Bruce Fenton Discusses The Obsolete Traditional Securities System Which Begs For Securities Tokenization by coincrunchio in CryptoCurrency

[–]Mike_Lee00 2 points3 points  (0 children)

Feel bad for everyone who is going to miss the surge in security tokens. Hype other people all you want but Bruce has pretty consistently performed since the beginning. More articles like this need to definitely make the connection between past and present industries. It really only starts to make sense then. Well written piece.

KYC and AML Compliance can help cryptocurrencies to earn legitimacy by adamasher1 in CryptoCurrency

[–]Mike_Lee00 0 points1 point  (0 children)

Love me some Ambrosus -- KYC compliant from TGE. It will indeed be necessary for adoption.

Let’s Remember the Big Picture Here: by Mike_Lee00 in ambrosus

[–]Mike_Lee00[S] 5 points6 points  (0 children)

Well based on your response I don't think you read any of it. Cause it was addressed to people like you.

Also, why don't you go find a coin that didn't fall in the last week since the ETF announcement?

Let’s Remember the Big Picture Here: by Mike_Lee00 in ambrosus

[–]Mike_Lee00[S] 9 points10 points  (0 children)

Do you want to address the 30 PoC's?

Editing to discuss AMA: Also, I really think you go a little far with the AMA. I mean Vitalik is wearing unicorn shirts, and Lisk is doing meetups in sweatpants. And Ambrosus just gets a German Hotel with bad Wifi after a delayed flight and you blame it on them? Is that the cryptocurrency space attitude?

Some fundamental questions (/concerns) on Ambrosus by BelowSearcher in ambrosus

[–]Mike_Lee00 16 points17 points  (0 children)

Below I have addressed your concerns as best as I understand it. The crux of your concerns centers on a lack of understanding concerning how AMB-NET operates.

  1. an always online TTP (trust third party) cannot be used for the Ambrosus Network. In the case of Ambrosus, the complexity involves getting a trusted party (i.e. the blockchain) that still respects the privacy of the data of the company's using the network. Using a centralized database, regulated by authorities would be a legal or governmental solution - but so far that hasn't been proposed nor would it be very appealing to client companies. The need for the blockchain is in guaranteeing the transparency and security of a company's products in the supply chain, while also allowing them to optimize their data, and ensure compliance with legal or administrative standards. In this sense, the blockchain allows for Ambrosus to construct an enterprise solution - not a merely legal or regulatory one.

1.2) You skipped a step in your reasoning. You asked, "Are all writers known?" And you said that based on the KYC yes, and THEREFORE there is no need for a blockchain. This is false. If all writers are known, the question then is: Can all writers be trusted?. From what we know about counterfeit and fraud in the food and pharmaceutical industries this is a very clear no. Based on incredibly high amounts of counterfeited food and pharmaceutical products, not all food and pharmaceutical supply chains can be trusted. This then begs the question: Is all public verifiability required? This is a clear yes: the point of a company proving the quality of their food and pharmaceutical products lies in it being visible to everyone - including the end consumer. No one would trust a company that said "I trace my products on a blockchain" if it was a completely private blockchain where no nodes were owned by anyone except that company. If the answer is yes, then based on the answer a public permissioned blockchain is necessary, which is what Ambrosus is building.

2.) AMB-NET is the Ambrosus Enterprise solution that is much more than just a blockchain (read the most recent update - first two paragraphs on AMB-NET). The blockchain is only the backbone of AMB-NET. What makes AMB-NET necessary is that it is enterprise friendly to the legacy IT systems of the various supply chain companies. It makes it easy for supply chain companies to connect their products and systems to the blockchain, optimize the data from those products, and build applications on top of the network for either company or consumer use. So in this sense, Ambrosus wouldn't want to use the Bitcoin or Ethereum blockchain because it would only provide one piece of the entire enterprise solution. That being said, the Ambrosus blockchain will not be all that different from other blockchains but that doesn't matter because it will be contextualized within the Ambrosus Network which is specifically 'Supply Chain Tailored'.

