Analysis
Veritas 2017 Crowdsale Step-by-Step Instructions
Very Important Note: By continuing past this point and purchasing Veritas tokens, you are hereby acknowledging that you have read, understood and accepted both the Veritas Product Purchase Agreementand theTerms & Conditions of the Veritaseum 2017 Veritas Sale..
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Veritaseum Token Tutorial
Veritaseum is moving it's P2P Capital Markets platform to Ethereum. In order to use anything on the Ethereum network a person needs to have an Ethereum account. The easiest way to do this, is with MyEtherWallet
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Generate an Ethereum Account
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Step 1
Click on Generate Wallet and enter a good password. You will always be able to regenerate the same account from the same password.
Click download and save the json file BUT keep this file safe and private. Any person who gets their hands on this file can now access your account, so store it safely.
Open the file and look at ciphertext. This value is your private key. This private key is the part that MUST be kept secret.
Copy this ciphertext/private key into memory and go to the View Wallet Info tab at the top of the page.
Select the Private Key radio button and paste your private key into the box. Click Unlock.
Now you can access your Ethereum account! It is here that you will find your Ethereum address, view the balance that this account has in it, view any tokens that it has, and other interesting things also.
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Get Ether
As you can see, new accounts do not hold any Ether and you will have to get some.
Click on the Swap tab at the top of the page to exchange your bitcoins for Ether. Alternatively you may use ShapeShift. Be aware that this method is more expensive than sourcing Eth of exchanging it through an established token exchange, ie. Poloniex or Coinbase.
Exchange for VERI Tokens
Once you have some Ether, you are ready to exchange those Ether for Veritaseum Tokens! One VERI Token costs 0.03333333333 Ether, so for one Ether you get 30 VERI Tokens!
The ICO crowdfunding stage is from 2017 April 25th 9:30 EST (14:30 UTC) and lasts for 31 days. There is even a 20% discount for tokens purchased on day one (after the start), a 10% discount for tokens purchased on day two (after the start), and every consecutive day the discounted rate will reduce by 1% per day until the normal price is reached (day 12)!
The VeritaseumToken smart contract is an Ethereum ERC20 compliant token, which means that you can exchange VERI tokens on any Ethereum based exchange.
Very Important Note: By continuing past this point and purchasing Veritas tokens, you are hereby acknowledging that you have read, understood and accepted both the Veritas Product Purchase Agreementand the Terms & Conditions of the Veritaseum 2017 Veritas Sale..
The address of the VeritaseumToken is at: 0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374
The source code of the VeritaseumToken can be found at: https://github.com/RFVenter/Veritaseum/blob/master/contracts/VeritaseumToken.sol
To purchase VERI tokens during the ICO phase you will have to use another smart contract which has been designed to sell tokens at the correct price during this time.
Very Important Note: By continuing past this point and purchasing Veritas tokens, you are hereby acknowledging that you have read, understood and accepted both the Veritas Product Purchase Agreementand the Terms & Conditions of the Veritaseum 2017 Veritas Sale..
The address of the TokenPurchase is at: 0x599a4b8188676224d4c9b393b947e332b60b15e3
The source code of the TokenPurchase can be found at:
https://github.com/RFVenter/Veritaseum/blob/master/contracts/TokenPurchase.sol
To purchase Veritas, go to the “Contracts” menu in MyEtherWallet as shown below.
Set the selections as shown below...
Click on the Interact with Contract tab at the top of the page. Enter Contract address 0x599a4b8188676224d4c9b393b947e332b60b15e3.
Copy and paste the TokenPurchase ABI code from the box below:
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[{"constant":false,"inputs":[],"name":"purchaseTokens","outputs":[{"name":"","type":"uint256"}],"payable":true,"type":"function"},{"constant":true,"inputs":[],"name":"startTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"closeTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"owner","outputs":[{"name":"","type":"address"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"price","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"}] |
If the site asks you again, then enter your private key again and Unlock.
Click WRITE
To exchange Ether for VERI tokens you simply have to send the amount of Ether you wish to convert to VERI tokens, to the TokenPurchase smart contract. The smart contract will automatically allocate your tokens to your Ethereum address.
Increase the Gas Limit to about 80,000 and Click Generate Transaction
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Congratulations, you now have VERI tokens! |
Next you will want to go to your Ethereum account and see your VERI tokens. Click on the View Wallet Info tab and enter your private key again, if the site asks you for it.
