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Hi everyone! Just wanted to write a quick post and check in. The GATCOIN team has been incredibly busy. We were at the Fintech O2O conference earlier in the week where our CEO, Simon, was on a panel about blockchain. After he had a presentation on the GATCOIN project too. We'll be posting some pictures from this on our social media soon. We have some more conferences lined up in the coming weeks such as the Tokyo Cryptocurrency Conference ( https://www.ico.blockchain-labo.jp/conference) and are hoping to build more momentum before the end of the pre-sale. Thanks so much for all your continued support! We're so glad to have such a strong and supportive community! |
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Yes coss is just a start, many exchanges will come after, just wait that gatcoin start and be far in developpement and we will see a lot of major exchanges I think.
Hi everyone! Sorry for the silence in the forum, we've been very busy here at project GATCOIN! We're very happy with the progress of the pre-sale so far, especially considering the current environment in the crypto market. The announcement about the COSS Exchange is true! We're very, very excited and we hope this increases demand for GATCOIN. This is the first of hopefully many exchanges where GAT Coins will be tradeable following the end of our ICO in January. We have always promised that there would be a way for you to trade your GAT Coins and this now makes it easier. Simon, our CEO, is still in Japan working on partnerships and the team is currently traveling around Asia to present our project to investors. If you're interested in buying, please follow this link: http://gatcoin.io/buy/If you want to stay on top of future announcements, please sign-up here: http://gatcoin.io/sign-up/ |
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Already 25% sold on the first day of presale! Very nice! Really hope this will keep rising and more and more investors invest in this great platform. GATCOIN will be very big in the future! They will dominated the coupon market  If Gatcoin started their presale in easier times for icos i believe it will already get sell out. But if you think how hard it is to get icos decent funding it is an amazing number for just hours. Yes you have to see the amount they raised so far in relation to the current situation. There are other project who didn't get that much during their whole ICO and for Gatcoin the pre-sale has just started! Indeed a very good start. First day is mostly very good because people are afraid they will miss out on the presale. It can go fast Really hope they will reach there hardcap during this presale. How long will the presale be running? Thanks for all the support on here, friends! We're really excited with the results from the first day! The pre-sale will be open for a month but of course we're hoping to reach the funding goal well before then  the ico is just for raising funds to start with the work, if you think you can make fast money, i would not to advise to buy, because this token is for the longterm and not shortterm. make your homeworks, dudes & dudettes That cannot be stressed enough. The development will take roughly a year. People on this forum tend to get a heart attack after just 1 week of silence from the developers. That is not always without good reason. The least you can do after your ICO is to celebrate reaching the minimum cap and even that does not always happen. And sadly in some cases they have disappeared completely. But to give weekly updates, let alone daily ones, a whole year long... I would be impressed if GATCOIN manages to keep that up. It would be very encouraging if they do. Weekly updates? I'll be very happy if they deliver monthly updates lol. Btw with the current state of ICO market you can't do quick moneys, you must choose wisely and keep your tokens for long term There is not even a need to do development updates, just a weekly sign of life. For example in the form of blog posts. Could even be random facts about loyalty programs. As long as investors are assured the team did not ran off with the money. Naturally, every investor want assurance from DEVS that they are in good hands. We've tried hard to be active and transparent so far and we hope to keep this up during development after the ICO too! Maybe not weekly updates but certainly when major milestones are reached as well as progress along the way. We know that your support is earned through our clear and regular communication and will certainly keep that up. You all are helping to make GATCOIN real! |
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Hey Community! Sorry I have been away for so long but as you are about to see we have been very busy. Please take a look at some exciting new announcements here https://www.gatcoin.io/update-on-gatcoin-private-sale-public-pre-sale-and-public-sale/To summarise; Pre Sale is starting October 28th with a 20% bonus! 15 Million GAT Coins will be available over the pre sale period at a price of $0.167 USD (price fixed in ETH) to reward all of you who have been waiting patiently! Make sure to sign up to our mailing list to ensure you get in on time! We have been working hard on our demonstration app, but to make sure that investors get to preview the functionality of the GAT Wallet, purchasing process in the GAT Marketplace and the trading mechanics of the GAT Exchange we have pushed back the Public Sale date to December 15th, when 115 Million GAT Coins will go on sale for $0.20 USD (price fixed in ETH). The development process has given us clarity on the cost of business rollout and we have adjusted Hard Cap accordingly it has been reduced to $35.87 Million USD so no more tiered ICO structure. As some of you will have noticed this leaves 70 Million GAT Coins unspoken for, due to overwhelming demand for private sales, we are in discussions with several parties, we have allocated this for private sales (with a 6 month lock in period) to ensure public investors still have ample opportunity to participate but still allow institutional investment. That covers everything but please make sure to sign up on telegram https://t.me/gatcoin and the mailing list https://www.gatcoin.io/sign-up/ to make sure you stay up to date and don't miss out on any potential promotions Thank you for these updates. If the price of ETH keeps going up, will you still keep the $0.20/token ? The price in ETH will be locked-in and announced 24-hours before the pre-sale and again 24-hours before the ICO. To get the announcement, make sure to sign up at: https://www.gatcoin.io/sign-up/ |
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Token sale will start on 28 October? They have a white list now?
