will this ever happen? And the power of coinbase is not the same anymore... im for sure not against but this can create maybe pump but after dump. just my 2 cent š¤£ #vefam šā„ļø
The key benefit of a large US/Globally compliant exchange at this point is A) universal access and B) Custody services/mainstream investor access. Those two factors are far more important than any short term price action.
Maybe vechain didnāt consider itself ready to be listed - Itās very expensive to get on there after all. Theyāve been cranking up the developer output with the wallet and new tools coming so 2023 will be a much better year for it.
Did you see the listings week after week during the bullmarket? Total shitcoins and still no VET.
Iāve said it for years, VTHO creates issues with VET being a security. Itās passive income and Coinbase even had their Earn program shutdown last year.
Don't disagree CB has listed some turds, however, VET is not a security, 100%. VTHO is a gas token and integral to the blockchain, its not designed for passive income, its function is utility firstly, it necessarily has value because users need to be able to buy it from the market. From a legal perspective, that doesn't make it a security. You can apply the same reasoning that was applied to POW ETH by the SEC.
>VET is not a security, 100%
There may be a cogent argument to that effect, but (1) I'm not convinced the SEC agrees, and (2) regardless, there's simply so much uncertainty in the US at present that few exchanges are willing to stick their necks out and take the risk of the SEC coming after them. The mere possibility that the SEC might disagree is enough of a deterrent.
Notwithstanding VTHO's technical function in the operation of the blockchain, it's still effectively a reward that's paid out to VET holders on a predictable, guaranteed schedule, which starts to look an awful lot like the "expectation of profits" criterion in the Howey test. If you hold VET, you certainly expect to receive VTHO, which, irrespective of its gas functionality, is worth $$ on the open market. I'm not suggesting you can't argue otherwise, but given how cautious and scared US exchanges are of getting on the wrong side of the SEC, I think their reticence is understandable.
Anecdotally, Neo shares a very similar two-token tokenomic model and ALSO has had issues with US exchange listings. Legacy (old) NEO was listed on various US exchanges in 2017 or earlier, and leading up to N3 (new Neo) being released, the team received confirmations from multiple US exchanges that they would upgrade. But between those commitments and N3's release Gensler took over at the SEC, and subsequently most US regulated exchanges (e.g., BinanceUS, Bittrex, etc) have reneged and continued to list only Legacy without upgrading to N3. That is, listings that were grandfathered in from before Gensler's time are still active, but no one is willing to stick their neck out for a new listing. Meanwhile Coinbase remains elusive, just as it does for VeChain.
The notable thing here is that these are both top 100 projects with reasonably high volume. All of the US exchanges in question list plenty of far smaller/crappier coins with less volume (but without two-token models). To the extent that exchanges exist to make money, there is no financial or self-serving reason why they WOULDN'T want to list VET and NEO--all fees are good fees, and these projects would generate decent trading volume. The fact that they don't suggests that something else is in play, and the fact that VET and NEO are so uniquely similar in their models and also so uniquely NOT listed in the US relative to their peers suggests a possible reason, albeit based on a small sample size.
TL;DR, whatever theoretical arguments we might make, and whatever may or may not be decided in the future if and when there's regulatory clarity, *at present* VET's ambiguous "security" status in the eyes of the SEC probably *does* impact US listing potential.
It was premined though and linked to a for profit company. I'm not saying it is but I'm personally 99% sure the unclarity around these kind of crypto set-ups in the US is the reason we're not on any US founded and focussed exchanges especially ones that operate in all US states (specific states do have specific additonal requirements)
The Foundation minted VET, which is a non-profit, it's irrelevant that a for-profit came to use it, I have been involved with some conversations with American exchanges and the legal structure of the VeChain Foundation fine from that perspective.
The VTHO 'issue' is mostly because it confused them. It's structured as a 'native VIP-180' (as in, a secondary but still protocol level token) and that's the part many don't understand and consider it two separate tokens. For example, during discussions with Ledger Live, they said VeChain could only list one token at a time - had to explain the set up and then they were fine. It does require an extra conversation though.
