Gig guru will create buying demand. Better to watch the different videos regarding that matter.
But I can go briefly into it.
Unbanked / banked citizen makes a job on the guru site, say The worker wants $5k ETN for it. The buyer purchases this service with his everyday visa card, and The system instantly converts that fiat to ETN and sends The ETN to The worker.
Very briefly as said But The system is HUGE once live!
This is what I meant about point 3. In a traditional asset class such as stock it will be a criminal offence for the ceo to manipulate the price through market intervention. Let me explain to you what i meant by ecosystem and perhaps you will understand where the money comes from.
In etn the ecosystem can be broken down into these parts-
Mobile wallet (the “account”)
Gigfair (to earn)
Mobile top up and vendors (to spend)
Let me explain to you where the money comes from and how this can increase the price.
For the price to increase all 3 elements above must be successful. More so the second and third part.
The global north buy gig from people in the developing countries using USD. The people in developing countries will get ETN in return for their work. To attract those people in the developing countries, etn must show to the developing world that it has an intrinsic value(you would more likely to work for me if the reward is useful for you I.e. you are more likely to work for me if you get gold rather than air for example). They then have two choices wether to cash it out via the exchange or to store it to use. This is the second part I.e. how widely it is being use. If etn is widely use (which is if point 3 is successful) then they will keep the etn and spend it therefore the money will not leave the ecosystem.
Let me also give you another example perhaps closer to home for you wechat pay. People in China tend to keep the money in their wechat wallet when they get pay on it because it is widely accepted. Therefore wechat never have to actually cough up that money somebody deposited into their system . I hope now you understand where etn is heading to.
Weng I think you are missing the point here.
Firstly Electroneum are targeting the unbanked for a reason. As Richard has said many times, the developed world has many digital forms of payment (credit cards, apple pay, samsung pay etc) there really isn’t a need for another new digital payment system. But the developing world is different story.
1.7 billion people either do not have a bank account, or if they do, have no money to put in them. Currently, they would have to walk for miles to their local airtime dealer, pay cash, top up their airtime, before the long walk back home. Now if they can pay for top up like we do in the developed world (but with etn) imagine how life changing this would be for them.
Now with the mobile miner, let’s be realistic here. People are only getting up to $3 usd worth a month (in the target markets, everywhere else getting much less)! Its hardly enough to pay for the airtime in full (but it does help with the cost) and its not worth selling on exchanges (which they cant do even if they wanted to as they have no bank account). But it’s not designed for that. It’s designed to be merely a taster for people to experience ETN. It encourages new people to join into Electroneums eco system. And once these people are on board the eco system, they will want to earn more etn which is where the gig site comes into play (please note I used the the word “earn” and not buy").
Please bear in mind we are not the target audience for electroneum. We are just speculators trying to make a profit on the rising price of ETN. There is currently no use case for us (though this will most likely change in the future when the eco system has matured enough). Perhaps this is the reason there is so much negativity in the project because “investors” cannot see any value in the coin if there is no use case.
But let me say this: we all know the laws of supply and demand. Now if Electroneum are able to achieve their goal of tens or hundreds of millions of users, then you can expect what would happen to the price when the demand is far greater than supply.
In my personal opinion (meaby I am wrong) the price is kept down in purpose… all good news… and after price a bit go up… always back down… I think someone is keeping low price… possibly this could be becouse of coming gigfair and investors with it
I actually agree with you. I find it very hard to believe that after a 75% reduction in block reward + only allowing NGOs to mine the coin, many exciting developments and HUGE partnerships being announced with more in the pipeline that people aren’t scooping up ETN by the millions. A reason for little demand after all this is that theres hardly any price movement and because the 1% currently in crypto are mainly speculators they do not pay much attention to fundamentals if there is low volume or price movement. Why would someone purposely not want speculative eyes on ETN yet?
Simple:
after a night sleep, i have amazing replies from u guys. this is not my full reply yet, i need to fetch kid to school n doing some daily routines job. n needs to look for doctor later to get my prescriptions n medical, got fluss.
i need to fire up my pc to replies all, this mobile phone screen simply too small. check with u guys later. n thanks again
We are not that much down from ICO price.
It’s just that 2017 and beginning of 2018 was a time of strong FOMO. Where people did throw money at every crypto.
So, when ETN made its All time high it didnt even have a working mobile miner and the app was very sketchy at best as well. The evaluation made absolutely no sense.
Now after the long bear market during 2018-2019 alts got to a reasonable level again. (Some still overvalued imho).
The great news is. And I mean really great news.
ETN still exists. It’s being developed and things seem to only get better. Richard ells takes this project very serious and the ETN team is growing and that is really most important considering future evaluations.
Crypto prices are not a function of supply and demand like in classic finances. It’s more about Fomo and Fud. We will likely get another phase of strong Fomo, where people will flood into crypto (for many reasons) and if ETN keeps doing a great job its highly likely that we get overvalued again. And who knows what numbers this could lead to…
If you are interested in price discussions you may want to join our ETN TA thread here also 
I think you have made some very good points in your statement. Everyone is trying to make money. And there in lies the problem. When whoever made bitcoin, I definitely don’t believe his or her main incentive was to make money. It was to build something surely? To challenge the strangle hold the financial institutions held over billions of people, and even with this groundbreaking idea it took 7 years to go from creation to peak value,( so far).
ETN are a lot smarter than most of the investors have any idea about.
Their true genius is based partly on the history of mobile phone use in Africa.
