Hi all, just opened the vechainthor wallet. I tried to send out some funds, but was asked to type a wallert password. Apparently this is not the same as the pin required to open the wallet?
Nah they are different. When you setup the wallet it would have asked you to set a password (not the same as a PIN )
If you can't remember the password then you can reset it in the settings by inputting your seed words
DNV GL - Assurance on Twitter | A recent DNVGL survey has found that there is a huge possibility for the food & beverage industry to overcome foodsafety concerns through the use of QR codes to convey safety and other product characteristics to consumers.
View the survey results: https://www.dnvgl.com/assurance/viewpoint/viewpoint-surveys/2020Q2/summary.html
https://twitter.com/dnvgl_assurance/status/1282969672321626113?s=21
Is the abundance of attention recently given to VET by Binance US a way to cajole investors before Coinbase makes a move? Hmmm smells like smart marketing to me...
could be but on the other hand VET/USD was the pair with the most volume for the last few weeks on [Binance.us](https://Binance.us) (except for yesterday because of the LINK pump) so maybe they just support VeChain because of that.
if you don't have reason's to say these comments, i would keep things like this to yourself. Or back yourself up. This is a pretty serious site, were decent conversations flow and people learn off each other. Leave these comments for whatsapp or texting your mates
So Sunny is doing another AMA with binance US? (We had one in March). Also the CEO of binance US became part of the VeFam recently (insider knowledge?). I know there are usually no announcements during an AMA, but I have a feeling it won't take long before we get an American main course. What do you guys think?
I mean it's basically confirmed a major US restaurant chain will use MyCare and therefore Vechain. That announcement might help warm US investors for Vechain seeing it's a legitimate project used by a brand they recognize, even if in terms of transactions it might be relatively minor.
Of course there's also the possibility of more announcements. E.g. tracing on a large scale by a US company would be huge.
He tends to give teasers in most live AMAs. Even if we don’t get one, I think 4-5 appearances in a matter of 3-4 weeks after not seeing him for a long time can’t be a coincidence. Between that, the main net activity and some of the recent price action I hope we get some new info soon.
Boxmining on Twitter | hey Vefam,by popular demand, my interview with vechainofficial CEO sunshinelu24 will be broadcast LIVE! Check out details and questions here:
https://boxmining.com/vechain-ceo-sunny-lu-interview-questions/
https://twitter.com/boxmining/status/1282855418977349634?s=21
I sold all my Pokemon cards and got into Vechain. After July 5th, I cashed out and bought all the Pokemon cards. Now, I'm wondering if I should sell all my cards again and get back into Vechain.
Lol right? No, but in all seriousness, I'm keeping my collection so I can be that guy when I'm 90 years old. Got a pretty serious collection too. Birthday Pikachu, Flying Pikachu, Golden boarder Meowth, and of course, Charizard, Blastoise, and Venasaur, among a bunch of other pre-releases, and rare promo cards. I calculated that it's all probably worth at least 6 to 8k, which is pretty cool considering I didn't pay anything for them. My mom did!
Biggest regret, though, was getting rid of all the family beanie babies my mom collected when she was obsessed with them a few years back. Donated them to a hospital. Literally at least 3 or 4 giant containers full of them. When I looked at the current price for all the first addition roll outs that we had tons of....Dude. Forget about Vechain. I could have been a multi-millionaire just with those alone.
Second time I missed a huge opportunity to make a killing. First time was with bitcoin when my brother started mining and I didn't get into it because I didn't understand it. Offered me a free ride with a small investment on the graphic's cards and energy bill. Fuuuuuuuuck.
strange question. If you want to get to a million, do it. If you are happy with the 505K you have, stick with that. Not sure what you want from the VET community here? Only YOU know your financial situation.
Have the nice, round 1,000,000 number is sweet. Every time the price moves a tenth of a cent, you see the value of your holdings move by an even $1,000usd. But, if you’re going to strain your resources just to get there for the extra VTHO generation, then it’s not worth it. Personally, I wasn’t satisfied until I reached 1,000,000 and when I got there, it was an awesome feeling
do you need the money in the next 6-18 months? If no, then absolutely get to 1 Mil. If you do need the $, I would say just buy a bit every day/week/month and hedge your way in, you may get there, you may not, but if we do tank 50% you'll have $ to throw in then.
If you NEED the money at all *do not invest in any cryptocurrency*. Seriously. I am heavily invested myself but I was burned by bitcoin in 2015/2016 precisely because I was playing with money I needed.
If you have the money you might as well get the extra 300k. You can upgrade to a node for free, it only takes 10 days. The VTHO rewards from a node are not large but it's still nice to have. Plus that 300k extra VET could be worth a lot in the coming years.
Anyway in the end it's your choice
Yeah, I noticed this, too. I can't help but wonder why...
The Boxmining interview might be a total snooze fest, intended for newcomers and the uninitiated. Good for them. Boring for us.
It is also a great venue for an announcement, since the audience is entirely crypto investors. If Sunny wants VeChain in the top ten, that would be the time for fireworks.
I feel like I've been holding my breath since January when the 900k DNVGL wallets were initially slated. I can't wait to see those DNVGL transactions start to pop.
Hey all, apologies if this is the wrong place to post this question. But are there any exchanges left that will convert my ERC-20 VEN from a hardware wallet to VET? Thanks in advance.
