/biz/ - Business & Finance

The token is not needed and is netherlands HUSTLE

>>13319183
Wrong! Waiting for your orders to be filled? Read the tokenomics paper.

>>13319427
Dont give >>13319183 attention, life is hard enough for this fren

>>13319427
yeah i see often the same fud, that the token is not needed but they they it for paying fees etc right?

>>13319462
they need it*

>>13319427
Looks like you are the one who needs to read it DUMBO

>>13319488
Low tier fud. Token is needed to pay gas fees and to associate wallet to files. In order to pay gas fees token needs a market price in order for it to have a market price needs to be on a market for neets to speculate on. With burning the value should increase over time.

>>13318926
I bought 2500 and will be cashing out thousands of dollars in a few months time

>>13319488
They use the token smart contract to index the file sha-256 in the bitcoin, ethereum, lto or DGB blockchain. The token is used to ID from which KYC's wallet abfile authentication happens and they convert the token to pay the indexing blockchain fee.

Now, how do you use the token to pay for blockchain fee if it is valueless? You can't retard. How do you give the token value? You expose it to the free market and the forces of supply and demand. Thebtoken burns and increased scarcity of the token is directly linked to the token usage.

What if I told you that on top of all that, they plan on releasing consumer apps to validate any digital file and that consumers would need to use their market bought VIDT tokens to do those validations. There are lots of use cases and increased utility for this token coming.

>>13319651
The gas fees are paid in ETH, BTC or DGB. The token don't need a price since it's just used for tracking wallets and usage (another useless feature).

They only attached the "tokenomics" to leech from tards since users of the service ALWAYS pay in fiat and NEVER ever need to touch the shitcoin.

>>13319713
https://medium.com/@pim_vee/vidt-and-v-ids-tokenomics-9ae760f6c7df

And from the whitepaper:

Utility / Legal status = Usage Token / Utility Token
The V-ID blockchain is anchored in both the Bitcoin and Ethereum
blockchain. A third blockchain is expected but is not yet scheduled.
The token price must be high enough to cover the operational costs of V-ID,
including Ethereum and Bitcoin transaction fees.

Try again Ranjesh

>>13319713
Wrong because using VIDT means that customers don't have to have mulitple crypto wallets for validation and they don't need to constantly calculate pricing based on changing exchange and gas rates of different blockchains. In other words the token makes things much more simple and efficient.

>>13319781
So the fact that the token has real uses (identification, paying transaction fees on indexing blockchain, identifies records the file type and other relevant information)

And the fact that there is increased scarcity and finally the fact that they will allow consumers to also be using the platform and validating with VIDT tokens purchased on exchanges, means you are 100% wrong.

>>13319821
so will this take off some day?

>>13318926
Discord trannies.
KYS
Y
S

>>13319834
It 600%'d and has only been trading 3 weeks. Teams released weekly new list of clients, transactions are always increasing on the validation wallet. On CMC for 1 week only and CMC haven't even fixed the circulating supply yet.

YouTube influencers will do project reviews/interviews soon, team said Airbus would do counterparty announcement that they use the platform and just a steady stream of new clients will be constantly announced.

They are also keynote speakers at DGD global conference next Friday.

Dont get why ppl hold shit like XBY and get with no TXs but a platform that is actually being adopted and will have little millions of transaction and coming consumer apps that are actually useful is causing concerns to some ppl

>>13319834
Maybe only time will tell. I think its definitely undervalued at its current market cap though.

>>13319864
Yes but that 600% or whatever the number is was when it had no liquidity so any purchase would moon the token. Just want it to be clear that this basically is the bottom imho

>>13319864
>>13319867
sounds very good
thanks for the info goys

It's over bought at the moment, there's other gains to be had in the short to mid term, if you plan on holding for a long time (12+ months) and have some stack to spare, it's worthwhile.

I'll be taking advantage of other opportunities until then though

>>13319707
>Now, how do you use the token to pay for blockchain fee if it is valueless?
And you call me a retard LMAO, like I said the fees are paid with ETH, BTC and DGB, and on the client's end is paid in FIAT.
>>13319794
>they don't need to constantly calculate pricing based on changing exchange and gas rates of different blockchains
exactly, they just pay in FIAT and there is not need for a shitcone that is changing price at every second

Also for for both of you dummies, tracking the costumer operations/balances doesn't need blockchain tech at all.

>>13319933
Better than 4 coins changing price at every second? Client pays fiat for tokens but still controls their wallet to pay for validations and as i said it makes it more simple and effecient to use one token to calculate validation costs than 4 tokens

>>13319933
Also their are tokens which much much shittier use cases that have a much higher valuation from VIDT such as QNT. So even if you were right, which you are definitely not does not mean this won't moon.

>>13319933
Lol Ranjesh, didn't you see the direct quote from the whitepaper saying the token is used for validation fee on the indexing blockchains?

What's easier for the team to convert the fiat they receive from their clients to buy the BTC, eth, etc... or just trade the tokens they already sold to their clients for the eth and BTC?

