Why has Veritaseum (VERI) gained so much in the last 24 hours?

On a regular inspection of the CoinMarketCap, ranking the coins by the biggest gainers of the last 24 hours, there is always a surprise or two popping out. This time it was Veritaseum, a coin that only diehard altcoin traders know something about.

What is Veritaseum and why has it gained so much in the last day?

On paper, the Veritaseum tries to achieve many things, but the essence boils down to enabling software-driven peer-to-peer capital markets. Most notably, this service is supposed to be provided without middlemen, brokers, or even banks. This “disruptive application of blockchain technology” offers its own smart contracts and distributed computing solutions to industries suffering from friction, inefficiencies, and high fees.

Veritaseum is full of disclaimers and offers you nothing in the future and has no credible team behind it.

So it is a typical mishmash project that does nothing of substance. (EDITED: we have falsely stated that their “whitepaper is mishmash” but it has been pointed out by avid community members that they don’t have a WP. We stand corrected, but this fact doesn’t change the gist of our message – the project is disputable).

The project itself is faced with scam allegations all the time and if you try to find out more about them, you quickly realize that those allegations actually have a strong foundation. The project has weak to non-existant social presence, no activity reports and almost no community.

This is a coin with allegedly 98% of the supply in its founder’s Reggie Middletown wallet. With less than 2% of the supply out in the wild, it’s not too hard to move the needle. Reggie is known to be a controversial figure in finance and insurance world.

All of this indicates that price jumps of this and similar coins are just whales trying to trick and catch naive noobs and drop their bags on them. Be careful of not entering their ploy and just stay away of these shady coins. This was a low volume pump and dump scam.

For the end, always bear in mind … if it talks like a scam, moves like a scam and acts like a scam then it must be.

 

intelligent crypto
How are  regular people making returns of as much as 27,144% in a year?  By picking the right coin at the right time - click the button to learn more.
Crypto arbitration still works like a charm, if you do it right! Check out Bitsgap, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Torsten Hartmann

Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

14 Comments
  1. We have almost 2400 comunity members in the Veritaseum Telegram groups, talking about utility, value, function and global expansion into Africa, Bahamas almost everyday … you should spend some time educating yourself instead of wasting time writing a hit piece.

  2. Where did you read the whitepaper, bruh? Concratulations, you’re the only one in the world to have read it, as IT DOESN’T EXCIST! The community is plenty big, your readers can find us on TG easily enough.
    Once again, a guy talking out of his ass with no knoledge of the subject. Veritaseum has a working product, awaiting approval.
    They recently hired J. Tabak as Co-CEO of the company, you know; the guy working for Reagan during the stockmarket crisis in the late – 80. You weren’t probably even born then.
    FUD piece is FUDDY.

  3. I stop reading when you said something about Veritaseum’s whitepaper. Thing about that is Veritaseum doesn’t have a whitepaper. Then I continued and found more lies “Reggie is known to be a controversial figure in finance and insurance world.” controversial as in calling the fall of the big players before the last recession you mean. Why didn’t you explain why Reggie holds the 98% ,supply of the tokens? Alao why didn’t you mentioned the Veritaseum is one of the few projects with a working project? You failed to mention the Co-CEO Jeffery Tabak in your article as well. How much were you paid to write this hit piece?

  4. Seems the article written lacks any real research into the team or the product offering. Whitepapers are for engineering ideas to sell others on the teams intention to create a product. Middleton is a financial analyst with years in the industry. There is no whitepaper. And yet there is a functional product. In regards to credible team, there are few in this space with the experience to work in the financial markets. Jeff Tabak, the newest member of the team, a business graduate of both Brown and Harvard University. He founded Miller-Tabak back in 1982. I would say between he and Reggie, exist a credible team.

    Veritaseum still has a long way to go, but are ahead of 90% of the crypto projects out there. Far too many projects have multi-million dollar market caps, and no MVP. Veritaseum has regulatory hurdles to overcome. And they will get there. Price spikes are unavoidable in illiquid markets. Simply saying this company is a scam without proof makes this article appear as a hit piece to FUD a project. Adding zero value to the crypto space.

    • I am getting suspicious – all of a sudden 6 comments on the article we wrote some time ago. Orchestrated “hit squads” make you look scammy, don’t do it.

  5. You should come join us in the telegram chat and gain some insight on what Reggie and the Veri team is and has accomplished. You’d likely change your stance. These hit pieces won’t stop veri. The telegram link is http://bit.ly/veritaseum. Come get informed.

  6. Garbage hit piece. Written by someone who has zero clues. Don’t write about things that are far beyond your level of comprehension.

  7. I read your piece and was disappointed. I mean – I could have written in myself and I am a complete amateur in the crypto space. Now if you wish to read a good analysis of a coin head over to Veritaseum and read the report on Paypie tinyurl.com/y7czagws – that’s how it shoud be done.

    • 8 comments in less than a day on a 14 days old article? You guys are too obvious and this poorly engineered coordinated defense is just a shot in your own foot.

  8. This is article written by a F*cking Idiot.

Leave a reply

CaptainAltcoin
Logo