I agree neucoin is still in development. just like ethereum, it's not just about what is there the first week after launch, or how it's trading short term - it's about what you think it may become. I've said it before and I'll say it again: the only thing that matters is whether or not neucoin can deliver on getting millions of game-playing, viral, social regular consumers to adapt this thing.
But I agree, that it would only have potential about huge user-growth. And I see one scenario how Neucoin could have some use. But just as something like a fun-currency, without any focus on value. More like a "thump-up-button" with tips or as virtual-virtual-currency in an online-game or something like that. On a real and free market it's kind of irrelevant, because it's own economic-design is suffocating.
I think that exactly this - properly executed - would be huge. just huge. a widely spread "fun" currency for "super likes" and games etc with millions of new users adopting it - it would be enormous. and not like dogecoin, which was still by and large a cryptocurrency-community phenomenon, but in truly large numbers of normal users who know nothing about bitcoin or any of this. literally 10 million users and useful and viral. that would be such an enormous change from any cryptocurrency so far. in fact, if they could achieve that type of distribution that alone would make neucoin very valuable.
there was this interview with wences cesares a while back when he talked about bitcoin adoption and how it's all about critical mass, how email with 6 million users was just a curiosity, etc. and he mentioned these small, viral, "fun", casual, flowing types of behaviours as what would really could bring the masses in. not beating the credit cards for online shopping. not beating the banks for wire transfers. not anynomity. but this fingertip type flow of tiny little bits anfd things to do, eventually reaching critical mass.
I believe that's how cryptocurrency will become popular. and i believe neucoin could maybe do that, or at least that that's what they are seeing and trying to do. it's certainly what i see in it.
a few excerpts from the wences interview below:
"There are 6 million people in the world who have used bitcoin, and only 300,000 of them have ever actually used it to pay for something. So most people are using it as a store of value.
I believe that this is the perfect native internet currency. It has all the attributes to flow across the web and mobile just as bits flow, as information moves. And that can change the world, but not with only 6 million people. Maybe with six hundred million."
"Whats happening right now with bitcoin is very much like what was happening with the internet in 1992. Before the browser, someone looks at TCP/IP and says, oh my God, this thing moves information from anywhere to anywhere real time and for free! Its going to change information forever, so Im going to launch Netflix. Well, hold on. Yes, but not now. Not for 20 years. First we need much better computers, more broadband, lots of things have to happen. Same thing with bitcoin. Yes, it will change everything, but not now, not yet.
Email with 6 million people wasnt email, it was a curiosity."
"Trying to push payments now, trying to replace credit cards, I think would be a mistake. Like trying to push video in 1992. Dogecoin taught us a lot.
The kind of things they were doing, five cents here, five centers there, are where bitcoin can thrive. No fighting to replace credit cards right now. Enable the flow of tips and small transactions around the internet, that is the more natural entry point. We play tic tac toe online: I put down 50 bits, you put 50 bits. I win and buy a song. You leave me a little tip on an article because you like my comment. Its whatever, but it flows."
full interview:
http://www.theverge.com/2014/8/29/6082195/the-fort-knox-of-bitcoin-xapo-wences-casaresso, regardless of all these calculations it just comes down to whether they convert millions of new users or not.