For the price of bitcoin, the summer was anything but smooth. Markets boomed on news of 'the Brexit', tapered off through the long-awaited halving and tumbled on the news yet another exchange had been hacked. Since then, the price has fluctuated between $550 and $600, returning to the "relative" calm observed earlier in the year. But given bitcoin's historical volatility, analysts are already beginning to question what may trigger bitcoin's next big price swing. As we head into the fall and winter months, a diverse set of theories are beginning to emerge about conditions that could either boost the price, or see it return to its 2015 lows. Institutional approval Among the potential triggers cited by analysts, the emergence of a bitcoin exchange-traded fund (ETF), an investment vehicle that generally tracks a basket of stocks or commodities, was perhaps the most often discussed. Many market observers have been watching the status of two proposed ETFs with great interest, but for a while, there wasn't any reason to hope for developments. However, excitement for a potential market first has grown in recent weeks following the July announcement of the SolidX Bitcoin Trust and amid new filings by the Winklevoss Bitcoin Trust. The approval of either could represent a milestone for the bitcoin community, analysts say, as the ETFs would enable authorized participants to issues shares tied to real bitcoin holdings, which could be a catalyst for new liquidity. Daniel Masters, director of Global Advisors Bitcoin Investment Fund (GABI), noted recently that many commodities have enjoyed sharp increases in price and more robust trading activity once ETFs based on the underlying assets hit the market. He wrote in an August blog post: "From the early 2000s onward, there was a proliferation of ETFs covering all manner of commodity interests. In each and every case – for gold, silver, oil, natural gas, platinum, copper and even indices – the advent of the ETFs led to higher prices, more trading volume of futures and cash exchanges and higher levels of commodity futures open interest." Should either ETF receive approval, bitcoin could enjoy a notable increase in liquidity. It was this variable that Du Jun, co-founder of Chinese exchange Huobi, singled out as potentially driving the digital currency's price higher. "Bitcoin's liquidity depends on the future of bitcoin's value and investors' expectation to a large extent," Du said. Technical improvements Yet another potential boost for the bitcoin price could come in the form of a long-awaited resolution to the "scaling" debate. Currently, blocks of transactions on the bitcoin blockchain have a storage size of just 1MB. As this puts a limitation on the number of transactions the network can process (and therefore, some argue, adoption), there has been a sometimes messy and contentious drive in the community to change it. But due to the tricky specifics of how a change to this hard-coded limit would need to be enacted, no consensus has yet been reached. Still, that doesn't mean solutions aren't on the way, the most notable of which is Segregated Witness (SegWit), an upgrade that recently saw a preliminary code release. While promising for the network, though, analysts seemed less enthusiastic about SegWit’s potential impact on bitcoin prices. Cryptocurrency investment fund manager Jacob Eliosoff, for example, said investors have likely already priced in the coming change as it was announced in December and originally expected to be deployed in April. "SegWit's release seems too gradual and widely expected (not to say overdue) to really bump the price," Eliosoff said. Tim Enneking, chairman of investment manager EAM, struck a similar tone, adding: "I don’t think SegWit will have anything more than an incremental and marginal impact on BTC prices, at least in the short term." Post-Halving pressures In one of the more unique claims, investor and entrepreneur Vinny Lingham singled out the halving of rewards on the bitcoin network as a potential influence. The prediction may be surprising given that a planned technical change the reduced the mining reward from 25 BTC to 12.5 BTC took place earlier this summer, largely without fanfare. But while bitcoin prices experienced little change this July, Lingham asserts its true impact has not yet been felt. In the next two-to-four weeks, forces resulting from the shift could cause the digital currency to surge, he said. As detailed in a recent post, miners who aren't turning enough profit, he contends, may soon be forced to buy bitcoin from exchanges, an event he said was likely to trigger a "short squeeze", or a sharp increase in the price based on the lack of available supply. He wrote in May: "It’s the same as selling crops in the futures market and then being hit by a storm that wipes out half of your fields. The only way, technically, that this doesn’t happen, is if the price doubles on halving day (it won’t)." Financial (in)stability Finally, some predicted bitcoin's next major price event would be dependent on the stability of the global financial system. Traders have repeatedly flocked to the digital currency in times of crisis, leading many market observers to label it a risk-off asset or even a "digital gold" that appeals during times of economic stress. In the past, bitcoin has benefitted from situations such as the 'Brexit', as well as during periods of economic volatility in Greece and Cyprus. It remains debatable how much of these increases is based on real capital flight, but there is still widespread belief that such events could come to be a powerful influencer going forward. Huobi's Du spoke to this matter, telling CoinDesk that when the global financial system experiences volatility, investors will "look for more safe-haven investments" like bitcoin. Another variable remains government responses to the digital currency. If major countries accept bitcoin, analysts said, it will affect both the currency's trading activity and value. Source: coindesk.com If you are interested on bitcoin trading visit our website Houbi.com. We are one of the largest BTC-USD, BTC-CNY trading platform in the world. HUOBI OFFERS FREE BTC-CNY/LTC-CNY TRADING, 24*7 CUSTOMER SERVICES AND SECURE PROTECTION FOR USER ASSETS. Welcome to trade on HUOBI.COM! 