"And it seems like you're giving up the chances of making profit from the product" is not necessarily true. There are numerous ways of making profit from a certain product. One of these ways is making it exclusive to you and only you.
Open Sourcing a project is probably a good way to gain traction and start building a name for yourself. First off, it would help you show-case your expertise and experience and compare those against other developers in the same field.
There's no unanimous choice. It's more of a weighing your pro's and con's for the whole thing. If you've got more specific questions I'd be more than happy to answer.
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"And it seems like you're giving up the chances of making profit from the product" is not necessarily true. There are numerous ways of making profit from a certain product. One of these ways is making it exclusive to you and only you.
Open Sourcing a project is probably a good way to gain traction and start building a name for yourself. First off, it would help you show-case your expertise and experience and compare those against other developers in the same field.
There's no unanimous choice. It's more of a weighing your pro's and con's for the whole thing. If you've got more specific questions I'd be more than happy to answer.