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"why won't they do more marketting"
"this is such a good coin but no one knows about it"
"we deserve a higher price than this"
"Komodo is being left behind due to lack of acknowledgement. Should I sell and buy into hype coins instead?"
These are some of the many examples of complaints I hear, and I admit that I was once in that positing too. I mean, seeing coins with no working products, seeing coins that promise to do what we have already achieved have higher prices, what in the world?
I came to realisation that marketing isn't just about putting up a banner, or paying to have your logo shoved in someones face. If you haven't already noticed, the crypto space is still very immature. On one hand, you have scam ICO's paying for ads all over facebook and social media. It's gotten to the point where any ad is pretty much presumed to be a scam, and the only ones who fall for it are complete crypto newcomers, which isn't exactly the type of people you want to be buying your coin and dumping on the first sign of price decline. On the other hand, you have coins which promise to do everything, yet have nothing accomplished.
What we really need is an engaging community, a group of like-minded investors who want the best for Komodo, who are in it for the long run and not for short term pump moon gainz. Yes you can make a lot of money on a random luck of the day pumping shitcoin, yes some coins pump massively from making promises of what is to come in the future, but none of that is for certain. What is certain though, is that Komodo has achieved more than any other altcoin out there has to date. The technology is unreal, and if you want to stay up to date on the inner workings of Komodo, I highly recommend you to join their slacks/riot chat group. Personally I'd join their Trading, Scaling, Marketing and Announcements channels.
It is up to every individual to do their part. Stop complaining about the lack of marketing, and go out and spread the word about what Komodo is aiming to achieve. Inform people of the benefits of our DEX, spread word of our world record breaking tx/s tests, shill our security and dPoW, make little infographs, spread posters, reach out to social media influencers.
Yes, Komodo isn't anywhere near as well known as many other coins out there, but that isn't necessarily a bad thing. Consider this an opportunity to buy in and accumulate as much as you can before the big investors catch on. Everyone thinks they've found "the hidden gem" "the next x100 lowcap coin" "the next bitcoin", but this is the real deal. Make it a goal of yours to help out, because paid promotions and brainless shilling isn't going to bring in the investors, the partners, the community and the reputation that we want. We don't want to be another "WHEN MOON" community.
For now, hype is what drives crypto prices, but once the market matures up and all the vapourware/scam/useless tokens slowly dissapear, Komodo will be the one standing strong. We have the technology, now all we need is the community to bring us to the top.
Do your part for the komunity.TeamKomodo
Jl777 Informal Komodo Q&A Telegram 5/26/18
tl;dr in the comments full disclosure, I pulled this from Telegram and edited spelling and grammar to make it a bit easier to read, deleted comments that weren't related to this, and combined some comments that were sent as multiple separate messages. All to organize it for reading in this format. The content is the same.
Jakub Alex: Why are you here? Why you join crypto world? To waste time for reading? Typing with ppl? Or for money? Admin doesn’t care about ads and anything, he created kmd for his own experience and fun with developing project. Not for money. All cryptos are created to make money, kmd is bot, that’s why Project doesn’t work and it will never work until admin change his attitude.
jl777: Considering I started with $2000 of capital and somehow there is about a billion dollars of market cap now, it seems regardless of what you perceive my attitude to be, the ROI has been decent. I work to create an ecosystem that can capture 1% of the future crypto economy. maybe it will do more, maybe less, but that has been my long term goal. There is also a fully staffed marketing team now, I leave the marketing to them. My job is to make the tech that can solve the real world problems. It is up to the rest of the community and team to achieve whatever market cap such a solution should get.
jl777: I have nothing against making money, I am just not driven to maximize my personal net worth. However, I do realize that money is quite the motivator for most people and ultimately to capture 1% of an economy, there needs to be the proper tech and people infrastructure in place.
jl777: One way to think about it is that KMD offers the intelligent investor the ability to analyze the current landscape and get a very good bargain as compared to the eventual price. This then will allow the intelligent investor to justify spending their time and effort to helping KMD as it is in their best interest. If KMD was fully valued in the marketplace right now, the ROI will be random.
jl777: Of course in a bear market, to expect anything other than steady decline of prices is illogical, that is why it is called a bear market. The natural tendency is for the price to go down as the impatient bail out to the longer term hodlers. Then of course when the bottom is reached and the market turns, the same people that bailed out want to come back in and if they time things right they make incremental profits, if they don’t, incremental losses.
jl777: My "strategy" is to buy (or create), then improve it while hodling for years. This isn’t the maximum ROI as if I can time the market perfectly I could make 100000% returns. But I know I am not smart/lucky enough to time the market perfectly, so I don’t spend much time on market prices as we are in a decade long period of crypto being introduced to the global markets. Long term the vapor/silly projects (like pets.com) will fade away and the real projects (like Google) will survive and grow.
jl777: what was Google's ad budget their first 10 years?
