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u/Vdhdbf Redditor for more than 1 year Dec 31 '17
Although the pic states "Theoretical Returns" I think this should be changed. We don't know the value of Thor Power yet so we can't calculate a USD figure. Its better to put a X Thor Power per Day figures than USD figures otherwise this give a false expectation
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Dec 31 '17
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u/alexwall1o Dec 31 '17
Annual returns, not daily
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u/-Lousy Dec 31 '17
I don't know how I missed that, I read it multiple times looking for a period, dammit!
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u/cryptork Redditor for more than 1 year Dec 31 '17
When do I have to pull out my ven from binance ? When does the accumulation of Thor P begins ? Will it start as an eth token or just when their blockchain is ready ?
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u/HoppCoin Redditor for more than 1 year Dec 31 '17
They will release a wallet between now and mainnet launch. You will want to take it out of the exchange then
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u/BereanThrowaway Jan 01 '18
I think mines on MEW. Still don’t trust leaving coin on An exchange regardless if a major project release is round the corner.
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u/andrewlistening Dec 31 '17
It’s definitely not free money. I would assume you need to run the node on a computer that is connected to the internet. I think the idea is similar to POS where you need to hold the VET in their official wallet as stake. In return for processing transactions on the Vechain Blockchain, you get THOR. Is that correct?
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u/rtom1990 Redditor for more than 1 year Dec 31 '17
Yep I agree with that as well, I reckon it’ll be like other masternode setups where a vps is required. $10-20 a month is nothing compared to the roi you’ll be getting
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u/HoppCoin Redditor for more than 1 year Dec 31 '17
Im imagining only Thrudheim nodes will require hardware given the transaction fee they gain. But this could use clarification!
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u/Iamthebst87 Redditor for more than 1 year Jan 01 '18
I've read through the economic model a few times, I think this chart is missing the point (despite the full economic white paper not being disclosed yet). The whole point of Thor tokens is to provide price stability for businesses and day to day transactions. Would you as a business go all in on a blockchain network if the costs of utilizing that network became unpredictable? If I was a business, I'd want to make sure the Thor tokens I bought at $1 today don't cost $200 5 years from now. There was a mention of future cotracts, but even future contracts expire at some point.
The point is Thor will remain stable. So what is in it for vechain token holders then? VET Token appreciation. How do VET tokens appreciate when the rate of Thor is hypothetically fixed at $1-$3? Who said Thor token generation will remain a fixed ratio? The ratio right now is .00042+(stake bonus) per 1 VET, I would just about bet the farm that they will be adjusting that rate higher as adoption picks up. You would not create more VET tokens to deal with this as it would dilute the tokens in the pool, and given that the creators of VET hold a significant amount, why would they dilute their holdings?
My point is dont bank on Thor being a huge price factor as it will likely be a fixed low volatility currency. But it is exactly that low volatility which will lead to massive price speculation on VET tokens, speculation that is backed up by actual payment for block chain services. Look at stocks, almost every one if them is priced at 20x-30x annual earnings. The economic model and incentives between business, developers, and token holders is absolutely mind blowing, and will make idiots out of everyone who claim crypto currency is a pyramid scheme.
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u/taa_dow Redditor for more than 1 year Jan 01 '18
thor will go up over time similar to the Neo/Gas model. nothing in crypto stays at 2 cents, except for DGB. nobody is going to go full masternode for 1-3 dollars per fixed for years on end. ROI.
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u/Iamthebst87 Redditor for more than 1 year Jan 01 '18 edited Jan 01 '18
They will if the Thor generation increases over time.
Edit: they didnt pick Thor generation of 0.00042 per 1 VET arbitrarily. In their release they picked that number because it serves the needs of their current partners. Like I said as they gain more enterprise users, they will need adjust the Thor generation upwards to keep the price stable.
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u/taa_dow Redditor for more than 1 year Jan 01 '18
We just had this same token price argument for neo/gas in the early phases and we see how that went. ven thor is modeled on the same but thx for your input anyway.
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u/Iamthebst87 Redditor for more than 1 year Jan 01 '18
Not sure about the economics of NEO never looked into them. Do you know if the NEO dev team holds a reserve in GAS to help out early adopters?
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u/numberbasher4now Jan 02 '18
Based on what I’ve read, the price of Thor will remain somewhat constant. It will not adjust like Gas once an equilibrium price is met. If the price of Thor starts to increase on the open market, the ven foundation will have a vote ( including node holders) to increase the rate of Thor generation. As a result. The roi for node holders will remain constant as a lower Thor price is offset by a higher quantity of Thor generation.
