VERITASEUM DISCUSSION THREAD

[Carlton P. Spackler III]

Food. The more food available, the more populations grow -- increasing the demand for more food. Reflexive self-reinforcing nature. Is very big food amounts in the world?

If the world population is  7 billion, with each person eating 2 to 3 meals a day, totaling a max of 21 billion meals a day, what will happen if a food producer produces 21 trillion of meals a day? Yeah, sure. You can say the excess 20979 billion of meals be fed to both any pet dogs and stray dogs for free.

The thing is that why would such a food producer bring to market more than current demand? Wouldn't it make more sense to park the PP&E for future expansion and to meet expected future demand. One major difference here is that food is perishable and has a short shelf-life, whereas software is not, and has de minimus carrying costs in relatives terms -- so we got that going for us, which is nice (I think).

[buyabit]

USD as the reserve currency vs Bitcoin. An explanation from Reggie.

https://www.youtube.com/watch?v=72sElwEodho&feature=em-uploademail

[Dorkie]

The thing is that why would such a food producer bring to market more than current demand? Wouldn't it make more sense to park the PP&E for future expansion and to meet expected future demand. One major difference here is that food is perishable and has a short shelf-life, whereas software is not, and has de minimus carrying costs in relatives terms -- so we got that going for us, which is nice (I think).

Food is...
perishable,
has short shelf-life,
has high carrying cost,
not divisible,
not replenishable, as in recyclable,
not resellable,
has fixed market price within certain time period,
and has value dependent on its own utility value as nourishment.

VERI is...
not perishable,
has indefinite shelf-life,
has minimal carrying cost,
has high divisibility,
recyclable,
resellable,
has dynamic market price,
and has no value of its own but dependent on Veritaseum's consultancy services to determine the value.

Notice you try to prove my point is wrong by using food as an example.
But now you said food is not the same as software.

Why do you keep avoiding the divisibility and recycle-ability/resell-ability features of the tokens as if they are none existent?
Strange.
Please read my last comments on how institutions bidding up the price will be beneficial.
And read why high token price with limited quantity will still satisfy market demand.
If you don't understand, the best is to read each line of sentence repeatedly over and over again, slowly, until you understand.
That's how I study things on my own on complicated subjects.

Update:
Microsoft OS license is...
not perishable,
has indefinite shelf-life,
has minimal carrying cost,
not divisible,
not recycable,
not resellable,
has fixed market price within certain time period,
and has value dependent on the utility value of the OS.

Please compare these features of Microsoft OS license to the tokens and spot the differences.

The advantages of being divisible, recyclable, and resellable should be clear to those that have the brains to understand that such features make the 98 mil reserve to meet market demand unnecessary.

[Dorkie]

True, it's been a crypto-bear market recently though so it's not surprising Veri is down (though we've seen up an uptick again, how long for who knows)

Fundamentals remain unchanged, though it gets frustrating at times to see BTC govern the price on so many projects that are very far removed!

Yes, the fundamentals remain unchanged.
Which is why the current VERI price is quite fairly valued.

Consider if the VeADIR can gain exposure to Bitcoin, Ethereum (incl. all the erc20 tokens within its network but excl. their separate market cap because they are just subset of the whole ETH network), and NEO...

Currently...
Bitcoin market cap = USD 152 bil
Ethereum market cap = USD 55 bil
NEO market cap = USD 4.9 bil
Totaling USD 211.9 bil

Assuming cost of exposure is 5%...

USD 211.9 bil x 0.05 = USD 10.595 bil

Current VERI circulating supply is 2 mil...
BUT total supply is 100 mil...!
So USD 10.595 bil / 100 mil = USD 105.95

The current price of VERI is currently probably coincidentally fairly valued.

Why I don't include market cap of the rest of the other erc20 tokens like EOS, OMG, PPT, etc?
Because they are still subsets of the Ethereum network (regardless of whether they will be blockchain agnostic later). Thus including them may result in double counting.

Why I don't include market cap of other major cryptos like cardano, ripple, dash, etc?
Because some of them are still conceptual/experimental and the rest are excluded to be conservative.

Why I don't valuate the token price based on the circulating supply of 2 mil?
Because having the total 100 mil as circulating supply is very possible in the future. And thus, if the market buys the token based on 2 mil circulating supply, it would be grossly overpaid as per ratio in ETH (the dollar value may change but the ETH ratio will mostly assuredly go downward) when more of the 98 mil reserve gets sold and enter the circulating supply. The market is not stupid. Thus to stay safe, the 100 mil supply is used for valuation. Additionally, even if the 98 mil reserve never enters the circulation, there would still be no positive effect to the network despite whatever institutional deal because purchase from the reserve will be OTC, outside the network.

So don't be sad. The price is probably fairly valued.


Update:
I hope Reggie will not keep adjusting the cost of exposure from 5% to another %.
Otherwise, such act IS manipulation.
If Reggie wants the cost of exposure to be updated and timely in accordance to the price of ETH and the price of VERI, then he should make sure the cost of exposure can be dynamically, automatically, and continuously adjusted based on the price of ETH and VERI in real-time.
Then the cost would stay at 5% regardless of the current market price.
Is Reggie smart enough to understand that?

In my experience in life, stubborn people are always naturally stupid.

Update #2:
What would happen if the 98 mil reserve is totally burned?
Why Reggie and everyone else do not want it?
Why is it considered manipulation?
Who would be the victim of such manipulation (please read my previous explanation on institutions bidding up price as well as other technicalities before you answer this question)?

[naaktslak5]

whats the top 10 stock exchange VERI is partnering with?

