So far ETN is traded on a few, small and unregulated exchanges with low volume.
Investors with real money usually trade cryptocurrencies on high volume exchanges like Binance or Bitmex. These exchanges have a decent reputation, and are less likely to manipulate price or volume.
Big investors are not likely to set up an extra account at MyLittleScam_TradeAnyICOThatExists_Exchange to buy or trade ETN.
When ETN product is finished and marketed, it will be traded on a decent exchange like Binance.
For now, you cannot simply assume Electroneum Ltdās Business Valuation = Market capitalization based on price on a small volume no-name exchange.
IMO, etn is going top #5 in 2019 and will not die, even if price goes to 1 sats on a small exchange i 2018.
Crypto needs an insertion point to enter the mainstream. As it has been pointed out in the past there arenāt enough compelling reasons for people to use it and its still more complicated than most people can handle. I can see very soon there will be a major economic reset happening with the global economy. When that event takes place and confidence in banks starts to erode you will see a massive uptake with crypto. ETN is setting up the ground work for when that happens right now. You need recognition and some regulation or it wonāt work. Most of the coins out there are going to fail and the ones that put the time in to do it right will be successful. Give it another couple of years to be really widely accepted. Just buy and hold for now . ETN has the backing to be successful. While we wait for the economy to change the unbanked aspect is helping to grow the distribution of ETN and the name. I think all the bases are covered so just hang in there.
I just wish they wouldnāt have made that circulating supply so dang high. 7 million dumped on exchanges daily. Electroneum Ltd. needs to turn their own miners on and burn coins.
We going to need a high circulating supply when users run into the millions. The current price is irrelevant and an illusion. The value lies elsewhere.
This wont be a concern when/if the mobile service providers start selling phones with pre installed ETN mobile app. Or when the marketing begins and millions of new users are attracted to electroneum. Richard has mentioned many times that they plan on mass adoption which will need a high circulating supply.
Sorry but if you really believe that the coin will be worthless one dayā¦ then why donāt you sell now and get out?
I am in this for the long haulā¦ this coin will never be worthless unless something catostrophic happens in the futureā¦ AND I do not see what buying more ETN has to do with ASIC minersā¦ Granted my mining went from 60 coins a day to around 5 coins a day at the fork mining with my GPU miner but for the health of the coin network and keeping it stable I can see why ETN team allowed them back inā¦ IF I was you and I am not I would just hold what I have for 5 years and see if my complaint had any meritā¦ personally i think you will be quiet happy with your stash in that amount of timeā¦ but maybe notā¦ who knowsā¦ it is all speculation at this pointā¦ I do know we have a solid team and community in placeā¦ I will back them until the end if there is one comingā¦ lol
Iād much rather be the tortoise than the hare in this race. I feel like a lot of flashy coins are just flashes in the pan and will quickly fade. Iām invested heavily as well, but I really feel like the business side will develop and grow substantially with time. Iām aggressively optimistic about the future!
Thats how I feel about it. The tech releases this week are a vindication. Everyone who held etn should feel a lot better now that we have tangible and indisputable results. Let the fomo and mooning begin.
Mass marketing will come in 2019, as Richard stated.
Until then, they need a 100% working product.
If you donāt know the rule of the 5 Ps, this is how ETN is managed: Proper preparation prevents poor performance.
Donāt worry, in the near future Binance will now ask ETN to get listed, and not the other way around.
Who remembers how Facebook gradually grew to the mammoth it is today?
I remember the day it was launched and still canāt believe it is real.
Patience!
No, until profit, we need smart thinking. That will come also, but you have to build the base. If you have a strong base, you can build wonderful things on it. If the base is flimsy, just for the sake of having it, the project will be destined to disaster.
I am confident, because I see how ETN is led and thus I have no problem in believing that all these ideas they want to implement (which are impossible to reach for other projects), are indeed tangible.