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Project Team The EOSex team brings together professionals from the fields of the blockchain, finance, IT, and law, backed by solid financial support, to create a fast, secure, open, self-governing, high-performance, transparent, community-based global digital asset trading platform. Technical Team: Our core technical team is comprised of exceptional individuals from well-known companies such as Facebook, Huobi.pro, ZGB.com, and Tencent, while our security team comes from the Shanghai Stock Exchange. Our CTO, Leo Yang, has over 12 years of in-depth experience across all of the above-mentioned fields. Indeed, our technical team has already proven fully capable of developing cutting-edge technologies, having successfully developed Liquidity-Box, having created on-chain trading pairs in just one week, having implemented EOSBET Dice. There can be little doubt that EOSex is in good hands with such an experienced and capable team. Operating Team: Our operating team is truly global, comprised of nationals from over 10 different countries and regions. Our operating consultants come from industry heavyweights, such as Dji and TRX. Our CMO, Vicky He, is well-established in the blockchain field, having worked on a number of successful blockchain projects, and using her extensive marketing experience. COO, Ruch Lee, has worked with Citibank in its Investment Department and is a serial entrepreneur. CEO, Sean M. King, is a well-known blockchain leader in the Asian region, is active in developing blockchain projects across Asia, including serving as Waves Platform Community Manager for Taiwan. With such an experi- enced and diverse operating team, EOSex is well on its way to becoming a global platform for trad- ing in quality digital assets. Legal Team: CEO, Sean M. King, has over 20 years of legal experience in the Asian region and served as Senior Steering Committee Member for Taiwan’s Blockchain Self-regulatory Organization, and was a member of the Working Group under the SRO that drafted the Code of Conduct for all digital exchanges in Taiwan to abide by. Core Team: Sean M. King: CEO Linkedin: https://www.linkedin.com/in/sean-m-king-a333611/ •Experienced country manager and entrepreneur •20+yrs experience in law (PE, M&A, JV) and finance (hedge funds) in the Asian region •A key community leader in blockchain and cryptocurrency, par- ticularly in Asia •Startup mentor and leader in the Asian startup community •Member of Taiwan Blockchain SRO Senior Steering Committee (Including Digital Exchanges Working Group) •Special Cryptocurrency and Blockchain Advisor to Taiwan Con- gress The Exchange for the EOS Community RUCH LEE: COO Linkedin:https://www.linkedin.com/in/ruch-lee-7a5089152/ •master’s degree in financial engineering from Technical Univer- sity of Berlin •Worked for Citibank Investment Department, Led a USD1billion fund •Served as CEO for his own mid-sized startup •Invested in several successful ICOs between 2015 and 2018, e.g., NEO, ADA, OMG •Currently also operating a cryptocurrency quant hedge fund LEO YANG: Software Architect Linkedin: https://www.linkedin.com/in/leo-yang-36969a172/ • Fluent in multiple programming languages(Java/Node.js/Gol- ang) • 12 years of project management experience and extensive team management experience • Familiar object-oriented programming concepts and function- al programming • Enjoys working on open source architectures and other cutting-edge technologies Other Team Members: Daniel Chen: Blockchain Project Manager Linkedin: https://www.linkedin.com/in/daniel-chen-901a39164/ • Core early community member of Monero • Independent Monero mining pool operator •Unique knowledge of blockchain protocols, also well-experi- enced in Golang, C++, JAVA Eric Hoo: (Hong Kong) Product Manager Linkedin: https://www.linkedin.com/in/eric-hoo-4024aab7/ • City University of Hong Kong • Co-Founder of Tankura online platform • Extensive experience using technology for business growth and customer retention International Marketing Team： Lok Pan: (Australia) Linkedin: https://www.linkedin.com/in/lok-pan-83480416a/ •Honours Degree, UNSW •Worked on two successful ICO campaigns in Australia Hasan Basri CENK(Turkey): Linkedin: https://www.linkedin.com/in/hbcenk/ •Master’s Degree in Entrepreneurship from Özyeğin University •Extensive experience in the blockchain field Oleh Khoroshko (Russia): Linkedin: https://www.linkedin.com/in/oleh-khoroshko •Serial entrepreneur, former police officer. •Currently, the CEO of Agrostockexchange.io, an ambitious project aimed at solving the problem of global food security. •Crypto enthusiast since 2015. As a member of Bountyhive.io team, helped to launch their own token to the global cryptocurrency market for more than 70+ projects (The most famous of them today are Dropil, Bittwatt, Robotina, Bob’s Repair, CyClean, 4NEW, Bitcoinus, Mossland, Kora). •Strengths: Strategic planning, Project management, Fiscal legalization. Advisor Tarek Hamed(Marketing Advisor) Linkedin: https://www.linkedin.com/in/tkhamed/ -Involved in crypto-currency since 2013, which is the “Silk Road”, which would lead to Bitcoin and the first explosion of growth for the industry. -Early investor of Ethereum -Founder of Coins Source Inc., which was a pioneer in the digital currency space, providing project rankings, alt-coin news, developer vetting using the Trust Index, which later became an industry standard. -Active member on Bitcointalk.org forums and within largest crypto com- munities on Telegram and Discord. -Served as advisor on multiple token projects. #Eosex #eos https://www.eosex.com
I like you guys the most because you're a BCORP with a great purpose, but what does your organization do better than the competition? Thank you.
Thank you for your kind words about our B Corp status, it’s something we pride ourselves on at Left and RightMesh! For those who are not familiar, Left, the parent company of RightMesh, is a certified B-Corp and has won numerous awards for community engagement and corporate culture. B Corps are for-profit companies certified by the non-profit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. As a certified B Corp, Left is committed to doing business “right” – for the good of all. There are over 2,400 B Corps in over 50 countries, covering 130 industries. Some notable B Corps include Ben & Jerry’s, Warby Parker, Patagonia, Etsy, Plum Organics, and of course, Left!
We believe there are several differentiating factors about RightMesh, spanning from our organization to our technology. These include:
Our Culture and Values
Team Expertise (Executive Team & Advisors)
Culture & Values:
Left’s founders, Chris Jensen and John Lyotier, had a dream to create a company built on core values and an anything-is-possible attitude that can make this planet a better place. We have been recognized as the “Best Employer in BC (British Columbia, Canada)” by Small Business BC, and we are a two-time winner of the BC Tech Community Engagement Award. All employees get to participate in our “Dream Program” in which the company supports us to fulfil our personal dreams and ambitions, and we are given unlimited work hours for volunteering in our community.
The RightMesh team consists of over 100 PhDs, Scientists, Developers, Entrepreneurs, Business Strategists and other experts who have in-depth expertise in Mesh technologies, blockchain and building successful businesses.
RightMesh has offices in Vancouver, Canada and Khulna, Bangladesh. We also have project contributors and partners working from Zug, Switzerland and Los Angeles, United States.
A key differentiating factor is the fact that our team has strong experience in scaling teams which will be extremely important to the success of RightMesh in the future following our TGE.
