Topic: VERITASEUM DISCUSSION THREAD - page 3. (Read 251058 times)

The observation that the supply hasn't changed doesn't mean no one is using the token. When a VERI token is redeemed for services, it goes back into inventory which reduces (not increases) circulating supply. The only way for circulating supply to increase is for Reggie to sell inventory.

AFAIK, VeADIR is still in Beta and I believe that was due to regulatory uncertainty, esp for US users. However, plenty of people have purchased and redeemed physical precious metals and a couple dozen have purchased research reports with VERI.

Clearly, the consumption of VERI has been slow as the build-out of these products has been also while we all wait for regulatory certainty to proceed. It's always slower than we'd like. It seems to me that one thing missing is probably a marketing campaign to let the world know that these products are available, particular the metals program.

It appears that Reggie is putting his greatest effort into developing products for/with African national stock exchanges which is probably a good strategy as you have willing and open minded governments and smaller project scale to launch a trial project with. Once it's proven there it's easy to duplicate and expand. I'll admit though, I'm unclear of the role of the VERI token in any African exchange project although his videos seemed to indicate that he would be providing VeGold tokens for these exchanges to use in their exchanges or national economies somehow.

U cant buy anything without actually getting in contact with someone which u do in this case with Reggie and his team.
The so called "third party" u dont want to trust is now not able, as it is in the traditional markets, to just promise that they can deliver your purchased goods. There is an actual legally binding contract, so u could sue reggie if he wouldnt deliver... no chance in trying that with a silver security.
For peer to peer exchange your right no third party is needed but if u want ot buy a house or gold or land u always have to trust that your trading partner is able to deliver. Smart contracts can enforce the conditions of the contract without a certifying notary but they cant deliver goods to your home u need someone who actually delivers.
Crypto can do nothing about that bro.
Only if we have one Giant trading partner who is able to "veritise" the correct price of the tradebale goods u dont have to see them any longer as a third party.( I think this is the plan reggie has had in mind for a long time now with Veritaseum but we are far far away from that)

we still have to trust a third party. the point of having crypto is that you dont have to trust a third party. just buy some gold stocks, gold coins and bitcoin, more liquidity and safer.

basically the VeADIR brings us back to the point in history where the bankers just stored your gold and did not yet start to lend it out cause they knew most people would just leave their money/gold in the bank and they wouldnt get caught when they enrich themself with the wealth of others.
Thats how powerfull The concept is it potentially brings us back to a point in history before manipulation in the financial markets started big time.
You can do this with every other cryptocurrency on which u can write smart contracts but Veri has actually done it, i dont know if  DigixDAO has allready delivered a working solution like the VeADIR but its the same concept.

Sure.
In the traditional markets u usually buy a security if u purchase silver or gold. (not sure if securities is the phrase to use english is not my native language but u get my point i think)
There are a lot more silver securities out there than actuall physical silver or gold.(in many cases the investor shares his silver with a few hundred other investors)
So you can artificially surpress the gold and silver price by increasing the supply with securities.
But the VeADIR ensures via smart contract that ur purchased metals are physically covered by real gold or silver.(Reggie spent over half a million US dollar last month to purchase physical metals for the VeADIR) Which is much better for u as a customer because i think the moment will come when investors realise that their securities are uncovered and virtually are worth nothing.
When at this point the VeADIR would be much more popular then it is now it could be an alternative to the rigged traditional markets and lead to a real price discovery in silver and gold where the outcome of the price would be substantially higher.

can you explain briefly the VeADIR powerful possible action on precious metal markets ?

Your right thats a problem, there should be more effort to promote for example the VeADIR after the SEC charges have been delt with.

i dont see many people using his product, no one knows it even after 3 years. if many people were using it then there should be more tokens in circulation, its still around 2 million like 2 years ago.

I think Reggie is one of the very few persons in this space who actually gets shit done and tries do deliver a real life application of his product.
The VeADIR is a really nice start, and could potentially lead to a real price discovery of certain goods in many areas.
So its kind of a joke that the SEC has filed charges against Veri and not against any of the other 1000 shitcoins out there which delivered nothing and basically stole the money of their investors( in many cases 100s of millions of dollars).
Maybe its because the VeADIR concept could be a real danger for the traditional rigged markets.(smart contracts which ensure that u can get ur goods delivered to your home if u want to)
Especially in the rigged silver and gold markets, but basically everywhere.
IF it would go Mainstream, and thats a big if when u look at the recent volume since the fake bot volume has vanished( probably cause of SEC charges).
Furthermore the recent spike in price means nothing cause of the low volume but who knows how small these crypto markets really are without bot trading, certainly it shows that veri has much room to grow and i believe it will.
This isnt over.
Good luck to you Reggie

Bix is a tool.
A message to the SEC from VERI holders is a good idea, but that petition is poorly written.

ah the scammer who shills shitcoins. no thnx

Here is someone fighting for Veritaseum:

https://www.youtube.com/watch?v=Kg1lse_Y9-Q

it was in the mail from the SEC

That's all speculation when there is no need to speculate. The ETH blockchain is public, as are the trades on Etherdelta. Please provide the evidence.

i guess you are a large bag holder. its not normal for a CEO to manipulate the price. Maybe to dump his coins on people for a higher price? those are shady practices.

You need to revisit the definition of a scam. Did he manipulate the price lower?
Where is your evidence? The SEC has yet to provide any, and the trades would have been on Etherdelta so it's all publicly available.
Even if he did manipulate the price higher, that would benefit all VERI holders. I'll gladly buy any crypto or stock where the price is manipulated higher because that is for my benefit. I'll buy into any scam where I can make money.

The point is veri is a scam due to the manipulation of price by Reggie and co...

Good job on missing the whole point and highlighting another key difference of the business models. Why wouldn't there be servers to authorize the existing licenses? I didn't say that MS went out of business, I said they stopped selling them thus constricting the supply to the licenses already issued thus making them more valuable. Duh.

The cool thing about crypto-based licenses is that piracy isn't even an issue.

Not really... If Microsoft stopped selling Office licenses, people would resort to pirate practices. Licenses wouldn't be able to gain value as there wouldn't even be authorization servers for the licenses to even work properly...

There is no need for "licenses" when they can't even be used as there are no more servers to "authorize" them.

Again, apples and oranges. If Microsoft suddenly stopped selling Office licenses, the price would increase because some people need that software. Of course, MS won't do that because they have a different business model which is one of infinite supply of licenses contrasted to the controlled supply of VERI. You can predict if you want that the controlled software license pricing/business model won't work, and you can claim it is flawed, but you can't fault people for trying.