VERITASEUM DISCUSSION THREAD

[arewethereyet?]

Reggie's son sure has a steep 'learning' curve, to reflect upon......

[siaynoq]

 There is also the "hack" that I'm sure he'll have to answer for. SEC question.."why did you not contact authorities after $8 million dollars was "stolen" in the hack?"  Reggie..."ahhhhhhhh" 

[royserpa]

There is also the "hack" that I'm sure he'll have to answer for. SEC question.."why did you not contact authorities after $8 million dollars was "stolen" in the hack?"  Reggie..."ahhhhhhhh" 

Reggie: ahh well, because i stole them myself lel

[Greenmountains]

You people do realize the SEC case is based on the premise there is no such thing as utility tokens. Every US ICO was an unregistered security and everything the company did afterwards will be scrutinized under the strictest possible standards of a publicly traded company.

That should scare the shit out of everyone who owns any tokens from a US ICO or which openly allowed US residents to buy.

[dida]

You people do realize the SEC case is based on the premise there is no such thing as utility tokens. Every US ICO was an unregistered security and everything the company did afterwards will be scrutinized under the strictest possible standards of a publicly traded company.

That should scare the shit out of everyone who owns any tokens from a US ICO or which openly allowed US residents to buy.

I agree with you...It will be a looong legal battle and Reggie can pray that SEC will in a meantime do legal framework to recognise utility token as valid mean of inner platform exchange vehicle.

[FaucetKING]

I don't think that the CEO will fail in the case, i do believe that he will win for sure.
In every trading platform, there's a disclamer asking peoples to only invest what they can afford to lose, other disclamers might be different but has the same meaning, what's the CEO's issue in that?
Also, The E-Mail might have another meaning, there is no evidence that proves 100% that the CEO was playing with investors funds, the SEC have to put more efforts to grab something "REAL" for the peoples to believe in.
I will pray that this will be something equal to the Huawei Chaos that took place in the last weeks and this whole story might turn up to be a FREE AD to VERI that will make it soar. There's no good evidence here, so, let's follow the case

[naaktslak5]

https://coinmarketcap.com/currencies/veritaseum/

VERI is now ranked at no. 1134 on coinmarketcap.

[tmfp]

https://coinmarketcap.com/currencies/veritaseum/

VERI is now ranked at no. 1134 on coinmarketcap.

Look how the volume has fallen off a cliff.
It's almost as if whoever was behind a wash-trading-for-credibility-volume program has been forced to abandon it....

[royserpa]

https://coinmarketcap.com/currencies/veritaseum/

VERI is now ranked at no. 1134 on coinmarketcap.

Look how the volume has fallen off a cliff.
It's almost as if whoever was behind a wash-trading-for-credibility-volume program has been forced to abandon it....

We can clearly see how Reggie and his team are pumping the coin again.

[CoinMLS]

I don't think that the CEO will fail in the case, i do believe that he will win for sure.
In every trading platform, there's a disclamer asking peoples to only invest what they can afford to lose, other disclamers might be different but has the same meaning, what's the CEO's issue in that?
Also, The E-Mail might have another meaning, there is no evidence that proves 100% that the CEO was playing with investors funds, the SEC have to put more efforts to grab something "REAL" for the peoples to believe in.
I will pray that this will be something equal to the Huawei Chaos that took place in the last weeks and this whole story might turn up to be a FREE AD to VERI that will make it soar. There's no good evidence here, so, let's follow the case

The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.

[Dorkie]

The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.

If you read the case, it is about market manipulation and misrepresentation. In case of manipulation, the blockchain has all the evidence.

[naaktslak5]

The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.

If you read the case, it is about market manipulation and misrepresentation. In case of manipulation, the blockchain has all the evidence.

i always found Reggie's comparison with his large holding of Veritaseum to Microsoft selling Windows very strange, like it is software. Did the SEC mean that with 'misrepresentation'?

