Soon we will see here and other threads the usual shilling nonsense: "the weak hands are selling, that's good" and "thanks for selling into my buy order" and "thanks for the cheap coins, so sweet" and the similar bollocks what are the prerequisite of any P&D.   

It is a massive Pump and Dump, nothing else. The Litecoin thing has exactly same real value as before, that value is precisely zero. The thing used by no real world applications whatsoever except by day traders in China, and I can assure you (even if you make millions in short term on day trading) that is a not a sustainable business model.
 

Did he go all in? Surely not. He is just one of the shills pumping the shit out from Litecoin.

Will you disclose how much you have collected from the IPO?

Really exciting stuff! I did some reading on the subject. This what Bram Cohen the inventor of BitTorrent thinks about peer to peer live streaming. I think it's worth listening him - his innovation has changed the world already and he has completely changed how people consume media and entertainment.

"This is new, and unique, and potentially world-changing”
http://bit.ly/1HQxZUa

"Most of the video that people consume today is still not on the Internet," said Cohen, adding that existing protocols aren’t set up to support big live events.
http://bit.ly/1KSaZEX

If the Gadget team can make it work I think we will have something really big here.

Devs, how is the DAC set-up progressing? Do you need any help in the UK with setting up one? Can you outline the final plan how VICR holders can claim the ownership in the DAC?

That's cool. I am sure the intention was to help out the devs and VICR owners by emphasizing in the public domain how this idea is completely infeasible.

Anyway, it's quite clear the altcoin market is gone and drying up quickly. There are a few new coins that pumped and dumped by reasonably powerful groups (I mean powerful in the context of this market), but the P&D trick can be pulled out from the hat less and less effectively by completing each of ongoing P&D. And what happens then when the P&D of new coins can't generate more money? This place will be deserted, and only coins with real added value will be here in a year time. Coins that don't depend on P&D and more importantly can add value to a business process or personal life. Just because a wallet is nice or does the POS more efficiently doesn't mean the coin will have value. If the coin isn't used for real world use cases then its value will be eventually zero.

Only coins and projects will have value that are used by real businesses and people.

Bitcoin will be obviously stay, because it is Bitcoin and it is relatively widely used already, and I believe coins/projects like Openbazaar or other decentralized markets, coins with strong social aspect like Doge, perhaps some fitness coins will be successful. And I think technology related coins/projects like Skycoin, Tilecoin and this GadgetNet can survive. I am betting on the technology coins. If they solve a business problem (and they do), if the technology provides businesses with savings and increased revenue (and it does) then businesses will see value in the underlying technology.
 

Yeah, that sites an interesting environment.

We hijacked this thread with Barabbas about the adult theme, but it is very good the dev reminded us that this project is lot more than the adult theme.

Internet of Things is already big, but no doubt it will be significantly bigger in a few years time than the 100 billion $ porn industry ever was. No wonder IBM entered into the IoT blockchain party with ADEPT. The real value of this project will be in the generic IoT blockchain, - which happened to be able to handle internet connected adult web-cams among other devices -, and in my opinion a generic IoT blockchain and ledger could create here a more valuable coin than any other coins (except Bitcoin and perhaps some other IoT coins and the decentralized market coins). That's why I started to support this project in the first place, not because the adult theme.

 

I am sorry but what is the confusing in the business plan that an established model performs daily 30 minutes live group show on Jizzmo.net for a 95% share and then she bugger off to do whatever she does somewhere else?

The model does it on Jizzmo as a daily show by bringing to here her paying viewers, because other platforms
a) simply don't support the live group show feature
b) don't pay out 95%

Regarding the operation cost, you are again assuming that there is no traffic and no revenue on the platform, but you are assuming that the large operation cost is there. Somehow it is a logical inconsistency. How can be large operating cost for a non working platform? I am not sure the boys here what kind of DAC will run, but people are running serious businesses with £10K per month operation cost in the UK  - a top accountant cost £500 per month. I think you are overstating the operational cost.
The main operation cost is the infrastructure which only scale when there is traffic consequently there is a revenue. And regardless what you think, my calculation is based on real leased server cost instead of your laptop cost. You can get 10TB traffic on 500 gbps bandwidth for US 300.00 per month - that's how I derived the US$ 3.00 cost for a US$ 500.00 streaming revenue.

