Well planned, I really feel we are aimed far.
I have so many positive things to say but I will just comment on a couple points I personally consider weak . When you read my comment please consider my angle : I have a decently extended startup and merchant experience.
Where is the plan for e-commerce?
In phase 2 :
Imho, this cannot happen that early unless we add two milestones to phase 1 :
- Build or integrate with multiple payment processor for online shops
- Build or integrate a payment processor for physical shops.
How can we possibly go approaching business owners if there is no way for them to accept NuBits?
Before going to shops we need to get some adoption online, where NuBIts belong the most imho. Its a no brainer, and in this concern I invite you to comment on the CoinPayment proposal .
Imho, and please correct me if I am wrong, we need to plan and execute another phase where we get NuBits accepter wherever we see a coinpayments-ready shop (aka here) .
They can literally accept with two clicks, they are probably already crypto-educated merchants and for us, it is just the cost of one email. After we get some acceptance there, we can expand to non-coinpayments merchants.
And after that offline.
Imho.
Where is the niche? Who needs a 1$ coin?
I had problems identifying one or more clear targets in your proposal. Who are we aiming at? You mentioned previously crypto adopter. Thats fair enough but we need to be more specific, focus on a market niche and develop there. In any successful story of startups that scaled up, you can find this pattern.
To build adoption *we need to start by finding those markets/groups/individuals/organisations that are in desperate need of a stable cryptocurrency *.
Take a look at what people is saying here and here to get a rough idea . Arbitrage, remittance, loans, scratch cards, salaries, crowdfunding, coinpayments-ready ecommmerce, crypto-captchas with PoP are all good examples of what I meant above. These are all good markets, with different targets that will require a different toolkit : different campaign(s), different slogan(s), different software(s), same coin.
There is no way around it, otherwise people will just say “interesting idea, congrats” or “wow” at the most, or “NSR to the moon” . We don’t need that, we need markets to sell. bitUSD failed here and I don’t want to see NuBits failing for the same reason : look at them (and eliminate other kinds of concerns) : in terms of marketing, they are already in phase 2 or 3 or 10: they have a huge community, organisation, and biz dev. Yet, they market volume its below 1k $ at times. That’s by far less than the bar where I get my morning coffee. We need to study and learn from their failure to avoid being another.
Find a niche, attack it aggressively, listen to their needs and grow with them organically. We can’t just go out in the street to the average-crypto-joe now : I give regular workshops about cryptos and I learned that it takes on average between 4 and 8 hours for the average smart listener to be convinced that bitcoin can be a good idea. Its a steep learning curve and we are talking about an established reality such a bitcoin. I can’t imagine this with NuBits : it takes much longer to convince the informed user.
We need first to find people that need NuBits, hard, and selling to them a whole bunch of them. Take them onboard, listen to what they say and treat them as clients. If we don’t sell NBT, shareholders will eventually loose their confidence long-term.
We need to be successful in finding our early adopters, fast, and sorry but I will never stop repeating this. I am sure there is no need to cite research data backing my claims, I am sure you know already the literature.
What can we learn from others?
In the plan I would like to read an educated competitor analysis : where did they fail? Where did they do good? How are we different (or better)? Why is bitUSD market volume so funny? How do we plan in communicating those differences?
That’s the first question I get asked when explaining nubits . “What are other examples ? are you the first? how is it different?”
We need a clear analysis and strategy to be able to differentiate properly and learn from their mistakes and successes.
I am curious in knowing what are your considerations in the regards of my comments.
Sorry if I missed some parts of your posts where you already answer my questions in your plan, its sunday morning and I had little time but wanted to say this.
Cheers