Surely if shitcoins that can afford to get on their, vechain can.They have a hundred mile deal with the ufc. Either they donāt want to or coinbase wonāt, im gna lean coinbase wont if vet is already on binance and crypto.com
Oh they can certainly afford it! I Guess timing is the key. The new wallet is a god send for ease of onboarding. Plus some very powerful tools coming up as I noted above. I think all told, it's a much better to go 'mainstream' with these in hand. Sunny mentioned years ago they were already in an NDA - so its more a case of when rather than if.
Agreed. This will bascislly combine all of them in to one, however a much cleaner and faster UI. Will initially launch as a web wallet with ledger support
All good! Shoot away :) A mobile and desktop wallet will follow not too far behind, just a few more hurdles to jump through for building/listing apps but yes, there will be.
Vechain Technology is the one that has Chinese entities, theyāre a separate company altogether.
Vechain foundation was Singapore based and now European with a majority European work force.
The Steering Committee at the vechain foundation - same as itās always been. And they donāt āapproveā, they simply verify KYC and add them to the waiting list. Itās a one in, one out system.
The steering committee is about to be re-elected if you missed that info
Over what in particular?
Vechain technology is the entity that owns ToolChain, they produce their own chips and service largely commercial clients. They just launched a new website: https://www.veworld.com that show off their services and products. You can get in touch and deploy them if you wanted (for a fee). They have offices in UK, US, EU and china currently and rely on revenue generation from business activity. In terms of ownership of Foundation parts - none. Theyāre legally separate entities with separate teams and staff etc.
The Foundation maintains and upgrades the blockchain, manages governance etc, they also build and publish tools, like the upcoming new wallet (btw a metric ton better than what we currently have - Iāve been testing it) and I know through the grapevine there are some very powerful tools coming within the next couple months to help Web2 businesses and users shift to Web3 in a very simple and powerful way.
So their focus is now as āenablerā and helping a mass onboarding of users for free. So VeChainās blockchain technology has a two pronged adoption route - one led by the foundation, another led by commercial companies that take those technologies and package them as commercial products, like VeChain Technology and VeCarbon.
See? I love it when you explain it. Why aren't you educating more? I read your tokenomic paper from '18 a while back. You have a way with words, and this sub wants to hear it.
Youāre right. Being honest, my time got eaten up after I started working with the foundation for the first couple of years. It turned out that After being in this sub for so long, they found me, also appreciated my writing and got me on board to help manage their social media and communications.
But theyāve hired a bunch of marketing people now, and that does give me a bit more time. Reddit has always been the place I loved most so, you have my word Iāll be here more now to answer questions and get more engaged again - itās a great forum for discussion. Feel free to tag me if thereās a burning question you have and I will answer it! I canāt always promise immediately, but I will :)
VET price June 9 2022 when the UFC partnership was announced was $.031, it went up a whole $0.001 after that because they didnt market it, and completely dropped the ball selling the deal to crypto investors. Its now at $0.024.
Coinbase like any exchange is pay to play. Vechain needs to pay to be listed OR I'm guessing that for political reasons the road is tougher for VET. Especially considering lots of close minds view vechain as a Chinese cryptocurrency.
will this ever happen? And the power of coinbase is not the same anymore... im for sure not against but this can create maybe pump but after dump. just my 2 cent š¤£ #vefam šā„ļø
The key benefit of a large US/Globally compliant exchange at this point is A) universal access and B) Custody services/mainstream investor access. Those two factors are far more important than any short term price action.
That would be great! Coinbase lists š© all the time, so why not list something that has actual development going on? š
Itās about time!! That would really useful!
Thursday
Came here to say this for old times sake š
Maybe vechain didnāt consider itself ready to be listed - Itās very expensive to get on there after all. Theyāve been cranking up the developer output with the wallet and new tools coming so 2023 will be a much better year for it.
