Could we get clarification about the confirmation (block, transaction) times? Quick transaction is key with hardware and you claim 24 seconds transaction time which is not too bad. When can we see a working software that demonstrate this feature?
BTC ecology is more important than transaction time.You can refer to XCP. Tough I have been using Bitcoin for years I don't know what BTC ecology is ... but I believe if you want to perform an Internet of Things function then the transaction time is pretty vital. I thought, if you want to turn on a sensor or turn on/off a light you can't wait 60 seconds until the transaction is processed (i.e.. included) in the blockchain. This is a wonderful project like BitBay or GadgetCoin and I am sure you have a working solution, I would just like to understand how your solution works terms of one of the most important aspects of it, the real time hardware control. XTC is directly based on BTC blockchain. The transaction time is BTC block interval. All right, so how the real time hardware control that is vital feature for any Internet of Things applications is possible with a 10 minutes confirmation time? Do we need to wait 10 minutes to turn OFF/ON an IoT controlled light switch or are you doing CHECKLOCKTIMEVERIFY like the BitBay team or you do instant transaction based on the Ethereum account balance concept using a completely rewritten software like GadgetCoin does or what is your implementation details please? The main applications of XTC are these based on BTC blockchain. You can see in OP. 2.1) TilePay is the wallet for TileCoin/Bitcoin and other cryptocurrencies 2.2) TileVest is the crowd-equity funding mechanism 2.3) TilExchange is the decentralized trading platform (possible cross-chain capability) 2.4) TileClub is the Investment Club 2.5) TileLend is a decentralized cryptocurrency lending platform 2.6) TileGateways is where TileCoin is converted to other cryptocurrencies and Fiat Wtf are we talking about? :-))) Have you read my question at all? You have replied second time to my question, but in both occasions you completely ignored to actually answer it. Let me know which part of my question made you post that 6 completely irrelevant points and also let me know what is the reason you ignore my simple question about IoT real time hardware control and transaction times. |
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Still, this is one my favourite coins, the dev seems incredible knowledgeable and talented. Though he need some help on the front of community building and marketing.
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He's simply a pissed-off bag holder and definately not the master mind of some diabolical plan to suppress VeriCoin's value.
I think you are quite correct with the description of the nature of my involvement in this process :-)) But please don't be surprised that the hard core cheerleaders come up with conspiracy theories to explain why this coin is so failed. It's never the lack of progress and incapable developers ... it's always something else, and depending on the level of madness it could be shady investors that try to push the price down or the international Jewish network that controls the world but jealous of VeriCoin's infinite success or the CIA or the Russian Red Army or the knee injury of Kobe Bryant or the climate change ... or the ebola virus ... everything has a role in the complete failure of VeriCoin - expect the wonderful developers and guys like Jay Jay and this trolling pants boy. I personally vouch for the total insignificance in the whole process of both the the Jay Jay and the pants-boy. Fair is fair. They will be very much offended to be called insignificants. It's amaze me how the comfortable the cheerleaders are with the crashing price, no progress and the complete non-existence of the community and supporters around the coin. |
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He's simply a pissed-off bag holder and definately not the master mind of some diabolical plan to suppress VeriCoin's value.
I think you are quite correct with the description of the nature of my involvement in this process :-)) But please don't be surprised that the hard core cheerleaders come up with conspiracy theories to explain why this coin is so failed. It's never the lack of progress and incapable developers ... it's always something else, and depending on the level of madness it could be shady investors that try to push the price down or the international Jewish network that controls the world but jealous of VeriCoin's infinite success or the CIA or the Russian Red Army or the knee injury of Kobe Bryant or the climate change ... or the ebola virus ... everything has a role in the complete failure of VeriCoin - expect the wonderful developers and guys like Jay Jay and this trolling pants boy. |
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Could we get clarification about the confirmation (block, transaction) times? Quick transaction is key with hardware and you claim 24 seconds transaction time which is not too bad. When can we see a working software that demonstrate this feature?
