I've read them. I've also read their whitepaper (
https://socialx.network/whitepaper/). I understand what SocialX is doing and what they're trying to build. Also, I believe I understand fairly well this current reality of centralized social networks.
I disagree with you that "None of those points are serious pain points for any Facebook user." I think you didn't investigate the project deep enough.
I'll just concentrate on one point (No.8 "Reward the community with SocialX tokens").
How about you ask 10 of your friends would they move to another social network if somebody would guarantee them to be paid coupons (tokens) exchangeable for real money for the likes they get for their content. They could even like each others content and get paid for it (10 superlikes per person per period - probably per day). And all that money wouldn't come from their pocket, but from one giant pool full of cash that gets filled in by transaction fees, advertisers etc. Maybe try telling them this way: Tell them what if most of that money that facebook earns from them and that made Zuckerberg so rich - how about most of it being split to all users depending on the popularity and quality of their content. Tell them what if they would get an opportunity to get on such social network and they can get to join early and have a lot of time and little competition to build their popularity. That's like getting a profile of Kardashians that would be paid for every - in this case superliked - post, like Kardashians get paid for theirs. They just need to build their friends list and popularity up - and they get paid along the way. And, more popular any post they make - more $. And all that with no government censorship, latest and best privacy standards etc.
And they don't have to pay anything ever to get and keep that account indefinitely.
I think a lot of them would want to switch and even "aggressively" ask their friends to switch because that would get them more superlikes (more money).
I believe it's all marketing this SocialX project and they'll get money from ICO - because the sound foundations to build upon, the substance is there. And, the team already has experience in building a successful business. Good enough for me.
You're dreaming. I don't think you realize how little advertising money each user generates.
Facebook makes a lot of money because they have 2 billion active monthly users. Their run rate for revenue is $36 billion for this year. That's $18 per user per year.
Nobody is going to go through the hassle of moving all of their data to another app, AND try to convince all of their 300 friends to move, for $18 / year. The only way their 300 friends will move is if each of them convinces all of their 300 friends each, to move as well, and on and on and on.
Also, Facebook only started generating $18 per user per year. Four years ago, they were generating $4 per user per year. As their user base grows, more advertisers join in.
When you have 100,000 users, you won't make $400,000 of ad revenue per year. You'll make close to ZERO.
So, for your friends to be willing to spend the time and go through the hassle of moving to another app, they will make near zero dollars for the first several years. They can only expect to make $18 per year, IF AND ONLY IF, the app EXPLODES and becomes as huge as Facebook.
A new crypto currency only make sense when they help users save a lot of money or time, as in the case of remittances (eliminating Western Union) or gambling (eliminating high fees on each bet and eliminating multiple days to withdraw money).
Also, one small detail from their whitepaper: "SocialX is ready with all the documentation to be listed on exchanges. Currently, we’re in conversation with a few exchanges, working through the details; we intend to be listed on at least one major exchange shortly after the start of the ICO.
○ Binance
○ Bittrex
○ Bter
○ Poloniex
○ BTC38
○ Jubi
○ Yunbi
○ Others"
You, of course, will do what you believe is the best for you. Maybe you see some other crypto project more promising and maybe it turns out to be so. As for me, I already decided to join. I'm also participating in the ICO.
Are you saying that SocialX is only good for a PUMP AND DUMP?
