So i have been absent for some days, and since there has not been much of a change in the posw markets, here are some explainations why.
a) The Btc Price.
Many people believe, that if the btc price falls the altcoins rise. That is a little too simplistic, but generally true. Of course the main price for comparison rises when the btc falls, but this does not necessarily translate into rising value in € or US $. Furthermore the bitcoin network is completly fucked up, and i will never understand, how so many people are able to trade with a coin that takes like forever – even with high fees – to get from a to b. And this fucked-upness obviously translates into rising prices of faster currencies with proper marketing.
The most important thing to profit from btc problems is to be known in the community. It is nice to say hey fudders we are no scam shit coin we have a hardwallet, but as long as the main marketing efforts are in their own slack and the news site on the exchange offers next to nothing, as well as there is no development blog or whatsoever, there will be no new explosion in posw price but an implosion, because it gets understandable to dump a coin that promises so much and delivers a lot and gains “nothing”. The markets and communication channels of our time are just much too fast as that someone would bother searching through the slack of a coin to see that its potential is quite alright. This is something i have to see first thing on the homepage. And i do not care for how many addresses were generated on poswallet, but how many were dividends paid might catch some attention.
Nothing is worse than stagnation. And that is what holding posw feels like at the moment. A steady stream of nothingness, which tells everyone, ok that is posws natural habitat, something beyond 10 cents, quite impressive if you bought till march, somehow bad now and really bad for those buying at 15-20k sat (back then about 17-29cents). So there is no marketing, which reaches anyone but people already owning posw, and there is absolutely no real market movement since May 9th, and ten days stagnation gets currencies of the radar of most people.
d) Better trading options
There are just too many coins that are interesting for traders right now, so posw just plays a minor role. That would be acceptable, but since poswallet.com is an exchange as well and the posw is just so fucking unattractive right now that posw are getting exchanged for almost every coin – even sprouts are having a small comeback, since even they have reached some new people and they obviously think that sprouts are having at least a brighter trading (this is always a near) future than posw. So PosW manages to get its market cap lost to other coins on their exchange. But never forget, that at least every single trade increases the profit of the site and therefore the dividends.
e) What the fuck is PosW right now?
Nobody knows how the bonus-dividends were calculated in april, which is not good for trustworthiness. And there will be a new dividend system. Nobody knows how it will work, but why should someone bother explaining – and NO neither posw-buybacks nor bought memberships are a proper explaination for those fucked up bonus shits, this just increses doubts in the financial structure of teh exchange. Would be really fucked up if some company was paying out dividends from their magic fund that is not in the balances. Sounds like money-laundering somehow. Pretty cool marketing move to pay bonusses and get a backlash from that. And if you encounter a problem with the dividends, yeah just tell people we have changed it to be more like a pos system, but dont worry explaining how, because that makes it a lot less shady looking. Just tell us how they will be calculated and get you balnces and monthly reports straight, if two thirds of the profit are not part of the balances those are nothing more than jokes.
f) Accusations and Reactions
So what is the way to show fudders? Yeah make a technicians decision – the hardwarewallet – and don’t care communicating why this should increase the trust in posw. For a site that proclaims to help beginners getting into cryptos, and it for sure has done this with some people – for me it was the main reason to join the pos scene – it does not bother much about said beginners. The amount of money in the cryptomarket increases evermore, the amount of beginners as well, there are lots and lots of shit and scamcoins, and having a company like ledger producing your hw is quite a good anti-scam sign. Was is communicated like that? In the slack. To those 10% of poswallets members, who already know about posw and are most probably the ones who try to inform themselves anyways.
I still believe in posws potential, but i think it will take longer to get there then necessary. Right now might be a good point to buy in, normally the prices will rise a little when the dividends payment gets announced, which should be soon. I do not think that posw is a scam and i do think that the site itself and the exchange are getting better with every update (with one but -> that i do not see my estimated balance anymore). The numbers on slack, the pool and site itself are growing, and the volume and variety of the exchange is getting better, so yeah buy posw, but do not expect miracles until there is someone doing some marketing.
PS: Never forget about ETH integration.