And again, you don't even assume that in the Jizzmo platform can be advertisement revenue at all. All providers drive revenue from advertisement - but in your opinion no, Jizzmo can't.

OK Barabbas, I need to go to do something else, and later I will do more research on this subject. As always it was a pleasure to talk to you :-))))  

Is CryptoVPN your business or are you an affiliate? It seems a nice service. Are the servers reliable there? We always need VPN and always searching for a better one.

That's quite true, that could be a very important factor in the selling of VCR.

Also, I think one of the assumptions in the plan is that most of the models are split their presence between platforms.
Why one can't assume that the models would earn only 20% revenue on Jizzmo and the remaining 80% on the current platform? We debate here about whether the models jump ship or not. But why would they need to jump, they just diversify the activity. It seems to me, my research in the naked woman world indicates that models work for not only one platform and studio. Models even advertise on MyfreeCams that they do some private shows on Skype. Their contract allows that and I assume in this industry they can do this (especially in East Europe there is not such thing as contract that prevents them to broadcast somewhere else). Perhaps they could do the group shows, a portion of their activity on Jizzmo while they work for others as well.
 

I said several times in my previous posts that your concern about the viability of recruiting top models very valid and the team should think about that issue. However, I think your numbers are incorrect.

Regarding the 95% is chimeric, actually it is not. I did the research on the subject and I think the calculation of the team is correct. As the developers said, the main cost in the GadgetNet's business plan regarding to live video streaming is the server and internet traffic. Please use the sample of a 30 minutes long, 50 viewers group show that generates US$ 500 revenue. You will find in the numbers that the infrastructure cost of that video streaming session at 4 Mbit per second HD streaming (Netflix qualify 4 Mbit/s as HD) is less than US$ 3.00. That particular session generates around 45~50 GB traffic and the infrastructure cost is on a leased server is less than US$ 3.00, less than 1% of the revenue. Can they pay out the 95%. Obviously they can. A community member who broadcasts the show can make on such a show US$ 22.00. If the DAC broadcast the live show then the DAC can make that money.
Moreover - and I think you completely ignore this revenue source -, the developers posted here that an important factor in their monetization plan is the advertisement revenue. Does it make sense to expect revenue from advertisement? I think it does. Amazon invested 1 Billion USD in twitch.tv last year, and the justification for the investment was the advertisement revenue opportunities from game streaming. The 100 Billions USD strong adult market advertisement is similarly a serious revenue source opportunity. I think  the advertisement revenue should be taken into account when you validate the business plan.

Regarding the random Romanian guy, for some reason, I am not sure why, the base of your calculation is not the publicly available data which indicate that big sites pay out an average 50% (40,000 models worldwide receive an average 50% of their revenue), but no, you don't use this figure for the calculation. You use the figure of a random Romanian guy's forum based offer which was advertised here. You use the 70% figure of the random Romanian guy instead of using the 50% figure which is the base of the assumptions of the business plan. If you would use the 50% (which is the average percentage 40,000 models worldwide receive) you would get the figure what the developers talk about and I posted previously by referring to the 10k vs 19k sample.

There are many very good points in Barabbas post, and a few inaccurate like the one regarding to the main element of the business plan, the pay out amount. If I understood correctly 50% vs 95% based on the current 10k revenue is not 12K new revenue, but it is 19K new revenue - an increase by 9K and not 2K. Would the models jump for an extra 9K which is the basic assumption of the business plan? It remain to be seen. Would a gamer jump from twithc.tv for an increased 19k vs 10k revenue? They might ... or might not, we will see.