BTC ecology is more important than transaction time.You can refer to XCP. Tough I have been using Bitcoin for years I don't know what BTC ecology is ... but I believe if you want to perform an Internet of Things function then the transaction time is pretty vital. I thought, if you want to turn on a sensor or turn on/off a light you can't wait 60 seconds until the transaction is processed (i.e.. included) in the blockchain. This is a wonderful project like BitBay or GadgetCoin and I am sure you have a working solution, I would just like to understand how your solution works terms of one of the most important aspects of it, the real time hardware control. XTC is directly based on BTC blockchain. The transaction time is BTC block interval. All right, so how the real time hardware control that is vital feature for any Internet of Things applications is possible with a 10 minutes confirmation time? Do we need to wait 10 minutes to turn OFF/ON an IoT controlled light switch or are you doing CHECKLOCKTIMEVERIFY like the BitBay team or you do instant transaction based on the Ethereum account balance concept using a completely rewritten software like GadgetCoin does or what is your implementation details please? |
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So could you answer please one of the most important questions for the IoT feature: how the software works terms of real time hardware control. So far none of the IoT coins (BitBay, TileCoin, GadgetCoin) answered this question and I hope you have the answer.
Let see a very simple and basic IoT sample, you have a light switch controlled by an Internet of Things Zigbee switch sensor, how do you turn on/off the light, do you wait 60 seconds until the transaction is included in the blockchain or do you have a workaround to complete the smart contract quicker to execute the hardware control?
I am very interested in your coin :-)) it is a great project and I am sure you have managed to make it work and it would be great to know how the solution works before making a decision about investing in the coin.
Well there are a few techniques to this. With checklocktimeverify, there is a whole bunch of new types of spending we can do. For example, we can spend so coins convert to a different address later, we can lock coins for months at a time. A 2 of 2 multisig account can convert to a 3 of 3 or (really anything)... its all about how you want to program the device. With that said, most devices will need their own key and will sign on its own behalf. This would be used for more than just spending money. Since you get a secure connection to the device, it can hold coins, it can perform contracts with you etc. Thus, using double deposit we can create a set of rules and protocols interacting with the device. One example is a hardware staking wallet with multisig. At Blackcoin they are working on this. Their lead dev rat4 already coded in multisignature staking. It was lovely. So that just needs to be applied in the context of a device. This is just ONE example. Losing your hardware need NOT lose your coins even in a 2 of 2 multisig since we can lock the coins to convert back to the users key at a later date. I think you are referring to Peter Todd's CHECKLOCKTIMEVERIFY implementation. Peter is contracted right now to ViaCoin, in this case they are working on the same stuff as you do. I thought the main issue with the CHECKLOCKTIMEVERIFY for IoT application is the timing, but I could be wrong. I understand with CHECKLOCKTIMEVERIFY no need to wait for the 10 minutes confirmation time before agreeing on an escrow for example, but I would think for IoT is still not feasible as it will still take 20 seconds or so to complete a contract. Thanks for your reply, it's great! |
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I asked this in the BitBay and TileCoin thread as well, could we get clarification about the confirmation (block, transaction) times? Gadgetcoin claims 1 second transaction time which sounds very-very unlikely, how the software achieve this transaction time? When can we see a working software that demonstrate this feature?
We are testing the wallet, we will compile a video this week that demonstrates the 1 second transaction time and before the end of this month we will give access to a working wallet to test the software on our test network. The tech behind the 1 second transaction time required a radical new concept and implementation. That's why we have been writing our software completely from scratch. This project is only feasible if the transaction is instant. To address this fundamental requirement and to speed up transaction confirmation time we needed to eliminate mining completely from the process. If miners confirm the transaction then the 1 second transaction time would not be achievable. The GadgetCoin protocol implements instant transaction processing using account balances and participating nodes confirm the transactions instead of miners or staking nodes. The peer nodes create the block using a method called Proof-of-Consensus, PoC. In the Proof-of-Consensus method the participating nodes form an agreement about the block. The other major difference is, unlike in Bitcoin where payments are related to addresses, the GadgetCoin payments are linked to GadgetCoin accounts and payments are reconciled against account balances. Similarly to bank transactions, the smart contracts calculate the new balance by performing a simple add/deduct operation. This concept was presented by Ethereum and we think this is the most sensible transaction processing implementation for our targeted industry and user base. Thanks, I am still very-very sceptical about instant transaction time :-))) but I look forward to testing the software, I will check the progress. |
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So could you answer please one of the most important questions for the IoT feature: how the software works terms of real time hardware control. So far none of the IoT coins (BitBay, TileCoin, GadgetCoin) answered this question and I hope you have the answer.
