Hi everyone! Another update from the team. We had to postpone it a bit because we had some strategical and operational decisions to make. However I’ll first throw another quote at you, once again describing the past period for me 🙂
“If you don’t have time to do it right, when will you have time to do it over?”
― John Wooden
The AdCoin Concept
Let’s start with the most essential part of the whole AdCoin journey by elaborating on the concept itself. Why AdCoin? It seems that there is still some confusion about the purpose (and value perception) of AdCoin and I hope I can clarify it in this update. But first, to make things 100% clear:
AdCoin is a cryptocurrency that can be used to purchase or get paid for (online) advertising.
AdCoin is a cryptocurrency that uses blockchain, that shouldn’t be a surprise. But why do we think there is a need for a cryptocurrency specifically for the online advertising world? Why not use Bitcoin? There are about 50 reasons we could come up with, but we will share the ones we also use in meetings with advertisers, publishers and ad-platforms.
1. Cryptocurrency is ‘open’ 365 days a year, 24 hours per day: transactions are done with each and every block that is added to the blockchain, no need to wait.
2. Blockchain is transparant: once a transactions is added to a block, it can always be found, no discussions about not receiving the coins
3. Low transaction cost: One of the reasons Bitcoin wouldn’t work, transaction cost is very low on a lower volume blockchain (0.2% tops, while creditcard or PayPal transactions can cost over 3%).
4. The combination of the above can result in micro-transactions. Sending $0.01 for a shown ad is still lucrative, since there are no fees.
If you have any questions or remarks, please join our telegram group and share your thoughts!
After the previous update there was quite a discussion about the demand for AdCoin in our telegram group. In this update I would like to give you some insights into our previous marketing efforts and our planned next steps. Unfortunately we can’t go into too much detail because not everyone who is reading this wants AdCoin to succeed.
AdCoin had a smooth launch in the country of origin (the Netherlands) when it comes to marketing. Within a couple of days after launching we got picked up by the Dutch media (BNR, RTL, Emerce) and received the first phone calls from investors and potential partners. Since some sources say differently, I would like to emphasize that this was free publicity. We used the opportunity to spread the news through social media. We have been doing this since the launch and reached millions of people in the Netherlands, Belgium, Germany, France, Italy, Spain, UK and the US.
At this moment we are marketing AdCoin like we have been before, through social media. We are gradually increasing the marketing channels and countries. We are still in a (major) development phase and the space to advertise Cryptocurrency / Blockchain projects is overly crowded. That doesn’t mean we’re not doing anything, we already established contacts with bigger international newspapers and are improving our online marketing performance.
When the fork and showcases are ready we not just increase our marketing efforts, we will also change focus. We have some specific tools we are working on which should be marketed to the users (who are not necessarily familiair with cryptocurrency or blockchain). How this will add value to our project is quite obvious: AdCoin will have to be used. How it will influence the price of AdCoin is a bit different. Since many of the people who read this are currently holding AdCoin I thought it would be best to go into further detail below.
Exchanges & Price
Before I go into this I would like to make a little disclaimer about the price. As a development team we want to stay way from price predictions on exchanges. While we expect an increase in price based on our initial predictions and current development, we can’t guarantee anything and like all trading goods ups and downs are imminent.
Since blockchains are decentralized everyone is free to list a cryptocurrency and trade them for whatever they think is reasonable. Currently this means trading AdCoin for other cryptocurrencies like Bitcoin, Litecoin or Dogecoin on the cryptocurrency exchanges. In the future this means trading AdCoin for views, clicks, conversions, likes and much more. This means that there will two factors influencing the fiat currency (USD/EUR) vs AdCoin price: speculation and real world demand. We have always stated that we personally value real world demand over speculation, thus hoping for a stable pricepoint that helps the adoption of AdCoin. However it is impossible for us to predict the impact of speculation and there is very little we can do about it.
How real world demand would increase the price of AdCoin is based on the amount of AdCoin in circulation versus the demand. Whoever wants to buy AdCoin has to do so through an Exchange (getadcoin.com facilitates the Cryptopia Exchange by converting EUR into Bitcoin into AdCoin). When an advertiser wants to buy 100.000 views in AdCoin, he will be forced to purchase those AdCoin from someone who is willing to sell. If no one is willing to sell at that specific price, the advertiser would have to increase the price per AdCoin. In reality this would mean the exchange rate for the 100.000 views in AdCoin will change accordingly.
We are currently listed on Cryptopia and CoinExchange. We have applied for many more and will continue to follow up on those. Especially Bittrex, Poloniex and HitBTC are interesting as it would offer a wide range of other exchanges and tools we could use. It would also be easier to buy AdCoin directly for fiat currencies.
In the meantime we are very satisfied with the exchanges we are listed on and are building our own tools on the Cryptopia API. Please note that it is NOT a matter of funds to be listed on the previously mentioned exchanges. If it were that simple, we would have already been listed.
Status updates current development
For us, this is the most exciting part of the update. We are working on three critical processes to start our collaborations with advertising partners. Those three processes are:
1. Changing the difficulty regulator of AdCoin (hard fork)
2. Creating tooling to receive, send, buy and sell AdCoin
3. Support point 2 with our company so everything is handled in the correct way (essential for advertisers to buy through a company)
1. Difficulty regulator
We are in the test phase and working on changing some tools that rely on the nodes (explorers, pools etc). While this update is essential we don’t want to rush into it, as it is our first fork. We are projecting to be live by the end of January 2018.
With adding Anne Douwe to our development team we have a major addition to our PHP development capacity. The first release will be a fully functional web-wallet for AdCoin. We are currently beta-testing, but as you can see from the screenshot it looks (and works) really slick!
3. Company – AdCoin Click BV
Most of the work is done, but we are still waiting for some applications when it comes to handling payments and specifically pay-outs. We are working on re-doing the entire order processing part on getadcoin.com.
Well, that was it everyone! Some last things I would like to share:
- We are speaking at Emerce Performance in the Netherlands
- We are looking to expand the team with C++ and PHP developers (mail us when interested!)
- There will be a an update on November 21st regarding the development of coin and the tooling
Thank you for your continued support and for any questions please drop me a message on Telegram!