>>13319967
No, they pay FIAT for the service.
Also I'm realizing you are dumb as shit, validation it's fucking free wtf.
Even more, the changing price of ETH, BTC and DGB is irrelevant since you don't need to hold them and the fee for writing in them is literally fractions of a penny.
>>13319976
that's not what we are discussing here

>>13320041
The fiat is easier because the token and ETH/BTC are both changing in price exposing yourself to double volatility

>>13320089
>>13320149
Holy fuck lol you guys are retarded. They pay for a $VIDT token bundle you absolute retards.

And once again from the whitepaper:

The token price must be high enough to cover the operational costs of V-ID,
including Ethereum and Bitcoin transaction fees.

>>13320233
No, they don't. They pay for the service.
The token bundle shit is made just for leeching from cryptotards and hence why I've been saying it's a HUSTLE and the token is literally not needed.

>The token price must be high enough to cover the operational costs of V-ID
How do you interpret that nigger? how a token with higher price will be beneficial for them? because they are buying it from the market remember?

>>13320089
They pay for bundles and use that VIDT to validate files so validation is not free. V-ID does all the conversion for them into different cryptos to cover gas fee. Again token is needed to validate files and track file to client, VIDT is also needed to cover gas fees. Company does not need 4 crypto wallets to cover gas feed whenever they do a validation all they need is VIDT which is simple effecient. VID the company takes care of all the heavy lifting. If you can see how this dramatically improves workflow for clients and makes integration easier; I don't know what to say except you are the one who is dumb as shit bud.

>>13320271
Wrong they have a wallet they use to validate files . They send tokens to validate files that is why they buy the tokens in bundles.

>>13320284
Yes, it's fucking free. See the image above, straight from their website.

Also looks like you don't understand how this works, validation is done using an app, it's free because you don't have to write anything in the blockchain to do so.
LOOK AT THE PICTURE ABOVE NIGGGGUR

>>13320271
You are beyond saving if you wont even take a few minutes to understand the role of the token.

>>13320292
Wrong, they never touch a wallet of a token.

>>13320332
The role is to leech from cryptoniggers because otherwise adds zero value and only overcomplicate things.

>>13320355
Again the customer does need the token and wallet. What do they call VID on the phone to make a validation for them. The do it via a UI From the tokenomics paper:

Action 1: Customers buy V-ID token bundles from V-ID. V-ID initially reserves 25 million V-ID tokens in the Main Wallet for these transactions.

Action 2: A transaction with V-ID tokens takes place for each validation. The tokens spent for validation are transferred to V-ID’s Validation Wallet.

Action 3: 80% of tokens spent, will be returned from the Validation Wallet to the Main Wallet.

I'm done arguing with you. Don't buy VIDT now cry later

>>13320344
You can look at the validation wallet right now you brainlet. Each time a user authenticates or validates tokens are sent from their wallet effectively identifying the user. The tokens record information about the file and pass on that information to the indexing blockchain. The tokens are converted to pay fees on the indexing blockchains.

>>13320412
>Action 1: Customers buy V-ID token bundles from V-ID
Except they don't, look at their website or the fucking image I posted above. They pay a fixed fee every year, unlimited validations/verifications.

THE WHITE PAPER AND THEIR WEBSITE HAVE CONFLICTING INFORMATION, THIS TOKEN WAS MADE TO TAKE ADVANTAGE OF RETARDS.

>>13320473
They pay fiat, and are given the tokens needed for the amount of authentications included in the bundle you mongoloid.

>>13320427
Explain this image then. FIXED FEE. That means everytime you check the autenticity of your document is 100% free.

>>13320503
Man the fee to pay is fixed, the validation fee never changes the VIDT pricenisndinamycally adjusted so that the fiat cost equivalent never changes.

>>13320514
Sorry meant to say the validation cost in VIDT is dynamically adjusted so that the cost in fiat remains concstant

>>13320514
There is not validation fee. Look at the image for fucks sake, that is was actual clients are seeing when trying to contract the service.

>>13320550
Dude VIDT tokens must be spent for every authentication validatioms are free

>>13320567
Let's get this straight
VALIDATION: When the document hash is uploaded to the blockchain
VERIFICATION: When you compare the hash of one document against other

What do we see in this pic? verifications are free and validations too (they are covered by the fixed montly fee)

>>13320600
The amount of tokens required for validation changes dynamically based on the fiat price you fool.

>>13320610
No, they are free look a my fucking image

Old tech, Tierion & Factom already offers this since at least 2017.
Their tech is real & used but their tokens got no value. Go check desperate bagholders on respective projects channels if you don’t believe it.
It’s an utility token, not a speculative asset. Game over retards.

>>13320664
okay but it doesnt matter if its an utility token or speculative asset here in this "space" i guess

>>13320600
Tokens are needed for validation bit not verification.

