VECHAIN - Top 3 Coin by the End of the Year (bring your tin-foil hats)

prediction
theory
vechain

#203

Some good things already coming out of Consensus for Vechain with more to come. I had it on good authority that this week’s gunna be “HUGE”, and they’re off to a good start :grin:

First, there’s this awesome ad on the back of the expo’s magazine that all attendees get at the door: (along with this sweet notepad)

Just a couple hours ago, DNV GL announced they’d be acquiring a minority stake in Vechain Tech as well as running an authority node on the network! So that’s cool. PwC and DNV both now hold equity as well as tokens (I assume PwC is also going to be an authority node)

But the BIGGEST NEWS so far was casually dropped by Sunny during the DNV announcement, and it’s pretty mindblowing. In “three or four” days folks, we’re getting a whitepaper. Yup. Finally, we can transition from a corporate PnD scam to a legitimate crypto project, joining other prestigious whitepaper-having projects like Tron, and Verge. It’s truly a glorious day for Vechain :ven:


#204

In case you missed it - Vechain has a whitepaper now!
It’s 114 pages long and full of ridiculous math, but it’s by far the best and only whitepaper I’ve ever read :+1:


:ven:

BONUS FOMO: Imagine, if there were a “cheap” coin out there for all the noobs to buy that WASN’T a COMPLETE SHITSHOW LIKE TRON, but instead was Vechain…

Well, imagine no longer, because come token swap/mainnet in about a month, each ERC20 VEN will be worth 100 mainnet VET. That means if we go into mainnet at $5, we come out at $0.05…
Same market cap, obviously (it’s a split not an inflation), so functionally nothing changes… but… I mean… c’mon, would you look at how CHEAP it is?! :rofl::rofl:


#205

.05…?

I’m confused


#206

They’re doing a “stock split” at mainnet launch basically. You get 100 VET for every 1 VEN you own. Market cap stays the same, there’s just 100x the tokens

580,000,000 current circulating
58,000,000,000 post-launch circulating


#207

So, the Thor isn’t really like GAS? Or I’m misunderstanding? Haven’t looked into the project a whole lot. Never really interested me.


#208

VET the main token generates Thor the second token. So, similar to NEO/GAS in that its a two coin system, but past that it’s actually pretty different

Thor has an uncapped supply but a burn rate of 70% when used - for powering transactions, smart contracts, sending funds, etc…

Thor’s price will be kept fairly stable for the sake of adoption (businesses don’t like unknown factors in their budgets) but as network usage increases, Thor generation (being variable) increases too. In this way more business adoption translates directly to higher returns from holding VET


#209

Do we know if the VAN to VET swap or split will occur if tokens are on exchanges?


#211

ICO was back in August 2017. Price was about $0.08 and it sold out in three minutes :joy:
(never was and will never be minable btw)


#212

Yeah for sure! As long as you’re using one of the big exchanges and not etherdelta or something…


#214

3minutes?

Zhshzjsnnb


#216

It’s kinda a big deal… or so I hear…


#217

Mostly by VC funds and big, smart money investors. For the rest of us poor hodlers, it was “just another Chinese ICO” so I don’t think it saw much retail action. I didn’t buy in til a lot later, like Oct or Nov


#219

Which may be the ONLY reason it succeeds.


#221

I think you’ll be constraining yourself a lot in this market.

Big players WILL emerge over time. It’s an inevitability.

I get it though.


#222

It’s a PoA system, with 101 authority nodes confirming transactions on the system. NEO has 7 (I think, someone correct me) and EOS has 21, so VEN in a way is more decentralized than them - but at the same time much more centralized than ETH obviously

It’s all just a matter of preference of course. Your red flag was actually my buy signal… I saw how much attention this was getting from big money and bought in right away


#224

VechainTor, a ETH fork, has nothing to do with the original Vechain which was pumped as corporate anti-counterfeit solution. The ‘relationships’ promoted by the ‘PwC China’ brand have nothing of substance.

Any startup can use ETH/ETC to build anti-counterfeit project, if blockchain is able to control cheating culture. POA instead of POW in China, what can possibly go wrong?

An ‘air coin’ is a fitting nick name offered by the Chinese grass root coin evaluation groups.


#225

Vechain’s private consortium chain is an ETH fork. The VechainThor blockchain was built from scratch - it’s currently in closed alpha leading up to the public beta in a couple weeks :+1:

Here’s a cool breakdown of their authority node applicants, from the New York meetup:

PoW is nice and all but you’re never going to get massive enterprise adoption with a system like that.
Also, the irony of a guy who shits on Chinese coins non-stop using Chinese “evaluation groups” to justify his FUD… :man_facepalming:


#226

You bought into the identity politics, I see. I actually wish all Vechain holders get out in time.

Internal blockchain is not resistant against 51% attack; Public blockchain with POA is an open rent seeking tool for the validators. It is a serious dilemma…


#228

I was wondering when you would show up here lol :stuck_out_tongue:
Have you taken the time to peruse the new whitepaper?

I thought this was a nice synopsis:

Here is an excerpt in regards to the 51% issue:
The main characteristics of the PoA protocol implemented in VeChainThor Blockchain:

  1. Low requirement of computational power;
  2. No requirement of communication between AMs (Authority Masternodes) to reach consensus;
  3. System continuity independent of the number of available genuine AMs;
    The primary feature here is Block validator Randomization to prevent 51% attack and maintain system continuity. I won’t go into technicals here, but the thing to note is, next block validator’s sequence can be randomized both algorithmically and deliberately by the Foundation to increase the unpredictability hence, making it more difficult for attacker(s) to find out who is responsible for producing a number of consecutive blocks at a time relatively far from now.

#229

You make some very valid points.
However… can I say?
Most theories of risks are just that. For now. Until precedents are set we really don’t know what the praxis is.

How do we defend against risks that have yet to emerge?
We can’t. So we build.

I hope VeChain doesn’t bite a bullet and be a first… but damn… this is building/experimenting time in the crypto space. Somebody gotta take one for the team…