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hallwaymonitor

The market potential of Coil is bigger than you think

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Hi.

I just finished watching Cryptocurrency Explained by the Hammertoe where he explains the tech behind the Coil (the company) and especially the interesting use cases of streaming payments.

https://www.youtube.com/watch?v=JlbZeB6yng0

Streaming payments is no longer futuristic dreaming. This is happening now. Just a moment ago Wikipedia was web-monetized with Coil. How about Youtube? Below link suggests that Coil might be in talks with Google about web-monetizing Youtube videos (mostly via XRP). IF Coil strikes the deal with Google then it will open multibillion USD market annually for Coil which will then benefit us XRP investors as well.

https://coil.com/explore

Maybe the next target could be Netflix where Coil could yank a couple of billions USD market in addition? After that the next target could be <you continue>.

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Guest

it is exciting, but it's possible coil fail still -- i want to see real evidence in a year's time that they're actually profitable and not just burning through investor's/ripple's money

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12 minutes ago, zerpdigger said:

it is exciting, but it's possible coil fail still -- i want to see real evidence in a year's time that they're actually profitable and not just burning through investor's/ripple's money

Does coil even have to really generate money for itself. The whole point is its a browser extension essentially and a separate but still viable way to exspand the XRP ecosystem. Chrome, Firefox, edge, puffin..... All free browsers and the revenues all come from other sources for their parent companies. 

I believe coil is more a passion project about changing the internet and freeing content creators then a typical for profit venture. Coil can't sell ads the whole point is to eliminate ads and remove a managing service like YouTube ect that take a cut off a creators back for providing the public forum. Short of a license fee or integration fee I don't see how they make money on a system designed to let everyone else make money directly. 

There is data mining, but I belive Stefan said they weren't holding on to those types of sellable data. 

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33 minutes ago, kanaas said:


Coil is just an example of what is possible with interledger

well sure but the context was coil specifically

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1 hour ago, keybordem said:

Does coil even have to really generate money for itself.

Users pay Coil 5 dollars a month. Coil pays sites an unlimited amount of 100 micro-XRP per second.

If users pay more than Coil has to pay out, Coil earns dollars, otherwise they lose XRP.

Of which, I may assume, they have plenty.

Edited by lucky

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Coil should be teaming up with all the Ad Blocker providers, their target audience likely has a significant overlap with the audience of Ad Blocker users.

1 hour ago, keybordem said:

I believe coil is more a passion project about changing the internet and freeing content creators then a typical for profit venture.

I don't want to be rude, but I couldn't disagree more. The enabling of new business models is a very dangerous thing to incumbents. This is the type of thing that causes industries to go through a phase change, and re-structuring of the economics and how the value flows through the parties participating in the industry.

Another thing, is that the idea of "streaming payments" has much to do with the aspect of... Time

Time is one of those values that many products and services sell (often without even realizing it), and the enabling business models to move from time scale iterations of... annual, monthly, daily, per use of product/service... to a real time streaming of value flows...  will open up so many new methods of delivering value based upon the fact that you can afford to deliver that value because you receive a real time live stream of value inflows.

The more you reduce the time scales by making them shorter, the more leverage a system like a  RippleNet+XRPLedger, or a KarmaCoveage is able provide to users... the more leverage means a reduction of the capital required to be floated to accomplish the desired level of service output. (With Ripple, this "more leverage" is manifested in a reduction of the amount of value floated in nostro accounts).

 

Edited by KarmaCoverage

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2 hours ago, kanaas said:

Coil is just an example of what is possible with interledger

This is my takeaway from it. A way of positioning Coil.com as pioneers in the new 'web monetization' thing that might occur over the following years. Early mover advantage. People will follow coil and it's initial endeavours in IoV

Edited by Guest

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2 hours ago, hallwaymonitor said:

Maybe the next target could be Netflix where Coil could yank a couple of billions USD market in addition? After that the next target could be <you continue>.