Let see a very simple and basic IoT sample, you have a light switch controlled by an Internet of Things Zigbee switch sensor, how do you turn on/off the light, do you wait 60 seconds until the transaction is included in the blockchain or do you have a workaround to complete the smart contract quicker to execute the hardware control?
I am very interested in your coin :-)) it is a great project and I am sure you have managed to make it work and it would be great to know how the solution works before making a decision about investing in the coin.
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Could we get clarification about the confirmation (block, transaction) times? Quick transaction is key with hardware and you claim 24 seconds transaction time which is not too bad. When can we see a working software that demonstrate this feature?
BTC ecology is more important than transaction time.You can refer to XCP. Tough I have been using Bitcoin for years I don't know what BTC ecology is ... but I believe if you want to perform an Internet of Things function then the transaction time is pretty vital. I thought, if you want to turn on a sensor or turn on/off a light you can't wait 60 seconds until the transaction is processed (i.e.. included) in the blockchain. This is a wonderful project like BitBay or GadgetCoin and I am sure you have a working solution, I would just like to understand how your solution works terms of one of the most important aspects of it, the real time hardware control. |
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Could we get clarification about the confirmation (block, transaction) times? Quick transaction is key with hardware and you claim 24 seconds transaction time which is not too bad. When can we see a working software that demonstrate this feature?
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I asked this in the BitBay and TileCoin thread as well, could we get clarification about the confirmation (block, transaction) times? Gadgetcoin claims 1 second transaction time which sounds very-very unlikely, how the software achieve this transaction time? When can we see a working software that demonstrate this feature?
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If the ICO reaches 2000 BTC then that will indicate an enormous market acceptance and then I should be definitely part of this project! :-)))
Could we get clarification about the confirmation (block, transaction) times, how does that works with the hardware, i.e. is the hardware idle until the transaction is confirmed and when can we see a working software please?
I should ask these questions in the TileCoin and GadgetCoin thread as well ... I am betting on these coins.
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Below is a quote I saved from AltcoinUK people, post 381 in his history. He may have deleted it by now so you can check the dates. He works for a pump group do not trust anything he says he just wants to buy your dumped cheap coins. As far as Barabus they just may be the same person.  Ouch UK the truth must hurt If you have a real interest in vericoin come to https://www.vericoinforums.com. I am there and so is the rest of the team. Quote from: altcoinUK on July 07, 2014, 06:51:11 AM We would like to buy more but can't :-))) We bought a lot at 14K-17K, a bit at 47K and lot more yesterday/today at 30K-35K. We are happy, never sold a VRC so far and keep staking. That's all our team from Russia could do for vericoin for the time being :-)) Yes, I want to buy cheap and good coins - unfortunately VeriCoin fits none of these categories at this moment in time. No development, no progress and declining price. Though I hope very much this will change so I can sell my VeriCoin bag and wish good luck the VRC developers. They are I am sure nice and reasonable young guys, I have nothing against them except that they are lazy and don't develop the coin. |
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How much coins will stay by the development team?
What is the timeline for all this fantatsic features? Will you be able to deliver this things before Ethereum and NXT?
We'll have coins set aside for different parts of the project. Some coins will be sold immediately for working capital. For a time line, we can tell you that before the new year you'll have a new client that is multi-coin, has smart contracts and a marketplace. Coins? How much? Percentages please? And donīt you think that 64s blocktime is way to slow for festures like marketplace and smart contracts? I was just about to ask this too. 10 confirmations too? I was about to asking this too. I am very interested in hardware and IoT related coins, this is definitely the future, I like the BitBay, TileCoin and GadgetCoin projects. The key question is, do these coins will work at all? If you want to operate a hardware you need real time control. If you want to turn off/on the light or execute a servo motor or open a hardware controlled door the real time control is a must. This coin claims 60 seconds confirmation time, Tile Coin claims 24 seconds transaction time (in the future) and GadgetCoin claims 1 second transaction time. As we all know, in hardware world even 1 second is very long time :-))) As I said I am very interested, but I would like to see how the smart contract works in practice with BitBay, TileCoin and GadgetCoin. Probably all of them have future but the transaction time will be key in deciding which will be the most successful. |
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The ML is quite a sensitive area in my opinion. It's one the trickier questions that we face - should we control how the users use the software, or allow the software to be utilized for any possibility? I think it is better if the community would decide by voting whether or not to enable MLM type of trading on the GadgetCoin Network. As far as I know multi level marketing is often associated with pyramid schemes and as a result gained somewhat of a bad reputation, but the real draw of the smart contracts and being open source means that we can support all types of trades. If the community is OK with that or does not care either way, then I see no issue utilizing the power of smart contracts for anything that is not illegal.
