NEM has a massive fund set aside for marketing, so the potential is there. How I feel is we have 1 shot at doing something right, why should we rush it? Should the development team start spending marketing funds now while we still have features in development, or should we wait and market heavily after v1? I'd expect the latter to be more effective.
It's like spending money on an ad, "Hey, buy this car. One day it'll go 100 miles on the gallon, but right now we're still working on that feature."
I think if we pump money into marketing right now, it will mostly be targeting the "investor" type of people. The hype will cause a lot of buying pressure, causing the price to go up too fast. If the v1 features aren't rolled out in a timely manner we'll see a lot of disappointed holders, lots of complaining and we'll likely see a very slow devaluation back to pre marketing levels.
If we don't rush this, and take it slow I think this will happen. More than likely we'll see the antsy "investors" selling early, remember these are the people that are only here for the money. The development team will ninja launch features and over time we'll see a slow healthy growth in price while bringing in real USERS.
It's like spending money on an ad, "Hey, buy this car. One day it'll go 100 miles on the gallon, but right now we're still working on that feature."
I think if we pump money into marketing right now, it will mostly be targeting the "investor" type of people. The hype will cause a lot of buying pressure, causing the price to go up too fast. If the v1 features aren't rolled out in a timely manner we'll see a lot of disappointed holders, lots of complaining and we'll likely see a very slow devaluation back to pre marketing levels.
If we don't rush this, and take it slow I think this will happen. More than likely we'll see the antsy "investors" selling early, remember these are the people that are only here for the money. The development team will ninja launch features and over time we'll see a slow healthy growth in price while bringing in real USERS.
i fully agree, and i think most of the team does too but i obviously cant speak on there behalf. advertising at this stage would be closer to spam really. i looked into advertising costs on the likes of cointelegraph and coinmarketcap and some other sites, but the cost i think far outweighs what ever benefit we would get. once more features are rolled out and the marketcap is higher, only then would spending large amounts of money on advertising be a worth while venture. until then, we should focus on producing ground breaking tech and getting the platform to stage where it can be used for a wide variety of uses. so in that respect, it really doesnt make sense to blow huge amounts of funding pre-V1.
I think NEM would see serious action if at least some of the top devs / whitepaper authors (particularly the PhD guys) went public with their identities. Reputation counts for a lot - especially these days. Many people dont pay attention to what you do unless there's a big name / university attached to it - then they read what you put it out and follow what you say. A proper academic working paper formatted the way academic papers usually are - with the identities and university affiliations of the main authors - could help give XEM some of the credibility it needs to rise from the sea of anonymous crypto coins that many people dont seem to take very seriously anymore.
Makoto (a core dev and inventor of PoI) has been to conferences representing NEM and has been attending NEM meetups in Japan.
Other people like myself also use real names too and also attend meetings and conferences.
I had hosted two NEM meetups in my locale, but not advertised on Bitcointalk (people I networked with in crypto). Last meetup had special guest who created first Doge ATM in whole world and knows a lot about crypto. Meetup has a lot of beer and entertainment (playlist from YouTube
)I also attended a Bitcoin meetup in Africa and will write an article on it(like one I wrote about Prague). Maybe when NEM is a bigger name I'll publish for it too.
Jokingly I want to invite Spoetnik to a meetup but he lives 6 hours away in the desert
If crypto becomes bigger I'll need to host a troll convention Glad to see they refilled you medication!!
Happy to see you back!!
Seriously though, being involved to this extent is very great to hear. Thanks!
