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

[albert_mt]

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.

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[altcoinUK]

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.

[lujunqing7890]

February 25 - 26, 2016
Hard Rock Hotel San Diego
http://www.industryofthingsworldusa.com/en/
Defining the future of the Industrial Internet of Things
Join the 4th industrial revolution today!

February 25-26, 2016, San Diego, CA, USA

HOME
 
SPEAKERS
 
AGENDA
 
ATTENDEES
 
PARTNERS
 
NEWSROOM
 
EVENT INFO

We do not know our GADGETCOIN there to participate in this exhibition, where you can find our page.
I remember you said, W3C make provision about the networking industry, there is the use of our research, some of the W3C there? Thank you, our free report said.

[mtomcdev]

February 25 - 26, 2016
Hard Rock Hotel San Diego
http://www.industryofthingsworldusa.com/en/
Defining the future of the Industrial Internet of Things
Join the 4th industrial revolution today!

February 25-26, 2016, San Diego, CA, USA

HOME
 
SPEAKERS
 
AGENDA
 
ATTENDEES
 
PARTNERS
 
NEWSROOM
 
EVENT INFO

We do not know our GADGETCOIN there to participate in this exhibition, where you can find our page.
I remember you said, W3C make provision about the networking industry, there is the use of our research, some of the W3C there? Thank you, our free report said.

Thank you for pointing this out!
This conference is for the world's largest companies and not small open source teams, so GadgetNet of course won't be there. However, one of the keynote speaker is the CEO of W3C. It seems W3C will be defining the standards as per this agreement at https://www.w3.org/blog/wotig/2015/08/11/w3c-and-iic-sign-liaison-agreement-for-the-industrial-internet-of-things/ . So our aim is to contribute more and better quality work to the W3C standardization effort.

[altcoinUK]

Devs!

I posted this to the Armstrong thread.

Here we go.

Armstrong pointed out several times in the past that governments simply won't allow using digital currencies. Armstrong argued that once digital currencies start interrupting the tax collection system then governments will act. It seems the governments indeed start acting.

http://www.armstrongeconomics.com/archives/39715

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#O5TVOC4VyQ3B2QFj.97

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.

[richwang01]

When and where can I buy this coin?

[mtomcdev]

When and where can I buy this coin?

Once the open source application is released then the VICR contract related coin sell, as well as independent, not VICR related coin and share trade will be started. When? We plan to release everything in December, in the next few weeks. The trade will be within the wallet at http://wallet.gadgetcoin.org.

[Edward_Cryptonit]

Greetings to everyone. Glad to see some progress =)

Btw. anything interesting during the W3C interest group held on the 26th of November?

Regards.

[tzpardi]

Greetings to everyone. Glad to see some progress =)

Btw. anything interesting during the W3C interest group held on the 26th of November?

Regards.

The presentation and talk with the W3C security interest group went well. Due to the Thanksgiving holidays it was a small audience, but we did the first public step in this collaboration and next time will be more participants. The outcome of the meeting is that we will start working with Siemens and other W3C members on an application to demonstrate the technology.
I am committing the final peer to peer modules to GadgetNet and mirroring everything in the W3C web-of-things system to make the two code bases consistence. I am also creating a hardware demo to explain with ARM and AVR boards how to use the technology.

[chocobo]

Looking to buy shares in Gadgetnet, please PM me if you'd like to sell!

[lujunqing7890]

  ;DSo optimistic GDGC this currency ah, to receive shares or receive money, ah, how much the price of a.

[altcoinUK]

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

[mtomcdev]

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

Update

The main focus has been on redesigning and optimizing the P2P modules and ensuring the security and privacy requirements are addressed. The base modules have been completed and now we are testing the application. First we needed to convert everything to Nodejs so the changes can be committed to the W3C code base at the web-of-things-framework. Among many others, the Kademlia, ECDSA and ECDH modules were completely rewritten. We will be releasing
a) Stand alone application in which humans and machines operate in a true decentralized P2P manner
b) Chrome application which is still true P2P but allows simplified deployment via the Chrome app environment, so users don't need to download the bulky stand alone client and the client installation is simplified
c) Light clients that connects to the GadgetNet network via a server back in using web-sockets for users who require even more simplified deployment

These three architectures use the very same code base.

One of the challenges was to satisfy the privacy requirement. We have included a feature that allows to run the application as a private network. This way for example a home automation system or an IoT installation of a business can be isolated from the public P2P network - still using the very same client that connects to both the public and private IoT network. For instance, there could be scenarios that the client use the software to buy a drink from an IoT vending machine that is on the public network and the very same client software manages the private network that controls the IoT door device of a residential home. In order to achieve this we have integrated an authentication mechanism into the Kademlia DHT layer. This also helps in mitigating the risk of Sybil attack as well as DDoS attack to a certain extent. This will be detailed in the updated white paper.

