Reggie is not going to act in an irresponsible manner
No. But he can't prevent the market from acting in an "irresponsible manner".
Lets think about this for a moment. That effective supply puts Veritasium's "real" marketcap at around 3.7 Million BTC. (Ripple is 4.1 Million). i.e. nearly a
quarter of bitcoin's entire coin supply. So it would be the third or fourth largest asset in ranking on coinmarketcap.com.
Not saying that's necessarily unreasonable in terms of future potential (i.e. speculative) but for such a large valuation to have some genuine basis it must make the monetary cryptos massively undervalued (since they are going to form much of the lower capitalisation tiers of the coming synthetic 'vehicles' that will be traded on the VERI platform) - which in turn makes the current VERI/Ether or BTC price massively overvalued does it not ?
What should happen now is that VERI moves up a few notches in marketcap ranking - but with the full coin supply reported. So lets say it went to where Bitshares is (an equivalent type of asset but a mature platform so being kind to Veritasium by letting it get that far in only 30 days after launch instead of taking 3 years and needing to actually deliver some functioning software that's hosting trades like Bitshares has done).
That would put the VERI marketcap at around quarter of a million BTC. Coin exchange rate with Ether would therefore be around 0.02. i.e. 50 Veri per Ether.
Current price: 0.32.
16 times overvalued ?
How you wish to value tokens is up to you but you say that Veritaseum needs to actually deliver some functioning software which makes it seem that you are unaware of the software that we have put out. We have a working peer-2-peer client that allow for users to mimic exposure to thousands of tickers and was hosting trades. It was taken down from public use because we did not want to get a letter from any regulators. We have also created an alpha version of our VeADIR which is functioning but still in the making.