Topic: [ANN] [GDGC] GadgetCoin | IoT | M2M |Smart Contracts on Hardware - page 35. (Read 88551 times)

i only wonder how/when to join the ipo

I think you are on the right track if you want to create a coin for real world use cases, as you said to assist as a token in generating revenue for real world businesses. I think it is clear by now that the +600 strong altcoin market is absolutely hopeless and my prediction that it will be non-existent in 2016. None of the altcoins is used for any real world purposes, and therefore there is no reason for their existence. The day trade was good fun, the endless P&D scams attracted some investment into crypto, but as you can see, the altcoin market is unable to attract any more investments. It's over, as simple as that. Ethereum (which smart contracts could be useful for businesses) and perhaps 1-2 more will survive, but not even NXT will make it as nobody can use them for any meaningful purposes.

I suggest,
- Forget all IPO/ICO, try to make it without asking money from investors. An IPO is just a cancer on the project.
- Don't go to an exchange, there is no point to expose the coin to volatility and day trade. You identified correctly that volatility is in issue for real world businesses. I also read in this thread that there will be a trade function in the wallet for GDC/BTC exchange. I think that would be better than trading the coin on exchanges. Businesses who use the coin can get it directly using the wallet, coin holders could sell the coins directly to businesses using the wallet and day traders can fuck off to manipulate the price of other coins.
- Peg the price of the coin to BTC or USD, I think that is an absolute must if you want the coin to function as a token.
- Speed up the process :-)))) not that you missed a lot or anything really on this dying altcoin market.

The focus has been on the following three areas in the last few weeks

1. There will be three business use cases and working projects from day one that manage devices and complex business processes with our block-chain based solution. We have been wiring up the projects and integrating them into the GadgetCoin network. The progress is good, but the work takes time. We are working on really exciting projects to release a digital currency that isn't only a trading asset, not only the subject of day trading but used as a payment token to generate revenue for real businesses.   

2) It is clear from the feedback from potential users that the volatility of digital currencies is an issue. GadgetCoin will be used as a token to process payments for IoT related services and a fluctuating revenue that is due to a volatile currency is not an option. For that reason the volatility must be addressed. The coin must be pegged to stabilize the price and we have been wiring up this feature.

3) All real life business use cases require some form of audit and must be enabled to comply with laws and regulations. We have been working on this and making sure that the audit feature is robust and fully operational. The progress is good and now the feature is being tested.
In the meantime, while the currency must provide interfaces for auditing, privacy is also a concern. As you can see this is a paradox, the audit and privacy are requirements must be addressed in the same time. With most of digital currencies every transaction can be tracked and be linked to the public keys involved in the transaction. From privacy viewpoints the main issue with current digital currencies is that every transaction is publicly logged in the block-chain. For example a user who buys parking places, hotel rooms, self-storage facilities, and gym equipment from IoT devices could be profiled and tracked by examining the block-chain. Our work with businesses in the last three months made clear that the lack of privacy is unacceptable for businesses operating Internet-of-Things devices. The business’ trading data would not be safe from the competitors’ eyes and such lack of privacy would make the GadgetCoin an impractical offering. Therefore, we identified untraceability and unlinkability as the two main system requirements to ensure users' privacy, and now the focus is on the implementation details of privacy feature. 

Thank you for your continuing interest and we will keep you updated.

Is there any update, it's a long time from last update,  you guys should take care of the community.

Absolutely, I like that this project tries to make it without an IPO/ICO. Seeing the videos, white paper, hardware design, screenshots etc. it seems they have resources and could easily present an ICO/IPO to collect money like 99% of crypto projects do, instead of doing that they promise a fair coin distribution, which is an encouraging first step.

One more thing, there is no IPO/ICO of Gadgetcoin, but most of Tilepay is held by some big bagholders.

While I like and invested in TileCoin too, based on the white paper and hardware schematics published by the GadgetCoin team I fully agree with you.

If the technology that is described by the white paper is implemented then I think GadgetCoin could be a very successful coin and it will be able to compete with IBM's ADEPT software.

mark,an I will continue to pay attention to this project

Man, comparing with Gadgetcoin, tilepay is only a baby.

As I posted here already, I will be happy to distribute the development board in the UK and Ireland. Based on the schematics, it looks a well designed and quite capable device.

It seems the hardware will be available next month. We have sent already the parts to the device factory to produce the first batch and they are just waiting the go ahead signal from us. 
You will be able to buy it at our web site at www.gadgetcoin.org and from our distributors. There are a few users in this thread who indicated that will be happy to distribute the device in the UK, Ireland and China and we look forward to working with you all to sell this development board.

what time can buy hardware .where buy .dev

I am discussing this very same question with the BitShares guys at https://bitcointalk.org/index.php?topic=945640.new#new

I think it is a very good idea to peg any coins. I suggest the developers check out BitShares. I think the BitShares model is a sensible one and it seems works well terms of stability as the value of their bitUSD currency is pretty much 1 USD all the time.

Fantastic! China will be a very important market for us. Thank you so much for your support!

1) We hope the live network can be operational within a few weeks.
Our pilot partners do the integration at their back-end at this moment in time to handle gadgets such as Internet of Things enabled security devices (one of the pilots is a security company that operates gate, camera, motion sensor controllers and will use the Gadget protocol to manage the devices). The integration is a huge and risky task at their back-end and understandably it takes time. If they won't be ready in a few weeks time then regardless of their progress we will start the network without them with a few basic use cases, and later the business pilot partners can join the network.

2)
a) Trusted nodes will be able to forge coins by providing their unused computing resources to the network (basically a low end 512MB Linux or a small Windows box where we can run a trusted node). As we have explained here already, trusted nodes will be utilized to achieve the under 1 second transaction time, comply with regulations and fight with malicious nodes that try to compromise transaction integrity.
b) Developers who contribute to the code base and improve the application will be able to forge coins
c) Once the trade start you will be able to buy GDC on the exchanges

The forging will be transparent and recorded in the blockchain, there won't be any hidden coin generation. Trusted nodes and developers will earn "forging tokens" based on their contribution to the network, and then GadgetCoins will be created from the "forging tokens" during the forge process. The number of issued "forging tokens" and consequently forged coins will be primarily determined by the demand. For instance, if there is demand for the coin on the exchanges or a new security business sign up to the network to use the Peer to Peer Gadget network to mange their business, then there will be increased demand for new coins (as the new user need to pay networking fees in GadgetCoin), and then the system will allocate new "forging tokens" to eligible users.
Developers who work on the project and users like tobeaj2mer01 who kind enough to support this project and already offered their computing powers for the test network will be provided with "forging tokens" when the live network start, but when the network grow new and new trusted nodes will be able to join to the process to earn "forging tokens" and forge coins. We want anybody could forge GadgetCoin who contribute to the project in one way or an other.

At least that's the plan regarding to the forging process, please let us know if it does make sense and what you think. We write the system from scratch and we can modify it to include good ideas and suggestions.

Two simple questions:

1. When will this coin launch?
2. How can I get some coins?

Great work, looking forward to the coming news.

what do you propose for peg feature? same as bitbay or nubits or bitshares?

Thank you for your interest.

We have been working on the project. In fact the development is going really well. There is a new pilot partner and we are making very good progress to implement real world business solutions by developing the software and integrate the devices for this second pilot. The volatility of Bitcoin and the so many scams in digital currency make very hard to sell the crypto currency concept, but since we are not selling pre-mined coin nor asking money via an IPO, additionally we decided to peg GadgetCoin to the US dollar to circumvent volatility, the response from potential business users is really encouraging.

We will update this thread soon with good news and more detailed info.