Source
r/THEKEYOFFICIAL•
wave24k

Product potential (discussion post)

If everything goes as planned with main-net & deploying the technology cities as promised do you think bitcoin will have a huge effect on this coin since there will be so much volume? I mean obviously btc is the backbone for crypto don’t be that guy to deny this but in terms of mass adoption I seriously wonder there’s gonna be so much money flowing in I want to see what the community thinks.

Also another discussion starter:

What do you see TheKey branching out to in terms of product development I have this crazy idea where the world won’t need keys anymore and anything that requires a lock will have bdmi technology to replace it from cars to house doors..

I seen a company in the airport called nexus a few years back and basically they take all your information down to an eyeball scan so you can skip the airport lines because you are a “trusted traveler” I mean with better deployment and pattens set in place TheKey can replace existing companies out here that already enhanced security

What do you guys think the future of TheKey will be like in the next 2-5 years?

Posted Nov 17, 2018, 3:25 AM UTC

2327
niamhyd•

In the short to medium term I expect the goals to be the successful launch of the Mainnet, soon after to be deployed at their pilot site in Heilongjiang Province for the use case "Blockchain Multi-dimensional Elderly Survival Authentication" - the DMI model has proven successful for this use case so we have to be confident that the BDMI will also be a success. Hopefully once this is proven, saving on manpower, fraud and waste, it can be then gradually rolled out to the rest of the country.

It's something I plan to ask at the next AMA but I am guessing the administration in Heilongjiang Province along with the relevant validators will be holding TKY tokens.

I don't think we can overstate the impact of a smooth running pilot project whereby TKY is getting utilised will have on the value of this project; as we will then be moving away from solely speculative factors influencing the price to supply and demand. At present I cannot think of one project in the space who is in that position.This will be the beginning of the decoupling from BTC. Other factors to consider will be the PBOC launching its own digital currency along with a mechanism for the purchase of tokens such as TKY. Still waiting to hear solid news on this.

Of course long term there are many other use cases; so massive potential, but that will be some years down the road. One step at a time :)

12
Alter_ego_of_mine•

Well said, mate. A smooth running pilot may not only give all the confidence needed but also cause a massive FOMO. "Imagine if this becomes used by everyone, everyone dude! Sell your BTC, buy TKY!!" will be the coffee shop chat among retail investors.

4
wave24kOP•

If PBOC launches its own digital currency we all might be in a very credible position with this project already being invested, i didn’t know about this I’m going to do more research as well..

With the ban in China being unclear I hope they come to a solution soon so it doesn’t hinder the success of this project

4
Alter_ego_of_mine•

You're making an interesting point. With a Bank of China digital currency 1 to 1 pegged to RMB, we may be looking at an easy fiat to TKY conversion unaffected by any bans.

3
iknowmorenow•

Regarding price, when BTC makes its dip. TKY price could retreat.

However depends on how much fear the TKY holders have.

Dumb to sell however people have there reasons and if they do I shall enjoy picking up the fear. At lower prices.

Don’t be surprise if you see bitcoin hit levels of 4700 to 4100 levels

7
wave24kOP•

If it dips more I’m starting to realize it wouldn’t be a bad thing for crypto as a whole just cause it will give the people who thought they missed out on the investment opportunity last year another chance. If they don’t take the opportunity I feel like institutional will then we will see newer highs and higher lows then repeat the same process until it’s officially adopted by the masses

So hodl strong because ever since I been in crypto i had more butterflies in my stomach than being at Six Flags lol

2
djminger007•

That's assuming that more people will in deed jump on board . People might get fed up with the rollercoaster. They'll be a lot if disheartened people who bought at the top and sold at the bottom too who don't understand the dynamics of Crypto or are burned from the scam systems ;-) but I have high hopes lol

1
djminger007•

or even around the 3k mark, that would make it closer to the drop it always does every year it moons

1
Nfamy•

BTC will run this market for a while longer. Eventually alts can decouple but only once they have inherent value. For some alts, that is a bad thing because their real world value will be less than their speculative value. Tbh, I don't think see this come to fruition for a while, and so TKY will be held to BTC's whims. I've said this for months but things are going to get a lot worse before they get better. The earliest bottom I see is 4-4.4k, but I think we could go lower with 2.5k being the next big support.

Also, people talk about main net as if it'll do something for price but at best, there will be a run up to launch and then a dump upon launch. Main net launch has not caused a positive price impact in other tokens, and, in fact, it has been the reverse.