Executive Team Overview
John Lyotier, Co-founder and CEO Co-Founder & CEO, RightMesh. John is one of the co-founders and is a key contributor to the global strategy, vision, and technology roadmap for RightMesh, its parent company Left, and all its subsidiary brands. John is an entrepreneur and a successful marketer with more than 20 years of experience in promoting, launching, designing, and jumpstarting new businesses and products through innovative marketing concepts. Under his leadership, the parent company, Left, has gained a national reputation as being a “Best Workplace” award winner while being the first back-to-back recipient of the BC Tech Association’s Tech Impact Award for Community Engagement, recognizing the best company in BC for balancing “Work, Life, and Play”. With RightMesh, he is focused on bringing connectivity to the next billion.
Chris Jensen, Co-founder and COO Chris began his career in the UK working for multinationals and banks and continued in the banking and brokerage industry upon moving to Canada. He has a strong understanding of the finance markets and has lived the pain of raising capital for early stage companies during the beginning stages of growth, from 25 to 80+ employees. He has founded several start-up companies in his career. In his role as CEO for Left and COO at RightMesh, Chris thrives on understanding the big picture and on moving the levers that drive the company forward. This includes financing, strategic partnerships, and corporate development. Chris holds a BSc (Honours) in Economics and History from Queen Mary University of London.
Dr. Jason Ernst, CTO and Chief Networking Scientist Jason holds a PhD in the field of Mesh Networking and Heterogeneous Wireless Networks as well as a M.Sc. on Scheduling Techniques for Wireless Mesh Networks, both from the Applied Computing faculty at the University of Guelph. An adjunct professor at the University of Guelph, Jason has more than 30 published papers on wireless networks, cognitive agents, FPGAs, and soft-computing topics and has presented his research at international conferences around the world. Jason is the only Canadian member of the ACM Future of Computing Academy and a member of their executive committee. Prior to joining Left, Jason was the CTO of Redtree Robotics, which designed robots that made use of multiple radio technologies to ensure pervasive connectivity to each other and their operators.
Dr. David Wang, Applied Research Engineering Scientist Dr. Zehua Wang is the Chief Micropayment Scientist at RightMesh. He received Ph.D. degree from the University of British Columbia (UBC), Vancouver, Canada. He received his master and bachelor degrees in Computer Engineering and Software Engineering, respectively. He holds a research fellow position in UBC. He has published more than 30 peer-reviewed book chapters and papers in topics of mobile ad-hoc networks, blockchain technology, the Internet of Things, and the fifth-generation wireless networks. He has expertise of using optimization and game theories to solve economic problems. He was a recipient of Four-Year-Fellowship and awarded the Graduate Support Initiative Award at UBC. In industry, he has about 10 years experiences of software development. In academia, he served as the technical program committee (TPC) Co-chair of IEEE International Workshop in Smart Multimedia and TPC members in many international conferences, including IEEE ICC, IEEE Globecom, and IEEE VTC, etc. He is a member of IEEE.
Saju Abraham, Chief Product Officer Saju is a seasoned professional in the realm of mobile and wireless technologies having worked with customers, partners and teams across 19 countries in organizations such as Lucent Technologies, Movius, NEC, OnMobile and Telefónica. His passion for building great products stemmed from his multifaceted experience as a software engineer, architect and product manager, and he currently thrives in bringing multiple cross-functional and cross-cultural teams together to cohesively execute the product strategy for RightMesh. His credentials include a Bachelor’s degree in Computer Science and Engineering and a Postgraduate degree in Management from the Indian Institute of Management, Bangalore.
Melissa Quinn, Corporate Development Manager Melissa’s passion to empower people to be their best selves is why she has immersed herself in the blockchain, cryptocurrency, and mesh technology world. Heading up Corporate Development for RightMesh, Melissa works closely with the team while constantly seeking Partners, Advisors, and other game changers who are aligned with our vision. She has a BBA from SFU, a background in HR, and a strong desire to put innovative technology at the forefront of doing business as a force for good.
Rakib Islam, Co-Founder and CTO of Left In his role as CTO, Rakib sets the pace for Left’s application development initiatives, including key recruitment of engineering and mobile technologists. Rakib leads Left Technologies Pty Ltd, Left’s ISO-9000 certified subsidiary in Bangladesh. An active member of BASIS (Bangladesh Association for Software and Information Services), he frequently travels abroad to present an example of the ‘new’ Bangladesh and speak about economic empowerment. Rakib’s credentials include a Master’s Degree in Computer Science and Applications from Pune University, India, as well as being a participant in the US Department of State Professional Fellows Program for Young Entrepreneurs at the University of Oklahoma.
Tracy McDonald, Director, Talent & Culture With over 10 years working with people to grow their potential, Tracy is passionate about creating dynamic teams that facilitate business growth and positive culture. As an early Lefty, she was instrumental in scaling up the team to over 80 people, without losing the culture that makes Left special and unique. Tracy’s coaching and development work with the Lefties has been recognized with many awards including “Best Workplace in BC” and Community Engagement Winner from the BC Tech Association. Her dedication to making Left a premier workplace, was further recognized when Left became a certified B Corporation. Tracy’s belief in the potential of people allows her to lead with compassion, integrity, and trust. She earned her Bachelor of Science from Simon Fraser University.
Dana Harvey, Chief Communications Officer Dana harnesses the power of words and technology to engage audiences and compel them to action. As a communications professional with 25+ years’ experience in global markets, Dana combines strong strategic skills with out-of-the-box thinking and the unique ability to craft omnichannel content that resonates and inspires. She has helped large corporations like Nortel, Motorola and IBM develop new markets, managed an international advertising agency, and guided multiple businesses to success through her own communications consultancy. Dana is also an experienced public speaker, passionate about sharing her knowledge and motivating audiences. As an advocate for the full participation of women in all communities, she is especially interested in exploring the positive social and economic impacts RightMesh will bring to women in developing nations and around the world. Dana is co-founder of the Women’s Collaborative Hub, an organization that empowers youth and women from diverse backgrounds. Her credentials include a BA (Honours) in Communications and a Post Baccalaureate Masters (Dean’s List) in Asian Management.
