Tuesday, 25 April 2017

A Analysis

Getting Started Down the Road to Purchasing the Keys to the Peer-to-Peer Capital Markets

Veritas sale date: 9:30 am, April 25th, 2017

This Veritas Offering Summary is available for download and sharing with live links. A step-by-step guide to purchasing Veritas can be downloaded here.

The Veritaseum token offering - Veritas - is now available for sale (as of today, 9:30 am, eastern standard time - 4/25/2017). If you are already familiar with Veritaseum and our tokens offering, you can proceed directly to our purchase instructions (by downloading purchasing our tokens, you assent to our Term and Conditions and Purchase Agreement). Click here to proceed to the Veritas 2017 Token Purchase: Step-by-Step Tutorial

For those who prefer a quick primer on Veritas, please proceed to the Veritas Informational Tear Sheet with live links to a plethora of information. 

A long form, interactive presentation can be found  here in the form of a virtual roadshow - Informational Presentation. To get the most out of such a dense offering, be sure to make use of the interactive table of contents on the 2nd slide, and please click through all of the videos, links to download the various documents and take your time to read and understand what Veritas is and is not, and what Veritaseum is and plans to be.

A last minute Q&A and AMA (ask me anything) video on the Veritas sale can be found here

Veritas Deal Sheet

An Executive Summary

Informational PresentationTo get the most out of such a dense offering, be sure to make use of the interactive table of contents on the 2nd slide, and please click through all of the videos, links to download the various documents and take your time to read and understand what Veritas is and is not, and what Veritaseum is and plans to be.

Veritas Product Purchase Agreement

Terms & Conditions of the Veritaseum 2017 Veritas Sale

Veritas 2017 ICO Purchase: Step-by-Step Tutorial: How to get started on April 25th, 2017

This is the Veritas Crowdsale landing page where you will find instructions for buying the Veritas ICO, to be launched at the US markets open - April 25. 2017, 9:30 am, EST. Below, please find a cornucopia of informational videos and presentations to bring you up to speed on Veritas, Veritaseum and our future prospects and plans. This is a very.... unique offering.

Come back here on the 25th of April for more information and the links necessary to access  our crowdsale and initial coin offering smart contracts, be ready to get started! In the meantime, come and find out why we're so excited about this... transformation of capital markets...

 

 Ve value flow chart small

 If you haven't heard, we're giving out free, fully smart contracts as a 5% rebate to anyone who purchases any of our research packages above the introductory novice $50 level. This is not your Daddy's rebate! The rebate actually gets larger as DB goes down in price. For those who may be coming late to the party, we can offer a 5x long gold (or even a long gold, short DB) smart contract rebate as well. Of course, the bulk of our research targets banks and entities other than DB, but I thought we'd make DB the subject of the rebate to drive the point home. Below is an actual contract crafted off of the price of a single share of DB for about 2 weeks.

Veritaseum 5x Short DB Smart Contract

Click here to explore and subscribe to our research. You will have to be willing to fully identify yourself and comply to the terms or our program (in essence, promise not to use the package for anything other than our rebate) in order to qualify for the rebate. Once the subsciption is paid for, email us to get started.

Oh yeah, if you haven't heard...

An Analysis of Deutsche Bank's Likely Recapitalization - German Tax Payer Bailout or German Bank Depositor Bail-in?

Deutsche Bank is going to need some money, and it's going to need some quite soon. The next two or three articles that I write will focus on why there is such a need. In a concerted effort to reduce or potentially eliminated the risk of taxpayer-funded bail-outs of European banks, the EU implemented a new “bail-in” regime beginning on January 1, 2016. As such, rules which require banks and certain systemically significant market participants in EU member states will have to write-down, cancel, convert into equity or otherwise modify certain unsecured liabilities if such steps are required to recapitalize the institution. What is the most bountiful unsecured liabilities of a bank? Read more...

 

Our next article will continue to hammer home the liklhood that DB will have to recapitalize, and where they probably WONT'T be getting the money from, as well as the likelihood it will come from someone who really didn't plan on giving it up (Ahem, depositors/savers/checking account holders). For those who are not yet convinced, peruse these related items...

