RE: Crypto Coins by chandu91

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Viewing a response to: @inventor16/7-rules-you-should-follow-when-doing-due-diligence-for-crypto-coins

steem · @chandu91 · Jun 24 '17

$8.73

A well written and clearly classified post.

@inventor16 
As per 4th point -> selecting a coin for having broader niche. 

Recently I am looking to Storj  project which can be used to rent out the extra hard drive for crypto. I felt this is gonna be really innovative project. 
But, the point of broader market... I doubt it.
What's your stand against this project? Any suggestion?
Of course, I agree all points you had here....

👍 inventor16

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@inventor16 · Jun 24 '17 (edited)

$8.51

I haven't done enough due dilligence on storj to really make an informed comment. I think the idea makes sense, also with Siacoin and decentralized hosting also makes sense. But with these new decentralized operating systems coming out, such as BOScoin, EOS and maybe even Ethereum, you have to ask the question of whether these one off blockchains will gain more demand versus a dapp that's built on top of another blockchain. That question we will only know in the future.

👍 inventor16, chandu91

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@chandu91 · Jun 25 '17

Exactly @inventor16 
Only future knows. But it would be better to have investment on the projects initially... Of course yes they gain demand in the course of time. 
I feel not more than DAAPs...
For this instance,Storj to gain more demand. It has to offer more speed, bandwidth, privacy and censorship  comparing with traditional cloud storage. But lets see in future. I would like have your review on this coin or similar innovative projects. It would be great and helpful than a noob like me telling about it.

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@inventor16 · Jun 25 '17 (edited)

$8.82

@chandu91 I'll look into doing a review of Storj, my initial thoughts is it's a solid idea. One cause for concern is storj competitors like google drive offer 15GB of free storage which is very secure and reliable, so most people will just use that, so demand may be lower. Demand is going to be a key player in the marketcap of the coin itself.

👍 inventor16, chandu91

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2 replies