[Deutsch] #IOTA Sonntagsplausch 16er September ’18

September 16, I welcome you to the Sunday banter. Yes… interesting times. I think you noticed that social media has been more active for the last weeks. It could be some kind of cascade effect. If someone who’s influential starts spreading that it might go up again… Everyone else sees it. Then people who do technical analysis come and reaffirm it. Then there’s an article here and there. And already the next bubble-and-hype soup is cooking. Somehow it feels like it. But apart from that… and this is probably why the majority of people are listening to me… substantial things are happening inside the IOTA ecosystem that have little to do with hype, that are important for the industry and acceptance in the real world and about some things that are very interesting in this area I will talk today. Especially how IOTA reaches people that other cryptocurrencies maybe wouldn’t reach because relevant connections have already been established. Probably also because IOTA has the status to be taken seriously. The legitimacy is very high. It’s an in Germany regulated non-profit organization. A non-profit foundation that doesn’t try to become rich but acts of general benefit… for the people… and doesn’t have the intention to make profit. And I think that is a very big advantage. But let’s start off with a very interesting subject for everyone that runs a full node. In the meantime, there is the IOTA Engineering channel on twitter and they announced 11 days ago that… I already mentioned it. This is just a reminder… there will be a global snapshot tomorrow. Usually it is from 10:00 to 17:00 UTC. Usually it’s just like that and there are no problems The people just have to do the snapshot so that full nodes get a little more space on their hard drives back and unimportant transactions… So all the information that doesn’t serve any purpose is deleted and full nodes have more space on their hard drives. It’s especially interesting for all the full node owners that might have chosen less gigabyte at their hosting service like AWS or Hetzner or Digital Ocean. And all the people with big databases… that have a lot of space on their SSD… can ignore this. So tomorrow… Monday is usually a quiet day… from 10:00 to 17:00 the tangle won’t be available. Now people might say: This is a centralized solution. And I would say: Yes, you are right but… very importantly… someday this will be different. Soon there won’t be any more global snapshots but local snapshots. Two weeks ago, Hans Moog published an article for the IOTA Foundation that described the progress on local snapshots and the development of local snapshots. And it said that in few weeks there will be a beta phase and I hope that it won’t be too long… let’s see. Anyways, tomorrow there won’t be a hack so stay calm. It’s just a global snapshot. Well… now we talk about official announcements or rather official news from the IOTA Foundation. If I didn’t miss it somehow no new member was announced. There are many. For example a young lady will be introduced for the personnel department as far as I know. But as I understood it the following is the case: The foundation, David Sonstebo and Dominik Schiener have so much to do that they can’t write these announcements on medium. But they have a lot of people to announce. And I am in a mod team… On Discord I saw which people have this “IOTA Foundation tag” next to their name and there were some that have not been announced officially but that are already in Discord and evidently are already working. So, a lot is happening but the communication is bottlenecked but it’s also not that much of a problem. They are working in the background we just don’t notice it as fast as we would like to. But that’s okay. I will show you why in a moment. A lot is happening. First, this Article by Samuel Reid. We know that Samuel Reid is a qubic developer just like some others that are named here: (names) Donald Kelly wasn’t announced yet and we don’t know if he joined the IOTA Foundation or if he’s just part of the qubic development team. But he was named and I already read his name multiple times in other contexts on Twitter and on Slack. I think he’s been involved in IOTA for a longer time not but it wasn’t announced. the article is about the recent development in qubic. Anyhow, the article is about the recent development in qubic. And well… it’s a big thing that people are waiting for. Qubic adds the function of decentralized quorum-based computing to IOTA which enables people to rent computers, pay with IOTA and do their calculations decentralised on the tangle. And that’s interesting for everyone who wants to build dapps, for the people who work as scientists and manipulate data, have big data frames or have statistical elaborations like regressions. All of this sometimes needs a lot of computational power and sometimes it’s practical if you can outsource it. Usually scientists don’t do computations on their own laptop because it takes too long but outsource it to the university. I experienced the same in my university. It was totally normal. And this is one application of qubic. Another one would be to project indicators, so called oracles, onto