[ANN] [GDGC] GadgetCoin | IoT | M2M |Smart Contracts on Hardware

[mtomcdev]

In the VIDC100HOURS Terms and Conditions ,i have somethings not clear.
1, when i buy VIDC100HOURS ,i get 900 ores, and this 900 ores could forge into GadgetCoin.
After I forge into GDC, I still have the VIDC100HOURS contracts? Am i still the Contract owner?
And still get the GadgetTokens? As below says:
   vi. Allocating the daily commission pool (DCP) to the VIDC100HOURS contracts equally.  For example, if daily commission pool (DCP) is 1,000 GadgetTokens and there are 100 existing VIDC100HOURS contracts on the Network, then each VIDC100HOURS contract balance will be increased by 10 GadgetToken.
    vii. Paying out the commission to the Contract Owner. For example, if each VIDC100HOURS contract receives 10 GadgetToken and the Contract Owner owns 5 VIDC100HOURS contracts then the  Contract Owner receives 50 GadgetToken.
2, Buying VIDC100HOURS get profits from the GDC price rise, or the daily GadgetToken back ?
3,  as it says
 ix. Calculating the total number of daily base of the commission per each VIDC100HOURS contract.  Once the total number of daily base for the commission reaches 100 hours then the contract is marked as completed and will be terminated by the Network.
As times goes by, all the VIDC100HOURS will be marked completed . And there will be no VIDC100HOURS holder.  what is your plan after that time.?

waiting for you·

Yes, of course you have the contract until the 5% commission of 100 Hours streaming for a minimum of US$ 900.00 is completed. The system pays off the 5% based on the Contract ID, and therefore you must have the contract. The 900 GDC is only the medium of exchange to facilitate a transaction between the models' smart contracts and VICR smart contracts. I know it sounds complicated, but implementation wise it is a relatively simple smart contract.  

The reason the contract was complicated with the forging is because this way every steps of the process are traceable, auditable and verifiable. The models/broadcasters must buy GDC in order to cash out - otherwise they simply unable to get their cash and since only VICR contracts have GDC (or even if others would have GDC the VICR contracts are the first in the queue of selling GDC to the broadcasters) with this mechanism we can address traceability and audit requirements.

Also, combining the contract with forging allows speculative manoeuvres with the contract. For example, as we have explained already, if you expect a higher price than US$ 1.00 then you can pause the execution of the contract, wait until the GDC price reaches our 6 months target which is US$ 5.00 and then start selling the GDC to the models. In this case, let say if the price is US$ 5.00 you will get the US$ 900.00 for the contract by selling only 180 GDC, and the remaining 720 GDC you can sell for the price of US$ 3,600 permit the price is US$ 5.00.

Please let us know if you have any questions.

So if I don't pause the execution of VIDC100HOURS, my GDCs will be automatic sold out partly everyday ?
GadgetToken could be got every day?  this is no GadgetToken either I pause the contracts or not ?

Yes, that's correct, pausing is optional and if yo don't pause the contract then part of your GDC holding will be sold to the models/broadcasters every day (once the models are cashing out) until the 100 Hours is completed. One of our angel investors asked this option as he speculates for a higher than US 1.00 GDC price.

GadgetToken is an entirely different entity, it is the token purchased by the video viewer customers, and yes, it can be purchased everyday. You can't do anything with GadgetToken except pay for live video shows or later when the implementations and use cases expand pay for all kind of services on the GadgetNet network. GadgetToken is an internal token to convert the FIAT and BTC of paying customers into an entity that is manageable by the smart contracts. It is always pegged to US$ 1.00 based on a mechanism of the Bitshares pegging concept. The paying customers normally know nothing about digital currencies, they just want to watch some live adult or gaming content and they pay for the service buy buying GadgetTokens for BTC or FIAT.

[meandme]

In the VIDC100HOURS Terms and Conditions ,i have somethings not clear.
1, when i buy VIDC100HOURS ,i get 900 ores, and this 900 ores could forge into GadgetCoin.
After I forge into GDC, I still have the VIDC100HOURS contracts? Am i still the Contract owner?
And still get the GadgetTokens? As below says:
   vi. Allocating the daily commission pool (DCP) to the VIDC100HOURS contracts equally.  For example, if daily commission pool (DCP) is 1,000 GadgetTokens and there are 100 existing VIDC100HOURS contracts on the Network, then each VIDC100HOURS contract balance will be increased by 10 GadgetToken.
    vii. Paying out the commission to the Contract Owner. For example, if each VIDC100HOURS contract receives 10 GadgetToken and the Contract Owner owns 5 VIDC100HOURS contracts then the  Contract Owner receives 50 GadgetToken.
2, Buying VIDC100HOURS get profits from the GDC price rise, or the daily GadgetToken back ?
3,  as it says
 ix. Calculating the total number of daily base of the commission per each VIDC100HOURS contract.  Once the total number of daily base for the commission reaches 100 hours then the contract is marked as completed and will be terminated by the Network.
As times goes by, all the VIDC100HOURS will be marked completed . And there will be no VIDC100HOURS holder.  what is your plan after that time.?

