Topic: VERITASEUM DISCUSSION THREAD - page 105. (Read 251011 times)

1. There's nothing "whole new" about it.

2. It's not a "stock market paradigm". It's an accounting paradigm in which (like any other accounting paradigm) value does not 'disappear'. It's simply accounted for somewhere else.

People on here are OBSESSED with market cap and treating coins like stocks. This is a whole new world. You will do well to drop your stock market paradigms.

I understand what you're saying but I'm not sure what you're saying, of that makes sense. The reality is we have trust based structures and interfaces to the blockchain whether or not you favor them and they will always be around. The world of 100% trustless systems is a fantasy land - the world will have trust-based and trustless systems coexisting always. And as such, it will always be possible for the the marketcap of ETH to exceed the marketcap of VERI.

Let's just hope we get to the point where one scenario becomes reality!

You don't appear to understand how things work around here.

Only 2 million of that supply is counted towards token marketcap. The other 98 million goes towards capitalising the issuer's corporate equity (presumably, since it is an asset of their's). You therefore might be better off investing in the company than the token if you're concerned about it
 

Yes, indeed those exchanges do direct transaction.

But...
Do you ever realize because of such direct transaction, those exchanges re-introduce the element of trust into the system?
By right, we get into blockchain because of it being trustless.
And those exchanges doing direct transaction is not being trustless, which is one reason why they can lock/freeze/steal their customers' funds.

What I am in favor of is direct transaction in a trustless network.
At the moment we are doing direct transaction in a trust-based network, which contradicts the blockchain.

If Veritas' market cap exceeds eth's and btc's market caps in a trust-based network, then Veritas' market cap is unsustainable and will adjust lower.
If Veritas' market cap exceeds eth's and btc's market caps in a trustless network, then Veritas' market cap is sustainable and can go even higher.
At the moment, as Veritas is an ERC20 token, thus it cannot exceed eth's market cap in a sustainable way.
I know my argument is hard to be accepted, but I believe I am right in this and time will eventually prove I am right.

Edit:
If you set up an exchange to accept USD for VERI, I will need to trust you that you will send me VERI after receiving my USD.
Then you will say, "No need for trust as everything is based on smart contract".
Yes, but your smart contract will be programmed/written to consider BTC/ETH and ETH/VERI to finalize the transaction.
Your smart contract can NEVER be programmed/written to exclude ETH from the equation (if you say it can, that means you are lying).
In such a structure, direct transaction is possible whereby ETH is used as gas only, not currency, but I still need to trust you.
In a structure where trust is not needed (trustless), then ETH will be used both as gas and currency.
For that, Veritas' market cap will remain capped by ETH's market cap.
I hope you are intelligent enough to understand what I wrote.

The only thing that can reduce the risk of trust, is for the exchanges to have Veritas token stockpiled as reserve.
Then ETH will be used as gas only.
Or else if exchanges have no such reserve, then they will be forced to convert USD into ETH and then ETH into VERI, thus ETH being used as gas and currency, limiting Veritas' market cap.

If this goes to 18k as clif says, would be epic, but isnt there a total supply of 100 million?  means that there would be a theoretical cap of 1.8 trillion?

If this goes to 18k as clif says, would be epic, but isnt there a total supply of 100 million?  means that there would be a theoretical cap of 1.8 trillion?

Not really. There are advantages to being listed on a decent exchange. Even though I am a long term holder I would feel better knowing that there is a mainstream exchange with decent liquidity should I need it. Many investors feel this way. Additionally, there is significant exposure gained from simply being listed on an exchange. I've discovered several coins/tokens simply because I saw them in the top volume or top movers list or something.

Someone is actively accumulating VERI today. price has recovered to 0.7 and appears headed higher, busting through sell walls.

Not being listed is positive. Veri will bypass these centralized crypto exchanges. You gotta start thinking big potatoes

The plan is to don't need them altogether. Bypass them and let them come to Veritaseum,  or out compete them.

Did I interpret it wrong or did Reggie imply that the big exchanges have some kind of problem with VERI and/or were bribed by competitors?

When is VERI going to get listed on a big exchange like Bittrex?

sorry guys.

I deleted my post, used to talk on reddit (https://www.reddit.com/user/carrasboy/) ;

I understand if you think its a scam,

but no worries, just wanted to share this because no veritas community exists on reddit.