Hi! Not long ago, I decided to go all in on COSS and it might not have been the greatest decision so far, but I still have great confidence in the team and community. I see Feb + March as the 2 most important months for coss.io as they have tons of trading promos + new engine + fiat coming up soon.
Trading Promos
This is an incredibly important aspect as they currently have 10 running promos and another mystery promo for $1,000,000 dollars which will be announced soon!
All the coins that are listed as a promo are new coins, some brand new and only listed on COSS.io. This creates a monopoly of promising (and not so promising) ICOs onto the COSS exchange, as there's nowhere else to trade them.
This will help increase volume and more importantly bring capital onto the exchange. With more capital on the exchange, users will more likely trade other pairs that weren't part of the promotion, and with more and more volume, more people will want to use the exchange.
However, an influx of people brings up the need for a good engine.
New Engine
In a recent interview with Lead Engineering Director Mong Suan Yee, it was understood that they have delayed their main engine upgrade to 6 months in the future. Although this seems bleak, it's not all bad news. They'll be implementing bits and pieces of it as we go and the finished product is planning to be able to accommodate 5 million users, which is the current amount of registered users on Binance!
To help with this, they'll also be hiring 7 new devs coming in within a month or two + outsourcing certain areas to the public via their Trello board.
FIAT Trading
They have already confirmed with their credit card partners and this will be coming out March. This is incredibly exciting as this is actually months ahead of schedule and should bring considerable volume to the exchange.
My Opinion
The price of COSS should stabilise above $1.00 fairly soon after this dip is over and once that's over, COSS can start heading towards the $2.00 mark. If FIAT trading is successful and people actually use it, I can see it well exceeding $2.00.
Most importantly is how they implement it, as in if their engine can support the influx of new users + if they can implement FIAT properly.
Discussion
- What do you think about COSS?
- If you've invested in it, how much of your portfolio is COSS? (about 90% of my MOVING portfolio (excludes Steem) is in COSS)
- Do you agree with my analysis? If not which parts and what is your analysis?
Check out my blog for more interesting analysis about crypto, life and more!
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Great post on COSS and it's platform.
thanks!
Deposit/withdrawal is available only in crypto-currencies. Although the company offers the opportunity to convert Fiat in the context of the service for sellers, its exchange is not covered.
https://ttrcoin.com/markets/coss/
The engine will come way sooner than 6 months. They scheduled it to be live in Q1 2018 so it will be there before May.It would take 6 months to make a new engine from scratch but it won't be the case.
Here comes a quote from Mong Suan's interview regarding the engine release:
"To be honest, building a new engine from scratch would take a long time, probably close to 6 months. But we can build with what we already have which will be much faster. We can work in stages and replace what we have step by step. We call that refactoring. By doing so we would be able to release improvements regularly. Our architecture right now is based on services, and we can easily replace them one by one. That is the best solution in my opinion."
You can see the entire interview here: https://medium.com/@raphaelblouet/interview-with-mong-suan-yee-engineering-director-at-coss-io-f03df1095228
Edit: formatting