich yet?" are just child investors. They have no place in crypto investment. Learn how long it takes for legacy investments like stocks to make, say, 100% return and then realise just how lucky you have been up to now by knowing about crypto (believe me, most people do not know crypto exists let alone have made a penny from it). If you have already made 50% or more on your investments on this ICO craze then wow you are doing well compared to traditional legacy investments.
The world (the big players) are waking up and wanting a slice of the pie. BTC will benefit greatly, as will ETH, and VERI will too. You just gotta wait for goodness sake. What is the hardship in waiting?
Sorry you cannot buy that Ferrari before Christmas but who knows, maybe in a few years you will have one or whatever. Let the company take a breath and work it's magic for goodness sake.
