Transportation Engineer, Crypto holder, X Node "VeChain is positioned to take a leading role in the building of the evolving digital economy."
Joined September 2019
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Back when testnet gave us hope that real adoption would come…. It never did…. The price is at an all time low basically with no signs of turning around. Are we riding this stinking ship to the bottom?
#VeChain vechain:native
Today I found the time to stop in and check on $Vet #VeChain. It is very evident the project is dying and almost fully dead. They have about 6 months or less to do something drastic to save the project. Not looking good…
Less than 500 mil MC, only 40k txs a day and completely horrible token price. I watched Sunny and the foundation lie to us for 7 years now. Not one significant development from this project. It was all false hope and no delivery. Walmart China was the closest real client they had and they are gone now.
Sunny Lu should go down as one of the greatest liars and scammers in crypto. Created and promised a revolutionary project, ran in circles doing nothing for 7-8 years until it died.
BTW as of two weeks ago I am fully in the red on my 7 year long investment. What a joke and mistake that was.
One thing saves this and one thing only. Real world txs from enterprise clients. This has been the answer for years they just never delivered it.
Compliance with EU, shell games with rewards, Stargate, Network upgrades… none of these will save the project. They don’t matter, the last 7 years shows us that.
But it’s not actually a 5.48 billion VTHO pool. Matter of fact the reward paying account doesn’t even have 1 billion $VTHO in it… 🙃
A simplified table showing Base and Delegation rewards for new #VeChain #Stargate Nodes.
Why does #VeChain advertise a 5.48 Billion $VTHO ($10M+) bonus pool when they are currently on track to only pay out 1.36 Billion $VTHO over the next 6 months. What happens to the 4 Billion $VTHO?
Currently only 1% (6,804 Nodes) of total nodes allowed. 5.48 billion $VTHO would be needed for 6 months of rewards at 100% node coverage. It will never get close to that by EOY, maybe like 10-15% maybe
The base reward is the same as before, 0.000432 VTHO per VET per day. This goes away in 6 months.
Delegation reward is fixed per Node tier for next 6 months. Why not have it dynamic based on total number of nodes? Pay out the full reward pool.
Mjolnir X (highest tier) generates 341,865 $VTHO a week. 47,174 as base reward and 294,690 as delegation reward.
This is the account paying out the $VTHO delegation reward. Foundation put 763 million $VTHO in it yesterday as today was the first time the delegations started paying out. (1 week after launch)
vechainstats.com/account/0x4…
This is max count for each node tier. At 100% coverage would be 26 billion $VET staked or 30% of total supply.
The new lower tier eco nodes have much large supplies obviously.
The more I read, the more I feel the #Vechain Stargate upgrade is just a band aid fix, another shell game of move and hide. Seems its entire purpose is to try to get the $VTHO supply under control. "Staking" is the buzz word but you are rewarded with a token that already has a 91 billion supply and extremely low price.
The "upgrade" does nothing to help promote enterprise adoption or use. Toolchain and POA 2.0 were both at least advertised to increase usage even though they didn't. Stargate is more of a pivot to try to clean up some of the mess, they just disguised it as a new better reward.
Send us your $VET tokens for an NFT, like what? To keep my X Node I sent the majority of my holding to the foundation in return for an NFT with some metadata.. CRAZY. They hold my assets now. Not your keys, not your crypto. Dare we remember the buyback wallet hack...they have 3.6 billion users tokens in one wallet now.
They want to lock up more of your tokens so you cant sell, this forces you to play the game.
If they would put this much energy into enterprise adoption we would be rich, instead we tried to slap a logo on a UFC ring and call it "utility"
After studying the #Vechain $VET Stargate Contracts I believe this is the fixed reward structure for the next 6 months until phase 2 (base rewards go away)
5,698 Stargate NFTs, just under half of the X Nodes have migrated so far. 3.6 Billion $VET staked
The delegation reward is a fixed weight for now.
Currently paying out 60 Mil #VTHO per week. If the 5.4 billion #VTHO is all for rewards they would have to pay out 210 mil a week..... guess they are not planning to use all 5.4 billion, maybe only 1.5 billion.
Sooo... what's the actual #VeChain Stargate Bonus reward for the next 6 months?
#Vechain says they have a 5.48 B $VTHO reward pool. Are they just going to do weekly distributions of this VTHO during bootstrap phase (6 months)? That would mean they would hand out 210 Million VTHO a week.
I would assume this is based on Node Weight, If node is matured, and number of nodes. If this is the case the rewards will be huge for early birds.
Why is @vechainofficial now holding X Nodes hostage to staking with Stargate upgrade? You’re telling me if I want to unstake my $VET you will automatically destroy my X Node? Even if I stay above the holding limit? What if I just want to take a short break from staking? I can’t go back because you will steal my node….that I paid a bunch of money for.
The node should only be destroyed if you drop below the holding limit, regardless of staking or not.
You don’t get to decide if I have access to my tokens (unstaked) OR get to retain my X Node. I should have the option for both, instead you hold my node hostage in exchange for staking.
#Vechain fix this….
lol… they should be begging for people to build dapps….
No instead let’s vote to ban some. The whole community focused pivot is never going to work.
BREAKING NEWS‼️ Node Holders have spoken and Vyvo is officially the first dApp to lose endorsement and can no longer participate unless they get endorsed and go through the process again. This is the power of decentralization🤝 #VeBetterDAO
It’s simple… more of this at full scale. Not smoke and mirrors with fake hype. Actually go do this and implement it.
Digital IDs of physical goods using NFTs… that
#Vechain
Wait is this a rebrand of Toolchain, or was that just thrown in the trash and replaced. Toolchain was the next big thing that never actually was. This gives similar vibes. $Vet
Toolchain - “brings mass enterprise adoption”
VeChain Kit - “its community, you do all the work to make our project have value”
Feels like wayyyy too many steps to actually work. First you need a node, then you need a node and then a stake and then….
I saw so many people who couldn’t even handle regular nodes and the holding threshold.
Adoption comes from simple, fast, easy… this is not it. $Vet
Seems the timeline is shifting against meme coin mania. The sooner pump/dump memes are irrelevant the better. Recent activity on $Sol and rug pulls are opening everyone’s eyes. #Pumpfun is at the top of the list for negative sentiment.
Buy utility coins, don’t gamble (and loose) on memes just because of some “influencer”, I mean scammer.
My theory… the memes must die before any alt season. Given recent news it seems obvious market manipulation is in play right now. The most logical reason is to kill off the memes before the BTC strategic reserve and US goes in full blown.
The meme trash doesn’t just get a free ride. Unfortunately all $Alts go down with flushing out the junk coins.
$BTC #Crypto $Alts # Memes