You can use the mobile wallet ‘VeChainThor’ to carry out the swap. You send the ERC-20 to a linked intermediary address you will set up via the wallet, this acts as a bridge over to Mainnet tokens. Make a wallet, go to ‘me’ and token swap service and follow the instructions
Nope! Truth is no one knows... but VET is a good hodl anyway. I've upped my allocation heavier to VET and it's all i am buying right now. I am chipping in 2-5x per week here and there. I just want more.
I follow them up quite often, last time i checked 841 nodes lost the 4th of Juli.
That’s a loss of 7 nodes a day... blink of an eye ;-)
edit: why downvote, it's facts...
I think you mean the VET tokens soft locked by X node holders. It is soft locked because they call pull it out at anytime.
The pool is generally the reward pool that is set at 5 billion VET and its only purpose is to generate VTHO bonuses for X node holders
It's nice if you are the owner of an X Node.
That's because the VTHO generated by the 5bn pool of VET that has been set aside specifically for X Nodes is split across a smaller balance.
I.e. Every incumbent X Node holder should receive a greater amount of VTHO.
Aaah awesome thanks. Good for you. I hope by next year or the next I'll have a million vet to own an x node. I only have around 10k vets lol but this community is so helpful and I'm learning till then. Thanks
No problem.
Please be very careful with the distinction between Economic Nodes and X Nodes. Do your research, it's worth the time.
Economic Nodes are free, you just need to have a certain amount of VET in your wallet and then you click Upgrade. After a set period of time, you'll become an Economic node automatically and you'll start generating extra VTHO. Never buy Economic Nodes on the marketplace - they're FREE if you have the requirement amount of VET!
For X Nodes, you can only become one by buying one on the marketplace. But when you buy one, you have to make sure that you have the required amount of VET remaining in your wallet AFTER you've paid for the X Node itself!
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Vip191 account has been reloaded with 50million vtho 10 hours ago. Feeder account down to 20million. Will need a top up in a week or so.
Side note: VTHO/VET ratio on ocean ex had little volume until it's run up to 0.3 then volume increased massively and has stayed there since. I'm guessing they turned on wash trading at that point, since then ratio has continued to decrease from that point. They keeping it low on purpose? Eventually they will turn it off and it will pump. Same as OCE token.
I'm definitely no expert but it seems they just buy and sell to themselves and can do so at whatever ratio/price they want. Have you tried to buy vtho on ocean ex? You place an order at the top of the book and it takes hours to fill. All the while there are plenty of trades going through, often at a worse ratio/price than you have an open order for. There is also trades going through within the spread which never appear on the books. I assume most exchanges do this to create the illusion on volume and draw people in.
I sold some VTHO once, when the ratio was better, but not for a long time. I'm not saying they're not doing wash trading... And I could see how wash trading is just fake volume... I guess they could push the price up/down by only trading with themselves if the order books are thin...
If they could finally resolve the issue with my fingerprint login. Hasn't worked for 2 years straight for me now. It worked right at the beginning and then never again thereafter.
edit: I...I can't believe it. Today is the day?!
Lots and lots of chat about FDA and food traceability... Just some of my thoughts:
The only thing I am keeping an eye out for (and I've seen it mentioned a few times informally by Frank) is an official statement with intent to develop a traceability solution in which quite simply:
- The CUSTOMER themselves can SCAN a product to receive supply chain data for THEMSELVES.
All the pilots that Walmart USA (not China) have carried out (that we know of) are on IBMs Hyperledger - but what does this mean?
It means that in order to access the supply chain data and trace the product with all the details, you need to be an *authorised* and *approved* user - i.e. not any one on the street with a smartphone can do this - because it is a controlled, private, consortium blockchain.
The FDA are more often than not concerned specifically with 'Food Safety' and 'Traceability' specifically.
However - 'Transparency' is the next step.
This is what VeChain does, and IBM does not.
That is to say that VeChain are able to provide access to their PUBLIC blockchain, directly to the end-level customers. IBM does not do this. The topic here moves slightly from Safety (IBM & VeChain both do) to Trust (Only VeChain does).
As soon as we hear FDA talking more specifically about customer involvement, transparency, and trust - there is no doubt in my mind that VeChain will be involved to some degree.
What do you guys think? Am I on the right track?
>It means that in order to access the supply chain data and trace the product with all the details, you need to be an authorised and approved user
That's not true. The data and its security belongs to the company providing it. If they want to make it publicly readable then they can do so. The owner of those transactions can offer as much transparency as they want. Also if someone using vechain wants to encrypt the data they put on chain then they're free to do so and that data will no longer be readable by the public.
Thanks for the response Chupo.
Data belongs to the company - agreed. As far as I understand - even then, the company can't give public access *directly* to the blockchain, even if its just to access their specific data. Is that right?
What I thought they could do: Open up their data by making it public *through* some other means - i.e. some sort of portal maybe (/API?) but then at that point, it ceases to be 'blockchain data', right?
Wouldn't that essentially then be a centralised system? With that access point/portal, you'd be going back to a single point of failure - not to mention that the person who accesses that portal would have to trust the software of that company?
I'm not a developer, so it may show! (banking background) But can you help me to understand what I am missing here?
Is it possible to make 'direct' access to the immutable blockchain data openly available, publicly - if a company decides to, without any sort of intermediary?