It would require some insights in their numbers, but I tend to think Netflix would not be waiting in line to implement Coil. They have a profitable business model, and changing that could result in heavy users paying more (which those will not like) yet revenues from subscribers who do not watch much but pay anyway would be cut off. This could result in troubled waters.

I do think Youtube could work big time as very few at this moment would be up a paid subscription (as it has always been free) yet their add model is superannoying. I would see a major win win there, micropayments would be very acceptable.

Then again, I’m very far of being CFO of Netflix or Google so what do I know ?.

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54 minutes ago, zerocool said:

Well that came up quickly.

I was wondering that IF any major youtuber gets exited about XRP (or other currencies) that they earn via Coil it might encourage them to market Coil subsription in general like "hey, please subscibe Coil that would really help me out" or something like that.

The more there are Coil subsribers among the audience the more the youtuber earns via Coil DIRECTLY mooney. According to the doctrine of instant gratification this mere speed of the receiving the paycheck from making youtube videos might increase demand for Coil subscription in general. The audience pays in FIAT (depreciating asset) to Coil which pays mostly in XRP (appreciating asset) to the artists. Coil might run out of their XRPs eventually and they have to buy more of XRP from Ripple. If major youtubers really would start to promote Coil and sell less ads then smaller youtubers would mimic this behaviour and the snow ball would roll even faster.

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I love the idea of Coil, but I agree it's hard to see the 'real' benefit right now … here are some thoughts so far. Bear with me, lots of this is speculation but I'm trying to piece together the future of Coil. So feel free to disagree or raise concerns. Anyway, here's a good read if you haven't read it before: https://medium.com/coil/coil-building-a-new-business-model-for-the-web-d33124358b6

I think Coil in a nutshell aims to reduce dependence on ad-based income and reduce the friction of paying small amounts for products/subscriptions. I don't know if it will be Coil, but Coil is the launching point for what I think is a big piece of decentralizing the Internet - replacing many of the centralized platform subscriptions with direct micropayments to content creators.

  1. Incentivize good content creation
    1. because Coil is based on time, it reduces clickbait, etc. and rewards content creators who have engaged audiences
  2. Create more 'free' content - we're still paying, but not necessarily directly
    1. Reduces the pressure on a creator to have to 'sell' something. Instead of forcing someone to subscribe or whip out their credit card to pay $1 for something or fill their website with ads, they can focus solely on creating a great product with engaged users, not tricking people into getting to their site and leaving or clicking on a worthless ad for fractions of a cent. This also incentivizes independent creators to create more content, knowing that it is automatically monetized. 
    2. With less incentive to charge customers directly, content creators/providers will hopefully start to free up more premium content or get paid adhoc via micropayments with very little barrier for the user (ie. subscribing or using a credit card, etc)
  3. Decrease the amount of subscriptions and decentralize the Internet
    1. There are huge barriers preventing potential customers from subscribing for any paid content. There's just too much out there, I don't want to enter credit card info, I just need this one app or article, etc.
    2. Coil is creating a universal subscription, in which we pay $5 (and I could see this increasing as our need for other subscriptions decreases) for good content over many different sites
    3. Once content creators start to implement Coil more and more, paid subscriptions will decrease. If we decrease the amount of subscriptions and replace it with a universal subscription, consumers aren't really spending more money
    4. Any centralized platform middleman will be vulnerable. For example, Netflix -- now, there'd be too much friction subscribing to every studio and using streaming services from each one. ILP micropayments helps solve this issue. We just pay one subscription, and movie makers are paid directly. Also, we won't need to worry about whatever Netflix has available.

EDIT:

https://dailyhodl.com/2018/09/18/you-can-now-accept-xrp-on-youtube-and-twitch/

Now that Coil is integrated into YouTube and Twitch, Coil adoption is going to blow up. Why? Content creators are influencers and they'd love to get paid more. They're going to jump on this quick AND promote it like crazy … it might take some time because users will need to buy in and start paying Coil subscriptions, but I think mass adoption of Coil is going to come faster than we think.

Edited by stdyrm

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