Topic: VERITASEUM DISCUSSION THREAD - page 91. (Read 251040 times)

Why then did they make an ICO at all? Because they have a good heart and want to make all those small investors which are not needed rich i guess...? Time to listen to yourself: Grow up.

A FAQ isent needed at all, the ico offering was to provide the chance for small investors to get hold of the veri, the rest is reserved for the actual customers, Veritazium's concern is not the actual value of the coin anymore since no more will be offered, if you want to have a FAQ write it yourself, i just dont care, if a  noob wants to know he has to research, the value will come from the business side of it, and to those who say it has to be full transparency, i say grow up, it dosent work like that in real life, they cant disclose ongoing business deals, no matter how much you want, it would ruin the deals.

The value of the company hasn't come from the wheeling and dealing of tokens, if u cant grasp that, i rest my case.

If price could drop im all for it, since i just load up more Veri 

These are general questions that I already know the answer, but the Veritaseum team should use them as non-exhaustive points to form a comprehensive FAQ for dummies.

1. What is the difference between Veritaseum and Veritas?
2. Is Veritas a form of investment? And why?
3. Why is Veritaseum's market cap so underreported? And is this valid?
4. How dependent is Veritaseum to the Ethereum blockchain for its P2P platform?

Some others that I don't know of include:
1. When will Veritaseum's P2P platform be available to the public?
2. Can Veritaseum be made SEC compliant in case that becomes extremely necessary (i.e. SEC dictates ALL ICO entities are investment entities)?
3. Can the platform be ultimately used between peers without going through Veritaseum's team?

There are 2 ways to make videos: 1) Use a real person to do the talking, or 2) Use animations to illustrate the use case events. Unless the team lacks resources, they should go for option 2. Look at how interesting some educational video can be, here's some examples I can find as benchmark @ https://www.youtube.com/watch?v=PHe0bXAIuk0 and https://www.youtube.com/watch?v=iFDe5kUUyT0. Notice they both explain complicated subjects in very very interesting AND professional ways.

Doing the FAQ (and other educational materials) should NEVER be overlooked or else things may come back and bite the team repeatedly in the ass.

I also noticed that Veritaseum practices conventional/traditional business model, i.e. centralized and private, in an industry (blockchain) that revolves around being decentralized and transparent. If Veritaseum intends to have a sustainable business, it better start changing its business model. Don't tell me the team is doing this and that because other companies like Microsoft and Facebook are doing the same. This is not the true style of being a contrarian. Reggie has only 1 chance to make this a success. And there will be no 2nd take in case of failure. The stigma would be much heavier in case that happens.

I already know that JSE bought to use, not to make gains. The impact starts when they want to use the token. How will Veritaseum quote JSE when JSE wants to use the token? Say JSE bought when price was @ $200 per token. Then something screws up and price now is @ $20 per token. Now JSE wants to use their token. How will Veritaseum charge JSE for any services in term of VERI? Similarly I can buy a report with 1 VERI when the price was @ $200. If it goes to $20 (just an example to illustrate), how many VERI will I need to use to buy a report? You get the idea. Managing expectation by making everyone informed and maintain confidence helps a lot to reduce the volatility and buffer any unintended harmful impact.

Good that the team is working on short videos. Make sure they are simple enough for dummies. And make sure they are vetted by a lawyer just in case. Okay, I will think of a few questions that I believe matters a lot then I will probably list them here or PM you whichever suitable to you. And any finished educational material should be posted at the official site, not here. Any newbie asking the same/similar questions can be conveniently directed there instead of repeating the whole thing here.

VERI is not blockchain specific.

Please note that the JSE and others are not buying to make capital gains. They are buying to redeem the tokens back to Veritaseum. Also we are working on short videos that will explain concepts that many find difficult to understand. If you could come up with a list of questions for the FAQ to start with, I could do that aswell.

Assume VERI is not a security, but bad things happen to ETH, and the value of VERI drops significantly.  It might not even be possible to use VERI because ETH is not usable.  I'd like to know if Reggie and the team have a contingency plan for those that own VERI?  Could they jump on another currency such as EOS and issue tokens to VERI holders?  Reggie's talk of patents is exciting, because his company will be able to do things others won't be able to (most importantly, the banks).  I'm sure the patents aren't Ethereum-specific, so they should apply to EOS or any other currency that is capable of contracts.

Having a comprehensive FAQ matters a lot. Here's why:

1. JSE and others (top 10 stock exchanges, MNCs, doctors, etc), while they do buy without any FAQ, their reference price is from the exchange where VERI is traded, i.e. EtherDelta.
2. EtherDelta's price of VERI is determined by our participation, i.e. buying and selling.
3. Our buying and selling is determined by expectations, i.e. having a comprehensive FAQ in place, in addition to many other things.

If expectation is bad, price will be negatively impacted.
If price is negatively impacted, an institution that purchased the price at much higher price before the impact will lose out (they bought less than they can now).
If such impaired purchases continue to happen, there will be loss of confidence.
Loss of confidence will be another expectation factor.
And the cycle repeats.

Doing a comprehensive FAQ is not a super ultra challenging thing to do. Any Tom, Dick, and Hairy can do one. Even a Dorky person can do one. But that doesn't mean it is not important, or not significant.

Having a FAQ in place will not cause the price to explode sky high, but at least it will reduce the price volatility by helping people to get more informed and restore confidence.

