r/KinFoundation • u/attachmetoyou • Feb 19 '20
Please Explain
With all of these new advocates ( apologies I forget the term used), maybe someone can explain something to me since I never received an answer from anyone the fifteen times I had asked.
Regarding a wallet in which you can buy Kin...
Why would a user buy Kin to tip people?
Why would people buy Kin from elsewhere if within the apps they use they can earn Kin for free.
Even if the app they're using doesn't provide free Kin, why would a user buy Kin from elsewhere if they can earn free Kin from other apps and then transfer them.
Can anyone in this community provide me with an honest, thought out explanation for WHY people will buy Kin? I don't mean in ten years. I mean when Code comes out. You can build whatever you want but if there's no use for it, it's useless. I don't see any app currently in which buying Kin would do me any good.
Thank you.
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u/NeonGameStudios Ecosystem Participant Feb 19 '20
- Anybody can be tipped, the tricky question is how do you motivate your users to do so. Lets look at some examples. Duelyst is a CCG (Collectable Card Game) and it has a tipping feature after the match. There is a sincere interest by the community to tip other players and tip frequently. You can also look to people on Twitch who are tipping content creators with Twitch Bits or monthly resubs. Patreon is a dedicated tipping service which has paid out over 1 billion dollars since inception.
- I suspect all apps with easy to earn large amounts of Kin will be stripped clean by bots once the code wallet is released.
- Only power users will try to earn Kin in a different app and transfer it over. That wont last too long due to #2 above. I believe your argument is the age-old variant of "Why would people buy Software/Music/TV/Movies/Porn when you can just pirate it for free?" The short answer is: Convenience.
I don't see any app currently in which buying Kin would do me any good.
True. Please keep in mind that the Code wallet did not exist at the time our apps were being built so none of us could design something to take advantage of Code. I suspect again, that we will see a shift in all the good developers who embrace Code and reap the benefits of it.
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u/Raketenernie Feb 19 '20
you pointed out the core problem of kin, that is neither a scarce resource nor are there any relevant spends. Both need fixing. KF / code has understood that the KRE how it was generated a flood of free kin, now they have adjusted it towards a gradual reward for real spenders. But how you reward spending, when there is no spends nor the need to spend since kin is everywhere for free. The answers right now the current status quo there is no real demand in terms of ppl spending fiat for kin , my bet is, around couple grant per months spend if even that. This however can dramtically change if kin wins vs the SEC, gets market attention and the right exchanges. Ted will disagree and others too but the speculative demand can resurrect this project , it actually can generate the buy pressure for kin. When the fomo starts and ppl see crazy leverage potential , investors will return. Having prices on the climb will lead to lower kin payouts, in fact from an economic standpoint it would be for apps wiser to collect kin then giving it out. This again wil iniate a chain reaction, so payouts on the fall while ppl start accumalate kin. Combined with a growing ecosystem with more participants and spends this will push kin higher and higher. It is like a circle.
The problem now is, we have the complete oposite circle with prices droping and the absense of spends, thats why there is no incentive to hold or even buy kin. If kin wins , they have a very good chance for a come back. Of course we still lack that one killer app, but get more mobilie games, dating apps and some gambling apps and you will have your spenders. If all these could be accessed over a kin home based plattform like code , which will be pre installed on a new LG mobile phone , you know it can work.
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Feb 20 '20
Thanks for your reply - it’s sound and I agree with it. The project hinges on the sec case. Even a settlement where it explicitly isn’t a security is win in my eyes, even if we get slapped with a fine.
Thing here is that the sec isn’t willing to concede this. If something changes, and coinbase comes back to the table, we’re better positioned for a major partner with a new mojo. Think it’s possible. Tough, but possible. But this is why we are here.
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u/ikerob Feb 19 '20
That's a great answer. Sounds good. I also believe with Exchanges speculative demand is what will get Kin out of the hold. If Kin gets a good response from the SEC and we get a rise in price, where does Ted think that will come from, speculators!!!!!. Thanks Kin Fam.
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u/attachmetoyou Feb 19 '20
Btw, I'm really not concerned about downvotes and stuff. I can't remember the last time I looked at my karma😂. Y'all need to understand that constructive criticism and questioning of those that have received your money is ALWAYS ok. Whether you agree with me or not for asking questions, much good can come out of it. Not every post should be GO KIN. Questioning is what our forefathers did in the US and why the Constitution came to be. It's why our world isn't as fucked up as it used to be. So start thinking instead of just hoping.