The developers say the models and twitch.tv gamers are very unhappy with the providers such as LiveJasmin and Amazon respectively. I did some research, and based on the complaining comments/blogs of gamers it seems to me that's a quite correct description of how the gamers feel about Amazon. The average twitch.tv gamer must work a year until get a partnership status at twitch.tv and many gamers are pissed off with Amazon. Would they jump the ship? Some of them perhaps would, but of course most of them not. If some would jump to GadgetNet would that generate advertisement revenue from game studios? If there are viewers then probably yes it would.

I would suggest don't get ahead of ourselves here by talking about millions of dollars of revenues and acquisition. Do step by step the development. Sign up every week 1-2 models and gamers and most importantly do something better than others do, like the group show feature. Sometimes even one feature could win the customers over. In one year time you could have 100-200 hundreds models and gamers. Try to sign a deal with smaller game studios instead of big ones. The small ones can't afford the advertising prices of Amazon, but they desperate to build a gaming community, and this platform ideal for that.

As the developers said they need to start at somewhere to expand the IoT theme and the device management on the blockchain, which is the ultimate goal (if I understood correctly). IBM entered into this market for a reason, this is a very exciting technology and I think it is worth to try developing the tech on the backbone of popular themes like the adult and gaming.

VRC price is going down. I think people are getting disillusioned from VRC (too), and quite understandably why. Very little happened to the coin in the last 12 months terms of development and nothing happened at all which matters and could increase the price.

@skycoin

Sine I know you are interested in hardware level security, I just wanted to point out this

http://www.atmel.com/products/microcontrollers/ARM/sama5.aspx?tab=overview

These type of MCUs were rare even last year, but fortunately more and more MCUs on the market with the proper security what this chip offer as well.
 
So called security experts are worried about software vulnerabilities, but as you quite rightly pointed out here several times in this thread, the most dangerous security vulnerabilities come from hardware hacks, and the only solution for that is Trust Zone. The secure boot, securing and locking the RAM is the only solution against attack on the hardware.

Apart from Trust Zone this MCU comes with built in crypto, but not only symmetric, also asymmetric crypty chip - the perfect candidate for a superduper safe wallet.

Lately I support the GadgetCoin guys at https://bitcointalk.org/index.php?topic=854280.0

They are rolling out a device based on this secure chip. Why don't you team up with them and create a super safe wallet based on this chip and utilizing the ARM Trust Zone infrastructure?

If I understood correctly, you are implying that the crypto community would bring the Jizzmo site down. If that's the case then this is one of the very few occasions when I will have to disagree with you.

I don't think the crypto community would hurt this project. Quite the opposite - since Jizzmo will accept Bitcoin (as well as FIAT) and could bring new customers to Bitcoin, I think this project eventually will be supported by the Bitcoin community, quite understandably so.
This project is not a Bitcoin nor Litecoin clone, this is a completely new blockchain and development, and I can't see such attacks what we witnessed in the case of Vericoin vs Blackcoin war last year if that's your concern at all, and I am not sure why a particular attack - which is exclusive to this site since hacking and stealing are common issues to all operators - would come to this project.



And I think you are certainly not correct on this one.

You are assuming the Livejasmin, xhamster, Porn.com and MyFreeCam operation are a bunch of nuts, who would "set you up" by sign up to Jizzmo.net and then putting a child pornography or two sexually active dogs front of the camera to broadcast the malicious content on Jizzmo, and then they will be "calling the authorities". You think that's how well established corporates - that generate billions of dollars of revenue - operates.

Based on my experience in technology and business I can't see that's happening and here is why

1) In business well paid executives don't break the law like that. They understand very well that next day the action would be leaked by not one, but multiple unhappy employees and they would have to go to jail. Even the owner of LiveJasmin who is under tax investigation would never authorize such obvious cluster fuck up - he is simply smarter than that, that's why he is a billionaire.