The P2P video and audio streaming will be included as well. One of the challenges with regards to that is to move away from the proprietary RTMP protocol and we have the first working prototype to manage this using open standards.

We apologise for this very slow progress, but to bring the P2P decentralized idea in line with Internet of Things and in the meantime satisfy security and privacy requirements and deliver the P2P video streaming is lot more work than we anticipated. Having said that, we are getting there.

Thank you all for your support!

[albert_mt]

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

Update

The main focus has been on redesigning and optimizing the P2P modules and ensuring the security and privacy requirements are addressed. The base modules have been completed and now we are testing the application. First we needed to convert everything to Nodejs so the changes can be committed to the W3C code base at the web-of-things-framework. Among many others, the Kademlia, ECDSA and ECDH modules were completely rewritten. We will be releasing
a) Stand alone application in which humans and machines operate in a true decentralized P2P manner
b) Chrome application which is still true P2P but allows simplified deployment via the Chrome app environment, so users don't need to download the bulky stand alone client and the client installation is simplified
c) Light clients that connects to the GadgetNet network via a server back in using web-sockets for users who require even more simplified deployment

These three architectures use the very same code base.

One of the challenges was to satisfy the privacy requirement. We have included a feature that allows to run the application as a private network. This way for example a home automation system or an IoT installation of a business can be isolated from the public P2P network - still using the very same client that connects to both the public and private IoT network. For instance, there could be scenarios that the client use the software to buy a drink from an IoT vending machine that is on the public network and the very same client software manages the private network that controls the IoT door device of a residential home. In order to achieve this we have integrated an authentication mechanism into the Kademlia DHT layer. This also helps in mitigating the risk of Sybil attack as well as DDoS attack to a certain extent. This will be detailed in the updated white paper.

The P2P video and audio streaming will be included as well. One of the challenges with regards to that is to move away from the proprietary RTMP protocol and we have the first working prototype to manage this using open standards.

We apologise for this very slow progress, but to bring the P2P decentralized idea in line with Internet of Things and in the meantime satisfy security and privacy requirements and deliver the P2P video streaming is lot more work than we anticipated. Having said that, we are getting there.

Thank you all for your support!

cool! nice to hear the devs are making progress!
IOTA is a very strong competitor. there are Iota articles everywhere. Their marketing is very strong. how can we improve the marketing of gadgetnet?

[altcoinUK]

cool! nice to hear the devs are making progress!
IOTA is a very strong competitor. there are Iota articles everywhere. Their marketing is very strong. how can we improve the marketing of gadgetnet?

The GadgetCoin guys can't compete with that hype and exposure. Those guys at IOTA are in a different league terms of marketing and community support and in attracting investment. The whole NXT and Supernet community is routing for them and they have a huge support. Though the start, intermediate and end part of the story will be precisely the same as the NXT and Jinn story have been. The majority of the coin will be purchased by the usual suspects, then P&D, then some happiness and then lots of tears and disappointments. Edward above should know the story and what's happening there ... he should know a lot about CfB ... I was wondering what was the sudden curiosity above about that presentation, but never mind.

I suggest again, the GDGC devs go away from this place to Slack and keep continue talking to real businesses, angel investors and VCs instead of hoping they can gain community support here. They won't be able to beat IOTA and CfB here, on their own playground.

[altcoinUK]

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

Update

The main focus has been on redesigning and optimizing the P2P modules and ensuring the security and privacy requirements are addressed. The base modules have been completed and now we are testing the application. First we needed to convert everything to Nodejs so the changes can be committed to the W3C code base at the web-of-things-framework. Among many others, the Kademlia, ECDSA and ECDH modules were completely rewritten. We will be releasing
a) Stand alone application in which humans and machines operate in a true decentralized P2P manner
b) Chrome application which is still true P2P but allows simplified deployment via the Chrome app environment, so users don't need to download the bulky stand alone client and the client installation is simplified
c) Light clients that connects to the GadgetNet network via a server back in using web-sockets for users who require even more simplified deployment

These three architectures use the very same code base.

One of the challenges was to satisfy the privacy requirement. We have included a feature that allows to run the application as a private network. This way for example a home automation system or an IoT installation of a business can be isolated from the public P2P network - still using the very same client that connects to both the public and private IoT network. For instance, there could be scenarios that the client use the software to buy a drink from an IoT vending machine that is on the public network and the very same client software manages the private network that controls the IoT door device of a residential home. In order to achieve this we have integrated an authentication mechanism into the Kademlia DHT layer. This also helps in mitigating the risk of Sybil attack as well as DDoS attack to a certain extent. This will be detailed in the updated white paper.

The P2P video and audio streaming will be included as well. One of the challenges with regards to that is to move away from the proprietary RTMP protocol and we have the first working prototype to manage this using open standards.

