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Author Topic: [ANN] [GDGC] GadgetCoin | IoT | M2M |Smart Contracts on Hardware  (Read 83707 times)
altcoinUK
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July 06, 2015, 09:29:39 PM
 #341

We received quite a few messages and questions regarding to the physical company and I just want to clarify

Our plan is to implement the structure which was posted in this thread earlier. We have been organizing the set-up, but we are still waiting further clarification to be certain that such structure is legal in the US and the business is not breach of US securities laws. Therefore, we can't guaranty and don't promise that the two tier structure will be implemented in the described way or it can go ahead at all. We are trying to organize a DAC, but we hear as many opinions as many lawyers we ask, and if such DAC is illegal in the US then we will have to organize it somewhere else, for example in the UK or Ireland.

We are not offering shares in a physical company with the VICR contract. If the structure can be implemented legally then the VICR owners will be able to claim their ownership in the physical company if they wish to do so, but we can't guaranty and promise anything regarding to this - with those posts we only informed the community what we are up to regarding to this matter, and that we try our best to create a community driven DAC.





No, it won't be legal in the US -nor many other countries-. You can  create a coin and sell or distribute it as you like -at least until regulation in the US is established-. But a company, LLC or any other, is a different matter and subject to specific rules. In your case, you could create the company and own it yourselves, as an LLC, but you cannot distribute shares or ownership the way you intend to. And you do know that a US-registered company requires, by law, to file quarterly statements, I assume.

Furthermore, your whole business plan -as I understand it, since it is "explained" in such a convoluted way-, needs to be seriously restructured under very different an specific parameters, including, as paramount, a system (only "boots on the ground" will do) to filter any and all illegal activity BEFORE it happens. It cannot be done with tech alone. You would be victim of anyone in crypto simply by broadcasting a minor and calling the authorities. Your whole operation would be closed and you'll be liable for criminal and financial damages.

Finally, you hope to sign "top models" that are making a mint in FIAT to be paid in crypto, "tokens", whatever? Good luck with that.

Thank you for pointing out the issues with the securities offering. As we said we are not offering shares nor securities, the VICR contract owners could claim if they wish to do so the shares in the physical LLC. Would be such road to the ownership the breach of US securities laws? Some lawyers say it is, others say it is not. If it is not possible in the US, then we can implement the DAC in the UK.

We fully agree that the business plan is far from complete and we need experienced business professionals on board. We try our best to recruit them. We have just started this process, we are at the beginning of the road and lets hope experienced professionals will see potential in our technology and help us to take the network to the next level.

I agree about the issue of filtering. All sites have this issue. The main purpose of the trusted node concept in GadgetNet and the centralization to stop illegal content and to comply with laws and regulations. In a fully decentralized P2P streaming such filtering wouldn't be possible. We try to build a community here and we hope the community members will help us to monitor the content, especially that such content is close to a geek's heart.

Please note, the models will get paid in FAIT if they opt that cash out method. The partner site www.jizzmo.net will accept both FIAT and Bitcoin. The underlying crypto technology will be completely transparent to models and viewers.


So you can build the filtering officers unit by offering a porn-prison guard position to interested community members: they can watch the most pretty naked females of Earth all day for free -  all they have to do is reporting the problems.  Since the average crypto user never had sex with real woman, you wouldn't have shortage in filtering officers. Everyone would gain from the partnership - especially the 24/7 porn watcher officers.

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July 06, 2015, 09:38:56 PM
 #342

I am setting up a studio and hiring adult web camera models. If you refer a model I pay

5 BTC

referral fee. I asked the devs and according to them we can set up a smart contract to pay out the referral fee from my studio's earnings.
My studio is in Budapest, Hungary and primarily we are interested in East European models, preferably from Hungary, Romania, Ukraine and Slovakia. We provide apartment, laptop, high quality HD camera, working visa for the Ukrainians and up to 70% share from their gross earnings.

