You for one continue to hammer on the "full coin supply," failing to differentiate between that and the circulating coin supply.
There is no difference between a "full" and "circulating" supply.
If there is a potential seller of 98 million coins over the net 18 months or so, then that represents part of the 'circulating supply' at least for the purposes of marketcap calculation.
Let me guess: You didn't get in and are now trying to push the price down to get in at 0.02?
No. I hold some Veritasium and I am sitting here with dry powder on Ether Delta ready to fire some more into it, but I do my due diligence and I don't like buying grossly overvalued stuff however high it's expected to go. As such, it doesn't really matter whether coinmarketcap calculates the marketcap based on a supply of 100 million or 2 million since investors are free to value it as they see fit and if there are 98 million "new tokens" available for new institutional investors then that makes the supply 100 million from my point of view, not 2.
The reason this is important is because if I calculate it to be overvalued according to comparable assets then so too will some interesting contenders who like the idea making a few bucks out of this market, for example the Goldman Sachs, JP Morgan & Barcleys and they won't have 2 "analysts" programming their automated investment vehicles, they'll have 300.
You don't seem to understand how the institutional market works. Let's pick apart your assertions.
Large investors rarely transact through exchanges in bulk because that is ineffecient and slippage drives the price. I made three deals in the last 24 hours, one was with one of the largest stock exchanges in the Caribbean region (can't quantify the VERI value, but expect it to be big), one was with a UHNW individual (starting with a $1-$1.5M purchase), and one with a sovereign nation. There's another I'm looking to close next month that will be bigger than these three combined. Not one of them will go through the extant exchanges (as a matter of fact, two of them are for building exchnages). Not only will these transactions not drive the price of VERI down, they should drive it higher since significantly more value will go though Veritaseum systems relative to the ROW (rest of the world) than before.
Every single big block sale I make out of the 98M outstanding is extremely bullish for the existing VERI holders. It's Metcalfe's law and the network effect, my friend.
Your argument is akin to saying the Internet is overvalued because there's the potential for 100s of millions of new users to come onboard.... What!!!???