Interesting discussion over in #community. An army marches on it’s belly. Markets ride on information they are fed.
I see this topic and see it will be good to contribute the conversation here.
Now there is low liquidity of the Maidsafe token (conversion to safecoin soon…). This is good for believers, like me. Whereas many ICO and pre-ICO projects are using ERC20 tokens rather than shares. Either or. Let’s see where Safecoin goes.
Marketing is the key, and…
The MS team is now marketing: https://twitter.com/maidsafe/status/898591241360863233
Good luck team!
I was investigating Substratum, Storjcoin and Mysterium recently (https://youtu.be/LdlvQOXkZP8?t=340) and thinking about the effect on the Safe Network. Who will be the users of the Safe Network once it is operating. Universities? Wikileaks cloans? or Main Stream?
It will depend on how good is the marketing. The competition is good: If Substratum performs then their appeal to the wider market is obvious - the user keeps doing what they are doing, and they are easily convinced to use Substratum.
Mysterium and Storj will compete directly with MaidSafe components…
(decentralised networking including web hosting, file storage etc)
(decentralized cloud storage)
They are all technical offerings but this is not with how markets operate. Buzz is more important than performance (until it is blindingly obvious that there is none…).
I’ve been noticing that mainstream is now looking at Bitcoin. Goldman Sachs and JP Morgan have just spoken: “bitcoin should be part of your portfolio” … $36T in pension funds now have authority to look at their new “gold” option. But like gold, fees in handling Bitcoin are very high - 400 times more than other mainstream tokens. And there’s the lengthy transaction verification times. Both factors drive bitcoin away from everyday “currency” usage.
So Bitcoin grabs the limelight with a flawed technology - 48% “market share” by cap. The long term will determine whether the Main Stream will accept it as gold (with it’s flaws) or will the improved techs like Dash, Sibcoin, Litecoin and Bitcoin Cash come through and “erode the gold”.
Short and medium term, however, Bitcoin will shine.
So where will Maidsafe level out in this high tech, high stakes market place. A place where image comes first and performance is still not recognised.
If the pension funds move into Bitcoin, then bad tech won’t matter. Pension funds are buy and hold people. Waiting an hour, or a day for transactions to verify is no issue for them. The fees are what they pay now.
The smart money in cryptocurrency is only $150b. Hence small movements of mainstream into bitcoin will make a very large difference.
Now that Maidsafe will be soon activity marketing this will make a huge difference. Lets see if the activity can catch up with the recent ICOs listed above (STOJ etc).
BTW I also support a fiat/crypto project in Russia and we are focusing on hitting the top B2C interface there: Novikov restaurants. Patrons of Novikov represents more than 50% of all B2C businesses in Russia. That’s a sweet spot.
Another one I support is in Singapore: TenX
Once you are “in” this space, you need pathways to get “out”.
Good luck to the MaidSafe team.
(I’ll make this a new post for discussion, and like Rubert, looking for discussion on the progress and direction of the Safe Network project. It’s exciting to be involved with it).