Please send me message if you know someone and are interested working with my studio.
Netzer
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July 06, 2015, 09:42:03 PM
 #343

We received quite a few messages and questions regarding to the physical company and I just want to clarify

Our plan is to implement the structure which was posted in this thread earlier. We have been organizing the set-up, but we are still waiting further clarification to be certain that such structure is legal in the US and the business is not breach of US securities laws. Therefore, we can't guaranty and don't promise that the two tier structure will be implemented in the described way or it can go ahead at all. We are trying to organize a DAC, but we hear as many opinions as many lawyers we ask, and if such DAC is illegal in the US then we will have to organize it somewhere else, for example in the UK or Ireland.

We are not offering shares in a physical company with the VICR contract. If the structure can be implemented legally then the VICR owners will be able to claim their ownership in the physical company if they wish to do so, but we can't guaranty and promise anything regarding to this - with those posts we only informed the community what we are up to regarding to this matter, and that we try our best to create a community driven DAC.





No, it won't be legal in the US -nor many other countries-. You can  create a coin and sell or distribute it as you like -at least until regulation in the US is established-. But a company, LLC or any other, is a different matter and subject to specific rules. In your case, you could create the company and own it yourselves, as an LLC, but you cannot distribute shares or ownership the way you intend to. And you do know that a US-registered company requires, by law, to file quarterly statements, I assume.

Furthermore, your whole business plan -as I understand it, since it is "explained" in such a convoluted way-, needs to be seriously restructured under very different an specific parameters, including, as paramount, a system (only "boots on the ground" will do) to filter any and all illegal activity BEFORE it happens. It cannot be done with tech alone. You would be victim of anyone in crypto simply by broadcasting a minor and calling the authorities. Your whole operation would be closed and you'll be liable for criminal and financial damages.

Finally, you hope to sign "top models" that are making a mint in FIAT to be paid in crypto, "tokens", whatever? Good luck with that.

Thank you for pointing out the issues with the securities offering. As we said we are not offering shares nor securities, the VICR contract owners could claim if they wish to do so the shares in the physical LLC. Would be such road to the ownership the breach of US securities laws? Some lawyers say it is, others say it is not. If it is not possible in the US, then we can implement the DAC in the UK.

We fully agree that the business plan is far from complete and we need experienced business professionals on board. We try our best to recruit them. We have just started this process, we are at the beginning of the road and lets hope experienced professionals will see potential in our technology and help us to take the network to the next level.

I agree about the issue of filtering. All sites have this issue. The main purpose of the trusted node concept in GadgetNet and the centralization to stop illegal content and to comply with laws and regulations. In a fully decentralized P2P streaming such filtering wouldn't be possible. We try to build a community here and we hope the community members will help us to monitor the content, especially that such content is close to a geek's heart.

Please note, the models will get paid in FAIT if they opt that cash out method. The partner site www.jizzmo.net will accept both FIAT and Bitcoin. The underlying crypto technology will be completely transparent to models and viewers.


So you can build the filtering officers unit by offering a porn-prison guard position to interested community members: they can watch the most pretty naked females of Earth all day for free -  all they have to do is reporting the problems.  Since the average crypto user never had sex with real woman, you wouldn't have shortage in filtering officers. Everyone would gain from the partnership - especially the 24/7 porn watcher officers.



Sign me up for content filter officer! I can watch porn all day Grin
barabbas
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July 06, 2015, 09:53:49 PM
 #344

I am setting up a studio and hiring adult web camera models. If you refer a model I pay

5 BTC

referral fee. I asked the devs and according to them we can set up a smart contract to pay out the referral fee from my studio's earnings.
My studio is in Budapest, Hungary and primarily we are interested in East European models, preferably from Hungary, Romania, Ukraine and Slovakia. We provide apartment, laptop, high quality HD camera, working visa for the Ukrainians and up to 70% share from their gross earnings.

Please send me message if you know someone and are interested working with my studio.


How is it going? I would have expected this to have created already and avalanche of offers...

It is hard to try to be nice. Very, very hard...
Netzer
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July 06, 2015, 10:10:57 PM
 #345

I am setting up a studio and hiring adult web camera models. If you refer a model I pay

5 BTC

referral fee. I asked the devs and according to them we can set up a smart contract to pay out the referral fee from my studio's earnings.
My studio is in Budapest, Hungary and primarily we are interested in East European models, preferably from Hungary, Romania, Ukraine and Slovakia. We provide apartment, laptop, high quality HD camera, working visa for the Ukrainians and up to 70% share from their gross earnings.

