Hey, having a doubt about crypto.com.. I'm losing more than 100€ on each transaction I make as they are putting inaccurate values whenever I sell any coin or trade. I have a print screen that when I sold it shows the value at 0.00329 when actually the value of that coin was 0.0034, is it normal?
It was settling at $1k before people started getting excited about the merge. These events are usually sell the news. I was big on VET in the last cycle, when mainnet launched in 2018 and VTHO started being distributed the price dropped by 80%.
>Funny, the best investment I ever made was VET and VTHO, never selling all. It all depends on what your timespan is I suppose, you buy in a bull market => you’re probably fkd somewhere along the line. Honestly, I hope it does come back. I love the idea that they were doing. But I worry because I see a giant -90% when I check the value, and I haven't heard much from them over the last half year.
Funny, the best investment I ever made was VET and VTHO, never selling all. It all depends on what your timespan is I suppose, you buy in a bull market => you’re probably fkd somewhere along the line. The one I’m least proud of is XBY, writings were on the wall for so long and I just kept believing. Shit cost me a lot of money and someone has been enjoying that who shouldn’t of… big lesson learned there. I keep their channel open in Discord to force myself to look at my fuckup so I don’t do it again :D.
> They seem to be a very utilized crypto but never increases in value I'm curious, have you actually checked how much vtho are actually burnt? That's the metric you should keep track of of you want to know if there's actually a growth in usage. Right now it's around 60 000 VTHO per day. There's 30 000 000 VTHO generated per day. Its actual usage is very very underwhelming.
>They seem to be a very utilized crypto but never increases in value Underutilized. VET is promising, but it for sure has not been used to it's full potential. They all have 'half-measure' partnerships. Like only select products in a couple of stores in Walmart China. And the BMW 'partnership' being more of an internship for a blockchain company at their 'start up garage'. I got frustrated with holding onto an X-Node for 4 years and sold everything at .06. You lock up your funds and their 'incentives' for x-node wallets is insulting. Especially earning like 1% in VTHO.
You make a good point that the early stage NFT "art" is pretty pointless. Value is created when utility is attached to NFTs. Bored apes are stupid as just pictures, but if an entertainment show is created around them, and each ape owner gets a cut of the action, then utility is attached to the NFTs and value becomes legit. VeChain xnodes are NFTs that give owners extra VTHO. They are more than just for bragging. On the one hand, yes people like to flex the fact that they own something exclusive. I am sure that there are pervs out there that will get their kicks out of owning exclusive NFTs of some porn star's tits. Of course there is no real limit to how many of these pics the star could release, so that's pretty dumb. Now, what happens when the porn star issues 100 "exclusive" NFTs that owners can use to chat with her? Or maybe something more intimate and personal like a real life visit. There are definitely horny dudes out there that would pay for something like that. Attaching exclusive utility to NFT ownership changes the game. There are plenty of possibilities to do this with porn.
There might be some exchanges who may not provide/give users $gas for Neo, Ong for Ont or Vtho for Vet, basically coins having dual token system. One Indian exchange which had VET, but was not adding VTHO to users wallet when I had checked last time. Hope it got changed.
It's a centralized Chinese marketing hype token that does nothing. It's all hype hype hype. They tout proof of concepts as top tier partnerships that never go anywhere. They've been using this "partnership" strategy to the point that "vechain x partnership" has become a crypto meme for over 5 years now. There are also the gimmicky nodes that provide zero value to the network and are just hype scams to get VET bagholders to hold while providing no ROI. Also the VTHO token is issued at a higher rate than it's burn rate which makes it pretty much useless. Walmart China burns like $509 VTHO a day which is pathetic and laughable. Tldr: It's a reddit shitcoin.
tldr; VeChain uses a bi-token system (VET) and VeChainThor (VTHO) with 101 Authority Masternodes to secure the system. VTHO represents the underlying cost of using VeChain and will be consumed after the required blockchain operations are performed. 70% of the transaction fee in each block is burned, while the rest is awarded to Masterners. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Just like US dollars is mostly only accepted in America, and Euro in Europe, the fact that you cannot use it everywhere does not make it less useful. Besides, there's more than use case depending on the blockchain. For instance, BTC is considered a store of value, just like gold. And just like gold, you can't just go and spend it in any store. But the store of value is for example useful for people that live in countries with high inflation, like Venezuela. VeChain is a private blockchain in which participants have to stake VET to generate VTHO, which is the fuel for the useful part of the chain, which is mostly products tracking. So saying "YoU mUsT bE aBlE tO sPeNd It FoR iT tO bE uSeFuL" is also wrong.
