sorry for late to come back and i just finished my biz trip and a long holiday.
In recent days, Mr. Zhao Dong who is a important guy in Chinese crypto world that he offered 10 BTC reward to develop a plug in weibo: reward a weibo message who will get some random or exact amount BTC.
Just now I was discuss with him by phone, I told him that MED Tipbot can realize your target and MED TipBot could give you more and more functions than your image, he is very interesting.
I mean the crypto world realized what kind of COINS is not the most, and application is the important point! MED TipBot is on this way for far and beyond! Our Dev, smallplatf is a foresight guy!
About 1 month ago (before my biz trip and the long holiday), smallplatf replied my email about "Chinese Crypto Meeting in Guangzhou", some party of his email is following:
"In this meeting the main objectives is mining, mining field, power source and building, all heavy weight guys are not good look at bitcoin, for keep bictoin price in 3000 RMB that it need 15 million RMB into bitcoin market every day, it is so difficult for it."
comment 1: the heavy weight guys are investing a lot, so they are asking themselves "what do to next to save our investment?", not an easy question, because cryptocoin world (and the business models) is changing a lot and very fast, this makes it difficult for the big guys to be sure and safe on the next steps to keep their investment. If I was a big guy, I would diversify my investments on several different new ideas (maybe like a venture capital investor); if I invest on 20-30 different potential projects and if 2 or 3 works than I am satisfied and happy because I have found out where to go. Instead if the big guys invest only on one technical feature (i.e. power mining, that is, big data centers dedicated to mining) I do not know what could happen, maybe some big guy could fail (and others become even bigger).
Regarding MED, I think that this is good for us: mining power is still on a race to increase, so a lot of smaller devices are becoming not useful anymore; MED intercepts this need and I think that this will be true if the mining power of bitcoin network keeps increasing (for how long? for ever? 1-2-3 years?). I do not believe that bitcoin network mining power will increase forever... but that is my opinion. I think that we have about 1 to years where this is true and so MED a very strong argument and message in its favour.
"I present my opinions in this meeting that applications is the base of bitcoin price, if everybody focus on bitcoin mining business, Chinese bitcoin community will break bitcoin world and lost status. On the other way, we should look around other cryptocurrencies, for example: MED, there are many apps to dev and innovate."
Comment 2: I agree 100% with you. Today, I feel that the cryptocoin world is hungry for applications; this is true today, but in 3-6 months probably the general feeling will move to something else, asking for something more than applications; i.e. maybe a new internet killer application? a new social network? a new google? we are studying this with aspect with a lot of attention, because if we guess right what will come next, we can be on top of it.
Also, I think that the cryptocoin world is not only bitcoin but there is place for other cryptocoins as well, thanks to the exchanges one can switch from one to the other, so I am pretty confident that MED can keep its space in the cryptocoin world and this trend will continue for at least 1-2 years.
"All Chinese bitcoin exchange companies have feel worried about bitcoin market, and they are looking for other business modes such as bitcoin bank, bitcoin finance products, dogecoin\darkcoin\bitcoin online wallet, etc. In this back ground, chbtc invite me to their company to discuss something in Zhongshan city and I did."
Comment 3: if the concept of bitcoin bank is copied from the concept of standard bank, I do not think that this can be successful; in fact, everybody can be its own bank by using cryptocoins. There are still issues regarding security of coins against stealing etc, but I think that the cryptoworld is looking for something more than a traditional bank. Bitcoin finance products: also this concept is copied from standard finance products; talking with people around, I think that people are loosing trust in traditional banks and finance products, so there is room to propose new innovative services, developed only for cryptocoins. Online wallets: MED tipbots go exactly in this direction: the use of cryptocoins must be super easy (more easy than cash and credit/debit cards), users want their coins on the phone, on google glasses, on their smart-tv.... we need a smart Android/Apple app for MED, this is something that is missing currently. We need to be on Google Smart tv platform, Apple Smart tv platform... We have already ported the bitcoinj to MED and the android app (it is all on github), but we are not very satisfied with it because it consumes bandwidth and battery and there are issues regarding the wallet on the phone too. Security on the phone requires a "secure element", tipically the SIM or something else. With MED we could do that, see one of my proposal below. We like the idea of using NFC with MED, we think this is technically possible.