The research and knowledge subscription module "European Bank Contagion Assessment, Forensic Analysis & Valuation" contains a full report of a very large European Deutsche Bank counterparty that faces a full 27% downside from current levels. It appears as if no one suspects a clue. It also contains much, much more (including at least 3 to 5 suspect banks). We can break this apart a la carte, if requested.

As excerpted:

Susceptible Bank 1: Financial Modeling

 

The Exponential Finance symposium has just ended, and although I didn't attend, Blythe Masters apparently had the hardest hitting presentation. For those who don't know, up until last year she was number two
or three at JP Morgan and is the creator of the credit default swap (CDS). She is now the CEO of a Digital Assets (a Bitcoin technology company). Two quotes, a) "you were the most powerful woman on Wall Street", b) "How Serious should you take this? About as serious as you should have taken the Internet in the early 1990s!"

She is accompanies by many others who are pouring money into this space:

The pop media is now circling with '"b"itcoin is dead' commentary, prompting me to state yet again, that the value proposition that the "B"itcoin technology represents is grossly misunderstood, if it is even captured by the pop media at all. Remember, Bitcoin with an uppercase "B" is the blockchain, the transport mechanism, the scripting language and the decentralized, distributed trust consensus ecosystem upon which my startup is focused to build solutions upon. "b"itcoin with a lower case "b" is a digital currency and oft times digital payments app, simply early applications (and the most rudimentary ones) in the early portion of this paradigm shifting ecosystem.  

As a matter of fact, the drastic drop in the price of bitcoin serves to highlight the true value of those utilizing the technology behind bitcoin - the blockchain. The drastic drop (or pop) in prices does nothing to alter the business models of these companies. The value proposition lies in the blockchain and programmability, not in the price of individual currencies within a digital currency app - yes, bitcoin as a payment system or speculative currency is an app within an ecosystem, not the ecosystem itself. Until one is able to grasp this concept one will simply be chasing the erratic prices swings of a single cog within a complicated machine up and down - all the while missing the opportunities within.

To proclaim the death of bitcoin due to a drop in the price of components of one of its apps is akin to proclaimng the death of the Internet due to the drop in the price of AOL stock. Yes, it does sound assinine, but that's what the media is proclaiming.

A tightly related, yet tangential story can be used to prove my point (for those that are not familiar with UltraCoin, it is a blockchain-powered Global Macro trading app that allows anybody, anywhere to trade almost anything with any amount of money on a counterparty/credit risk-free basis). WSJ reports: Macro Horizons: Shock Swiss Policy Turn Alters Equation for Other Central Banks:

WRAPThe Swiss National Bank rocked European markets in early trade by abandoning its euro floor. Unable to resist the pressure of euro devaluation against the dollar, and with more likely to come as the European Central Bank prepares to launch quantitative easing, the SNB faced catastrophic losses on its mounting holdings of the eurozone currency if forced to abandon the one-sided peg sometime further down the line. The immediate significance is for people elsewhere in Europe who hold Swiss franc-denominated mortgages, to Swiss corporations which find themselves suddenly 20% or so less competitive against eurozone rivals and to leveraged investors betting that the SNB would hold fast forever. More generally, it reminds people that central banks aren’t invincible. Ultimately, their efforts and intent can be defeated by even stronger market forces and by having to weigh difficult political judgments. Ironically, one of the outside effects over which they have no control are the actions of their counterparts in other countries – which is what the SNB’s will do to others. Poland’s central bank now has a whole new game plan to think about in a meeting Thursday whose decision is due shortly. And a string of earlier central bank decisions in Asia, including a surprise rate cut by India, now have a different meaning for their currencies because the Swiss central bank has just put the franc back into the mix as one of the globe’s safe havens.  (AM, MC) 

SWITZERLAND: Switzerland’s central bank abruptly ended its policy of maintaining a minimum exchange rate of 1.20 Swiss francs to the euro, while at the same time cutting its key interest rate to a negative 0.75% from 0.5%. The Swiss National Bank also said that it was moving the target range for three month Libor to between -1.25% and -0.25% from the current range of between -0.75% and 0.25%.

