Hackers made off with 10.000 Veri this morning and are dumping them on EtherDelta at the moment. The price has dropped 43.5 % so far as they unload them at less than half their value earlier today, Its gone from AU $286 to $166 so far and still dropping. Great buying opportunity! https://bitcointalk.org/index.php?topic=1887061.1880
It's also gone up from $160 to $290 over the past 7 days. i see nothing strange happening over at EtherDelta. As the price of VERI went up a lot (based on nothing), makes sense that people want to take profits. This is the reality of very small volume markets, price move up and down erratically.
Scroll down the veri eth trades, it was down lower than .5 a half hour ago with 2700 veri set for sell at that level. Must of got gobbled up. Also take a look at the chat box.
All over in an hr or so. https://etherscan.io/address/0xd82557a3a76341390bdadd6bf5012f88219d94ca#tokentxns
I am not that familiar with EthDelta, but my understanding it is a decentralised exchange means you should actually be able to see the address of the sellers. I've been on BitShares DEX the last few days and all the order book is effectively transparent because trades are occurring on the blockchain. Is there a viewer/explorer for EthDelta that shows the addresses behind the order book? If so you'd be able to link the hackers addresses to the ones who were selling to confirm whats gone on. For BitShares DEX you can see an example of the transparent order book here :- http://cryptofresh.com/a/USD
BTW - It was a good shout-out about something big going on. Much appreciated. If I was better researched about Veritaseum and EthDelta I may well have been all over it. But just too risky for me to jump in without knowing the lay of the land. Two more things on my TODO list right there
here you go. btw i used Firefox and didn't need to install any plugins as some people said. It takes a bit to get use to, but no more complicated then say Poloniex. Just make a cup of coffee when doing it as it a very slow exchange. As for Veritaseum it's self, he has nothing to show atm, so it all depends if you trust what Reggie says. I for one don't trust him, so already sold out.
You can get all the trades as they happen but they only last for a small while, these are a couple of the wallets used and you can see the deposit's into ED and then the move to the trade platform and then the transfers out of the ETH they got. https://etherscan.io/address/0xd82557a3a76341390bdadd6bf5012f88219d94ca#tokentxns https://etherscan.io/address/0xb5e187d83441ceb01d5019315d435633b9881565#tokentxns
Can someone explain to me what VERI has to offer? I seriously can't wrap my head around why people want to buy this coin, other than it's fronted by Reggie. Also hate the fact that you have to get it on EtherDelta, which is proving to be the exchange where alot of stolen/hacked tokens are being sold (re: Pillar tokens).
He wants to build a blockchain version of a stockbroker. But unlike a stockbroker that gives you free advice on what to buy and then charges you commission, he wants to sell you the advice/research (using Veri) and then there is no commission. The contract will lay on the blockchain, so you don't deal with anyone. Atm he has no working software, so you have to just trust him/they are developing one. But the bigger IF is even if he does build the software, he will still need premission from the stock exchange in order to trade on any exchange. Atm all he claims is the Jamaican stock exchange are considering letting him test his software there. But I think it's safe to say any big stock exchange will never give him the OK.
Well first off it's not a Coin exactly, more a software Brokerage package based upon Blockchain technology that allows people to trade anything of value be it financing, stock's, any sort of Business transaction where someone is trading or purchasing something of value from somebody else. So as well as being able to trade the tokens themselves you can write smartcontracts to handle basically any sort of "deal" for want of a better word aimed specifically at Business/Financial sector and cut out all the multiple layers of crap you normally have to swim through to get from point A to B in such transactions.
Except there is already existing precedent now and if it works then why not ? http://www.zerohedge.com/news/2017-...-law-legalizing-blockchain-based-stock-trades http://delawarebusinessnow.com/2017/07/delaware-board-trade-opens-enters-agreement-exchange-group/ And once the first Domino tumbles it often becomes a case of catch up for everybody else disadvantaged by not being the first mover.