The Nokia 1100 is the most popular phone in the world. It is not only a lot more resistant, than any smart phone, it also uses a simple menu system, has few separate parts and every town across the developing world has a local repair shop with spare parts to fix or charge them. These “dumb phones”, as they are known, changed the financial situation for millions of people because of one small change introduced by a company called safaricom.
The system they created was called M-pesa.
countries such as Kenya have been using M-Pesa since 2007, where users can transfer money via SMS messages and short codes. No apps or smartphones are necessary , just a phone number, an amount, and a code.
Within 9 years nearly 30% of the whole country’s GDP flowed through this system as people gave up on cash and used M-pesa to send money to the home villages, and buy everything they needed from the local shops and markets.
Let me just repeat that,
30% of GDP of the entire country of Kenya!
How much do you think they spent on advertising to get this system adopted?
Massive Facebook campaigns?
#nokiapaymentsystem?
Massive email drops?
None of this was an option. It was functionality and word of mouth.
Africa is the largest growing mobile phone market on the planet, And Richard ells knew this, and the history of using phones as a system of payment.
ETN is creating the 2nd wave of this incredible change for the growing smartphone markets in developing countries.
Not only is ETN recreating this payment system for the modern phones in developing countries, he’s creating a alternative reliable working system for everyone with a smart phone.
Everyone.
You may not like the media and advertising strategy at the moment but that’s because it’s not aimed at you, it’s aimed at an enormous group who can use it as a real life, everyday currency right now.
And it’s definitely not because it’s trying to make ETN HODL-ERS rich, at least, not yet.
It’s disrupting the system. Hell, it’s creating a new one!
The only reason ETN exists in its current state is because of the amount they gave away. And because of who they are giving it to.
Once they have an entire system up and running, in multiple countries, they will have a lean, polished functional and transferable example of a modern financial system for the people of every corner of the world that has an Internet signal. ( seen any reports about Google or Facebook trying to design flying devices to beam Internet signals to remote places on earth? Yeah, there have been quite a few)
So, go sell your ETN, tell everyone you just don’t believe anymore, but just think about what this means to the people who are getting the most out of ETN now, and what that could translate into across the planet.
Ever since Cryptopia exchange close the daily trading volume for ETN has become very small. There is no good replacement for Cryptopia and the price will never rally unless we get a good exchange to trade ETN.
in facts if my post read by Richard teams, pls note tht I’m not here to bash etn but is to help. if able to solve etn demand issue it will surely helps the price to gain traction upward.
since u focus on adoptions, why u make it so hard for people to buy etn with cash/credit card with more promotion?
Let’s make another example, u promote to let people pay utilities electric/phone bill with etn. the conversion price is more expensive to pay with etn so is only beneficial to people tht have etn already. how about those who don’t? is a BIG question to those who don’t, why bother to buy etn for reload? try dont bash me first, why not find way to solve this? so u can make etn worth it. make people think is beneficial to pay their bills with etn only, even i have cash but i will convert them to etn so i can pay my bills cheaper? u see this how we make people adopt etn. and this is proven works as how the ewallet company do’s.
lastly some offtopic, dear ETN teams… pls focus to earn cash with your coins. I know u targeting unbanked and at the end u still sells your etn and rely on cash to make ur company to survive least for now.
etn supporters, stop be fortune teller and think tht ppl don’t have patience n faith like u. stop chasing ppl away, ppl who take time reply in social media or forum is also potential to b etn adopters, why chase ppl away by frustration? use facts to reply, i surely believe they will understand.
ok, this is ending of my reply. meet u all again later a year if etn still exist. ciao
The intention is for people to earn ETN through AnyTask by means of using digital skills they have or can gain by using TaskSchool. With this ability people can earn extra money they otherwise wouldn’t be able to gain and then use it towards utility top ups or data etc. Therefore allowing them to save fiat currency towards other necessities. If you don’t have much money in the first place surely another revenue stream and the ability to use that revenue stream to enhance your life is only a great thing. With the recent double halving supply has now dropped and so there is less ETN coming into circulation. This can only be a positive thing. Have a great day. 
I think you do not take into account that in many of the target markets the unbanked also use mobile airtime and data as currency and have been doing so for some time.
Plus you somehow seem oblivious that everytime a buyer buys a task on anytask they are paying in Fiat, and then that fiat is used to acquire the Equivalent in ETN to payout to the seller.
So every task sold creates a situation where new fiat is coming into ETN via any and all methods the 3rd party uses to match that fiat with an equal amount of paid out ETN.
It’s the same as if a new investor was going onto an exchange to buy some ETN IMO.
Of course depending on how exactly the electricity and mobile topups incoming ETN is converted to fiat or if that supply gets put into a pool to use for anytask payouts.
I don’t know how that all works or if it’s even the same 3rd party doing the topups and processing credit card to ETN payouts.
maybe legal reasons or pure business reasons they can’t be one in the same…who knows…only those doing it know what’s what on that.
Doesn’t matter who or how, new fiat is still coming into ETN every time a task is sold.
And many more ways to spend earned ETN is on the way and in the works, making it more attractive to be earned and used as a payment method.
At some point there will most likely be fiat on and offramps available locally, some entrepreneur is going to figure out there is an opportunity there to take advantage of and make it happen. Then watch out… cross border personal remittance with ETN will have no serious barriers left in it’s way.
@weng I’ve just seen your Facebook post regarding community members and questioning whether anyone here actually has used fiat to buy a Task from AnyTask. In short yes. Many of us have. Posting negative assumptions on social media is not helpful at all. If you want a debate then that is a healthy thing. The thing is you’re not debating…