Alyse Killeen, Executive Strategist Alyse is Managing Partner of StillMark Co. and StillMark Capital, and is one of the very first traditional venture investors to participate as an investor and advisor in the blockchain and cryptocurrency ecosystems. In 2015, the UN Foundation named her a Top 70 Bay Area Digital Leader, and in 2016, Singapore University of Social Sciences (SUSS), a university under the ambit of Singapore’s national Ministry of Education, appointed Alyse as a Fintech Fellow. In 2017, International Business Times (IBT) recognized Alyse’s contribution to the development of the blockchain ecosystem by including her in the 4th position of IBT’s “VCs Powering the Blockchain Boom” List, following Tim Draper, Mark Cuban, and Naval Ravikant of AngelList and MetaStable. Alyse has presented internationally, been featured in many reputable publications, authored a book chapter in the award-winning Handbook of Digital Currency titled “The Confluence of Bitcoin and the Global Sharing Economy”, and in 2017 contributed to the next book in the series, Handbook of Blockchain, Digital Finance, and Inclusion (2017), co-authoring “Global Financial Institutions 2.0” with Dr. R. Chan of the World Bank. In her role as Executive Strategist, Alyse consults with the executive team, including on the development of the team’s network within the blockchain community and introduction to ecosystem leaders.
Our advisory team consists of advisors who believe in the long lasting success of the project. They have been carefully selected to help built RightMesh over multiple years of operation and are not involved solely for the token generation event.
Boris Mann, Co-founder, Frontier Foundry Corporation
Daniel Gillis, Associate Professor, Statistician, Director of PSEER
Academic research has been core to the design and development of RightMesh thus far, and will continue to be a key driver for us in the future. RightMesh works closely with Universities on academic research on mesh networks, blockchain technology, and payment channels. We are working on research with the University of British Columbia on density simulation and payment channel development. Since early 2017, we’ve been conducting research on mesh networks and connectivity in Arctic / remote regions with:
Labrador Institute at Memorial University
University of Guelph
Town of Rigolet
We've received grants from NSERC, MITACS and CIRA to support pilot programs thus far and are submitting a MITACS cluster grant to support over 100 graduate student units over the next 3-5 years. This research covers everything from how to design relevant mesh apps in the communities the mesh is operating in, to performance evaluation of the network protocols, to scalability of micropayment channels.
It is also important how the mesh is designed for scalability reasons. Most mesh networking solutions are built around a store and forward and broadcast mechanism. This mechanism is not scalable and congests the network causing complete breakdown of the network. Even a small amount of devices can quickly cause exponential traffic resulting in extremely high delay and low effective throughput for apps running on broadcast protocols. In the RightMesh network, devices directly communicate with another device, and make smart routing decisions along the way.
RightMesh implements autonomous role topology/mesh creation layer - which means devices in the RightMesh network will autonomously detect each other and connect - user intervention in the network role is minimized .
Other key tech differentiators include:
We don't broadcast data. We compute a route between devices. Our protocol was built to use multiple paths (most use a single path and have long recovery times on a broken connection). The RightMesh network protocols can failover, or use multiple paths at the same time. RightMesh doesn't require the phone to be rooted. RightMesh doesn't require extra hardware. RightMesh can share existing Wi-Fi or Cellular Data, many others can only share Cellular Data.
Messages can be delivered further offline with multi-hop connections.
Uses Wi-Fi, Wi-Fi Direct and Bluetooth
Optionally uses the internet as well to increase the size of the mesh network, and the range of message delivery
Incentivizes users with RMESH tokens to use the network
Uses Ethereum blockchain to create a unique identity for each user
Partners & Affiliations:
Blockchain for Social Impact Coalition (ConsenSys led initiative)
BC Tech Association
Answer provided by the RightMesh Team
Hello, First, congratulations on the big idea! I'm definitely a supporter. (1/2) My question is how far are you into testing your mesh network?
Thank you! We’ve spent the last 1.5 years or so building the protocol stack from the ground up, and so most of the testing that has been done has been around testing the functionality of the stack - including node discovery, single-hop and multi-hop communication, multi-path routing, forming mesh networks with heterogeneous wireless links, and app integration.
And over time, we steadily have been improving our end-to-end reliable communications protocol. The protocol originally achieved somewhere on the order of a few kbps when we first started because we did e2e acks on every packet. We have since moved to sliding window and selective ack mechanism which has allowed the performance to climb closer to the Mbps range. However, we still have more work to do in order to achieve the theoretical maximums of the individual links (and even faster if combining links).
In terms of testing of the scale of a RightMesh network, we've tested with up to 10 hops on a single path, but can likely support more. Right now the largest offline mesh we've had is 30 devices, limited only by the number of devices we had available at that moment in time.
Building a performance evaluation framework is one of our next immediate and important tasks, where we can evaluate the performance of the network under various test conditions - for example how the network behaves based on density, and how does the number of hops impact the response time and data that flows through the network.
(2/2) Can I assume I'll only be able to participate if I'm in the surrounding locations? For example: Someone in Indonesia is using RightMesh to try and connect to the internet. Is there a possibility for me to help them if I live in a different country? Thank you and keep up the good work.
To be a participant in a RightMesh network, you will have to be in close vicinity with another RightMesh powered node (smartphone) in order to be connected to a network. However, it will be possible for community members to operate devices that provide a “superpeer” layer. These would be fixed nodes with stable, reliable, and ideally fast internet connections. They would provide relaying between different geographically separate meshes - for instance between two neighbourhoods that are too far apart for one mesh to cover them both. They would be required to provide tokens in order to facilitate the channels that need to be made between the buyers and sellers. This would allow them to charge a fee for having their tokens locked up in the channels.
We will also open source the superpeer, so people will be able to work off our reference superpeer implementation and build their own custom superpeers. This would let them control the strategy the superpeer uses to allocate tokens into channels. We expect to have a release of the superpeer which supports payment channels by next week. At this point in time the solution is proof-of-concept stage, but some testing has been done to support two meshes communicating with each other through a superpeer where the data seller in each mesh is compensated by buyers in each mesh.
Answers provided by Dr. Jason Ernst, CTO and Chief Networking Scientist & Saju Abraham, Chief Product Officer
What do you see as the biggest challenge with taking your technology to market and hitting your usegrowth targets?
Density is the biggest challenge of mesh technologies, and one of the reasons why token economies are required to incentivize users to share their signal when it is available.
We are looking to bring in users into the RightMesh ecosystem through the work they do in the network, and provide them economic incentives that will encourage further action. What defines work? Being a part of a relay node in the network for instance - that reduces barriers to entry. Or incentivizing users for taking actions in the app or to consume content such as ads. The more opportunities there are for users to earn, the more people that will join, the more developers that will join the ecosystem, leading to more opportunities, and the network effects loop should grow stronger.
