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Vechain (VET) - Sleeping Titan - Recon12345 - Dec 30, 2021
Vechain was established in Singapore (2015) by Sunny Lu, the former chief information officer (CIO) of Louis Vuitton China. It started as a subsidiary of Bitse, one of China's largest blockchain companies, and is among the few blockchains that already have a substantial customer base among established companies. And now they have offices in China, Singapore, Luxembourg, Japan, France, Italy and the United States.
VET used to be called VEN in the past but they did a rebranding in 2018 If i remember correctly.
CoinMarketCap
Coingecko
Official Website
Vechain Whitepaper
What is Vechain
Achievements so far
10 Million blocks without downtime
Vechain Partners
The list is outdated and they made a lot of partnerships this year as well. Most notable one for 2021 Mongolia Agriculture Ministry Partnership
Would also like to highlight the BMW group (uses vechain for their OEM parts), Renault and Walmart China.
Tokenomics
64.32B - Circulating Supply at the time of this post
86,712,634,466 (billions) MAX supply.
Therefore VET needs about 1T marketcap to hit aprox 11$. This is not an investition for the average moon boy but a long term hodl.
1T into ETH would mean aprox 8406$ per ETH and 1T into Cardano would mean aprox 22.2$ per 1 Cardano.
Tokenomics are not looking that good so far compared to ethereum and neither as popular in the news, therefore no hype. Which is a good thing, organic growth is the best growth.
Vechain uses Vethor (VTHO) Token as gas fees for their transactions. VTHO is generated for any VECHAIN holder and it's extremely cheap to transaction too.
Vechain integrated dexes are OceanEX and Zumaswap made with the idea to compete with uniswap but this is indeed a gamble at this point.
My two cents
Alright so my trump card here is the Vechain Proof of Authority 2.0 upgrade which will make the network more scalable and cheaper to transaction, preparing the whole network for the long waited mass adoption at an institutional level. The first milestone was already successful but it was just the first step. The whole update should take about aprox 2-3 years to be fully integrated in the main net. Considering VET is already used IRL by so many companies I don't see how it won't be one of the most adopted cryptos when the adoption will start.
POA 2.0 Update
"This novel consensus mechanism was built to eliminate the weaknesses and gain the benefits of the two main consensus types; Nakamoto Consensus and Byzantine Fault Tolerance (BFT)" - Read the article above for more info.
[vatopid=264]
[vatopid=265]
Therefore this is a long term hodl, not friendly for the moonboys or the get rich quickly mentality. This is a strong long term hodl and good entries are under 0.06$. ATH ever was 30ish cents. I can see this tanking to 0.02$ or more when the bear market will hit us hard, most probably 2023. (fully speculative though, take this with a grain of salt)
Not a financial advisor DYOR before investing as I can't predict the future
Only red flag I can see is them being highly affiliated with China but keep in mind Singapore is not controlled by China. But even so, they have a big chunk of their operations there. However let's keep in mind that China's economy flipped Murica before the pandemic hit. Oh and also, apparently the pandemic helped Vechain immensely with the logistics crysis that happened and still occurs in some parts of the world as we speak right now.
RE: Vechain (VET) - Sleeping Titan - popZmoke - Dec 30, 2021
VeChain is indeed a sleeping giant in my eyes. Big plans coming for VeChain in 2025 with BMW and VW. I am not buying right now. Hoping for a dip in mid 2022 and I'll start loading up.
RE: Vechain (VET) - Sleeping Titan - Recon12345 - Dec 30, 2021
(Dec 30, 2021 04:54 AM)popZmoke Wrote: VeChain is indeed a sleeping giant in my eyes. Big plans coming for VeChain in 2025 with BMW and VW. I am not buying right now. Hoping for a dip in mid 2022 and I'll start loading up.
Yeah the number of partnerships is insane they grow so fast. It's just a matter of time. Not buying now either but I have a considerable chunk. Planing on accumulating more during the bear market.
