Correct me if I'm wrong, but isn't catapult basically a rebuild of mijin with more features added, written in C++
I'm all for this coin and hope it does well, but maybe you guys can answer some questions since we've got some downtime in here.
Depends on what rebuild means here, but sure it is a re-architecture of the already superior features in NEM/mijin.
Mijin came out, and while it was a tech advancement and a great thing, it failed to raise much interest or movement in the market.
So why are expectations sky high when it comes to the release of catapult? Do you guys really think it will send NEM into the stratosphere once that feature is released?
What makes you all think that, other than hope that this coin does well?
It begets the question of what failed means. For all intents and purposes, raising interest does not necessarily also mean adoption. In as far as adoption is concerned, no chain is a serious contender.
Sending NEM into the stratosphere is a by product of the real intent. The real intent is adoption, and subsequently, recognition which leads to the real value of xem. Not in a moment is the core team worried about the value of xem, more so we are concerned if it can perform based on the requirements of mainstream industries.
If we were only interested in pumping xem, then there would have been no value in xem today. Time and energy were spent on building NEM than to pump. So, any movement in price may just turn up to be sterile now as the core team is bent on making it a great product.
The people who support NEM exhibits patience in the value of xem and it is their believe more so than a hope.
Not trying to troll, I'm genuinely interested in the responses as to WHY you all think we will see some serious movement and widespread acceptance.
NEM is technically superior to everything out there, of that there is no doubt. But the market doesn't always go with the superior product..
There is no superior solution out there in the market to start with anyway. NEM has something to offer that few have. And we are just starting. So, we are not wanting to think of any serious price movement as you would like it to be.
Our mantra is to keep going at it, and that is what we want to do. Not to keep worrying about the price movement of xem. It will come when it comes.
In a way, you are presuming we think like how you are thinking.
Taking things a step further, let's take a look at the top 10 coins.
The total market cap for the top 10 is: 14,070,943,757. So 14 billion and change.This will increase as the years pass, but nobody knows by how much or even if it's a certainty that it will increase.
Let's say that NEM muscles it's way back up to it's previous high of $115 million market cap, NEM value $0.01, and it would be at #5 marketcap.
Now let's say that NEM pushes it's way up to 3rd place, with a cap of $240 million. NEM value, $0.02.
Now NEM moves up to 2nd place, and manages a 1 Billion dollar market cap like ether had. NEM value, $0.11
It's gonna take a tremendous amount of time and new money into crypto for that to happen, because the others in the top 10 will most likely still be there.
So I'm really curious how far you guys think catapult will "catapult" NEM when it comes to marketcap and price, and just how you think it'll get there.
We'll let the market determine in the end. That is not what we want to work on to postulate and hope for the price hike. We are working on mainstream solutions so that we can work on the 7B people out there rather than trying to make ourselves well received by the few miillion people in this crypto space. When the 7B finally realise the value of crypto, they are more likely to jump in on something they have heard of, and it is NEM that we want to champion to the masses.
It is a blue ocean approach. You want new money and not old money. You spend your time and resources to get new money. And that's what we are trying to do.