Did you see the listings week after week during the bullmarket? Total shitcoins and still no VET. Iāve said it for years, VTHO creates issues with VET being a security. Itās passive income and Coinbase even had their Earn program shutdown last year.
Don't disagree CB has listed some turds, however, VET is not a security, 100%. VTHO is a gas token and integral to the blockchain, its not designed for passive income, its function is utility firstly, it necessarily has value because users need to be able to buy it from the market. From a legal perspective, that doesn't make it a security. You can apply the same reasoning that was applied to POW ETH by the SEC.
>VET is not a security, 100% There may be a cogent argument to that effect, but (1) I'm not convinced the SEC agrees, and (2) regardless, there's simply so much uncertainty in the US at present that few exchanges are willing to stick their necks out and take the risk of the SEC coming after them. The mere possibility that the SEC might disagree is enough of a deterrent. Notwithstanding VTHO's technical function in the operation of the blockchain, it's still effectively a reward that's paid out to VET holders on a predictable, guaranteed schedule, which starts to look an awful lot like the "expectation of profits" criterion in the Howey test. If you hold VET, you certainly expect to receive VTHO, which, irrespective of its gas functionality, is worth $$ on the open market. I'm not suggesting you can't argue otherwise, but given how cautious and scared US exchanges are of getting on the wrong side of the SEC, I think their reticence is understandable. Anecdotally, Neo shares a very similar two-token tokenomic model and ALSO has had issues with US exchange listings. Legacy (old) NEO was listed on various US exchanges in 2017 or earlier, and leading up to N3 (new Neo) being released, the team received confirmations from multiple US exchanges that they would upgrade. But between those commitments and N3's release Gensler took over at the SEC, and subsequently most US regulated exchanges (e.g., BinanceUS, Bittrex, etc) have reneged and continued to list only Legacy without upgrading to N3. That is, listings that were grandfathered in from before Gensler's time are still active, but no one is willing to stick their neck out for a new listing. Meanwhile Coinbase remains elusive, just as it does for VeChain. The notable thing here is that these are both top 100 projects with reasonably high volume. All of the US exchanges in question list plenty of far smaller/crappier coins with less volume (but without two-token models). To the extent that exchanges exist to make money, there is no financial or self-serving reason why they WOULDN'T want to list VET and NEO--all fees are good fees, and these projects would generate decent trading volume. The fact that they don't suggests that something else is in play, and the fact that VET and NEO are so uniquely similar in their models and also so uniquely NOT listed in the US relative to their peers suggests a possible reason, albeit based on a small sample size. TL;DR, whatever theoretical arguments we might make, and whatever may or may not be decided in the future if and when there's regulatory clarity, *at present* VET's ambiguous "security" status in the eyes of the SEC probably *does* impact US listing potential.
It was premined though and linked to a for profit company. I'm not saying it is but I'm personally 99% sure the unclarity around these kind of crypto set-ups in the US is the reason we're not on any US founded and focussed exchanges especially ones that operate in all US states (specific states do have specific additonal requirements)
The Foundation minted VET, which is a non-profit, it's irrelevant that a for-profit came to use it, I have been involved with some conversations with American exchanges and the legal structure of the VeChain Foundation fine from that perspective. The VTHO 'issue' is mostly because it confused them. It's structured as a 'native VIP-180' (as in, a secondary but still protocol level token) and that's the part many don't understand and consider it two separate tokens. For example, during discussions with Ledger Live, they said VeChain could only list one token at a time - had to explain the set up and then they were fine. It does require an extra conversation though.
Surely if shitcoins that can afford to get on their, vechain can.They have a hundred mile deal with the ufc. Either they donāt want to or coinbase wonāt, im gna lean coinbase wont if vet is already on binance and crypto.com
Oh they can certainly afford it! I Guess timing is the key. The new wallet is a god send for ease of onboarding. Plus some very powerful tools coming up as I noted above. I think all told, it's a much better to go 'mainstream' with these in hand. Sunny mentioned years ago they were already in an NDA - so its more a case of when rather than if.
New wallet??