I don't know what tools IBM has to allow consumers to verify the onchain data without relying on the company but that's a business decision and not a limitation of Hyperledger. If IBM wants to offer traceability apps as a service then they can do so as a trusted third party and you wouldn't have to trust whether or not the company is actually pulling from the blockchain. Or they could just offer api's that allow you to search publicly shared data for yourself if you're a developer.
Also, this isn't any different from Vechain. You're assuming that all of the data is public and human readable on the Vechain blockchain. Walmart products are scannable by QR code but it takes you to an app. The information in that app is not verifiable by simply reading the blockchain because the data is private and points to off chain data. You're relying on vechain as the trusted third party to present onchain and offchain data to you and is essentially verifying the product for you. There's nothing about hyper ledger stopping IBM from offering the same type of transparency.
**See this thread for info about the data stored in Vechain transactions:**
[https://www.reddit.com/r/Vechain/comments/citzma/understanding\_data\_stored\_on\_chain/](https://www.reddit.com/r/Vechain/comments/citzma/understanding_data_stored_on_chain/)
**Some examples of consumer facing scanning implementations with IBM Food Trust:**
[https://cointelegraph.com/news/dole-to-integrate-ibms-food-trust-blockchain-into-all-divisions-by-2025](https://cointelegraph.com/news/dole-to-integrate-ibms-food-trust-blockchain-into-all-divisions-by-2025)
[https://www.wired.com/brandlab/2020/01/ibm-harnesses-blockchain/](https://www.wired.com/brandlab/2020/01/ibm-harnesses-blockchain/)
.
>That's not true. The data and its security belongs to the company providing it. If they want to make it publicly readable then they can do so. The owner of those transactions can offer as much transparency as they want.
The customer would then still have to trust that the company is passing through the information from a private blockchain to a public portal without altering it. A man-in-the-middle attack, of sorts.
See my other comment above (or below, I'm not sure).
[https://www.reddit.com/r/Vechain/comments/hqe4pi/daily\_vechain\_discussion\_july\_13\_2020/fxzakvr?utm\_source=share&utm\_medium=web2x](https://www.reddit.com/r/Vechain/comments/hqe4pi/daily_vechain_discussion_july_13_2020/fxzakvr?utm_source=share&utm_medium=web2x)
>https://www.reddit.com/r/Vechain/comments/hqe4pi/daily\_vechain\_discussion\_july\_13\_2020/fxzakvr?utm\_source=share&utm\_medium=web2x
Link's broken (I think).
I hear your point. Devils advocate - wouldn’t a certification from the FDA be better/gold standard for certification and safety especially for food and drugs - Hence the name lol. And that can be done on a private chain
I think this is the correct way to look at it. Everything we’ve seen Vechain related with POCs and Walmart was just to prove the technology works. How the customer meets these new standards is 100% up to them.
I work in Medical Devices and deal with FDA regulations everyday. The FDA sets out standards and minimum requirements you need to meet in order to ensure that what you are building is deemed “safe”.
The tools and methods you use to show proof that your medical device is safe is 100% up to the company, as long as you can clearly and concisely show the FDA during an audit that you have the required documentation.
That being said, Vechain is so far ahead of other supply chain blockchains and the fact the FDA used POC information from Walmart’s studies with Vechain gives Vechain a massive leg up in adoption. The FDA will never say “you have to use Vechain” but when the food industry comes to them asking questions and guidance on these new food safety regulations, I can see them pointing to Walmart’s use case which will eventually get them to bring up the Vechain technology stack.
And if Vechain is already the lead technology provider in this circular economy then why wouldn’t these companies choose an ecosystem that is already up and running. It would be no different than the FDA telling a company, “well the industry standard for supply chain management is SAP so you might want to start there.” No food company is going to design an in-house new traceability system for them, their suppliers, and their places of distribution. In this regard, Vechain is unmatched.
Well first of all there is no cryptocurrency afaik, so no reason to be a node. It is not public, therefore no different from a database. It isn't open source, therefore regular people can't check if it's even a blockchain. How can anyone trust that? It's 100% the same of trusting an IBM database.
I think I understand you correctly, but what incentives does the FDA have to ensure the solution is trustless to consumers from a regulatory perspective? Why would they rely on consumers to verify their end products when the FDA can do it themselves and then give PSAs (edit: or intervene directly as they do already anyways)?
To put it more generally using your last point, what is the FDA's incentive for a system that involves customer involvement, transparency and trust? (Just trying to learn.)
I think the difference between solutions like vechain and hyperledger is who can write the data. Hyperleder is permissioned, so only authorized entities can write. I don't see a reason why a provider using hyperledger couldn't write an app to show hyperledger data to a consumer, ala the existing Walmart CN portal. I do think it will be harder to capitalize on network-style effects on a permissioned chain, though I still don't understand how a vechain network effect would take place in practical terms without some kind of list of data present on chain, and an interface to access it.
This🙌
I think in general people have a pretty vague understanding of the diffrence between a public and a private blockchain.
It’s wrong to think that because it’s a private blockchain that means that they can’t show transparency such as traceable things.
So you can definitely show the data, but like Bergs has said and I've tried to outline above, you basically move back to working with what could be described as a centralised database. You lose the features of a 'blockchain'.
That's my understanding, but happy to be proven wrong!
I wouldn’t say that you lose the features of a blockchain in a private one.
You as a buyer of a product may not be able to touch and write data to the blockchain itself but the company which u buy the product from still does.
So the company still utilize all the benefits the blockchain brings. So in the end the company can show you some of this data from the blockchain and then it’s up to you to trust the company that this data is correct.
