Having hard time understanding how ChonoBank is aiming at 10k BTC and komodo received what? 1700 fresh BTC? I would really suggest you guys to start promotions ASAP even if the product is almost ready. Not so many people have even heard about KMD, look at the rate of thread post here and there. Don't be afraid to spend some of those funds, one of the goals to collect them was for promotions as I understand. Please do. I know the campaign will start soon, there is no need for "soon", do it now. Time is of the essence here.
P.S. Heat is out in 4 days, halfbaked, but aiming for a lot of similar goals.
I agree with that.
Dont make the same mistake as nxt in the first years. Great tech but without decent promotion.
Andreas Antonopoulos : "If they try to stomp on bitcoin, they will discover that bitcoin was a little gecko technology, like Napster was the benign file sharing technology. When you stomp on the gecko, it becomes a Komodo dragon and then bites off your foot next time you try to stomp it"
I do not doubt the technology you create, the ambitions are there too. If all goes as planned, this could be the biggest coin after eth.
Grasshopper eats grass, gecko eats grasshopper, iguana eats grasshopper, komodo eats everything that moves, I understand that.
I was just suggesting to get as much media on-board not after komodo is ready, but rather now. It would only help in a long run.
What komodo needs is a massive influx of users and liquidity, otherwise the whole platform 'might' not work as advertised. We can put all efforts to achieve that goal under the umbrella of 'marketing', but some very effective options involve things other than media and advertising. The goal is viral growth, so studying how other projects have achieved that is useful for the community now. The tech will work as intended, I have no doubt about that, but ONLY after reaching the user::liquidity critical mass reqjired to make things work. I fear slow growth in users will stifle the tech, which will then be copied by someone else.
So, let's borrow ideas from other projects that achieved viral growth, how did they do it? If we fail to do this, komodo fails. Some coins can survive a long time without a lot of users and still 'work', but with komodo I don't think this is possible. The komodo 'magic' jl777 has created needs a large network to work, so imo this should be priority number one!
Yes, marketing is important, we need to work hard to showcase our platform.
We need a liquid market for the KMD <-> BTC pair, because that is the gateway to PAX fiat assets. To sell or buy EUR, USD, etc. you will have to buy/sell KMD too (if you buy with BTC).
Our DEX however doesn't need mass influx of users in the same way a DEX based on proxy tokens would. We will have liquidity provider nodes that will bring us the liquidity from the central exchanges. A user can buy something through our DEX with zero counterparty risk, and the liquidity provider balances the trade through a central exchange, for a profit of course (market making). Thus the liquidity provider node takes the risk as it has to keep some funds on the central exchange.
Anyway, our solution is designed to make the decentralized exchange a reality. No exchange can succeed without liquidity and convenience, the zero counterparty risk feature is just a cherry on the top that people will appreciate if everything else works.
Yes, I mean liquidity for the KMD::BTC pair so the pegged fiat currencies work as intended, that's the jewel in the crown that can actually attract professional currency traders from outside the cryptosphere. The DEX is awesome, but it's preaching to the converted (I.e those already inside the cryptosphere), the PAX can open eyes to a whole new audience and have appeal to people who would not otherwise be interested in trading cryptos. My understanding is if pegged fiat currencies work, then other real world commodities could follow. I'm thinking BIG, much bigger than shapeshift on steroids.
