Musings on CSC and why I feel it will hit $1+
I have expressed these thoughts on Discord and twitter over the past year so this is my attempt to combine them into one post.
First you have to understand what drives the value of traditional crypto. Transaction volume coupled with FOMO/FUD. Generally more transactions the higher the price goes. Yes I know this is a gross oversimplification. The primary individual’s currently driving the transaction volume is Traditional Crypto, buyers/sellers and miners. The primary driving factor is FOMO or FUD.
The exceptions to this currently are, XRP and CSC. XRP has transactions generated by real world use in the Banking system. CSC will have transactions driven by Gamblers sending/receiving funds to Operators/Processors and operators/processors buying selling to maintain stock. Operator = iGaming, Land Based, Sports Betting entities. Processors = Money Changers used by Operators to comply with local/state/country laws for AML and KYC.
Edited to clarify: By Transactions I am referring to Buy/Sell transactions on exchanges.
CSC Transaction Volume Generation:
Gambler/Processor/Operator: The majority of the Transactions will be done by Gamblers/Operators/Processor. Average Gambler spends US $350 a year on gambling with approximately 1.6 Billion people gambling every year worldwide. If CSC captures even .005% of that market the volume of transactions is mind boggling. (2005 study by Washington University) Value of CSC will have no effect on the volume of transaction because these users are using CSC for a function not an investment.
Traditional Crypto Investors: Traditional Crypto Investors are the current people mining/buying/selling crypto. The volume from traditional Crypto Investors will increase once the FOMO hits after seeing what BRM is doing.
Outside Investment: Then there are the new players, Goldman Sachs, NYSE, etc, etc. The amount of funds that are going to start being poured into Crypto in general is staggering. It won’t take long till they start looking at Alt coins. CSC Foundation (and Ripple) has a business model that is easily understandable to non crypto investors and would give them an investment comfort level that will make CSC very attractive to Non Crypto investors.
If you combine these three groups the volume of transactions on the exchanges will be phenomenal. All of the transactions will be facilitated through exchanges. Foundation is only sitting on approximately 8% of coin supply.
So why do I think CSC $1+ in 45 days of BRM go live.
1. I anticipate an announcement on who the operator/ processor is before go live.
2. Sandbox will be done with live CSC and real gamblers/operator/processor actually gambling. So this will cause transactions to have small bump, but more importantly a FOMO bump in Crypto community. We need to facilitate the FOMO by starting our community promo push at this time. So I anticipate a slow rise in price during sandbox.
3. Completion of sandbox should cause some FOMO.
4. Go live of BRM. At this time the Operators/Processors/ and Foundation will start their promotion campaigns… Also community has to go into overdrive with their promotion of CSC.
Only issue I can really see is if a couple of the Whales start profit taking, which would slow down the rise. I think once it starts to rise they will hold bulk of their funds because no one wants to be the BTC pizza guy… 😉