Correct me if I'm wrong, but isn't catapult basically a rebuild of mijin with more features added, written in C++
I'm all for this coin and hope it does well, but maybe you guys can answer some questions since we've got some downtime in here.
Mijin came out, and while it was a tech advancement and a great thing, it failed to raise much interest or movement in the market.
So why are expectations sky high when it comes to the release of catapult? Do you guys really think it will send NEM into the stratosphere once that feature is released?
What makes you all think that, other than hope that this coin does well?
Not trying to troll, I'm genuinely interested in the responses as to WHY you all think we will see some serious movement and widespread acceptance.
NEM is technically superior to everything out there, of that there is no doubt. But the market doesn't always go with the superior product..
Taking things a step further, let's take a look at the top 10 coins.
The total market cap for the top 10 is: 14,070,943,757. So 14 billion and change.This will increase as the years pass, but nobody knows by how much or even if it's a certainty that it will increase.
Let's say that NEM muscles it's way back up to it's previous high of $115 million market cap, NEM value $0.01, and it would be at #5 marketcap.
Now let's say that NEM pushes it's way up to 3rd place, with a cap of $240 million. NEM value, $0.02.
Now NEM moves up to 2nd place, and manages a 1 Billion dollar market cap like ether had. NEM value, $0.11
It's gonna take a tremendous amount of time and new money into crypto for that to happen, because the others in the top 10 will most likely still be there.
So I'm really curious how far you guys think catapult will "catapult" NEM when it comes to marketcap and price, and just how you think it'll get there.
Mijin is doing quite well and is a good product. I would happily test it in a side-by-side test with any other private chain out there right now and am pretty sure Mijin will win. But... the type of people that are looking into Mijin don't post on BTT and can't announce any building of any projects until they do so publicly as the are publicly traded companies and that affects stock prices and therefore insider trading laws apply. They also don't want to post on places like open interent forums exactly what they are doing and tip off their competitors. These types of deals takes seasons or even years to make from initial contact to final rollout. The team is working really hard everyday, so it is completely impossible to tell the effect Mijin will have on the blockchain sphere right now, or its effect to NEM.
When Catapult launches later next year, it is very possible it will be the only great private chain. The things the devs have thought about and developed are so far ahead of other platforms IMO that I haven't seen anybody thinking that far ahead. Also, while getting 1000's of tx per second is hard, it is not the only hard thing. That is just one bottleneck in a ledger solution and the devs are addressing others too. This is why somebody might claim their ledger is fast but in reality, it couldn't be used in the real world.
I'm not going to tell you that XEM will be worth x amount on anyday, because I can't simply know that, but I can say I still hold all my XEM since launch plus more that I bought, and I think it will be worth more in the future. NEM has 4 full time devs that are really good and know what they are doing. Most other platforms have maybe 1-2 and some part-timers, some of which don't really know what they are doing. There is a lot of work being done on NEM and when you see real businesses wanting a real blockchain to build on, we will be one of the best choices they have.
