Post
Topic
Board Announcements (Altcoins)
Re: [ANN][Exchange] Latest Cryptsy Additions, News and announcements
by
LittleDigger
on 04/09/2013, 04:02:53 UTC
Let's take the time to express the case for SXC. It's been around since the 28th of May and is stronger than a lot of other coins on exchanges. It's not shrinking as some coins who are listed on exchanges, but experiencing steady growth. It is being accepted by a couple of sites that aren't run of the mill like altcoin casinos. It even out-lasted "porncoin" which competed directly with it...

PhenixEX listed SXC on the 2nd of September, without consulting the developers and it is trading at .00003 from a high of 0.00006. It did reach a low during an initial dump of approximately 400,000K coins, which was surprisingly small even to us. It's volume far exceeds any other coin on that exchange although with 16,000,000 coins created, it appears most miners are choosing to hold.

In an ongoing poll it is presently rated 11th most popular coin out of approximately 123 coins. It's hashrate is 24 M/H and slowly growing  

Why ?

I'll be the first to admit the client is nothing special.. yet. The Development team hope to release a new client in a matter of days which will be different from every other client, having incorporated a feature the adult industry advised us they needed. This won't excite the cryptocommunity, but it has excited the targeted users of the coin.

The single most valuable atribute of the coin is the industry it targets.

The gameing industry experienced difficulties, particularly with piracy. Anybody could copy a CD. The industry moved towards a subscription model, where the game itself was relatively cheap, but a monthly subscription would be required to play online, and finally there was an explosion of microtransactional business models, where the game was free to play, but the income stream depended on the sale of many small additional items within the game. "Farmville" is an example of the success of the microtransactional business model.

The music industry is an example of an industry which has struggled with piracy, and again if you pay to download a single song, you are participating in a microtransactional business model.

The Adult entertainment industry, unlike othe entertainment industries is struggling to introduce microtransactional business models. Many sites are already using a "in house" currency, but a cohesive payment system that can be used across the entire industry didn't exist. Until SXC.. and the industry is estimated to turn over between 10 and 14 billion dollars annually.. SXC has potential.

At this point there may be those considering churning out a client and competeing with us. I welcome you..

This is because the other thing SXC has that other cryptocurrencies don't is ... people. We have one developer who isn't too familar with coding clients.. But he does have an intimate knowledge of the industry, the special requirements that should be coded into the client, and how the currency must be intergated into sites for adoption, as well as contacts within the industry.

And yes, we've had exchanges voice concern over our branding and demand that it be changed before it was accepted. But SXC isn't branded to appeal to an exchange. It isn't branded to appeal to anybody in the cryptocurrency community at all .. It's branded to appeal to the users and owners of sites involved in the Adult Entertainment Industry because it's end goal is to be used in online commerce rather than speculation.

I'll admit we have a small development team, though it is much larger than most, and we work hard. But once again we have something some other alts don't ...a real community. We have talented people who are passionate about the coin and want to contribute to it's success, so we have our "graphics guys" and "fedora guy" and a wealth of skills and knowledge to assist us in development.

Finally we have an attitude that other developers don't. We are geniune and passionate about what we do and reflect that in our dealings with our miners, pool operators and supporters. We are inclusive and try to consider the input of our community members, and honestly convey our progress even if it's "bad news". We actively engage and support them as much as they support us.

And if progress seems slow, it's because we are willing to take the time to do it right, because we don't want to do it over, and we are willing to make long term investments in our project.

Unfortunately SXC going to an exchange has pre-empted the development team, so we are approaching all the exchanges before the time we planned. The question we are asking is will SXC be seriuusly considered for inclusion upon Crypsty, or be dismissed out of hand despite the growing evidence that it's the right sort of payment sytem, targeted at the right sort of industry, and has serious potential.