Vechain News

Quick question: Let’s say you have 2mil vet, are you able to create two wallets with 1m each and qualify for strength node bonus vtho on each wallet? Or is there some sort of restriction preventing this? Thanks I’m new here hehe

I am very confused by VeChain's actual price and market cap.

This post says, "$100 would lead to a MC of more than $27B, I really do hope so son but it's a stretch"

But according to Coinmarketcap.com, the current market cap is $802 million already, despite the price only being $0.014

Also, according to Cryptocurrencychart.com, the price has been as high as $7 in the past, which would put the market cap at $100s of billions, based on a current $802 million market cap.

This price of $7 is also prior to the first block even being mined, according to VeChain's Twitter account, so how could there be a price before the first block was even mined?

I am very interested in VeChain, but these basic questions are really confusing me.

Move your VET to your wallet before September 1st

Can somebody helps me understand to what this point is referring to?

Thanks in advance!

I am trying to add VET to my Ledger Nano S. In Ledger Live, I add it to my ledger, but after that it doesn't show up under Add Accounts list. I have the same problem with Wanchain. Anyone else with this problem?

-Thanks

Does anyone have a clue?

Recently I sent some VET to my Eth adress. Is there any way to access my VET on that adress as they don't show up or are they gone forever?

Now we do a lot of guesssing and making the price out of thin air.

So, guys, I'd like to share my thoughts about VTHO price.

And explain that through FUNDAMENTAL factors.

So, what we have got from the start.

Yearly VTHO production:

86 712 634 466 VET * 0,000432 * 365 = 13 672 848 202 VTHO generated yearly

Now, the hard part.

As stated in VeChain Whitepaper:

"To sum up, the VeChain Foundation has obtained initial funds through ICO activities, and will

take about 4 years to achieve the following:

Growth of the VeChain Foundation. This includes headcount increasing to between 100

and 150 for both technical and business development, and business growth of 20 billion USD as

“VeChain GDP” running on VeChainThor Blockchain"

So, I assume, the overall VTHO burned in 4 years from now will be this amount - 20 billion USD yearly. Am I right here? How do you think of "GDP" figure? If I do, then the price of VTHO is

1 VTHO = 20 000 000 000 USD / (13 672 848 202 VTHO * 1.3 ) = 1,12519 $

1,3 coefficient because as we know authority nodes keep 30% back

So in 4 years 1 VTHO = 1,12519 $

Where am I wrong?

Please keep the discussion serious. Thank you.

I have an honest question that I simply don't understand the answer to?

Sure, I am a VeChain maximalist so "To a hammer everything looks like a nail", i.e.: I see VeChain everywhere I look (reddit, twitter, google, web sites) as I am so deeply involved in the project. Yet, I wonder is that the same case with TRON holders? or Eth holders? or IOTA holders? etc...

To me the writing is on the wall, VeChain is the ONLY legitimate crypto in the entire space, yes the ONLY one. Yet right now we are only holding about 0.5% of market dominance. So I really wonder, what do the rest of the crypto holders think? I mean, this reddit is the 3rd most popular crypto reddit, so that's evidence that there is a large community behind VeChain and it is NOT a secret as many in the space are fully aware that VeChain is very legitimate investment and its huge potential; yet if you look at our market cap (0.5%) and price (0.014c) we are "just another coin". Am I missing something?

TL;DR, pricewise and total market domination we are just another coin, but as far as community and total holders (32k+) we are very large and very active, so the two simply don't match up...!

Odd..... what's your thoughts?

I took a look a the recent activity on the network, and the average VTHO spent per clause (aka transaction) is about 32.5. That’s quite a bit higher than the minimum possible, but reflects the higher cost of writing data to the chain than just moving VET around.

The total amount of VTHO generated per day on the network is 37,459,858 (from the white paper). With an average tx cost of 32.5 VTHO, the current generation rate can supply enough VTHO for about 1,150,000 tx/day, 133 tx/block or 13 tps.

Interestingly, this corresponds to Ethereum’s real-world max capacity of about 14tps. https://etherscan.io/chart/tx

I realize that 1M transactions per day is not going to happen tomorrow. When it does happen (or sometime before) the foundation will be forced to increase the generation rate and VET will become intrinsicly more valuable instantly. This won’t happen by surprise, speculators will be pricing in the valuation bump as they watch the VTHO burn rate approach the total generation rate.

I have no idea when this will happen, but it will probably be a major FOMO event when it does.

Edit: I forgot to account for the 30% that stays in circulation. By my calculations you'd have to spend roughly 53.5M VTHO per day to exhaust all the tokens generated. Using that number we're looking at more like 1.6M transactions to consume all the VTHO.

Today just installed the VET wallet on my Android tablet. The setup process was very easy and quick. But somehow I hesitate to transfer my VET from Binance to the wallet. Maybe I am afraid that I have to reinstall the system, loose the tablet, etc.

So, I am asking, beside the fact that I and only I have access to my VET on the wallet, why else I should keep the tokens on the wallet?

How do control the amount of gas used for a VTHO transaction, while making sure it goes through (i.e. does not revert)? I tried twice with different amounts of Maximum gas, but with 0 gasPriceCoef. And both of them seem to have failed.

For example, I tried:

https://explore.veforge.com/transactions/0xf2c09018c9870692d8f113bed838e6808a0277cae0a5e2a00734309bc758d903

https://explore.veforge.com/transactions/0xe8ff6b4607ba3e252f8ce7c700c9d9f9a035b1a313fdd7fd249dbb8ec36f1faf

Does it mean that the gas I paid, as written in those transactions, are gone?

What did I do wrong here? Under what circumstances does a transaction get reverted?

I mean it’s the keys that are on the ledger, but I just want to make sure I’m not missing out on VHTO!

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There's a lot of discussion and speculation about the authority masternodes. So I thought I'd make this post to highlight exactly what the white paper says and why it's still not completely clear to us.

From 4.3 in the whitepaper

...the VeChainThor Blockchain carries the creation of our Proof of Authority (PoA) consensus protocol suiting the need governance setting so that there would not be anonymous block producers, but 101 known validators (Authority Masternodes) authorized by the VeChain Foundation and VeChain community.

To be an Authority Masternode (AM) on the VeChainThor Blockchain, the individual or entity voluntarily discloses who they are (identity and reputation by extension) in exchange for the right to validate and produce blocks [4]. It is their identities and reputations placed at stake that give all the AMs additional incentives to behave and keep the network secure. In VeChainThor, each AM has to go through a strict know your customer (KYC) procedure and satisfy the minimum requirements set by the Foundation.

It's my assumption (and a reasonable and logical guess) that this means we will find out who the AM are at some point, if 'VeChain community' means us. However the statement is not 100% clear in my opinion and could simply mean the foundation and other masternodes get to know who the AM are but we as the consumers don't.

Unfortunately from the VeChain team there hasn't been any clear answers yet, hopefully in the near future they will at least give us a clear answer on whether the nodes will eventually become public, regardless of whether they actually reveal them tomorrow or in a year from now.

A friend of mine send me this picture. There are already over 50 SmartContracts deployed on the Chain. If you look at the deployment block, yout can see that there is a lot of thing happening parallel. Lets hope the TXs keep rising!

https://i.redd.it/3t0di2mmdfh11.jpg

I feel like each clause is actually a transaction.

That would mean that we had around 1 TX/s yesterday, and something similar today.