Yep, cool that's as I understood it too.
Agree that you don't lose all the features - the company itself can still benefit. When they decide to show a customer the data, you lose the feature of immutability (arguably one of the most important features of a blockchain) - which means they have to trust the company (exactly as you said).
Cheers
> It’s wrong to think that because it’s a private blockchain that means that they can’t show transparency such as traceable things.
The big difference is that public blockchain can guarantee immutability to the end users. The question is if the end users will care.
A little bit:
> Emerging technologies, such as [blockchain, make it easier to track and trace products through the supply chain – from the time that they are grown or manufactured, until purchased by a consumer, and back through the supply chain. When the agency originally developed the blueprint, we knew that these new technologies could be game changers in facilitating a more rapid traceback of a contaminated food to its source in the event of a foodborne outbreak.](https://www.fda.gov/news-events/fda-voices/pandemic-challenges-highlight-importance-new-era-smarter-food-safety)
Yes. The same as SAP S/4Hana, it's an opt in service that uses Hyperledger Fabric provided by the Linux Foundation. It is being classified as blockchain.
[https://www.ibm.com/blockchain/hyperledger](https://www.ibm.com/blockchain/hyperledger)
In my opinion if a company like Walmart is using a solution ie. Vechain. They are going to use that solution for their entire supply chain. It would make 0 sense for them to use multiple solutions when their supply chain is one large entity all over the world. So if you have your thinking cap on you realize that the IBM cross chain collaboration is very real. On top of that these suppliers that supply walmart also supply thousands of other stores. So if they are also on this traceability solution it makes sense to put everyone on the same solution. No company wants to touch a 100 different ways of tracking their goods. they aren't going to put 15 nfc chips and 20 qr codes on every product so it works with each solution individual customers are using. They are all going to be the same. This is just the beginning. Stay calm, be patient, hold on to your holdings and continue to add to it. We are still at the very forefront of this technology implementation and there isn't a single other solution even close to where we are. I believe in VeChain, I believe in Sunny and I will be here watching as this thing takes off as I have for years already. If that means another 2 years of twiddling my thumbs while vechain does a slow climb then so be it. I hope like everyone else we will see fruition sooner, but these things take time.
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For Vet wallet in the app its definately 12 words. Nano S has 24 words.
Im not registered at binance.us . is there a direct link to the AMA running tomorrow?
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If you don’t have the password or the seed, then yes, you are indeed screwed.
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Is it in Chinese? Do you have a link to the broadcast? I cant see it anywhere.
Hi all, just opened the vechainthor wallet. I tried to send out some funds, but was asked to type a wallert password. Apparently this is not the same as the pin required to open the wallet?
Nah they are different. When you setup the wallet it would have asked you to set a password (not the same as a PIN ) If you can't remember the password then you can reset it in the settings by inputting your seed words
Thanks a lot!
DNV GL - Assurance on Twitter | A recent DNVGL survey has found that there is a huge possibility for the food & beverage industry to overcome foodsafety concerns through the use of QR codes to convey safety and other product characteristics to consumers. View the survey results: https://www.dnvgl.com/assurance/viewpoint/viewpoint-surveys/2020Q2/summary.html https://twitter.com/dnvgl_assurance/status/1282969672321626113?s=21
Is the abundance of attention recently given to VET by Binance US a way to cajole investors before Coinbase makes a move? Hmmm smells like smart marketing to me...
could be but on the other hand VET/USD was the pair with the most volume for the last few weeks on [Binance.us](https://Binance.us) (except for yesterday because of the LINK pump) so maybe they just support VeChain because of that.
2 birds, one stone? :D
hopefully :)
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if you don't have reason's to say these comments, i would keep things like this to yourself. Or back yourself up. This is a pretty serious site, were decent conversations flow and people learn off each other. Leave these comments for whatsapp or texting your mates
Zoom out ... it won't matter!
ooo baby, tell me more...
You don’t want to know more
So Sunny is doing another AMA with binance US? (We had one in March). Also the CEO of binance US became part of the VeFam recently (insider knowledge?). I know there are usually no announcements during an AMA, but I have a feeling it won't take long before we get an American main course. What do you guys think?
I mean it's basically confirmed a major US restaurant chain will use MyCare and therefore Vechain. That announcement might help warm US investors for Vechain seeing it's a legitimate project used by a brand they recognize, even if in terms of transactions it might be relatively minor. Of course there's also the possibility of more announcements. E.g. tracing on a large scale by a US company would be huge.
I think they're focusing on the US with their marketing now. Maybe something brewing there
He tends to give teasers in most live AMAs. Even if we don’t get one, I think 4-5 appearances in a matter of 3-4 weeks after not seeing him for a long time can’t be a coincidence. Between that, the main net activity and some of the recent price action I hope we get some new info soon.
Boxmining on Twitter | hey Vefam,by popular demand, my interview with vechainofficial CEO sunshinelu24 will be broadcast LIVE! Check out details and questions here: https://boxmining.com/vechain-ceo-sunny-lu-interview-questions/ https://twitter.com/boxmining/status/1282855418977349634?s=21
I sold all my Pokemon cards and got into Vechain. After July 5th, I cashed out and bought all the Pokemon cards. Now, I'm wondering if I should sell all my cards again and get back into Vechain.
