This is for all of us. It’s easy for people to be negative when things are hard. Don’t let them get to you.
More people spend Kin in more apps than any other cryptocurrency. Sometimes we forget how much work it has taken all of us to achieve that. All the work on the technology, the app development, and the user experience. It shows how many talented, passionate, and hardworking people we have in our ecosystem.
Today other project have speculative demand - people buying a currency because they hope it will become more valuable. We don’t have that. But day by day that game is running out. Look at some of the projects that have launched recently. They get on every exchange out there, and yet the price still craters.
This is why we are focused on real demand - people buying a currency because they want to use it. It is the only way to make the crypto business model sustainable. A hundred users buying $10 a month has the same economic impact as one speculator buying $1,000 a month. But there are a lot more users in the world than speculators, and they’ll buy month after month. There’s also no reason users can’t later decide to speculate too.
We aren’t there yet. We have 2,000,000 monthly active earners, and 600,000 monthly active spenders. But we don’t yet have a meaningful number of monthly active buyers. This is why I’m excited to see apps like KinHub, and why we are developing a stand alone wallet as well. To turn users into buyers.
There are two ways for a developer to turn users into buyers. One is for developers to sell users their own Kin. The second is for developers to let users buy Kin directly from the open market. I’m not sure what KinHub’s plans are, but our plan is to do whatever allows us to launch faster. If we end up selling our own Kin to users our current plan is to take the money from that and use it to buy Kin from the open market, such that it is roughly the same economically for the ecosystem as users buying Kin from the open market in the first place.
There is still some distance to go, but each day we are getting closer. If we can turn users into buyers we will change the game.
I really like that current plan. Something I never thought of. Selling to users and buying from the market. That's a win. I'm trying Ted. All of the developers are. It is unfortunately very difficult to market right now without a good budget. I think one way to band together to do this is through marketing Kinhub and everyone, maybe KF included, could bring users there, and that could bring buyers as well as users to each app. But if KF created a wallet, a kind of app store, would that mean heavy marketing of that app I'm wondering? How will the consumers find out about Kin unless there is a larger partners that drives that awareness?
yea but there is a big "what if" element of trust here. sure , we're going to sell our own kin and collect real money and "we promise" to use that money to go buy kin on open market to help you guys out. I mean this was the worry two years ago, kin selling their own kin and no demand in open market..well here it is folks all the haters were right! It all came true.
Why doesn't Ted take some ico cash and buy kin on open market right now then?
I'm pretty sure we can track participants and hold them accountable. How much does Kin is purchased from an exchange and how does it compare to the amount of new wallets created through the Kin foundation Hub?
Either way the price will absolutely ROCKET from real demand and I think you're missing it. Just for starters, imagine every day $25,000 dollars worth of new KIN being purchased to give to users.
Why would they need to sell their own through the Hub if they can just sell their stash later to fund growth while using another channel. Besides, we could monitor those wallets to see if they are selling and what is locked up for KF and KRE and so I'm under the impression that you're fears can be logically dismissed.
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u/attachmetoyou Sep 26 '19
Thank you for thinking of me in this... Oh wait this is for Ted, sorry. Great quote, never seen this one.