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---- was in some kind of writing frenzy, so another post ----
XSN – Stakenet – what I think of it right now
I follow this coin since its predecessors beginnings, and am still surprised every now and then on how this coin, its surroundings (stakenet.io for example) and its as well as the whole crypto-community behave.
Posw wasn’t much as a coin, a simple pos coin, no mn, no extras whatsoever. But it had poswallet.com, which was meant to be THE online staking wallet for pos coins, as well as an exchange. And the profits were distributed through special rewards to the people holding posw on poswallet.com.
This coin was able to climb up to 20,000 sat (btc around 1100 usd back then though) with this very easy business plan. And I think that part of this success was exactly that very simple business model everyone was able to understand. Or to translate it in a very simple way to a normal person:
poswallet: company with a site offering different services as business model, shares(~coins) and dividends
And I think therein lies one of the biggest problems of XSN.Stakenet
→ it’s business model is not easy to understand. Easiest probably still the site (though its of minor importance compared to poswallet/posw) offering services in exchange for fees, which get invested into further development. A “dividend”/reward is an easy to understand incentive for buying a coin, development everyone understands is important, but also far more complex and not directly benefiting (indirectly it does of course) the holder.
→ So instead of the old sitecentric model, there came the new coincentric model. The idea seems to be pretty simple from a mn holder point of view – Someone hosts a masternode, therfore offering the chain services, which firstly gets rewarded as long as it runs and will secondly be able to earn fees for offering services within the lightning network for example as well. That is rather easy to understand. But the way to those services lies within complex development. And development just is not as sexy as a finished product. For me especially when there are different roadmaps on different platforms, few explanations on why some goals change (still waiting for the promised text on the whys of the roadmap change in september 2018). All this combined with some bear market depression state, I for one start questioning my decisions and try to figure out why the market seems to be in a major disagreement with me. In the end the market decides what will be the future and not the best tech(plenty of examples, but old vhs vs betamax standard illustrates that very good).
→ therefore it is of utmost importance to get people into xsn before there are more competitors. Since i’m believing the devs are doing great work – the ltcf cooperation speaks for itself – I am believing they will deliver a great product. But we are in an opens source environment, and therefore anyone able to follow one of the many guides how to make your own coin, can clone xsn at any given time. If newxsn got the easier to understand, better pitch many people wont care about the origin.
I love the great perspective stories, which were told in the early articles on xsn. How tpos could even get hedgefunds interested, which abundance of possibilities there will be and so on. I really do. But in this rather depressing market and people – myself included – questioning every single decision they were making, some reassurance for the short term future is very important. For me that was the cooperation with the litecoin foundation, for others it might be some calculations on how mns will potentially return, and so on. But to get back to the opener, there is no community consensus on what xsn actually is, and how to profit of it as it was with posw. I am not saying that I dislike the abundance of options, but I would recommend the xsn.stakenet team to make some polls on which features the community is most interested in (on discord for example), and break the most accounted for down for the public. Than do the same thing on twitter. I know that this kind of research is a pain in the arse, but knowing what the customer wants (to hear - especially in that situation) would help a lot. XSN.Stakenet offers something for everyone, so it should not be a problem to write some marketing according to what people want, even if it is not the most innovative feature.
Not even touching the extreme difference within the coins codes, which is like comparing my first tricycle riding experience to my first motorcycle riding experience, even though I know I was playing to be a biker with the tricycle. People caring about code should make their way to xsn sooner or later as long as xsn keeps up with its impressive work. There is simply not much to criticize.
I am happy with seeing the steps taken forward to establish the technical foundation of a whole new cryptoenvironment surrounding XSN.Stakenet, but I also think that the big picture is just too complex – at least in the way it is presented right now – as to entertain very many people.
And I think its time for a ceterum censeo:
please streamline the product and marketing. Same logos everywhere, same roadmaps everywhere, same infos everywhere.