Click Add Custom Token and enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Address box, VERI into the Token Symbol box, and 18 into the Decimals box and Save
You will now be able to see VERI tokens for any and each Ethereum account that you may have.
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Use VeritaseumToken smart contract and Tokens
Once you have Veritaseum Tokens you can do several things with it. Since this is an ERC20 compliant token you can basically exchange VERI tokens on any Ethereum exchange, and there are several. You can exchange them for other tokens, or sell them back to Ether at a later stage.
To use them on MyEtherWallet, click on Send Ether & Tokens tab. Enter your private key and Unlock.
Now, enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Contract Address box.
Copy and paste the VeritaseumToken ABI code from the box below.
click Access
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[{"constant":true,"inputs":[],"name":"name","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_spender","type":"address"},{"name":"_value","type":"uint256"}],"name":"approve","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"totalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_from","type":"address"},{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transferFrom","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"decimals","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"}],"name":"balanceOf","outputs":[{"name":"balance","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"owner","outputs":[{"name":"","type":"address"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"symbol","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transfer","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"},{"name":"_spender","type":"address"}],"name":"allowance","outputs":[{"name":"remaining","type":"uint256"}],"payable":false,"type":"function"},{"inputs":[],"payable":false,"type":"constructor"},{"anonymous":false,"inputs":[{"indexed":true,"name":"from","type":"address"},{"indexed":true,"name":"to","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Transfer","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"owner","type":"address"},{"indexed":true,"name":"spender","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Approval","type":"event"}] |
Now you can access all the public functions that this smart contract has. For more information about ERC20 compliant Tokens goto to ERC20
If you select price you can see that it has a lot of digits. Ethereum has high precision and uses 18 decimal standard precision.
The cost of this token is 0.033,333,333,333,333,333 Ether per one token. OR 1 Ether is 30 tokens.
The function shows you how many tokens your account has.
This function allows you to transfer your tokens to another Ethereum address, like your friends.
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Conclusion
Using Veritaseum Tokens are fun and easy. If you need more information about Ethereum Tokens, just Google it.
Look What Happens When the Hedge Fund Fee Fight Hits the Blockchain - Redisruption
A hedge fund recently made news by securitizing its LP units as digital tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that should truly challenge the extant VCs right? Well, yes and no. You see, the tokenized thingy is cool and all, but it really doesn't take full advantage of the technology at hand. After all, 2.5% & 25% is a pretty steep fee. Veritaseum, in anticipation of its upcoming ICO (online road show and executive summary ), is prepping to launch what we call an ICODAO, and Distributed Autonomous Organization that collects Initial Coin Offerings. We are attempting to make this nearly completely autonomous, tested (don't think "TheDAO" debacle, and considerably cheaper than hedge funds that you see these days. Now, the ICODAO is not a hedge fund, or a fund of any kind. It's sort of an autonomous software entity, that uses our software token, "Veritas" to allow other entities and individuals to gain access to its accumulated exposures and services. Those services are basically the sniffing our and collecting the best of the best ICOs and token offerings available, and the exposures are the natural result of the collection and holding of said ICOs. A world class research team will supply the analytical chops (click here if you don't know, the same team that predicted Bear Stearns, Lehman, CRE and housing crash, Google, EU sovereign debt crisis, etc.). Back to that in a minute, let's look at what's happening in the world off(block)chain.
Bloomberg reports "Yale Endowment Blasts Low-Fee Critics, Says Gains Would Lag", as excerpted:
Yale University, one of the most-watched and best-performing college endowments, defended the fees it pays to external managers, saying in an annual investment report that a low-cost passive strategy would have “shortchanged’’ the Ivy League school’s students and faculty.
Fees for private equity and hedge fund managers, some of whom command 2 percent for management and 20 percent for performance, or even more, have become a heated topic. Berkshire Hathaway Inc.’s Warren Buffett and writer Malcolm Gladwell have taken public shots at the structure, and Gladwell specifically targeted Yale two years ago.
“What Buffett, Gladwell and other fee bashers miss is that the important metric is net returns, not gross fees,’’ the report said. “Weak or negative returns would result in low or no performance-related fees, but would be a terrible outcome for the university.’’