the tangle and make decisions accordingly that are either advantageous or disadvantageous to you. And these decisions you could basically call smart contracts. They function like smart contracts triggering decisions that can’t be changed and act within the bounds of a contract. That’s also part of qubic. But there are some more faucets. We talked about it a lot. If you want to keep yourself busy there are a lot of resources on the internet. Let’s focus on this article now. It’s about resource tests in qubic. And they write that in qubic there are more or less 2 phases when it comes to these calculations and the reward for computers that do the calculations. If for example you want to do data manipulation which means having big data frames containing something like 5 columns and 20.000 lists and you want the information in the individual columns to correlate because you know that in this one corner there are 5.000… ehm… I don’t know… what to take… let’s take dandelion. And in the other corner… in the other column there are 7000 rows of stinging nettle in some area, in some forest or something. And now you want so find out if there is a correlation between the amount of the plants in this the geographical area. Of course, some botanists would tell me: There is no correlation. There are other important factors. But you could still do it. And these regressions or these correlations take a long time and with bigger database and data frame more and more weight is put on the computer. And usually there are regressions that are calculated only using the headers and you interpolate and so on and so on. But real and good calculations are always don’t with whole databases and that takes time. Now you could say that you take a really good computer and offer the scientist to do this regression for him and he pays you. And someone else says he wants do the same. He is also part of the IOTA network. He offers the same but only owns a really bad laptop with quite little computational power. The difference is now that with a supercomputer I can offer way more computational power so I need to be paid better than the one with the small laptop. Which means that first we need to determine how good which computer is and what reward is given for this quorum-based computation. Else it would be unfair. Else someone could exploit it and profit by using 30 old laptops and getting as much as someone who… I don’t know… a Chinese in Hong Kong with his supercomputer containing 7.000 Xeon processors. Doesn’t make any sense. So you have to figure out the payment for the correlating computational power and that is the resource test. It’s the first part of qubic and the part the article is about. And it’s not all that easy to understand, like always. Therefore I just tried to summarize it. And the solution they give belongs to the area of Proof of Work and Proof of Stake. The computers have to prove in advance how fast they can do specific calculations so we get a reference for their computational power. This is one possibility. Another one would be… they did this before. Doing this they build a… let’s say trust pool. And this stake… this amount of trust in this moment could be effective for following calculations. But there are also some others like biometrical proofs… Proof of Biometrics or so… well. These thinks are heavily looked into at the moment. They are still unsure how exactly they want to do it but there are considerations being made. That’s the first step. And people who think this article is a little incomprehensible can go to Hello IOTA because their model is to simplify and summarize very hard subjects from the IOTA Foundation so that a normal human being can understand it. And that’s what they did here. It’s in English but you know… you can easily translate it and have a look. Anyhow, also the qubic roadmap was released. I quickly have to check if it’s here. Yes, here’s the roadmap and you can see the progress of all the developments. Because qubic is a leviathan(giant) regarding software and is surely not easy. There were other cryptocurrencies that tried to offer decentralized computational power. Golem is one for example. It took them incredibly long to build everything up. That’s my personal reference to imagine how long the IOTA Foundation will need to release qubic completely and not just as an alpha or beta version so that people can use it. And I’m quite sure this will still take a long time. You can see all these progress bars. For the programming language that is created especially for qubic it’s just a third. With the compiler they are further but well it’s just a compiler. You can see it. The libraries they need to build are just at the beginning. Lots of other things are still at the beginning. It takes time. But what I like is how transparently they deal with it. One could also say: What a crap. They show all this and nothing is finished. Yes, that’s how it is… cutting edge… and these are problems that arise for the first time. Never before anyone tried to do this using trinary technology, on the tangle, decentralized, safe and so on. It is a proof of concept that promises a lot but that also is very hard to build and that’s why it takes a long