When you hold vet you will get VTHO that you are able to use it for the VeChainThor blockchain. I saw HNT miners trend from YouTube .Ill be honest I didn't search enough HNT but I think they do different things. Still its early so many companies can share the space. I will be checking HNT though and maybe buying some, thanks for the info.
You're right in that aspect, I treat VET more as a stock rather than a crypto cause in the end you'll need VTHO as the gas. I like to invest in what I believe in and is it has almost no competitor I bought in for an X-node. Next bull I'll liquidate a bit.. Or not we'll see haha
VET is the coin you stake (just by holding it) to generate VTHO the token used to pay gas in the VeChainThor chain. Its PoA (Proof of Authority) blockchain, read more about PoA [Here](https://docs.vechain.org/thor/learn/proof-of-authority.html) Vechain is not only designed to make an awesome use into logistics/supply chain but to fight counterfeit, it also helped with healthcare. Vechain was approved by Chinese regulators in 2021 IIRC.
I am part of a dev team and I can tell you that the majority of projects lack use cases. This is the number one reason they fail. Node projects are notorious for that. You need an income stream besides investors pouring in money. Always read the white paper and look at the business construct. If it happens to have a long-term use case, it MIGHT be a keeper. One project in particular (no affiliation) is VTHO or VeThor. I don't know where you are from, but there is a big issue in Europe/other countries with people making fake products. For instance, let suppose someone makes a fake Gucci bag, but it looks indistinguishable from the real thing. This coin's whole purpose is to track an individual item from the manufacturer to the sales counter and every step in between removing the possibility for even the best replicas to pass off as the real thing. They also do this with produce (to track quality) and items like alcohol (think fake bottle of Jack Daniels/$150 bottle of French wing being discovered). Anyways, my team and I do coin reviews every other day on some of the latest and greatest projects. Check out our subreddit: https://np.reddit.com/r/CryptoCraversLLC/
Or we could do it ourselves. We can find them. We can also learn to be accountable and not buy shitcoins they keep releasing instead of juggernauts like VET/VTHO. Let them eat USD. I don't care. It's going to all be burned in the end and they'll be left with shitcoins
You can definitely say this about 99% of crypto. That doesn't mean what I'm saying is wrong. I've not only been invested but been following Vechain since early 2016 before it was transitioned to a public blockchain and released for trading. Vechain has no real world use as evidenced by the lack of VTHO burn on the main net. It's pretty simple to see and understand.
tldr; VeChainThor (VTHO) token is a VIP-180 Standard token and performs the task of primary value transfer on the VeChain ecosystem. It fuels the economy of the blockchain by facilitating processes and transactions. The VTHO token is trading around $0.0045 today and is amongst the top 300 cryptocurrencies by market cap. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I didn’t put in that much. I genuinely don’t care, it’s not so bad. I just don’t see much action on it besides cringey VeBalls VeNuts VeKings VeSitors on fucking VeEverything. The price action is virtually nothing, nothing to keep me hyped about it at least. The goal everyone throws around with supply chain is just fucking dumb. Like it’s actually dumb. Good idea, but why the fuck do I care if I can’t even have access to this awesome idea? I can’t verify my stupid purchase because the only place with the very specific QR code is over in Asia. I’ve ordered some stuff from Asian companies and they have the same concept, QR code proves authenticity. Massive L. I was so bored on VeBalls I bought an NFT actually. There’s an airdrop for its tokens rolling around soon. Devs are dunces and the community behind it get hyped because each VeTard looks like your mom or whatever and throw bids around. It’s disappointing because I like the tech behind blockchains, the opportunities. VeChain is literally the most boring and plain crypto out there. There is absolutely nothing to do on there. LP sucks because the coins on there are cringe, the exchanges dont bother to fucking work, the only thing to do at all on Vechain is to sell the dumbass VTHO. Some VeTards actually think VTHO is worth something because it’s gas. They actually think VTHO is worth at least a cent or more. I can’t believe it every time I read it. I won’t sell just because I’m fine with it and I’ll make it work somehow. It survived a bear market already so it’s got SOMETHING going on keeping it alive. It’s just definitely a fucking zombie grandpa chihuahua though.