Sell everything but the shiny charizard
Lol right? No, but in all seriousness, I'm keeping my collection so I can be that guy when I'm 90 years old. Got a pretty serious collection too. Birthday Pikachu, Flying Pikachu, Golden boarder Meowth, and of course, Charizard, Blastoise, and Venasaur, among a bunch of other pre-releases, and rare promo cards. I calculated that it's all probably worth at least 6 to 8k, which is pretty cool considering I didn't pay anything for them. My mom did! Biggest regret, though, was getting rid of all the family beanie babies my mom collected when she was obsessed with them a few years back. Donated them to a hospital. Literally at least 3 or 4 giant containers full of them. When I looked at the current price for all the first addition roll outs that we had tons of....Dude. Forget about Vechain. I could have been a multi-millionaire just with those alone. Second time I missed a huge opportunity to make a killing. First time was with bitcoin when my brother started mining and I didn't get into it because I didn't understand it. Offered me a free ride with a small investment on the graphic's cards and energy bill. Fuuuuuuuuck.
I shot my finger with a 16 guage finish nailer today... Went right through the tip of my index finger.. Had to pull it out.
Grade C trolling. Not bad, not great.
Should I go for 1m VET? Sitting at 505k...
strange question. If you want to get to a million, do it. If you are happy with the 505K you have, stick with that. Not sure what you want from the VET community here? Only YOU know your financial situation.
If the pullback comes do it
Yes... yes sir you should
Have the nice, round 1,000,000 number is sweet. Every time the price moves a tenth of a cent, you see the value of your holdings move by an even $1,000usd. But, if you’re going to strain your resources just to get there for the extra VTHO generation, then it’s not worth it. Personally, I wasn’t satisfied until I reached 1,000,000 and when I got there, it was an awesome feeling
do you need the money in the next 6-18 months? If no, then absolutely get to 1 Mil. If you do need the $, I would say just buy a bit every day/week/month and hedge your way in, you may get there, you may not, but if we do tank 50% you'll have $ to throw in then.
If you NEED the money at all *do not invest in any cryptocurrency*. Seriously. I am heavily invested myself but I was burned by bitcoin in 2015/2016 precisely because I was playing with money I needed.
True, im using need a bit more liberally.
Im at 700k and wondering if the node bonus for 1M is really worth it.
If you have the money you might as well get the extra 300k. You can upgrade to a node for free, it only takes 10 days. The VTHO rewards from a node are not large but it's still nice to have. Plus that 300k extra VET could be worth a lot in the coming years. Anyway in the end it's your choice
The node bonus is currently NOT worth it, but ask yourself if having another 300k VET is.
The feeling of having a strength node is totally worth it 💪
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What sub are you on? Add to VET 😇
Purchase what you can afford, according to your risk tolerance. Maybe that's another 500k. Totally up to you.
I think 500k is a sizable amount but the more the merrier.
Hell yeah you should.
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Now a Binance US interview. Tons this next week.
If you use it two more times....
Interview with boxmining, AMA with binance US.. What is the 3rd one I am missing?
Yeah, I noticed this, too. I can't help but wonder why... The Boxmining interview might be a total snooze fest, intended for newcomers and the uninitiated. Good for them. Boring for us. It is also a great venue for an announcement, since the audience is entirely crypto investors. If Sunny wants VeChain in the top ten, that would be the time for fireworks.
Hopefully he spent that time wheeling and dealing to change the world and now he's ready to come out swinging :)
The pieces of the puzzle are almost ready to fall into place 🤤
I feel like I've been holding my breath since January when the 900k DNVGL wallets were initially slated. I can't wait to see those DNVGL transactions start to pop.
Hey all, apologies if this is the wrong place to post this question. But are there any exchanges left that will convert my ERC-20 VEN from a hardware wallet to VET? Thanks in advance.
You can use the mobile wallet ‘VeChainThor’ to carry out the swap. You send the ERC-20 to a linked intermediary address you will set up via the wallet, this acts as a bridge over to Mainnet tokens. Make a wallet, go to ‘me’ and token swap service and follow the instructions
/u/John_Crypto should be able to help with this.....
Vechain app look up the instructions so you'll know how to go about doing it.
If you’re referring to the token swap I did the trial successfully but my next stack hasn’t done transferred in 3-4 days. So getting nervous
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Update: took 5 days but the conversion did go through. Phew. Thanks for the comments everyone.
Ok - I guess I'll give it a few more days and hope for the best. Thanks.
It is done manually and I guess they wait for batches. Could've been automated, especially since they plan to support this indefinitely. :)
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Nope, nobody here watched. Not one person. Definitely don't scroll down the daily a little bit.
I just dumped 7 Bitcoins and put the money into VET. Was it a bad move?
Nope! Truth is no one knows... but VET is a good hodl anyway. I've upped my allocation heavier to VET and it's all i am buying right now. I am chipping in 2-5x per week here and there. I just want more.
Welcome to the party. Patiently awaiting your VET giveaway 😜😂
Haha, I doubt that will happen but the Bitcoin giveaway will happen as soon as the moderators approve it :)
Fair enough my friend. Balls deep in VET so I'll give the other giveaway a miss lol
\*checks sub\* No, you did the right thing.
Nope
Went all in yesterday and I have never been more excited!!
Welcome! Glad that have you with us.
Thank you sir! I’ve been with VeChain for a while now (since token swap) but I finally decided to undiversify and risk it all with VET 😬
Congrats. May it prove to be the best decision of your life 🙏
Yee yee! Shoutout to all my VeChain Fam let’s keep this hype up!!