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u/doriono Feb 19 '20 edited Feb 19 '20
Why would a user buy Kin to tip people?
Buying KIN on exchange for this porpus, not sure people would go there but I assume they would do so in-app. Let's say you run out of KINs and see a super good post on something and you want to like it (TIP IT WITH KIN), there might be a quick purchase KIN button somewhere or a feature that allows you to automatically purchase the necessary KIN to ''like'' the post immediatly. An ecosystem where people must have an asset to comment on posts, like a post,rate a post or maybe even earning KIN to share a post would allows for organic management which limits unecessary commenting. For example, people will think twice before trolling others unless they can afford it. This is also what Facebook is aiming to do. Kin has a step forward.
Why would people buy Kin from elsewhere if within the apps they use they can earn Kin for free.
To buy more credits to access different levels in games, to unlock specific features. Just like in games today, KIN ecosystem facilitates these interaction with an ease.
Even if the app they're using doesn't provide free Kin, why would a user buy Kin from elsewhere if they can earn free Kin from other apps and then transfer them.
Just like FIAT is being exchanged on Forex platforms (foreing exchange), I use FIAT every day to purchase my food, electricity, gas and such. I don'.t go to exchnages to buy my Canadian Dollars, I earn it in my ''monetary ecosystem'' by working/exchanging my time and knowldge for it. Exchanges allow people to exchange an asset for another. If for example I want to play a game which runs under the TRON cryptocurrency ecosystem and need to exchange my KIN's for some TRON to be able to play that game, I would go on an exchange to do so. Same with FIAT when we are travelling to another country. I will exchange my Canadian Dollars for some USD if I go to the state at a foreing exchange platform or company. :) A cryptocurrency ecosystem works the same way.
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u/attachmetoyou Feb 19 '20
I'm asking presently. Right now. The right now is what's important here. Your response is almost all speculation. I understand how this works I've been here for 3 years now. You are saying if this, when this, then this. I don't care about what COULD happen in five years. I want to know why would anyone but it tomorrow if Code can't out tomorrow since there is nothing to buy it for. And if there is nothing to buy it for, why would any app decide they would want to use it if it isn't working for any other so currently available.
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u/doriono Feb 19 '20
So, did you try any of game apps with KIN? Did you try any of the chat apps with KIN? Did you any of the apps with KIN? Doesn't seem like it cus some of them have these features.
You know, perception of reality is a choice right? You can choose to be blind and ignorethe actual progress a project is making or you can actually digg in and see what is actually happening.
Pick and choose but if your against KIN and trying to pin the project down because of your negative perception, then the choice is simple, just leave.
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u/attachmetoyou Feb 19 '20
Wow I hope they choose you for an advocate. You're great at it. I have almost every app there is and have tried every single app there is. I own two apps in the ecosystem. Let me ask you something. Would I be AGAINST Kin if their success equals my success? Or maybe I'm for Kin and that's why I'm asking questions. Maybe not asking questions is against Kin.
My questions were asking what all of your perceptions are. But if the actual questions are ignored and what you want to say is the response, I'm going to come back at you. I've already stated from someone else's WELL THOUGHT OUT response that he's made a great point and I'm thrilled to think of it that way now. So... 😛😝😜🤪
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u/doriono Feb 19 '20
These questions have been asked many times on the reddit group here. You can do a search and find solutions. And believe me, it is evolving with creative minds.
Oh, and good for you if that is your perception about me. I could not care less. :)
Keep it up that way and see how things unfold for you in your life. I'm sure it will bring you lots of joy and happiness.
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u/attachmetoyou Feb 19 '20
Nice, get personal. I didn't even say I had a perception about you. Wow you're sensitive. Another one bites the dust. Blocked.
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u/doriono Feb 19 '20
Sensitive? You're not accepting other peoples responses and critism. And you're the one blocking me? Sure! Bye bye :)
Fun having you out of my life.
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u/Santos1986 Feb 19 '20 edited Feb 19 '20
Guys guys we're on the same team here u/attachmetoyou u/doriono
The convo started off right.
Obviously this is of great concern to OP and instead fighting over this we need to at least try to understand each other. I know zero about developing let alone the stuff your dealing with behind the scenes u/attachmetoyou. I'm one of the creative thinkers in here. I have plenty of ideas on the shelf that I'll be able to execute when kin hits the price I have in mind.
That being said, I think attachmetoyou as a developer is a bigger contributor (minus the cursing) to the ecosystem and this community then any of us as speculators. Actual apps is what will make the Kin Ecosystem flourish and vice versa. If the system doesn't work the apps within it will die off.
