VERITASEUM DISCUSSION THREAD - page 2.

Greenmountains

newbie

Activity: 21

Merit: 0

Quote from: Dorkie on November 16, 2019, 05:23:49 AM

Quote from: Greenmountains on November 14, 2019, 12:47:21 AM

Everything else dumb and wrong on so many levels. Like most everything else you say.

Absolutely.
I can't fucking agree more.
Power Ledger is dumb and wrong.
Paypie is dumb and wrong.
Many other blockchain enterprises that choose to go the route of being securities are dumb and wrong.
Damn, you are such a fucking genius!
And as a result of being such a fucking genius, you end up being the ultimate bag holder of a hopeless shitcoin.
Congratulations!

FYI, I don't hate the project.
I dislike Reggie for being stubborn and in hubris.
And as a result, he screwed up a potentially promising project and ruined a major profit potential of the coin.
If you think you are not in it for the money, you are dumb and wrong yourself.
If you think Veritaseum still have massive potential, you are living in fantasy.
Sorry, but no profit and potential for you anymore.

I made a many multiple profit a long time ago.
So as usually you are an idiot talking out his ass only proving you are a know nothing ass.

naaktslak5

sr. member

Activity: 492

Merit: 251

Reggie is a contrarian badass.

Dorkie

member

Activity: 420

Merit: 13

Quote from: Greenmountains on November 14, 2019, 12:47:21 AM

Everything else dumb and wrong on so many levels. Like most everything else you say.

Absolutely.
I can't fucking agree more.
Power Ledger is dumb and wrong.
Paypie is dumb and wrong.
Many other blockchain enterprises that choose to go the route of being securities are dumb and wrong.
Damn, you are such a fucking genius!
And as a result of being such a fucking genius, you end up being the ultimate bag holder of a hopeless shitcoin.
Congratulations!

FYI, I don't hate the project.
I dislike Reggie for being stubborn and in hubris.
And as a result, he screwed up a potentially promising project and ruined a major profit potential of the coin.
If you think you are not in it for the money, you are dumb and wrong yourself.
If you think Veritaseum still have massive potential, you are living in fantasy.
Sorry, but no profit and potential for you anymore.

Greenmountains

newbie

Activity: 21

Merit: 0

Quote from: Dorkie on November 07, 2019, 12:26:09 AM

By right, Reggie should have taken my advice.
If he did, today's Veritaseum would have a sustainable foothold in the industry.
I repeatedly advice to burn all his 98% token supply and convert the remaining tokens to be profit-sharing, like equities would.
And being a profit-sharing token, he has the liberty to register the token as securities and all these steps would free him from recent prosecution.
At the same time, Veritaseum may continue to tokenize assets and they would add further value to VERI holders, tremendously.

Too bad, Reggie's stubbornness and hubris caused his own downfall.
Too stubborn.
Too proud of himself.

My advice was not wrong.
In fact, that is what some ICO projects are doing.
Power Ledger is converting its tokens to become securities.
PayPie is also doing it similarly.
Many projects that are smart enough to see the future would realize this and would take similar route, but not Reggie.

Reggie was stubborn to think could resolve with SEC. He should have packed up and moved to a more friendly jurisdiction long ago as many other companies have done. They clearly have a personal vendetta against him and aren't going to deal fairly or ethically with him.

Everything else dumb and wrong on so many levels. Like most everything else you say.
And why do you care so much about a project you hate and hate founder?
Grow up and move on.

Dorkie

member

Activity: 420

Merit: 13

By right, Reggie should have taken my advice.
If he did, today's Veritaseum would have a sustainable foothold in the industry.
I repeatedly advice to burn all his 98% token supply and convert the remaining tokens to be profit-sharing, like equities would.
And being a profit-sharing token, he has the liberty to register the token as securities and all these steps would free him from recent prosecution.
At the same time, Veritaseum may continue to tokenize assets and they would add further value to VERI holders, tremendously.

