Veritaseum (VERI)
A token, which has recently entered the Top 20, is Veritaseum.
Since it was listed on different exchanges at the beginning of June, the asset has nevertheless shown a quadrupling of the value. Between April and May an ICO ran, with approximately two out of a total of one hundred million VERI distributed to investors.
Capital markets without middlemen
The goal of Veritaseum is to be a platform for peer to peer capital markets on which ultimately everything can be traded. According to the information on the website, the project is already developing a platform that enables non-technicians to quickly create smartcontracts. In various places on the website is referred to patents, with which the technology is to be secured - for which however no clue was found.
Revolution or Scam?
Veritaseum is an asset that gives reason for criticism: It is skeptical that an ICO was made without a real whitepaper, that the website has a rather chaotic design and that the actual developer behind the Coin has not yet a reputation in the cryptosphere. This impression is strengthened rather than weakened by a very generic smart contract, which is the basis for the token sale.
But the high market capital is also a bit strange: the token is traded primarily on EtherDelta - a decentralized exchange on Ethereum, which has a trading volume of 2 million US dollars a day.
What do you think of VERI? Scam or not?
http://veritas.veritaseum.com/
https://blog.veritaseum.com/
https://twitter.com/veritaseuminc
https://bitcointalk.org/index.php?topic=1887061.0
If you look at the valuation of Veritaseum, it's preposterous. Everything from the crappy website, to the weak code examples, to the missing whitepaper, to the missing development plan, to the missing experienced team, to the horrible video explanations, to Reggie Middleton's lack of real banking experience (he worked a couple years at Prudential insurance and that's it other than his CNBC award), to the trading on a tiny, highly controllable exchange.. it all screams that this coin is so unbelievably overvalued that it's almost insane. The only thing that is keeping this coin up and alive in my view is the Church of Cliff High. No one else other than religiously adherent followers would continue to hold this coin at these crazy prices based just upon the market reports Reggie provides and his dream of disintermediating the financial exchanges. Cliff High has made a self-fulfilling prophecy out of Reggie's Veritaseum coin based upon no legitimate reasoning to this point
White paper schmite paper. Watch those dollars pass right by ya. Reg is actually bringing results.
Reggie had working 'proof of concept' software when Bitcoin was doing its 2013 hype cycles. He has been working on this for quite some time already, also seeking investors for the concept of trading / exchanges going digital. Perhaps he was a bit early but to me this is way different than the sale of tokens without even a working software product available (the new norm). Having said this, every coin sale requires some trust that the parties behind the issuing will not run away with the money. In this respect, Reggie has his name to lose. I do not think he is interested in letting that happen.
I normally do not trust coins without the whitepapers and without a good and known team behind it.