The supply certainty isn’t too large - if you want to have a decent economy it will be a good amount to deal with. if you have 10s of millions using it its ok. Its been chosen by design . For growth and sustainability. Just more fud and blah blah
Clearly they don’t have a clue about the market size or world economy at all let alone any understanding of traditional fiat currency.
1.70 trillion physical U$D in circulation
14 trillion U$D on the books and physically
If anyone has a supply problem…
If ETN came to parity with USD(which is only a fraction of the worlds monitory market) a single ETN would be worth approx $667
1% of USD then $6.67
10% of USD then $66.70
i think crypto is not going to have just one coin that takes over the fiat, there will be many coins in use in different places. I don’t see Fiat being replaced either but more of a merging of many options of exchange. ETN will find a niche throughout the unbanked and other areas and other coins will work in other places. No one really knows how it will go but at least Electroneum did think about this before they started. The idea was to try to avoid the tiny fractions that bit coins has when making small purchases, plus much smaller fees as well. If they need to they can adjust the decimal places to add more to make smaller fractions.
Some of the most popular coins have larger supplies than ETN. (cardano, stellar, etc.)
It isn’t large enough in my opinion as at full coin cap 21 billion and 21 million users it would mean 1000 ETN per user, think about that for a second and then let it sink in. We are at roughly half that and at 20 million users it would be 500 ETN each. In my opinion at some point in the future there needs to be a decimal or two added if not an inflation event where everyone’s coins are doubled and the cost is halved. This would obviously need to happen at a point where the price is going parabolic or meteoritic. As Electroneum want to keep it simple would they add a decimal? Or have an inflation event what are your thoughts!?
In an early video, Richard said that if the price ever went too high to use as a currency, they would fork, and create a second currency for specific uses.
I think as the price goes up many will sell and there will be a lot more dilution. If etn is a dollar people might only hold small amounts in the unbanked areas so more people will have a few etn. The distribution of coins will naturally spread out but you are right the idea that the simply context of an etn being like a dollar or something is unlikely to happen. If the project is successful the coin will likely be 20 or 50 dollars or more so it will be fractions being spent over time. There are really just too many things that can happen. Just wait and see is all we can do. Waste of our energy to speculate really.
No not a second currency, he only said ‘inflation event’. Unlikely to even need it.
That’s not how I remember it, but it’s not important at the moment.
The reason I believe crypto will replace fiat is because crypto is inversely effected by inflation. Where as fiat currency loses values over time, crypto gains- until we reach full distribution the returns will outpace inflation. In addition say ETN or any crypto reaches a point where the value climbs too high where they would want to increase the supply to bring it into a more traditional number for daily use, they can make the adjustment and it would be distributed essentially like a stock split, where all wallets would receive their equal adjustment 1 to 2 or 1 to 4 for example with no value loss. Where as the traditional fiat system your bank account loses value over time (they do give you a joke of a interest percentage that never comes close to overcoming inflation) while any additional money “printed” and added to the system is given only to the banks for distribution via loans (ie debt) and to no benefit of anyone other than the financial institutional oligarchs.