Topic: VERITASEUM DISCUSSION THREAD - page 171. (Read 251011 times)

I just took the time and trouble to watch the video to completion and these are what I can say:

1. The video itself does not indicate the Veritaseum project is a scam BUT the interviewer's concerns and confusions are certainly perfectly valid.
2. Reggie described the project as if it is a non-standardized service platform, which if that's the case then I believe the usage would be extremely limited. The main reason why the futures market is way more popularly participated (and most likely much bigger) than the forward market is probably because the futures market trades standardized contracts (never mind the 3rd-party involved which Veritaseum seeks to get rid of).
3. Reggie shifted his project from Bitcoin blockchain to Ethereum blockchain because of regulatory concerns. What regulatory concerns would impair the Veritaseum project and why is that so? Basically I don't believe anything will be allowed to continue persisting for long without regulatory oversight sooner or later, so if regulation is finally in place on both Bitcoin and Ethereum's blockchains, does that mean Veritaseum's project will be as good as gone?
4. I am still unclear of Reggie's regular customer base because this is very important to gauge the existing value of the Veritas tokens. If Reggie's customer base before Veritas existed was tiny, then it's very likely the ready market of potential customers to actually buy Veritas for Reggie's researches would be very very small too, thus limiting the price appreciation and adoption of Veritas tokens.
5. Has Reggie answered the interviewer's unanswered questions in the 2nd half of the video, or are they remain unanswered?
6. Ultracoin historical price chart is basically a failure and most likely no longer recoverable. What will Reggie do to stop the same pricing destiny from happening to Veritas?

Note: I am neither bought and paid for nor the dumbest troll. I am intelligent enough to pursue the CFA program thru self-study (passed Level 2 exam but dropped out because I can't find relevant job with it) with zero background and pursued computer programming (thru self-study as well) to develop my own proprietary trading algorithm program (on my own one-man show), so I believe I am both financially and technically competent to question, to say the least.

Beside that, I strongly believe Reggie needs to polish up his way of explaining things to make it more understandable to those who are not financially-inclined. Even I have a hard time trying to fit all the jigsaw pieces together without the need to ask for more questions. And finally, I strongly believe Veritas needs a good logo for it to catch potential stakeholders' attention.

That worked

what are the contract details we need to add to MEW for VERI to show up?

You might have to re-add the VERI custom token.

nevermind they show up if I click on "Tokens (Ethplorer.io)" . Before now they were just always displayed at the left. Oh well

So all of a sudden my VERI tokens are not showing up in myetherwallet.com is it just me?

The more I read & learn about Veritaseum, the more I think it is a brilliant concept. If some big players in the markets get on board this could be huge.

All your questions are answered in this this thread, the presentation below, and Reggie Middleton's You Tube channel

https://docs.google.com/presentation/d/1FMyNvogofqojqG6nkIjgvvjAnsWs1qOtKUFExvtp_m0/pub?start=false&loop=false&delayms=3000&slide=id.p


 

Unless, of course, your questions are rhetorical ...

I saw this video but assumed that it was old without looking at the date because it said UltraCoin. Do you know when that client was taken down and how long it was available for download before they took it down?

I cant seem to figure out where the VER will come into the picture beside to purchase his reports on coin?

This is a video of Reggie presenting the platform. The peer to peer exchange was functional, and the most remarkable feature was being able to arbitrarily make long and short trades vs other assets as opposed to short the equity vs the US dollar. So for instance you could enter a trade to go Long GOOG and short MSFT. You staked your margin for the trade and then depending on which way the market went, it would swing your way or another. The trades were time limited so if you picked to assets with low volatility the trade might close with no to minimal loss for instance. https://www.youtube.com/watch?v=9qEXsyC41Dw

The feature that was provided by veritaseum was the Oracle that allowed the trades to complete based on closing prices. Since it was a beta, the trades were made without requiring the Ultracoin's for each trade.

My understanding is that they are reworking this around Ethereum smart contracts which requires more work, although this should bring a degree of autonomy to the platform. Including a fee structure on the trades is needed to support ongoing development and demonstrate the need for the tokens, albeit even a small fee would increase demand and consumption of the tokens.

Is there anyway we can see a previous beta version. Links to people using the beta when it was out. Also when was the beta for the bitcoin platform released and how soon after its release was it taken down? I dont see how they kept working on it and not have anything to show for it a couple years later.

I knew they had a version in development before I just didn't know how far they got with it.  I guess that should put some of the doubters to rest. They already had/have a working BTC platform thats being ported over to Ethereum.  

The previous version of the platform was a peer to peer asset trading platform based on bitcoin with a feature of no counterparty risk. It was incredibly smooth in operation and quite advanced. This was released, and at the same time consulting and services were purchasable with the first coins.

Shortly after the beta was released for trading, due to regulatory greyness, the trading platform was pulled from public download. Reggie and team continued to work on the big vision, and provided consulting services for those tokens. (in my estimate) The early token purchasers provided funds for growing this business to where we are now.

I think they're talking about the old UltraCoins.  The previous iteration of Veritaseum built on top of bitcoin used UltraCoins.

If you've got some of those (from before the ICO) you should be able to exchange them for the new VERI tokens.

What's old Veritas and new Veritas?

Were the Veritas tokens sold last month during the 1-month ICO period old or new?

Thanks all!

Been looking at that EtherDelta exchange price for VERI/ETH... going the wrong way at the moment but time will tell! It's so illiquid at the moment anyway that the price on there is probably not reality. I think when big exchanges take this on we will see much more favourable prices and probably medium-to-long term growth with the usual shocks.

If you have old Veritas tokens please email me at [email protected]. We will have to set up a trade for you.

I would like to know also.

To send VERI you first have to add the custom token to your wallet, you then should see a dropdown list when sending ETH. On this list will be VERI. Select VERI and send the amount you wish to send. When sensing VERI make sure that ghe wallet you are sending them to supports ERC20 tokens or else you will lose your tokens. So to answer your second question no you can not send VERI to any regular address, but many wallets do support ERC20 tokens.

Anything under construction is never pretty