VERITASEUM DISCUSSION THREAD

[CoinMLS]

If you were smart you could defend your analogy. See, unlike in your example where everyone has a computer there are still many many customers for VERI. Institutional customers who aren't going to sell their tokens on exchanges but rather they will redeem them for services. Institutions who aren't ever going to piss around trying to buy $1M worth of tokens on Ether-fucking-Delta.

Problem is, you have no fucking idea how stupid you really are. You are effectively 100% clueless.

If you don't understand my points or my analogy entirely, then I suppose they are not suitable for you.
My points and analogy are for people with superior intelligence.
I am sorry if you don't understand.

You are the stupid one who thinks a Billion dollar hedge funds and national stock exchanges are going to buy their tokens on Etherdelta after Reggie burns all of his inventory.

[Dorkie]

You are the stupid one who thinks a Billion dollar hedge funds and national stock exchanges are going to buy their tokens on Etherdelta after Reggie burns all of his inventory.

If a billion dollar hedge fund buys up all of Reggie's 98 mil reserved tokens, then your dream of buying a lambo (or anything other than a lambo) will most likely not going to happen.

Please grow up, boy.

If you think Reggie is a perfect guy that does 100% of everything right, then not only are you stupid, you are also very naive, i.e. lack of real world experience and judgment.

[Carlton P. Spackler III]

'On So Hung'.... and turn it up for the ride!!

[chenjl84]

It's like the ether Fang relationship on the block chain. VERITASEUM will be a breakthrough technology application through the block chain. It's a big and revolutionary thing.

[Dorkie]

You all can worship Reggie and sing praises at Veritaseum... BUT as long as the 98 mil reserve is not burned, then your dream of buying a lambo someday with any profit you get from selling the token will be very disappointed.

You can either join me and call for burning the 98 mil reserve token (which is excessive, if only you have the brains to see it and the honesty to acknowledge it) or you will be very very disappointed.

Reggie's analogy of burning the 98 mil reserve as equivalent to burning his own money is dishonest and bullshit.
Reggie's concern of facing no redemption as a result of having no reserve is dishonest and bullshit.

My points:
1. All the 2 mil circulating tokens are recyclable back into Veritaseum's inventory and can be resold for economic gain to the company.
2. Actual commercial use of the VeADIR for exposure will resolve the imaginary problem of no redemption.
3. ERC20 tokens such as VERI are highly divisible, thus there is no such issue of having lack of supply.
4. Healthy market forces will provide the necessary balance between token supply and the cost/price of VERI for exposure.

All my points above counter Reggie's dishonesty and bullshitness about burning his own money and risk of no redemption.

Reggie continues to hide behind the FALSE ANALOGY of burning the reserve as equivalent to burning his own money is not only a sign of dishonesty but also a sign of cowardice.

Reggie: Will you burn your own money?
Dorkie: Are you implying the tokens are a form of money? Additionally if I register a Microsoft OS license, neither I nor Microsoft can resell my license to another. But spent tokens can be recycled and resold by you! Imagine Microsoft can freely recycle and resell registered licenses to others. And at the same time, it is trying to sell a whole lot more new and unregistered licenses to the market. How would you feel about Microsoft? I would personally say that is a RIPOFF business tactic.

Dishonest.
Bullshit.
Coward.
Intellectually bankrupt.

[BitPotus]

Hold on.

The developer holds 98% of the supply?

 

[buyabit]

From Reggie Middleton today:

VeADIR beta re-released with new features, bug fixes/usability improvements. Full functionality is now limited to Veritaseum team members, but everyone can look into VeADIR activity via "spectator mode". Veritaseum's easily at the forefront of the industry https://ipfs.io/ipns/rc.veritaseum.com/#/portfolio …

[buyabit]

Wow. The fudsters have been been active here lately. Just ignore them all and scroll on by their messages. There are many reasons that they continue to post their drivel but as much as they try, I will keep my tokens and use them on the VeADIR platform.

[Dorkie]

Nobody cares about spreading fud, you fucking retarded idiot.

How young are you? 16?

[Carlton P. Spackler III]

What's in a name?  .... 'Ong So Hung'

[CoinMLS]

You are the stupid one who thinks a Billion dollar hedge funds and national stock exchanges are going to buy their tokens on Etherdelta after Reggie burns all of his inventory.