In what must be one of the most currency market-shattering announcements made by a central bank in recent memory, the SNB ripped the ground out from anyone with an interest in the Swiss franc-euro exchange rate. At one point the euro collapsed to 0.86 against the Swiss franc, from 1.20 immediately before the announcement – a 28% move. That must stand as one of the most dramatic developed market currency moves ever. The SNB justified the move by saying that the 1.20 ceiling had been put in place at a time of serious Swiss franc overvaluation and that while the franc continues to be expensive, it is no longer quite at such an extreme – in part thanks to the dollar’s recent surge. We await fallout among investors holding Swiss equities and macro hedge funds who had taken the 1.20 level to be sacrosanct. (AM)

On that note, notice the trade on this 100% bitocin blockchain powered application. We are going long the Swiss Franc (betting that its spike against the euro will continue past the news event this morning (NYC time) due to its floor decoupling/unpegging from the lagging euro and short the leverlaged oil ETF which had a deadcat bounce up over 7% for the night, where we're assuming it will continue its drop. This is all done in one trade, and this is the power of the bitcoin blockchain. Forget the price of the widgets of that one blockchain app and open your mind to the future of distributed decision making.

Long Swiss Franc short leveraged oil trade via Veritaseums Blockchain powered Global Macro Trading App

For the more adventurous, here's a long CHF short EUR and GBP trade.

Long CHF short EUR and GBP via UltraCoin

On October 17th I penned Reggie Middleton's Open Letter of Commoditization and Disintermediation to Wall Street: Pay Attention Jamie Dimon! Here's an excerpt from the intro of a letter written to the CEO iof a bulge bracket bank included in said missive:

...this is my more fleshed out missive detailing what I see as the inevitable commoditization of your industry. Wall Street in general (and XXXXXXXXXXX in particular) is about to become “MP3’d” (disintermediated), just as the music industry did along its 75% slide in revenues over a 10 year period. Our goal is, in no uncertain terms, to expedite this disintermediation. In essence, our job is to cleave at least 75% of the revenues off of Wall Street banks!

Hopefully, I’ve gotten your attention. Let’s discuss the opportunity - and the threat - to XXXXXXXXXXX in more detail as I present a clearly laid out roadmap to either your firm’s relative failure, or resounding success.

 

The Challenge to Wall Street and XXXXXXXXXXX

“In the next 10-20 years, 58% of financial advisors will be replaced by software robots and AI.”Frey and Osborne, Oxford University

This is not grandiloquence. We can show our venture alone cutting over 3-4% off of XXXXXXXXXXX’s non-interest revenues and up to 30% of net income attributable to common within 8 to 12 quarters of gaining traction. This is accomplished by removing your pricing power in your most lucrative businesses – transactions, fees and commissions.

In Banking Risk, Reward and Demise - The Age of Programmable Currencies, I posted a most telling graphic...

This drop in revenues and profitability is extreme when viewed today. The effect of "robots" (cloud based streaming services powered by algorithms [robots]) as reported by Wired Magazine today, and as excerpted [emphasis added]:

Consider the fact that it takes roughly one million spins on Pandora for a songwriter to earn just $90. Avicii’s release “Wake Me Up!” that I co-wrote and sing, for example, was the most streamed song in Spotify history and the 13th most played song on Pandora since its release in 2013, with more than 168 million streams in the US. And yet, that yielded only $12,359 in Pandora domestic royalties— which were then split among three songwriters and our publishers. In return for co-writing a major hit song, I’ve earned less than $4,000 domestically from the largest digital music service.

The streaming services and their cloud based "robots" are hurting more than just songrwriters. Record companies are forced to see that graphic above, which was exacerbated by streaming services as they usurped control from MP3 download services that started the decline, which was exacerbated by the iTunes business model. Now, even iTunes is facing the heat from streaming services as its margins and revenues are pressured, forcing them to by the Beats music streaming service (along with the headphone/hardware operation for a gross $3.2B).

Veritaseum's UltraCoin is a potent brew consisting of a combination of:

  1. the ULTIMATE CLOUD - the BLOCKCHAIN;
  2. the ULTIMATE ROBOTS - Scripted money and "SMART CONTRACTS"
  3. and the same peer to peer technology that precipitated the fall of the record industry - ALL WRAPPED UP IN ONE PRODUCT AIMED AT WALL STREET!!! 