We are working on KYC process now and pre-registration/whitelist will be announced before ICO. Sign up for our mailing list to be notified of the announcement: https://www.gatcoin.io/sign-up/ |
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That is an impressive performance.
Who can run Super Large Ledger nodes? Are they restricted to consortia merchants and GATCOIN? So while the GAT Coins live on the decentralized Ethereum network, the Merchant Tokens could be considered more or less centralized, if not in terms of hardware but in terms of control?
and what is the speed of the gatcoin token then? i assume the max to 100tps, due to the token being on the ethereum blockchain, or am i wrong? Yes because GATcoin token will be on the ethereum platform it won't profit from the transaction speed of the SLL technology. I think the idea is that Merchant Tokens will need much higher TPS than the GAT Coins. The Merchant Tokens are used by customers in the real world, while the GAT Coins are used for buying and selling Merchant Tokens in the crypto market. Spot on. The GAT Coins will be limited by the max speed of the Ethereum network. The Merchant Tokens will run much faster with SSL and will circulate on a consortia network where GATCOIN and merchants control the nodes. While you're here, can you tell us when the SSL blockchain documentation will be out? Chain itself will be out Q2/Q3 next year am I right? Sure. We are aiming to release documentation on this in Q2 next year. Prof Tsai is currently working on an academic paper on the SSL blockchain and will like to publish in a financial journal as well. The blockchain itself will be released along with the beta in June 2018. Will this be public on Github? Is prof Tsai writing a blockchain form scratch or is he using an existing one as a baseline and build on top of that? We won't be publishing it on Github. Prof Tsai has already built a prototype blockchain that was tested and we will be taking that prototype and adapting it for GATCOIN. |
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That is an impressive performance.
Who can run Super Large Ledger nodes? Are they restricted to consortia merchants and GATCOIN? So while the GAT Coins live on the decentralized Ethereum network, the Merchant Tokens could be considered more or less centralized, if not in terms of hardware but in terms of control?
and what is the speed of the gatcoin token then? i assume the max to 100tps, due to the token being on the ethereum blockchain, or am i wrong? Yes because GATcoin token will be on the ethereum platform it won't profit from the transaction speed of the SLL technology. I think the idea is that Merchant Tokens will need much higher TPS than the GAT Coins. The Merchant Tokens are used by customers in the real world, while the GAT Coins are used for buying and selling Merchant Tokens in the crypto market. Spot on. The GAT Coins will be limited by the max speed of the Ethereum network. The Merchant Tokens will run much faster with SSL and will circulate on a consortia network where GATCOIN and merchants control the nodes. While you're here, can you tell us when the SSL blockchain documentation will be out? Chain itself will be out Q2/Q3 next year am I right? Sure. We are aiming to release documentation on this in Q2 next year. Prof Tsai is currently working on an academic paper on the SSL blockchain and will like to publish in a financial journal as well. The blockchain itself will be released along with the beta in June 2018. |
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That is an impressive performance.
Who can run Super Large Ledger nodes? Are they restricted to consortia merchants and GATCOIN? So while the GAT Coins live on the decentralized Ethereum network, the Merchant Tokens could be considered more or less centralized, if not in terms of hardware but in terms of control?
and what is the speed of the gatcoin token then? i assume the max to 100tps, due to the token being on the ethereum blockchain, or am i wrong? Yes because GATcoin token will be on the ethereum platform it won't profit from the transaction speed of the SLL technology. I think the idea is that Merchant Tokens will need much higher TPS than the GAT Coins. The Merchant Tokens are used by customers in the real world, while the GAT Coins are used for buying and selling Merchant Tokens in the crypto market. Spot on. The GAT Coins will be limited by the max speed of the Ethereum network. The Merchant Tokens will run much faster with SSL and will circulate on a consortia network where GATCOIN and merchants control the nodes. |
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I like the project and all but there is some information in the whitepaper that is pulled from some very old reports on the transaction speeds of VISA. Whitepaper1 According to Professor Wei-Tek Tsai, test results operating on 4 nodes using
IBM 4 x86 processors produced verified transaction speeds of an average of 5,000 transactions
per second (TPS) which is equivalent to average Visa/Mastercard processing speeds.