Too bad, Reggie's stubbornness and hubris caused his own downfall.
Too stubborn.
Too proud of himself.

My advice was not wrong.
In fact, that is what some ICO projects are doing.
Power Ledger is converting its tokens to become securities.
PayPie is also doing it similarly.
Many projects that are smart enough to see the future would realize this and would take similar route, but not Reggie.

Dorkie

member

Activity: 420

Merit: 13

Quote from: CoinMLS on November 05, 2019, 12:12:21 PM

I'm not sure if, how, or why funds would be returned to ICO participants, as at current prices the token can be sold for far more than ICO price, so who would ever want a refund?

I speculate that is probably why the price of VERI is still going up despite the judgment, to prevent anyone from asking for a refund.
And whoever that would be this stupid to keep buying to pump up the price, well, I speculate is no other than Reggie himself, just saying.

The people that were not participant of the ICO will not have the right to refund, even if they bought VERI at $90, simply because the refund is only for ICO investors.

CoinMLS

jr. member

Activity: 192

Merit: 1

Quote from: tmfp on November 05, 2019, 01:52:33 PM

Here's the actual judgment.
It appears to gut Veritaseum, taking 'Frozen Bank Assets' and 'Frozen Metals' to the value of the judgment. This would presumably lead to Veri defaulting on existing contracts.
IANAL but it's difficult to see how there's any future for Reggie in the digital asset world, given his permanent disbarment from "engaging in any offering of digital securities."

I think the key there is "securities." Reggie can still issue utility tokens. Obv there's a fine line and he'd have to be very careful to walk that line. He's always maintained VERI to be a utility token, so perhaps he could re-issue VERI in a different and fully compliant way.

Quote

The Fair Fund is for reimbursement of losses suffered by "harmed investors" due to Reggie's admitted fraudulent behavior, not just for a blanket refund. Maybe someone who FOMO'd @ $90 will qualify, seeing as it's been agreed in the settlement that he manipulated the price.
As for "current prices", I don't see too many buy walls on Mercatox.

I guess we'll see, but rough math at $9M and 2M tokens outstanding is only $4.5/token.
Maybe no buy walls on Mercatox but strangely, no stampede to liquidate either. Kind of blows my mind. VERI price plunged to $6 after announcement of the SEC action and has mostly recovered. Strange it has not moved.

Quote

Perhaps, but Occam's Razor says he's f*cked.

I could argue the opposite. Now he's free of threat of prosecution. He's made a lot of connections and formed a lot of relationships. He had a lot going on with Africa and their exchanges and gold. He could entirely shut down the VERI operations and start anew in Africa with his project(s) there and probably do quite well.

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Quote from: CoinMLS on November 05, 2019, 12:12:21 PM

It's really hard to determine the real impact of this. It sounds like Reggie will either have to raise investor cash traditionally or pay out of pocket. Unclear if that will happen.

Here's the actual judgment.
It appears to gut Veritaseum, taking 'Frozen Bank Assets' and 'Frozen Metals' to the value of the judgment. This would presumably lead to Veri defaulting on existing contracts.
IANAL but it's difficult to see how there's any future for Reggie in the digital asset world, given his permanent disbarment from "engaging in any offering of digital securities."

Quote

I'm not sure if, how, or why funds would be returned to ICO participants, as at current prices the token can be sold for far more than ICO price, so who would ever want a refund?

The Fair Fund is for reimbursement of losses suffered by "harmed investors" due to Reggie's admitted fraudulent behavior, not just for a blanket refund. Maybe someone who FOMO'd @ $90 will qualify, seeing as it's been agreed in the settlement that he manipulated the price.
As for "current prices", I don't see too many buy walls on Mercatox.

Quote

Perhaps if Reggie sold a lot of ETH at its highs, he has money banked to continue operations anyway. A lot of unknowns.

Perhaps, but Occam's Razor says he's f*cked.