[Carlton P. Spackler III]

The thing is that why would such a food producer bring to market more than current demand? Wouldn't it make more sense to park the PP&E for future expansion and to meet expected future demand. One major difference here is that food is perishable and has a short shelf-life, whereas software is not, and has de minimus carrying costs in relatives terms -- so we got that going for us, which is nice (I think).

Food is...
perishable,
has short shelf-life,
has high carrying cost,
not divisible,
not replenishable, as in recyclable,
not resellable,
has fixed market price within certain time period,
and has value dependent on its own utility value as nourishment.

VERI is...
not perishable,
has indefinite shelf-life,
has minimal carrying cost,
has high divisibility,
recyclable,
resellable,
has dynamic market price,
and has no value of its own but dependent on Veritaseum's consultancy services to determine the value.

Notice you try to prove my point is wrong by using food as an example.
But now you said food is not the same as software.

Why do you keep avoiding the divisibility and recycle-ability/resell-ability features of the tokens as if they are none existent?
Strange.
Please read my last comments on how institutions bidding up the price will be beneficial.
And read why high token price with limited quantity will still satisfy market demand.
If you don't understand, the best is to read each line of sentence repeatedly over and over again, slowly, until you understand.
That's how I study things on my own on complicated subjects.

Update:
Microsoft OS license is...
not perishable,
has indefinite shelf-life,
has minimal carrying cost,
not divisible,
not recycable,
not resellable,
has fixed market price within certain time period,
and has value dependent on the utility value of the OS.

Please compare these features of Microsoft OS license to the tokens and spot the differences.

The advantages of being divisible, recyclable, and resellable should be clear to those that have the brains to understand that such features make the 98 mil reserve to meet market demand unnecessary.

Huh?

[Dorkie]

Huh?

I thought you were looking for a debate on why some of my points are wrong, no?
Otherwise, pardon me.
Most members here think everything I say is wrong, so there is a bias acquired.

[shithodlingpajeet]

Why are no VERI's talking about the apparent kvein o leary address leak? Where did soemone get ahold of kevins address. All speculation that veritaseum does deal with ritz carlton???

[Carlton P. Spackler III]

Huh?

I thought you were looking for a debate on why some of my points are wrong, no?
Otherwise, pardon me.
Most members here think everything I say is wrong, so there is a bias acquired.

Nah... flexibility. Cheers!

[remol]

What is the main purpose of this $350m market cap coin? It's still unclear for me. Incredibly low vol too for such an high market cap!

[buyabit]

REMOL

Surely you are joking with your message. Perhaps you may click on the web-link below and within 30 seconds of due-diligence you should be able to see an answer to your question.

https://veritas.veritaseum.com

[GmanUtrecht]

I think its a legit question. After watching the website I'm having the same questions. What is this exactly? Looks like a Komodo or Bancore look-a-like project. Buy pretty sure I'm wrong ;-)

[Johnstonchops]

Why are no VERI's talking about the apparent kvein o leary address leak? Where did soemone get ahold of kevins address. All speculation that veritaseum does deal with ritz carlton???

What is this? I haven't heard about either of these things and search doesn't bring anything up, can someone briefly fill me in? was Ritz Carlton mentioned in a video?

[RodneyGrillery]

Why are no VERI's talking about the apparent kvein o leary address leak? Where did soemone get ahold of kevins address. All speculation that veritaseum does deal with ritz carlton???

What is this? I haven't heard about either of these things and search doesn't bring anything up, can someone briefly fill me in? was Ritz Carlton mentioned in a video?

It's a rumor, seems like it may have some legs to it though, so that's likely why you see the current price action.  The below video does a good job explaining the situation and connecting the dots at a high level. 

https://www.youtube.com/watch?v=pU03eUhcjSY

[fdino577]

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. ipfs.io/ipns/rc.veritaseum.com/#/portfolio …

[YGung]

@ngin-x you a straight sucker.  You talk all that talk last year, then you conveniently leave and are no where to be found during the bull run when Veritaseum's cap approached 1 billion.  We didn't see a peep out of you during that time, now you come back when the WHOLE MARKET is getting creamed, talking like VERI is in some class of it's own in terms of decline....PSSSSHHHHSSHHH

[Fern]

So we're being played or this could burst open the Veri tokenization floodgates:

Ritz Carlton Tokenization wallet address: http://etherscan.io/token/0x07c907dbd2449defd4317f3d08dca2ff017cbb11

CNBC Article: http://www.cnbc.com/2018/03/19/kevin-oleary-new-york-city-hotel-hopes-to-launch-400-million-dollar-coin-offering.html

Reggie's Tweet: http://twitter.com/reggiemiddleton/status/972517557734428674?s=21

IMO it seems too early for a big player like Ritz Carlton to do $400 million deal on a new system like this. I understood Reggie said the software was still under review but O'Leary said this deal is SCC approved so a mismatch there. If someone could clear this up then that would be great.

[rubbertoe9]

Huh?

I thought you were looking for a debate on why some of my points are wrong, no?
Otherwise, pardon me.
Most members here think everything I say is wrong, so there is a bias acquired.

You have the biggest hard on for VERI it's hilarious.

[JuanHungLo]

Huh?

I thought you were looking for a debate on why some of my points are wrong, no?
Otherwise, pardon me.
Most members here think everything I say is wrong, so there is a bias acquired.

You have the biggest hard on for VERI it's hilarious.

You know the 'ignore' feature on this forum is most useful.

[buyabit]

Reggie Middleton on Global Veritaseum Work Schedule, Education & Fatherhood

https://www.youtube.com/watch?v=sqL5Sb2vT3w&feature=em-uploademail