time. And I think this transparency is good so people know about it. This is how it’s supposed to work and not with empty promises… okay. But I also think qubic will still take a long time because we need an extremely stable tangle that is scalable and enables economic clustering so that we can have these economic clusters on the corresponding continents in future. We need local snapshots. We need scalability that is given by many other technical solutions. And THEN I’m quite sure that qubic will have an impact. And before that it’s the high expectations that make IOTA seem very innovative and interesting but qubic is just not here yet. Still, I always look forward to these updates. They are always interesting. And if it is finally ready it will be ground-breaking. Well… let’s talk about this subject here. Nobody can imagine how excited I am to tell you this. I already twittered about it a few times. It is the Object Management Group and it also has to do with the Industrial Internet Consortium. We know these two organizations because Richard Soley is the chairman, the CEO… And these two organisations are, we could say, passively connected to IOTA. But thanks to this letter they are connected actively. And what is it about? At first glance, it’s just a piece of paper that shows what they will do at the Finance Domain Task Force Meeting or what they want to show. Namely, the two organizations meet and want to discuss which standards the focus is on and which standards and which problems and whatever… will be tackled in the next weeks, month and years. It’s like this: If you are in the space of Internet of Things, Industry 4.0, Web 3.0… whatever you want to call it… the physical connection of all devices… cyberphysical systems… then we encounter problems. For example there is the problem that a relatively high number of companies do their own thing and effectively the is no connectivity. It’s like the first systems 20 years ago. There was a floppy disk, then smaller diskettes, then CD-ROM and so on. All these systems were kind of individual. Then apple comes and builds its own connectivity. And one has to figure out how to get data from one system to another. That doesn’t work if there is no “Norm”. If there is no standard that connects all the systems. One standard that everyone knows is USB, another standard is TCP/IP. Things like these need to be tested and you have to figure out they are possible, secure, fast, innovative. And who tests this? Yes, the Object Management Group. And Dr Richard Soley is the CEO of this Group that represents many companies as I understood. I can show you a list of members in a moment. Very interesting is that Richard Soley is also part of the supervisory board of the IOTA Foundation. And at this meeting he said… he was at the Chicago Connectory… that IOTA is the logical solution. We need a standard for distributed ledger systems for the Internet 4.0, so in the internet of things. There is nothing else. We need something. And he said it’s the logical solution. It just makes sense. And if we have a look at this Technical Meeting from September 24-26 we see that IOTA is already discussed. It says: (reads) And it’s done by Bobbin Teegarden, OntoAge. In German this means that they discuss to make IOTA and the tangle the standard. They already have a proposal that probably says how exactly they are imagining this, which problems and obstacles have to be overcome. But for me this is one of the most fantastic news we ever had… a small sensation actually. That such a group carrying so much weight being so important and having to much power to make decisions wants to make IOTA the standard… I wouldn’t have believed this 3 month ago. In any case this news already spread but I don’t know. You probably know that in the area of cryptocurrency these hard facts don’t really count… these important things happening. But actually, other things count like advertisement at the times square… such crap. We’ve seen everything. IOTA is absolutely taking goliath steps in the right direction and really smart investors focus on such things and not on some advertisement at the times square. Which by the way happened to another cryptocurrency only because they released their testnet. It’s a disappointment… well… whatever. As promised, here are the member companies of the Object Management Group. This list is long and as I would say contains at least 60% of all important companies of the world. Airbus and Cisco and Fujitsu, Frauenhofer Institut, Goldman Sachs, Humboldt University… I will do all the big ones. The small ones are not that interesting. Johns Hopkins University. Not bad. Matthew Green will be happy that IOTA will be standardised. Microsoft and so on. We see how much of an impact this can have. And once IOTA is a standard it will be the first non-profit Foundation under German law and the first cryptocurrency that is a standard. And that’s the difference. A lot of other cryptocurrencies would like to replace fiat like… The dollar is evil. Euro is crap. Rubel and Renminbi should be forgotten. We need bitcoin. So, when grandma wants to buy bread in the morning she needs bitcoin. The Euro is evil. I just depicted it in a very exaggerated and evil