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I think this is the very few coins/projects that could work out, and based on what I see here and W3C and hear from the devs I think it will work out. I am HODLING, not selling shares at this stage.
@mtomcdev
I know you are busy with releasing the new software and updating the white paper, but it would be great to get an update about the progress
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THe market is the market is the market.. the most efficient and best money will win sooner or later. Suppression can only prolong the inevitable wether it be in our lifetimes or the next, ideal money will always win. Just so happens that it wasnt possible before and it is now because we have the technology to get there. That's all it is the realization of the possibility to start the wheel which can't stop rolling.
Essentially I agree. I believe the society in long term is getting better, and I agree that decentralized digital currency will eventually overtake conventional money. What I am saying by agreeing with Armstrong is that in short term governments and law enforcements will stop the spreading of the digital currency idea by criminalizing it. I am not sure for how long TPTB can stop the spreading of this idea, perhaps 5, perhaps 10, perhaps 20 years, but they surely will keep the vast majority of population (99.9%) away from decentralized digital currency by making it illegal. As it will be illegal, 99.9% of the society simply won't touch digital currency. That's how society functions. We crypto currency enthusiasts or at least some of us will resist and still using it, so the concept and the technology will survive and then the next generation or the following will finally implement it. As Armstrong points out, the ruling class and government will be desperate for collecting more tax money. To collect more tax and to expose more power on the society they will try to do everything. Eventually they will fail, but the desperation for the tax money and power will take for a while. |
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Governments may not like it (right now) or act like it, but crypto in it's current form is still a banker's wet dream. There are plenty of finTech startups leveraging blockchain or crypto tech. One even headed by Blythe Masters. Banks are not scared of Bitcoin (even a UK Treasury study noted it was an extremely low money laundering/crime risk). The banks will help government claw their pounds of flesh from the populace with their own brand of crytpo. There are differences between using blockchain technology and liking Bitcoin. Yes, banks recognize how genius Satoshi's innovation the blockchain is, yes the banks are implementing systems based on the blockchain technology and yes, no doubt the blockchain technology will be used by businesses. However, they must comply with laws and regulations - law enforcements will crackdown non compliant systems. The banks will enable centralization on the blockchain by providing law enforcements with interfaces and access to the audit records, in fact to all payment records. Such compliance will include providing access to cryptography primitives, including having a centralized master key or any other form to decrypt the communication (see the latest UK legislation). Barclays, RBS, HSBC etc will simply comply - no other way they can do business. |
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Meh, whatever, it is an "Engineering Requirement that Bitcoin be Above the Law". Cheap coinz incoming tho  All western parliaments will vote yes for implementing laws and legislations to criminalize digital currencies. As the Skycoin developer (see his posts in the Skycoin thread, he sounds and intellectually at sort of the same level like the one and only TPTB btw) and of course Armstrong argue that it will be simply criminal act to use such systems, and therefore people - the current few hundred thousands BTC users - just stop using it. it is not about "using" bitcoin for visa transactions and IoT BS, but rather about saving/hedging/hiding from TPTB, its financial crisis and the upcoming bails in. i use bitcoin just because i control my private keys. and imho the rest is irrelevant. I am not sure how the "rest", i.e. that governments simply criminalize digital currencies is irrelevant. Armstrong is a wise man. He understands that once laws state that using Bitcoin is illegal and law enforcements start moving against Bitcoin then that will be the end of BTC. Unfortunately, TPTB can make anything illegal and they are so desperate that they will be doing everything to keep the status quo. |
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Meh, whatever, it is an "Engineering Requirement that Bitcoin be Above the Law". Cheap coinz incoming tho All western parliaments will vote yes for implementing laws and legislations to criminalize digital currencies. As the Skycoin developer (see his posts in the Skycoin thread, he sounds and intellectually at sort of the same level like the one and only TPTB btw) and of course Armstrong argue that it will be simply criminal act to use such systems, and therefore people - the current few hundred thousands BTC users - just stop using it. EDIT: The crackdown is not a big deal actually. After 5 years of endless and intense media hype, Economists, Times, etc. cover pages and hundreds of million dollars venture capitalist investment into the BTC ecosystem, there are no more than few hundred thousands active Bitcoin users. A well managed and marketed social media, never mind adult video site could attract several million users within a less shorter period. |
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Devs! I posted this to the Armstrong thread. Whatever you are releasing is, please keep in mind that decentralized payment systems such as Bitcoin will be cracked down by governments and law enforcement agencies. Therefore, please stick to your plan of your trusted node concept which allows compliance with laws and regulations, and provides law enforcement with access to the payment records and audits. Of course it is not good, it's a rather depressing move from the governments, but that's what it is. That's the world we are living in. If you want to exists and make money then you must comply with laws and regulations. |
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what is the story with Iota? they will be definitely very strong competitors maybe leaders in IoT.