RE: Vechain (VET) - Sleeping Titan - BrainDD - Dec 30, 2021
i have vechain and planning to hold it for long, i even don't mention it when talking about what im holding, its one of my "im here to stay" investments
RE: Vechain (VET) - Sleeping Titan - SIM-3749878 - Dec 30, 2021
I just set up a recurring buy for $50 worth of VeChain weekly.
RE: Vechain (VET) - Sleeping Titan - Omniscient - Dec 30, 2021
He speaks about a lot of value from products and the supply chain and even if this solves the problem it's not going to have a high token value. This reminds me a lot of the cloud storage tokens like Storj or SiaCoin. Their problems are similar where the more expensive the token gets the less it makes sense to actually use as a customer.
What company wants to have their inventory public? Also, if it's public doesn't that mean a fake QR code could be made? How does this actually stop fakes? Does this mean boxes will need expensive anti-forgery printing for the stickers? It's just not practical and doesn't actually solve anything, just creates more problems.
Blockchain usage like this is better suited in closed loops where a manufacturer, suppliers, and the customers only have access. And it has to be dirt cheap to implement. It is not a public token that should be doing this. It's just an excellent use of blockchain technology.
Sunny Lu has a luxury goods background. And this might solve some issues with luxury good counterfeiting.
The whitepaper mentions the food supply chain and other use cases. But again, how is it going to work if the token is really expensive? That would be my biggest hurdle to investing.
RE: Vechain (VET) - Sleeping Titan - Recon12345 - Dec 30, 2021
(Dec 30, 2021 12:49 PM)Omniscient Wrote: He speaks about a lot of value from products and the supply chain and even if this solves the problem it's not going to have a high token value. This reminds me a lot of the cloud storage tokens like Storj or SiaCoin. Their problems are similar where the more expensive the token gets the less it makes sense to actually use as a customer.
What company wants to have their inventory public? Also, if it's public doesn't that mean a fake QR code could be made? How does this actually stop fakes? Does this mean boxes will need expensive anti-forgery printing for the stickers? It's just not practical and doesn't actually solve anything, just creates more problems.
Blockchain usage like this is better suited in closed loops where a manufacturer, suppliers, and the customers only have access. And it has to be dirt cheap to implement. It is not a public token that should be doing this. It's just an excellent use of blockchain technology.
Sunny Lu has a luxury goods background. And this might solve some issues with luxury good counterfeiting.
The whitepaper mentions the food supply chain and other use cases. But again, how is it going to work if the token is really expensive? That would be my biggest hurdle to investing.
"Lets use wine for an example.
Each bottle has its own QR code, that can't just be re-created elsewhere, because that person (fraudster) wouldn't know what the QR code looked like until he bought that very bottle. If he has to buy the real thing in order to sell a counterfeit version... well obviously there's no profit, only loss.
VeChain doesn't make it impossible to commit fraud here. No blockchain-based project ever could. They do make it unprofitable though, which is pretty much a surefire way to kill the entire counterfeit market (criminals don't do stuff to lose money)
It's not profitable to put NFC chips on cheaper wines. In any case, the QR code alone allows for companies (and quality assurance giants like DNV GL) to pinpoint exactly where any fraud was committed, and remove that issue from the supply chain. In east-asian countries especially, this is a major benefit."
Just copy pasted it as the answer is legit and no bullshit.
Now I do see your point of view but considering Renault, BMW , Volkswagen soon, Walmart China, Wineries from Spain and Extra Virgin Oil producers from Greece, Mongolia (It's true Mongolia it's a 3rd world country but their #1 industry is agriculture and they just adopted VET for that) adopted vechain already? You see them as incompetents to chose vechain which you say it's a sham?
And let's keep in mind that vechain it's still a sleeping titan for a reason, it's not fully functional at it's full capacity yet. They could integrate a 3rd chain to keep the prices cheap for cheap products.
At this point I think Vechain is too big to be a scam, too many partnerships and they have a lot more planned on the way, Sunny Lu was CIO for China's Louis Vuitton for a reason, doubt he is a moron that has no idea what he is doing.