[gembira]

The SEC has filed charges against Reginald “Reggie” Middleton and two entities that he controls, Veritaseum, Inc. and Veritaseum, LLC (collectively Veritaseum). For more information, please refer to: https://www.sec.gov/news/press-release/2019-150

CMC published this:

https://coinmarketcap.com/currencies/veritaseum/

As i see they are not listed to any decent exchanges (only small).

Have they were listed before to any top exchanges or exchanges already delisted them?

[CoinMLS]

The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.

If you read the case, it is about market manipulation and misrepresentation. In case of manipulation, the blockchain has all the evidence.

Yes, and it is legal for a company to manipulate the price of its software. If there was misrepresentation there may be a case for consumer fraud, but it is not within the SEC's purview.

[naaktslak5]

The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.

If you read the case, it is about market manipulation and misrepresentation. In case of manipulation, the blockchain has all the evidence.

Yes, and it is legal for a company to manipulate the price of its software.

Sounds shaddy the way Reggie is doing it. Why even put VERI on an exchange then and not sell it via his website?

[Dorkie]

Yes, and it is legal for a company to manipulate the price of its software. If there was misrepresentation there may be a case for consumer fraud, but it is not within the SEC's purview.

Yes, and SEC will lose the case and VERI will pump real hard way beyond the moon and you will be filthy rich and buy 10 lambos and 10 ferraris.
Continue with your fantasy.

[boomboom]

Yes, and it is legal for a company to manipulate the price of its software. If there was misrepresentation there may be a case for consumer fraud, but it is not within the SEC's purview.

Yes, and SEC will lose the case and VERI will pump real hard way beyond the moon and you will be filthy rich and buy 10 lambos and 10 ferraris.
Continue with your fantasy.

If Reggie wins veritaseum will be known and spoken of throughout the  crypto world as a landmark test case, so yes, it would moon!

I'm not buying more just yet, but I'm not selling either (no point)

[Dorkie]

If Reggie wins veritaseum will be known and spoken of throughout the  crypto world as a landmark test case, so yes, it would moon!

I'm not buying more just yet, but I'm not selling either (no point)

Yes, and people like Tenreiro (the one that investigated Veritaseum and initiated the lawsuit) will lose, and kow tow to Reggie, and kneel in front of Reggie begging for forgiveness, and Reggie will spit and pee at Tenreiro's face.
Continue with your fantasy.

[royserpa]

Yes, and it is legal for a company to manipulate the price of its software. If there was misrepresentation there may be a case for consumer fraud, but it is not within the SEC's purview.

Yes, and SEC will lose the case and VERI will pump real hard way beyond the moon and you will be filthy rich and buy 10 lambos and 10 ferraris.
Continue with your fantasy.

If Reggie wins veritaseum will be known and spoken of throughout the  crypto world as a landmark test case, so yes, it would moon!

I'm not buying more just yet, but I'm not selling either (no point)

I just think that if Reggie/VERI wins this case, MORE scammers will pop up. Thats all I'm saying.

[CoinMLS]

I just think that if Reggie/VERI wins this case, MORE scammers will pop up. Thats all I'm saying.

Maybe, but it will also provide clarity for many existing and future projects to proceed with, and it should unleash billions of dollars into crypto.

Reggie filed his response:
https://drive.google.com/file/d/1l43sl7Q5NLEcNrQGnh4T2n_hBFkGULlx/view

The SEC has been investigating him for 2 years and only now they choose to act? This case is rotten.

BTW, I have seen a few people say that Reggie requested a jury trial. I think it was clear that the request was made in the SEC's filing.

Update:
After reading the defense, Reggie is on solid ground and the SEC is way off base. I'm sure the order freezing funds will be lifted, and that Reggie is likely to win the case. There are other more vulnerable projects the SEC could have chosen, but for some reason they are after VERI. They are going to lose and it is going to propel crypto to the next level.