You don't have enough scale to drive a crypto currency.
That is true at the moment because the app has not been released or promoted yet, so we have 0 scale. However, in the event that the app takes off, I think our concept could be a great way to introduce people to the world of cryptocurrency.
Yes but you are not going to create enough diversity of uses and acceptability of your coin to scale up. Bitcoin had all the media in the world and also all the tech people wetting their pants and begging retailers to accept Bitcoin. And there was a massive speculative fever in Bitcoin in 2013.
You need to be partnered with many others who are doing similar and diverse kinds of apps and services with crypto currency. Thus you need to partner with a crypto currency which is capable of driving such a diverse interoption. This will also make the cryptocurrency aspect more enticing for your users.
Unfortunately I don't know of any serious altcoin (that has serious innovation that can challenge Bitcoin) which has some sort of partnership program like this. Perhaps Bitshares. I think I read something about an affiliation program, but I will warn you that I think Bitshares is a flawed technological direction. Afaik, NXT doesn't have anything that can help you in terms of partnership of distributing a common coin unit such as NXT (although it does help in creating your own coin).
Currency or other units of value can be used to purchase things as you say. But they can also be held as an investment, particularly if you have reason to believe they could increase in value (as might be the case where coins are indirectly linked to rapid stock appreciation foristance).
Without driving the currency adoption, you are just repeating the gimicks of other copycoins. Perhaps if you can get 100,000 verified users, you can gain a speculative frenzy and cash out and run. But it is very, very unlikely you can drive this to widespread adoption because it will require being able to code all the aspects of a crypto currency to make opportunities available to others who want to do what you are doing. You can't just make your own little world of copycoin and expect to achieve any ongoing network effects.
Also creating an altcoin that has something significant enough to compete with Bitcoin is a very significant effort. I'd say 100 times more work than creating an app. And a lot of specialized knowledge that for example an expert developer such as myself took 3 years to assimilate.
If we are sucessful in aquiring the millions of downloads we envision, and we incorporate the coin into our app in a compelling way, I think community interest with spring out of that, particulary if the value of the coin is linked to the success of the app.
Thank you for responding:)
If you start with the word "millions", then I think you don't have any plan B and are not doing due diligence marketing. You should instead have a plan to monetize your app even if you only get 100-1000 users per month. So that you don't put yourself in such a "do" or "die" proposition.
Another thing is that you should focus on the value your app provides to users. The crypto currency can be a way users can vote (they pay microtransactions). This adds value to your app.
But much better you could tie your scaling to 100 other developers who are also tying their scaling to yours. You should not create your own private copycoin, if you are really serious about this.
If you are just deluded or doing a pump & dump, then let me not waste any more of your or my time.
Since you are talking shares anyway, why not simply issue so many common stock shares that they are tiny value per share, comparable to a cryptocurrency value per coin or maybe less since shares have no decimal-places they are whole things, integer things; issue the shares on an existing platform such as HORIZON or NXT or Ethereum or the like, and use the API of that platform from your app to let people earn shares.
-MarkM-
Issuing shares means he can go to jail for
issuing unregistered investment securities.