waiting for you·

Yes, of course you have the contract until the 5% commission of 100 Hours streaming for a minimum of US$ 900.00 is completed. The system pays off the 5% based on the Contract ID, and therefore you must have the contract. The 900 GDC is only the medium of exchange to facilitate a transaction between the models' smart contracts and VICR smart contracts. I know it sounds complicated, but implementation wise it is a relatively simple smart contract.  

The reason the contract was complicated with the forging is because this way every steps of the process are traceable, auditable and verifiable. The models/broadcasters must buy GDC in order to cash out - otherwise they simply unable to get their cash and since only VICR contracts have GDC (or even if others would have GDC the VICR contracts are the first in the queue of selling GDC to the broadcasters) with this mechanism we can address traceability and audit requirements.

Also, combining the contract with forging allows speculative manoeuvres with the contract. For example, as we have explained already, if you expect a higher price than US$ 1.00 then you can pause the execution of the contract, wait until the GDC price reaches our 6 months target which is US$ 5.00 and then start selling the GDC to the models. In this case, let say if the price is US$ 5.00 you will get the US$ 900.00 for the contract by selling only 180 GDC, and the remaining 720 GDC you can sell for the price of US$ 3,600 permit the price is US$ 5.00.

Please let us know if you have any questions.

So if I don't pause the execution of VIDC100HOURS, my GDCs will be automatic sold out partly everyday ?
GadgetToken could be got every day?  this is no GadgetToken either I pause the contracts or not ?

Yes, that's correct, pausing is optional and if yo don't pause the contract then part of your GDC holding will be sold to the models/broadcasters every day (once the models are cashing out) until the 100 Hours is completed. One of our angel investors asked this option as he speculates for a higher than US 1.00 GDC price.

GadgetToken is an entirely different entity, it is the token purchased by the video viewer customers, and yes, it can be purchased everyday. You can't do anything with GadgetToken except pay for live video shows or later when the implementations and use cases expand pay for all kind of services on the GadgetNet network. GadgetToken is an internal token to convert the FIAT and BTC of paying customers into an entity that is manageable by the smart contracts. It is always pegged to US$ 1.00 based on a mechanism of the Bitshares pegging concept. The paying customers normally know nothing about digital currencies, they just want to watch some live adult or gaming content and they pay for the service buy buying GadgetTokens for BTC or FIAT.

Got it, Thanks!

[altcoinUK]

I understand why centralization is required in the software, but I think the lack of decentralization will keep the digital currency community away from Gadgetnet.

[meandme]

I understand why centralization is required in the software, but I think the lack of decentralization will keep the digital currency community away from Gadgetnet.

decentralization and digital currency  is tools, for giving user better and more convenient services with lower cost.

[mtomcdev]

I understand why centralization is required in the software, but I think the lack of decentralization will keep the digital currency community away from Gadgetnet.

decentralization and digital currency  is tools, for giving user better and more convenient services with lower cost.

I fully agree. Without having some centralization in the system we are simply unable to work with real world businesses. In order to comply with money laundering regulations and filter out sick, illegal content such as child pornography we must have certain centralization. Besides that, only administrative part of the system is effected by centralization to manage model sign up, check IDs, bank account details for cash out and process FIAT payments. The core modules such as the P2P nodes, public ledger part of the blockchain are decentralized. We have a choice, have some centralization and as you said provide for users better and more convenient services with lower cost or thinking rigidly about centralization and do nothing about that models currently get paid 50% and sometimes even less from the service providers.

[altcoinUK]

I understand why centralization is required in the software, but I think the lack of decentralization will keep the digital currency community away from Gadgetnet.

decentralization and digital currency  is tools, for giving user better and more convenient services with lower cost.

I can understand that, I am the biggest supporter of this project and I agree with most of what they do. I only stated the fact that the lack of decentralization is issue for the larger community.

Anyway, I couldn't care less that users  - who debate all day long about absolutely irrelevant technicalities like the fucking POS 50% attack and other nonsenses - stay away because this is centralized. I care about technology very much and I promote Bitcoin for years, but I had enough from that nobody is using the fucking thing after 5 years of struggle. Finally projects like this and Tilecoin try to break the ice and bring digital currencies to businesses.

