I am happy to help. Our business have plenty of Linux virtual machines. These are low end 1 GB memory boxes. My understanding was from what you said in this thread that low end boxes could run the nodes. Do you need SSH access to the boxes? How many you need? 1, 5, 10? How many forged coin could we get from one node/box?

It probably will be. Bitcoin will be still there, in my opinion a very few, perhaps 1-2 blockchain based, smart contract solutions will be there too, but yes the +500 BTC/LTC clones, even perhaps not clones like NXT will be gone ... as Barabbas pointed out there is absolutely no use of those coins.  All coins will be disappear that has no use.

Mining certainly doesn't make more decentralized or democratic the distribution process. How a miner with hundreds of mining rigs is more transparent or democratic than an ICO investor with 100 BTC?

Actually, I start agreeing with the Skycoin dev  - who is probably the most amazing in the business terms of knowledge and vision  - that miners bring nothing to the table and are the cancer of digital currency.

Anyway, back to the topic VeriCoin, we investors understood and accepted this distribution model, accepted that there are miners, each of them with possible millions of coins, the main issue is that the fucking transparent developers, the two PhD and one Microsoft Stooges made the hype but never followed it up with delivery.

Also, I think in order to succeed you need to explain better your business case and why blockhain and peer to peer enabled Internet of Things apps are good investment opportunity. The fact that IBM has entered into the race indicates a multi billion dollars business opportunity in this field, the question that need to be answered is, how coins like Bitbay, TileCoin, GadgetCoin can make money for investors? I asked this very same question actually from Bitbay and TileCoin in the past as well, and non of you guys, IoT coins provided investors with a clear business plan yet.

I am saying from the beginning that fucking miners are loaded with heaps of VeriCoin and they dumping it slowly driving the price down. And now I read on the "official" forum that one of the respected community member is a miner with loaded who knows how many, potentially millions of coins. Seeing PNosker's corrupted personality/attitude I wouldn't be surprised if he would be one of the unknown miners and he would dump the thing piece by piece.

I said in this forum few times that the devs deserve respect for the fair distribution of VeriCoin, I mean at least the distribution was not an obvious scam. In the meantime the argument is very valid that a mined coin isn't more fair than an ICO coin. What's the difference between allowing people with lots of hardware get the coins instead of people with lots of money get the coin?

I think our conversations highlights the biggest issue with those tech altcoins: they can't even explain the business case, so investors are quite understandably ignore them.

That particular IoT use case is lot more what your iPad application offers which is only provides high level controls. I understand from end user viewpoint only the high level control matters (i.e. open your garage door), but in order to actually execute your hardware there are a lot more happening behind the screen which hardware manufacturers and integrators need to deal with . I believe that's why IBM is super excited about having a simple infrastructure that potentially could manage security, provisioning, configuration, upgrade, payment and end user interface aspect of the hardware. Yo see, your iPad manage only one element of the aforementioned few, the end user interface.  

I wouldn't be be surprised if with IBM's push the blockchain and peer to peer based Internet of Things market will be a multibillion dollars business very-very soon, bigger than the whole Bitcoin today - excluding the payment part of the technology which is even a bigger potential market than hardware management. So never mind the payment side of the tech, but if  only one Japanese car manufacturer pick up the technology to use its hardware management, connectivity, security features then the gross market of the tech will exceed Bitcoin's, and I have no doubt IBM will find the way convince manufacturers to use the technology. Until this ecosystem is finalized, there will be plenty of opportunity for the IoT coins (that's why I started to chat with the BitBay people in the first place) as for mainly price reasons not everybody in this business willing to deal with IBM.

The big issue is, what you have pointed out very correctly that these coins can't even explain the use case, business, opportunity and how investors' could make money from it, and therefore most of them probably will be in the altcoin graveyard without making any impact.

Let me think a bit about what you said :-))) because it make a lots of sense ... so I would have to re-read what the IBM chief scientist says about building blockchain based applications for the Internet of Things. Before I do my research and re-read all the materials here is how I see this (and it is very possible that I will change my mind after thinking a bit more about it).

As for the IoT, I think you are absolutely right, asking $5 subscription fee for opening a garage door is ridiculous and doesn't make sense, but I think what IBM and these few IoT coins say is, that the value is in selling the hardware services on a tokenized system (e.g. what VISA builds too by recognizing the value of the digital currency concept). I think IBM is interested because a blockchain enabled hardware could take payments and it seems to me IBM suspects even more value in the hardware management capability of the technology, namely that the peer to peer network allows secure hardware management. I could be wrong, but I think the fact that IBM see a business opportunity indicates that the tech solves an existing business problem. IBM want to charge $5 per year not for opening the garage door but for providing a system that allows you to manage your devices on the network. For example, assign the permission to anyone, while you are on a holiday. Let say I am having a holiday in Cyprus and I get a phone call that a repairman needs access to my garage in the UK, then I can assign that permission via a simple peer to peer application because the security is handled via the blockchain, and then the repair man can open the door using his android phone. Before he opens the door, to allow the repairman in, I can temporary disable the alarm system that is managed on the blockchain too. I think IBM is excited about the technology, because it allows the management and inter-operability for all home automation and industrial devices.