RE: Vechain (VET) - Sleeping Titan - Omniscient - Dec 30, 2021
Quote:Each bottle has its own QR code, that can't just be re-created elsewhere, because that person (fraudster) wouldn't know what the QR code looked like until he bought that very bottle. If he has to buy the real thing in order to sell a counterfeit version... well obviously there's no profit, only loss.
So you're doing this for $10-$20 bottles of wine and how much is the added cost from VeChain and to commit this technology to your product through the supply?
And you're describing a use case, not why it will have a high valuation. Tokens are not stocks and you don't own a part of the company by buying tokens. The VeChain people can make a fortune with integration and implementation for customers. But I don't see how that directly translates to value to the actual token.
Quote:You see them as incompetents to chose vechain which you say it's a sham?
Chosen by Mongolia or VeChain is using them as a test and providing either cheap or free implementation? Also, never used the word sham to describe VeChain. Good technology is not the same as token value. I made similar arguments with SiaCoin which is down 83% from their ATH.
Quote:At this point I think Vechain is too big to be a scam, too many partnerships and they have a lot more planned on the way, Sunny Lu was CIO for China's Louis Vuitton for a reason, doubt he is a moron that has no idea what he is doing.
Ugh, don't be dense. I didn't call it a scam either. And just because Sunny Lu makes a fortune from this doesn't mean you will do so as well by buying the token. You want to get rich, then ask Sunny Lu to issue an actual stock IPO for VeChain and buy that. The stock will have actual value.
Gonna give you what I think is a great example. The straw. You can get these for probably less than a penny in bulk. At this point these are a vital add-on for beverage sales. Millions, if not billions are sold every year. So why aren't they more expensive? Because if indeed straws were 10 cents each, my guess is restaurants would phase them out. btw, even the new biodegradable straws are a penny. Because no one will pay more.
VeChain adds value to another product, it is not value itself.
btw, this was tucked away in their whitepaper...
Quote:After studying the economic models of most public blockchain networks, and several
discussions with our business partners, especially corporations and enterprise business
owners, we discovered the largest obstacle to adoption of massive applications on blockchain:
the cost of using blockchain is directly linked to token valuation. While the token valuation
usually goes up as the blockchain usage grows, the cost of using blockchain varies depending
on whether a party wishes to conduct payment transactions or smart contract transactions.
This does not even mention the speculation of investors and traders as a contributor to the
value of a blockchain. No business owner would run applications or a business on blockchain,
or anywhere, at an unpredictable and unstable cost.
100% exactly what I'm telling you. Even they know it. So I win this argument absolutely. You should concede that I'm right.
RE: Vechain (VET) - Sleeping Titan - Omniscient - Dec 30, 2021
btw it actually gets worse from the Whitepaper...
Quote:This section describes the VeChainThor blockchain economic model that governs the VeThor
Token (VTHO) generation from VeChain Tokens (VET), an estimation of market demand and
supply of VTHO, and VTHO price modeling principles. In summary, VTHO is generated via
holding VET with velocity 𝑣, which is established to allow any user with VET to make
transactions at no extra cost if the user holds the tokens for long enough.
Based on the VTHO generation model, we can estimate the supply and demand of VTHO for
each given day or a period of time. Because VET has a fixed total supply of 86,712,634,466,
the supply of VTHO per day is calculated to be 37,459,858 at the current 𝑣. The demand of
VTHO comes from smart contract execution and payment transactions. To stabilize the
transaction cost in fiat and maintain the equilibrium of the demand and supply of VTHO, the
Foundation closely monitors the market and estimates the demand VTHO based on the
activities of applications running on the VeChainThor blockchain and token transmissions.
When needed, the Foundation would decide to initiate the adjustment of economic model
variables according to the governance model.
VET is #32 in market cap rank. That's going to eventually plummet.
I just don't understand people that believe they can pick cryptos without ever reading the whitepaper.
RE: Vechain (VET) - Sleeping Titan - Recon12345 - Dec 30, 2021
(Dec 30, 2021 02:14 PM)Omniscient Wrote: So you're doing this for $10-$20 bottles of wine and how much is the added cost from VeChain and to commit this technology to your product through the supply?