The letter to that bulge bracket bank CEO referenced at the beginning of this post ended like this:

One simply cannot stuff the technology genie back into the bottle. Even before critical mass in adoption is achieved, the bulge bracket banks (XXXXXXXXXXX included) will witness a structural decline in margins. Despite this margin compression, there will be a small contingent of banks who will emerge as winners because they will cannibalize the revenues of their competitors adopting and embracing the forces behind this paradigm shift. Doing this will require not only sufficient vision, dexterity and entrepreneurial expertise (the type seldom found in multi-billion dollar global institutions), but exceptional execution to be among the first movers. Money center banks can try to figure this out on their own (good luck being entrepreneurial and first movers), or they can team up with us.

We are a startup, and we’re the first movers! To maintain our advantage, and to gain traction quickly, we’re soliciting established distribution partners. Teaming with us can essentially be boiled down to whether you are the disintermediators - or the disintermediated!

Our Advantage

UltraCoin provides, with full transparency, universal access to any publicly traded financial instrument, on any exchange, at a fraction of the cost of bulge bracket and even many deep discount brokers.

Our patent-pending (we are confident that we’re the first to file, meaning the rest of the Street must come in behind us) products provide access to over 75,000 tickers in all major asset classes from exchanges and bourses from around the world in an innumerable combination of pairs and combinations – not merely just the traditional, binary, long and short. This is not an idea, or mere concept, or whitepaper. This is a tangible product that is available right now and already making significant waves in money center bank circles (download here). Below is a screenshot of my active wallet on my tablet as I type this. 

clip_image002.jpg

How do we get started? 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

I offer you in gift wrapped packaging - the “first mover advantage”!

The following is a reacted letter that I just sent to a rather influential person in one of the bulge bracket banks of Wall Street.  I decided to simply be frank and tell it like it is. AFter all, why play games or beat around the bush. It is what it is, right?

 

(Name redacted for the sake of privacy and professional courtesy), this is my more fleshed out missive detailing what I see as the inevitable commoditization of your industry. Wall Street in general (and XXXXXXXXXXX in particular) is about to become “MP3’d” (disintermediated), just as the music industry did along its 75% slide in revenues over a 10 year period. Our goal is, in no uncertain terms, to expedite this disintermediation. In essence, our job is to cleave at least 75% of the revenues off of Wall Street banks!

Hopefully, I’ve gotten your attention. Let’s discuss the opportunity - and the threat - to XXXXXXXXXXX in more detail as I present a clearly laid out roadmap to either your firm’s relative failure, or resounding success.

 

The Challenge to Wall Street and XXXXXXXXXXX

 

“In the next 10-20 years, 58% of financial advisors will be replaced by software robots and AI.”Frey and Osborne, Oxford University

This is notgrandiloquence. We can show our venture alone cutting over 3-4% off of XXXXXXXXXXX’s non-interest revenues and up to 30% of net income attributable to common within 8 to 12 quarters of gaining traction. This is accomplished by removing your pricing power in your most lucrative businesses – transactions, fees and commissions.

Drilling Down On XXXXXXXXXXX’s Unique and Particular Vulnerabilities - or-  Why You Should Be Paying Attention

XXXXXXXXXXX derives more than 95% of its total revenues from non-interest earning transactions/businesses. This comprises revenues from Investment Banking, Asset Management & Investment, Brokerage Commissions & Fees. Let’s analyze the percentage of business that could be impacted the year after traction of our value transaction system by assuming a certain percentage reduction in fees. We have assessed the potential impact on the bank’s annual revenues and profitability as follows:

  1. XXXXXXXXXXX could see around 3-4% decline in its non-interest income. The bank’s net interest could fall by 7-8% off compression in its net interest margin.

  2. Now, the firm could very well see lower expenses on account of compensation benefits for employees (due to decrease in variable pay, reference the “58% of financial advisors will be replaced” quote above from Oxford), however, this impact is not going to be significant enough to offset the likely decline in revenues. On a more personal level and more to the point, it represents a ~58% chance of you getting fired. The compensation heavy Wall Street culture is ill fitted to battle the disruptors we are bringing to bear during a major technology paradigm shift!

