๐ค๐ฐ BECOMING RICH - EP. 35. - Veritaseum ๐ฐ ๐ค
I have researched most of the solid ETH tokens and only 2 stand out:
- PPT (Populous)
- VERI (Veritaseum)
I think what people need to look for are self-sustainable financial projects that somehow involve the "big money", because that is how we can make money in my opinion.
So while many ETH tokens are interesting and have their own niche, there will only be a handful that will really get big, while the others will just tag along. Sort of like the "Dogecoins of ETH", while Dogecoin has it's own niche, it really didn't became anything serious, while ETH and other coins did grew very big.
I have identified 2 ETH tokens that are really valuable in my view, one is PPT, which I would not buy right now since it already went up a lot, it seems like it's in a bubble right now. Plus I don't know how viable the lending market is, I mean things like BTCJam are full of scammer borrowers who default on the loan the second you give it to them. And PPT is like that, it has massive counterparty risk and I don't know how they will deal with scammers who will not pay. Plus according to CoinGecko the ICO ends in 1 week, Aug 15, and we know from experience that the price usually crashes hard after the ICO.
So I would not buy PPT right now, it's a good token, but it has many issues, and a big crash is coming soon in my view.
But VERI on he other hand looks absolutely amazing. VERI just had a correction lately, so the price is super cheap right now in my view, so I think it can really go up pretty soon once the clouds go away. I mean you'd want to buy when the price is low, so I think this is the time.
Veritaseum
Veritaseum is an amazing project lead by Reggie Middleton a very friendly but also professional finance guy from Wallstreet. I think his track record speaks for itself, so his reputation alone already gives massive value to this token.
The thing I really like is that Reggie does a Q&A session on Youtube almost every week or sometimes even more a week, where he answers everyone's questions. Now this you don't see anywhere else, most project leaders hardly interact with their community, they do like a Q&A every 6 months or so, which is fine if they want to focus on their product, but Reggie outdoes himself and it looks like he is fully committed to his project and the community.
So this is a massive bonus reputation-wise to this project.
Veritaseum is basically a software project that will link up the Buy Side of financial markets ( Hedge Funds, Mutual Funds , Pension Funds, Private Equities...) with the Veritaseum platform if I understand it correctly, and the VERI token will be the fuel.
It basically saves costs to the traders and investors in this field, setting the maximum fee rate to about 5%, while also providing a stable platform for those kind of markets. This is very low fee in this sector, not to mention the safety and stability that this platform will provide is really worth the cost, so large fund managers will definitely like it.
Reggie is looking to get multiple 100,000,000$ deals / day if everything goes smoothly, so I don't have to mention what kind of effect will this have on the price of VERI. I Think he has a lot of connections in the finance world so this is nothing incredible, I think it can easily be accomplished.
It already has a market cap of 300 million $, if this happens, the market cap could even reach 300 billion $ in my view very soon.
I think this is the hottest ETH token right now, and Clif High a famous Cryptocurrency Youtuber also has huge expectations from this coin, he even interviewed Reggie recently, so check out the interview here:
VERI is hotter than than a volcano right now and an eruption could happen at any moment. So if you want to participate you can grab some VERI tokens here:
GET VERI HERE!
Disclaimer: The information provided on this page or blog post might be incorrect, inaccurate or incomplete. I am not responsible if you lose money or other valuables using the information on this page or blog post! This page or blog post is not an investment advice, just my opinion and analysis for educational or entertainment purposes.
Sources:
https://pixabay.com
Great info, I will be definitely be looking in getting me some Veri soon!
I agree on your assessments and would add SALT.
Where VERI will be a rentable proposition, SALT is as well, but more for the common man. I see VERI as a far more financially sophisticated tool as you will need to be prudent on your lending to projects. With SALT they should be quicker turnarounds, more stable collateral and simple loan issues.
That said I own PPT for the invoicing potential, VERI for the business and SALT for the masses.
When is the SALT crowdsale?
It already did, but they may be doing another round... I am writing more on it tomorrow.
https://saltlending.com/
Are you sure? The membership sale is still grayed out on the timeline.
https://steemit.com/cryptocurrency/@kyusho/salt
Yes that is true, VERI is for big guys where the big money is.
If something similar comes out for the general audience, then that will be valuable too.
Both of these tokens, as you say, are solid and have huge upsides.
I really hope that Populus works out. The cash for receivables is very important for keeping businesses afloat. And right now, those small businesses are paying loan shark like interest on loans to just carry them through.
The guy who started Populus appear to come from a background of big data investigating companies' cash flows. And so, he is not only well versed in the industry, he already has in place a way of knowing who are the real businesses and who are the scammers.
Don't underestimate the scammers. BTCJam also requires ID and all sorts of social media proof, or even proof of income and things like that ,yet scammers still get around that.
A guy who invested there in loans, said that about 90% of his loans were defaulted, so he lost a lot of money.
Scammers are getting smarter.
Here is a link to the Veritaseum FAQ
Damn fine reporting son!
It's Veri Veri cheap right now i just picked up more.... i made a video on how to purchase it in my channel .
Is PPT still in it's ICO? I agree with you and have 90% of my portfolio in PPT and Veri now. I was able to buy when it got dumped by the hackers at .55 and have bought more at .685 and will buy more today at .65 or lower. The return will be phenomenal.
I don't think keeping 90% of your portfolio in 1 asset is a good idea. THere is still risk despite the success of these projects.
Besides there are many other good projects out there like BTC, Steem, AMP, and things like that where money can be invested.
I like a more decentralized approach, I will write my future article about this.