The dynamics are different than that of 2017. I am no fudster, nor am I an expert with crypto. So my thoughts might be flawed, but itās the way Iāve been understanding things lately. We have a situation of millions of ETN being dumped on the exchanges to sell. If not all of it is bought that day, it accumulates. There are 10 million ETN sell walls just on Cryptopia alone that seems permanent. That 10 million is literally about 80% of BTCās current overall circulating supply. Thatās ALOT of crypto being dumped as if itās an endless amount.
-ETN mining. ETN was not being as heavily mined back in 2017 early 2018. It seemed to me, once ETN was listed on more exchanges and people started GPU mining, more was getting dumped to the exchanges, prices started dropping. Then came along ASICs to make it even worse. They use less electricity than the GPU mining rigs, so across the board with all crytpos that are being ASIC mined, the ones that are dumping to the market can do so at a lower price since their cost of electricity is lower.
-New tax laws within the US. Those new laws say that if someone wants to daytrade with cryptos, or sell crypto for crypto at a profit, they are going to owe taxes. Although obviously a lot of people (especially teenagers) completely ignore these laws or are unaware, a lot of people involved in cryptos in the US stopped their daytrading activities.
-Future contracts for Bitcoin from the Wall Street side. These future contracts for the most part have bidded Bitcoin to lower prices, not higher. Although they are just contracts or ābetsā, Iām not sure of the mechanism, but it can affect the price of BTC up or down. In 2018, itās always been down.
-The mainstream media hype is no longer there like it was in 2016/2017. This triggered people, even people who knew never heard of BTC, go get into it. This pumped BTC like a balloon. A lot of those people might have quit buying or sold. The buying isnāt there like it was.
Good analysis there but to a point and show many misconceptions. First the amount of coins emitted does not change with increase computer power into the network as it stay constant what has changed is that ascis miners are more likely to dump their coin as soon as it is mined (but as big a cult as we are we have etn hard code fans who are buying the ascis and supporting the network). 2018/19 bull run if it ever happens (of coz a big if ) will not be retail driven (as you rightly pointed out that those entered late last year would likely have exited the market completely) but institutional driven. The financial institutions need the price to be as low as possible before they enter (as they need to make the first bulk of the money looking after their own pocket first) beside it is a lot easier to sell a product when you can say there is a potential to 40 times rather than it already had gone up 40 times but we think it is going to go higher. The only thing I am 100% agree with is the bitcoin future contract as it is a lot easier to short Btc this is what most people are doing and thatās why you are seeing the narrow channel between the mid 7000 to the high 5000 play out in the last few months (as they eventually have to close their positions therefore buying occurred). This will slow down the growth in price of Btc as you earn just as much if not more if you can gain 20% every 2 weeks and a easier way to control the market as your average retail customer is not going to sell within this narrow band.
I read a few of the comments but would like to raise a different perspective. Letās say ETN gets 100m users by partnership and growth in developing countries.
Lets assume 10% decide to buy ETN for $10 a month by subscription model due to the fact that the use it daily.
In my opinion youāre hopeful on a pump situation, where your investment will increase. So youāre looking to make money. Offcourse, everybody wants ROI, but this cryptocurrency does not intend to make rich people richer. The thing is that weāre talking about an enablement currency. With ETN itās possible to connect the unbanked with the banked. This is huge, and has nothing to do with getting rich and get the price up. If itās up to me I would rather go away from exchanges instead of attracting them. Just my 2 cents.
Just like fiat/forex, there has to be a legit exchange were you can to trades. It will continue to exist with cryptocurrencies also. Electroneum solves the spending problem thou.
Correct. Youāre right. Do you think existing exchanges are here to do exactly that? Iāve got the feeling that most people who are screaming for a listing on ābigā exchanges are looking for a price increase.
Iāll have to start to say that I didnāt read the full thread, when commenting.
I do believe there has to be competition in this market with volume on multiple exchanges. But I do not think more exchanges will automatically increase the value of the ETNBTC or ETNUSD pair.
Trade increases value, so if ETN can be used in real life, then value will grow organically. And Electroneum are giving away ETN every day for this purpose, to everyone, everywhere.
The goal should be to raise partnership with exchanges and banks that can supply products and solutions which fits Electroneumās eco system.
Everything from fiat transfers/debit cards etc etc.
