We are grateful more than ever for the support of our coin holders, but I have to admit our development team have miserable failed to gain a greater support for GadgetNet/GadgetCoin on bitcointalk.org. We are sorry for that our platform isn't popular. IOTA started 2 days ago, but it is already lot more popular than GadgetNet. We obviously can't compete with the NXT community in generating interest for our software and tech within this environment. Still we believe that GadgetNet can be a successful venture outside of bitcointalk.org. Since the VICR process closed we have been working with IoT businesses such as ZoVolt as well as W3C to make our platform better and one of the primary Internet-of-Things micropayment solutions. I am not familiar with IOTA nor with TileCoin and I am unable to make a comparison between the solutions, but here is what we do:

1) Privacy. As we explained many times, the lack of privacy within the public block-chain such as Bitcoin is a major issue for real world Internet-of-Things companies. We addressed that requirement by implementing the private/public block-chain concept. As you can see in your wallet, your transaction information exist in your private block-chain, it is available for you, but it is not exposed to the public block-chain. This is what IoT companies, factories, solution providers and regulatory bodies require.

2) Performance. Real time Internet-of-Things devices management requires a reasonably good performance. You don't want to wait 12 minutes for a transaction confirmation to open an IoT powered Pay as you go self storage door. The transaction and device management must be instant. Our average transaction processing time is 0.875 second. This include device control and payment processing. You can see the instant transaction processing by sending money in your wallet.

3) Interoperability. We found this is a key issue for Internet-of-Things companies. To address this requirement we have started working with W3C to integrate and industry standard communication protocol suit into GadgetNet. The key word is "industry standard". Large industry players such as Ericsson or Fujitsu who support the W3C project won't touch a non-standard platform, but even small factories require standardized software to control their PLC devices or security companies to manage their IoT camera devices.

4) Scalability. IoT devices are very domain specific and it is probably the less important issue for the industry, but we still addressed this requirement and the GadgetNet platform is scalable. We rented 10 super large servers in the summer to stress test the software by creating 50,000 instances. There were no performance degradation at all and the data indicates the platform can manage +10 million devices. Though these numbers are irrelevant at this stage. If the GadgetNet platform will manage 100,000 devices then our investors will be multi millionaires, and therefore it is no point to get ahead of ourselves by talking about the scale of million and billion devices.

5) Regulatory compliance. No real world Internet-of-Things business will use a platform without regulatory compliance is in place. In majority of cases these are ISO companies which require the application and devices must be audited and transaction information to be available for the regulators upon request as well as in real time. GadgetNet addresses this by implementing the private/public block-chain concept.

6) Device provisioning. No real world Internet-of-Things business will use a platform without provisioning and management capabilities. To send a UDP packet from device to device is fine, but that is only 1% of the process. The devices must be provisioned: configured,  managed and upgraded in a secure manner. The provisioning process must be audited. We manage this via smart contracts. You can see how our smart contract engine works in your wallet. The Internet-of-Things devices use the very same smart contract engine.

7) Security. Using the PPK infrastructure the security is pretty much same as for any other digital currencies.

GadgetNet can move to the monetization phase very soon by providing for clients a technology with the above attributes.

PS:
Terms of the business development, everything is going as we promised, and we will bring an update on that.

I have nothing but respect for the NXT founders for creating such a great platform and vibrant community like NXT is. I like and respect James, jl777. Despite he is a prolific vaporware asset wizard, he is an extremely talented man in software development and more importantly in selling his ideas. No doubt Come-from-Beyond will be very successful with the IOTA project having the support of many talented people. You can see those many legendary and hero members in the IOTA thread. Even TPTB_need_war is there already. Those influential crypto users will make IOTA a very successful project - within this Bitcointalk environment. The founders will probably raise 1 million dollars by selling IOTA and then the NXT community will start selling to each other the IOTA digital currency. What will happen beyond that is predictable by the current state of NXT and other alt digital currencies.
Terms of the technology. Anybody who ever worked with IoT understand what are the real world use cases and user requirements, and can make the conclusion whether IOTA addresses them or not. It's cool having a protocol that could manage 50 billion devices, but IMHO that's simply not what real world IoT companies are expecting from an application frameworks. Of course I can't speak for the GadgetCoin developers, but based on the GDC whitepaper and info posted in this thread I believe GadgetCoin is on the right track in providing a real world application platform for real world businesses. There will be many cool projects like IOTA, TileCoin, etc., but IMHO there is enough space for multiple blockchain based IOT platforms, so personally - while I am respect them and I am sure they will make some money - I am not panicking from IOTA nor from TileCoin.