I wouldn't call them a scam but it's not a project that's set up to reward token holders. There's also a lot of conflicts of interest in my opinion. For example, VeChain is a for-profit company that develops for the VeChain blockchain and develops software-as-a-service solutions to sell to enterprises for fiat money. The actual VeChain (and VTHO) tokens are overseen by the VeChain Foundation, which is the not-for-profit entity which contains many of the leadership members from VeChain, the for-profit company. I'd rather have a stake in the for-profit business rather than hold the token
I get your point but you aren’t well versed on VET. It’s a dual token system (VET - Native Token and VTHO -gas token). VET automatically generates VTHO the gas token at a set rate of .000432 VTHO per day per VET in wallet. The incentive to hold the native token is to generate your gas fees. This is why it’s so enticing to enterprise because you don’t need to buy/spend your native token to pay gas. You buy a large sum of VET, provide stability to the ecosystem and you also generate your own gas fees. Similar for consumer. It’s extremely advantageous to hold the native coin in large sums as you generate your own gas fees and it is the central coin for all use cases developed in the ecosystem as well as governance use case (ex: there was recently a vote to reduce gas fees). To my knowledge VeChain is the only coin with this type of infrastructure and people are starting to notice how advantageous it is to build on. They are also developing their own Proof of Authority mechanism. To my knowledge this is exclusive to VeChain. Open to your interpretation of this.
I believe the price of VET is irrelevant. I’m fairly certain VTHO is the fuel for transactions. In your example it would be beneficial for Louis Vuitton to hold VET at whatever price to generate VTHO for on chain transactions.
I’m just using the official VeChainThor wallet on my mobile device. It’s not staked and can be moved out at any time. It’s earning me some VTHO daily just by sitting in there. I can also interact with dApps via the app itself too. A centralized exchange would give you a better return for sure but this way it’s my crypto, my keys.
Two questions if you don't mind. 1. Let's say I forgot to report some trades a few years ago. If I want to get caught up, as far as I know, I would have to pay back taxes on those trades. Not only that, but it would adjust all of my trade history that I already paid taxes on. Would I have to redo my taxes for the past 3-4 years? Is there an easier way to go about that? I could just be flat out wrong. 2. Vechain generates 0.000432 VTHO per VET per day, and holding in their mobile wallet generates VTHO on each block, every 10 seconds. What's the best way to handle that? Figuring that out by the day sounds like a terrible time, let alone every 10 seconds. Can I average monthly? There is no history of this AFAIK. It's not a transfer, it's not a transaction. It just works that way. I'm assuming I need to claim this as income.
Honestly it seems like a lot of people that were bag holders from 2018/2019 lost interest and either cashed out sometime last year due to VET not really making any tangible progress. So liquidity on VET is very low right now, not much hype. A lot of announcements that didn’t amount to much, and by this time the way the current tokenomics work it’ll take a very very long time for VTHO burn to even come close to the amount that is generated, even if it were to be exponential. It seems to me VET is at a crossroads right now, either it makes a comeback or it slips further into the abyss of the crypto rankings like so many other coins have done. It needs more new bag holders. A lot of people who still hold bags are probably also mad (wether they admit it or not) that they didn’t sell when it was 27 cents or so. So the sub is now very desolate. For me, I had quite some in there but I decided to get out when I saw Defi and of course I always was into BTC and ETH. For me it doesn’t look to promising anymore, but I hope the best for the people still holding it.