No, they won't - except they will be leader in collecting money and they will be the IoT leading platform of Bitcointalk forum. The Iota crew is a very, very talented bunch of people. Iota will develop an interesting piece of software. Their unique selling point (USP) is processing millions of micro payments with an infinitely scalable system (their Tangle innovation), but that is not the most important IoT business requirement at this stage. It won't be even in 10 years time an issue IMHO. The talented Iota devs are good at software, but they never worked on any IoT projects. Therefore, they don't know what the industry is. They have heard that there will be 50 billions of internet of things devices by 2020. And then they made the calculation, that for the 50 billions of devices need millions of micro payments per seconds. Like the billions of devices would be a homogeneous system - which is obviously not. As I said earlier here is what will happen: Iota will collect $500k perhaps $1 million, then the investors start selling the coin to each other for a year or so, and then that will be the end of the story. mtomcdev and tzpardi, can I ask your opinions, is the infinitely scalable micro payment processing, to manage millions of transactions the main issue of IoT at this stage? My understanding was there are more pressing issues such as lack of standards, provisioning, security, etc. i know what you are saying, but I think IOTA will replicate the financial success of NXT. so far we had no ROI with gadgetcoin, at least I can make money with IOTA. i still support Gadgetcoin but I don't want to miss the money making opportunity with IOTA. Nothing will replicate the financial success - which was success for the developers and the first few dozens, maximum first few hundred buyers by the way - of NXT and other successful altcoin IPOs of the past 1-2 years. Those times are over. No new money is coming to ALT digital currency any more. (The Ethereum devs will be able to attract a very big VC money but ETH is an entirely different story - always has been) The so many scams, failed business plans and failed developers simply keep away all rational investors from this market. There is not even a market any more - see the pathetic volume of Bittrex. The money that IOTA will raise will come from the audience of this forum. That's why I said, once the IPO is over the buyers of the coin will trade it with each other because there are no new buyers/investors any more. There will be pump and dumps, and yes, if you are lucky and will find the right exit point and don't try to catch the falling knife then perhaps you could make money with IOTA. As I said, I have no doubt IOTA will be very successful in the context of this bitcointalk.org universe, they are talented so it will be very popular in the world of few hundreds bitcointalk.org digital currency enthusiasts, but that's all will happen IMHO. Just like yourself, I am also upset that we don't have profit with GadgetCoin yet. Still, I am very optimistic. Based on what I can see about the technology, W3C, the DAC company share distribution and targeted use cases, I still think this could work out very nicely. |
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Bitcoin will not survive.
I agree with that and we have been discussing this at the Marty Armstrong thread. Armstrong - who has been pretty much spot on virtually on all major issues - projected what's going to happen: governments simply won't allow Bitcoin grow over a certain size. Once Bitcoin start threatening the tax revenue then governments and law enforcement will act. Now, the usual, naive, idealistic and childish arguments of the audience of this forum against this premise is that Bitcoin is decentralized, and therefore it is impossible to shut it down. In contrast you have very nicely summarized how in fact governments, law enforcement and big tech companies can and will implement a system that will simply disallow for average users to use such technologies. Since 99% of the users are less tech-savvy, the future or more precisely the non-future of Bitcoin is pretty much determined. We need an internet infrastructure and communication/messaging infrastructure that can be maintained and survive in the event of a war or civilization collapse
It's really cool what you are doing, especially identifying how important the infrastructure in the context of standing-up against totalitarianism. Keep up the good work! |
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mtomcdev and tzpardi, can I ask your opinions, is the infinitely scalable micro payment processing, to manage millions of transactions the main issue of IoT at this stage? My understanding was there are more pressing issues such as lack of standards, provisioning, security, etc.