  3. Net Income could drop by a significant percentage ~ 30%.

Who We Are and What We Are Doing

Our core product, UltraCoin, is at the intersection of the Bitcoin protocol software, robotics, and financial services. It is already recognized as a driving factor in the full scale disintermediation of Wall Street:

“The disintermediation caused by Middleton’s UltraCoin has the potential to disrupt the brokerage industry.” AlleyWatch

“… a direct threat to fiat merchant banking.” Fortune

“… the perfect storm of disruption, as it renders trading fees, brokerage fees, and those infamous Wall Street bonuses obsolete. The sheer scale of disruption this technology brings with it makes it something to watch.” The Hash Report

 

The Bitcoin blockchain threatens to dramatically reduce the ability of financial services companies to charge for transactions - all transactions. We have, through our UltraCoin wallet,  enabled synthetic versions of nearly all of the financial assets XXXXXXXXXXX deals with, and enabled them to be traded peer to peer (meaning without an exchange or broker) via the blockchain. These new age tools look very similar to what XXXXXXXXXXX currently sells to its clientele at a significant, and now, ephemeral premium. Our stuff looks no different from your stuff, yet is dramatically cheaper, more flexible and more capable. As a result of being blockchain-based, we’ve also reduced the default/counterparty/credit risk to effectively zero.

 

XXXXXXXXXXX’s Opportunity - a partnership where you benefit from our rapid development tech and we benefit from your distribution network

Let’s be frank and upfront. The banking hegemony as we know it is about to undergo a dramatic, disruptive structural change. Pretending you are immune simply guarantees you to be the one stepped on in lieu of the one doing the stepping. The same is true in taking too long to act, or acting by moving in the wrong direction. I referenced the record industry and MP3s as a prime example. The assertion that regulation will protect banks from technology where it didn’t for the record industry is a straw man’s argument, at best. Try as they may, at the end of the day - regulators cannot, should not, and probably don’t even want to regulate software and prototcols. It’s a new day and age.

One simply cannot stuff the technology genie back into the bottle. Even before critical mass in adoption is achieved, the bulge bracket banks (XXXXXXXXXXX included) will witness a structural decline in margins. Despite this margin compression, there will be a small contingent of banks who will emerge as winners because they will cannibalize the revenues of their competitors adopting and embracing the forces behind this paradigm shift. Doing this will require not only sufficient vision, dexterity and entrepreneurial expertise (the type seldom found in multi-billion dollar global institutions), but exceptional execution to be among the first movers. Money center banks can try to figure this out on their own (good luck being entrepreneurial and first movers), or they can team up with us.

We are a startup, and we’re the first movers! To maintain our advantage, and to gain traction quickly, we’re soliciting established distribution partners. Teaming with us can essentially be boiled down to whether you are the disintermediators - or the disintermediated!

 

Our Advantage

UltraCoin provides, with full transparency, universal access to any publicly traded financial instrument, on any exchange, at a fraction of the cost of bulge bracket and even many deep discount brokers.

 

Our patent-pending (we are confident that we’re the first to file, meaning the rest of the Street must come in behind us) products provide access to over 75,000 tickers in all major asset classes from exchanges and bourses from around the world in an innumerable combination of pairs and combinations – not merely just the traditional, binary, long and short. This is not an idea, or mere concept, or whitepaper. This is a tangible product that is available right now and already making significant waves in money center bank circles (download here). Below is a screenshot of my active wallet on my tablet as I type this. 

clip_image002.jpg

How do we get started? 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

I offer you in gift wrapped packaging - the “first mover advantage”!

My Twitter Updates

From TweetDeck
ReggieMiddleton @malimujo @RFVenter Let;s take this discussion offline where it si more appropriate. Email me. reggie AT https://t.co/ogD5CncNZ2
Less than a minute ago
From TweetDeck
ReggieMiddleton @malimujo @RFVenter My fault for allowing confusion between EST & EDT times (laypersons consider NY to be EST, as I… https://t.co/XtRCmO0X2h
Less than a minute ago
From TweetDeck
ReggieMiddleton @malimujo @RFVenter Takei t easy. Riaan is on our team, he is in the team docs. The address to use is in the tutori… https://t.co/KbAbQHhj5G
Less than a minute ago
From TweetDeck
ReggieMiddleton @bemky The start time is 9:30 EST, that is 43 minutes from now. That is the cause of the error.
Less than a minute ago
From TweetDeck
ReggieMiddleton @malimujo The contract is actually set for 9:30 EST, which is technically 50 minutes from now.
Less than a minute ago

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Veritaseum

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