@mtomcdev

I think essentially the structure does make sense and thanks for organising it, except my concern is that wouldn't be this an illegal securities offering in the United States? I am not sure just asking. I have contacted our lawyer in the US but he has no idea what the implication of attaching shares to a digital currency trade. Generally speaking perhaps it is not illegal to sell for example a house and assign some company shares as well to the buyers as a bonus to incentivize the purchase, but perhaps it is a slippery slope. I am concerned because if this project will be successful - we all hope it will be - then there will be always somebody who try to destroy it and could request an investigation from the US financial authorities. I am not saying it is illegal securities offering, just asking.

It is rather peculiar that even in view of the gross display of idiocy of that individual, not one of you, not even one, has bothered to let him know how big of a ridicule he was making of himself exposing his lack of understanding not just of the phrase "tongue (firmly) in check", but of the most elemental perception of sarcasm. Nope sir, you were all too worried thinking on how better dismiss any sense of critical thinking, any perception  whatsoever that you might be wrong and you may lose your money on this. No way, no how. Better silence in the face of blatant, gross stupidity because, after all, we don't necessarily believe in this stuff, we just need it to be perpetuated long enough to make money off of it at whoever's expense, right? Who cares about rationality, research, statistics even or, on the other hand, intolerable levels of idiocy, IF THEY DONT SERVE/SERVE OUR AGENDAS, right?

Thank you for the offer but why don't you explain to me, clearly, exactly in what way would this be profitable for your future DAC? Because this is already in use, and has been for more than a decade, in all kinds of industrial uses, from traffic and weather services to banks and cities in general, not to mention law enforcement, prisons, detention centers... where is the PLAN to make money out of it? It is FREE already. I am sure I am missing something here... but you will be kind as usual to illuminate me on the possibilities. And I am assuming -but I am sure you have all that covered-, some kind of insurance is involved against vandalism, weather damages and the like. Installation, it goes without saying, will be left to the purchaser which, naturally, will be experts at it...

While you are at it, please let me know how you propose the DAC to be a profit point for Gadget investors. Also some more specifics of the PLAN, such as carrying the books, file taxes and actually taking care of all internal deployment, control and administration. I understand that guy, Tardi, will take care of simple orders, but what happens when there has to be 24/7 customer service, administration personnel, implementation and distribution personnel... because, as you keep on pointing out, this is not just (let me put that "just" in quotes) a few models here, a bunch of gamers there, a control of content so the authorities don't just close the shop, but constant search for IoT venues, such as there cameras... also, again, explain to me how you can make money of things that are already in use and have been for many years, completely for free. For instance, anyone with a smart phone can control the temperature of his refrigerators from across the world, not to mention the thermostat of his/her  air conditioning, record TV programs etc... all for free. How do you beat FREE? Again, I'm sure I'm missing a lot here, but confident you have all bases covered.

Once I have all that explained clearly to me, I would gladly test these cameras that have been selling for years and, frankly, don't require your software at all for they come already equipped with everything necessary to connect them to your internet... Once again, I am missing something here but will be anxiously awaiting for your clear explanations and willing to get on the phone with Jamie Dimon himself to get this -and the enormous savings it will bring to him- implemented at every Chase office nin the planet.

Exactly what was the scam part? Did Garza run out with the money? Did he dump massive amounts of it at the top?

Just to clarify,

As probably most users of this thread understand, the GadgetNet video streaming services jizzmo and streemo, as part of our generic IoT framework aims to provide a live video streaming software. Netflix - as probably most of you know that and in case if don't we explained it above - provides VOD, video on-demand service. VOD, Netflix's business has nothing to do with live streaming. Live video streaming and GadgetNet are different than what Netflix does and offer.

As we explained in our latest update, we have been working on integrating CCTV camera devices, exchange integration, the UI, etc. and therefore, we are not only working on the press release and nothing else.

Just remember that barabbas is either an idiot with too much time on his hands, or a professional troll. You wouldn't believe the amount of coins that he comes in and FUDs with daily essay length ignorant posts. Yet he supports Paycoin.

My guess from your insistance of us sending you 1BTC to "cover your costs" is that you just want us to send you money

so we can work out the best way for you to get here.

As for Byrons response to you none of us here (including myself and Mark) have any issue with the way he responded.

I bet you still think bitcoin is a ponzi scheme.

And let us get on with building this crypto business

so are you really surprised at the response?