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Topic: VERITASEUM DISCUSSION THREAD - page 34. (Read 251040 times)

sr. member
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January 30, 2018, 04:47:35 PM
how many veri tokens do we need to make it? just need 1 to get access to Veritaseum exchange? Or do we need 3? Would like some help on that. Thanks. 
A page or so ago I reviewed the VeADIR. The price to buy VEADIR exposure is currently set at 1%. That is, .01 VERI for 1 ETH of exposure. I thought I heard Reggie say it was changing to 5%, so .05 VERI to buy 1 ETH of VEADIR exposure.

At $400 VERI and $1050 ETH, the new price would amount to about a 2% fee, or 0.4% if left at 1%. I would expect them to adjust the price to keep the fee at 1-2% as prices change.
newbie
Activity: 10
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January 29, 2018, 10:24:17 PM
how many veri tokens do we need to make it? just need 1 to get access to Veritaseum exchange? Or do we need 3? Would like some help on that. Thanks. 
full member
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member
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January 29, 2018, 06:01:01 PM
full member
Activity: 280
Merit: 102
January 24, 2018, 08:16:53 AM
Anyone know if the public beta is still on for today? No link on the website for it yet.

Not sure, but I'm still expecting it unless we hear otherwise.
newbie
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January 24, 2018, 08:02:56 AM
Anyone know if the public beta is still on for today? No link on the website for it yet.
member
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January 21, 2018, 12:12:14 PM
Fireside Chat With Reggie Middleton on Veritaseum's VeADIR & the Disintermediation of Wall Street
https://www.youtube.com/watch?v=FHuHUQ35khQ
sr. member
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January 20, 2018, 02:37:43 PM
The latest video mentions that there have been non-public deals for physical assets. One of which is a Caribbean airline I'm sure there will be more info coming...
member
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January 20, 2018, 11:05:33 AM
Johny08.

Your math sucks. The current market cap. of VERi is approx. $ 920M. Perhaps you should stick with something a little easier to comprehend.

Veritaseum will disrupt a lot of businesses in the future and in time the markets will continue to reward those companies with solid fundamentals. I will be using my VERI tokens within the companies platform for a long time to come.
legendary
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January 20, 2018, 03:08:53 AM
That doesn't make any sense. You're basically saying that if he wants to target institutional users, he should start by approaching people that are not his target?

Whatever I say will not make sense to you. Even institutional users come in various range of size; small, medium, and large. Instead of targeting large institutional users (like stock market operators), he may want to target small institutional users (businesses having the need to tokenize assets) to establish a convincing user base first.

Or to put it differently, instead of going for institutional users with business operations in the multi billions of USD, try targeting institutional users with business operations in the multi millions of USD. This may come as a surprise to some with no business strategy skillset, but it actually makes things smoother and more promising. One small steps at a time instead of eyeing for a huge big leap.

And stay on course (don't divert to elsewhere) on the platform being used for asset tokenization as well, beside providing P2P exchange. Asset tokenization will be one of the major economic wealth generation in the future.

So far, using 1 VERI to get 100 ETH of exposure for trading purposes is a petty venture. Good short-term prospect, but lousy long-term prospect. Where is the feature for asset tokenization, which is a great long-term prospect? Asset tokenization opens up a huge market for commercial financing and ownership, and Veritaseum being very early to have a close to fully-functional commercial platform, should also start establishing itself as the first to do asset tokenization for real.

Update:
And since VERI is very divisible, it should not be negative if used token can be burned to reduce the supply, just like many other ICOs are doing. Then value gain from holding VERI would be more positive. Market value goes up along with declining supply = bullish. Otherwise, we will see market value going up to multiple figure (just imagine) and yet the supply remain the same, putting a big brake on token price bullishness. As the token is very divisible, burning used token does not cause harm to Veritaseum's bottom line.

If my suggestion to burn token is feasible, viable, practical, and reasonable/logical, then it should be seriously considered. That's how progress takes place. Not by stubbornness, but by flexibility.

Update #2:
In fact, if 50% of the total token supply is burned, leaving only 50 million instead of the original 100 mil with 98% waiting to be sold, then the token price would be super bullish. Economic value to Veritaseum isn't in selling the same supply of VERI over and over again repeatedly, but in selling a dwindling supply of VERI that continue to increase in value higher and higher. And whether the value will increase or decrease does not depend on how much supply Reggie is holding in reserve, but in the economic use case of Veritaseum. There is no point not to burn used token if adoption/participation is weak. But if adoption/participation is strong, then burning used token will give further boost to the wealth generation effect of holding VERI. And the adoption/participation of Veritaseum depends on its economic use case, not on recycling sold token back to Veritaseum to be sold again and again. Because this recycling does not add any economic value to everyone, then by reasonable and logical right, burning used token should be seriously considered. Or better still, burning the 50 mil in reserve that will very likely never ever going to be sold would be even better. And if Reggie stubbornly insist on recycling sold VERI back to Veritaseum to be sold over and over again, then what difference does it make having 50 mil in total supply vs having 100 mil in total supply? The supply will not dwindle to zero anyway. And if the turnover will be high, then it makes no difference having 50 mil vs 100 mil in total supply. But in term of wealth generation to VERI holders, having just 50 mil in total supply means a very big difference.