Great, in my opinion smart contract technology is the future. I am a very big fun of Bitcoin, but it is not possible to execute complex trades like MLM with Bitcoin. Ethereum also talks about complex trades like your revenue share model. This can be a very big hit if it works. Ehereum will be very jealous if the gadgetcoin wallet will be really released by 15 December. Dev can you touch on this : Comes with GadgetCoin firmware So the wallet will be in the firmware? One of our main targets are the broadband routers, there are more than 500 million broadband routers, they can be secured and managed with our smart contract technology. These router devices mainly runs Linux and there won't be any resource issues. 500 million is a big number :-))) new coins like to talk about big market opportunities, but how broadband routers will benefit from GadgetCoin? |
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I am reading your white paper, there are lots of info in that, probably too much.
I understand the revenue sharing smart contracts and it is a really great idea. On that note, does your smart contract technology supports multi level marketing (MLM) type of trading? Is it possible to set up multi level sale for the hardware services if I manage the hardware on the Gadget Network using the gadgetcoin software? Similarly, would the GDC wallet support multi level marketing for currency sell? For example I have 100,000 GDC and want to sell it, can I set up my own multi level chain so I can get commission from GDC sales from the underlying sellers?
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So i already know, what's the real motive. And of course a trust worthy little bird told me, what you two want to achieve. Scaring week hands. So you can scoop up more VRC. So the truth is out, you will try to hide it, with nonsenses of words.
And it's always something behind the price change ... and of course it's must be the "FUD". Since devs closed the official, uncensored thread and there is no "FUD" only the new wonderful positive forum, the price dropped another 20%. So that indicates to me, after all it's not the "FUD" what drives the price down, but lack of development, transparency and the very poor decision to implement the decentralized cloud feature. |
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altcoinuk and barbarass: please provide your name, lastname, picture. ID scan would be nice. I'm talking about transparency here. You want to be on the same open level then dev's, and want to be taken more serious? first identify yourselves!. And it's not the first time people come to fud VRC, and bought a lot of cheap VRC. But then they where at least so honest to admit, they where fudding to buy cheap VRC. Both of you can't do even that, oh sorry you didn't buy enough yet. Even scamcoins of scamcoins, don't get so much intense fudding day after day after day, talking same trash again and again and again. So i already know, what's the real motive. And of course a trust worthy little bird told me, what you two want to achieve. Scaring week hands. So you can scoop up more VRC. So the truth is out, you will try to hide it, with nonsenses of words. ID yourselves, until then, both of you are just a bad joke. This is not official BTC topic, it was open buy unknown guys. Official BTC (opened buy devs, that we know who they are) was closed by community voting. Anybody has any question regarding VRC, devs and others would be happy to help at official VRC forum: https://vericoinforums.com/Personally, I am not buying VRC. To be honest, in the last two months I don't even open my wallet and couldn't even bother staking the coin. Though I hope the developers change the direction of current non-direction and increase the value of my bag-holdings. With all due respect, I think you completely misunderstand what we do here. We just share our opinion here, say out whatever we think about VRC, both positive or negative. As for me, lately I can't think any positive, can you? |
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I like these IoT coins :-))) the market is virtually endless.
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As I said in their thread too, I like BitBay and Tilecoin, the two other IoT coins and this one seems a very good idea too. The market is endless for IoT, as you said Gartner projects plus 20 billion connected devices. That's a lot of potential customers for this and other IoT coins.
I am a very much against IPOs that completely destroyed the altcoin market, so very well done for not collecting moneys up front!
I will read the white paper, it's quite long by the way and will come back with my questions.
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