2) Those businesses understand very well whom they would be dealing with by attacking with such malicious actions the crypto community. In corporate world dealing with hackers and digital crime is a daily issue. Livejasmin, xhamster, Porn.com and MyFreeCam receive every day a hacking protection blackmail from Russian and other East-European groups. The last thing the porn corporates would want to open a new front with the most knowledgeable computer users on Earth. It just doesn't make sense economically for them. What you think would happen if Livejasmin, xhamster, Porn.com and MyFreeCam would start discrediting a crypto project the nasty way you suggest? DDOS in a big time in first step and second step would come the even bigger DDOS just to mention the most primitive form of counter attacks to a malicious action. Are you seriously suggesting the corporates would get into such war with the crypto community? I can't see that's happening.
This community seems forming. It seems to me from the posts there are users from China, Hungary, Romania, Russia, etc. I think the corporate executives are lot smarter than get into war with expert users from those geographic locations (it is not a negative comment on those countries, all I am saying a DDOS from those countries is standard procedure when you need to defend yourself) .

As someone said above, the big corporates common strategy is to let the smalls try to make living and when the smalls have proven their technology and have enough customers then they get them - via acquisition (the majority of the start-ups fail and don't hurt the big corporates anyway). I can see acquisitions every day in the corporate world, but I have never heard such shady discrediting attack, which was authorized by the corporate executives and what you suggest.

Technically speaking, when you buy a fucking Google share or Japanese fucking yen then there is no discount whatever amount you buy, so I am not sure why the discount is so important here. On the other hand, if chocobo didn't know about the discount then the equal opportunity argument is valid.

I suggest to continue the fucking discount code, then the community can move on and focus on the product development, which can give the discounted coin value in the first place.

Being a technology workforce myself for decades I can understand why you have undertaken that development task, and the PosT makes lots of sense from system stability, usability and security viewpoint. The problem in my opinion is that the reasoning for the need of changes is based on flawed logic. You build the feature assuming that the thing will be used at some stage. Using that logic you could build a Zombie reincarnation timing feature as well to prepare the coin for the Zombie revolution. I don't think people who believe in the the Zombie revolution are more nuts than we digital currency enthusiasts are (because this is obviously the craziest environment on Earth), so that Zombie world might happen as well and your coin will be prepared for that unfortunate Zombie event, which has the same probability than the masses adoption of Vericoin has.

You are a developer and obviously it is not your fault at all where the digital currency movement is heading, or precisely not heading because it seems it is not progressing anywhere, but you as a developer with such a good academic credentials, reputation for (mostly) the good reason and with a relatively active community, you could probably do something about moving things in the right direction.
 
All I try to say, try prioritize and spend your valuable time and energy on sensible tasks. Find a use case for your coin, partner up with some real world application/business that would have a reason to use your coin. Porn, gambling, casino, fitness, some point based reward system or anything that morally is acceptable for you and would find useful your coin within its business (possible by building a service on it, but of course you could build that service with your development resources).

Your community manager frequently talks about how Vericoin will overtake Bitcoin. Apart from the irrational aspect of that expectation, the main question is, overtake in what? Overtake on the path of being irrelevant? Even Bitcoin, after 5 years of struggle and millions of hours development and marketing man hours, used by a handful 100,000 users. It's just a ridiculous low number taking into account the incredible amount of work and media exposure around Bitcoin. With little steps, but step by step you could probably change that irrelevance for Vericoin by start working with real world businesses on something. What is that "something" is the question, but must be something out there in the real world.

Since I have inspired your nick :-))) please let me answer. It is not a scam, but it is very possible that the project goes nowhere and your money is gone in the sense of that you have no tangible ROI on your investment.

You have to see this as you have crowfunded a great project instead of you invested in a coin. Crowfund and support great techs and super talented developers is a noble thing, I think that's what we do here, and it is very common that the project of super talented developers isn't materialize.

@NoFudOnlyFacts
It seems to me this coin is not for day trading. If you can wait a few months until the models and broadcasters start paying network fees and buy your coin then that's fine, you could give a try. If you need a quick return and 1000% ROI then don't bother with this.


@Devs
On the note of model recruitment, Barabbas is quite right, that's the hard one. No models - no network fee paid. How you are going to address the model recruitment issue?