Update #3:
Nowadays there are many ICOs that burn all unsold token. Even with very limited circulating and total supply, the business operation remain as sustainable as ever because the token is very divisible. If token is not divisible, then 100 mil means exactly 100 mil. But since it is very divisible up to 18 decimal, then 100 mil can mean 100 mil x 10^18 in total supply in the absolute sense, which is insanely far more than necessary for everyone's use. Since Reggie is flexible in regulatory compliance, then why not be flexible in burning unnecessary supply of token too?

A person's family wealth is not dictated by how much greed he has in his heart and mind, but by how much economic value he can contribute to the society.

Update #4:
In fact, the more token is burned (from that 98 mil supply in reserve), the better. A poor guy can have 1 VERI to get 100 ETH exposure. If supply is burned by 10x less, then price will adjust to 0.1 VERI for 100 ETH exposure. Will this impact institutions trying to buy in bulk from Veritaseum to use the platform? Not at all. The value proposition will remain just the same as before. Institutions and government agencies are very hard and slow to change. Will Reggie be just the same?
If you disagree with the CEO's approach you probably should sell your VERI and move on. I don't see that changing... ever... no matter what is posted in this forum.

I for one, have full faith that Reggie is running his company very effectively and pursuing the highest value opportunities and customers first. Be aware that his priorities are going to be for long term sustainable profit for Veritaseum, and not necessarily for token holders. Although I will argue that most things good for the company are good for the token holder.

You suggest some measures to manipulate token value by manipulating supply, but I do not see the current supply and distribution as a problem. Until this big dump, VERI had a $1B valuation which is phenomenal by any measure. I fail to see the driving need or value in making any changes to token supply, distribution, or usage.

its a scam. anyone knows. just ignore this token and you will be happy at the end. but this $50 Billion marketcap is nice, guys just dont trade this coin higher then Apple, ok? LOL

member
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January 19, 2018, 08:17:12 PM
sr. member
Activity: 476
Merit: 251
January 19, 2018, 01:39:35 PM
I wonder, if BTC can be veritized, as well as potentially other cryptos not part of the Ethereum blockchain, does that mean Veritaseum can already do its own cross-chain transactions and/or atomic swaps?
No, VERI is not doing any cross-chain swaps. In the video he explained it and I'm not sure I understood what he said but it is most definitely not cross-chain swap. I think they have some other mechanism tying the ERC20 token version of (Bitcoin/whatever) to the price of (Bitcoin/whatever).
member
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January 19, 2018, 01:16:45 PM
Some additional words from Reggie Middleton:

Diego Gutierrez tells me that Rootstock platform that allows smart contracts to be run on top of the Bitcoin blockchain is not only up and running but will allow me to directly port Veritaseum/VeADIR from Ethereum with no effort, and quickly. As I said, we're blockchain agnositc.
member
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January 19, 2018, 01:14:50 PM
Words from Reggie Middleton today:

Signs of conspicuous consumption at the Miami Bitcoin Conference. Veritaseum will introduce a new concept to the markets/consultant crowd: Conspicuous PRODUCTION! Our platform will enable value creation at a clip that'd be considered downright rude to the legacy establishment.
member
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January 18, 2018, 10:35:33 PM
I wonder, if BTC can be veritized, as well as potentially other cryptos not part of the Ethereum blockchain, does that mean Veritaseum can already do its own cross-chain transactions and/or atomic swaps?
sr. member
Activity: 476
Merit: 251
January 18, 2018, 05:08:22 PM
Reggie Live Demo: https://www.youtube.com/watch?v=CKpqXN9ZD9Q

Updates:
-Public Beta expected Wed Next week
-Jamaica: "Ran into politics, working through it"
-Working on 5 more nations: 5 more (countries?) in the pipeline, 5 in Africa (?), 1 more Caribbean nation.
-Looking into trying other blockchains, but still is committed to ETH for now.
-May have ambassadors go to cities do demo the platform.
-Looking to Veritize portions of the political machine and voting, coming veri soon.
-There may be a Veritaseum super-PAC (political action committee)
sr. member
Activity: 476
Merit: 251
January 17, 2018, 07:48:37 PM
I can't believe no one mentioned this tweet from today:

Screenshot of beta 2 of the VeADIR. The soon to be updated Veritaseum website will look very similar to this as the VeADIR will be integrated tightly into the Veritaseum home/landing page. Max duration limit has been lifted to 30 days for private beta testers, request URL from me

Did everyone catch that?

A NEW WEBSITE!

OK, Updated... assume that means new.
member
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January 17, 2018, 05:48:12 PM
From Reggie Middleton today:

I'm at 1 Hotel in Miami through Sunday, demonstrating VeADIR w/ real capital to all who are interested. I'll create funded exposures (using our funds) for HNWs & those who run money at institutional level to show what we can do for you - NOW! Also discussing our latest research.

sr. member
Activity: 476
Merit: 251
January 17, 2018, 02:46:21 PM
Can someone please explain what is this cryptocurrency for and its features? The website really looks bad and the text at the top "Imagine Having the Keys to the Internet in 1994" really fits the page as someone from that time lost those keys and nobody's been able to change it. Furthermore, what keeps it in the top 100 Market Cap for so long? And it's mostly traded on EtherDelta - seems sketchy.
Scroll back a few pages. This was all gone over recently.
newbie
Activity: 28
Merit: 0
January 17, 2018, 07:33:01 AM
Can someone please explain what is this cryptocurrency for and its features? The website really looks bad and the text at the top "Imagine Having the Keys to the Internet in 1994" really fits the page as someone from that time lost those keys and nobody's been able to change it. Furthermore, what keeps it in the top 100 Market Cap for so long? And it's mostly traded on EtherDelta - seems sketchy.
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