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

[chocobo]

Would it be possible to add 2FA to the wallet?

[mtomcdev]

@Shame_Game
Thank you for your support. In case if you can't get VICR you will be able to forge coins at later stage by running streaming nodes or helping us with marketing. Everyone will have the opportunity to participate even without VICR holding.

@albert_mt
We will try our best to make it work. The initial stress tests indicate the solution works.

@altcoinUK
We will invite all VICR holders to Slack to discuss the DAC. According to the lawyers we must not discuss the DAC share distribution in public forum, such public offering would be against US securities laws.

@chocobo
2FA is under test at this moment in time. We will try to release it very soon, possible in the next few days. We also think it is an important feature.

[Netzer]

Development Update

Blog

We are rolling out the streemo peer to peer live video streaming application on the GadgetNet network.  streemo is built on the GadgetNet P2P live streaming technology.

What is streemo?
In a nutshell, streemo is an open source alternative to commercial live streaming services such as Ustream or the hosted Wowza service.

Why?
We believe there are three main issues with hosted live video streaming

1) Cost. Using a commercial hosting service the license fee for a university costs at least US$ 10,000 a year.
2) Security and privacy. Using a central server all data goes through the provider. The providers claim the stream is encrypted, but since their application is closed source no one can verify what level of security is applied nor guarantee the privacy of the participants. If you stream for instance a board meeting on the network of popular service providers, you don’t know who is monitoring the video session and accessing your corporate data.
3) Scalability. To stream a football game to 1 million viewers it’s not really feasible using the centralized current infrastructure. We believe our P2P streaming application can manage large audience live streaming. In fact, just like on the torrent network, more peers and more viewers increases network stability.

There is one more important use case for the P2P live video streaming: secure live video chat. Currently the video chat is running through centralized providers like Skype or Viber. Again, there is no guarantee that only the chat users can access the stream. An investigative journalist cannot use those services. Neither can whistle blowers, nor human right activists living under the control of totalitarian regimes without taking the probably unwise risk of exposing themselves to unwanted eyes. The encrypted peer to peer GadgetNet video chat that runs on I2P network is the perfect environment for a secure and virtually untraceable video chat.

Where we are with the application?
We are curently testing and wiring it up to GadgetNet. The plan is to roll the first working prototype out in the next few weeks at www.streemo.net. This will be a centralized place for gamers, universities, conferences and all other users to promote their live video shows, but users can still run the P2P application without this centralized service.  

Is technical support available for commercial users?
Yes, we will offer technical support for US$ 99 per month for 10,000 viewer hours to make sure your streaming infrastructure is in good shape. This is a more than a 90% saving on the Ustream US$ 999 per month for 5,000 viewer hours price.

thank your for this great project update.

[chocobo]

So GadgetToken will always be $1 correct? As well as instantly redeemable for USD or BTC?

Also you are ok with GadgetCoin being on exchanges? I think that it is more of a positive than a negative and really is inevitable, being a coin people will trade it one way or another.

[mtomcdev]

So GadgetToken will always be $1 correct? As well as instantly redeemable for USD or BTC?

Also you are ok with GadgetCoin being on exchanges? I think that it is more of a positive than a negative and really is inevitable, being a coin people will trade it one way or another.

In the context of the VICR contract it cannot be less than US$1. The VICR contract says that the system won't purchase GDC behalf of the broadcasters for less than US$ 1 - the smart contract simply won't execute on a less than US$ 1.00 price. That's the price the broadcasters must pay for 1 GDC in order to pay the network fee and to be able to cash out. So yes, if you sell the GDC to the broadcasters via the automated system process of VICR execution, then the price cannot be less than US$ 1.00.
What will be the price outside the VICR framework we don't know. Coin holders can trade the coins for any price, though we hope the price will reflect the effort goes into the technology and the potential in the P2P use cases.

Terms of the exchange, we agreed a few pages back that the coin will be on the exchanges permit that the exchanges accept this completely new blockchain. We haven't copied a line from Bitcoin nor Litecoin, so we don't know how that will be seen by the exchanges. We will release an open source wallet very soon so I think the exchanges should accept the coin. It seems so far the blockchain is stable and we are processing transactions with less than 1 second confirmation time, that should be good enough for the exchanges.

[mtomcdev]

Sorry for not replying the original question  The GadgetToken will be pegged to 1 USD and it can be converted to FIAT or BTC. This is a must, otherwise the broadcasters won't be working on the Gadget network.

[chocobo]

Sorry for not replying the original question  The GadgetToken will be pegged to 1 USD and it can be converted to FIAT or BTC. This is a must, otherwise the broadcasters won't be working on the Gadget network.

Thanks! So basically GDT is just a placeholder for FIAT and BTC on the GDC blockchain?

[mtomcdev]

Sorry for not replying the original question   The GadgetToken will be pegged to 1 USD and it can be converted to FIAT or BTC. This is a must, otherwise the broadcasters won't be working on the Gadget network.

Thanks! So basically GDT is just a placeholder for FIAT and BTC on the GDC blockchain?