2004 https://www.informationweek.com/visa-tests-transaction-processing-system/d/d-id/1026381During the annual weeklong stress test, conducted at an IBM facility outside Washington, D.C., Visa ran the system at a processing load of 6,200 transaction messages per second, a 20% increase over last year's peak on Dec. 24 of 5,200 transaction messages per second. Each card purchase requires about two transaction messages.
2013https://www.visa.com/blogarchives/us/2013/10/10/stress-test-prepares-visanet-for-the-most-wonderful-time-of-the-year/index.htmlAfter the test is concluded, the VisaNet team determines the best configuration to maintain our higher levels of security and reliability when millions of transactions from all over the world hit the network during the holiday shopping season. As a result, they also come back from Gaithersburg with a number that represents the maximum processing capacity VisaNet can handle, which later is stamped on coffee mugs and distributed to the team involved in the test. This year’s “mug number” – as we like to call it – is 47,000 transaction messages per second, which is a huge step forward from 2012’s peak capacity of 30,000 transaction messages per second! I didn't have time to look up the current transactions per second capabilities of VISA so don't quote me on this but I vaguely remember hearing Vitalek say they were over 69,000 TPS. The 5,000 TPS capabilities are from 14 years old data. Please correct me if I'm wrong. I'm no expert in this field. I decided to do a quick search after thinking about Vitalek the Visitor's talk a few months back. So my question to GATCOIN is, who looked up and verified your whitepaper's numbers? My next question is.... Is your tech ready to handle the load of the holidays? With November and December comes a tripling of TPS at the minimum. That is a small typo if anything and in my opinion does not reflect the capabilities of this project as a whole. Nor does it raise any red flags. After reading through the whitepaper again I actually saw the brilliance behind this idea and I am still a supporter. Just thought I'd point this out to see how the team reacts and also to have it brought light by a supporter rather than a trolly nay-sayer. Interesting, so the peak txs/s for Visa back in 2013 was around 23,500 (because 47,000 tms , 1 tx = 2 transaction messages). Whitepaper says "average", now that you brought up this, I wanna know what's the peak for GAT blockchain This is something I want to know too. I highly doubt they would reach even half of the capacity they have available in terms of T/PS but I think they should comment or at least change the data in their whitepaper. It's easy to see how they got those numbers. It's not data that is very popular but for some reason when searching it the old, old data pops up and takes over the first page of results. Chinese, Japanese, who cares what nationality the dev team is? I've asked a real question about the data in the whitepaper four times now. Why can I not get a response. I have been supporting this project and treated the 14 year old data I the whitepaper as a typo. That's a big part of this project and I would like to know why that was overlooked. I'm nowhere near professional in this field and I saw that was very wrong. This team should have seen that and immediately fixed it. Apologies for the delayed reply. This is a very excellent point and we’re glad you looked so thoroughly through our white paper to find it. The data you cited from Visa represents the STRESS testing and PEAK transaction speeds that Visa can handle—for example, AliPay can currently handle 180k TPS at peak. However, the average TPS for Visa is still in the 4,000-5,000 range. Our figures in the white paper are for our average as well. We can handle up to 100k TPS for short periods (such as holidays like you mentioned) but we feel reporting this number gives a false impression of our capabilities and that average is much more important. No company can reliably offer 47,000 TPS as an average. Even Ethereum Enterprise which is aiming for just 100 TPS has yet to reach it. We feel this is really one of the hidden strengths of GATCOIN. |
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I read some of you talking about smart contracts but we don't know if the GAT blockchain will have smart contracts. In fact I wanna know when the entire blockchain's documentation will be released
not sure if they're necessary since Gatcoin controls everything about any tokens minted for their customers. Exactly, there's no need for smart contracts, they just need to mint tokens based on merchant's demands. I don't see merchants manage directly all their tokens The purpose of smart contracts in GATCOIN will mainly be to help merchants control the use and expiration of their Merchant Tokens. So if they want to issue a promotion for a certain period of time before the Tokens expire, this will be done through the smart contracts. Another reason why we think this is such a great solution! Smart contracts on the new chain? How they will be compiled? Solidity? Viper? A new program language like Plutus (when Cardano team will deploy it) maybe? We will use Solidarity to compile smart contracts for the beta demo. But will likely use something different for the final release version. |
