VeChain Official AMA - Any questions regarding the 'VeChain Apotheosis: the Beginning'? Post here!
VeChain Foundation published 'VeChain Apotheosis: the Beginning' on 5th Dec 2017 to announce the VeChain Rebrand, the establishment of 1st VeChain Foundation Steering Committee, and the following important events and timelines.
Now, VeChain Official AMA starts!
We are open for 24 hours questions collection, anything questions you have regarding the release, please kindly leave comments here, and we will answer as many as possible in the following days within our knowledge and power.
Thanks for all your support!
What is the % roi of all tier of masternodes?
If VET won't be used for gas to run the blockchain, does this mean you will be creating a new currency used for gas?
First of all I love your project. The vision and progress behind the scenes makes your company appear super undervalued in terms of big scale adoption to world commerce and data tracking markets.
The main question I think most of use are thinking is, will there be a token burn/buy back to reduce the total supply, as there is close to a billion tokens in total and only 300mil in circulation.
I understand that this would inevitably push token prices up and masternode rewards would be reduced, but making the tokens more valuable and able to be fractionalised would surely be a benefit to your company/investors.
Also as far as branding is concerned, I really like your elegant and clean style, whether it is from meet ups, your websites or even your head quarters.
With the rebrand PLEASE do not go down the comic/gamer/science fiction path. It is easy to lose the respect and seriousness that this project deserves.
Thank you for taking the time to read this message and I am only expecting great things from your team and project.
Will a node running with 10,000 VET earn the same amount as a node running 25,000 VET?
Hi, just wanna start out with really great job on delivering on Apotheosis and not just trying to pump with empty hype.
So some question that i have:
How will the masternode system work, for example if i have 20k VEN/VET will i be able to split them into 2 nodes with 10k each or will it be 1 node with 20k? And ontop of that, will a node with 20k VEN/VET earn more than one with only 10k VEN/VET?
Will there be big gaps between the different economic nodes? For example would there be a big difference between a Strength Node with 49 999 VEN/VET and a Thunder Node with 50 000 VEN/VET in terms of rewards?
How much hardware/bandwidth/uptime will be needed to host the economic nodes? Will i be able to host them from a low budget computer with 100/100 Mbit/s internet for example? Also if you are able to host them from home, how much uptime is required, for example my net might go down like once every 2-3 months, would that cause any problems with hosting?
You say that nodes will be "incentivized through other rewards structures", any way you could elaborate on that (will it still be some kind of "crypto payment" aka NEO/GAS system)?
What kind of ROI % would you expect for each node tier (if its just based on tiers and not amount of VEN/VET in each tier also)?
Those are the questions i can come up with ontop of my mind atm, and once again thanks for an awesome project and team!
Will you burn any VEN tokens during the swap to VET?
Will the new platform burn any tokens used as gas?
Will the comic style announcement stay in comic style after rebranding?
Hi ! Thanks for taking the time to do an AMA. VEChain is one of those ideas where I think... "how has this not existed before!?"; it's a fascinating product application.
I'm concerned about where my products come from, who shipped them, and just curious about how long the process to makes them takes (and how long they sit on the shelf before they get to me). Your technology and system will help inform customers and industry buyers about what they're buying.
Here are my questions :
Is there any reason a luxury brand wouldn't want to do something like this ?
If I buy a handbag, would the shop add the sale to the product's history? Would the product's record say that it belongs to me specifically ?
In the case of a car, do you envision RFID / NFC on multiple places ( Airbags, engine, chassis, etc...), all being scanned during each maintenance procedure, or one single RFID on the car that gets all the maintenance info added to it each time... or multiple RFIDs, one on the chassis that is updated all the time, one on the engine, and then you scan them both if you remove the engine from the car, and the future owner of the engine can check the past history... It seems like a great system, though I worry that if you forget to scan maintenance in, the value of the car would drop even if you did the maintenance (obviously, this happens already, but perhaps the difference would be greater with the possibility of airtight maintenance records. For exotic cars, Bugatti, Ferrari, etc., the idea of blockchain records is enormously appealing.
Besides helping to raise funds for your team, what role does VEN / VET have in the process ? If you could help me visualize the role VEN / VET plays in this product-tracking ecosystem, I'd be much obliged.
Dumb question: As a masternode, do you have to be connected to the internet/blockchain 24/7 with your wallet/pc/notebook/ledger to validate transactions and receive rewards?
How often do you receive your Masternode reward?
Can you split for example 20.000 VET to hold 2 Strength Nodes? Is there any advantage in having two Masterodes compared to one Masternode with 20.000VET? I guess the Masternodes simply set a percentage dividend on all held VETs. So you shouldn't have any advantage from splitting.
Have you thought about using IOTA as backbone for your IOT strategy? (Like Modum)
What was the extent of your work with Microsoft? Are you guys still talking? Will there be any future collaborations with Microsoft?
Thanks for doing this AMA! First off I just want to say great work so far. I really believe in this project and team and you guys have been working very hard! I just had a quick question if you can say anything about how the meetings with BMW and Mercedes went? Also if you can touch upon the DNV GL partnership recently announced?
^ What was the end of the text in this picture supposed to say.
Is the official partnership event to outline the exact details of your partnership with DNV GL and Vechain, or can we expect more?
Will economic transparency still occur when you start selling to corporate partners?
Are there any specific markets you are currently targeting right now? (Country or Industrial)
When bittrex ? (joke)
One thing I must comment on is how awesome you guys did this announcement. You gave a huge update after completing a ton of work and the response has reflected that! Can't wait for the mainnet launch :)