As an early investor of ETN, I dont see the bid on ETN anytime soon. Lack of focus

[b4d1dbd6da5578098f31]

In a nutshell:

It’s all about demand and supply. If demand surpasses supply the price will follow up accordingly. I simply don’t see demand overrule supply anytime soon:

The supply side of ETN

• Small group of selected miners dumping their coins on market
• Utility / Top up providers dumping their coins to compensate operating costs.
• Investors leaving the project.

The demand side of ETN

• OTC desk settling ETN payments on anytask. Really Doubt this will ofset supply even if the platform gains popularity.
• Speculators betting on the ETN price going up.

At this moment the demand side is next to nothing. We are positioned around place 125 on Coinmarketcap and of all those 100+ projects before us we have the LOWEST liquidity. What does this mean?

• There is next to none brand awareness in the current crypto investing environment.
• There is insufficient acces to trade ETN coins. The lack of exchanges is becomming laughable at this point. If you want to be taken seriously as a crypto ecosystem, you should be listed on the big names. For example Binance, okex, kraken etc. Investors are needed to grow the ecosystem and support prices.

Lack of FOCUS.

I dont get the anytask platform. While I do get it attributes to an ecosystem, I dont get the priority it gets. As a cryptocurrency ecosystem you provide your customers with a PAYMENT SOLUTION . It’s as simple as it gets. You provide the customer with a digital payment option.

Your number 1 interaction point with your customer is the Electroneum Application. To this date I still get errors. The dutch translation is hideous. Like it doesn’t even make sense at times. There should be continued improvements of user friendliness but it almost looks like there is no effort going into it whatsoever.

Your number 2 focus should be places where you customers can use your payment option . What good is electroneum if you cant use it anywhere? Big names in online service providers should be persued. Endgame names: Netflix, spotify, Fyber etc. You will be the only payment option which provide unbanked people these services they can not acces otherwise.

Your number 3 focus should be how do your customers obtain ETN so they can go out and use ETN to spend digitally. We focus on unbanked people so what the project really needs are physical points of sales in targeted regions where people can buy ETN with hard cash. I have never heard anything from the electroneum team on this topic.

Mind you, this will be by far the biggest bid you will ever get on the ETN coin which makes a organised physical distribution system of ATMS or local exchanges a necessity to outrule supply.

With the anystask platform I feel Richard Ells is only targeting people who take the ETN rewards and people who are willing to do gigs on AnyTask to gain any ETN. Well, i think you just ruled out 95% of your targeted unbanked targetgroup. These 95% of people want to use ETN beyond the ETN rewards they receive and they have no time or will to do gigs.

I am a bit lost on the anytask platform. Even if it will succeed. It won’t create sufficient demand imho. Any thoughts on this?

[Dngruss]

Guess you are unaware of the ETN Everywhere division, and yes of course local fiat in and out is needed. But there are local regulations and laws in every jurisdiction to contend with when you delve into money exchanger/transmitter territory.

Local fiat in and out ability is the main hurdle that needs to be overcome to allow ETN to become what it can become, the go to method for cross border remittance.

You also seem unaware that they are also working on the ability to pay for utilities with ETN.

Have a look at the coins.ph app sometime to get an idea of where things could go with ETN and the wallet app.

So for now we have mobile airtime and data topups in 140+ countries and Utilities in some areas not far off.

Now imagine tapping into an existing remittance Send/Payout network that already has all the local physical locations and infrastructure in place + ATM’s

I think it’s just a matter of time before it happens. When…not if.

[Dngruss]

Also there’s still ETN’s relationship with Mobile Streams in the background, so who knows what may be in the future works, discussions and possibilities.

And unifiedsignal.com which at one point was going to be involved in the partner liquidity ecosystem in some sort of capacity along with liquid.

Browse their website sometime, download their pdf. Who knows what the future holds and what role they may play in ETN’s future development if only in some sort of advisory role or idea incubation.

Obviously ETN can’t discuss every company or project they are working on or with in the background and this is just pure speculation on my part, but ya never know what’s in the works or how it may come about.

[Billy_Bongo]

A lot of the points have already been covered but may I provide some further perspective on the AnyTask and exchange side.

AnyTask
I think you will find the reason they are putting such a large emphasis on AnyTask is that this “could” be a massive counter to any rewards they are providing whilst they are still in the user acquisition phase.

We did a rough calculation in February that it would only take approximately 50 task sales each day to chomp through the NGO daily mining rewards. Internet searches reveal there are supposedly 50 Million Fiver transactions per month. If AnyTask can reach just 1% of this amount, it equates to 1600 sales each day.

The real pressure in my mind is coming from the mobile rewards, especially as the price of each ETN is so low at the moment, ($0.002). I am going to assume that half of the mobile rewards are being given roughly $3.00 of ETN each month, (how much you get depends on what country you are in) and this comes to around 6M ETN, daily. How much of this is being sent to exchanges is difficult to know but obviously some is. As we have already established, as we need approximately 50 AT sales to cover 1.1M NGO rewards it means we require circa 350 daily AT sales to cover both the NGO and Mobile rewards. I doubt we are getting anywhere near this at present, but I am hoping for around 500 per day within 12-months. This is 0.3 of 1% of the Fiverr.com sales figures, so should be achievable!

Now just imagine if we actually achieved 1% of Fiverr’s sales. This would create an additional daily demand of roughly 14M coins. This would cause significant upward price pressure from the OTC desks. Actually, it would be nice to have an update from ETN that showed a progression in the number of monthly sales. I think in the embryonic month and with no real exposure there were 77 sales and if this increased to say 3/500 in the next month, this would be massively heartening as it would show an exponential increase and would demonstrate how this may well play out in time. How coronavirus may have affected this, one way or the other, is difficult to say.

Exchanges
In the above scenario it almost wouldn’t matter if there were any more exchanges as the coins would have to be bought from the existing exchanges by the OTC desk that already do so. However, in the short term we have the problem of over-supply and under-demand, this is where having the exchanges you mention “may help”. I say may because although those exchanges have the liquidity, getting the buyers there interested in the coin is another matter, especially as supply currently outstrips demand. Would they presently want to invest under the current scenario – I very much doubt it.

However, I personally think that if ETN can demonstrate an exponential AT demand, month-on-month over the next 3/6-months, then buyers will see for themselves how this project will succeed and will want to get onboard early in order to maximise returns. Also, ETN are currently pursuing a route to US exchanges and they hope to have some news within a few months, who knows, maybe sooner!

[3babf70bcfdf24cd84b7]

Welcome back to the forum.

[Morph]

I support Electroneum from day one. Seeing project being built, all the pieces in place but price action is taking nasty direction last few months. I am getting worried for the first time ever and decided to stop buying more until we hit some higher levels.

We must look for high volume exchange. Liquid is regulated and trusted, have good fiat on-ramps but doesn’t have enough volume. Binance is expensive and seems shady to some extent. I would really like to see exchange like Kraken. ETN team should at least try to make it happen and community will support them.

As i said, this is the first time i am getting worried about Electroneum future. Supply is so high right now that only exchanges can bring enough demand to prevent bankruptcy. Can we at least start to communicate toward someone like Kraken?

[RSKNOR]

Well, well, well, I’m buying back now
Expecting huuuge ROI

[RSKNOR]

[RSKNOR]

Warren agrees

[Morph]

Thanks man! Those are the words i needed