If a billion dollar hedge fund buys up all of Reggie's 98 mil reserved tokens, then your dream of buying a lambo (or anything other than a lambo) will most likely not going to happen.

Please grow up, boy.

If you think Reggie is a perfect guy that does 100% of everything right, then not only are you stupid, you are also very naive, i.e. lack of real world experience and judgment.

Way to deflect and avoid the hard questions.
Your replies reveal your ignorance because there is no answer.
I never mentioned one buyer buying all of the tokens, but a hedge fund or institutional user may very well buy $1M worth of VERI or more. And you in your blissful ignorance think they are going to go on Etheredelta and buy them after Reggie burns his inventory! Such foolishness.

[1862]

Wow. The fudsters have been been active here lately. Just ignore them all and scroll on by their messages. There are many reasons that they continue to post their drivel but as much as they try, I will keep my tokens and use them on the VeADIR platform.

Indeed, it's a waste of time to do so sadly, refute the point and another straw man is thrown in.

[buyabit]

The usual fudsters must be upset that their $ 50.00 worth of a VERI token has temporarily dropped in value and they just can't take the pain without venting their displeasure.

Whatever happened to these same fudsters who were going to start their own company and show Reggie how it should be done? All talk and advice with nothing to back it up.

Just ignore their posts, do not acknowledge them and eventually they will disappear.

[Dorkie]

Way to deflect and avoid the hard questions.
Your replies reveal your ignorance because there is no answer.
I never mentioned one buyer buying all of the tokens, but a hedge fund or institutional user may very well buy $1M worth of VERI or more. And you in your blissful ignorance think they are going to go on Etheredelta and buy them after Reggie burns his inventory! Such foolishness.

All the hardest questions have already been answered repeatedly in my explanations.

Your replies reveal your ignorance because the answers were already given.

One buyer buying all of the tokens is the SAME as a hedge fund buying just $1 mil of it.
The market mechanism remain the SAME.

If you see me as ignorant, chances are YOU are the ignorant one.

If you cannot even understand my points in words, then you will understand it even less so if I explain things in mathematical equations.
Even if I were to explain things in charts, graphs, and infographics, it would still be not understandable to you.
I have already answered all the hardest questions.
If you don't yet know it, it means you have problem comprehending.
Otherwise, you still have no idea about trading in blockchain-based market microstructure.
If so, then it is your problem.

[Dorkie]

I thought fanatics exist only in religions.

I never thought fanatics can also exist in ICO.
In fact, it seems to me fanaticism in ICO is more serious than fanaticism in religion.

Fanaticism in ICO has everyone calling everything "negative" as FUD.
By right, proper evaluation of why something is negative should be done to learn the truth.
But fanatics take the easy way out by calling everything "negative" as FUD regardless of true or false.

[Dorkie]

Whatever happened to these same fudsters who were going to start their own company and show Reggie how it should be done? All talk and advice with nothing to back it up.

Nothing to back it up?

Really?

Seriously?

Honestly?

In the beginning, Reggie talked about how Veritaseum is going to disintermediate the financial industry by tokenizing assets and securities.

But now...

Veritaseum is nothing but a platform to gain exposure to trading cryptocurrencies.


1. If you think cryptocurrencies is the same as conventional financial assets, then you are very wrong.
2. If you think providing exposure to trading cryptocurrencies will disintermediate the financial industry, then you are very wrong.

You are very wrong because you still do NOT understand the fundamentals of trading, the fundamentals of the financial industry, and the fundamentals of the cryptocurrency industry.

You just think the ICO market will help you buy yourself a lambo and so here you are vested in it.
And when discussions take place to your dislike, you call it FUD because you don't want to lose your money.
In actual fact, you never really know how to make money in this ICO market.
You are just betting on pure dumb luck hoping everything will work out fine.

[ololajulo]

I have my reservation for the project and if the news is true, it should not make some people blind to such a defect. The unburnt token at 98% is enough for a disastrous sell out of the profit on the project. The project was planning a 2x value of ethereum but struggling to make half of it. If just 20% of the unburn token is now sold it will crash the price more.