As for the AI, I like the idea, not because AI related services could be sold on the blockchain, such services could be sold everywhere, but the AI decision making process could be orchestrated on the blockchain. To describe a simple scenario, there are regional meteorology stations which gather data for wider spectrum forecast and a blockchain/smart contract system could be the platform to manage the forecast decision making process.

The BRO gambling use case definitely make sense, it will be interesting to see how it goes.

I am not sure to be honest and mainly I am interested in the concept instead of implementation details at this stage. I am not sure that the two particular coins that I quoted will be successful at all, what I tried to say that coins that address such use cases like AI or IoT, and solves problems could be the survivals.

I suggest the Gadgetcoin developers read this thread, especially the first post at

https://bitcointalk.org/index.php?topic=869078.0

where Barabbas as always makes sense and explains why the altcoin market is finished.

If you read Barabbas arguments and reasoning you will understand that as a developer with Gadgetcoin you have a very unique opportunity, as  - in contrast with the another 500 BTC/LTC clone  - you have a real use case. Your coin could be useful to solve a real life business problem (just like the AI coin that I quoted above does), and GadgetCoin could actually attract new money/investment into the digital currency market.

Thanks Barabbas for this thread! It's eye opening as always :-))) and hopefully the naive, wannabe be rich new crypto investors will start their journey into this market (and inevitable disappointments) by reading your fists post.

As for the prospects of digital currencies general, there are a very few concepts that due to their use case will survive. For example, Ethereum must have a place in technology world because it provide users with solutions to real business problems. Ethereum's smart contracts are useful in solving many real life business problems from autonomous companies to decentralize crowd funding -  in contrasts with the +500 BTC/LTC clone that are completely useless.
There are a few other interesting experiments that could be successful. Lately I am very interested in these projects

https://bitcointalk.org/index.php?topic=864895.0

https://bitcointalk.org/index.php?topic=854280.0

This type of ideas that solves a real business problem in my opinion could be survivals. There is no chance any altcoins could compete with Bitcoin, and I expect that the surviving alt currencies will be specializing to areas like AI, IoT or recruitment.


 

Thanks for documenting and archiving the events of the BitBay money gathering jamboree. As we discussed in other threads and you pointed out here as well, there is no way an ICO could collect 3000 BTC in five days in this over-scammed and depressed market. The volume, the lack of transparency, the army of newbie nicks whom job is to repeat the message over and over how rich everybody will be be very soon and all other circumstantial evidence indicate that it is a scam.

Zimbeck is a very talented young man and it is sad to see that he ended up in assisting a shameful money collecting operation.

This coin, just like this

https://bitcointalk.org/index.php?topic=864895.0

are very interesting indeed.

We need new technology in the altcoin market. The +500 BTC/LTC clones have been proven completely useless, no one use them at all, there is no use case for them. At least the AI coin and this has a practical use case. In this case, open a security gate using smart contracts, in the meantime charge fees in digital currency. No wonder IBM entered into this field recently.

But apart from the tech aspect, the main money making opportunity here for us investors probably the broker and MLM smart contracts. If the 10 million strong MLM community pick up the idea of selling digital currency to each other, then that will bring 10 of millions of dollars new money to the altcoin market.

Will the the broker MLM smart contracts support to sell other currencies like VeriCoin or the SuperNET assets via the Gadgetcoin network?

It's quite clear, at least I am convinced that a few cheerleaders (perhaps the quiet ones) are heavily loaded with VeriCoin and they have been slowly dumping it since June. There is a total more than 26 million coins, and there are a few users who hold possible millions of coins which were primarily acquired by mining. A few big wallets are slowly dropping their coins on the market. Since the sell is constant and there is no new money entering into the altcoin market, VeriCoin's price is declining. Still millions of coins owned by the miners (most likely the devs as well), they will continue to sell. Even at 3k price they realize a nice profit, but this combined with the non-existent development makes this coin a completely useless fucking thing.

It seems this coin has a hard working, decent, professional DEV and an idiotic Chinamen brigade who learnt from the western world how to use computer, drive car, assemble iPhones - basically everything, except they didn't learn to be rational.