CoinMLS

jr. member

Activity: 192

Merit: 1

Quote from: naaktslak5 on November 01, 2019, 01:22:36 PM

is this the end for veri?

https://cointelegraph.com/news/ny-court-orders-veritaseum-to-pay-back-8-million-from-illegal-ico

I don't trust the reporting to get all of the details correct, and I've read other articles also.

It's really hard to determine the real impact of this. It sounds like Reggie will either have to raise investor cash traditionally or pay out of pocket. Unclear if that will happen.

I'm not sure if, how, or why funds would be returned to ICO participants, as at current prices the token can be sold for far more than ICO price, so who would ever want a refund?

Perhaps if Reggie sold a lot of ETH at its highs, he has money banked to continue operations anyway. A lot of unknowns.

naaktslak5

sr. member

Activity: 492

Merit: 251

is this the end for veri?

https://cointelegraph.com/news/ny-court-orders-veritaseum-to-pay-back-8-million-from-illegal-ico

CoinMLS

jr. member

Activity: 192

Merit: 1

Quote from: Flex2222 on October 13, 2019, 07:27:20 PM

On november 14th we will see what happens with veri

https://www.securities.io/reggie-middleton-enters-sec-settlement-discussions-veritaseum/

Nov 14 is just pre-trial.
Reggie will settle before then. As much as I'm sure he'd like to fight and win, seeing what the other ICOs are settling for, Reggie can pay a fine of just a few percent of what he raised and be done with it all, and that will probably make the most sense so he can continue running his company.

Flex2222

member

Activity: 84

Merit: 10

On november 14th we will see what happens with veri

https://www.securities.io/reggie-middleton-enters-sec-settlement-discussions-veritaseum/

CoinMLS

jr. member

Activity: 192

Merit: 1

Quote from: royserpa on October 12, 2019, 02:43:28 PM

Quote from: CoinMLS on October 10, 2019, 03:43:50 PM

Look at the price, back over $20! I hope you all loaded up at $6.

Yup! Nice pump by Reggie and Co!!!
I knew Reggies wouldn't stand pumping his shitcoin again Cheesy

:D

All the more reason to buy it. This is a good thing for token holders, not a bad thing. I wish more project owners would pump their coins and make me money.

royserpa

copper member

Activity: 165

Merit: 1

Roy's Poker Room - BTC, 0.1% Rake, No KYC

Quote from: CoinMLS on October 10, 2019, 03:43:50 PM

Look at the price, back over $20! I hope you all loaded up at $6.

Yup! Nice pump by Reggie and Co!!!
I knew Reggies wouldn't stand pumping his shitcoin again Cheesy

:D

CoinMLS

jr. member

Activity: 192

Merit: 1

Look at the price, back over $20! I hope you all loaded up at $6.

Flex2222

member

Activity: 84

Merit: 10

Quote from: CoinMLS on October 09, 2019, 04:07:17 PM

That's because Reggie is in settlement talks with SEC.
https://www.coindesk.com/sec-in-settlement-talks-with-fraudulent-ico-organizer-reg-middleton

He'll pay a small fine and then he'll be free to run his business.

that are good news thx for the info my man Wink

CoinMLS

jr. member

Activity: 192

Merit: 1

That's because Reggie is in settlement talks with SEC.
https://www.coindesk.com/sec-in-settlement-talks-with-fraudulent-ico-organizer-reg-middleton

He'll pay a small fine and then he'll be free to run his business.

Flex2222

member

Activity: 84

Merit: 10

nice spike in price, despite the recent troubles veri had.

CoinMLS

jr. member

Activity: 192

Merit: 1

Quote from: Flex2222 on October 07, 2019, 07:59:17 PM

any news about the filled charges by the SEC? Or any news in general last time I heard from reggie was in august

I think there's a hearing later this month.

Flex2222

member

Activity: 84

Merit: 10

any news about the filled charges by the SEC? Or any news in general last time I heard from reggie was in august

Topic: VERITASEUM DISCUSSION THREAD - page 2. (Read 251052 times)