Title. Why should I "invest" anything into this?
The only reason to "invest" now would be if you think the USD value of Bitcoin may drop in the future, because you will get the ATH of Bitcoin in USD since your deposit. So if it goes down to $200 , you'll still get the value it is today (~430), whereas if you wait you won't. The current state of the project when it comes to information is poor so until that is addressed I don't think anyone but people that have been around the project a very long time actually know what it is about. So if I was like most people who knew not much about MicroCash I would definitely wait until putting any Bitcoins into it. We are trying to address the information problem with a new site design and information.
Instead of investing any Bitcoins you could just invest a bit of your time to get it another way. I'd actually prefer if most people got it that way instead of buying into it. And the more help we can get the quicker it can come out. At the moment I am doing web design because we cannot find a developer to do what we want, when I really should just be doing the C++ stuff .
The current team doesn't need much to "Survive" with running servers and such since I have already donated a fair amount to cover that stuff. And I'm sure with whatever does roll in will easily cover some years of operation on top of that. The Bitcoin method of getting MicroCash only exists for those who are time poor and want MicroCash without putting in any time, it doesn't exist for any other reason. As you can see with the distribution of the MC there is no one getting any kickbacks for MicroCash and all the Bitcoins that are used by the team will have to be publicly addressed. They aren't going into private pockets to be used for personal wealth.
I personally don't think much MicroCash will be created in the seed due to low interest and baggage from the past. But that will not limit its ability to be successful over the long term as it can scale economic wise to meet demand. I believe with any new financial technology that despite the marketing and all that crap that people will only start to "trust" something once it has been around for some time and works as advertised. And since what MicroCash is, is the best of what any digital p2p currency can be on a technical level, it can exist in that space and at worst only have near equal competitors. So there isn't much reason to care about initial lack of interest unlike other projects that need that "big bang" at the start and hope it continues. If you look at Bitcoins launch it took some time to be accepted, it took people prodding and poking it to understand it and then put money into it.
Nearly every digital currency besides Bitcoin has really not done that well in my opinion - at least in the long term. There have definitely been a lot of "very successful" launches that turned into not much. Maybe you could argue Litecoin has achieved some long term success. Ethereum is very popular at the moment and who knows the future for that is either. It is a good time to be around crypto now because unlike in 2011 when I initiated a lot of new ideas people are a lot more receptive to them. The downside I guess is there is a lot more noise and competition now.
I should also mention that since MicroCash will launch with a free open source license the ability for anyone to simply clone it with better marketing and brand exists after launch. And I am ok with that, though I know not everyone one is. But I want the entire project to be free to the world, a gift of sorts that hopefully can push forward the crypto-currency space. So that could be another reason not to "invest", you could wait until after launch and see if someone, or maybe even you, takes the technology and makes something better with it.
I feel like I wrote too much to such a simple question. Sorry.
thanks. do you know when MC will go open source?
The source will be released publicly the same day the actual currency launches. I would prefer it was open source now but I know from my past experience with things that there will be people who take it before it is ready and claim to be "MicroCash Xtreme" or something like that. I'd prefer that to only happen once it is finalized.
Once we are out of ALPHA and in BETA we will be tweaking the core system and magic numbers in the economic code to get it ready for launch. We will also be running a couple tests to prove the efficiency and power of the transaction system. The aim is to break a world record for total transactions per second, or at least beat highest ever Visa volume.
"I personally don't think much MicroCash will be created in the seed due to low interest and baggage from the past."
baggage? I say brilliance, your exchange was as fast as anything, and only ever had the one flaw of closing. Mcx was one of maybe 5 crypto places out of dozens that never gave me a problem.
And so what if it takes you years to paint a masterpiece, cant fault you there, most people don't even try.
if I don't send seed money it's because I'm btc poor or I forgot.
Well the reality is there is baggage, even if the majority of it is just made up stuff from trolls.
But there are facts like that I said I thought I would finish the project in 2012 and I didn't. Or that some people donated to the project and I didn't complete the project in that 2012 timeframe I mentioned, like there was some implied contract there. Some people seem to not understand what donations are or what time actually means to a coder - especially on a free project. Though I believe I did deliver the things I did say I would at the time, like a beta, but after that I run out of motivation for a variety of reasons. Burn out is hard to explain to people who haven't experienced it. There is also the criticism I made in regards to Bitcoin that hurt peoples feelings, I get blamed by some people for the 2011 drop in Bitcoin price to $2. And when finances are involved it is hard for some people to realize something isn't true that they think, because a lot of people don't want to blame themselves for their own decisions. It is also a fact I showed disrespect to Bitcoin and some people in its community. I said some stupid things, I still say many stupid things. I should probably learn to shut my mouth more!
