Read CCRB: A Challenger Appears (first article)
We took the UK as an example of both a very developed retail market and a fairly technologically-savvy and crypto-educated nation. Moreover, both Bittle and CCRB aren’t strangers to Britain. So, should one wish to make a purchase and earn some cryptocurrency in form of “cash”back…
Bittle vs. CCRB: Partnerships, Retailers and Investment Potential
CCRB partners with the following retailers:
Total: circa 50 retailers.
Comment: How many of these retailers are native to the UK? Emirates Airlines, Aviasales.ru and others are definitely not. Most of these retailers appear under any country in CCRB’s country dropdown-menu (a simple trick allowing CCRB to boast partnerships with retailers across 206 countries. Does it, really? Well, comparing the likelihood of CCRB’s representatives roaming the backstreets of Jakarta’s marketplaces, looking for more boutique retailers to partner with as opposed of copy-pasting Aviasales.ru under every country…
Total: Circa 60 retailers.
Comment: Pososhok.ru, Qatar Airlines and more classic British brandnames. Effectively, we see the same picture, – international brands with an online presence are mentioned under “United Kingdom”. Interestingly enough, Aviasales.ru, Emirates Airlines and many more seem to be partnered with both platforms.
Conclusion: while shopping around online, you have a choice of two platforms offering cashback in form of cryptocurrency to choose from. At the moment, CCRB tokens present a more liquid option, being traded on a few exchanges, while Bittle is a younger project.
From speculative perspective, unlike CCRB, Bittle has not yet underwent the typical “pump-and-dump”-ish Rise and Fall of value which follows the first ICO (investing in holding some Bittle early on might “to-the-moon” Bittle holders), while in CCRB’s case, the ship has probably sailed.
What does the chart mean? Could the market be disappointed in cryptocashback? Was the interest to the concept just part of the hype?
Not really. Value of a CCRB token is fairly stable and is not falling below a certain resistance level. CCRB offers a stable service, so it does not hurt the average consumer to know that the value of his or her cashback will not devalue overnight.
The market value of a Bittle token is still unclear.
Note: it is important to break down the concept of cryptocashback. Cryptocashback is an elegant idea, or was an elegant idea, applicable to those interested in market entry with existing obstacles. What does that mean? A year or so ago, when buying cryptocurrency for fiat was not as easy as it is today (have a credit card? Visit Changelly, or a similar service, and you will have some Bitcoin, Etherium, Litecoin or any other cryptocurrency in your wallet in no time). However, legislation differs across countries (there are countries where banks block services selling cryptocurrencies) and in some major markets, cryptocashback can be an easier way of acquiring cryptocurrency, since there the purchase is indirect; presenting a possible competitor to LocalBitcoin-like services. Focusing on those countries is a significant market opportunity for CCRB and Bittle alike. However, having observed the progress of both platforms, we can safely say that this market opportunity, amongst numerous others, will be neglected, overseen and the income acquired from ICOs will go towards trash projects (CryptoCreditCards and so on) at best, or just vanish behind the facade of “hard work” at worst.
CCRB leadership fails to comprehend how fast-paced one must be to adapt to the fluid market needs and keep offering consumers products which are relevant today, not September last year. The chart above illustrates the interest towards CCRB quite well, – it is dying and rightly so; CCRB not only struggles to keep up with the times, but seems to lack understanding of what the times are. The platform successfully ignored fantastic market opportunities and keeps doing so, while investing efforts into born-to-die ventures, making the public wonder whether CCRB actually is interested in developing as a platform, or is a simple scam.
There is an enormous difference in the consistency of the market players now, compared to the good-old-times when CCRB was incorporated. Reality check: those holding onto Bitcoin and Etherium and willing to risk investing are those who survived enough price falls to have an exit strategy in place. Even small-scale investors learned how to read whitepapers, weed out “total bullshit” and not even waste their time on “free tokens”, not mentioning reading through unsubstantiated, empty promises of the token’s value rising with the market “JUST ‘CAUSE”. There’s no “just ’cause” anymore; amongst small-scale investors are institutional investors, venture funds and George Soros-like characters who most definitely know how to read past “total bullshit”.
Bittle is simply a market newbie, created when the hype was high, and its future depends solely on the team. Most likely, the creators expected explosive interest in the platform, while in reality, the amount of token holders is rising very slowly, despite the fact that the tokens are distributed for free. Why has Bittle not done much to grow? 2000 token holders is nothing to be content with.
Cryptocurrency romantics will use any opportunity to acquire some more cryptos, as long as the goldrush lasts. Other than that, normal consumers just have an additional option when searching for cashback deals: what is better, flat cashback from Quidco, or cashback in form of ERC20 tokens from Bittle?..
Will cryptocashback market develop into something permanent and interesting, or will die under a status of an “elegant idea”, buried under the burden of human greed and incompetence?..