There isn't really a theoretical limit. We don't have any hard caps on devices in our code, however locally there may be limitations from individual phones. For instance, I've seen some phones in hotspot mode which only support 6 clients connected to it. On other phones sometimes, as few as 3-4 BT connections. So there are some constraints on the topology and the maximum number of connections one device may have, but it is limited more by the devices, the chipset and Android, rather than our software. We can also get around some of these limitations still using our switching technology, however, this will have a noticeable impact on delay.
(2/3) Does the transfer rate for users slow as the mesh size increases?
This is less a function of the number of users, or devices, and more a function of the demand on the network. A network with many devices and few users actually requesting traffic may perform better than a small network where all of the users are requesting lots of traffic. There is some overhead in the protocol to maintain the connectivity of devices, however this will be minimal in impact compared to the load of traffic from all of the devices. It also depends on where the traffic is going. If it internal to the mesh it may be possible with a dense mesh that RightMesh could support high throughput internally. The bottlenecks would likely occur in cases where there is lots of traffic which requires the Internet, and there are too few people willing to sell or donate Internet data into the network. Compared to other meshes howevever because RightMesh can support multiple paths, we can split the load across all available Internet connections rather than doing something more naiive like rely only on the closest one, for example.
(3/3) How do you plan to test a large scale mesh prior to launch?
There is lots that we can do with simulation, or combining simulations with some real devices. We also have a large team in Bangladesh that can help support field tests in some very different environment that we are used to in Vancouver.
Further, we are working with researchers at UBC and Guelph so that graduate students can apply some of the latest research methods in simulation and performance evaluation to RightMesh. (I myself have a PhD that relied heavily in this area, and we have several other PhDs on the team who can provide expertise to graduate students in this area. We are also working with some other top researchers in this area who will help in ensure we are straining and breaking the network as much as possible before launch).
To be more specific, it will be a combination of stressing various components of the system one at a time, along with tests that stress all of the components at once. We are also building software that can automate various scenarios to test how the phones and the library can handle different topologies and connectivity. Before we consider it ready for launch however, we'll need some wide scale tests with real devices and real traffic. This will likely happen by working with friendly partners who believe in the benefits of what the mesh can provide in very localized applications (think a train schedule app in a crowded city for example). This will inevetiably result in parts of the protocol breaking, which will iteratively repair.
Once we are satisfied that the network as a whole can maintain stability, tokens properly account for the data being used (verified on the public testnets), and that users of these early partner apps are having a good user experience, we will deploy to the public network.
Answers provided by Dr. Jason Ernst, CTO and Chief Networking Scientist
Have you had direct interest from large enterprise clients wishing to use the mesh technology in their apps/content strategy as yet, or are you having to reach out to them to generate interest?
Yes, RightMesh has been receiving direct inquiries from major corporations and organizations every day. These companies are largely interested in reaching emerging markets and regions where connectivity is an issue, and has been inaccessible until now. Mesh technology, being so new, will enable new types of applications to emerge that have not previously been possible, so proof of concepts for both RightMesh and partners will be a key focus. We’re actively in discussion with companies who are interested in integrating RightMesh into mobile applications, dApps, IoT devices and other hardware products to develop pilot projects.
In addition to these inbound inquiries, we have an outbound strategy as well, where we’ve identified key verticals that would benefit from mesh enabled applications. In the near term, over the next year while we harden the RightMesh protocol, we plan to focus on working with partners who provide services like emergency communications, distance education, medical services, and messaging applications, to name a few.
We see the need to work with a variety of different types of partners from international NGOs to brand names in order to test various use cases (ex. emergency medical alerts or content distribution from content providers). Our partnership strategy will evolve over time as our protocol matures.
We will publish announcements as per our effective disclosure policy once anything is material.
If your organization is interested in discussing a partnership or collaboration with RightMesh, we'd love to hear from you! Please email us at [email protected].
Answer provided by Brianna MacNeil, Product Manager, Blockchain
First let me say this product is revolutionary, I know if availability is solved there is no reason not to use this. My question is regarding your choice of an erc20 token, wasn't it more suitable to choose something like IOTA for constant payment of internet access? Are you planning for the payments to be made every second per MB consumed or something like that? Thanks
Related question:How exactly to you intend to use microtransactions considering high Tx fees from the Ethereum network?
Thank you very much for your feedback!
First, for context, let’s explain why and how RightMesh is using blockchain technology. Firstly, the protocol is integrated with Ethereum to uniquely identify each node (smartphone/device) in the mesh network by assigning it a MeshID in a similar way that a MAC address is assigned an IP address. Secondly, participation in the network is incentivized through an ERC20 token, called RMESH, and the network uses a custom implementation of µRaiden to allow for micropayments of micro amounts of data in the network.
We are supporters of Ethereum and its strong development community. Scalability and reducing transaction fees are two of the biggest challenges that the Ethereum community is working on now. But, while that is happening, we have also been looking at our own protocol design to minimize the need of Ethereum transactions and tackle the problem of scalability.
Every microtransaction that occurs on a RightMesh network does not need to be secured on the blockchain - that is vastly inefficient. That’s why we’ve been relying on a payment channel design based on µRaiden that allow micro transactions to occur in the network between nodes without transaction fees, and not being dependant on the blockchain for every transaction. We think this has to be a joint community effort, and so we’ve published the work we’ve done in porting the µRaiden libraries to Java to be used in our Android libraries.
We also believe that being a part of the Ethereum community also means contributing to it and helping it to move forward.
We hope that the work we have been doing on µRaiden and porting the libraries to other languages - specifically Java so it could be used in Android applications - will benefit other projects who plan to use the Ethereum network for microtransactions: https://github.com/RightMesh/microraiden-java
Answer provided by Saju Abraham, Chief Product Officer
If Google/Alphabet succeed with Project Loon, will this damage RightMesh's market?
If Google’s Project Loon succeeds, it would be a win for everyone and the planet. The same goes for the SpaceX satellite initiatives, the OneWeb project, Facebook’s global internet initiatives, 5G networks, and the success of other mesh networking technologies in the blockchain space.