way but in the end, this is what a lot of anarchist crypto kiddies claim… bitcoin is a replacement for fiat. At least it was until scalability problems with transaction fees and waiting time occurred like we saw in January or already in November when transaction fees went up to 15$ and all of a sudden people claimed that bitcoin is better than gold regarding the invested money… and it isn’t digital cash anymore. I’s not a replacement for fiat. Suddenly it’s a long-term investment. It’s interesting how times change. If IOTA has these two points on its list I don’t understand investors anymore that overlook IOTA because they read in a subreddit that someone wrote something bad. A year ago, people said that IOTA is a scam and that the cryptography is broken and currently IOTA is displayed as standard. IOTA has got the best partnerships and collaborations and testbeds and everything possible in the field of cryptocurrency… times change. We prophesied it for a long time but I think now it gets serious and I can prove you why in a moment. Before I do that, I want to show this website to my German audience. (It’s a website in German called einfachIOTA. He just talks about it until 23:35) Now to Dr Daniel Trauth who is constantly working on IOTA… on the fine blanking mechnisms… trying to store industrial processes on the tangle. There are these systems called digital twins so that complete systems by companies are build as digital twin and the data is secured and available so that the analysis is way easier. Additionally, there is this model by the WZL from the RWTH Aachen that the data of the stamped parts… it’s fine blanking… is stored on the tangle and later sold. The model is very simple. If you produce all the parts in your company there are all kinds of indicators, all kinds of specifications, that are interesting for other companies… for other scientists… and so on. At the end of the day this here isn’t a company but part of the university and they want to improve the processes. We know of course that the university RWTH Aachen is close to the medium-sized companies and wants to improve industrial processes. That’s exactly what this is about… InternetOfProduction. Once they are finally ready and can improve industrial processes with IOTA and the tangle then IOTA moves forward. And here… that’s why I added it… Daniel Trauth says that he was on the campus of the RWTH Aachen with the Knowledge Exchange AG and could show this whole thig with IOTA. Many many companies were present. You can see them here. Some from the field of electrical engineering like Busch-Jaeger or ABB, some from the field of travel and other big companies we know. So not bad. And like always: interested people, some with their phones and less interested but we know where this is going. These meetings are very important. IOTA reaches further. And what Dr Daniel Trauth and the people from ILLA do is very valuable and I think we will get much more information on this. You noticed it, I talk about these results almost every week. They are very hard-working. Great, great. Also interesting is that sometimes different results of research or private work come together and form synergies. In this case… as you can see in this tweet… Thomas Potoschnig has been working on the IOTA PiDiver for a long time now, a small electronic board made to faster validate transactions on the tangle by performing fast Proof of Work. And if you can integrate these small systems… that were built privately and that are excellent work… into big, complex systems one day like into fine blanking at the RWTH Aachen then you should support it. It has low power consumption, it’s very fast, you can… I forgot but I think one time it did 40 transactions per second. I have to look it up but it definitely was a lot. And you can see how a synergy is formed between private developments that lead to improvements in other systems. And this is exactly what the IOTA ecosystem is about… that all people form think tanks and solve problems together and that’s great. Now we come to the Netherlands, Harm van den Brink and ElaadNL. The first electric charging station in Europe that runs on IOTA and only on IOTA. Here is this small model car. We saw this about 9 month ago… that ElaadNL pushed ahead with Harm van den Brink who works at the IOTA Foundation built this charging station which ran from that day on. And this small article describes the first experiences that were made with it. You know that with articles it always works like this: I give you the address, say one sentence and the rest you can read yourselves. Otherwise I would steal readers from the authors and I would like you to visit the website. That’s how it is. The next article is about something we actually already know but I added it because it’s well written and in German. It’s on Wallstreet Online. 