If you ask my opinion, the lack of security, fragmented security policies and tools, and lack of standards are probably the most pressing issues in Internet of Things. To give an example about what we hear from IoT companies and what IoT companies ask, these requirements came up in a W3C web of things user interest group discussion earlier today: - device properties with hierarchically structured values
- device properties whose values are other devices
- device properties whose values are high data demand streams, e.g. ECG data or video stream
- devices with circular dependencies on other devices
- efficient message encodings for data and models
- to handle memory and processing constraints
- provisioning and bootstrapping of security
- secure and robust software updates
- manage firewalls and NAT
- lack of interoperability across CoAP servers
- support for non REST protocols
- support for sleepy devices
- high availability and clustering, to manage devices across multiple servers
We, open source developers could make difference and work on the above items. The micro payment solution is an interesting topic, but I wouldn't think the processing millions of transactions per second or even per minute in real time is a requirement for any IoT systems currently. Thanks for the info. albert_mt was quite right above in saying that IoT is more complicated than people think. |
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Bumping this thread to note that at least the Vericoin devs are still around their coin which is a quite rare and valuable attribute in the scam driven digital currency universe.
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Interesting to see the back and forth of the market around the DJIA 17,500. That is Armstrong's latest resistance and weekly closing threshold in relation with a possible drop and then slingshot move.
On an other note, I have been reading David Stockman's blogs and pieces. It is quite a lot similarities between Armstrong and Stockman. Though Armstrong's latest posts on the FED clarifies what he thinks about the FED. It seems he is right again: not the FED is the problem but the US Congress that delegates the responsibility of its infinite money spending by allocating the money creation to the FED. Thus we blame the FED while the US congress (or in fact the UK government in the case of UK) is the source of the problem.
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what is the story with Iota? they will be definitely very strong competitors maybe leaders in IoT.
No, they won't - except they will be leader in collecting money and they will be the IoT leading platform of Bitcointalk forum. The Iota crew is a very, very talented bunch of people. Iota will develop an interesting piece of software. Their unique selling point (USP) is processing millions of micro payments with an infinitely scalable system (their Tangle innovation), but that is not the most important IoT business requirement at this stage. It won't be even in 10 years time an issue IMHO. The talented Iota devs are good at software, but they never worked on any IoT projects. Therefore, they don't know what the industry is. They have heard that there will be 50 billions of internet of things devices by 2020. And then they made the calculation, that for the 50 billions of devices need millions of micro payments per seconds. Like the billions of devices would be a homogeneous system - which is obviously not. As I said earlier here is what will happen: Iota will collect $500k perhaps $1 million, then the investors start selling the coin to each other for a year or so, and then that will be the end of the story. mtomcdev and tzpardi, can I ask your opinions, is the infinitely scalable micro payment processing, to manage millions of transactions the main issue of IoT at this stage? My understanding was there are more pressing issues such as lack of standards, provisioning, security, etc. |
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The user group includes companies like Siemens, Alibaba, Oracle, Intel, Google, Nokia, Panasonic and many other big and influential businesses.
Plus Toshiba, Vodafone, Opera, Orange, ERICSSON, Nippon, Fujitsu and many other companies as I can see it in the member list at https://www.w3.org/2000/09/dbwg/details?group=75874&public=1Good luck guys! It would be absolutely amazing to start communicating with such audience! |
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I personally think that the trade function can wait until after the presentation, it is much less important.
I agree. The priority is to get the word out about the technology. Such exposure and once the network get started will take care the share price. |
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...
TPTB
I read about some kind of Ponzi scheme going on in The Philippines called something like "MMM", and spread around by YouTube videos (weird, I know).
Is there something like this going on over there? You're the best one I know offhand to report on this.
BTC was at $360 (up almost 10% just today). Maybe time to spend some...?
TPTB is probably wondering how could he get so wrong his prediction about the $100 Bitcoin price which according to him will follow the early summer $300 price. Instead of the price is $390.00. I have no idea how you people manage to ignore the details of my predictions and then go spouting off slander when I am not around to read it. Luckily I came back here to set the record straight. Hmmmm ... "you people" ... "spouting" ... behind your back, when you are not around. Can't you be civil when someone points out your mistakes? Your ego is so big there is no room left for some honesty to admit your mistakes. In this case when it would be enough to say: I am sorry, I was wrong about the BTC price with my shitty predictions and investment advices. After a 5 minutes lookup here are a few posts of yours from klee's thread
Everyone should have been short since $315 which is what I said first. And I should have stuck to that. Predicting the short-term moves is going to get you stopped out and you'll miss the entire decline.