LOL, Again putting text in my post Leo ? I never said you did so far as I can recall. But if Jamaica uses Reggies/Veri will you admit you are wrong ? What I was saying was, As there is already a precedent for Blockchain to be used to trade stocks, 'If' Reggies/Veri works ? Why wouldn't they allow it to be used, just as they are allowing other Blockchain technology's to be used in the US state of Delaware ?. And it was in response to... A major player like Delaware with more than half of U.S traded Company's and over 64% of Fortune 500 listed company's incorporated there has just O.K'd the trading of Stock's on the Blockchain. Q1 Can you explain why, If Veritaseum comes up with a working product why it is safe to say that any big stock exchange will never give him the O.K ? And here's the next question, if it is already legal for stock's to be traded on the Blockchan, Why would Veri need permission to do so in Delaware ? Edited just to be clear: Why would a traditional stock exchange, a direct competitor with a disruptive technology like blockchain have to allow Veri to operate when it is already legal to do so ? It's a bit like Taxi's having to give Uber permission to operate rather than the Transport department when the Gov't have already allowed it via a change in law.
Could of bought Veri for about AU$150 or a tad lower with it dropping to $138 at times earlier today, it is now back to around $252 per unit and still selling back up at the moment. Not a bad 12 hr 45% ROI if you ask me, but then there is the moral dilemma of buying from thieves compounded by the overlying dilemma of this is what the blockchain is all about. Did the initial buyers know they were buying from a thief ? No, I doubt it as many set buy's were met on ED as the dump happened at higher levels than the low and they would of been choofed to see it happen, only to have buyers remorse that they didn't set their buys lower (always take a spread). I could of got in at the lowest as I saw it unfolding and already have a couple of ED accounts, know how to speed up an ETH deposit with gas payments in my wallets and transfer from the holding wallet on ED to the trading wallet, make a buy order and then transfer out of the trading wallet to my own quite quickly. Mind you that took me quite a while to sort out with much much frustration really, and it is prick of a platform to use despite using many of them. ( If anyone needs a hand just PM me.) But am I stupid for not taking advantage of the situation or stupid for standing by my convictions to not support such practices ? I will take Stupid in either case as even at the low of today I was already up over 100% and now climbing again and I refuse to support such actions by those smart enough to exploit flaws in a new system such as this. For those who already had buys in place at the time I have no ill will at all, for those who jumped in on top though I wont judge them either as they are now sitting on a hefty smart profit, but they shouldn't ever whinge if it ever happens to them, as the very same people who sold you your extra extra cheap tokens are probably the very same type of people who will steal from you as well. If the community as a whole was alerted earlier and was aware of what had happened, had all pulled their buys ( as Veri was only listed on the single exchange) White hats could of stranded all of the Veri stolen in a couple of hours (outside of the hit 'pre' existing orders). Then again it is the Wild Wild West out there now and shit happens huh.
Same reason bitcoin won't integrate into the banks, they would rather create their own version like Ripple. It's a small tight club in the financial world and they own the regulators. They don't like other people taking a cut of their pie. If VERI runs the on Jamaica exchange i won't say I'm wrong as it's a joke. If VERI runs on any large developed countries exchange then i will happily say I'm wrong. And if it doesn't run on any major exchange then I'm correct. Lets let time tell what happens. Reggie is not trying to compete against the exchange atm, just the broker firms/ hedge funds etc.. So just like he needs permission from little Jamaica before using their exchange, he will definitely need permission from the big ones. So Reggies will need access to the exchange in order to buy the stocks, unless he sets up an agreement with every company in the world to switch to smart contracts. That's how it is atm. Now maybe in say 10 years time all companies will issues digital smart contracts instead of the current stocks. But that won't make VERI worth any more. VERI will only be valuable if Reggies team can out perform other brokers or hedge funds, so everyone will want to buy VERI in order to get a better return. Until that happens he is limited to trading just crypto's and has no access to the bigger world.
Ultimately i don't really understand how it's all going to work and from the sounds of Reggie's videos neither does he. All I'm saying is if you believe he is legit (and that may be the case), it's not as simple as a lot of people think and you can't just bypass regulators. It's a rigged system and as long as you want to continue playing the game you have to play by their rules. And crypto's are still very much within their game, that's why you have to disclose a stupid amount of info just to get money in and out of any crypto exchange.