We apologise for this very slow progress, but to bring the P2P decentralized idea in line with Internet of Things and in the meantime satisfy security and privacy requirements and deliver the P2P video streaming is lot more work than we anticipated. Having said that, we are getting there.

Thank you all for your support!

Thanks and no problem. If you deliver the 30% of what you are aiming for then everything will be more than fine. Ethereum had been developing for 2 years until the very first,basic release with lots of developers, rootstock has been developing for 2 years with lots of developers. The development of complex things take time.

It would be great if I could receive the new white paper before Christmas. This is the Christmas party season here, lots of meetings and I could show it to people who could help the project in moving forward.

[mtomcdev]

Thanks and no problem. If you deliver the 30% of what you are aiming for then everything will be more than fine. Ethereum had been developing for 2 years until the very first,basic release with lots of developers, rootstock has been developing for 2 years with lots of developers. The development of complex things take time.

It would be great if I could receive the new white paper before Christmas. This is the Christmas party season here, lots of meetings and I could show it to people who could help the project in moving forward.

It is unlikely the updated white paper will be available in the next 7 days, but I will let you know if we can manage to complete it.

[Edward_Cryptonit]

cool! nice to hear the devs are making progress!
IOTA is a very strong competitor. there are Iota articles everywhere. Their marketing is very strong. how can we improve the marketing of gadgetnet?

The GadgetCoin guys can't compete with that hype and exposure. Those guys at IOTA are in a different league terms of marketing and community support and in attracting investment. The whole NXT and Supernet community is routing for them and they have a huge support. Though the start, intermediate and end part of the story will be precisely the same as the NXT and Jinn story have been. The majority of the coin will be purchased by the usual suspects, then P&D, then some happiness and then lots of tears and disappointments. Edward above should know the story and what's happening there ... he should know a lot about CfB ... I was wondering what was the sudden curiosity above about that presentation, but never mind.

I suggest again, the GDGC devs go away from this place to Slack and keep continue talking to real businesses, angel investors and VCs instead of hoping they can gain community support here. They won't be able to beat IOTA and CfB here, on their own playground.

Hi, altcoinUK

Not sure what you have meant by "Edward above should know the story and what's happening there ..." but just wanted to let you know that I do not have any affiliation with NXT or any other projects which you have mentioned in your post, never had any stake there. Seems you have confused me with some other Edward who you know from those projects.

I have been interested in the Gadgetnet technology from the very beginning and the question which I have addressed above was solely to find out how did the interest group go, no implications. I asked this question because I believe that these offline events can contribute to popularization of Gadgetnet technology and bring in new interested parties.

Regards.

[chocobo]

Still looking to buy more Gadgetnet shares. Message me if you are looking to sell!

[iotatoken]

cool! nice to hear the devs are making progress!
IOTA is a very strong competitor. there are Iota articles everywhere. Their marketing is very strong. how can we improve the marketing of gadgetnet?

The GadgetCoin guys can't compete with that hype and exposure. Those guys at IOTA are in a different league terms of marketing and community support and in attracting investment. The whole NXT and Supernet community is routing for them and they have a huge support. Though the start, intermediate and end part of the story will be precisely the same as the NXT and Jinn story have been. The majority of the coin will be purchased by the usual suspects, then P&D, then some happiness and then lots of tears and disappointments. Edward above should know the story and what's happening there ... he should know a lot about CfB ... I was wondering what was the sudden curiosity above about that presentation, but never mind.

I suggest again, the GDGC devs go away from this place to Slack and keep continue talking to real businesses, angel investors and VCs instead of hoping they can gain community support here. They won't be able to beat IOTA and CfB here, on their own playground.

I can't help but feel sorry for your kind of mentality. Why the animosity? We are developing IOTA precisely because we saw the need for it in IoT, especially for Jinn, which contrary to your false delusions is in full and healthy development by electrical engineers and PhDs. NXT and SuperNET only make up a sliver of our support, our support comes from the interest in the technology we are making, not just our past affiliations. And as for your childish 'ends in tears' comment: everyone that bought JINN tokens with NXT had a 5x ROI in NXT within just a few months, so tears of joy in any event.

Also, Slack is not our 'playground' as you so maturely put it, we have been in active dialogue with several leading players in what you call 'real business' for months, we are kickstarting the IOTA economy in a decentralized and organic manner, as that is required for the IoT economy to stay secure and interoperable between businesses and technologies, but our focus is W3C/standardization, established companies and start-ups.

It's pretty sad that instead of reaching out and seeing if there is some overlap for collaboration, you feel the constant need to air your insecurities by spreading vacuous rumours and postulating falsehoods. I suggest that you find something productive to do with your life...


If any core GadgetCoin devs are interested in having real productive and mature discussions of potential overlap, feel free to PM me, IOTA is all about inclusion and growing the IoT ecosystem.