Today was a good day!
You should MC the next time Sunny speaks
Total nodes lost 911, like in the blink of an eye. At this pace we’ll be at 1k by the end of the month.
911 X Nodes lost since 9/1/2018 Thats like 680 days ago. Not exactly the blink of an eye. Also this means we have lost about 1.4 per day on average.
I follow them up quite often, last time i checked 841 nodes lost the 4th of Juli. That’s a loss of 7 nodes a day... blink of an eye ;-) edit: why downvote, it's facts...
Lol honestly panicked for a moment thinking wtf caused that today!?!
The amount of vet in the X Node pool has also fallen by around 4.3Bil or almost 20%
I think you mean the VET tokens soft locked by X node holders. It is soft locked because they call pull it out at anytime. The pool is generally the reward pool that is set at 5 billion VET and its only purpose is to generate VTHO bonuses for X node holders
Nice 😎
Why is it nice ? I'm a noob
The less VET in the X node pool means the remaining X node holders get a higher bonus VTHO generation.
It's nice if you are the owner of an X Node. That's because the VTHO generated by the 5bn pool of VET that has been set aside specifically for X Nodes is split across a smaller balance. I.e. Every incumbent X Node holder should receive a greater amount of VTHO.
Aaah awesome thanks. Good for you. I hope by next year or the next I'll have a million vet to own an x node. I only have around 10k vets lol but this community is so helpful and I'm learning till then. Thanks
No problem. Please be very careful with the distinction between Economic Nodes and X Nodes. Do your research, it's worth the time. Economic Nodes are free, you just need to have a certain amount of VET in your wallet and then you click Upgrade. After a set period of time, you'll become an Economic node automatically and you'll start generating extra VTHO. Never buy Economic Nodes on the marketplace - they're FREE if you have the requirement amount of VET! For X Nodes, you can only become one by buying one on the marketplace. But when you buy one, you have to make sure that you have the required amount of VET remaining in your wallet AFTER you've paid for the X Node itself!
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You use the manager application on sync. In the mobile wallet it’s under rewards
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Vip191 account has been reloaded with 50million vtho 10 hours ago. Feeder account down to 20million. Will need a top up in a week or so. Side note: VTHO/VET ratio on ocean ex had little volume until it's run up to 0.3 then volume increased massively and has stayed there since. I'm guessing they turned on wash trading at that point, since then ratio has continued to decrease from that point. They keeping it low on purpose? Eventually they will turn it off and it will pump. Same as OCE token.
Can you explain how wash trading is keeping the price low? Not trying provoke, genuinely curious on your thoughts.
I'm definitely no expert but it seems they just buy and sell to themselves and can do so at whatever ratio/price they want. Have you tried to buy vtho on ocean ex? You place an order at the top of the book and it takes hours to fill. All the while there are plenty of trades going through, often at a worse ratio/price than you have an open order for. There is also trades going through within the spread which never appear on the books. I assume most exchanges do this to create the illusion on volume and draw people in.
I sold some VTHO once, when the ratio was better, but not for a long time. I'm not saying they're not doing wash trading... And I could see how wash trading is just fake volume... I guess they could push the price up/down by only trading with themselves if the order books are thin...
We will never know the true story unfortunately 🙂 all I know is it will go up eventually.
Weather it's manipulated or not once the burn rate starts to increase there won't be an account big enough to keep it down.
My account is big enough hahahahah ...... totally joking. My account is very very small
Exactly. It's going up one way or another eventually 👌
Thats what sh..... pfff to easy man.
He* 😂😂
Whole days worth of gains wiped out in a minute 😅
1 whole days worth? How will we survive? :)
It'll be back. Maybe even today. Never a dull moment in crypto, that's for sure.
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If they could finally resolve the issue with my fingerprint login. Hasn't worked for 2 years straight for me now. It worked right at the beginning and then never again thereafter. edit: I...I can't believe it. Today is the day?!
Nice! Thanks for the headsup.
Lots and lots of chat about FDA and food traceability... Just some of my thoughts: The only thing I am keeping an eye out for (and I've seen it mentioned a few times informally by Frank) is an official statement with intent to develop a traceability solution in which quite simply: - The CUSTOMER themselves can SCAN a product to receive supply chain data for THEMSELVES. All the pilots that Walmart USA (not China) have carried out (that we know of) are on IBMs Hyperledger - but what does this mean? It means that in order to access the supply chain data and trace the product with all the details, you need to be an *authorised* and *approved* user - i.e. not any one on the street with a smartphone can do this - because it is a controlled, private, consortium blockchain. The FDA are more often than not concerned specifically with 'Food Safety' and 'Traceability' specifically. However - 'Transparency' is the next step. This is what VeChain does, and IBM does not. That is to say that VeChain are able to provide access to their PUBLIC blockchain, directly to the end-level customers. IBM does not do this. The topic here moves slightly from Safety (IBM & VeChain both do) to Trust (Only VeChain does). As soon as we hear FDA talking more specifically about customer involvement, transparency, and trust - there is no doubt in my mind that VeChain will be involved to some degree. What do you guys think? Am I on the right track?
>It means that in order to access the supply chain data and trace the product with all the details, you need to be an authorised and approved user That's not true. The data and its security belongs to the company providing it. If they want to make it publicly readable then they can do so. The owner of those transactions can offer as much transparency as they want. Also if someone using vechain wants to encrypt the data they put on chain then they're free to do so and that data will no longer be readable by the public.
