Quote from: chocobo on October 26, 2015, 11:16:15 PM

Quote from: Netzer on October 26, 2015, 10:30:18 PM

Quote from: iotatoken on October 26, 2015, 09:47:17 PM

We are basing our entire start-up around IoT, which we've been working on in stealth for a year, as explained in OP this is what prompted us to develop IOTA. It is a necessary ingredient for the vision of IoT that our start-up is focused on. On top of this all of us will invest our personal funds into IOTA, so no we have a ton of incentive to make IOTA a success.

I've copied this from the IOTA thread. The competition is on. I hope our GadgetCoin will win the race.

I read the whitepaper for IOTA and......unless they have something up their sleeve we have little to worry about. It honestly looks like a scam to me.

Last year - the same time when this project GadgetCoin started - there was the Bitbay scam with the IoT label. It turned out David and Bitbay had nothing to do with IoT. They of course collected 1 million dollars and it was the biggest scam of 2014. This year IOTA put the IoT label on the coin, but there is no business plan how they actually make money from IoT. As I posted above, they will collect 1 million dollars and that will be the end of the IoT story. Perhaps the IOTA tangle thing will be a success, but IMHO they will make precisely ZERO dollar revenue from IoT. The IoT label need to present the money collecting ICO with a popular subject.
I currently have investments in 3 real world UK based IoT businesses, plus this GadgetCoin IoT investment. My first experience with IoT businesses was years ago. I admire the ambition of IoT startups, but I fully agree with mtomcdev: an Internet of Things business is far more complicated, far more difficult and far more work than people think.