Gridcoin SWOT
What about a quick SWOT analysis of Gridcoin project? This could give us some clues about course of action in 2019 and current state of the project.
Strengths
- Developers work diligently and have pushed several updates during 2018; slack development channel is busy with code discussion and improvements proposals 365 days a year regardless GRC market price
- Average number of active users is steadily growing despite huge GRC price losses during 2018
Weaknesses
- Gridcoin is a currency system, but GRC is not working as money - you cannot buy almost anything with GRC; you can almost only exchange GRC for some other cryptos, like BTC or LTC
- Interest in BOINC is slowly diminishing over the years
- While Gridcoin network is several times faster and has larger throughput than Bitcoin network, still it has scalability issues and is very slow in comparison to Stellar or Steem
Opportunities
- Nvidia Faces Class Action Lawsuit Over Losses After Diminished Mining GPU Demand - Gridcoin project is more future proof to Nvidia and AMD than Ethereum and similar blockchains. Some form of cooperation with Nvidia would give a huge boost to Gridcoin recognition
- Low market cap is a great chance for a better redistribution of GRC tokens
Threats
- Several projects (like Golem, Hadron and a few more) aim to build distributed computational networks and markets
- Governments will force more regulations on cryptocurrencies and are unlikely to peacefully give up currency control
- Low GRC price has negative impact on new users acquisition and development capabilities due to low Foundation fund value.
What would you add to the list or remove from it?
Opportunities:
Opportunities: Removing team requirement increases potential size of Gridcoin's userbase significantly.
"Low GRC price has negative impact on new users acquisition..."
Agree. Even worse, the monotonic downward trending is partly to blame for low trading volume because trading under these conditions is unproductive.
Not to mention that when it's value slowly sinks over an extended time period, Gridcoin"presents" like a coin which is "on its way out" rather than one likely to have a bright future.
I'm hoping the new marketing campaign will help to reverse this trend. There's too much to like about Gridcoin to let it "die on the vine".
Opportunity:
Improve first time user experience for none technical people by optimising installation process of Gricoin wallet, BOINC and BOINC projects.
Threat & Opportunity:
Cryptocurrencies considered a waste of energy (in general)
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How did you come to this conclusion?
Number of active users has halved during past two years.