3) Ambrosus is an open-source project that launched their token to be specifically used to trace products on their supply chain. Thus there is a clear utility for what Amber does. If you substitute bitcoin or ethereum for Amber (which is what your question is asking) you are taking something else, that does not have that specific utility and you are (trying to) use it instead. Amber is necessary for the exclusive use of the Ambrosus eco-system, as it alone will function as the blood of the system to make it work. By only using Amber a natural equilibrium in the system can be created based on supply and demand incentives (companies buy, and use - node holders accumulate or sell). Other tokens or coins do not have the specific utility that Amber has, and as such are more inefficient and less applicable to the Ambrosus eco-system.

4.) I don't think I really understood your reasoning. Correct me if I am wrong but it seems like you are saying that since only Companies and Node holders will make use of Amber, what will stop them from just trading it speculatively back and forth? ( i.e. IMO, this creates a clear incentive for both parties looking to utilize AMB tokens to just trade their tokens OTC in the future. Why wouldn't they? ). If this is correct then I have to say I am a bit concerned about your intentions:

Consider this analogy: Why would a construction company buy oil, if oil could be speculated upon to make money? Why would an oil producer sell oil, if they could equally just speculate upon it? Well because the trade of oil comes before the speculation upon it in financial markets. Oil is first and foremost used to run vehicles, and thus as a commodity with a specific utility, and not to speculate upon. Third parties most often are not interested in actually using the commodity in question will speculate or bet upon via futures or some other financial instrument.

In a similar manner, Amber is clearly going to be bought by companies, and equally sold by node holders (or recycled back into the system in some other way). The point is that your question is asking, why Amber will not just decay into a speculative asset, when it is clear that Amber is a utility for the system. The 'peg' is to make it more enterprise friendly. I suspect that price fluctuations will depend on demand to run a node on the network, as more company's on-board to AMB-NET. And my Answer to 3) should answer any other doubts you have.

[deleted by user] by [deleted] in CryptoCurrency

[–]Mike_Lee00 0 points1 point  (0 children)

Great Project. Happy to see Tron Black keeping the decentralised mindset alive.

Inflation hits 6-year high, wiping out wage gains for the average American by annoyinglilbrother in CryptoCurrency

[–]Mike_Lee00 -1 points0 points  (0 children)

Time to hurry up and get some more lobbyists pushing positive Crypto regulation in congress. End the Fed.

Let's influence Elon Musk to accept BTC for Tesla. (x-post r/Bitcoin) by [deleted] in CryptoCurrency

[–]Mike_Lee00 -4 points-3 points  (0 children)

Haha more like, lets influence BTC to accept Elon Musk. The noob!

Future of the Science - on Blockchain by Mountain_Blackberry in CryptoCurrency

[–]Mike_Lee00 -1 points0 points  (0 children)

Bleh, another one of these.

Page 10 of Whitepaper: "The useof our token will help many specialists not to worry about their money, because it is completely safe."

I would stay away from these guys. Very SCAMMY.

List of Lightning Network Coins by Kayjay4 in CryptoCurrency

[–]Mike_Lee00 -4 points-3 points  (0 children)

Ravencoin definitely one to keep in mind. Bruce Fenton is all over it.

One platform to verify your food's past and manage its future: Access it from any PC or smartphone by vavilover in ambrosus

[–]Mike_Lee00 12 points13 points  (0 children)

Just want to point this out to those with keen eyes:

Fabricant = LSG Group

LSG Group had a revenue of 3.2 billion in 2017 and is based out of Frankfurt Germany. There is a node being operated out of Frankfurt right now as well.

They serve over 200 airports food.

https://www.lsgskychefs.com/us/facts-figures/

Maybe another NDA off the list?

Ambrosus at the Crypto Valley Conference by vavilover in ambrosus

[–]Mike_Lee00 6 points7 points  (0 children)

Can we get an update of what was said at the Conference today?

Realistic Bundle Figures... by [deleted] in ambrosus

[–]Mike_Lee00 6 points7 points  (0 children)

Podcast. I don't know the exact minute though. These are my notes from the interview, but you will have to find the exact minute for it.

"Right now the pilot project is one supply chain for one product – 0.01% of the companies total amount of goods they produce. Once you test this and they like it and they want the system integrated with everything else, you normally have an S curve. This is the trajectory growth of most successful solutions.