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I read some of you talking about smart contracts but we don't know if the GAT blockchain will have smart contracts. In fact I wanna know when the entire blockchain's documentation will be released
not sure if they're necessary since Gatcoin controls everything about any tokens minted for their customers. Exactly, there's no need for smart contracts, they just need to mint tokens based on merchant's demands. I don't see merchants manage directly all their tokens The purpose of smart contracts in GATCOIN will mainly be to help merchants control the use and expiration of their Merchant Tokens. So if they want to issue a promotion for a certain period of time before the Tokens expire, this will be done through the smart contracts. Another reason why we think this is such a great solution! So, as asked before, will the merchants be able to change the conditions of their tokens after their creation or do they have to burn them all and issue new tokens? We are designing the system to be as user-friendly (and company-friendly) as possible. To this end, we want to allow merchants to be able to update the terms of their promotions if necessary without having to burn all tokens. |
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I have great confidence in Japanese projects. So I think this project will succeed
Is this the Japanese project? It's Chinese, it's just going to be launched in the Japanese market. Whilst much of the team has a China connection they are not a Chinese team and GATcoin is registred in Hong-Kong, so it's not subject to the same regulations as a Chinese. so what is it now? chinese or japanese? GATCOIN is neither Chinese nor Japanese. While some members of our team are ethnically Chinese or of Chinese descent, we are based out of Hong Kong (not mainland China). We have close business connections with Japan as well which is why we're launching the product in Japan in partnership with SK Planet Japan. More information on our structure and team can be found in the white paper here: https://www.gatcoin.io/wp-content/uploads/2017/09/170919v2-Whitepaper-EN.pdf |
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I read some of you talking about smart contracts but we don't know if the GAT blockchain will have smart contracts. In fact I wanna know when the entire blockchain's documentation will be released
not sure if they're necessary since Gatcoin controls everything about any tokens minted for their customers. Exactly, there's no need for smart contracts, they just need to mint tokens based on merchant's demands. I don't see merchants manage directly all their tokens The purpose of smart contracts in GATCOIN will mainly be to help merchants control the use and expiration of their Merchant Tokens. So if they want to issue a promotion for a certain period of time before the Tokens expire, this will be done through the smart contracts. Another reason why we think this is such a great solution! |
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It's just me or devs are not very active here lately? They are active on telegram, maybe I will ask those questions about SSL blockchain and how they will issue merchant tokens there  Devs are indeed more active on Telegam then here on BTCT. Maybe they should transfer a dev from Telegram to BTCT. Its a very active thread with a lot of question. Investors would like an active dev on a BTCT tread. Hope someone can answer some questions from the community. Keep it up! Telegram is too noisy for me, you leave one day you got 125 messages to read and no channels, I don't really like it. @kraterion sorry for the silence! We've been working around the clock to get everything ready for the ICO--just 17 days left!! What were your questions about SSL and Merchant Tokens? I want to make sure your questions are answered |
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Be sure that partnership will come, gatcoin is a project made to make partnership. If gatcoin found a big partner in mainstream retailer or a big brand, trust me the value of gatcoin will be incredible.
They already have partner in Japan - SK planet Japan. I cant understand much, because I dont know japanese. But as I understant this is some mobile service for O2O. If anyone know japanese, may be tell about this company more? Hi magisterr, SK Planet Japan is a subsidiary of SK Planet, a very large Korean conglomerate. Our partnership means that when GATCOIN launches it will immediately be tradable for rewards at 21 major international and local brands in Japan with a network of over 30,000 retail stores, 80,000 restaurants and 60,000 beauty outlets. GATCOIN is also talking with other merchants to increase this coverage in other regions as we have long-term goals of expanding globally. If you would like to stay on top of these and other developments related to GATCOIN, please join our mailing list here: https://www.gatcoin.io/sign-up/ |
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what is the ico price sir?