And you're describing a use case, not why it will have a high valuation. Tokens are not stocks and you don't own a part of the company by buying tokens. The VeChain people can make a fortune with integration and implementation for customers. But I don't see how that directly translates to value to the actual token.
Chosen by Mongolia or VeChain is using them as a test and providing either cheap or free implementation? Also, never used the word sham to describe VeChain. Good technology is not the same as token value. I made similar arguments with SiaCoin which is down 83% from their ATH.
Ugh, don't be dense. I didn't call it a scam either. And just because Sunny Lu makes a fortune from this doesn't mean you will do so as well by buying the token. You want to get rich, then ask Sunny Lu to issue an actual stock IPO for VeChain and buy that. The stock will have actual value.
Gonna give you what I think is a great example. The straw. You can get these for probably less than a penny in bulk. At this point these are a vital add-on for beverage sales. Millions, if not billions are sold every year. So why aren't they more expensive? Because if indeed straws were 10 cents each, my guess is restaurants would phase them out. btw, even the new biodegradable straws are a penny. Because no one will pay more.
VeChain adds value to another product, it is not value itself.
btw, this was tucked away in their whitepaper...
100% exactly what I'm telling you. Even they know it. So I win this argument absolutely. You should concede that I'm right.
Well looks like you are set in your views and I respect that. But at the end of the day everyone makes it's own choices, I provided the info and I think Vechain is a solid long term hodl, they are not perfect and never said that, but the massive potential it's still there. And we all know people buy mostly on hype. Crypto with good tech and good use case + marketing = moon. It's just a matter of time. Hell most of the people will fomo in just because they see BMW Renault and soon VW in the partnership list.
Also yes you didn't called it a scam/sham, I do apologize for the misinterpretation.
(Dec 30, 2021 02:19 PM)Omniscient Wrote: btw it actually gets worse from the Whitepaper...
VET is #32 in market cap rank. That's going to eventually plummet.
I just don't understand people that believe they can pick cryptos without ever reading the whitepaper.
Well yes they can mint how much VTHO They want think I already stated that. But the foundation will do so via vote, as it happened already a few times.
RE: Vechain (VET) - Sleeping Titan - SUI-3183372 - Dec 30, 2021
(Dec 30, 2021 12:49 PM)Omniscient Wrote: Blockchain usage like this is better suited in closed loops where a manufacturer, suppliers, and the customers only have access. And it has to be dirt cheap to implement. It is not a public token that should be doing this. It's just an excellent use of blockchain technology.
This is one of the aspects of Aleph Zero that excites me. You'll be able to create private instances connected to the public ledger. This will allow enterprises to build decentralized projects that benefit from the speed and security of a public DLT platform, while still being able to preserve the privacy of their transactions. Transactions on AZERO are near-free and finality is the fastest I've ever seen, it's the perfect candidate for enterprises to decentralize their systems (the systems that make sense to decentralize).
RE: Vechain (VET) - Sleeping Titan - Omniscient - Dec 30, 2021
Quote:Well looks like you are set in your views and I respect that.
Wow, you mean the views that are in their own whitepaper? What a fucking tool you are.
RE: Vechain (VET) - Sleeping Titan - AnctientWarrior - Dec 31, 2021
All things considered I do think Vechain is a solid long term hold and doubtfully it will get 1T in the next 5 years I do believe it will surely reach 1$ which is more than enough to get that lambo
RE: Vechain (VET) - Sleeping Titan - Xabra - Dec 31, 2021
(Dec 31, 2021 07:25 AM)AnctientWarrior Wrote: All things considered I do think Vechain is a solid long term hold and doubtfully it will get 1T in the next 5 years I do believe it will surely reach 1$ which is more than enough to get that lambo
Fk a lambo. By that time all fuel will be banned and everything will be electric just snag a tesla
RE: Vechain (VET) - Sleeping Titan - Recon12345 - Dec 31, 2021
(Dec 31, 2021 09:10 AM)Xabra Wrote: Fk a lambo. By that time all fuel will be banned and everything will be electric just snag a tesla
Actually rules don't apply to rich people. Probably you will still can drive a lambo but with some pollution fee.