Veritaseum is a scam
Wanted to tell you that today I lost faith in one of the people I respected in the past. Reggie Middleton participated numerous times on Keiser Report, one of the shows I watched very often. And I should tell you that I really liked what he was saying on the show. But now I am a full-time analyst on CryptoCurrencies and I need to have unbiased opinions for my viewers to respect my work and believe in me. I was asked quite a lot of times to do report on Veritaseum, but was too lazy to do it. But when I had time, I opened the Veritaseum page and was stunned at how unprofessional site looked. And this wasn’t the only thing I noticed. The other thing that bothered me the most was the information. There was none about the Veritaseum coin, only trashy economic reports and general economic articles on how our current banking and financial systems are rotten. I still did short review and you can find it on my channel. Actually, the day I made this short review I noticed so many red flags about this coin I was amazed. Even the Nigerian scammers now create much more sophisticated initial coin offerings. Reggie is quite an eloquent speaker, but during all his video interviews I found that there was a complete lack of substance about his project. He likes to talk about cryptocurrencies in general, but when somebody tries to ask Reggie directly about actual usage, he simply continues his speech about corrupt banking institutions. Watch the coininterview youtube video with Reggie Middleton if you want details.
I am very disappointed in Reggie and with heavy heart I present to you the red flags I found about the Veritaseum cryptocurrency.
During my research I found quite a lot of interesting things about Veritaseum. I also noticed that people who wrote about valid VERI problems were flooded with stupid, lacking any intelligent thought, dull comments from VERI maximalists. And the funny thing here is that those maximalists, when they were confronted with sound arguments, didn’t know much about the project they invested in. Be careful and always do your research, guys.
Veritaseum has a lot of red flags which indicate that this coin is scam made by Reggie Middleton. And the most important thing here is that even one serious red flag is enough for me to avoid investing into anything. So what was the reason Reggie Middleton started his Veritaseum ICO campaign?
ICO hype seems to be the only reason Reggie started all this. Greed is what makes a lot of personalities create Initial Coin Offerings, but scam coins founders will get what they deserve in the end for fooling people. Everything about this coin is wrong, but let’s enumerate all red flags I found.
This is the first thing you see when you try to understand Veritaseum, its shitty internet page. And , well, Reggie repeates himself very often in his articles and videos, and he likes to say that investing in his project is like investing in internet in 1994. What can I say? His site surely looks like it is from 1994.
To finally understand what Veritaseum is for, you need to transcend all this shitty information on the site. So, what conclusions can you make about the VERI token usage while trying to digest trashy articles about corrupt and greedy bankers who should be hanged? You can buy the trashiest reports with your VERI on cryptocurrencies done by Reggie and his “team”. I didn’t buy any report but I could look into free report about Gnosis. First of all, their reports are as bad as their site. Second of all, it is a copy paste report from Gnosis website. Thirdly, there were revenue “projections” which were completely pulled out of thin air. No substance, no form in those reports. I even sent links to this free report to my chat group. Couple of people, who tried to understand the report, were unanimous in opinion that the report was shitty. You still cannot use the Reggie’s P2P platform, even though he already had bitcoin prototype of VERI from at least 2015.
As far as I understand, when centralized exchanges were approached by Reggie and his 2-people-team to list VERI, exchanges simply didn’t get what Reggie was offering and refused listing. Only EtherDelta, decentralized exchange built on Ethereum, listed VERI. BTW, this is why I believe in decentralized exchanges. Maybe I do not like VERI, but I acknowledge the right of listing even for the shittiest of shitcoins. Even VERI. And it is really surprising that VERI could have such a huge daily trade volume on such a small exchange. My supporters told me that famous YouTube blogger Crypt0 was the reason this coin got so famous, he even made a video on how to buy this shitcoin on EtherDelta. So much passion for such a coin, was there financial interest from Crypt0 side?
If you didn’t know, Reggie already had this Veritaseum platform but only on Bitcoin. And guess what, it failed. Reggie Middleton told that the main reason his project failed was regulation. What makes you, Reggie, think that this time regulation will let you do anything? BTW, the project was called “ultracoin”, a very scammy sounding name. I think that the main reason the project was closed was due to popularity issues. One redditor from r/ethtrader (https://www.reddit.com/r/ethtrader/comments/6o1ys1/veritaseum_wtf/) found that the bitcoin version of Veritaseum was downloaded 402 times. Nobody simply used this software, that’s it. If it wasn’t the reason, then regulation will bite Reggie again.
That is the shittiest part. There are 3 people on the team, and that’s not all. What does team consist of? Reggie Middleton, contrarian badass who predicted the Lehman brothers collapse as well as Bear Stearns’ in 2008. What else does he do for a living, anybody knows? Patryk Dworznik, who is the main developer of Veritaseum platform, and it seems like he is the only one. Finally, Reggie Middleton’s son, Masiah Middleton. Yep, nothing else to add, guys…
Okay, no we go to the VERI token economics. Did you know that Reggie has more than 98% of all VERI tokens even after the so called “hack”? Insanity. Also, the so-called “hack” smells like inside job , but I do not have any proofs, so I will not develop this story. If you got information on this “hack”, then please send me the information so I can share it. Greed makes good people corrupt.