Oozn: great vision, jl777. Which is why I believe kmd is among the most promising projects in crypto world. for those who seek short term ROI better go out trade shitcoins out in various DEXs, instead of trying to roast the project here.
jl777: Short term the KMD price is just following the general BTC market with random fluctuations thrown in. Much like playing dice games, it can be quite exciting, but to make any short term bets, is not investing. nothing against it and it creates liquidity so we do need that also. I just prefer a gradual long term rise with overall market conditions factored in. in BTC terms we are 350% up after a year and a half, which isn’t that great, but remember about 80% of the "ICO" was actually BTCD conversion and anybody from BTCD days has some really big gains and so maybe some are still in the process of selling off. This has the effect of a lower price in the medium term, but allows many new people to get KMD at reasonably small multiples from the ICO price. Which in turn increases the number of long term hodlers as KMD is just not a coin for most short-term traders. Though if you buy at 30k sats and sell at 50k sats, you can make a nice profit each time.
Buğra: The only purpose of kmd is that it's a privacy coin right? It doesn't have any importance while trading with HyperDEX or? Will kmd operate as a profit share token in near future?
jl777: Privacy is just one of many purposes, scalability, security via dPoW to BTC, cross chain smart contracts, all these require KMD. KMD is not a profit share token, though it does have 5% rewards for active users. Coin value is proportional to its network effect, not much else matters. BTC has value only from this network effect, KMD aims to get mass usage.
Buğra: What happens with profit made in HyperDEX?
jl777: DEX profits go to the DEX coin hodlers
Buğra Okay thanks.
[CryptoNinjaa, Komodo]: Fees from using BarterDEX / HyperDEX are paid out in kmd to all DEX holders. Just like the other assets that generate income pay the dividends in kmd. The asset chains that notarize onto kmd need to use kmd for that. Kmd is the most liquid coin on DEX. There’s lots of uses for kmd in this eco system that will add value to it. Usability being the biggest.
Buğra: It's maybe unlikely, but let's say btc gets less popular and the hash rate sinks (less secure network) is it possible to use dPoW with Ethereum.
jl777: dPoW can be done to other coins, we are not permanently locked into BTC.
[CryptoNinjaa, Komodo]: A chain is just a public ledger. Kmd will use the most secure to dPoW onto.
Buğra: Does it even need to be pow? Since we don't exactly know if PoS or PoW will dominate (or a hybrid version/other algo).
jl777: With BTC on pace to use 0.5% of the world's electricity by next year, it seems unlikely any other coin will come close. Nothing is more secure than massive PoW super optimized with latest ASIC. For example, if BTC electricity usage grows to 51% of global electricity, it seems impossible for any electricity based mining to get 51% of hash rate.
Chris Gerritse: Imo there's a big chance kmd will boom if Ethereum doesn't fix their scalability issue then erc20 projects will migrate to kmd. Seeing lots of erc20 projects trying to find solutions for insanely high gas costs and Ethereum’s scalability problems. Which is an issue they shouldn’t be focusing on. Their development plans are basically a cry for help.
Michael: So does KMD solve the scalability issue?
jl777: And by attracting such smart projects to the KMD platform, KMD ecosystem grows, without forcing mandatory KMD txfees (taxes) onto anybody. If you look at BarterDEX, which is coin agnostic, vast majority of trades are with KMD involved, even though we don’t force anybody to do that.
jl777: Two things people like are money and freedom.
jl777: If a platform can save a project money and gives them freedom, then as long as it provides the needed services, it will be a very competitive platform and path of least resistance and inertia will create more KMD usage, even though it isn’t forced. Just think of the simple dialogue boxes with default options set. Even though it isn’t forced onto people as they can opt out, an opt out will get something like 80% without being mandatory. The 20% that opt out likely wouldn’t have been happy about it anyway, so why bother to annoy them?
jl777: tl:dr just because you don’t force people to use something, if it is convenient to do so, they will. Yes, already an ERC20 token can create a KMD assetchain and migrate over. Additionally, we are working on achieving one million payments per second (we already did 800,000 payments per second sustained for 10+ minutes) that should be sufficient TX capacity for any project and most countries.
[End of Q&A]
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