I invested some & it does look promising. But as an advocate of non-crypto-people I have some simple non-crypto questions:
Let's say people like to use this app. In the whitepaper I read they use Wicoins for this. Though as an investment incentive for cryptopeople this looks like gold when millions use this app, the price will fluctuate. Let's say you buy 100 WIC for $100, you'd have some expextations about how long you'd be able to connect. You don't want to buy 100 WIC and see one year later you can connect 5 mins with that amount? So price has to be flat, no?
Non-crypto people don't want to buy some coin at some exchange which fluctuates. They want to buy minutes of online wifi time with their paypal (or MAYBE in some future with some major non-fluctuating cryptocurrency like bitcoin). Just a coin for one purpose?
So how much I do like the idea, I don't see the coin itself getting much higher price gains (in the end because good ideas & good ico's ALWAYS get you profit in the beginning
) since it would harm the system/hold back its useability when a non-major currency is used.
Your thoughts?
Hey, thanks for your questions.
So first of all if the non-crypto people want to buy WiC to use it, they won't hold it for a year. If they do they are not really buying for using it but to speculate. Also, the $value that they spend will remain the same. In your example, if someone buys 100 WiC for $100 and pays $5 for a WiFi network and suppose the price/WiC decreases after a year to 100 WiC = $50. Now he will still pay $5 for that network but with 10 WiC instead of 5 WiC he used a year earlier. So the payment is $ value will always remain the same.
We have future updates planned that will allow users to buy WiC with credit/debit cards. Another thing we plan to introduce is have WiC reloadable cards (something like gift cards) that will be available at local stores so that the non-crypto people can buy WiC with local currencies and use them in the app without knowing anything about crypto.
Also, I wouldn't call Bitcoin a non-fluctuating currency. Crypto is new and volatility is part of it and unfortunately no coin today is immune to it. Hopefully in the future when the market matures, we will have less volatility.
Thanks!