Hi mayaboti, we will have three rounds for our ICO and tiered pricing. The first 66,666,666 GAT Coins will be priced at US$0.20 each, the second 66,666,667 GAT Coins will be priced at US$0.30 each, and the final 66,666,667 GAT Coins will be priced at US$0.40 each. Purchases of GAT Coin will be payable in ETH. The USD:ETH exchange rate will be fixed the day prior to each sale round (the first sale begins on October 28). Our timetable and more info on coin distribution can be found on pages 29-30 of our whitepaper found here: https://www.gatcoin.io/wp-content/uploads/2017/09/170919v2-Whitepaper-EN.pdf |
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Hi I am having problem accessing your slack group. Shows on me no account with this username? I tried also searching manually but still no luck. Can someone help me here please?
Please join us on our very active Telegram feed at https://t.me/gatcoin -- our whole team is on there an we can help with many detailed questions. |
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The system will be for online and offline, the A-Drop system allows merchants to drop coins in a geographic location which will benefit offline locations, we envisions merchants holding treasure hunts with various vouchers and the end destination being their store or event. Pokemon Go with real world prizes! Additionally the A-drop system will let merchants to send tokens directly in to the wallets of their target customers, like an electronics chain sending a promotion to every male, who has spent more than $500 on electronics in the last year in New York. This can drive traffic to both online and offline stores! This system is explained in our System Overview https://www.gatcoin.io/wp-content/uploads/2017/09/170928v2-GATCOIN-System-Overview.pdfIs your A-Drop system able to recognize if a user tries to fake his geographic location with a GPS spoofing app to get the tokens airdropped to his wallet? But what's the problem? I mean - if you have to be on a given, offline shop to use those tokens... GPS spoofing won't teleport yourself into any location, so you'll end with useless (for you) tokens on your app. I thought the idea behind all of this is that these merchant tokens are tradeable on the GAT exchange. So if someone teleports to a location for the airdrop and he can, in the end sell, these token on the GAT exchange for GAT tokens, it's pretty obvious that these A-drop system will be abused. Let the devs speak then. But GPS spoofing systems are not impossible to block. Look at Pokemon Go for instance, GPS cheaters are blocked and banned. Of course there is the possibility to block users that used GPS spoofing but I don't know if they can legally close such accounts. Would be really interesting to hear a statement from one of the team. There must be some terms and conditions for users. Well, the banned/blocked accounts can be unbanned/unblocked by contacting the support. Of course we will work to discourage and, when possible, block GPS spoofing. However, as @stormcleric and @Sozialtourist pointed out, even if a user has GPS spoofing for an airdrop you will need to go to the store to use it. If you can't do that, then you can trade the tokens in the system for another. That's how the GATCOIN System is meant to work. Someone else will then get those Merchant Tokens and use them. So both customers and the merchant all get what the want in the end. |
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On the first page by roadmap: Jun 2018 - gat exchange public launch What does this mean? They will have own exchanges? I cant understand... Yes, they have their own exchange. There you can trade your merchant tokens you don't want or can't redeem for the tokens you want. That's amazing, it will raise interest even more next year. It will make a good bump with exchange opening. On the first page by roadmap: Jun 2018 - gat exchange public launch What does this mean? They will have own exchanges? I cant understand... Yes, they have their own exchange. There you can trade your merchant tokens you don't want or can't redeem for the tokens you want. June 1818 - gat exchange public release Next year in June this time for the time to join is not some long time? Long-term investors to be good news, to avoid the beginning of dumping. 1818? No it is not a gat/btc it is for merchant coins. Gatcoin will be on exchanges after the ico. @levyashin, that's correct. June 2018 will be the beta launch of the GAT Exchange and GAT Wallet for trading Merchant Tokens (Merchant Coins) for GAT Coins. October 2018 will be the full launch of the whole GAT System. The milestones are listed on page 29 of the white paper here: https://www.gatcoin.io/wp-content/uploads/2017/09/170919v2-Whitepaper-EN.pdfAfter the ICO (which begins on October 28, 2017), GAT Coins can be exchanged for ETH. Exchange platform info will be announced soon. To get the announcement, please sign-up here: https://www.gatcoin.io/sign-up/ |
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@ben_GAT I really hope that you're having some speech with European's companies, I really looking forward to see your application over here in Europe, I really don't care if GAT token itself will rise 100X of ICO price, I just want to use the GAT system
You and me both @kraterion! It really could change how we all use points, discounts, and rewards around the world! These partnerships (like the one with SK Planet Japan) take a lot of hard work and time--we're very lucky to have such a strong team behind GATCOIN to have organized this. The team is still in discussions with other large organizations which will help expand the network. Unfortunately, we can't discuss who or where this will be at the moment. But I believe that with our dedicated efforts and organic growth that other merchants around the world (and hopefully in Europe too) will also soon join the GAT System. |
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