Please send me message if you know someone and are interested working with my studio.


How is it going? I would have expected this to have created already and avalanche of offers...

It is hard to try to be nice. Very, very hard...

No offers here in this forum so far, but I spoke to jasmin models and the ladies like the site. I figured out, the ladies don't even have to leave jasmin. we can give them a second laptop for jizzmo.net and they bring the paying customers here to get 70-80%. my studio cut is only 10%.
NoFudOnlyFacts
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July 07, 2015, 10:00:23 AM
 #346

how much is the smallest VICR contract, is it 0.1 BTC? how can I sell the coin if I buy VICR? no sell, no profit.

altcoinUK
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July 07, 2015, 10:33:41 AM
 #347

@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?


mtomcdev
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July 07, 2015, 11:37:06 AM
 #348

@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?



Both of you are absolutely correct that the model recruitment, apart from the site traffic, is the most difficult aspect of a new adult site, but please note we are software developers and we are not addressing directly the model recruitment issue. We have created a platform and the studios who use the platform will recruit the models as well as we hope independent models will find the platform useful. For instance, we have a live private group show feature: top models can advertise for their twitter followers the time and date of the live private group show on the jizzmo.net site, and then perform the show for a 95% cash out share. Will that feature be popular? We don't know, but common sense dictates it could be, this feature is not supported by other service providers, and after all the 40% more revenue could be an incentive for models to use our platform. We are already receiving inquiries at jizzmo.net regarding to this feature.

Someone read our whitepaper a few months ago and asked, can internet connected adult web-cams use our IoT platform and device micropayments to lower their cost and pay out 90-95% percent for the models/sudios? We thought it is a good idea and created the web application for this use case.  

All due respect, I don't understand what barabbas' concern is regarding to the token. All sites are built on the token concept. Livejasmin has token, MyFreecams has token. The token is only medium of exchange for application specific transactions for all service providers and our token happened to be in the blockchain. Why is that an issue? The models get FIAT from jizzmo.net as well so I don't understand why the token is a problem. I also don't understand why barabbas think the filtering can be managed by others, but it is an impossible task for us. Filtering is the combination of administrative procedures such as ID verification, model and studio due diligence, and real time monitoring. I am not sure why barabbas think our platform and community unable to manage those tasks?

Regarding to our business plan, please note the adult content is only one use case. Our platform is capable to manage other uses cases as well. We are rolling out other services such as the streemo.net generic live video streaming platform. Please note the long term plan is to focus on ledgers for devices and IoT micropayments. This is only the start, our start is connected to the popular adult theme, but we have to start somewhere.

This picture explains what are the other use cases for live P2P video streaming.
mtomcdev
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July 07, 2015, 11:37:32 AM
 #349

meandme
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July 07, 2015, 12:36:29 PM
 #350

what is  Class code meaning?
someone told me if i use his Class code to by the VICR100,i will get 1000 ore, 100 more than not use his Class code ?
Is it true?

and today  i see on the site it only have 10 hours contracts,  if i use especial Class Code , i still could get more ore ? 10 more ore than 90  ?
mtomcdev
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July 07, 2015, 01:08:12 PM
 #351

what is  Class code meaning?
someone told me if i use his Class code to by the VICR100,i will get 1000 ore, 100 more than not use his Class code ?
Is it true?

and today  i see on the site it only have 10 hours contracts,  if i use especial Class Code , i still could get more ore ? 10 more ore than 90  ?

The 1000 ores classcode was in place until yesterday, so yes, the information was correct then. Now it's not available and there is no additional ores for that particular classcode any more.

The 10 hours VICR, which was requested by most of interested users has been rolled out and all VICR receives 90 ores equally.

If you wish to get more than 10 hours, you just need to increase the quantity at the buy contract screen.

NoFudOnlyFacts
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July 07, 2015, 02:32:38 PM
 #352

@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?