And I was not moaning, it is fine by me if the larger digital currency community don't like this idea. Less VICR contract will be sold and my coins will have more value. There will be less competing stakeholders and I can run more streaming nodes.
They can keep debating about POS/POW and other absolutely irrelevant malarkeys. Why those subjects are irrelevant? Because nobody is using the 1000 exchange listed fucking alt currencies in the first place, except day traders for P&D. In the meantime this project can prove that digital currencies can bring value to businesses, and most importantly we will make money here.


 

[zsp]

I understand why centralization is required in the software, but I think the lack of decentralization will keep the digital currency community away from Gadgetnet.

decentralization and digital currency  is tools, for giving user better and more convenient services with lower cost.

I fully agree. Without having some centralization in the system we are simply unable to work with real world businesses. In order to comply with money laundering regulations and filter out sick, illegal content such as child pornography we must have certain centralization. Besides that, only administrative part of the system is effected by centralization to manage model sign up, check IDs, bank account details for cash out and process FIAT payments. The core modules such as the P2P nodes, public ledger part of the blockchain are decentralized. We have a choice, have some centralization and as you said provide for users better and more convenient services with lower cost or thinking rigidly about centralization and do nothing about that models currently get paid 50% and sometimes even less from the service providers.

Well thought plan and I am happy to see the good progress. This coin has a bright future.

[Netzer]

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.

[zsp]

I remember it was a picture in the OP and you posted a while back about a DAC (decentralized autonomous company) will be created here. Is it still on the table?

[chocobo]

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.

This isn't a place for you to keep spamming your advertisement, once is more than enough.

[zsp]

Yeah, this repeated studio advertisement was annoying.

[mtomcdev]

I remember it was a picture in the OP and you posted a while back about a DAC (decentralized autonomous company) will be created here. Is it still on the table?

We have been organizing this structure. We have registered two companies to implement the structure. Company "A" which name is GadgetNet LLC (Delaware State File Number: 57077-25), is the DAC company which hold 100% ownership in company "B". The reason of this two tier company structure is that we will bring further investment  into the project from venture capitalists. Unfortunately, VC investor firms don't even start considering a deal with an LLC company which has many individual owners like Company "A" will have. I am not sure why, but that's how VC firms work, according to them, they tried many times, but failed to close the deal with private companies that was owned by many-many owners. Such deal is just too much hassle, wast of time for them. So we will have to bring Company B into the deal of VC investment. The VC will have to talk to one representative of Company B, which simplifies the investment process without compromising the interest of our early angel investors who owns (together with the developers) 100% of Company B via Company A, GadgetNet LLC.

We believe a serious VC investment is absolutely essential to take the GadgetNet blockchain concept to large and medium size businesses and IoT system integrators.

Company A, GadgetNet LLC will be the DAC by managing company matters (such as voting and profit distribution) via the blockchain and smart contracts.

The ownership in Company A, GadgetNet LLC will be claimed via the VICR contracts. The ownership in GadgetNet LLC comes with the VICR contract for no extra charge. The ownership isn't mandatory, it is entirely optional for VICR contract owners to claim ownership in the DAC company. VICR contract owners don't have to claim their ownership in GadgetNet LLC, but we believe such formalized partnership provides all stakeholders with many benefits. In due course we will explain to VICR owners how to send a signed message to claim their ownership.

DISCLAIMER
Please note we are not selling company shares nor it's a securities offering. The ownership in GadgetNet LLC is an extra option for free of charge to formalize partnership with angel investors who are interested in digital currency. The option of claiming ownership in the DAC company does not effect the rights of VICR owners regarding to the 5% commission nor other aspects of the contract.

[albert_mt]

wow, wow, wow! I will get my BTC from my mining partners tomorrow and I will buy the VICR contracts. If you see 5 contracts are coming through that will be mine  

[altcoinUK]

I remember it was a picture in the OP and you posted a while back about a DAC (decentralized autonomous company) will be created here. Is it still on the table?

We have been organizing this structure. We have registered two companies to implement the structure. Company "A" which name is GadgetNet LLC (Delaware State File Number: 57077-25), is the DAC company

Wow. I just told someone not long time ago here in BCT that I would be interested in these type of tech and coins, because projects like this could attract VC investment - permit the project is managed properly. On that note, you need a communication and marketing guy ASAP!

What is the share capital of the LLC, how much share can be claimed with the VICR and what is the share class?

[meandme]

 How could I Runn a stream server node to earn ore？
is it just runing a specific software on PC？ or need buy some Hardware？

[mtomcdev]

I remember it was a picture in the OP and you posted a while back about a DAC (decentralized autonomous company) will be created here. Is it still on the table?