2019 IOTA and VW will release these cars that all have an e-wallet. Here is the article. It’s very nice and I think some people read it. It’s in the video description below like always. This article by Marcus G. from public IOTA shows how in the future you can make money with the IOTA data marketplace. For everyone that doesn’t know how in future data from sensors… for example with this Bosch XMK device or other sensors for soil moisture, humidity or whatever. There are so many sensors by now… in the end you can connect all these devices to the tangle, offer data for sale for IOTA tokens and make money. And essentially the article is about processing data and about this economic model of selling data… interesting, interesting. We move on to meetups and everything that happened. We know Dominik Schiener was in Singapore. He tweeted about it often. Unfortunately, we don’t have that much information but you can see that many people were interested in what IOTA is. Here I some more information. There were about 40-50 people in the room listening to Dominik Schiener. They mostly didn’t hear of IOTA before but one group was present that knew a little bit. It says the talk was inspiring and interesting. And I wish be would get a video but I don’t think so. Still… IOTA is carried further. Just like here… Dominik Schiener again. He writes: (translates the tweet) Let’s see who will be attending. Fasten your seat belts. It’s… a big thing. Important people will be present. It’s like this OECD meeting I talked about last week. For example, here is Peter Feldmann from the city of Frankfurt, the CEO from Deutsche Bank, Martin Zielke from Commerzbank… I will just skim through it… the important ones… Mario Draghi, then Olaf Scholz, then… Who else? I’m at the end. But that’s enough. Because here is Dominik Schiener. It couldn’t get much bigger… it’s a very important matter. The people that do the important money transactions, that see the important problems of the world, the real people solving the problems can be seen live. And I think we can see Dominik Schiener as a problem-solving person in this innovative area. In the future we need new models. In the future we need security technologies for data integrity and micro transactions. We don’t have them yet. And these people should be aware of it. That’s why I think it is very interesting that between all these VIPs there is Dominik Schiener on the list. Although he is a VIP in cryptocurrency he isn’t in the rest of the world yet. I hope that will change… very good. And Hello IOTA also wrote an article about this topic… because you have to look at in in context. What else is happening and why should IOTA be taken seriously now… this article… short but on point. Like always the link is in the video description. Now to the Head of Business Development Wilfried Pimenta de Miranda and he is in Vilnius… yes. And Vilnius is the capital of Lithuania and in that region the biggest technology…let’s say… conference takes place called Switch. And here is the very very long list of speakers and he will be present. Of course, the prime minister of Lithuania, the Ministry of Finance and the European Parliament. But also big companies are being represented. Let’s see. I saw Ebay. Let’s see. Let’s see… Here’s Ebay, Saumel Laurinkari. Then here’s Google, Thomas Gulbinas. And additionally many big companies from Lithuania. It’s the same story. IOTA has come a long way. It’s amount of legitimacy grows and grows. It’s like this with cryptocurrencies. If you ask someone on the street: Do you know Bitcoin or Ethereum or another one like IOTA? Do you know cryptocurrencies? Yes, already heard about that. It’s for the dark net, right? All these prejudices still exist. That will change if you begin to reach real companies and if speakers attend such big conferences like Frankfurt European Banking Congress or Switch. There are a few more but first let’s talk about Jochen Renz who was present at the “Hannovermesse”, but not the one in Hannover. There is this “Hannovermesse US” or rather “Hannover Faris us”. And they had three IOTA showcases. I heard it actually just took 10 minutes but interesting is that it was sponsored by GE Ventures. And GE is General Electric, one of the biggest companies in the world. They have venture capital. And they want to have a look at innovative areas and like to support them. That’s why I found this very exciting. Here is this tweet by Hannover Messe USA… you can see this presentation on the screen of GE Ventures. Here is Jochen Renz and they are talking about IOTA. Blockchain was not designed for the IOT, IOTA was. That’s how it is. And lately we had problems with people posting under announcements or positive tweets about IOTA: You are scam, Bitcoin is better and so on. This competition is still existent. And if you think about it. Bitcoin and IOTA… where is the competition? According to the fanbase Bitcoin wants to be this long-term investment, digital gold, and isn’t made to be a cash system, isn’t partition tolerant, has transaction fees, doesn’t scale and has a lot of Proof of Work. IOTA on the other hand has very little Proof of Work, is scalable, is partition tolerant, doesn’t have transaction fees, works in the IOT and is clearly not to be seen as digital gold but the possibility for nano-transactions, for data integrity, for sensor data marketplaces. It’s clearly made for the IOT which means there is no overlapping. So there is basically no competition between these two cryptocurrencies. But still small investors like to go on twitter and tell people: This is all