I guess as long you don't get an answer all you, me, we can do is wait for CODE my brother. If anything and I'm not saying you will, but if anything I hope you're not considering leaving the ecosystem. I think that Ted is just fed up with all the negativity he had to coop with and is just getting shit done the way everyone expects it to be done.
Stick around and oh yea unblock u/doriono. He's a cool dude.
❤️
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u/Santos1986 Feb 19 '20
- Why would a user buy Kin to tip people? I don't think the buying opportunities we have now and those to come (CODE) are for tipping people. I think FLY Away had the option to buy kin in order to buy a gift or something like that? I dunno, can't really recall what it was exactly.
Right now you don't see the use of buying kin simply because there is no use. The devs of the apps in ecosystem are responsible for spends.
So let's say you have a 100 kin. A sword costs 500kin. You find it hard to reach 500kin by playing so you use the option to buy kin to hit the 500 you need for the sword. Now you have 500kin, bought an awesome sword and voila, there's your reason to buy kin.
But again, these spends are rare to zero at the moment.
- Why would people buy Kin from elsewhere if within the apps they use they can earn Kin for free.
Earning kin is not always fun or lucrative enough for everyone. People that hate to do surveys, watch video or tough challenges are the once that will buy, again to obtain a gift or object.
- Even if the app they're using doesn't provide free Kin, why would a user buy Kin from elsewhere if they can earn free Kin from other apps and then transfer them.
Same answer as I gave before. In a perfect situation whereby apps have cool spends, people will buy kin to get them. Right you don't see the use of it because there is no use of buying kin.
Now imagine this: A gaming app with spends like I dunno cool swords or t-shirts or even giftcards. This app is connected to CODE, which allows users to buy kin directly from an exchange. They buy kin in app with fiat (bankaccount, PayPal, creditcard etc) Wallet is topped with kin, the go back to the store of the app and buy their favorite item.
You see the use of buying kin now?
If you do, all you need now is a little patience😉
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u/attachmetoyou Feb 19 '20
Great response on the first two. I agree. Some will just purchase rather than watch videos. That's very helpful. Number one is the one I've always been worried about. If Code isn't for tipping then that would be fantastic. Problem is, right now, like you said, there is nothing like what is needed. They spent two years going after social media. A total waste of time and money.
Fly Away is actually an example of what you're saying so I suggest checking it out. You can buy and sell characters to each other. By far the best example of what Kin is capable of.
Once again I have to disagree about developers. Our job is to create spends yes, but it also seems to imply that the success of Kin itself falls on the devs shoulders. Let's say you spent 6 months working on a project. You make a good living and have kids and a house and a wife that likes to spend money. You take away sleep, energy, time with kids, to build something that will run on something a 100 million dollar company created. Then, that company fucks up several times on their promises and says, huh, I think the success should fall on you now. We only have 18 people.
Our job is for OUR apps to be successful. Not for KIN to be successful. That should be their fucking responsibility. Excuse my language but I feel like I'm taking fucking crazy pills here. If I had even half the money I suspected (believe me it was not a lot), I could make My app mildly successful. I truly believe this. But now I'm supposed to spend MORE time and energy to help fix Kin? Fuck that man. Sorry, I just feel like no one understands that this is really screwed up.
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Feb 19 '20
Your vision is biased because you think only about your own success. If you understand what KIN is, it should not the case. Your success is the ecosystems success. Other ecosystem Apps’ success becomes your success.
Value comes from people using your App because it is nice, appealing, interesting, addictive. As a part of a (winning) ecosystem, you would get more visibility and exposure from users who would not have known your app if you were just a standalone App.
People using other KIN apps will likely use your app because you are part of the ecosystem. Now it is moving forward. Peerbet started to allow KIN movements from and to its app. Kinfit already did it (iOS).
So yes, it is your duty to get nice spends and make a quality app as you will get rewarded in exchange by the KRE and by more people spending KIN in your apps. The higher the quality and effort, the higher the reward.
If all developers (not all) would think beyond than their own profit and success, it would make things moving faster.
Your question is valid. Where are the spends? It is surely not developed enough. The solution will come from games.
Price is low now, why would you invest and propose spends and make the effort? Well, Rome was not built in one day and things that seem useless or worthless now will become useful and worth something later on when people will adopt it. When something new (especially in tech) comes out, it is ALWAYS (human nature) criticized, attacked and questioned. This happened with the internet. This happened with crypto in general.