I actually returned the donations of some people that asked, but this stuff doesn't really get advertised in the community. The people that matter to me know my character and I've been dealing with trolls for decades so that side is just part of doing anything in the public realm. There are always people who will try to bring you down, no matter what you are doing. I don't get upset at those people really because they can't help who they are, they have a disability or sucky life so if trolling me makes them feel better, so be it. The funny thing is the donors and supporters themselves are the ones who are usually the most ok with how things are and can understand. It is the outside "white knights" / "Social justice warriors" who think the supporters and donors got the wool pulled over their eyes by me.
So it is probably best to not say anything when it comes to delivery dates as raising peoples hopes and expectations can lead to people getting upset. It is also why I made sure that people can get out of the seed if they want after some period of time. Those bitcoins aren't going to be used to make anyone wealthy - like pretty much all currency launches appear to do, it is just a way to help fund the project going forward. And since I have already donated a lot to keep the project going for some time we don't even really need that. It is why I don't care, personally, about how many people buy in because it is kinda irrelevant outside the whole "oh wow so much Bitcoins went into MicroCash because people think it will make them money" buzz.
My own expectations of MicroCash is that it will not be successful in the way that most people call success, at least in the short term (<12 months). And I don't want to pretend that it is anything other than what it is.
There are a variety of reasons I think this, I think this technology is too ahead of its time. That's not some backhanded attempt to praise how "in the future" it is, I just don't know if there is such a demand for this stuff just yet. And since there is no real kickback to people with MicroCash it will be harder to get people behind it due to the lack of money making potential. Which makes up the vast majority of the crypto community currently.
There is a niche group of people that are trying to push the cryptocurrency wheelbarrow up the hill but most people are just in it for the money. And if MicroCash doesn't have an attractive money making potential, which I don't think it does, then you will not get that same "Hype" behind it.
But the reasons I am doing it have nothing to do with what other people attribute success to. For me its about challenging myself to beat the existing systems. To beat Visa, the central banks, etc. Not beat them in the way of taking over their whole market but just technically beating them. I find that exciting, and at the same time if I never do this project it will always be on my mind, which to me is a problem I don't want to have. I don't want to be talking to people in 5 years and be all like "man I know this tech that can do this stuff better" like I have been for the past 5 years.. I also want something instant and secure to trade with on the exchange, something I don't have to worry about being double spent. So whether MicroCash does that or the technology/code is used to do it in another product I don't really care. It will push forward the wheelbarrow a bit and that is all I want to do. I try to learn more from people like Satoshi that didn't try to get personal glory, fame, or wealth from the project, he did it just to push shit forward.
But I could be wrong and now is the right time for it. That is part of the fun, because if you knew everything why would you ever do anything?
I think it is the right time for the microcash technology.
During the last couple of years so much progress with blockchain tech has been made but there simply exists no technology on which services can be based on since every single project ran into scalability or long term issues.
If you look how many different backends have been developed autonomously to each other putting very much manpower in for the effort to gain some kind of uniqueness for marketing purposes nobody concentrated on technical real world matters.
I have not analyzed eth in depth but can say people simply like it because the marketing states you can let machines pay for services (even if blocks need to get confirmed and any technology could do so).
I am not sure why people want to let machines pay autonomously since this includes a high risk to spend more money than you want to spend but if your fridge can order fresh milk then let it do so!
I am a big fan of minimalistic solutions for big challenges and microcash does this (no external libraries, open design to add service related functionality, reliable and fast).
Keep on doing this great work and let your vision come true!
I saw the recent Eth presentation where, I assume a top level Eth dev or person spoke about automated rent using their smart contracts. The first thing I thought is they are solving a problem no one actually has. It is why I believe it may be too soon for the next generation crypto stuff. Whilst things like Eth and Nxt are "Next generation" in the features they have added over Bitcoin (by default) they are still using generation 1 technology at their root. But that doesn't mean they always will, so I don't hold that too against them right now. I see so much of myself from 2011 in the developers of crypto stuff today.
Thanks, I have a high level of motivation at the moment to see this through, I just hope it stays that way until it is finished. I agree too, without a simple, efficient, highway all the rest of the stuff is pointless. I have no real idea why Eth/Nxt/etc devs don't realize this. You can't base your system on the assumption that faster CPUs, cheaper HDDs and abundant RAM are just always going to come, because they may not, or may take much longer than expected. We need scalable solutions today.