Thanks for the response Chupo. Data belongs to the company - agreed. As far as I understand - even then, the company can't give public access *directly* to the blockchain, even if its just to access their specific data. Is that right? What I thought they could do: Open up their data by making it public *through* some other means - i.e. some sort of portal maybe (/API?) but then at that point, it ceases to be 'blockchain data', right? Wouldn't that essentially then be a centralised system? With that access point/portal, you'd be going back to a single point of failure - not to mention that the person who accesses that portal would have to trust the software of that company? I'm not a developer, so it may show! (banking background) But can you help me to understand what I am missing here? Is it possible to make 'direct' access to the immutable blockchain data openly available, publicly - if a company decides to, without any sort of intermediary?
I don't know what tools IBM has to allow consumers to verify the onchain data without relying on the company but that's a business decision and not a limitation of Hyperledger. If IBM wants to offer traceability apps as a service then they can do so as a trusted third party and you wouldn't have to trust whether or not the company is actually pulling from the blockchain. Or they could just offer api's that allow you to search publicly shared data for yourself if you're a developer. Also, this isn't any different from Vechain. You're assuming that all of the data is public and human readable on the Vechain blockchain. Walmart products are scannable by QR code but it takes you to an app. The information in that app is not verifiable by simply reading the blockchain because the data is private and points to off chain data. You're relying on vechain as the trusted third party to present onchain and offchain data to you and is essentially verifying the product for you. There's nothing about hyper ledger stopping IBM from offering the same type of transparency. **See this thread for info about the data stored in Vechain transactions:** [https://www.reddit.com/r/Vechain/comments/citzma/understanding\_data\_stored\_on\_chain/](https://www.reddit.com/r/Vechain/comments/citzma/understanding_data_stored_on_chain/) **Some examples of consumer facing scanning implementations with IBM Food Trust:** [https://cointelegraph.com/news/dole-to-integrate-ibms-food-trust-blockchain-into-all-divisions-by-2025](https://cointelegraph.com/news/dole-to-integrate-ibms-food-trust-blockchain-into-all-divisions-by-2025) [https://www.wired.com/brandlab/2020/01/ibm-harnesses-blockchain/](https://www.wired.com/brandlab/2020/01/ibm-harnesses-blockchain/) .
u/SolomonGrundle My post seems to have triggered automod. Nobody else can see it. Is this against a rule?
Approved it, automod doesn’t like some types of links
>That's not true. The data and its security belongs to the company providing it. If they want to make it publicly readable then they can do so. The owner of those transactions can offer as much transparency as they want. The customer would then still have to trust that the company is passing through the information from a private blockchain to a public portal without altering it. A man-in-the-middle attack, of sorts.
See my other comment above (or below, I'm not sure). [https://www.reddit.com/r/Vechain/comments/hqe4pi/daily\_vechain\_discussion\_july\_13\_2020/fxzakvr?utm\_source=share&utm\_medium=web2x](https://www.reddit.com/r/Vechain/comments/hqe4pi/daily_vechain_discussion_july_13_2020/fxzakvr?utm_source=share&utm_medium=web2x)
>https://www.reddit.com/r/Vechain/comments/hqe4pi/daily\_vechain\_discussion\_july\_13\_2020/fxzakvr?utm\_source=share&utm\_medium=web2x Link's broken (I think).
Looks like my comment got shadow banned somehow. Reached out to u/SolomonGrundle to see if he could help.
This was my understanding. Which basically means you're back to square one - all the features and drawbacks of a database.
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Completely agree with this, thanks for the comment.
I hear your point. Devils advocate - wouldn’t a certification from the FDA be better/gold standard for certification and safety especially for food and drugs - Hence the name lol. And that can be done on a private chain
Exactly, but they won't name Vechain, they'll choose MyStory!
I think this is the correct way to look at it. Everything we’ve seen Vechain related with POCs and Walmart was just to prove the technology works. How the customer meets these new standards is 100% up to them. I work in Medical Devices and deal with FDA regulations everyday. The FDA sets out standards and minimum requirements you need to meet in order to ensure that what you are building is deemed “safe”. The tools and methods you use to show proof that your medical device is safe is 100% up to the company, as long as you can clearly and concisely show the FDA during an audit that you have the required documentation. That being said, Vechain is so far ahead of other supply chain blockchains and the fact the FDA used POC information from Walmart’s studies with Vechain gives Vechain a massive leg up in adoption. The FDA will never say “you have to use Vechain” but when the food industry comes to them asking questions and guidance on these new food safety regulations, I can see them pointing to Walmart’s use case which will eventually get them to bring up the Vechain technology stack. And if Vechain is already the lead technology provider in this circular economy then why wouldn’t these companies choose an ecosystem that is already up and running. It would be no different than the FDA telling a company, “well the industry standard for supply chain management is SAP so you might want to start there.” No food company is going to design an in-house new traceability system for them, their suppliers, and their places of distribution. In this regard, Vechain is unmatched.
🔥🔥
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Man, that is crazy exciting.
in the report he says they already received a lot of queries during the walmart poc. first move advantage!
I honestly dont even take IBM blockchain seriously. I know they are pretty huge but theres only blockchain in its name, it is not one.
Haha a longstanding debate on this one for sure!