Yale’s investment strategy emphasizes long-term active management of equity-oriented, yet often illiquid assets, with more than half the fund in alternative investments. Almost a third of Yale’s 2016 allocation is in private equity, including 16.2 percent in venture capital and 14.7 percent in leveraged buyouts. About 22 percent is in absolute return with hedged-like strategies.
“Performance-based compensation earned by external, active investment managers is a direct consequence of investment outperformance,’’ it said.
Yeah, I get it. Some guys are just better than others at investing, and they should be compensated commensurately. The question is, are there high performers that can be had for less than 27% of your profits? Let's take a look at a theoretical blockchain focused hedge fund vs the ICODAO - from a graphical perspective. Realize that the ICODAO charges a flat fee for its services. It's not a hedge fund, so there are no performance fees, but there are certain things that it may not be able to do on its own (yet), hence has to contract out for. The fees are to cover what it takes to make this autonomous entity self sustaining. It may very well be the case that these fees will shrink over time. We don't know, we're breaking new ground here. The hedge fund fees are self explanatory.
There you go. In a nutshell. Here's more...
Yes, the machines are taking over! Be sure to take part in the Veritaseum Token Offering, take part in the paradigm shift! Feel free to contact me directly with any queries via the contact form in the top menu.
Download the Veritas deal sheet here.
This Is Ground Zero for the 2017 Veritas Offering. Purchase the Keys to the P2P Capital Markets
Getting Started Down the Road to Purchasing the Keys to the Peer-to-Peer Capital MarketsVeritas sale date: 9:30 am, EST - 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. |
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.
Veritas Product Purchase Agreement
Terms & Conditions of the Veritaseum 2017 Veritas Sale
Veritas 2017 ICO Purchase: Step-by-Step Tutorial
Very Important Note: By continuing past this point and purchasing Veritas tokens, you are hereby acknowledging that you have read, understood and accepted both the Veritas Product Purchase Agreementand theTerms & Conditions of the Veritaseum 2017 Veritas Sale..
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Veritaseum Token Tutorial
In order to use anything on the Ethereum network a person needs to have an Ethereum account. The easiest way to do this, is with MyEtherWallet
-
Generate an Ethereum Account
-
Step 1
Click on Generate Wallet and enter a good password. You will always be able to regenerate the same account from the same password.
Click download and save the json file BUT keep this file safe and private. Any person who gets their hands on this file can now access your account, so store it safely.
Open the file and look at ciphertext. This value is your private key. This private key is the part that MUST be kept secret.
Copy this ciphertext/private key into memory and go to the View Wallet Info tab at the top of the page.
Select the Private Key radio button and paste your private key into the box. Click Unlock.
Now you can access your Ethereum account! It is here that you will find your Ethereum address, view the balance that this account has in it, view any tokens that it has, and other interesting things also.
-
Get Ether
As you can see, new accounts do not hold any Ether and you will have to get some.
Click on the Swap tab at the top of the page to exchange your bitcoins for Ether. Alternatively you may use ShapeShift. Be aware that this method is more expensive than sourcing Eth of exchanging it through an established token exchange, ie. Poloniex or Coinbase.
Exchange for VERI Tokens
Once you have some Ether, you are ready to exchange those Ether for Veritaseum Tokens! One VERI Token costs 0.03333333333 Ether, so for one Ether you get 30 VERI Tokens!
The ICO crowdfunding stage is from 2017 April 25th 9:30 EST (14:30 UTC) and lasts for 31 days. There is even a 20% discount for tokens purchased on day one (after the start), a 10% discount for tokens purchased on day two (after the start), and every consecutive day the discounted rate will reduce by 1% per day until the normal price is reached (day 12)!
The VeritaseumToken smart contract is an Ethereum ERC20 compliant token, which means that you can exchange VERI tokens on any Ethereum based exchange.
Very Important Note: By continuing past this point and purchasing Veritas tokens, you are hereby acknowledging that you have read, understood and accepted both the Veritas Product Purchase Agreementand the Terms & Conditions of the Veritaseum 2017 Veritas Sale..
The address of the VeritaseumToken is at: 0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374
The source code of the VeritaseumToken can be found at: https://github.com/RFVenter/Veritaseum/blob/master/contracts/VeritaseumToken.sol
To purchase VERI tokens during the ICO phase you will have to use another smart contract which has been designed to sell tokens at the correct price during this time.