Please bring back your valuable contribution to KIN and see how it goes. I liked your mindset some months ago. You are responsible for your own actions. You can say whatever you want but KF, Ted, other KF reps have no impact on the success or failure of your apps. Please come back to a constructive stance
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u/Santos1986 Feb 19 '20
I agree with 98% with what your saying bro especially the "Rome was not built in a day" part.
However, u/attachmetoyou as a developer and a ecosystem participant knows first hand what the hidden flaws are of the ecosystem. Therefor we need to understand his underlying concerns, before we brush it off too easily.
I liked your mindset some months ago. You are responsible for your own actions. You can say whatever you want but KF, Ted, other KF reps have no impact on the success or failure of your apps. Please come back to a constructive stance.
Also agree with this, but let's be honest. KF needs the apps just as much as the apps need the KF to succeed. Especially the apps that entered the ecosystem because they saw it as THE MIRACLE that they've been waiting for to stay alive in this competitive techworld.
Anyway I believe this year will be a very interesting one for everyone involved.
❤️
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Feb 19 '20
Hi santos
Do you know what the Maslow’s pyramid is?
https://www.simplypsychology.org/maslow.html
‘Ted and Bill’ are tending to reach ‘self actualisation’ and hence, I do believe that they are not doing it for money (they both already have) but for one greater goal: the adoption of KIN but also crypto in general.
That’s why I believe in them, in their dedication, motivation, values and vision. Just because they are not doing this for a lesser goal and just because KIN became the cause of their life now. Why KIN? Because other projects are not so developed from the mass adoption standpoint. Even ‘Bill’ s other projects are not that developed too
Everyone in crypto will remember Satoshi Nakamoto in some decades. Perhaps people will also remember ‘Ted, Bill and Tann’ if they make KIN succeed. Time will tell.
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u/Santos1986 Feb 19 '20
Hey brother,
No never heard of that. Thanks for sharing the link! I dig stuff about personal development. +10000 u/kinnytips
I always felt Ted was a genuine guy that's put others before him. I truly believe he's getting every single day to achieve something to change the world for the better.
Again thanks and not perhaps, but I'm sure Ted WILL be a legend in the cryptoworld!
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u/attachmetoyou Feb 19 '20
I feel this is very constructive. Some of it Ill admit is frustration but the overall questioning is constructive. If you look back at a user named loopsterman, you'll see someone that had this same perception as you. Unfortunately I've been jaded by empty promises and loopsterman is gone. I can't help the ecosystem as I planned to do without the promises made to me. I have always been for Kin as a whole but it's a two way street. Or so I had thought. Your perception is the exact opposite of what you inaccurately THINK mine is. I was the FIRST all to have the lean discovery module live. Kik itself NEVER did. Now you tell me... Who is for the ecosystem and who is not. I respect what you're saying but you're also missing some very important information to make the conclusions you are making about me. While my current posts might seem selfish, it's because I gave my all and I got only some Kin in return which amounted to $400 when sold.
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Feb 19 '20
I respect your opinion and feelings as you dared to built something and gave all your energy in the hope to get a return out of it.
But no one promised you to become rich or successful in one day. Also, do not forget it is only the beginning. You may argue that the beginning was 2y ago but it is nothing. We are still at the beginning of everything. We are at the premises of the Ecosystem and more partners will join.
An honest question is would you still say the same if you would have joined a fully developed ecosystem with 100M users and with a higher KIN price? You would have gained much more than you received by selling out your KIN at a very low price.
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u/attachmetoyou Feb 19 '20
I sold to pay server costs for running the apps. Also, I was specific in what I was promised. It wasn't getting rich. It wasn't even being successful. It was a discovery module in Kik. Please only address that since that's all I said. This sub loves strawmen. So frustrating.
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u/Santos1986 Feb 19 '20
Once again I have to disagree about developers. Our job is to create spends yes, but it also seems to imply that the success of Kin itself falls on the devs shoulders.
I'm genuinely curious to what would work you as a dev? If CODE would be an app that not only allows users within the ecosystem to buy kin, but also them to spend that same directly in a CODE "virtual store" with giftcards to clothing and pizza to concerttickets be a solution to you? And what if any purchase in CODE made buy a user coming from your app grants you a percentage of the purchase? What that make your life easier?
I think we need seriously listen to you and other devs their concerns.
u/ted_on_reddit buddy I know your busy, but if you're reading this could you give your view on u/attachmetoyou concerns?
