New to Veritaseum and thinking about making a splash. Question, Why is the circulating supply of this token less than 2 million? I understand Veritaseum owns 51mil of the 100mil total supply, but what's the deal with the other ~47mil VERI tokens?
Seriously, you want to invest in a coin with 98% of the supply artificially restricted or owned by the devs or unaccounted for?
There are plenty of legit coins around. Do your research and stay away from this shitcoin.
LOL, So far 34 million have been sold OTC to private businesses/ Institutions and or governments. These software tokens are for use in the Veritaseum platform and not dumped on exchanges
Although I don't make any judgment over the ICO policy in general, ngin-x is at least correct in one principle.
These are not stocks - where some trusted entity "issues" the new stock. They are decentralised assets and the issuer is the blockchain. In that respect, Reggie Middleton is no different in status from any other wallet holder - he just happens to hold the largest wallet. Further, the conventional definition of "circulating supply" for decentralised assets is what the blockchain has issued, not what the largest holder manages to sell out of their particular wallet.
Even if we were to stretch the definition of "marketcap" just to suit this one asset and redefine "circulating supply" as that which is being made available to markets, the ~1.9 Million ICO tokens are probably less qualified than the 98 Million in RM's wallet since that's the part of the supply being actively marketed to OTC customers such as banks and sovereigns while the proportion of traded volume involving the minority reported supply is miniscule.
The correctly calculated marketcap for Veritasium is therefore currently as shown below:
based on...
As Reggie previously posted in response to your assertions:
"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!!!???"