Very Important Note: By continuing past this point and purchasing Veritas tokens, you are hereby acknowledging that you have read, understood and accepted both the Veritas Product Purchase Agreementand the Terms & Conditions of the Veritaseum 2017 Veritas Sale..
The address of the TokenPurchase is at: 0x599a4b8188676224d4c9b393b947e332b60b15e3
The source code of the TokenPurchase can be found at:
https://github.com/RFVenter/Veritaseum/blob/master/contracts/TokenPurchase.sol
To purchase Veritas, go to the “Contracts” menu in MyEtherWallet as shown below.
Set the selections as shown below...
Click on the Interact with Contract tab at the top of the page. Enter Contract address 0x599a4b8188676224d4c9b393b947e332b60b15e3.
Copy and paste the TokenPurchase ABI code from the box below:
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[{"constant":false,"inputs":[],"name":"purchaseTokens","outputs":[{"name":"","type":"uint256"}],"payable":true,"type":"function"},{"constant":true,"inputs":[],"name":"startTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"closeTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"owner","outputs":[{"name":"","type":"address"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"price","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"}] |
If the site asks you again, then enter your private key again and Unlock.
Click WRITE
To exchange Ether for VERI tokens you simply have to send the amount of Ether you wish to convert to VERI tokens, to the TokenPurchase smart contract. The smart contract will automatically allocate your tokens to your Ethereum address.
Increase the Gas Limit to about 80,000 and Click Generate Transaction
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Congratulations, you now have VERI tokens! |
Next you will want to go to your Ethereum account and see your VERI tokens. Click on the View Wallet Info tab and enter your private key again, if the site asks you for it.
Click Add Custom Token and enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Address box, VERI into the Token Symbol box, and 18 into the Decimals box and Save
You will now be able to see VERI tokens for any and each Ethereum account that you may have.
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Use VeritaseumToken smart contract and Tokens
Once you have Veritaseum Tokens you can do several things with it. Since this is an ERC20 compliant token you can basically exchange VERI tokens on any Ethereum exchange, and there are several. You can exchange them for other tokens, or sell them back to Ether at a later stage.
To use them on MyEtherWallet, click on Send Ether & Tokens tab. Enter your private key and Unlock.
Now, enter the address (0x8f3470a7388c05ee4e7af3d01d8c722b0ff52374) of VeritaseumToken into the Contract Address box.
Copy and paste the VeritaseumToken ABI code from the box below.
click Access
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[{"constant":true,"inputs":[],"name":"name","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_spender","type":"address"},{"name":"_value","type":"uint256"}],"name":"approve","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"totalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_from","type":"address"},{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transferFrom","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"decimals","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"}],"name":"balanceOf","outputs":[{"name":"balance","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"owner","outputs":[{"name":"","type":"address"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"symbol","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transfer","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"},{"name":"_spender","type":"address"}],"name":"allowance","outputs":[{"name":"remaining","type":"uint256"}],"payable":false,"type":"function"},{"inputs":[],"payable":false,"type":"constructor"},{"anonymous":false,"inputs":[{"indexed":true,"name":"from","type":"address"},{"indexed":true,"name":"to","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Transfer","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"owner","type":"address"},{"indexed":true,"name":"spender","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Approval","type":"event"}] |
Now you can access all the public functions that this smart contract has. For more information about ERC20 compliant Tokens goto to ERC20
If you select price you can see that it has a lot of digits. Ethereum has high precision and uses 18 decimal standard precision.
The cost of this token is 0.033,333,333,333,333,333 Ether per one token. OR 1 Ether is 30 tokens.
The function shows you how many tokens your account has.
This function allows you to transfer your tokens to another Ethereum address, like your friends.
-
Conclusion
Using Veritaseum Tokens are fun and easy. If you need more information about Ethereum Tokens, just Google it.
What is the Value Proposition For Veritas?
A Veritaseum Smart Contract form.
A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim:
Here's What A Real, Live Veritaseum 5x Short DB Smart Contract Looks Like to Our Research Subscribers
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.
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:
The Macro Scene for Italian BanksThis Bank as Ground ZeroSusceptible Bank 1: Strong Country, Suspect Global Bank - Key Performance-
30m
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Susceptible Bank 1: Financial ModelingEnter Italy's "Bear Stearns" 2Q2106-
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Enter Italy's "Lehman Brothers"-
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