We are clearly in a crash mode still for BTC. Yes it could rally back up to $325 near-term, but no later than Spring 2016 the price will go below $150 again.
I sold all BTC to fiat at $315. I have not repurchased.
Volatility is skyrocketing (see the dire MA blog posts linked below). Gold making its perhaps last lower high, because the crash below $1000. Consider this bounce for BTC as a last chance to head for the exits before all hell breaks loose. Sure maybe we make a nosebleed run for $300 again, but who wants to risk being long now?
Gold may rally up to $1188, so there is still a chance BTC can make one more moonshot to $300s before the inevitable decline...
So you may want to go long again BTC for another rally up to the long-term trend line at $325±10 before we go short again for the collapse down to double digits
With regards to the price of these weeks/months, you have clearly expected no higher price than $325 +-10 for Bitcoin and then according to you should come "the inevitable decline" to double digits, which decline according to you will be completed by spring 2016. Lets not be worry about that spring 2016 prediction, you might get it right or might not. What I am saying is, you were simply wrong as you categorically said there will be a decline to double digits following the early summer rally of $315. However, as we speak the current price is $475.00 on Bitstamp ... rather than "all hell breaks loose". I hope nobody has listened to your investment advices by shorting from $250 or selling at $250 when you were banging on everywhere on this forum how great your predictions are (at the time when you got right the $315 top). |
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...
TPTB
I read about some kind of Ponzi scheme going on in The Philippines called something like "MMM", and spread around by YouTube videos (weird, I know).
Is there something like this going on over there? You're the best one I know offhand to report on this.
BTC was at $360 (up almost 10% just today). Maybe time to spend some...?
TPTB is probably wondering how could he get so wrong his prediction about the $100 Bitcoin price which according to him will follow the early summer $300 price. Instead of the price is $390.00. |
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We have been working with heath care service providers at ZoVolt to roll out an IoT telemedicare system with installation options for both individuals and residential homes. The patient monitoring devices market worth $22.2 Billion by 2018 http://www.marketsandmarkets.com/PressReleases/patient-monitoring-devices.asp . In addition to the biomedical sensors, IoT camera devices and video streaming are important elements of remote patient monitoring solutions. We have been also working with security businesses to manage internet connected CCTV security devices. Video streaming is also essential for operating IoT CCTV camera devices. We will integrate the standardized, WoT integrated GadgetNet video streaming into our commercial solutions. I've designed already the SDP, RTP, RTCP, SCTP and DTLS modules for the streaming solution in C. The next step is to convert the C modules to NodeJs, create a JS binding and API for JavaScript developers. Yeah, there are lots of IoT video devices and it is a massive business opportunity. It's good to see GadgetNet covers that area. |
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I will check in the CoAP and MQTT protocol bindings in the next few days. I am also working on the STM32 and ATMEL ARM/AVR integration of GadgetNet. I will keep you updated about the progress in this thread.
Thanks for posting! Can you tell us more about what you do with Zovolt and how Zovolt plans to use Gadgetnet? Thanks for your time. Thank you for your interest in what we do. ZoVolt is a privately owned business. We completed our first round of funding 2 years ago to create a generic IoT software framework and design IoT enabled medical devices. We have more than 100 investors. Some of them are experienced technology angel investors and venture capitalist partners. All those details, including the list of our investors are available at the UK Companies House public register. I am a software developer being responsible for the technology development of ZoVolt Ltd. I can comment only from technology perspective. We believe at ZoVolt, the GadgetNet white paper outlines a viable alternative to the conventional IoT client/server paradigm. Mtomcdev mentioned above privacy, security, access control, micro-payments, interoperability, provisioning and device management are the main features GadgetNet aims to implement. Those features are key to any Internet of Things devices. Above all the secure access control, provisioning and device management features could be very valuable for Internet of Things businesses. It seems GadgetNet could solve many practical problems that Internet of Things businesses are facing. The GadgetNet technology can yield significant savings in the rigorous and complicated device certification process by providing an All-In-One solution. Once the development branches are stable ZoVolt will use the GadgetNet platform to certify, deploy and operate our medical and security devices. The ZoVolt team will continue donating software development to the GadgetNet branches. Our only condition in this collaboration was to make the GadgetNet platform open source once the system is stable and releasable. Very good to see real world businesses recognize the value of GadgetNet. Can I ask how the P2P video streaming will be used by businesses? The video streaming is an important part of the GadgetNet business plan, but you haven't mentioned it in your post. |
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