ETN " overhyped " article on coinmarket app

I have posted this on a few places fo forgive me if this is becoming repetitive.

I recently read an article on coinmarket app news section regarding the most “overhyped” cryptocurrencies on the market. I was shocked to discover that Electroneum was number 2 on that list. you can read the report at
bitcoinist website
“new study reveals the most overhyped cryptos on twitter”

this is my view.

Although I don’t contest the fact that bots have been used by a number of cryptocurrencies, I do want to draw a line between the number of social media accounts discussing/ promoting a cryptocurrency, and it being “overhyped”, (which to me implies it has less value than the numbers would suggest)

my main example is electroneum.

These guys have had the goal of mass adoption as their driving influence since the offset.

many of the coins in the “hype” list above are bought and sold on a daily basis for the purpose of profit for its creator’s and holders.

It would make sense for there to be thousands of fake accounts pushing for interest to rise.

Electroneum has a different approach. They wanted people to spend, not sell.

I’m seeing they put more value in their coin being a currency, not just a store of value.

The testbed for Electroneum has been South Africa, where they introduced the brand as a system for micropayments in their everyday living, a system to give the unbanked population access to the financial world, ( something unavailable to millions of people who happen to have a smartphone), a way to subsidise their mobile phone bills, and very soon with the “gig economy” about to launch, a way to earn money for small jobs done online, payable from anywhere in the world without any of the current cost of a currency exchange.

My point is this,

Over 3 million people currently hold Electroneum accounts, and undoubtedly a large number of those have other media accounts where they promote Electroneum, discuss new developments, and research upcoming events.

I would argue that a huge number of these people have no intention or incentive to trade them. At present they are most likely
1 in the accounts of HODL-ERS waiting for the big payday.
2 used for topping up their mobile phones with data and call time.
3 or being spent buying bread, groceries, or a growing list of products and services at their local shops.
These things are happening in South Africa right now, and recently Brazil too.

Hundreds of thousands of people receiving their free Electroneum and spending it without ever thinking about what the exchange rate is. But all talking about it, researching it, and sharing it online.

I promise you this, whatever the number of bots sharing ETN content online is, it is dwarfed by the number of real people using ETN every day.

This has the potential to be as big a revolution in 3rd world countries as the old Nokia’s were when they started being used as a method of payment by millions of people in Africa.

Exchange traffic, in this case, has no bearing on Electroneum’s value.

Wonderful. Thanks for taking the time. I may have to refer people to this post on a constant basis when they start to talk nonsense. Oh and Hi! I don’t think we’ve ‘spoken’ before.

3 Likes

That was just another twitter moron trying to come off as an expert on things they don’t actually have the mental capacity to understand.

He means nothing and can have zero impact on ETN’s success in the markets they are targeting for adoption. ETN’s target market don’t give a crap about what some twitter moron has to say about ETN, all they care about is if it’s usefull to them.

1 Like

you can’t prove a coin is overhyped by showing the amount of retweets it gets. it’s a silly notion.

2 Likes

the headline was this
Cryptocurrency analysis and data platform, The TIE, recently did an investigation into crypto-hype on Twitter. Which tokens are being manipulated the most, through bot accounts and inflated engagement? To compare, it looked at hype-to-activity ratio, or number of tweets per $1 million of trade volume.
although you are completely right, the point that makes this worse is that the people that wrote the report are actually quite credible. the fact that report ignores a few very important points is actually more annoying that the info they released

They have no credibility in my world, I could care less that they even exist.

They have virtually zero influence in any of ETN’s target markets.

A yea or two from now no one will care about any of those twitter clowns or any opinions they had about any subject including ETN except for maybe a few other fellow twitter clowns.

By then ETN will have achieved some level of success that no one will be able to dispute.

The success of ETN does not depend on how the crypto investing community views it, it was out of their hands long ago. The fact they chose to dismiss it is their problem, not mine.

They will be crying to a fellow drunk crypto punk on a bar stool somewhere about their sad coulda, woulda, shoulda stories and the one that got away.

Some stranger will overhear them and pay their bar tab in ETN, smile and laugh as he walks away.

2 Likes

What clowns like this twitter idiot who publish unsubstantiated accusations and outright lies with the intention to cause harm to a corporate brand will one day find out…is the fact they aren’t dealing with some general geeky crypto community without a real life legal corporate entity backing them.

ETN is a real business with real corporate lawyers, so clowns like this idiot may want to watch how far they take their silliness…or they may find out the hard way how real life corporate world operates.

2 Likes

i get the feeling you might not have actually looked at who THE TIE are.
unfortunately for us they are not “twitter idiots” . nor are the claims “unsubstantiated” or “lies”.
The company that conducted the report are a professional outfit of market data analysts
Providing crypto predictive sentiment analytics and market data for over 400 cryptocurrencies. They too are a real business with real corporate lawyers,
the data they published is perfectly accurate .
the report compared the number of tweets to every £1 million of trade for a large number of coins. they concluded that data suggested a large portion of the tweets sent about ETN were generated by fake “bot” accounts to try and “overhype” ETN’s popularity.
my original post here outlined why the information about Electroneum was wrong because most of the people tweeting about ETN were not trading, they were using it as it was intended, as a currency.
i wholeheartedly agree with you one one thing though. in the not too distant future there are going to be many situations like you described.
people going about their daily lives, overhearing a “poor me” story from a passer by or adjacent table and , smiling to themselves, safe in the knowledge that their lamborghini is safe at home, ( ok, maybe a nice golf )

I could care less who they think they are or who you believe they are or what weight they believe they carry.

They still mean NOTHING to me, not a thing.

I read enough to shake my head and close it while at the same time deciding they are incompetent morons.

They will have no impact on the success of ETN. They can’t stop what is happening.

And apparently you haven’t seen the analytics that B.F.A. posts that clearly show there is strong interest in ETN across many platform in many countries

Those idiots can’t dispute those results and dismiss them as bots.

Again, I stand by my claim that they are incompetent idiots and I could care less about them or their existence on this planet.

ETN will be just fine despite any idiot crap they want to try to make up.

1 Like

I didn’t realise Electroneum Ltd had released information publicly on the amount of coins transacted between users/companies through their platform… or that anyone had managed to break the blockchain cryptography to get accurate information on the obfuscated transactions.

…because obviously any serious company would base a review of a currency on its usage, not on how much it is traded (primarily by bots may i add) on exchanges… particularly a project that is known to be targeting peer-to-peer usage as part of an “on the ground” eco-system.

… but i’m sure this company has somehow gathered all that and factored it in on their “real” analysis :+1:

:man_shrugging:

1 Like

And just to be clear, I’m not trying to argue with you at all.

I just have no time for the type of arrogant people like the people behind this article thingamajig clickbait incompetency.

They attempted to discredit ETN and used unproven unfactual crap and tried to pass it off as proven facts.

End of story, they are nobody if that’s how they operate.

In two years they will be gone I bet…but ETN will be going strong.

My argument isn’t with you, they are idiots, you are not.

3 Likes

Hi, Sorry for the late reply.
yes, please feel free to direct as many people as you like to read this. i believe the more people understand this part of our history the better.
P.S i would really appreciate if you could give this post a vote. ( to be honest i am still a little unsure of the benefit of this other than the recognition, but i am sure it would help in some way.

1 Like
Community Terms | Main Terms & Conditions | Privacy Policy | Support Tickets | Main Website