Tky has a long road ahead until it sees mass adoption. So this is a long term play. With that said, if it reaches its aims, then the possibilities are mind boggling. I don't focus on the short term price at all. I check in every month or so just out of curiosity.

6
wave24kOP•

Will start to do the same, I have this habit of opening Delta every 5mins.. lmao but you are completely right to expect the worse before things get better because having short term expectations for a solid project like this will result in confused disappointment when there is so much potential. Gonna check back in after New Years to see where things are I like the fact that the community can give honest feedback instead of over hyping the community!

I seen in another thread that crypto is following the internet bubble when it was first introduced then adapted, when it comes to new tech I completely understand the comparisons of its time so I’m just going to hope for the best because when it comes down to it blockchain can enhance the world in many ways it’s just on the people to come to realization.

Thank you guys for responding your opinions are well appreciated as a fellow investor it’s comforting knowing there’s others out here with the same belief that in time this project can take off

3
montclearman•

If you believe that inventors are going to sell their BTC for lower than mining prices then you are simply insane. For BTC to drop below 5k all of crypto will die.

1
Nfamy•

Hey. Care to revise your statement?

2
montclearman•

No need to revise anything. I was simply wrong and what did anybody gain from it? A comment stating that im wrong? A possible short position? The market proved me wrong and it wont be the last time it does either lol.

0
Nfamy•

You chose to reply to my comment and call me insane for holding a perfectly rational position given the price action, market structure (which was a huge hole of volume from 5650 to 4800), break down from a long term triangle, and multiple bearish EMA signals. So yes, I'll call out the irony of calling it insane to only have it proven accurate within days.

2
Alter_ego_of_mine•

Certainly they will sell below mining cost if they have to. Has happened before, can happen again and again. Overheads, equipment costs, electricity, you name it, need to be paid. Think about it. No utility accepts btc. So, sell btc and pay with local currency is your main option if you are part of a mining pool right now. Alternatively you can IPO like bitmain and hope to raise capital. Btc may become a collectors' item one day. Crypto will survive and thrive.

1
Nfamy•

!remindme 2 months

1
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1
wave24kOP•

Interesting can you elaborate on this I’m very intrigued to learn more about blockchain any chance I get besides this is an informal/discussion post aha

0
Alter_ego_of_mine•

99% of all projects are in super early stages. All investments are speculative. No one has a proper reference point for asset valuation. As they are speculative, they are tied to BTC's performance because that's the main barometer for investor exuberance/despair.

Yet, laws of economics are still at play. Since there is demand for trading on Binance, BNB token did much better than most alts. Its current MC of $1 bn is nothing to sniff at. To some extent, it is decoupled from BTC. I underscore 'to some extent'.

TKY may well have a similar destiny.

As to your other question, carrying banknotes in your pocket is fast becoming old school. Carrying a driver's licence, a library card, a whatever membership card, even a passport will become unnecessary too. Those things create a ton of bureacracy and back office costs. With a fast aging population of almost a billion and a half, China wants to phase them out. I see their digital ID push as a "two birds with one stone" strategy. First is cost cutting. Second is sadly citizen monitoring.

5
wave24kOP•

The technology will save them a lot of money and you’re right it will be way easier to monitor citizens within the city but if it’s the cost we have to pay for better programs for health care or fraud prevention it’s creating a better environment within itself at the same time I’m intrigued on how other countries will look at this technology because it will be very intriguing if it proves its worth

Imagine this deploys globally instead of just in the east, the team said they’re in talks but don’t quote me on this. Everything is still early but I don’t know another project that’s in a position like TKY is right now

2
Mansa_Sekekama•

Unfortunately, since it is 'Chinese', i do not see Western countries allowing TKY to be used in their countries in any official capacity(e.g. being officially adopted by Australia for their healthcare system). They routinely block Huawei and other companies for various 'national security' reasons.

2
cryptokilo•

Future price prediction : $8.00 tky 💪💎

4
wave24kOP•

Lmfao my head will explode if we see this price in the near future

5
Mansa_Sekekama•

Our co-workers would never see us again lol

3
Alter_ego_of_mine•

That's about 2000x from today. Possible? Yes. Probable? Not anytime soon. But by future if you mean 4-5 years, it's even probable. Useless IOTA did more than that and nobody uses it. Just carrots being dangled "BMW partnership" yada yada. When hundreds of millions use TKY anything is possible.

1