Just my thoughts Ive been trading bitcoin since 2014 - I've seen almost every hour bar for the last 8 years between the times of 7-10pm as I check progression every single moment of my waking life. .. my wife hates it , sometimes I interrupt sexy times to check my stats cus you never know when the next rally will be.. ​ anyays after careful consideration this is the lowest most coins have seen in a years time meaning you can safely guess taht if it does go lower it will be the all time low and your current all time low will be lost now reverse thinking - imagine you just bought at all time high ok and its sinking and you want it to go up...well it could really go down 50% of value right now...since its an all time high ​ HOWEVER ​ you are buying at a current all time low - let this be the time you buy and it soars - you should of lost more by buying in the holiday time but remember tax season and once checks start chasing - bit coin will go up ​ happens EVERY SINGLE YEAR CHECK THE FUCKING BOARDS ​ anyways ​ I bet heavly on VTHO, MATIC/PoLy, ADA, ETH , WAVES FUG THE REST
A combination of things. Sunny Lu really oversold/exaggerated/flat out lied about their so called “partnerships” (Walmart and DHL... yeah, okay). Other companies that have partnered with VeChain have quietly exited and no longer use VET. It’s real world application of supply chain tracking seems less important/viable now in the wake of a pandemic where we went through supply chain nightmares yet governments and major corporations didn’t consider crypto such as VET the solution to those problems. The fact that it generates VTHO makes it a nightmare for exchanges to handle. It’s unlikely that it will ever be listed on Coinbase because of this and it’s connection to China/coinbase being a public American corporation. And that leads me to my final point, VeChain’s connection to China. Though based in Singapore, a lot of VET’s potential hung on its ability to see real world use in China and many early rumors suggested that might be a reality. But with the crackdown on crypto by the Chinese government that’s obviously gone out the window for now at least. There’s also no hype or widespread interest behind it anymore. None. In a year where NFTs dominated preceded by one where DeFi reigned supreme, VET just feels like a dinosaur at this point. Hard to imagine much investor interest at this point. Seriously who is BUYING VET right now? Nobody. As reflected by the constant downtrend in price.
Vechain(VET/VTHO) has traceability uses which has helped clean rubbish in the oceans, it doesn't really pump at all just slow gains/growth. Does follow dips in the market though. VET only recently(Q1 2020) surpassed or matched its re-brand(2018) value. Though VECHAIN, was once $10(?) USD, after the rebrand its hard to say how the value is split between VET & VTHO
In regards to VET, I hold some but got in around .04 and .06 and up but nothing over .10 I still hold it and accumulate at the lower prices. I like the fact it’s actually being used and adding new partners but have to admit the marketing is not on point. I think the reason for this is the fact it’s a Chinese based corporation, not at all decentralized and had to be sure not to piss off the regime. That’s got to be a fine line to walk. To be honest I don’t really understand how it works that China is against crypto currency’s but allows Vechain to exist. I imagine it’s because VET is doing anything the Chinese government wants it to do if asked. My hope is that in the next bill run it gets close to or past it’s ATH and by that time I’ve accumulated enough at lower prices. One nice thing is letting it earn interest on Crypto.com because you actually earn VET not the little side chain VTHO.
Chinese centralized hype/marketing token. It hypes proof of concepts at top tier partnerships to the point that "Vechain x partnership" has been a crypto meme for over 4 years now. Their recent DHL China "partnership" fiasco should show you how these integrations materialize into nothing and are just hype hype hype. Gimmicky nodes that pay no ROI, Walmart China is supposedly only burning a couple hundred bucks of VTHO a day, hype Twitter accounts like Cream to drive up price. Reddit and most crypto noobs fall for the "amazing usecase" meme but it means nothing and it's just hype.
Yeah I am very bearish on VET. You gotta be a very hard core crypto bro to buy it. They have some solid partnerships but it’s so obscure for an average user. They would rather go for something shiny like a meme / meta verse coin and what not . Also, there is not much you can do with vet atm. VTHO APR is laughable, And there is only one or two DEXes.