Bitcoin Moves Sharply Lower Again As Other Major ...

Dubai Announces New Partnership to Enable Cryptocurrencies as a Payment Method as Cryptocurrencies are slightly down

Crypto News
Sources:
https://www.ccn.com/takeoff-airports-plenty-interested-in-blockchain-applications-study-reveals/ https://www.coindesk.com/european-securities-regulator-to-report-on-ico-rules-by-2019/ https://cointelegraph.com/news/uae-securities-regulator-to-introduce-icos-for-capital-markets-in-2019 https://www.coindesk.com/internet-giant-gmo-to-roll-out-yen-pegged-crypto-stablecoin-in-2019/ https://cointelegraph.com/news/dubai-government-backed-digital-currency-will-get-its-own-payment-system https://bitcoinist.com/dubai-set-to-introduce-cryptocurrency-payments/ https://cointelegraph.com/news/cnbcs-ran-neuner-says-bitcoin-is-about-to-explode-points-to-pending-etf-decision https://www.coindesk.com/ibm-food-supply-chain-blockchain-carrefour-live-production/ https://cointelegraph.com/news/pwc-partners-with-decentralized-lending-platform-to-provide-expertise-in-stablecoin-launch https://bitcoinist.com/first-fiat-to-cryptocurrency-exchange-set-to-launch-in-singapore/ https://www.ccn.com/united-arab-emirates-to-approve-icos-as-securities-in-2019-to-boost-corporate-funding/
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Log of slack AMA with Status.im - @carlb (Carl Bennetts) and @jarradhope (Jarrad Hope)

boldninja Let's all give a warm welcome to @carlb (Carl Bennetts) and @jarradhope (Jarrad Hope) from Status.im.
dr10 Lol
carlb hey everyone
dr10 He guys
joelafc hey carl and jarrad!
welcome to ark slack!
michaelthecryptoguy https://forum.ark.io/topic/247/arkfuturesmartnode-1st-month-100-percent-giveaway (edited)
carlb pleasure to be here, thanks for having us :slightly_smiling_face:
tranzer hi guys welcome to ark
cointrader welcome @carlb @jarradhope
michaelthecryptoguy :wave:
joelafc lol michael
boldninja You can start asking questions - give them some time to respond if too much questions at a time :slightly_smiling_face:
beez Hello gentlemen
gmp oh yeah... I forgot there was an AMA today. Hey guys :fiestaparrot:
techbytes Welcome to the ARK Carl.
and Jarrad.
joelafc such extra
tranzer Status looks like a cool concept who do you see as your biggest competitior currently?
dr10 How would you explain status to someone who bought his first btc (and ark :joy:) 1 week ago? (edited)
jarradhope probably using https://www.youtube.com/watch?v=Je7yErjEVt4 YouTube Status Status, your gateway to Ethereum (The Status Network launches June 17th)
:smile:
dr10 Cant watch it now :sweat_smile:
cointrader @dr10 can watch it later :stuck_out_tongue:
tranzer Did you raise any funding yet for Status or offered pre-ico?
jakethepanda What gives the token value?
beez Whatever people are willing to pay for it.
dr10 What kind of partnerships and exchanges you can already share with us
carlb So Status is an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network.
The closest thing to compare it to is WeChat - the core difference being we're built entirely on peer-to-peer technologies. What we aim to provide is an easy way for non-technical users to begin using blockchain-based payments, and decentralized applications
In regards to funding - we've been completely self-funded up until this point. Jarrad & I have been business partners for ~6 years now, and are lucky to have capital from our prior ventures to fund this project.
(As of today we're a team of 12)
castro_saint Hi guys, on a scale of 1-10 how confident are you that the distribution dynamic ceiling method will help little guys like me participate in the ico?
dr10 What are the references for you and your team members? On what projects did you work before
bioly Does Status ICO have any min and max cap?
dr10 Do you expand ur team after ico?
beefrog quite the barrage of questions! haha
mike do you have developers working on the project already?
carlb @castro_saint 8. I feel confident our issuance model is a big improvement on the 'standard' to launch model. The outcome will almost certainly be a much wider distribution compared with other token launches. Of course, we certainly can't promise everyone will be able to participate - but what we can do is make it significantly harder for whales.
