The title really says it all. My grandpa is an old school business man who doesnt know how to stop. He's always looking for a new deal, but he recently contacted me to get my thoughts on XYO Network.
I'm a major believer in only investing in what you fully understand (pro tip from Warren Buffet). I do not understand XYO Network and how this can be a feasible business.
Anyone here have experience / thoughts on XYO Network?
Some things I'm concerned about:
- Security. How will they maintain security of the transactions that take place on this network. This is oftentimes an issue for the front runners of new technology. They get exploited, then a new company learns from those mistakes and perfects the technology.
- How are they going to set up the infrastructure? I understand they need to place GPS trackers all around the physical world.
- Security of the physical GPS trackers. What's going to stop people from messing with the GPS trackers? You can't just randomly place GPS trackers around the world on public property.
- Funding. Setting up an infrastructure is incredibly expensive. Do they have legitimate funding or is this going to turn into a giant Ponzi scheme?
- From what I understand, XYO Network relies on Ethereum. Ethereum, and cryptocurrencies in general, are extremely volatile. From the time you place an order to the time you receive the order, the currency could fluctuate by over 10%. And it could completely crash.
Submitted November 12, 2018 at 11:10AM by Machiavelli127 https://ift.tt/2OFw8pS