We each share the goal of bringing connectivity to the nearly 4 billion people who do not have access to internet and connectivity. At the end of the day, we, RightMesh, aim to lift millions out of poverty by providing them with access to the societal and economic benefits afforded by the internet and access to information. This is not something that can be solved by one entity. It will take the combination of different solutions and approaches to make this a reality.
One major strength of RightMesh is that we can solve last mile connectivity, which is incidentally complementary to many other projects in the space. There is a good opportunity for us to potentially collaborate with some forward-thinking wireless companies, MVNOs, and corporations working on global connectivity projects, to provide last mile delivery.
Answer provided by John Lyotier, CEO & Brianna MacNeil, Product Manager, Blockchain
This is the best tl;dr I could make, original reduced by 79%. (I'm a bot)
"We are constantly improving our systems to ensure that we're able to both accommodate the immense volume of trading that occurs on our platform while also fending off sustained DDoS attacks," he said.24/7 MARKET. Daniel Masters, founder of Global Advisors Bitcoin Investment Fund, worries the exchanges would struggle to cope if there were a sudden rush for the exit. Cameron Winklevoss, co-founder of the Gemini exchange, an early bitcoin investor and an outspoken supporter of the cryptocurrency, said the risk the wider market would suffer badly if one exchange went down no longer existed, as trading volume had become more evenly spread. "We are definitely beyond the too-big-to-fail situation," he told Reuters. Mt. Gox, the world's biggest bitcoin exchange at the time, collapsed in 2014 after hackers stole 650,000 bitcoins, triggering a collapse in the bitcoin price. BITCOIN FUTURES. Some investors had said they were worried the launch of bitcoin futures by the world's biggest derivative exchanges could exacerbate volatility by prompting some traders to take out large positions betting on a price fall in the future. A bitcoin expert and founder of Post Oak Labs, a technology advisory firm, said he was concerned that if the futures liquidity increases there could be an incentive for someone with a large bet against bitcoin to disrupt or attack the network to make money from the ensuing price fall. In the past week, more than half a million new users have opened wallets with retail-focused bitcoin wallet provider Blockchain, the firm said, taking the total number of users to more than 20 million, from 10 million last year.
New Bitcoin Investment Fund launches in Jersey, Channel Islands.
From http://us8.forward-to-friend.com/forward/preview?u=c29e9123a2a84ae73b66f31eb&id=d6b67e9f10 Global Advisors announces world’s first regulator approved Bitcoin Investment Fund. Global Advisors Jersey Limited (“GAJL”), an investment management company based in Jersey, has today announced that it has received regulatory approval for a Bitcoin Investment fund. The Global Advisors Bitcoin Investment Fund (‘GABI’) has received certification from the Jersey Financial Services Commission (“JFSC”) and will launch August 1st 2014. The Global Advisors Bitcoin Investment Fund will operate within the Collective Investment Funds (Jersey) Law 1998 as an Expert Fund. Daniel Masters, Director of GAJL commented: “Global Advisors is thrilled to be able to bring a robust Bitcoin fund product to the market. Our long experience in commodities means we are well placed to manage volatility and performance risks in this fast growing and opportunistic asset class.” “Jersey, rightly prides itself on being among the top tier of jurisdictions when it comes to compliance and has proven many times that innovation in new financial products and the highest regulatory standards are not mutually exclusive. This is why we have chosen to domicile the Global Advisors Bitcoin Investment Fund in Jersey, to bring together the benefits of a secure environment with an exciting new technology.” “After a rigorous selection process we have chosen leading service providers Carey Olsen as legal advisers, led by James Mulholland, Moore Management as fund administrator, and Netagio and Elliptic as providers of custody services to strengthen and enhance our fund offering.” “We look forward to working with our service providers and colleagues who will be supporting GABI and helping Digital Jersey to cement Jersey’s fast growing reputation in the digital currency space.” Jean-Marie Mognetti, Director of GAJL will be attending this week CoinSummit London, at the invitation of Pamir Gelenbe and Gulnar Hasnain, organisers and founders of this event. He will be able to meet the press and seat with potential investors.
Morning, Another bitcoin product has launched, the BitcoinETI (ticker: BTCETI). I tend to prefer fundamental trading and analysis to TA, so here's my meta-contribution that has no analysis. Regulatory Framework The ETI is incorporated in Gibraltar and will trade on GSX, the Gibraltar stock exchange. It is also cross-listed on the Frankfurt Stock Exchange (owned by Deutsche Borse Group) and will trade under the same ticker. Interestingly, the Frankfurt exchange is ranked the 10th largest equity exchange by market cap, at $1.75B. As a side note, Deutsche Borse is merging with The London Stock Exchange group, which is the 3rd largest stock exchange at $6.1B and only trailing the NYSE and Nasdaq. Either way, this is the largest market that a bitcoin product has traded on yet. Listing the ETI on the Gibraltar Stock Exchange enables sales of the instrument across all 33 countries of the European Economic Area (EEA). Issuance iStructure PCC PLC issued the BitcoinETI, following a partnership between a number of stakeholders that includes the Gibraltar government and companies including regional Fintech firm and sponsor Revoltura Limited. The Financial Services Commission, Gibraltar’s financial regulator is also among the partners resulting in the issuance of the Bitcoin-based ETI. Now for some editorialization and clarification:
ETI - Exchange traded instrument
ETP - Exchange traded Product (synonymous with ETI)
ETF - Exchange traded Fund
ETN - Exchange traded note
I haven't quite seen the structure of this product, but I assume it will be an ETN (exchange traded note). If it was an ETF, it would be much bigger news. We already have an ETN or two, but no ETFs. They function similarly, but an ETN is debt (a note), whereas an ETF is equity in the actual, underlying asset. As a result, an ETN is still subject to credit risk; the ETN's operator basically generates assets, to which you have claim to with the company's debt you own (the ETN). So if they go bankrupt, you are a creditor. By contrast, an ETF is actual equity in the platform. Market Snapshot of Bitcoin Products GBTC: Over-The-Counter, open-fund share of bitcoin trading on OTCQX issued by Grayscale. This is not an exchange, but a private facilitator of peer-to-peer exchanges. Functionally, it is an exchange, but not as far as regulatory bodies are concerned, leading to lower costs for listing companies. It is also not an exchange product, but more like a public hedge fund or mutual fund. 174,530 BTC under management, 2% annual fee. Swedish ETNs: Shares issued by XBT Provider (swedish company), publicly traded on Nasdaq OMX, the nordic exchange group purchased by Nasdaq in 2007. There are actually 2 bitcoin products here, not 1: Bitcoin tracker one and bitcoin tracker Euro. Recently, Jersey-based Global Advisors (asset management firm, run by Daniel Masters, ex-husband of Blythe) acquired XBT Provider. it has a crazy fee structure. Not clear how many BTC under management - Global Advisors buys more BTC as they sell more ETN shares. Someone could calculate it, but i'm supposed to be working right now. The shares continue to trade on OMX. 2.5% annual fee. Gibraltar ETI: See Above Winklevoss ETF: Recently moved to BATS exchange, a huge commodity exchange. Pending approval. SolidX ETF: Recently filed for NYSE exchange. Gibraltar Announcement: https://www.gsx.gi/article/8292/gibraltar-stock-exchange-welcomes-bitcoineti