Reggie likes to compare with companies like Microsoft, Facebook, etc, but I believe all these companies have a form/type of FAQ in their websites. So how come Veritaseum doesn't have one? This is where Microsoft, Facebook, etc are used to justify oneself being right, but not when oneself being wrong.

You know what, a Rolls Royce doesn't need leather seats to run well, but it being a luxury car, having leather seats makes it the premier product it strives to become. You will look at Rolls Royce cars differently if they don't have leather seats, but instead have PVC ones. And Rolls Royce may probably have to adjust the price tag a little bit lower. And if they have PVC for seats, plastics for dashboard, Made-in-China stereo system, etc, you can bet Rolls Royce will have to lower their price tag even lower. The CEO can argue why the car doesn't need all these "fanciful" stuff to be exquisite, but I am very confident even Reggie will not buy the CEO's story if he plans to buy a Rolls Royce.

what hes done so far with Veritaseum...is quite amazing, you got to give him that.

I agree that your suggestion of a FAQ would be a benefit. However, I would also agree with Reggie's implied position that it doesn't matter if we have one or not. Clients like the JSE or top 9 stock exchange don't need a FAQ, and that seems to be where Reggie is hyper-focused right now, and that probably is more important. He is more interested in acquiring new customers than pandering to us token holders, and I can't fault him for that. If a noob comes in here once a week and asks about the market cap, it really is no loss if they don't get an answer.

Soon we will have press releases for several major deals that are in the works, and that's all we need really.

He is a good talker, everything else will still have to proven. And he is showing that with talking everyone into the ground you can make tons of money. As soon as the first "deal" is announced, and Reggie will say details cannot be published because of corporate secrecy I am out.

Last time I suggested it here that Veritaseum creates a FAQ that answers all frequently asked questions including the controversial market cap issue, but Reggie being a stubborn person that listen not to advice (sort of "my way or the highway" kind of attitude), ignore my suggestion and so until today people continue to bring up the market cap issue. And I am confident in the future different persons will bring up the same issue again. And the effort to explain the issue will be an endless one. The incapability to handle the issue well (including the hack issue) is the reason why I imply Reggie lacks good management competency. He can say that's untrue, but then the best I can say is he has average project management competency and that's about it. If only there was comprehensive FAQ in place, probably we won't need to face the same issue over and over again. If you feel frustrated over the market cap issue, it is because of your choice to let it persist.

The crypto industry is a new industry that will displace conventional/traditional business models, and require different ways of doing things, mostly on transparency, i.e. an ICO may be run by a private entity but that doesn't stop the entity from being required to be transparent to get the funding. This is an unspoken best practice. Reggie is tapping into this new industry. At the same time, he continues to use the conventional/traditional business models to justify what he is doing, i.e. comparing with Microsoft, Facebook, etc. That is not a good approach, in my opinion. Yes, I am referring to high standards, high benchmark to judge. This is because I am not participating in conventional/traditional business projects, but a new blockchain-based one with main themes like DECENTRALIZATION and TRANSPARENCY. I believe Veritaseum needs to work on these 2 themes if the team wants to survive well into the future.

It's good to be contrarian the right way, but not the wrong way. Or else there will be turbulence. I am saying all this because I care. If I don't care, I wouldn't even waste my time here criticizing like toknormal and others are doing. You need to be humble.

Edit:
Yes, you are not a programmer, not a developer, not a lawyer, not an architect, not a doctor, not an engineer, etc, which is why there is absolutely nothing stopping you from delegating the work to others to do the right thing. For you NOT being able to do so does imply that you are everything, i.e. a programmer, a developer, a lawyer, etc.

Full court press. Bullish.

yes it is quite a bombshell....
"ICO should be regulated as IPO"...
and the model of THE DAO put in as an exemple.
more discussion to come.

Did it stop shining?
The theft actually probably helped VERI long term as it has produced a lot of marketing and awareness.

It's called a software license and while it doesn't have any specific function it most certainly has value. Just because you obtain a copy of a CD that has Microsoft Windows on it does not mean that you are legally entitled to use the software. I admit in this case it is license for software that doesn't exist yet, but that is no different than buying a pre-sale of a new software release. Additionally, the VERI tokens are accepted as payment for research reports. So while *you* might not find them that useful, that doesn't make them worthless.

I hope Veritaseum will rise and shine again.

Although all of those a pure speculations, it would be a way to withdraw some of that billion dollar mountain Reggie is sitting on without anyone being able to trace it. And as long as the majority of followers think like paulmaritz, it would take a couple of billion dollar thefts before anyone would start thinking.
Will be interesting to see what Reggie will really do in the near future to unvocer this incident.

It's not a question of legality, it's a question of commercial viability.

Mined cryptocurrencies perform a monetary function "out of the box" which is that they implement the archetype of a bearer token or "bearer instrument" on an electronic network. You can verify and make use of that monentary function the moment you purchase it, just as you can verify and make use of a copy of Microsoft Windows the moment you purchase it.

On the other hand, a token that is generated arbitrarily by an interested commercial party, that has no software function in its own right nor any monetary function other than its resale value based on a promotional concept directed at a market of a tiny subset of a single wallet.....is of limited market viability and almost 100% risk as far as new investors are concerned.

FUD.
Every Bitcointalk coin thread has numerous "scam" accusations. He'll have to do better than that.