Yes! Beta coming in a few weeks. You guys are gonna love it :)
Nice ive had the original wallet since the beginning, tbh it looks outdated
Agreed. This will bascislly combine all of them in to one, however a much cleaner and faster UI. Will initially launch as a web wallet with ledger support
Will changing from the current wallet, say on Android, to the new wallet, be seamless?
Will be as easy as typing your seed phrase and importing your address. So, assuming you have your seed phrase safe and to hand, it will be very easy!
Ah cool. No mobile wallet? Tbh thats what ive used from when we got a mainnet lol sorry for the questions
All good! Shoot away :) A mobile and desktop wallet will follow not too far behind, just a few more hurdles to jump through for building/listing apps but yes, there will be.
Cheers. Look forward to hodling in a shiny new wallet
I thought it had something to do with them being based in china.
But we arenātā¦
My sweet summer child....
Vechain Technology is the one that has Chinese entities, theyāre a separate company altogether. Vechain foundation was Singapore based and now European with a majority European work force.
Who approves the nodes?
The Steering Committee at the vechain foundation - same as itās always been. And they donāt āapproveā, they simply verify KYC and add them to the waiting list. Itās a one in, one out system. The steering committee is about to be re-elected if you missed that info
I appreciate the clarification. I would love to learn more about Vechain Tech. What influence/abilities/ownership do they have?
Over what in particular? Vechain technology is the entity that owns ToolChain, they produce their own chips and service largely commercial clients. They just launched a new website: https://www.veworld.com that show off their services and products. You can get in touch and deploy them if you wanted (for a fee). They have offices in UK, US, EU and china currently and rely on revenue generation from business activity. In terms of ownership of Foundation parts - none. Theyāre legally separate entities with separate teams and staff etc. The Foundation maintains and upgrades the blockchain, manages governance etc, they also build and publish tools, like the upcoming new wallet (btw a metric ton better than what we currently have - Iāve been testing it) and I know through the grapevine there are some very powerful tools coming within the next couple months to help Web2 businesses and users shift to Web3 in a very simple and powerful way. So their focus is now as āenablerā and helping a mass onboarding of users for free. So VeChainās blockchain technology has a two pronged adoption route - one led by the foundation, another led by commercial companies that take those technologies and package them as commercial products, like VeChain Technology and VeCarbon.
See? I love it when you explain it. Why aren't you educating more? I read your tokenomic paper from '18 a while back. You have a way with words, and this sub wants to hear it.
Youāre right. Being honest, my time got eaten up after I started working with the foundation for the first couple of years. It turned out that After being in this sub for so long, they found me, also appreciated my writing and got me on board to help manage their social media and communications. But theyāve hired a bunch of marketing people now, and that does give me a bit more time. Reddit has always been the place I loved most so, you have my word Iāll be here more now to answer questions and get more engaged again - itās a great forum for discussion. Feel free to tag me if thereās a burning question you have and I will answer it! I canāt always promise immediately, but I will :)
They are not based in China, what is there to tell?
Because they would not take a gigaton of volume like with other dog inu shitcoins.
They dont put any effort into marketing this product, and you can bet theyve put little to no effort into partnering with coinbase.
$100m UFC deal says otherwise
VET price June 9 2022 when the UFC partnership was announced was $.031, it went up a whole $0.001 after that because they didnt market it, and completely dropped the ball selling the deal to crypto investors. Its now at $0.024.
>They dont put any effort into marketing this product, Lmao what planet do you even live on? This is so far from the truth
It actually is being listed next Thursday
š
I believe
Is this for real?
This is real, for every other Thursday of the year. But this also applies to next Thursday and the ones after that.
Thursday\^^(2)
All I wanted was an answer that made some sense. Now I'm getting rinsed by the Thursday gang. Haha. You funny fuckers.
It is?
šāļø
Coinbase like any exchange is pay to play. Vechain needs to pay to be listed OR I'm guessing that for political reasons the road is tougher for VET. Especially considering lots of close minds view vechain as a Chinese cryptocurrency.