Bitcoin Exuberance Even More Dramatic in Lone Investment Trust (Bloomberg)
Bitcoin Exuberance Even More Dramatic in Lone Investment Trust Grayscale Investments’ trust trades at double net asset value ARK Investment’s Wood says her fund reduced bitcoin holdings By Camila Russo (Bloomberg) -- If you need evidence that bitcoin mania is getting extreme, look at the lone investment vehicle available to institutional investors. Grayscale Investments’ Bitcoin Investment Trust, which trades over-the-counter in the U.S. and offers direct exposure to bitcoin, surged 85 percent last week, compared with the digital currency’s 17 percent increase. Those gains brought the fund known by its ticker, GBTC, to trade at more than twice its net asset value, the highest premium ever. That has some long-term advocates of the cryptocurrency pausing. “We took some profits on GBTC for the first time since 2015 because its premium to bitcoin became too extreme,” said Cathie Wood, the New York-based chief investment officer at ARK Investment Management, which oversees the first exchange-traded fund with exposure to the virtual currency. “There’s a scarcity value in GBTC because for us and for other investors, to buy an instrument, it has to be a financial security. The only way we can own bitcoin is through GBTC.” GBTC’s premium surged as investors who can’t buy digital currencies flooded the fund as bitcoin climbed to new records. Blockchain assets are surging following multiple factors including, Japan saying it will recognize bitcoin as a legal payment method, Fidelity’s Abigail Johnson endorsing its use, and as evidence shows there’s growing adoption by companies and efforts to scale the technology. This all took place as industry leaders and enthusiasts joined in at least three highly attended conferences in New York last week. Some of the barriers blocking institutional investors’ access are that Individual Retirement Accounts only accept financial assets, that most funds have internal liquidity or risk limits which bitcoin and other digital currencies may not meet, or that internal compliance or audits don’t approve of the assets. Also, some investors don’t want to go through what they perceive as risk and hassle of dealing with bitcoin wallets and exchanges. Read more about the skepticism surrounding the surge in the price of bitcoin Grayscale’s trust, which has just under $400 million in total assets, is one of the few alternatives institutional investors have. Channel Islands-based Global Advisors Jersey Ltd. provides a fund with indirect exposure to bitcoin and two exchange-traded notes that invest in the digital currency, which are listed in Sweden. Global Advisors Chief Executive Officer Daniel Masters says the interest is stronger in the exchange-traded products and his fund has seen rising inflows from wealthy individuals and family offices. Attempts to list exchange traded funds that track bitcoin were initially rejected by the U.S. Securities and Exchange Commission on the grounds that the bitcoin market isn’t regulated, making it subject to “fraudulent and manipulative acts and practices,” but granted a request to review the decision. ARK’s Wood said that while a bitcoin ETF might make sense in the future, the bitcoin market doesn’t have the volume or liquidity to withstand the demand that would come from an ETF, so GBTC might be the best way to go for U.S. investor in the near future. “It’s going to be liquid enough, but we’re still in the very early stages,” Wood said. “A lot of people are worried that there’s a bubble, but I think this is just the beginning.”--With assistance from Justina Lee. To contact the reporter on this story: Camila Russo in Madrid at [email protected] To contact the editors responsible for this story: Michael P. Regan at [email protected]; Jeremy Herron at [email protected] Dave Liedtka, Eric J. Weiner
In the world of traditional investments cryptocurrencies are mounting a charge, as now Ether’s movement can be followed on Nasdaq Stockholm; this follows on from Bitcoin also finding a home there. The second biggest cryptocurrency by market cap was available on the Nasdaq via the trading of two new exchange-traded notes, or "ETNs." First for Ether The dual offerings, one denominated in Swedish kronas and the other in euros, are a first of their kind for Ether, which previously had no exchange-traded options. This recent addition also makes Nasdaq Stockholm the only European exchange to offer more than one cryptocurrency, after almost two years of Bitcoin ETNs. Both the Bitcoin and the Ether ETNs represent a new suite of investment opportunity, as some of these traditional investment platforms look to move with the time and take a stake in the $154 bln cryptocurrency market. Pioneering with a familiar partner The move towards cryptocurrencies by such traditional asset and finance investors seems to indicate that they firstly want to be a part of the booming market, but also that they are trying to make them accessible to those less clued in on digital currencies. Global Advisors debuted CoinShares early in October, billing it as a sort of crypto-specific iShares, the family of exchange-traded funds managed by BlackRock. The group behind Global Advisors and CoinShares has Wall Street roots and "crypto-finance" aspirations; Co-Principal Daniel Masters dealt in commodities at Salomon Brothers before heading global energy commodities trading at J.P. Morgan for the better part of the 1990s. Masters sees this emergence into the mainstream as the ‘next logical step’. “We are bringing these pioneering products under one brand so that investors can grow with a familiar partner,” Masters says. “It’s the next logical step in professionalizing crypto-finance -- as more assets mature in the space, more investors will demand exposure, and we will continue our focus on providing professional grade access.” Ethereum’s power Ethereum, and its token Ether, continue to be the second-biggest in terms of market capitalisation, its real value lies in its Blockchain and smart contracts, which many major corporations have latched onto. From Microsoft to Renault, companies are seeing the value in the technology and its application. This addition onto a trading platform of Ether now gives people the opportunity to invest in a technology that is being taken up more and more.