That's correct. As we explained it several times in this thread, GDT is an internal medium of exchange to manage the transactions and provide solution for the volatility of digital currencies. Broadcasters wouldn't work with us if their income would be measured in a volatile digital currency. The models want to get paid a fixed amount of US dollar for a given time of broadcasting, for example 3 US$ per minute. First the BTC and USD buy-ins of the customers are translated to an internal token (GDT) on a US$ 1.00 per GDT exchange rate, just like LiveJasmin and Myfreecams and all other sites use Token as internal medium of exchange. When the broadcasters cash out then their tokens (GDT) are converted back to USD on a US$ 1.00 per GDT exchange rate or BTC if they wish to receive Bitcoin.

[altcoinUK]

Could you please post here what is the Chinese QQ group code?

[mtomcdev]

Could you please post here what is the Chinese QQ group code?

I will try to find out.

[mtomcdev]

There is a post at our blog site it was submitted yesterday to explain the streemo application.

[meandme]

Could you please post here what is the Chinese QQ group code?

被解散了·

[meandme]

There is a /1eJRGjm]post at our blog site it was submitted yesterday to explain the streemo application.

can't  buy contracts any more?

when i buy the contracts ,it shows "Error  Transaction error. Error code: 4096"

what is the problems?

[mtomcdev]

There is a /1eJRGjm]post at our blog site it was submitted yesterday to explain the streemo application.

can't  buy contracts any more?

when i buy the contracts ,it shows "Error  Transaction error. Error code: 4096"

what is the problems?

Thank you for pointing this problem out. We are looking into it. I will let you know when the error is resolved.

[mtomcdev]

There is a /1eJRGjm]post at our blog site it was submitted yesterday to explain the streemo application.

can't  buy contracts any more?

when i buy the contracts ,it shows "Error  Transaction error. Error code: 4096"

what is the problems?

Please try again, I think it is operational. I am not sure what was the issue, I can't see any errors, but we will investigate it.
Sorry for the inconvenience.

[meandme]

There is a /1eJRGjm]post at our blog site it was submitted yesterday to explain the streemo application.

can't  buy contracts any more?

when i buy the contracts ,it shows "Error  Transaction error. Error code: 4096"

what is the problems?

Please try again, I think it is operational. I am not sure what was the issue, I can't see any errors, but we will investigate it.
Sorry for the inconvenience.

it happened today, i asked another one to try on his pc,and he also have this problems

[mtomcdev]

There is a /1eJRGjm]post at our blog site it was submitted yesterday to explain the streemo application.

can't  buy contracts any more?

when i buy the contracts ,it shows "Error  Transaction error. Error code: 4096"

what is the problems?

Please try again, I think it is operational. I am not sure what was the issue, I can't see any errors, but we will investigate it.
Sorry for the inconvenience.

it happened today, i asked another one to try on his pc,and he also have this problems

Thanks for reporting the error. As I said now it works fine, but also I can see the errors from earlier today in the detailed log file, and I can understand you received the 4096 error. We will try to get to the bottom of the problem.
Sorry for the inconveniences.

[meandme]

There is a /1eJRGjm]post at our blog site it was submitted yesterday to explain the streemo application.

can't  buy contracts any more?

when i buy the contracts ,it shows "Error  Transaction error. Error code: 4096"

what is the problems?

Please try again, I think it is operational. I am not sure what was the issue, I can't see any errors, but we will investigate it.
Sorry for the inconvenience.

it happened today, i asked another one to try on his pc,and he also have this problems

Thanks for reporting the error. As I said now it works fine, but also I can see the errors from earlier today in the detailed log file, and I can understand you received the 4096 error. We will try to get to the bottom of the problem.
Sorry for the inconveniences.

it is ok now

[altcoinUK]

Devs,

I really like what you try to achieve and I bought several VICRs. I already gain a lot from this project by learning a lot about IoT and seeing your white paper, development board, blockchain and the rest what you have I know you will deliver. So I am not pressing anything nor complaining, but I think we need to discuss what next?

I understood that your plan was to build a strong community, but be honest to ourselves it is not going to happen here. A few of us like your coin, but the BCT community couldn't care less about this coin despite you clearly have real world use cases (adult web-cam, game broadcasting, security CCTV, etc). It's quite clear you are not going to build a community here. That means you are not going to get help on the marketing front from the non-existent community. Your plan was that the growing community will help advertising the platform - that's not going to happen. So how you are going to continue? What's the plan?

Again, since this is one of the handful coins in the crowded strong altcoin market which has a real purpose, I am sure all VICR owners will be patient, I certainly will be, because we understand to implement and make profitable a serious application takes time. On the other hand if something doesn't work like your community building and marketing plan then better to discuss the next step.

Your streemo live video streaming platform will be a winner, the IoT blockchain will be used by real world businesses. Everything looks really cool except the marketing and expansion plan, so lets discuss it.

Also, is it worth to continue the VICR? The little interest probably does more harm to the project than help in progressing.

[albert_mt]

don't stop the vicr I want to buy more next week