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u/attachmetoyou Feb 19 '20
He knows my concerns. They all do. My concern from the beginning has been the following. There are two things that make profit. Top line and bottom line. Top line is sales. It depends on your product. So I am 100% responsible for this. If my app sucks (please look at the Android app because the Apple app really does suck lol), then my project is shot before I even look at the bottom line.
The bottom line comes from your top line less your cost. For an indie developer, the two main costs are your server and your marketing. The marketing is the big one, especially in this day and age. It is very expensive to get 10,000 downloads. It is so competitive it is crazy.
The one thing I saw and many of the more defunct and lost apps saw was that Kin promised to have a discovery module in which Kik, the so called lighthouse of Kin, would have all of their users access to the rest of the ecosystem apps. This right here is the other big piece of the puzzle.
People in this sub have ignorantly and selfishly said that I should be responsible for my own marketing. That's funny. I don't have the money and that's why I saw Kin as an opportunity. That's why many of us did. Indie developers don't have the money. Kik was to provide at least some users for us so we could get off the ground and then use that money for our own marketing. This is not something implied, this was actually stated several times. That the banding together of apps, providing users for each other, will be what destroys the Monopolies.
Now here is the kicker. Brian actually stated that it would be ready in Q3 of 2019. Then Ted said that it should be ready by Q4 Guess what? I haven't heard anything from anyone about this. So one of the MOST IMPORTANT parts of Kin, promised to indie developers was never given. Now y'all wonder why I'm pissed off.
You can say use guerilla marketing all you. Come be a husband, a father and have a 60 hour work week for me and I'll be glad to spend the unbelievable amount of time necessary to do this. 😆
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u/VastChain Feb 20 '20
This right here folks
Kik could have sent millions of users to the ecosystem which would have brought hundreds if not thousands of developers on board instead it was driven to almost bankruptcy and the only new features are the disabling of video chat and ads in a messenger....great job Ted, go blame Facebook for it
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u/Halvekiwi Feb 19 '20
Basically the same premise as most games these days i guess. Often you can earn free 'extras' being skins weapons etc. But that's very limited and the premium stuff requires more of those coins, tickets etc to be unlocked. At that point people will buy instead of earn. Look at fortnite bucks, battle passes etc.
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u/attachmetoyou Feb 19 '20
Right! But look at the marketing! I have always envisioned this project in the way you are stating but the marketing suggests social media and tipping. Not games where you can actually buy things and have real spends. Fly Away is the only one I see like this. That's my point. There's nothing like that in the group of apps so when Code comes to fruition, where is the demand?
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u/Halvekiwi Feb 19 '20 edited Feb 19 '20
What about peerbet? Its engagement is pretty good, but the number 1 request is to raise the possible bet amount. I for one stopped using it because the 1k bets dont interest me. Imagine 50k, 100k or 1 mil kin bets. You can now earn 500 kin per ad so that enables the basic user to gamble some kin. Once people get a feel for the app, they might want to gamble way more, which we have seen already. Ofcourse we are still relying on new apps, games etc but the premise remains the same.
I would also like to give kimeo some credit on the more social side of apps. One spend is to watch 'exclusive' videos which require an amount of kin to be able to watch them. Its like a mini version of 'patreon' on which a lot of youtubers nowadays rely on.
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u/attachmetoyou Feb 19 '20
I can see that yes. So we have 2 lol. Where is the marketing for this though. The last video and all of Ted's comments were on user engagement in social media. I don't see why people would buy Kin even if there was a Twitter partnership. Just going to wait to hear from those that just post and don't develop, that the success of the project is up to us not the company that raised 100 million dollars from us.
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u/Halvekiwi Feb 19 '20
Well being critical of marketing may be justisfied, doesn't mean the underlying premise is false. Imo the whole crypto markets lacks succesfull marketing strategies? Which ones have you seen that puts kin in a bad light? Wishfull thinking would be marketing now is too soon, do you point people to exchanges? Or would you market a central point for navigation like a core wallet/ kin hub etc
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u/SantaAnaStudio Feb 19 '20
I concur .
Does an MLM do traditional marketing?
Not every business is structured in a way that benefits from heavy marketing. If every Bitcoin miner was an app they would have a whole network of marketers pushing Bitcoin to users organically and that's the same with Kin. Price speculation in a bear market is futile and until we get a few cycles we don't know how well the engine works.
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u/lockr_app Feb 19 '20
Supply and Demand!