09-18 21:17 - 'Bitcoin Price Expected to Double with Help From SolidX' (self.Bitcoin) by /u/Huobi-USD removed from /r/Bitcoin within 1172-1177min
''' A few days have passed, and not much has changed. Despite all the hoopla surrounding the bitcoin price’s recent rise to $620, a drop has occurred, and everyone’s favorite coin is still hovering in the low $600 range. Also read: OKCoin to Blame for Bitcoin Price Retraction to $600? One source writes: “Bitcoin price trend remains up, but a downward correction prior to the next wave of advance remains likely… We’re waiting for price to either surge higher or make a surprise downward correction, but the market’s uncertainty to choose a direction keeps price action on a tightrope… Of course, we’d like to see an explosive upward price move here, but the downside risk remains.” SolidX Adding Fuel to the Party? And yet, despite what appears to be general indecisiveness, bitcoin is still expected to see a bull run shortly, thanks in large part to SolidX Management, LLC. The company has built what many believe will be the first Bitcoin ETF to operate via the stock market. The problem, however, is that the SEC is delaying approval. Does the stock market fear a little friendly competition? For many, the idea of replacing stocks and bonds with bitcoin has become a normality, and the market has been considered an unstable investment platform since the Great Recession. Image result for solidx The SEC delay could last as long as 240 days, which increases doubt about whether or not it will receive approval. On the plus side, should the Bitcoin ETF be approved, many enthusiasts and analysts alike feel the move could double the bitcoin price within a short period, and bitcoin-holders could likely make a lot of money. Director of Global Advisors Bitcoin Investment Daniel Masters says: “Retail and equity investors, who wouldn’t or couldn’t go direct to the commodity markets, were prepared to invest in these vehicles. That, in turn, sucked physical commodities used to back the ETFs out of the markets in question, leading to price appreciation.” And of course, the sentiment remains that bitcoin is likely to undergo further spikes, though they’re likely to occur in incremental stages. One analyst writes: “Things have been pretty good to us as of late – we’ve had plenty of opportunities to get in and out of the markets according to our intraday strategy… We are looking almost certain to close out the week net positive on the bitcoin price markets. This is not guaranteed, of course. We might see some rough action this evening or as we head into Friday’s session and take a few stop hits on the day’s trading. So long as we keep our risk tight, however, and don’t break our own rules, it’s as close to a guaranteed winning week as we can get.” What do you think about the article? Please leave the comments below. Source: [link]1 If you are interested on bitcoin trading visit our website Houbi.com. We are one of the largest BTC-USD, BTC-CNY trading platform in the world. HUOBI OFFERS FREE BTC-CNY/LTC-CNY TRADING, 24*7 CUSTOMER SERVICES AND SECURE PROTECTION FOR USER ASSETS. Welcome to trade on HUOBI.COM! ''' Bitcoin Price Expected to Double with Help From SolidX Go1dfish undelete link unreddit undelete link Author: Huobi-USD 1: *itc*i*ist.*et/ Unknown links are censored to prevent spreading illicit content.
REUTERS | Virtual safe haven? Bitcoin surges to highest in more than two years
This is an automatic summary, original reduced by 54%.
LONDON, June 16 The price of bitcoin surged 8 percent to $750 on Thursday, its highest since early 2014, as jittery investors sought shelter in the web-based currency, once considered too volatile to invest in, let alone at times of market stress. Along with those conventional safe havens, investors have also turned to bitcoin. Daniel Masters, a former commodities trader who runs Jersey-based bitcoin hedge fund Global Advisors, said he had started to see commodity trading advisors put bitcoin into their portfolios "Over the past month or two". "If you're a Chinese investor ... you're looking at two things: you want to buy something that has momentum, and you want to buy something that in the current environment in China, with a devaluing currency, a shaky stock market, a very shaky real estate market and a very weak credit market, is truly uncorrelated," Masters said. Around 95 percent of bitcoin trade is via Chinese exchanges, according to industry website Coindesk, so any increase in demand from China tends to have a significant impact. Bitcoin's lack of central authority makes it attractive to those wanting to get around capital controls, such as those in China.
When Daniel Masters walked into a bitcoin conference in Amsterdam last year, he had spent more than a decade riding the boom in commodities markets. Held at the city’s sleek Passenger Terminal ... Daniel Masters, Director of GAJL, said Jersey prides itself on being among the top-tier jurisdictions when it comes to compliance, which is why the firm chose to base its bitcoin fund in Jersey. Global Advisors’ co-founder Daniel Masters declined to disclose the terms of the acquisition, but said the company has taken over XBT’s two ETN products called Bitcoin Tracker One and Bitcoin ... Daniel Masters, “We believe strongly in the emerging use case of cryptocurrencies as tools for capital formation, but as with all innovation, discretion and caution is key. This fund is structured to offer managed exposure to the emerging space, allowing the fund investors to participate cautiously and intelligently, as this new market unfolds,” says Daniel Masters, Chairman at Global ... Daniel Masters is currently Co-Principal at CoinShares, a group which represents XBT Provider, issuer of Europe’s only exchange traded bitcoin note and is composed of the team responsible for GABI, a Jersey based, actively managed, bitcoin investment strategy; and previously responsible for the Global Advisors Commodity Investment Fund and the Global Advisors Commodity Systematic Fund.
Bitcoin: Beyond The Bubble - Full Documentary - YouTube
Jay Addison Technical & Media Advisor of CryptoBiz Magazine Interviewing Daniel Larimer CEO Bitshares at INSIDE BITCOINS Las Vegas. Daniel Larimer is the founder and chief developer at BitShares ... The MILLION DOLLAR BITCOIN. Is this figure real life or is it just fantasy? John Mcafee has predicted bitcoin 1 million by the year 2020 or he will eat his own man mushroom. Chico Crypto thinks he ... Total worldwide debt is expected to continue growing over the coming months, despite having just climbed to a fresh all-time high. Given the three previous w... Jersey aspires to be the leader in the digital currency revolution by playing a crucial role in the bitcoin ecosystem regulation. With this foundation, the director of Global Advisors (Jersey ... Bitcoin What This Move Means For The Bigger Picture! August 2020 Price Prediction & News Analysis - Duration: 49:51. Krown's Crypto Cave 8,179 views. New