(for those of you wondering what Nathaniel is referencing https://blog.status.im/distribution-dynamic-ceilings-e2f427f5cca) (edited)
jarradhope @castro_saint I think we'll achieve a pretty decent distribution, it's hard to boil it down to anu mber since it's an experiment on a model not tried, but I feel 8 we'll achieve a better distribution than most, aside from the SGT holders themselves, just today we've made some modifications where we will limit gas price per transactions, introducing a preference period for SGT holders (which is about as good as we can get as 'identity' on short notice) into the initial ceilings, and we've also changed how ceilings work, now each transaction is only capable of getting 3.33% of the ceiling margin per block
mike thanks, carl, for taking the time to do the AMA for us.
michaelthecryptoguy For someone that doesn't use crypto currencies. What incentive or (bonus) will Status offer to make a user switch from a messaging app such as kik or facebook?
carlb thanks @mike! and yes of course - the best way to gauge that (and any project for that matter) would be to look at our repos on Github: https://github.com/status-im/status-react GitHub status-im/status-react status-react - a free (libre) open source, mobile OS for Ethereum
cointrader thanks guys for doing this AMA! really appreciate it!
jarradhope @dr10 yes we'll agrressively expanding, i've been on interviews today we'll have at least 2 teams of 3 for the dapps themselves, we're bringing on more Clojure & Go developers for the core application and we're looking for product managers. at the same time our core focus is to decentralise Status' development which is why we created commiteth.com our github bounty bot (edited)
carlb thanks @cointrader.
(@mike Commiteth intro post for reference: https://blog.status.im/introducing-commiteth-enabling-a-community-driven-development-model-52159984c531 ) (edited)
mike hi jarrad, very glad you could join us as well.
jarradhope happy to be here :slightly_smiling_face:
although i can't seem to type today
castro_saint It's probably ages away but do you have a target for when you plan to go to market?
jarradhope @castro_saint it depends on many factors, but I think we'll be able to consider initial user acquisition end of Q1, 2018
we do have to go through security audits which we hope to do sometime in Q3, and then it depends on how well that goes for the base client
castro_saint Wow that's quick
You mentioned limiting gas prices? Will you announce what the gas limit will be or will it be hidden?
dr10 Can status be used all over the world (like china) or does it have to fear censorship?
mward so the token will be relesed in Q3? or Q1 2018. Or After ico ends?
jarradhope @castro_saint that's for just the base client, it won't include the dapps and other systems in whitepaper will take us through 2019
although we should be able to get some MVP's demo-able on testnet first half of next year
@mward the token will be transferrable 7 days after the contribution period is finalised
dr10 Is status safe/secure/private? E.g. Not like whatsapp
jarradhope @castro_saint https://github.com/status-im/status-network-token/blob/mastecontracts/StatusContribution.sol#L39 GitHub status-im/status-network-token status-network-token - Smart Contracts for the Status Contribution Period, along with Genesis and Network Tokens
boldninja That dynamic celling is kind of hard to understand on a first read any TL;DR; for it?
dr10 As an end user what can i do with status token? Tell me some daily examples please (edited)
castro_saint Is there any specific dApp that you will focus on developing first or is that undecided?
dr10 What is your marketing approach to grow in this market with already established giants?
jarradhope @dr10 we use the Ethereum sub-protocol Whisper (SHH) not to be confused with signal, what's interesting about it is that it provides dark routing and is p2p, ontop of that it uses an identity based encryption scheme. We're also looking to introduced stronger forward secrecy which looks like will be an implementation of Double Ratchet and 3-DH. We won't make any claims it is secure until we've undergone security audits
cointrader hey guys i’m wondering - do you worry that the cost to use status will make adoption more difficult?
carlb @dr10 adding to Jarrad's point, we're also completely open source. What makes us different from WhatsApp for example (which is closed source and thus requires some blind trust), is we don't use a client-server model, instead each participant servers as a node on the (Ethereum) network.
@cointrader great question. I think this concern is valid, and more broadly applies to Web 3.0 itself - actions in this ecosystem cost very small amounts of money, rather than small violations of your personal liberties.
If you're not paying for a service, you're likely paying for it in some other way. Will the average person warm up to the idea of paying fractions of a cent from time-to-time? I think so, looking at revenue of the Google Play or Apple App Store there's certainly already a willingness to pay for centralised applications, and perhaps it'd be more common already if credit card processing wasn't so cumbersome and costly for merchants for small transactions.