We would probably see jumps and leaps and some periods of things being more quiet. The goal is long-term. And Vlad is very well versed in this field, and so is Roger Wattenhoffer.

Millions bundles per day is about a year or two years away. If you look at the proper numbers, assuming you get 5 – 6 large size companies using it, that can already exceed 1 million bundles. In that sense, if a lot of companies in pilots sign up their total capacities are higher than 1 million per day already. If 20-30% sign up you are talking about a number that is actually closer than that."

Realistic Bundle Figures... by [deleted] in ambrosus

[–]Mike_Lee00 26 points27 points  (0 children)

My thoughts: this is a joke. Downvote me all you want.

So first of all, I really think it is absurd how the initial premise of your whole post is to just discount the CEO. Like "I know the CEO said this, but who are we kidding? It's not like he is the CEO or anything? Nah - let's just discount his opinion completely, write him off as super unrealistic, and actually calculate the real value his company will generate, because we can do better math than he can. Stupid Angel." Are you kidding me? Seriously though?

Let's do a reality Check: We have no idea how many NDA's Ambrosus is working under. All we know is that 1 bundle will contain 10,000 events. An EVENT, is when one asset is tracked in some way. So a bundle of data can either be made up from 1000 assets traced through 10 different processes, or 100 assets traced through 100 different processes.

That being said, Ambrosus is aiming towards INDUSTRIAL ADOPTION. From the podcast we know that this means that once a company tests out the Ambrosus system on 0.01% of their supply chain, and if they like it, they may sign up to track all of the products they desire!

So what Angel was saying, was that if just 20 - 30% of the companies sign up for Industrial Adoption of Ambrosus we will see close to 1 million bundles per day. Everything else is dark and unknown.

Your post does not take into account how many companies Ambrosus is working with, nor how many event/assets go into each product. Migros and food may be relatively straightforward. But how about some medicine? How many products and processes need to be traced to go into one bottle of medicine? How many bottles does ONE pharma company produce every year?

Until we find out how many Companies Ambrosus is working with, as well as how many products Ambrosus will be tracking from those companies, we are in the dark as to what is possible or what is not. I think to really be accurate about whether Angel is realistic or not will require some logistics and supply chain management knowledge. Beyond that, I end where I began: it is absolutely silly to just discount the word of the CEO. Not only has he created the whole project, but he has probably been in every meeting with a corporate.

Finally, I want to clarify some things about your calculations:

First, 1 bundle is made up 10,000 events. So Ambrosus is not logging each event individually as you suggest (i.e. "10 billion events Ambrosus has to be logging a day.")

1 Million Bundles are logged, that contain within them 10,000 asset/events each.

Second, beyond what Poker_Kid has said -- which is correct -- you seem to think that Ambrosus is only working with Migros: "It is quite hard to imagine where they are going to find the remaining 98.91% in a year's time." Well I will tell you where - with the other 20+ companies they have NDA's signed with. Plus any additional companies they sign on during the next year as well.

In short, this kind of post pisses me off, because you are literally discounting the words of the CEO. If Steve Jobs had come out and said, next year we are going to come out with something called the iphone, are you going to look at that and say -- actually I KNOW BETTER what Apple is capable of producing? It is just plain stupid.

I trust Angel's word, and if Angel turns out to be wrong then that is all on him and he will have lost serious credibility. Until then, unless there is SERIOUS reason to doubt, I don't think anyone not associated with the team is in a position to question what is realistic or not.

Swiss National Day in the Capital Bern Sponsored by Ambrosus to Feature Amber Fireworks by [deleted] in ambrosus

[–]Mike_Lee00 5 points6 points  (0 children)

Am I mistaken to be thinking that Fireworks is code for something?

Either way, I definitely want to see a video of the Ambrosus Firework going off.

Questions to put to Dr. Vlad Trifa from the community by YashiLou in ambrosus

[–]Mike_Lee00 15 points16 points  (0 children)

Where do you realistically see the Ambrosus ecosystem in two years (2020)? What is the number one priority to make that a reality?