>>13320755
Come the fuck on, I attached the same screencap from their website 3 fucking times where you can see validation is free and you niggers don't even bother to open it FUCK

>>13320664
Tierion has a cap of 8.7m that is about 2.5x of VIDT and Factom has a cap of 81m that is about 25x from VIDT. Not going to get into similarities and differences between these projects but Factom is a chad project but Tierion is a total shit tier project. Anyway I expect VIDTs market cap to approach Factoms someday because VIDT is also a chad project. With a more simple use case that normies can understand than Factom.

>>13320796
Obviously for the number of verifications which a client gets for free per month are not actually free because they are charged a monthly fee and the number of tokens which are sent to the validation wallet I would assume would be the fiat equivalent for what they would pay for when they use up all their free tokens. Anyway a good question for the team to clarify.

finally did my own research on VIDT. Wtf they have airbus as a partner???

>>13320796
Just look at the validation wallet. Each authentication costs 19 vidt right now

>>13321058
That's the point nigga, there is conflicting information all over the place just affirming that this is a big ass HUSTLE to leech from crypto "investors"
>>13320868
>I would assume would be the fiat equivalent for what they would pay for when they use up all their free tokens
you are assuming wrong, what you see is what you get
>>13320967
You might invest in birdchain as well, they have facebook and google as clients LMAO

>>13320967
airbus will verify their partnership witin the nex days/weeks

>>13321137
You are 100% wrong. Each authentication requires the VIDT validation fee as the wallets are tied to the authenticator identity. They KYC the authenticators and tie the VIDT address to that person. It's fundamental to how the platform operates Ranjesh, now shoo

>>13321137
Big ass hustle with customers such as Airbus, big ass hustle just recieved grant from Dutch government, big ass hustle partnering with CMS law a global law firm. GTFO. And yes the mechanics of the pricing vs token usage can easily be clarified by the team but as i said the pricing is likely adjusted dynamically. The token burned happened and was fully audited by a community member. Your weak fud is laughable.

>>13318926
Cant wait until this scam dies out and the shillers kys... fucking discord trannies

>>13321243
You're a fucking retard. Too retarded to understand the KYC mechanic of the system and how the tokens being sent authenticator serves to verify the identity of those indexing the files in the blockchain. It's actually very simple, clever and a very good use case for the token.

>>13321253
The amount of illogical fud around VIDT actually makes me more comfy

>>13321265
We're arguing with a literal schizo

>>13321243
Nah, discord trannies already left the boat, what you are dealing with here are deluded bag holders.
>>13321253
COPE
>>13321265
COPE MORE

>>13321332
No arguments just saying cope doesn't mean shit. The token is demonstrably used for identification purposes in every authentication. The tokens are also use to pay the fee on the indexing blockchains. The tokens get burnt and market bought every quarter.

Soon any consumer will be able to index files with a consumer app using the VIDT token.

You are the one coping with your poor understanding or shady accumulation tactics.

>>13321332
Yes bagholder holding a token with $3m market cap, real world use case with clients like airbus, quarterly token burns, chad team, and very low supply. Yeah proud to be a VIDT marine or bagholder as you call it. Just wait a few weeks when youtubers start to notice you will be coping 1000x times harder.

>>13321194
>partnership
Clients, and even birdchain has google and facebook as clients just let that sink in
>>13321234
>It's fundamental to how the platform operates
It's fundamental for the HUSTLE but not for the service, again pic related
>>13321236
You niggas are having a hard time understanding this simply because you refuse to see that the token is not needed, the service is legit, the token IS NOT.

>>13321444
Ummm bringing another projects supposesly fake partnerships proves nothing. Look at their website and the companies history dont be stupid. Anyway they burned 159k tokens this quater which means approx 5% of the total supply of tokens was used for validation. The pic means nothing obviously the token is used in every validation. We will repeat ourselves until you shoo

>>13321527
>The pic means nothing obviously
Are you serious? That pic is in direct conflict with what they have been selling to crypto "investors"

And I'm bringing other proyects because they also had big companies as CLIENTS and still were just big ass HUSTLES

>>13321591
I also must add that lying to crypto "investors" is not ilegal, but lying about your services will get you in jail so this pic has much more weight that any whitepaper.

>>13321591
I told you that the pricing is done dyamically obviously they are using the tokens for validation and customers are paying for those tokens. Specifics of pricing vs token use can easily be clarified by the team in an ama or something. That photo does not prove the token is not being used the validation wallet proves the token is in fact being used. There is nothing to suggest that the customers are fake. and the validation wallet proves significant use of the TOKEN and SERVICE already. See you at 10x

>>13321627
>That photo does not prove the token is not being used the validation wallet proves the token is in fact being used
tell me how, you can clearly see free validations and verifications

>>13321670
Its not free because they are paying a monthly rate. So no its not free. Tokens are still used. Validation wallet use of approx 5% of the supply proves me right.

>>13321677
There clearly says free pal

>>13321718
Above it is says 49 euros or 149 euros per month billed yearly pal. Those companies that signed up paid a year up front and got xyz tokens to validate xyz # of files.

Don't know or care what it does but I made good profits on it.

i bought 6k at 70k vits.
what am i gonna do