Both of you are absolutely correct that the model recruitment, apart from the site traffic, is the most difficult aspect of a new adult site, but please note we are software developers and we are not addressing directly the model recruitment issue. We have created a platform and the studios who use the platform will recruit the models as well as we hope independent models will find the platform useful. For instance, we have a live private group show feature: top models can advertise for their twitter followers the time and date of the live private group show on the jizzmo.net site, and then perform the show for a 95% cash out share. Will that feature be popular? We don't know, but common sense dictates it could be, this feature is not supported by other service providers, and after all the 40% more revenue could be an incentive for models to use our platform. We are already receiving inquiries at jizzmo.net regarding to this feature.

Someone read our whitepaper a few months ago and asked, can internet connected adult web-cams use our IoT platform and device micropayments to lower their cost and pay out 90-95% percent for the models/sudios? We thought it is a good idea and created the web application for this use case.  

All due respect, I don't understand what barabbas' concern is regarding to the token. All sites are built on the token concept. Livejasmin has token, MyFreecams has token. The token is only medium of exchange for application specific transactions for all service providers and our token happened to be in the blockchain. Why is that an issue? The models get FIAT from jizzmo.net as well so I don't understand why the token is a problem. I also don't understand why barabbas think the filtering can be managed by others, but it is an impossible task for us. Filtering is the combination of administrative procedures such as ID verification, model and studio due diligence, and real time monitoring. I am not sure why barabbas think our platform and community unable to manage those tasks?

Regarding to our business plan, please note the adult content is only one use case. Our platform is capable to manage other uses cases as well. We are rolling out other services such as the streemo.net generic live video streaming platform. Please note the long term plan is to focus on ledgers for devices and IoT micropayments. This is only the start, our start is connected to the popular adult theme, but we have to start somewhere.

This picture explains what are the other use cases for live P2P video streaming.


LULZ ... do the opposite what barabbas would do!!!!

if barabbas says it's a good idea stop it now!!! if he says it's a bad idea go for it!!!!

barabbas supported the Paycoin scam and he thought iconicexpert coin is a good idea, do the opposite what he does!!!!!!!  Wink

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July 07, 2015, 07:24:31 PM
 #353

what is  Class code meaning?
someone told me if i use his Class code to by the VICR100,i will get 1000 ore, 100 more than not use his Class code ?
Is it true?

and today  i see on the site it only have 10 hours contracts,  if i use especial Class Code , i still could get more ore ? 10 more ore than 90  ?

The 1000 ores classcode was in place until yesterday, so yes, the information was correct then. Now it's not available and there is no additional ores for that particular classcode any more.

The 10 hours VICR, which was requested by most of interested users has been rolled out and all VICR receives 90 ores equally.

If you wish to get more than 10 hours, you just need to increase the quantity at the buy contract screen.



Wait what there was a discount code?
mtomcdev
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July 07, 2015, 07:57:06 PM
 #354

what is  Class code meaning?
someone told me if i use his Class code to by the VICR100,i will get 1000 ore, 100 more than not use his Class code ?
Is it true?

and today  i see on the site it only have 10 hours contracts,  if i use especial Class Code , i still could get more ore ? 10 more ore than 90  ?

The 1000 ores classcode was in place until yesterday, so yes, the information was correct then. Now it's not available and there is no additional ores for that particular classcode any more.

The 10 hours VICR, which was requested by most of interested users has been rolled out and all VICR receives 90 ores equally.

If you wish to get more than 10 hours, you just need to increase the quantity at the buy contract screen.



Wait what there was a discount code?

Yes, it was a discount code, but it was terminated yesterday. If you bought 100 hours VICR without applying the classcode which entitled you to receive the +100 ores, then that is not an issue, because all 100 hours contracts receive the extra 100 ores. It's already processed, if you have an 100 hours contract you should have received the extra 100 ores. If you have a contract and you haven't received the extra 100 ores yet then please let us know in a PM and we will look into it. As I said, all 100 hours contracts are entitled to the total 1000 ores deposit.