We have been organizing this structure. We have registered two companies to implement the structure. Company "A" which name is GadgetNet LLC (Delaware State File Number: 57077-25), is the DAC company

Wow. I just told someone not long time ago here in BCT that I would be interested in these type of tech and coins, because projects like this could attract VC investment - permit the project is managed properly. On that note, you need a communication and marketing guy ASAP!

What is the share capital of the LLC, how much share can be claimed with the VICR and what is the share class?

The share capital of GadgetNet LLC is US$ 100,000 and there are 100,000,000 shares with US$ 0.001 per share price. Each VICR contract can claim 200,000 shares which is US$ 200 share capital. So the VICR contract gets 900 GDC and the 200,000 shares in GadgetNet LLC, but again, we are not advertising a share purchase option with this and this is entirely an optional claim of ownership that is attached to the commission contract. Since this is a decentralized autonomous corporation we thought the shares should be A voting shares. Also, there is a drag-along clause attached to the shares.

[mtomcdev]

How could I Runn a stream server node to earn ore？
is it just runing a specific software on PC？ or need buy some Hardware？

As first use cases we will need to stream adult and gaming contents so I will explain the requirements regarding to those. These require to run our hybrid RTMP-WebRTC node software and you need a server rather than a PC. You don't need a powerful server to start with, but obviously if you have more power then your server can stream more video and you can earn more ores. The main requirements are the bandwidth and network connection. I suggest 250 Mbps and 1 Gbps respectively - more is obviously better. And the main issue is the internet traffic, you will be broadcasting quite a few TB data - large scale video streaming generates a huge traffic.

Terms of software, you will have to download the source of our streaming software and compile it or alternatively we can send you the binary. The platform is Linux for this specific node and we use mainly Ubuntu servers. (The P2P streaming client will run on Windows, Mac and Linux).

EDIT:

Please do not rent or buy a server just now, please wait until we post specifics about the launch date of streaming!

[tobeaj2mer01]

I remember it was a picture in the OP and you posted a while back about a DAC (decentralized autonomous company) will be created here. Is it still on the table?

We have been organizing this structure. We have registered two companies to implement the structure. Company "A" which name is GadgetNet LLC (Delaware State File Number: 57077-25), is the DAC company which hold 100% ownership in company "B".....

Fantastic, what's the name of Company "B"?

[mtomcdev]

I remember it was a picture in the OP and you posted a while back about a DAC (decentralized autonomous company) will be created here. Is it still on the table?

We have been organizing this structure. We have registered two companies to implement the structure. Company "A" which name is GadgetNet LLC (Delaware State File Number: 57077-25), is the DAC company which hold 100% ownership in company "B".....

Fantastic, what's the name of Company "B"?

GadgetNet LLC, and it is in Wyoming.

[loveyouforever]

I remember it was a picture in the OP and you posted a while back about a DAC (decentralized autonomous company) will be created here. Is it still on the table?

We have been organizing this structure. We have registered two companies to implement the structure. Company "A" which name is GadgetNet LLC (Delaware State File Number: 57077-25), is the DAC company which hold 100% ownership in company "B". The reason of this two tier company structure is that we will bring further investment  into the project from venture capitalists. Unfortunately, VC investor firms don't even start considering a deal with an LLC company which has many individual owners like Company "A" will have. I am not sure why, but that's how VC firms work, according to them, they tried many times, but failed to close the deal with private companies that was owned by many-many owners. Such deal is just too much hassle, wast of time for them. So we will have to bring Company B into the deal of VC investment. The VC will have to talk to one representative of Company B, which simplifies the investment process without compromising the interest of our early angel investors who owns (together with the developers) 100% of Company B via Company A, GadgetNet LLC.

We believe a serious VC investment is absolutely essential to take the GadgetNet blockchain concept to large and medium size businesses and IoT system integrators.

Company A, GadgetNet LLC will be the DAC by managing company matters (such as voting and profit distribution) via the blockchain and smart contracts.

The ownership in Company A, GadgetNet LLC will be claimed via the VICR contracts. The ownership in GadgetNet LLC comes with the VICR contract for no extra charge. The ownership isn't mandatory, it is entirely optional for VICR contract owners to claim ownership in the DAC company. VICR contract owners don't have to claim their ownership in GadgetNet LLC, but we believe such formalized partnership provides all stakeholders with many benefits. In due course we will explain to VICR owners how to send a signed message to claim their ownership.

DISCLAIMER
Please note we are not selling company shares nor it's a securities offering. The ownership in GadgetNet LLC is an extra option for free of charge to formalize partnership with angel investors who are interested in digital currency. The option of claiming ownership in the DAC company does not effect the rights of VICR owners regarding to the 5% commission nor other aspects of the contract.

I keep an eye on this project for a very long time, very good progress.