crap. Better invest in Blockchains and Bitcoin and not in IOTA. Why not in both? Or why talk about it at all? That’s why I like to make fun of it and show these reactions. And people say: Why do you waste your time for those people? And I say: Well, sometimes it’s fun. What am I supposed to do? That’s how it is. Drama is also part of this whole Blockchain space so don’t pretend like you don’t enjoy it sometimes. Somehow it’s funny. Interesting is that Tobias Zeitler… maybe a lot of you know him, maybe not… the newer ones of you don’t, the older ones might… Tobi is part of the IOTA community. He is an enthusiast and he sees in IOTA what I see in IOTA and what many people see. And he took the time to record a podcast for BTC-ECHO. It’s about his personal start in this whole area, what to expect of IOTA in 10 years and what makes IOTA interesting and so on. Very interesting for people who don’t know as much about IOTA and who may need an introduction and for people who want to learn more about Tobias. Good work… well done. Now to speculation… I can’t talk that much today. You are hearing it. My nose is blocked up. It’s not that easy. What happened here? Let me refresh so we can see what the volume is doing. 10.57 now it’s at 10.4. The 24-hour volume is going down. The last 7 days Bitcoin went up a little bit. Bitcoin is more or less the leading currency so that the other cryptocurrencies move accordingly. The trading bots also act accordingly. If Bitcoin rises the bots are told to also buy Litecoin. You can see the chart being mirrored. It’s basically all the same. The big question is: Are we in a bull market or are we not? And I come to the conclusion that we are not in a bull market at the moment but that we will see a positive price movement upwards very soon. Why? For months I preached that we are in a bear market and that at the beginning of September… at the beginning of Autumn, when the people come home, when it gets cooler on the northern hemisphere… then traditionally the markets become more active again. Today it’s Sunday. That might be the reason why the 24-hour volume of cryptocurrencies has gone down. But I’m convinced that all the cryptocurrencies together offer an added value to the society and the whole technical landscape and that investors know this. It never happened since 2008/2009… so since you can trade cryptocurrency… that the price went down over a long time. Quite the contrary: Long-term the price always went up. And it will stay this way. Usually blockchains use a deflationary model. Usually there is a fixed number of tokens that gain more value over time. There is no unlimited supply of bitcoin. There are only 21 million until 2040 as far as I know. After that no more are produced. So we can be glad that bitcoin has so many decimal places and smaller transactions will be possible with a hopefully working lightning network. But my point is: The more people know about Bitcoin… the more people know about and use cryptocurrency the less tokens are available on the market. The logical consequence is… supply and demand… somewhen the price has to go up and traditionally that happens in winter. We can see that this pump in December was enormous, everyone got carried away and thought it would go up to 60.000. John Mc Afee said Bitcoin will go to 1 million until 2020 or he will cut off his… sorry… genitals on stage. These are his words. He is a funny guy apparently. Since then we saw 6 month of bear market. Now the market is consolidated. It went down. And now we are in a phase… it should move sideways and then up. We had sideways… long enough. So I think… considering all the bullish news we heard… the market now has to decide. Like I said: This is not an investment tip. I don’t trade according to what I say. I don’t trade at all. I’m a HODLer. I hold my cryptocurrencies and watch the market and try to support it and try to spread honest information as you know. But I don’t trade. I presume that the market will move north and then IOTA will follow. Because… we can see it here… effectively it’s the same price development. Outbreak in December, consolidation till this point… what is it?… $0.42. Since then a small rise to $0.57. That’s where we are now. Yes, and with all the bullish news I presume that IOTA will either develop own character somewhen and moves ahead of bitcoin. Especially because it covers another area and many many companies and many many influencial people don’t rely on Bitcoin because of the missing scalability. So they opt for IOTA. Then IOTA might move ahead of bitcoin. When we don’t know. I only know that soon a green candle will rise… let’s see… I hope so. But what you shouldn’t do is listen to me and then invest. It’s just one opinion of many… not legally binding. You definitely shouldn’t invest because I said something. Be careful. It’s just my opinion. But that’s it for today and I can make myself a big cup of tea. I’m pleased that you tuned in. You are a very loyal fan base. So, thank you very much for all the support and the kind words. It really pleases and motivates me. And I would day: We hopefully talk again next week. Enjoy your time. Have a good one. Bye.

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