You are right in that it offers the best tech and is a drop-in replacement based on the roadmap. In order for eCash to fulfill its potential though, something has to give, otherwise it won't replace anything. I think a financial collapse of some kind would be necessary to drive adoption, otherwise why would your typical non-technical mom and dad even bother? It is not unreasonable to expect a major collapse of some kind to happen in the near future. That's not to say that I'm hoping it will happen. But it seems likely. If and when it happens, I expect eCash adoption to skyrocket.
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eCash is the embodiment of Satoshi’s dream. XEC not only achieved it but also surpassed it!
Do you think the development team will ever invest in building awareness and incentives with developers?
In my own opinion as a regular investor. If mass adoption happens that’s a real possibility.
I do not think it is possible for mass adoption to happen without developer adoption
The team has tried their best to raise awareness, but unfortunately, very few people in crypto care about anything other than making money, as opposed to reinventing money. Developers go where the money is, and up until now, that's been VC backed projects that have millions of dollars to attract devs who are just looking for a paycheck. It's been a problem for Bitcoin for years, which is why Bitcoin core developers keep leaving since there is no funding. But I am a believer in the idea that the best technology always wins, and I'm convinced that XEC represents the best technology.
Where we disagree is the idea that the best technology always wins. Network effects have proven time and again to be more powerful than pure technological superiority. Here are some real world examples: 1. Signal vs. WhatsApp/SMS Signal has superior privacy architecture and cryptography. However, WhatsApp and SMS had the larger user network effect and this proved more powerful than superior technology 2. Processor architecture: x86 Architecture vs RISC RISC was better, but the developer network effect with developers building apps for x86 processors made x86 win There are many more examples (SWIFT in banking, Windows vs Macintosh, et). Network effects win over technology.
I should rephrase. I think the best tech that solves a particular problem at a particular time. I agree network effects win, but I believe network effects arise as a result of the best tech. Up until now, the problem most people in crypto are solving for has been how to make number go up. Unfortunately that's been a zero sum game where VCs have taken advantage of retail investors to enrich themselves and the grifters they employ. But eventually, I believe people will look to solve the problem of money, namely cash for the internet, and when that time comes, I think eCash will be the solution people are looking for. Also, I think this conversation we had on POW recently is relevant:
The best audio format is flac, but mp3 despite being inferior in quality is widely used. Something worth pondering.
Is your honest opinion based on your study of technological trends that network effects arise from the best tech? Or are you hopeful that they can arise as a result of the best tech? Facebook was better than Myspace and eventually grew a larger network effect. However, Myspace was so terribly run that the frustration of using it was so high that when a better platform came along people switched. Technology can be the swaying factor when the incumbent solutions are exceptionally bad. However, the equivalent for eCash would have to be something like a truly catastrophic collapse of fiat. A true economic crash of some kind. That is the only way I see eCash winning on a true "better money" argument. Otherwise simply pointing out how its better or purer doesn't seem to hold up if we look at how technology adoption evolves.
My opinion is just based on my personal experience. I'm no expert by any means. And I agree with you regarding incumbent solutions. If the dollar wasn't constantly losing value, and wasn't limited in what it could do for things like microtransactions and instant settlement, I would say crypto would have no chance. But the dollar continues getting worse, and I also don't think ai agents can use it as a currency like they might something like eCash. As a father, I'm also hoping that we don't have a true economic crash. I wouldn't want my kids to have to go through that. My hope, and it might be a long shot, is that we can avoid such a situation by having an alternative system that is ready to serve as a drop in replacement for the legacy financial system when that time comes. And I also don't believe simply pointing out eCash is better or purer is the answer. Maybe I'm delusional (my friends certainly think so) but the reason I'm building POW is I'm hoping to show people how eCash is better rather than just telling them about it. Right now POW has ~30 users, but imagine if we can grow this platform to 500 users, then 5000 users, then who knows how much it can grow? And all those people will be using XEC as a currency and be introduced to crypto the way it was always meant to be used. It's why I'm working so hard on this site, but I also know it might not work out. Lastly, the reason I think eCash offers the best tech is because it just makes sense to me. Like I said, I'm no expert, but I have yet to encounter another cryptocurrency project that has the scaling roadmap that eCash offers without sacrificing decentralization, security, or usability. I've also known the members of the team for years now, and they strike me as honest, intelligent, and passionate about achieving their goals. It's just my gut feeling, but sometimes that's all you can go on.
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POW is a solid proof of concept btw for a social media platform running on crypto and XEC in particular