Someone raised the following point in a telegram group (the person who made the comment strongly believes ETN is a ‘crap’ coin and has zero future:
‘Eventually etn will need to be held in the local treasury at the governmental level. And a formal exchange rate established with global basket of currencies and etn needs to be accepted into the swift system in order to become national currency’.
Needless to say the person who made the comment believes the above will never happen. Discuss…
What coin currently falls under any of that mentioned? I’m pretty sure when etn comes across that path, any and everything needed to be done will be.
Swift is a banking system allowing for the transfer of funds between different banks and accounts - why would ETN have to become part of this, when the very point of Blockchain technology is to allow transfer of currency between individuals without the banks and such systems.
Exactly this ^^
~I dont think the guy who you saw question this really has any clue about what he is talking about. Every point he makes is bullturd.
I didn’t believe that ETN critics still exist. Even the most die hard critics have switched camps.
Believe me there are a few people out there who are still questioning electroneums vision and believe there is no chance of etn becoming anywhere mass adopted. Irritating, but true.
Probably the day traders, they just want to bring the price down so they can buy cheap.
ETN is not perfect and probably never will be, one of our current strong points is user numbers we can improve the tech as we go along like we have with instant payments and so on. There is no red flag for me when it comes to ETN the only thing we have to worry about is competitors.
What he has said really makes no sense to me its almost like he just put big words into a sentence??
anyone can hold ETN so what he means by local treasury sure they can’t hold ETN coins in there hand no idea what he means???
formal exchange rate established with global basket of currencies? What lol
ETN isn’t or is not trying to become a national currency " DEFINITION of ’ National Currency ’ A national currency is a legal tender issued by a country’s central bank or monetary authority" its trying be used by as many people as possible…
Swift is a payment system yes it would not be a bad thing to be supported on swift but we don’t need it we have our own instant payment system that can be implemented into almost anything.
Imagine if any other coin project wanted to get into mass adoption. It doesn’t matter how good the team is, they would come across certain issues in 100% of the cases.
Let’s take for example the smartphone market. Back in 2007, LG made the first smartphone, LG Viewty. Don’t know how many of you know this. It had its flaws, its quirks and features, but it is to be understood. When you try something for the first time, which noone else tried before, you can’t possibly make a 100% working product on the first try. That is why Apple, after 6 months or so, launched the Iphone 2G, which was everything the Viewty wasn’t, because they already knew what was to be fixed.
Ok, so let’s take ETN’s example now. They are pioneers in a market that struggles to find its identity for a few years now. Mistakes were made and will be made, but if they play their cards right, they won’t be that company who started a groundbreaking technology, but didn’t ever reached its potential, by not being able to build the future on that foundation.