The benefits that Status can provide will of course need to significantly outweigh the cost for for end-users, and while I'm biased, I would argue the use-cases and convenience of DApps will be superior to their centralized competitors (take Etherisc and Gnosis as two examples, and consider how they these may feel within a conversational user interface).
dr10 Can my status account with all private Data and pictures etc be hacked?
jarradhope @cointrader to use Status it's completely free, we're only making costs you already pay (by platform owners selling your data and serving you ads) explicit. There's nothing to stop a push notification provider offering to give you 'free' push notifications, for any reason, maybe even serving you ads.
@dr10 all your information is stored on the client, its on your phone, if that gets hacked, you have bigger problems. Although we'll store it encrypted of course, and later when we have light swarm clients, you could even encrypt and store your application database on Swarm, whether thats on a local node you keep at home, or in the swarm itself.
dr10 So status can be used worldwide without censorship? I can chat with friends in North korea or china?
joelafc hahaha
you have friends in north korea????
dr10 No. But an open social world is a game changer imo
joelafc yeah i get ya
jarradhope @dr10 in principle, yes. Depending on what influences are out there, they may have to compile Status themselves, but there is no servers that are required for Status' operation, if they can connect to the Ethereum network they will be able to use Status
joelafc sick
dr10 And imagine turkey president cant turn off the usage of status in critical situations
Nice
carlb @dr10 Status, like cryptocurrencies, are borderless. The case of North Korea is more complex, given the government will make it very difficult to obtain the source code or binary in the first place given the state of the internet there.
dr10 Okay
jarradhope nothing a concealed usb stick couldn't solve
castro_saint You said the market cap is definitely $200m but can you confirm if its under $1bn?
jarradhope wut?
carlb @castrosaint I think you may have misread? I said it is definitely _not 200M
dr10 Do you plan to go to bitcoin rsk or others too?
tranzer It is 199.9m :evil:
dr10 What happens to status if ethereum gets bloated and slows down etc
Like in bat ico
castro_saint Oh I thought you said it's definitely over 200m
cointrader castro_saint: no i think that was someone else and carl said no
jarradhope Ethereum Foundation is working really hard to make blockchains scalable, that's what Proof of Stake and Sharding is all about
dr10 Ok lets hope it
jarradhope on a scale on 0-10 my confidence is about 9 in them
1 to leave room for the unknown :slightly_smiling_face:
dr10 How do you get status to the billion Users out there
What will be ur arguments
myarkname Why there is a different time for the AMA session in here and in Twitter ?
joelafc asking the real questions
myarkname Also time conversion here is wrong
dr10 Most people dont know cryptos. even dont care for security or privacy (facebook) (edited)
cointrader dr10: that will come in time
carlb @michaelthecryptoguy So the question about overcoming established messengers is a good one. Long-term for mainstream adoption we need: 1. Lower transaction costs 2. Greater convenience 3. New use-cases not possibly without the use of a blockchain (Etherisc or Gnosis for example)
tranzer Do you have any partnerships already in the pipeline that you can reveal?
carlb @dr10 Ultimately we're building Status for the general public, but there'll be a number of market segments that we'll focus on first as we work towards this goal (not to mention Ethereum's network needs to be ready for this first).
The logical progression from the Ethereum community would be to the greater crypto space, followed by privacy conscious groups and libertarian groups. While this is far from 'mass adoption', the success of apps like Signal and Telegram (each with tens of millions of users, and whose core marketing messaging is privacy) serves as a testament to how deeply this resonates with a small, but growing percentage of the population in many markets.
Beyond this, we can begin creating custom marketing campaigns and custom on-boarding sequences into Status for specific DApps we believe we can get users for (DApps are really the core value-proposition). It's worth noting here from a user acquisition perspective there are only a few key metrics - retention rates are the big one early on, and realtime bidding platforms (DSPs) make this very much a data driven approach. In our experience once you find some pockets of high converting users you can scale very quickly.
