VERITASEUM DISCUSSION THREAD - page 92.

Mimar

sr. member

Activity: 288

Merit: 250

hello veritaseum community.

Quote

Emin Gün @el33th4xor

Veritaseum just went from traditional ICO scam to theft. I guess that's a fitting end to a project that would never be able to deliver.

https://twitter.com/el33th4xor/status/889575940702994434

Whats your opinion?

azmojo

sr. member

Activity: 476

Merit: 251

Quote from: toknormal on July 25, 2017, 08:15:20 PM

Quote from: azmojo on July 25, 2017, 08:12:05 PM

He did not. Token holders have no voting rights and will not receive any profits. Token holders have rights to software.
Microsoft is not selling me equity when I buy their Windows operating system.

But Microsoft is selling you a useful product.

Reggie is not.

Even if it is useless and I'm not saying it is, it is not illegal nor is there regulation for the sale of products that you consider to be useless.

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: azmojo on July 25, 2017, 08:12:05 PM

He did not. Token holders have no voting rights and will not receive any profits. Token holders have rights to software.
Microsoft is not selling me equity when I buy their Windows operating system.

But Microsoft is selling you a useful product.

Reggie is not.

azmojo

sr. member

Activity: 476

Merit: 251

Quote from: toknormal on July 25, 2017, 08:09:16 PM

Quote from: azmojo on July 25, 2017, 07:53:08 PM

Good thing Reggie didn't do this then isn't it?

The specific definition of "worthless" in this case is "unbacked". i.e. the capital contributed by investors to purchase tokens goes to back the shares of the company that issued them, not the tokens themselves.

Contrary to your assertion, "Reggie" did in fact deploy this capitalisation model.

He did not. Token holders have no voting rights and will not receive any profits. Token holders have rights to software.
Microsoft is not selling me equity when I buy their Windows operating system.

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: azmojo on July 25, 2017, 07:53:08 PM

Good thing Reggie didn't do this then isn't it?

The specific definition of "worthless" in this case is "unbacked". i.e. the capital contributed by investors to purchase tokens goes to back the shares of the company that issued them, not the tokens themselves.

Contrary to your assertion, "Reggie" did in fact deploy this capitalisation model.

azmojo

sr. member

Activity: 476

Merit: 251

Quote from: toknormal on July 25, 2017, 06:35:43 PM

In other words, they think the practice of conjuring up an arbitrary number of worthless tokens and using them to capitalise a corporate entity while retaining 100% of the equity in that entity, may be slightly "dodgy".

See https://bitcointalksearch.org/topic/m.20324350.

Good thing Reggie didn't do this then isn't it?

toknormal

legendary

Activity: 3066

Merit: 1188

Why have regulators become interested ?

Because it isn't about the tokens. It's about the companies that issue them. The tokens are worthless. But the issuers are immediately high value corporate assets. How ?

Because, normally when someone invests in your company you have to give them a share in the equity of that company. Token ICOs are a way to circumvent that protocol whereby, the issuer can capitalise a corporate entity while retaining 100% equity.

Also, the argument that tokens are somehow "not a security" is put to bed here by Simon Dixon. He's talking here about Ethereum itself, 6 months ago, but the principle applies even more specifically to ICO meta token issuances by known corporate entities for specific market sectors.

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: davs on July 25, 2017, 06:21:22 PM

Reggie can you comment on new SEC report and how does it affect, if at all, VERI token?

No need for Reggie to comment. It's there in black & white.

Furthermore...

In other words, they think the practice of conjuring up an arbitrary number of worthless tokens and using them to capitalise a corporate entity while retaining 100% of the equity in that entity, may be slightly "dodgy".

See https://bitcointalksearch.org/topic/m.20324350.

davs

newbie

Activity: 58

Merit: 0

Quote from: azmojo on July 25, 2017, 06:24:01 PM

Quote from: davs on July 25, 2017, 06:21:22 PM

Reggie can you comment on new SEC report and how does it affect, if at all, VERI token?

The SEC does not regulate software.

Not yet, but they're planning to...

https://www.coindesk.com/securities-exchange-commission-us-securities-laws-may-apply-token-sales/

StephenCurry333

hero member

Activity: 644

Merit: 500

$157.79 (-21.15%)
0.06221930 BTC (-14.30%)
0.79059400 ETH (-11.32%)
Veritaseum token is too cheap, i think it's the best time to bought some Wink

azmojo

sr. member

Activity: 476

Merit: 251

Quote from: davs on July 25, 2017, 06:21:22 PM

Reggie can you comment on new SEC report and how does it affect, if at all, VERI token?

The SEC does not regulate software.

davs

newbie

Activity: 58

Merit: 0

Reggie can you comment on new SEC report and how does it affect, if at all, VERI token?

azmojo

sr. member

Activity: 476

Merit: 251

Quote from: HODL to the moon on July 25, 2017, 05:13:30 PM

I think etherdelta is quite complicated to use. Are there any other exchanges planned in the future?

VERI plans to be on all exchanges that will accept it.

HODL to the moon

full member

Activity: 238

Merit: 100

I think etherdelta is quite complicated to use. Are there any other exchanges planned in the future?

greyswan

newbie

Activity: 42

Merit: 0

Quote from: hangthebanksters on July 25, 2017, 04:39:27 PM

Once again Dex the the Algo capitalist keeping it real in the Trading Terrordome!

https://youtu.be/Ch13quf2UsE

Gracias!
Lays it all out with epic simplicity @ 11:00+

Haddem

member

Activity: 92

Merit: 10

Quote from: hangthebanksters on July 25, 2017, 04:39:27 PM

Once again Dex the the Algo capitalist keeping it real in the Trading Terrordome!

https://youtu.be/Ch13quf2UsE

Yeah I like him. Traded for a year with him, I trust his assessment

hangthebanksters

newbie

Activity: 28

Merit: 0

Once again Dex the the Algo capitalist keeping it real in the Trading Terrordome!

https://youtu.be/Ch13quf2UsE

naaktslak5

sr. member

Activity: 492

Merit: 251

Quote from: rijktyum on July 25, 2017, 02:56:02 PM

Quote from: paulmaritz on July 25, 2017, 01:21:55 PM

Quote from: naaktslak5 on July 25, 2017, 01:17:23 PM

almost 100 pages Cheesy

Yup, we're getting there (for better or worse)! Wink

These minor corrections are so great so we can make an entry ..really good!

A lot of talk about VERITASEUM on twitter as well, as well as mentioning it.. VERITASEUM will shine

99% is about the hack.

rijktyum

newbie

Activity: 67

Merit: 0

Quote from: paulmaritz on July 25, 2017, 01:21:55 PM

Quote from: naaktslak5 on July 25, 2017, 01:17:23 PM

almost 100 pages Cheesy

Yup, we're getting there (for better or worse)! Wink

These minor corrections are so great so we can make an entry ..really good!

A lot of talk about VERITASEUM on twitter as well, as well as mentioning it.. VERITASEUM will shine

greyswan

newbie

Activity: 42

Merit: 0

>He is not . . .
>He is . . .
>He will be . . .
>he has . . .
>(He) is coming for you . . .
>Half the people who ever . . .

Striking mental effigy!
Are you fully conjugated b/c I'm missing at least the past participle?
Thanks for your help!

Topic: VERITASEUM DISCUSSION THREAD - page 92. (Read 251011 times)