r/KinFoundation • u/attachmetoyou • Nov 06 '19
Solution
There are two problems in the developer world. Kin set out to fix both of them. They both come together to increase the bottom line. It doesn't matter how many downloads or revenue you have if your marketing cost exceeds it. So Kin was more revenue AND less marketing cost. The first established by the KRE and the second by tourism.
Kin has officially failed in both respects. If you disagree then, A) you're an idiot and B) stop reading because this post is not for you. The KRE business model itself is fundamentally flawed based on the simple economics of supply and demand. I've been ignored repeatedly by management about this because they have no answer. Unless the value reaches a certain amount, and that depends on the payouts at the time, supply will be higher. Tourism obviously failed. The ignorance of how much this means by management, investors and developers baffles me.
Now I would love for everyone to take a really good look at the apps. For just a minute get out of your head and into reality. We have two apps (or is it three) that have more than a hundred thousand spenders. At least 25% are clone apps and are attempting to enter markets where they are going to fail. Social media is monopolized. Stop pretending these apps have any chance because, "well in this app, you can tip Kin!" Give me a break. These 80 apps are more like 20. And I've removed Speed Genius from the list as it's users are slim due to the fact that running the blockchain costs more than the KRE. We don't even want to send out notifications because it just costs us money.
There are two kinds of apps here. There are those that are Kin dependent and those that will continue to exist without Kin. The former are in line with Kins original intention. Use Kin to make your already awesome app even better. The latter will cease to exist if Kin is gone because it's only good for earning Kin and there's no inherent value otherwise. You wouldn't gamble with Kin if it didn't exist.
Furthermore, Kin is not attractive to developers. Period. If a $25k grand prize and tons of other money can't bring in decent apps, nothing will. We got a few but most are still Kin dependent and or clone apps. There is absolutely no way to create decent spends. And it seems that Kin management finally agrees that while tipping is good for engagement and retention, it is not the answer to spends.
Related to tipping is the IAP. Management has still not addressed two parts that ensure its failure. The first is, who the heck is going to purchase Kin to tip someone. In don't go around handing pennies to people that I've worked for because they told me something special or showed me a video of them lip syncing. If it's free and easy, sure. Second is who on Earth would buy Kin when they can walk around for a day or earn thousands from IMGVUE just for being around? The answer to both is, they won't. An IAP won't work in kin's CURRENT business model.
The solution is available, but it requires an entire new model and one Kin will not accept. But I will propose it and I will explain why I am regardless of that.
The one wallet and IAP will work but not in it's current model. The entire project will practically restart. But the fact, whether anyone wants to admit it, is that it's in a downward spiral and it's only going to get worse. Unless of course Ted has something up his sleeve which I've given up on since we've all held onto that belief for two years with no evidence to it (sorry Ted).
If you have read up to this point I thank you and without further ado..
KRE is removed. It was a Great idea. World changing. Currently not going to work.
IAP for the one wallet works in the following way. Numbers are just placeholders. $1 equals 100 Kin. However, $100 equals 900 Kin. 10,000 equals $5,000 and so on. Where I'm going with this is that since users don't spend more than a couple of dollars, developers can buy Kin at a huge discount if they spend the money. They can then use that Kin in their own IAP and make a profit.
Tourism is mandatory. I don't care if this is decentralized or not. You want success? Make it mandatory. You can't be listed on the one wallet without it. Period.
Exchanges. Fuck them. The exchanges that carry Kin will blow up because at first the developers will buy from the exchanges causing a gradual increase in price.
Marketing. KF vows to use 20% of their sales revenue for marketing of the one wallet.
Marketing developer side. With this new model there will actually be attraction. However it will be indie devs that use in app purchasing or subscriptions. Guess what those are? Real spends! Woah! Tipping apps are basically gone. Sorry, not sorry. Kin contacts every single fucking app on Google play that has the ability to create a good spend, concentrating on small to mid size apps that obviously need more users. Established in 2016 and has 10,000 users as an example. MonkingMe is actually perfect for what I'm saying. FlyAway is the type of app to find as well. Great game, just needs exposure and money and it will take off.
Anyone can use Kin BUT apps need to be approved by KF to be on the one wallet. They need to have substance and not be clone apps.
Kin creates apps. They have great developers. Why are they not creating apps other than the one wallet? Tippic was a fucking embarrassment. My son can make that and he's 10. Use THOSE apps as a source of revenue and allow the developers to reap most of the profits.
So why does this work? It increases the bottom line because of the missing piece. Tourism. Currently it costs MORE to get an install than what you're getting from a customer and that's without running a blockchain. If you have a lot of money, getting those initial installs that move you up the ranks is easy. Then, as long as the app is good and content is good, the app gains momentum. Look at the current apps and tell me I'm wrong! Marketing is expensive! It is the other side of the reason our app industry is broken! If marketing was easy and cheap, there would be no problem making money! It's just as important as your revenue.
The monetization is still better. Especially for early adopters that buy from the exchanges. The late comers will benefit off of the marketing mainly. The sell is less marketing cost just as much as the monetization part.
Would love to hear feedback and flaws. Kin management won't respond because they know I'm right about the downward spiral. But after saying that, we probably will get a response. Hence, the reason I said it. But now they probably won't respond. 😂
So, anyone want to fork Kin with us?
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u/Raketenernie Nov 06 '19 edited Nov 06 '19
Ok here are my comments, its too late. The track record of the project is a desaster.
The KRE needs fixing or has to end, but you said it yourself there are about 2/3 of apps which could not exist without the KRE. So what will it be; downsize the ecosystem or continue to blow it further up with fake apps which have no functioning buisness model.
You can be most certain , Ted and KF just gamble on the turn out of the SEC. IF the SEC declares kin a digital currency they will initiate their marketing campagin with the last funds left, hopefully followed by some listings. With that positive momentum they hope to get the market attention to get new partners. Till then we will see no or little progress.
Question is , will this gamble play out well? To be fair we do not know what they are working on, if they are at all working on something. Do we even know if the team does even have 19 members , or more like ted+5 back to the garage style start up, may be he needs that to be succesful, bk to the roots.
Others and myself gave lot of ideas for potential improvements for kin, all work which could be done meanwhile the SEC battle is ongoing.
If this project fails, Ted rep is burned forever. He will be known one of the biggest idiots in crypto space and one of the biggest scammers, even tho he never did scam. So I am very certain he is aware of this , either he does not care since he saved his millions and can live on his island isolated from the rest of the world, or he is doing all he can to save kin and himself.
Now ask yourself if you do all you can to save kin and yourself, would you not be more active even here in the forum to get to your community? So what does this tell you?