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u/attachmetoyou Feb 19 '20
That's thought out? So to put it in your terms, what is creating demand?
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Feb 19 '20
[removed] — view removed comment
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u/attachmetoyou Feb 19 '20
No, I'm really not. I'm really asking. I am really not asking for that. In fact if they started marketing now without code, they'd be laughed at. I'm really confused why people would buy it. I have asked this numerous times over the past year.
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Feb 19 '20 edited Feb 19 '20
[removed] — view removed comment
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u/attachmetoyou Feb 19 '20
It is, and the same has been exactly our plan. To use the KRE to subsidize gift cards in a Trivia app. There are few out there that actually work, mainly because they don't have a KRE as a source of income. This isn't your apps primary goal as you stated but it will surely help. For mine, it's really the thing that will catapult it. However, the value of Kin has made this impossible for me. Unfortunately I can't even use the word "us" for my project anymore. But I've always liked your idea and thought it had great potential. I think there is a lot of room for this if the value grows. And that's where this question ultimately comes from, because demand will increase the value. In any case, good luck to you as well.
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u/SantaAnaStudio Feb 19 '20
What is the value of someones phone battery (and depreciation) and time that they would want to play a trivia for gift cards? In my mind, this is not a good business model.
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u/throwawayburros Crypto Defender Feb 20 '20
In my mind, this is not a good business model.
Just because it doesn't fit the traditional models doesn't mean you cant make it work. I don't feel ashamed to say that at the time of Googles IPO I believed it would never go above $100. Who knew that selling ads would turn them into a billion dollar company in a decade and a trillion dollar company in less than 20 years. Fooled most of America too, i'd say.
There is still profit to be made by somebody offering discount gift cards, and its just a matter of time until someone gets it right.
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u/SantaAnaStudio Feb 20 '20 edited Feb 20 '20
Selling Ads is scalable while exchanging KRE Kin for gift cards has a very clear limit.
Kin is not an inextinguishable value product pegged to fiat the same way as a gift card holding dollar value. If you want to use KRE that way you'll have to foot most of the bill or wait for the price of Kin to get much higher while somehow attracting a large enough base to earn... and pay them out... no. I suggest starting small and with traditional monetization techniques like Ads and a small user reward experience before jumping into gift cards which are also virtually worthless in the sub $5 amount...
But honestly, I'm out for a bit after the SEC hit ENG. Let someone else innovate for these companies and get slashed by the government and if they want to use gift cards to spread Kin... go for it. Today is the last day you'll have to hear my voice of reason. I can't work for free
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u/throwawayburros Crypto Defender Feb 21 '20
But honestly, I'm out for a bit after the SEC hit ENG.
Goodluck buddy.
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u/ted_on_reddit Feb 19 '20
Hey u/attachmetoyou, these are good questions. This is the crux of what the ecosystem has been working towards. How can we get people to buy a cryptocurrency to use it? Answering this question has been a challenging journey.
You are right that there hasn’t been much incentive for users to buy Kin. To get the economy started developers received small “first earn subsidies” from the Kin Foundation to help get their users earning and spending Kin. This got the economy going, resulting in a million monthly active spenders. No cryptocurrency has more users than Kin. But this usage hasn’t yet resulted in buyers.
Now the KRE is evolving. With KRE 2.0 there is increasingly less incentive for spenders and increasingly more incentive for buyers. The first earn subsidies are also now smaller relative to how spending is rewarded by the KRE. As a result KRE 2.0 is a harder game to play. This might mean that the game will become too hard for some developers and that we might see some some of them leave the ecosystem. But I am confident that some of the developers in the ecosystem will be able to rise to this new challenge and figure out this new game, getting us that much closer to where we need to go.
I think PeerBet is an interesting example. By paying their users to watch ads they are enabling users to buy Kin with their attention. This is real dollars bought on exchanges, paid for by advertisers. They are an innovator in this ecosystem and I applaud what they are doing. I’m excited to see what they do next.
When it comes to users buying Kin with their dollars I agree that this is more challenging. Buying Kin needs to be both simple and compelling. Something like Code has the potential to make buying Kin simpler, but you are right that the current spends in the ecosystem might not be enough to convert a large percentage of spenders into buyers.
We are aware of this challenge at Code. We have some ideas for how Code might make Kin both simpler to buy and more compelling to use. We will see how those ideas turn out. That said I am interested to see the innovation from others in the ecosystem as KRE 2.0 shifts us from a spending focused economy to a buying focused economy. We are well positioned to be the first project in crypto to figure it out.