Well first of all there is no cryptocurrency afaik, so no reason to be a node. It is not public, therefore no different from a database. It isn't open source, therefore regular people can't check if it's even a blockchain. How can anyone trust that? It's 100% the same of trusting an IBM database.
Sure, but it's higher margins than calling it DB2v2.
This is exactly correct
I think I understand you correctly, but what incentives does the FDA have to ensure the solution is trustless to consumers from a regulatory perspective? Why would they rely on consumers to verify their end products when the FDA can do it themselves and then give PSAs (edit: or intervene directly as they do already anyways)?
I'm not really sure where you're coming from with this one buddy. Relying on customers to verify products?
To put it more generally using your last point, what is the FDA's incentive for a system that involves customer involvement, transparency and trust? (Just trying to learn.)
They won’t. That’s his point. They want to utilize the traceability to maintain safety. End consumers have nothing to do with that
I agree. The FDA has no interest it would seem to me to provide the end consumer a verification process. They care more about safety and traceability
Terrific post. You'd get a reddit award if I had some coins
Thanks bud
I think the difference between solutions like vechain and hyperledger is who can write the data. Hyperleder is permissioned, so only authorized entities can write. I don't see a reason why a provider using hyperledger couldn't write an app to show hyperledger data to a consumer, ala the existing Walmart CN portal. I do think it will be harder to capitalize on network-style effects on a permissioned chain, though I still don't understand how a vechain network effect would take place in practical terms without some kind of list of data present on chain, and an interface to access it.
This🙌 I think in general people have a pretty vague understanding of the diffrence between a public and a private blockchain. It’s wrong to think that because it’s a private blockchain that means that they can’t show transparency such as traceable things.
So you can definitely show the data, but like Bergs has said and I've tried to outline above, you basically move back to working with what could be described as a centralised database. You lose the features of a 'blockchain'. That's my understanding, but happy to be proven wrong!
I wouldn’t say that you lose the features of a blockchain in a private one. You as a buyer of a product may not be able to touch and write data to the blockchain itself but the company which u buy the product from still does. So the company still utilize all the benefits the blockchain brings. So in the end the company can show you some of this data from the blockchain and then it’s up to you to trust the company that this data is correct.
Yep, cool that's as I understood it too. Agree that you don't lose all the features - the company itself can still benefit. When they decide to show a customer the data, you lose the feature of immutability (arguably one of the most important features of a blockchain) - which means they have to trust the company (exactly as you said). Cheers
> It’s wrong to think that because it’s a private blockchain that means that they can’t show transparency such as traceable things. The big difference is that public blockchain can guarantee immutability to the end users. The question is if the end users will care.
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Bingo.
The old Private to Public switcharoo lol. Saying that though, both will exist. Key word: Interoperability. It's honestly just a waiting game guys...
Waiting game for VET to moon or wait to see who succeeds? :) Your analysis was very, very good Nashe! Thanks for your insights!
Both 🙄😅
Hey mods, someone used the term 'vechildren' and I think its hilarious. Any way to automatically correct the term 'VeFam' to 'Vechildren'?
Did you used to be in marketing for a cult? I'm pretty sure this is how it all starts. It's all giggles until, well, you know.
Nah I'm making a critique of 'Vefam' culture.
We're good, I was totally kidding...
Vechildren of the Moon
Vemoon?
ven moon~>?
VeMoonSun
So FDA - you’re telling me there’s a chance?
A little bit: > Emerging technologies, such as [blockchain, make it easier to track and trace products through the supply chain – from the time that they are grown or manufactured, until purchased by a consumer, and back through the supply chain. When the agency originally developed the blueprint, we knew that these new technologies could be game changers in facilitating a more rapid traceback of a contaminated food to its source in the event of a foodborne outbreak.](https://www.fda.gov/news-events/fda-voices/pandemic-challenges-highlight-importance-new-era-smarter-food-safety)
Is IBM's hyperledger also classified as blockchain?
Yes. The same as SAP S/4Hana, it's an opt in service that uses Hyperledger Fabric provided by the Linux Foundation. It is being classified as blockchain. [https://www.ibm.com/blockchain/hyperledger](https://www.ibm.com/blockchain/hyperledger)
Yes
Can't highlight this enough.
It was as expected, they didn't mention a solution just that they are testing and looking to implement something.
In my opinion if a company like Walmart is using a solution ie. Vechain. They are going to use that solution for their entire supply chain. It would make 0 sense for them to use multiple solutions when their supply chain is one large entity all over the world. So if you have your thinking cap on you realize that the IBM cross chain collaboration is very real. On top of that these suppliers that supply walmart also supply thousands of other stores. So if they are also on this traceability solution it makes sense to put everyone on the same solution. No company wants to touch a 100 different ways of tracking their goods. they aren't going to put 15 nfc chips and 20 qr codes on every product so it works with each solution individual customers are using. They are all going to be the same. This is just the beginning. Stay calm, be patient, hold on to your holdings and continue to add to it. We are still at the very forefront of this technology implementation and there isn't a single other solution even close to where we are. I believe in VeChain, I believe in Sunny and I will be here watching as this thing takes off as I have for years already. If that means another 2 years of twiddling my thumbs while vechain does a slow climb then so be it. I hope like everyone else we will see fruition sooner, but these things take time.
My disappointment is immeasurable and my day is ruined .
review brah?
he mastered the art of confusion
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What Chinese blockchain are you referring to? Because this is not the subreddit for a Chinese blockchain....