Still, because of the DEV and the Counterparty technology, the fact that TileCoin (if I understood correctly) will be able to handle Bitcoin in the context of IoT application makes this coin perhaps a viable investment opportunity.

As you can read it, my last post and suggestions about the hardware has more substance, constructivism and brought more to the table (regardless the DEVs take on board my suggestions or not) than the combined effort of the clueless Chinamen brigade had brought to the table up to date.
I suggest you go back to the BitBay thread. Oh wait ... even the BitBay community - that hypes the price desperately - disowns you and ask you to leave the thread - that says a lot about you.

Or perhaps, you a BitBay boy and you are worry that my suggestions to the DEV makes this process better, they will have a better hardware and therefore they could be more competitive?

Any update on software, business, marketing or really on any areas from the cheerleader camp? How is the price doing? I guess the leader Jay Jay still doesn't understand why the price is so low and who is selling.

This proposition sounds better and better. Exciting times ahead for hardware and Internet of Things related coins. I think, apart from cocaine sale on the dark net, hardware and Internet of Things is the area where digital currencies and peer to peer mesh networks could be very useful and make an immediate impact.

Thanks for replying and sorry for not noticing your post earlier. As I said, I have been interested in your tech from day one, just the level of innovation put me off. However, I can see you work hard and that's one of the most important ingredients of success, and your professional attitude makes me more and more interested in your project.

As for this board, if I see correctly you use Eagle CAD like most hobbyists do. If I invest in your coin and if it required at all, I am happy to get you a few Altium Designer licenses so you will have the proper tool to get the job done.

I assume you will use Atmel security chips to perform the cryptography function - not too many other alternatives for dedicated crypto devices. Here is a friendly advice with the best intention: be very careful with Atmel. I invested last year in a start-up  here in the UK. The boys designed their solution around the previous Atmel Zigbee chip which is based on the ATMega1284, and then Atmel suddenly discontinued the product. Atmel is notorious to do that. So obviously you do what you want, but I would avoid Atmel, especially that their crypto chips are low sellers and they could discontinue them at any time.

Anyway, that issue about Atmel is actually academic because the whole device doesn't make sense (or at least from your description I misunderstood what it does), and to show my good faith, to save you $ 100,000 and from an entirely wrong direction I say this: your approach to handle the mesh network nodes with your custom hardware is completely wrong and unnecessary. What you aim to achieve the industry typically handles with Zigbee modules which make custom designs like yours is completely obsolete. Why do you invent the wheel when the members of Zigbee Allience invested over 1 billion US$ to address low power radio communication and mesh network topology issues? The Zigbee protocol and Zigbee devices are perfectly capable to handle everything what you try to achieve. You see, I just saved your coin from a completely wrong direction and tons of headaches :-))) and I did it in a good faith.

Anyway, thanks for your civil and professional reply, I will read more about what you try to achieve and if everything adds up I will be happy to throw some money into this as well, just like I am interested in all IoT, M2M, smart contract, AI, etc. novel ideas.

Thanks for sharing your view. It seems I was more or less spot on in my heated debate with the BitBay brigade.

When I said them, guys, this is ridiculous that you deploy this newby, secondary, third, and fourth account cheerleader army to promote your fucking scam ... not surprisingly they deleted my posts. Since, the newby accounts as you said use the exact same methods that have been tested with many pumped coin. The methods are including but not limited to predictions about being millionaire very soon, forecast of 1 billion US$ market cap, taking on Ebay and of course the graphs with the arrows that point ... of course up. Just like in the old, pumping days at vericoin.

When I said to them, guys, it must be the desperate Blackhand group behind your scam who can't get more juice out from BlackCoin, they ran to the BCT moderator that I accuse Zimbeck with fraud and of course deleted my posts again. At the time I didn't assume Bobsurplus' involvement, but as you said he could be there and since that he actually appeared on the scene as a "private investor", so of course he has been part of the operation.

When I said them, guys, your volume is fake, you have been buying at least a good part of your own ICO, then again the devs deleted my posts.

The deletion of my my posts very much underlines what you said, that the reason for a moderated thread is to hide the truth or at least hide inconvenient information.

And right now, the people behind the scam are dropping their coins in 0.1 BTC chunks while the noob nicks having a standing ovation in the thread what a great opportunity to buy. Well known and disgraceful way to make money.

I will be very curios to see whether you are right or not about the limited pump opportunities there. Of course there is no liquidity to support a lot higher price, but isn't it possible that BH & Bob & Co have put a big fund together to pull out a giant pump and similarly giant pay day when the dump come? But yeah, who will buy into their pump? I guess we will see.
 

What is the rational behind your suggestion of exposing this coin to miners? What miners could bring to the table?