[Dorkie]

What truly puzzles me is that while my suggestion to burn all 98 mil reserve will help the price to reach optimal level, and everyone here is looking for major gains to buy a lambo, it seems nobody agrees to my method.

Reggie says burning the token is a manipulation of the price.
And everyone blindly agrees to that.
It is as if Reggie says eating shit is nice, everyone would agree to that too.
But why is having 98 mil in reserve not a manipulation too?
Having 98 mil in reserve is manipulation + ripoff.

Reggie would then talk about redemption to justify the reserve, to which I recently just answered that risk of no redemption is a non-issue.
But Reggie being stupid (I was right when I said Reggie only has competency in financial analytics, and nothing else) can never see how and why the risk of no redemption is a non-issue.
And so he will continue to peddle his 98 mil reserve.
To which that approach will continue to depress the price.
Reggie's strategy to reserve 98 mil for sale is a value-sinking strategy.

[Dorkie]

At the moment, the best strategy for the tokens is getting the 98 mil reserve burned.
And the best strategy for Reggie and Veritaseum is to spend his own real fiat money to buy up as many of the 2 mil circulating tokens as possible before burning the 98 mil reserve.

In this way, Reggie will have real skin in the game.
And token holders' interest will be protected.

Reggie using few millions of his own dollars to try out the VeADIR to gain exposure is not equivalent to having a skin in the game.
His fiat money in exposure can be withdrawn once the exposure is over.
His 98 mil reserve is not skin in the game because those are free "money" to him.
His ICO sold 2 mil worth of tokens and that is not skin in the game because those were money paid to him to develop his project.
If Veritaseum fails, Reggie will not lose any money.
If Veritaseum fails, Reggie will only lose his opportunity to make big money. He will not lose any money vested because there is none.

Currently Veritaseum's market cap is around USD 198 million.
Even if he is going to come out and criticize me for being wrong for saying he has no skin in the game, that he has invested personal money to develop his blockchain project, I say any amount involved is paltry compare to the USD 198 million that a majority of the token holders are owning.

My suggestion to burn all the 98 mil reserve tokens will help ALL token holders to realize their financial dreams.
How come nobody support my suggestions? I suppose nobody wants to realize their dreams anymore.
If burning the 98 mil reserve is manipulation, then...
Holding 98 mil reserve for sale is both manipulation AND ripoff.

I hope the next time Reggie the idiot ask anyone if he/she will burn his own money, someone that reads my points here will counter his question back.
And if Reggie uses his "no redemption" imaginary problem as justification, someone that reads my points will point out his fallacy.

[Dorkie]

Reggie: "Ah ha ha hah... Will you burn your own money? I won't burn mine. So I rest my case."

Dorkie: I have already rebutted your "burn your own money" fallacy.




Reggie: "Look, I am a businessman. I am for-profit, not for-charity. I need to have reserve in case of no redemption."

Dorkie: I have already rebutted your "no redemption" fallacy.


I know you are a businessman. And I can feel the extent of your materialistic greed.
We are all greedy, but at least try to do things in a fair and balanced approach to garner the most support.


Update:
Imagine the real estate industry.
Imagine there is a total of 1.5 billion households worldwide.
Imagine every property developer in aggregate develop 1.5 trillion units of property.
Assuming each household has only the need for 1 property (no need for more as there is nobody in need of renting)...
What do you think will happen to the remaining 1498.5 billion of excess property units?
Whether the token is security, or utility, or software license, it cannot escape the balancing forces of demand and supply.
If you have too much of something, be it a financial product or non-financial product, the oversupply will always bring down the price overall.
There is absolutely no such thing in this world that having more of it will make its price go higher, or having lots more of it will make its price go much higher.
This is devoid of economic science and logic.

Update #2:
Now imagine all the 1.5 billion households that own 1 property each, can also rent out their property to tenants.
If you happen to be so broke that you cannot afford a house on your own, you will now have no problem finding a place to stay because oversupply of houses will see all the 1.5 billion householders competing with each other to rent their property as cheap as possible to you.

Household #1: "I will rent you a room for USD1,200 a month."
Household #2: "No, I will rent you one for USD1,000 a month."
...
Household #1,500,000,000: "Rent from me. My best price is USD1 per month!"