In your opinion what does #DigiByte need right now to become on of the top five coins in the crypto economy?
I think that we need to decide who to market it to, Merchants or Users. Either one will do because if there is demand Merchants will adopt it. If Merchants make it available, more potential Users will see that & investigate what it is.
For Merchants:
- More user friendly blockchain analysis tools, to be able to gain info on who is buying what, when, what other products that user is buying etc.
- A way of selling/redeeming larger quantities of DGB into fiat without affecting the market price & driving the price down on themselves when converting (increased trading vol would solve this)
- A lite-wallet or Merchant oriented online wallet (similar to exchange) so that non-tech minded Merchants can use it w/out downloading the blockchain and/or worry about which exchange is safe to use etc. A service like Bitpay would be ideal. Basically we have to remove the requirement for Merchants to be tech-minded.
For Users:
- Anonymity. I don't want stores to be able to analyze my habits so easily to be honest. If wallets are identified as belonging to certain merchants then entire spending histories are out there to be seen. There are several companies now doing big data analysis on btc spending habits in order to sell user info to merchants. If Digibyte is to be a POS solution then this is something to be aware of/address moving forward IMHO.
- An easy way to spend on the go. This is a tough one, but the Android wallet is a good start. Apple have said they will allowed "approved digital currencies" which makes it sound like the choice of which they allow is up to them. Also, I wonder what will happen if Apple change their minds in the future & suddenly disable a wallet app. Would there be any way to recover those lost coins?
- Historically, increased DGB trading volume always pushes up DGB price. 2000BTC /day is not realistic, but perhaps 100BTC /day is. I believe (just opinion) that 100 Satoshis is a big psychological barrier. Since we came down from 300 I believe the big pushes have always stopped in the 90s. Getting back up over 100 may be the thing we need for people to realize DGB's potential and try holding more rather than just speculating.
As for becoming a top 5 coin, the price jump this week temporarily pushed us up to a $650,000 market cap. That would've put us in 38th spot on coinmarketcap (currently 53). I would like to see us hit a $1.000.000 cap again, I think it's a good medium term target & would give us appeal to both people in the crypto world as well as Merchants.
Not all of my ideas above will be possible (some are opposite like the anonymity vs analysis thing) but personally I would like to see some degree of anonymity given that DGB is supposed to be a POS solution. For big ticket items I can't say I mind because that is exactly what credit card companies do now, but I don't want to worry about having my spending habits analyzed when I'm out buying milk, or shopping online. Merchants can't analyze cash, so they shouldn't be able to analyze DGB users either. (although as above there is a relatively strong case for the opposite).
In one breath you say: "For Merchants:
- More user friendly blockchain analysis tools, to be able to gain info on who is buying what,"
In another breath you say: For Users:
- Anonymity. I don't want stores to be able to analyze my habits so easily to be honest.
Are you on drugs?
You might want to read things properly before making silly comments like that in the future. Ideas are ideas, and I had taken the dev's original question as a request for brainstorming rather than just one-sided opinion
