Quote from: BrotherJ on April 06, 2017, 07:13:22 PM

Quote from: john_connor on April 06, 2017, 05:29:32 PM

Cosmos raised 17 million today in ICO. It's a steal that this is less than 10% of that haha

Moreover, what gets me is the fact that they stole Blocknet's marketing tagline "The Internet of Blockchains" without thinking anything of professional courtesies. Those who participated in the Cosmos ICO, invested in an idea, whereas Blocknet's DX is almost a finished product... I think I'll continue to hold my Blocknet tokens.

I think the problem is that if both Cosmos and Blocknet work perfectly then they're actually competing with each other in a race to the bottom for who can do the exchange cheaper. And other clones and competitors will also come out, so the value of the tokens should drop and not increase.

If you can do an exchange from one chain to the other for the equivalent of $1 on Cosmos and $1.20 on Blocknet then who would use Blocknet? And if Blocknet is cheaper then who would use Cosmos? Then all the other projects that do the same thing will come out to compete at a lower price.

The real reason Cosmos got such huge funding is that Tendermint works with a bunch of big banks and they got a bunch of huge whales interested who all invested huge sums. Their main advantage is that they may be able to convince their bank partners to use Cosmos over the competition for their blockchains to talk to each other, but there's a bunch of other big competitors coming with ties to big banks (like Polkadot) so it's not really clear that Cosmos will win just because of that.

When all these are out they'll all be competing on price is the problem-if you can exchange BTC to ETH on any distributed exchange and they're all secure and trustless why would you pick one that needs very expensive tokens? It makes zero sense, and you're also still competing against centralized exchanges. It can still mean that your tokens will appreciate in price, after all if a token is 10 cents right now people may be willing to pay a lot more to perform an exchange, especially since centralized exchanges charge much higher fees but the price can really only rise so much before another competitor steps in. Since a lot of projects are open source there's literally nothing stopping a competitor from just forking their own competing exchange.