Looking further ahead I'd love to see Status bringing access to financial tools and services to emerging markets, but these are complex problems and often mobile data costs are a hurdle to adoption. I suspect this would require working more closely with communities and mobile carriers, which also we're prepared to do.
rhmral How many users would you consider a succes in the first 2 years?
pronto is this AMA time?
jarradhope Carl and I come from a background in software distribution, for 3 of the 6 years working together we ran a distribution network, within that time we were able to drive 20M installs, and thats how we've been able to self fund Status' development so far
rhmral Good job! But are you guys aiming at mass adoption? Or looking for a niche market with a few million users?
carlb So yes, you're completely right, the majority of the population don't care about security, privacy or blockchain (although these groups are certainly growing), but with what we're building, and the flexibility of Ethereum provides they don't need to.
For example we're in discussions with a London-based startup working to create GBP (£) as an ERC-20 token. What this would mean is Status users could be using a wallet with fiat-currencies (using the Ethereum Network), without ever knowing they're using blockchain technology.
mike will you have in-app payments?
dr10 Will you offer streaming Services, video chat etc? How costumized can I create my status feed? Twitter, facebook and instagram, whatsapp, telegram all have their key differences in what kind of postings and information they "feed" their users. What is your key focus?
jarradhope @rhmral I think with the Status Network, we are giving the users of Status an economic stake in Status' success, I think this will drive network effects stronger than ever before, I think for mass adoption we shouldn't even be talking about crypto arguments, just like how you don't need to know TCP/IP or HTML to browse the web, with stable coins users won't even need to know they are using crypto under the hood
carlb @mike Yes, Status let's you send payments to other Status users (today you can do this using testnet ETH and we're working to add ERC20 support), so you'll be able to send any type of digital asset on Ethereum from within a chat.
It also has a built in wallet. So in that sense we're providing a mobile banking experience built entirely on p2p and blockchain technology.
jarradhope @dr10 the Swarm guys are working on video conferencing, when that seems stable we intend to bring that into Status
@mike sure, you can send eth in status chats right now, and soon erc20 tokens - we aim to be a hybrid dapp browser (like mist or metamask) and messenger, on a mobile device
mike Swarm fund - Joel and Phillip?
jarradhope No, Swarm the other Ethereum sub-protocol
carlb @mike no, Swarm is an Ethereum subprotocol, a bit like IPFS. (a decentralized dropbox is sort of close comparison)
@mike https://github.com/ethersphere/swarm GitHub ethersphere/swarm swarm docs
mike ok, thanks. nice!
i'm involved with swarmfund, hadn't seen video conferencing, now see differentation.
okinawa do you guys have like a bounty program?
jarradhope http://swarm-gateways.net/bzz:/theswarm.eth/ swarm-gateways.net Swarm Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference.
mike thanks for link
carlb @rhmral Long term absolutely. We're not aiming for a niche market - but it certainly makes sense to focus on a smaller market first, until the underlying technology and the ecosystem of decentralized applications is capable of handling widespread adoption.
rhmral @carlb That sounds reasonable
carlb (right now we have ~7k users on alpha, and 16k people total who signed up to try the beta)
Note though on iOS we're still on TestFlight, which has a hard limit of 2,000 users.
jarradhope @okinawa we have SGT which is similar https://blog.status.im/distribution-dynamic-ceilings-e2f427f5cca and we have commiteth.com which we'll be creating bounties for open source code contirbutions (edited)
techbytes Are you guys planning on supporting other blockchains or will this be only for ETH ecosystem?
dr10 Do you see steem as a competitor or are you completely different? Like comparing reddit to facebook
carlb @dr10 I see steem as a very different product.
dr10 Ok
What is ur marketing phrase for magazines and new customers
:joy:
jarradhope @techbytes Ethereum is going to be our bread and butter, if we can do light clients for other chains in a resonably non-resource intensive way and still maintain decentralisation, we'd certainly be open to it
techbytes You could work with ARK to connect all other blockchains... :wink:
joelafc yes please
carlb As for partnerships announcements someone asked earlier, more recently we announced:
Aragon - create and manage a decentalized organization from your mobile. (https://cointelegraph.com/news/aragon-partners-with-statusim-to-hook-23-bln-smartphone-users)
Bancor - issue your own currency or tokens (https://blog.status.im/issue-your-own-tokens-from-your-smartphone-552c6696eaba)
We do a lot of BD and work with most Ethereum-DApps. We do have an announcement next Wednesday but that will have to wait :slightly_smiling_face:
But will (once we're on mainnet) allow users to spend their ETH and digital assets in their Status wallet, from anywhere Mastercard is accepted. (edited)
techbytes Looking forward to that announcement
tranzer Those investment (celling) stages. Any info on maximum ETH per transcation or will that be hidden as well (or at least like range) ?