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July 07, 2015, 09:02:08 PM
 #355

what is  Class code meaning?
someone told me if i use his Class code to by the VICR100,i will get 1000 ore, 100 more than not use his Class code ?
Is it true?

and today  i see on the site it only have 10 hours contracts,  if i use especial Class Code , i still could get more ore ? 10 more ore than 90  ?

The 1000 ores classcode was in place until yesterday, so yes, the information was correct then. Now it's not available and there is no additional ores for that particular classcode any more.

The 10 hours VICR, which was requested by most of interested users has been rolled out and all VICR receives 90 ores equally.

If you wish to get more than 10 hours, you just need to increase the quantity at the buy contract screen.



Wait what there was a discount code?

Yes, it was a discount code, but it was terminated yesterday. If you bought 100 hours VICR without applying the classcode which entitled you to receive the +100 ores, then that is not an issue, because all 100 hours contracts receive the extra 100 ores. It's already processed, if you have an 100 hours contract you should have received the extra 100 ores. If you have a contract and you haven't received the extra 100 ores yet then please let us know in a PM and we will look into it. As I said, all 100 hours contracts are entitled to the total 1000 ores deposit.



I didn't buy yet it would of been nice to know about it would of been a reason to buy sooner. Really should of been more public I have read nearly everything you have posted.
mtomcdev
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July 07, 2015, 09:17:09 PM
 #356


I didn't buy yet it would of been nice to know about it would of been a reason to buy sooner. Really should of been more public I have read nearly everything you have posted.

I thought you have heard about that like other users knew the existence of the classcode, but this cannot be an excuse for us. You are absolutely right we should communicate this better.

I am very sorry for not communicating that classcode clear and we will try to handle the communication better in the future.
albert_mt
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July 07, 2015, 09:24:35 PM
 #357


I didn't buy yet it would of been nice to know about it would of been a reason to buy sooner. Really should of been more public I have read nearly everything you have posted.

I thought you have heard about that like other users knew the existence of the classcode, but this cannot be an excuse for us. You are absolutely right we should communicate this better.

I am very sorry for not communicating that classcode clear and we will try to handle the communication better in the future.

no worries mate. supporters like myself who bought VICR bought it not because the 100 ores discount. i don't think it matters 900 or 1000 if someone really like the coin.
 
chocobo
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July 07, 2015, 09:50:07 PM
 #358


I didn't buy yet it would of been nice to know about it would of been a reason to buy sooner. Really should of been more public I have read nearly everything you have posted.

I thought you have heard about that like other users knew the existence of the classcode, but this cannot be an excuse for us. You are absolutely right we should communicate this better.

I am very sorry for not communicating that classcode clear and we will try to handle the communication better in the future.

Is there a slack or something? Where are they hearing about it?
chocobo
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July 07, 2015, 09:52:11 PM
 #359


I didn't buy yet it would of been nice to know about it would of been a reason to buy sooner. Really should of been more public I have read nearly everything you have posted.

I thought you have heard about that like other users knew the existence of the classcode, but this cannot be an excuse for us. You are absolutely right we should communicate this better.

I am very sorry for not communicating that classcode clear and we will try to handle the communication better in the future.

no worries mate. supporters like myself who bought VICR bought it not because the 100 ores discount. i don't think it matters 900 or 1000 if someone really like the coin.
 

That is a stupid justification and easy for you to say since you are on the 1000 side of things. Just because I took longer to ask questions and make sure I understand I am not a supporter at your level?
Odd Thomas
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July 07, 2015, 10:31:48 PM
 #360


I didn't buy yet it would of been nice to know about it would of been a reason to buy sooner. Really should of been more public I have read nearly everything you have posted.

I thought you have heard about that like other users knew the existence of the classcode, but this cannot be an excuse for us. You are absolutely right we should communicate this better.

I am very sorry for not communicating that classcode clear and we will try to handle the communication better in the future.

no worries mate. supporters like myself who bought VICR bought it not because the 100 ores discount. i don't think it matters 900 or 1000 if someone really like the coin.
 

That is a stupid justification and easy for you to say since you are on the 1000 side of things. Just because I took longer to ask questions and make sure I understand I am not a supporter at your level?

That's quite a leap to infer that from any of the words above yours. You should take a deep breath.
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