"CEO of chbtc, Mr. Hua and I told about to create a new coin exchange to promo a new crypto coin, it is an IPO coin and we want to IPO more than 10,000 bitcoins. We imagined that coin is a new algo, and it could use some functions as following:
1. Add "personal info / search / send message / " functions to block chain, if block chain will be became so large, then it should use many nodes to solve this problem.
2. In wallet people can search some bodies who can provide legal advices, medical services and others but all services are anonymous, wallet address is the only user ID (maybe it could set a nickname), people search some service provide guy, and send message to him, but each message need to spend some coins to send out, service provide people could avoid receive spam message if use this setting.
3. Each service provider will list on a column in wallet, and "votes" near by username or wallet address, and people could select them by "votes".
...
"
Comment 4: the Peatio platform looks nice, also good is that all APIs are already integrated; the 10.000 bitcoin IPO is interesting and the 20% return; but how much should we invest in marketing to attract enough users? also, what does this platform have more in respect to others established exchanges i.e. btc-e.com, cryptsy etc? Additionally, since Peatio works with cash too, consider that in Italy laws about financial services are very complex and since justice is often arbitrary, one risks sanctions/prison even if committing the smallest mistake... I would rather setup a dedicated company in Slovenia, Croazia or Serbia rather than Italy. Or Spain, or some african country.
So, this is not a no or yes to this proposal, I am just saying that this requires more analysis.
Point 2, expecially regarding using MED for anti-spam is something on which we are working right now.
***
Here is a first proposal from our side:
[warning! it is of course very ambitious and will take time and resources to build it! thinking about a project divided in phases; investors are welcome, of course]
- maintain MED presence on btc38.com and cryptsy; add some 2 other main exchanges
- build the MED "Social portal", see below;
- MEDSMS, text-based gateway and wallet system using ENCRYPTED SMS (instead of typical clear text sms that can be intercepted and/or stolen)
- MED payment processor for merchants (the code is mostly complete)
- MED mobile network payment system integrated into Athonet Primo (
http://www.athonet.com/athonet/cube.php): we have been using and developing since 2009 with these devices; with Primo you create private 4G LTE autonomous network [we would like to announce this during GSMA Mobile World 2015 in Barcelona; what do you think about buying together a small stand there? estimate costs: 30.000 euro; we visit GSMA Mobile World each year and it is a great place to be in for business]
- MED online advertising system
- MED vending machine (or more generally altcoin vending machine)
- some specialized, ready to use MED ecommerce apps (i.e. think about "order online your Pizza and pay with MED")
- MED smart mobile apps (addressing blockchain issues etc)
- MED VoIP services (basically, third party VoIP or telecommunication services paying with MED)
***MED "Social portal"***
- strictly integrated with Twitter, Weibo (and possibly other like Facebook, reddit) social platforms
- new crowdfunding business model:
-- users form a dev team, write and publish a project proposal on the portal (including what kind of "rewards" or results for stakeholders; i.e. source code, MED, services....);
-- a third party escrow team (rewarded in MED) is formed by the community to monitor the dev team and check that objectives are reached;
-- project is continuosly promoted through portal, social network tipbots and internet online advertising
-- stakeholders contribute with assurance contracts (mechanism already present in MED tipbots)
-- project develoment is done by dev team, escrow team checks and releases funds to dev team and/or as stakeholders objectives are reached;
- content comes in part as mash-up from social networks platforms (through MED tipbots)
- users can create their own MED Social account (i.e. as you say using one of their MED address)
- anti-spam technology using MED; possibly integrate in gmail
- market place for services, goods etc; including payment processing for merchants (not necessarily to host their websites on the portal)
- news site
- forums
- dedicated search engine for MED and cryptoworld in general
- MED online advertisement
- Peatio exchange
also, we want to explore geo-tagging with MED (and its services); i.e. I am working/tourist in a place, what is there related to MED? i.e. even taking a photo and tagging it with MED information can be used in some way... to be explored.
also, we think that a big issue today in ecommerce and b2b is the cost of transportation of goods; we see that there is an upcoming trend where a collaborative model for goods transportation is arriving... cryptocoins can help on this (i.e. escrowing)
And finally, a word on the African side; lot's of people try to immigrate to Europe, and find immediate difficulties because of very few jobs etc. Promoting MED to this people could be very useful for them; also cryptocoins are very good for money transfers, so refugees in Europe can be sent MED from Africa (or send MED back). This basically can be very simple to perform, just need good translations in the various African languages.
I translated this email and published on 8btc.com (One of important website in Chinese Crypto world)
