Veritaseum Price About To Crash - VERI 5:1 Ratio Won't Last Long
Reggie Middleton’s Veritaseum has passed an important milestone, being listed on CoinMarketCap.com.
Currently it has a price of $48 USD. This price is derived exclusively from the exchange EtherDelta.github.io with about $500,000 in trading volume over the last 24 hours.
Heres the thing:
The ICO just ended and of the 100 million tokens only 30million were part of the ICO. 70 million are to be reserved for institutional investors in the future.
4.8 Billion Dollar MarketCap?
The ICO generated about ~12 million USD which ended on May 26th
If we calculate the marketcap just based on 30 million circulating supply we get:
30 million x $48 = 1.4 billion USD
If we calculate the marketcap based on 100 million Veritas tokens as is on CoinMarketCap we get:
100 million tokens x $48 = 4.8 billion USD
The fact of the matter is Veritaseum is NOT WORTH 4.8 Billion or even 1.4 Billion. People just started offering Veritas at a 4:1 ratio with ETH on ONE exchange and the crazy thing is, people started buying at that rate!
Currently the ratio seems to be hovering around 5:1 still but that is going to plummet as soon as people do the math and realize the 5:1 Veritas:ETH ratio is completely subjective.
Will Veritaseum Be Worth 4.8 Billion USD One Day?
YES, and much much more…but not 2 weeks after it’s ICO! This ratio is just a made up number on one exchange that people happen to be paying for.
I Am NOT a Big Shot and 20% of 500k 24hr Volume was ME!
I bought 2300 VERI during the ICO and I was NOT a top investor by any means. I liquidated my entire position, it took about 10 hours and staying up all night until 8am this morning.
As more and more people figure out how sell their Veritaseum by using EtherDelta Exchange that 5:1 ratio is going to normalize to something more reasonable like 40:1 or about $6.5USD.
Anyway that’s my take on this whole Veritaseum mania. I will be buying back in a couple months down the road when the price has normalized. Until then I will park my crypto in the safest place possible:
/Ethan
It's always a pleasure to see someone staying cool in an overheated area, putting some smart arguments over greed. It's the same to me: I think VERI will have a bright future but I also love to buy in cheap, and sometimes it's better to wait a lil longer than to trust the hype! Cheers!
Thanks. 3 days later and it's going for 10:1 on EtherDelta. Personally I think it will plummet to 100:1 to ETH but we will see.
So your guess is that a fair price for VERI is roundabout 3-4 bucks - if ETH doesn't meanwhile skyrocket due to a possible stock-/bondmarket crash!? What is your thought on the fact that so many coins are reserved for institutional investors? THNX for sharing your knowledge!
I approached Veritaseum as a short-term speculator. I was planning on getting in and out quickly with as much profit as possible. I think the ICO was done fairly well. Those 70 million tokens are gonna go fast once the debt markets start coming undone.
Clif High states that will probably happen this summer.
My point of this article was that the 4:1 price was completely subjective because someone just posted that as the price and people believed it. They didn't look at the volume's being traded just the price. Now more and more people are coming to the realization that VERI isn't worth as much as it's going for so they are trying to get out. That's SHORT TERM
LONGTERM Veritaseum is gonna be huge as it could replace capital markets altogether.
I' ve read your article where you described your short term speculation - quick in/quick out by maximizing gains! I appreciate Clif a lot; do you recommend his ALTA reports, because I would like to buy them but I don't know what to do after I've paid the report in ETH. There is no email listed on his homepage and I don't know what he means with after purchasing emailing "to moon"?
He means after you send payment via BTC email: [email protected]
The report is 100% for speculators only. Honestly I would wait until the next one comes out in 2 weeks.
Right now I have 80% of my Crypto parked in BTC waiting until July.
Up to you of course. It's still a great report.
Thanks for helping me!
I'm in cryptos now for nearly one year and try to improve as much as I can, because I think the best investment in life is to educate oneself in as many different genres as you can - every single experience helps us to become who we really are.
Cryptos and its disruptive nature has taken my heart by storm, because I'm sick getting screwed by suits! Cheers!
ive sold some yesterday for 8:1 i think its found a bottom
How does this comment make sense given that VERI has hovered at around 0.300 ETH to VERI for several weeks. If VERI were overpriced on EtherDelta, the volume of approximately $1,000,000 per day would eventually begin to show a fair market value. Not every participant on EtherDelta related to VERI is without knowledge.
SETLcoin by Goldman Sachs will kill veritaseum. Reggie has now moved away from his original idea and says veritaseum can do everything.
well I bet you feel pretty foolish today for not doing your sums correctly. 2300 VERI coins that you had would be worth over $400k now.
ethan, can i download my ether wallet to chrome. with chrome extensio. can i still get veritaseum?
How to you reconcile your 30 million with coinmarketcaps 1.8 million ?
Latest news on Veritaseum by Reggie Middleton
https://steemit.com/cryptocurrency/@getitfrommike/new-veritaseum-video-by-reggie-middleton-7-15-2017
Will VERITASEUM get to PARITY 1:1 RATIO with ETHEREUM today?
https://steemit.com/cryptocurrencyveritaseum/@getitfrommike/will-veritaseum-get-to-parity-1-1-ratio-with-ethereum-today
Word of the Day...VERITIZE!
Veritize... Peer-2-Peer Capital Markets, Insurance, Precious metals, Media & Broadcasting, Real Estate, Technology, Utilities, EVERYTHING!
Veritaseum is the #1 Asset in the industry! Spread the NETWORK EFFECT.
Veritaseum to SOLVE balance sheet problems for sovereign nations. New Reggie Middleton Video.
https://www.Veritaseum.com
Good points in this blog. I fully understand what you're talking about. The current total market cap of all cryptos might seem high but blockchain is here to stay and will involve all our lives. I do see a bright future for everyone that's hold's their coins with a long term vision. An interesting website I found: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. On: https://www.coincheckup.com/coins/Veritaseum#analysis To watch Veritaseum Research report.