carlb To answer an earlier question. What can you do with Status today? Well we're on Testnet, but you can:
rhmral That sounds promising @carlb !
carlb We're also running a Hackathon right now (http://hackathon.status.im/) which ends on Saturday (winners announced on Tuesday), and we hope to see some fun experiments and use-cases explored. hackathon.status.im Status $25,000 Global Hackathon The Status Global Hackathon is a week long event from June 3rd to June 10th, with $25,000 in prizes to be won for the best DApps created.
beefrog Nice to see a team spending money before they ask for money. Great stuff
cointrader @beefrog yes i agree, i’m very impressed by the work that’s already gone into this. more than i expected actually
tranzer Me too I got convinced today I'm investing some, hope I'll be able to get in
techbytes Any more questions?
cointrader nice to see a popular github repository for a project :joy:
jarradhope thank-you very much :slightly_smiling_face:
techbytes Glad you guys stopped by today. Didn't know anything about Status until now.
mward :clapping: well done guys
jarradhope thank-you for having us!
boldninja Thanks carlb and jarradhope for taking the time for this AMA - it was really informative, hope in the future Ark and Status will collab :slightly_smiling_face:
good luck with the sale and that everything goes smoothly
joelafc thanks guys
good luck and godspeed
mward :takemymoney:
rhmral Best of luck with your project!
cointrader Thank you guys, great AMA! Good luck :nyangif:
dr10 Good luck and thanks
mike yes, thanks for taking the time to do the AMA, very much enjoyed having you here and learning about Status.
joelafc yeah it was truly a good AMA
detailed answers
jarradhope long live the ARK!
joelafc HAHAHA
jarradhope (and Status also)
okinawa thanks
kiss kiss
joelafc :evil:
okinawa :heart:
dr10 :grin:
mward :flyingcash:
cointrader party time :boogie:
carlb Thanks for having us guys! Any other questions feel free to come ask on our Slack (I'll try check in here too). And also have a look through our blog - https://blog.status.im/, we often do interviews with other projects we're working from within the Ethereum ecosystem, which will provide a clearer picture on where this is all heading. (edited)
jarradhope alright was fun to be social for a little bit, back to the salt mines for me :wink: will be hanging around though, cheers and ciao! :slightly_smiling_face:
cointrader Actually before you go, could you tell us how you’ll be able to use Status in the future?
jakethepanda They will also continue to answer questions in ARK's Reddit.
beefrog Wheres the Canna ETH comments? Its all im here for haha jk
carlb @cointrader sure, our whitepaper is probably the best resource for that, but I'll provide some examples here too.
@cointrader The end goal is to have Status being self-governed entirely by its users, and have its users steer the direction and development of the project.
Ultimately we aim to be a portal to interact with Ethereum and DApps, and as the ecosystem matures, this will lead to some really interesting functionality.
So for example: - Replacing your wallet entirely. Use Status to pay for everyday transactions without any knowledge of the blockchain being required at all (initially using a debit card that's linked via the upcoming partnership), but in time from the device itself.
Admittedly this depends on other projects creating fiat-backed ERC20 tokens, but also projects like Digix. For example some users may use Status as a store their Gold tokens, and use entirely Gold as their payments, or perhaps a portion of their stock portfolio for everyday purchases.
dr10 Would someone pls copy the whole ama into a txt file and send to jarunik?
carlb Also there'll be many fun, novel use-cases which will appeal to a very wide audience. Example I may be chatting with a friend, and from within a chat we decide to place a bet on the outcome of a sports match (or any event for that natter). It'd be completely automated with AuguGnosis.
But the most exciting for me is working towards infrastructure that moves away from a client-server model and towards permissionless and decentralized systems.
I'm off guys, past midnight here in Singapore, thanks for your time and questions :slightly_smiling_face:
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Bitcoin: Beyond The Bubble - Full Documentary - YouTube Flow Magazine Flip Through Issue 17 Savage 93r17 hmr magazine issues - YouTube My Seventeen Magazine Issue! Magazine B 17th Issue: PORTER - YouTube

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Bitcoin: Beyond The Bubble - Full Documentary - YouTube

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