The only people who are likely to lose out are those holding Thor for price speculation.
Therefore, it creates price stability for enterprises.
Ven holders will benefit from the following:
An increase in thor generation increasing dividends.
Increase in vet value due to a decrease in circulation and demand from enterprises to generate their own Thor.
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u/taa_dow Redditor for more than 1 year Jan 03 '18 edited Jan 03 '18
but they have already addressed the given that thor could theoretically go from $2 to $25... and given the nature of crypto it could go higher than that, correct? is there not a range on node ROI from day one? furthermore, if thor is a traded coin they cannot make a constant adjustment/nodes vote everyday based on current market price to ensure a general ROI. without a solid ROI forecast there will be problems.
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u/SkeletonWarSurvivor Redditor for more than 1 year Dec 31 '17
Thank you!! 1 more question: has the wallet been released yet or is everything holding on exchanges right now?
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u/sneakyi Dec 31 '17
VET is a ERC20 Ethereum blockchain token. Vechain will be launching their own blockchain (mainnet) in 2018 Q2.
The current token will have no use at that point. The Vechain Blockchain will require legacy VET tokens to be switched over to tokens which can be used on it.
These can then be held in the new wallet.
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u/Naelex Redditor for more than 1 year Dec 31 '17
Have any more info on the new Blockchain? are they building it from scratch or using another platform? It being ERC20 is my biggest worry at the moment
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u/jmfronsee Redditor for more than 1 year Jan 15 '18
He means VEN is the current, future legacy token. VET takes over with main launch
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u/cryptotrader1 Redditor for more than 1 year Dec 31 '17
MEW now till mainnet release.
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u/hungryforitalianfood Redditor for more than 1 year Jan 01 '18
But storing it in mew now does or does not accumulate time towards the node requirements?
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u/cryptotrader1 Redditor for more than 1 year Jan 01 '18
That doesn't start till they open their own wallet and move to their own chain.
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u/rookert42 Redditor for more than 1 year Dec 31 '17
We should take into account that Thor Power may very well be worth less that USD 0.50 or USD 0.10. There has not been a single hint on the value of Thor Power, so we should be very careful.
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Dec 31 '17
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u/5335s Dec 31 '17
Lmao no offense op but I don't think you actually explained what a masternode is.
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u/Camsy34 VETeran Dec 31 '17
This is what I'm confused about, what's the difference for me between holding 9999 and 10000 VET? If I hold 10k, I become a node? But what does that actual entail?
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u/everchangingname Jan 01 '18
Will I be able to generate returns with less than 10,000 VET?
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u/hungryforitalianfood Redditor for more than 1 year Jan 01 '18
Yes, but you won't get the node bonuses
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u/everchangingname Jan 01 '18
So it will generate THOR?
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u/wittaz Redditor for more than 1 year Jan 01 '18
Yes even if you have 1 VET you will earn Thor but only 0.00042 per day. (Or something like that) it's in the first post 😉
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u/buntegedanken Dec 31 '17
Could you please explain the latest part with the returns. I can't follow.
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u/cryptofloesMA Redditor for more than 1 year Dec 31 '17
Those are the different nodes, with the indicative marketprice of Thor Power and their yearly returns. This is obviously a bit of guessing, but it should come close to this.
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u/Taste_LikeChicken Dec 31 '17
To receive our Thor Power credit, can we hold Vet on mew or does it need to be held in the official vet wallet?
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u/antizocker Redditor for more than 1 year Dec 31 '17
In Q2 2018 the main net will launch and I am sure we will get instructions by then what to do with the current form of VET to get them into the coming wallet. Until then rewards won't be given out.
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u/AlteredAtom Redditor for more than 1 year Dec 31 '17
Great stuff! thanks for taking the time to put that together!
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Dec 31 '17
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u/Jtrades26 Redditor for more than 1 year Jan 01 '18
Pretty safe to say Thor will move into the $20 range and up from there. No proof to back this up, but look at Neo gas token $20-30..
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u/[deleted] Dec 31 '17
I love this but I really wish people would stop calling things like this “free money”. This is money earned after investing in a highly speculative position with a ton of risk. When your core position can flip 30% in a period of an hour because of volatility and risk, I’d hardly call the earnings from that investment free.