Wait so y’all haven’t heard??? man I did a crappy edit
Do you think the key is to “freeze” the money and have it stored somewhere? Because that would affect our Trading Volume and if thats too low it would mean that the “Support” behind the project is not big and this could lead to a sell-off or even delisting (if mostly inactive). I think we need more use-cases and people need to start spending and buying, that drives the economy because the money circles around in a higher volume, what do you think?
I generally place several orders all below the current order price down 4/5 sat’s.
and people with with weak hands selling…
Personally I haven’t been spending although I have donated to some people to get the currency circulating a little, I’m not sure that it affects much but my thinking was that if we distribute the coins a little then we have a stronger team of hodlers. This coin is about altruism to me and I like the concept an awful lot although I’m also holding for my own gains obviously!
Just received mail from Ells
I thought lvl 1 is enough for holders but seems thats not the case.
You are getting this email as your Electroneum account will need Tier 2 or Tier 3 KYC (Know Your Customer) see below…
If you follow our social media or news you’ll probably have seen that we are integrating something called KYC and AML. These stand for Know Your Customer and Anti Money Laundering. They are regulations that are adopted and maintained by financial regulators from around the world.
Firstly, we’ll ensure that no legitimate user is locked out from their ETN. KYC is nothing to worry about (assuming you are not laundering money!) and we are making it as easy as possible.
Why are we doing this?
We are embracing KYC/AML regulation because we’ve been negotiating the integration of ETN with some very large mobile network operators, and various corporate partners and in nearly every instance the negotiating stalled at the lack of adopted regulation by cryptocurrencies. We are breaking that mould and embracing the normal regulatory environment that a FinTech (Financial Technology) company would be expected to adhere to.
Embracing regulation decision will be a hugely positive one for Electroneum and will unlock doors that are firmly locked for Bitcoin and every other cryptocurrency that exists in the unregulated world.
How does it work?
The KYC system works via our smartphone app and web wallet system, it does not operate on a blockchain level.
What are the KYC Levels
Most people need to do very little. Tier 1 covers most of our global users and all we need from you is your Name and your Country. We do not need you to provide any documents to support this information (it is self certified, although we may use IP address and phone number information to corroborate) and this covers usage up to 150 Euros of value in your ETN account over a 3 month period.
Tier 2 (requires Yoti app)
Effects people who hold or use over 150 Euros of ETN value within 3 months (or during ICO) but less than 10,000 Euros of value.
Tier 3 (requires Yoti app)
Only effects users, who hold over 10,000 Euros worth of ETN in their mobile wallet account, or have had over 10,000 Euros worth of ETN move through their account within 3 months or during ICO.
We’ve teamed up with Yoti, a popular KYC app that makes identifying yourself as easy as possible. You’ll only need to use your Yoti account ONCE for Electroneum. However, once you’ve set up your Yoti you will be able to use it for other projects that accept Yoti, as it stores your KYC information securely for your future use.
At the moment KYC is optional for ALL users. You can currently move your ETN around without restriction. We are using this time to onboard as many users to our KYC system as we can, and learning from (and overcoming) any problems that develop.
We were aiming at a hard launch (mandatory KYC) for the 10th of October but we are pushing that back to the 12th of November as we get through the KYC backlog and onboard our expanding KYC team.
On the 10th of October we are moving from “soft launch” to “Tier 1 Required” - this will simply mean that Tier 1 becomes mandatory for all users (i.e. provision of your Name and Country).
If you would like help or have questions about KYC - please direct your attention to our community forum, where you will find a KYC FAQ (frequently asked questions and a demonstration video - KYC and AML FAQs) and community and staff support in the HOW DO I? Section - https://community.electroneum.com/c/how-to
Remember that even though we are saying the KYC system is aiming for hard launch on November 12th, your ETN is not in danger if you leave it past this date - you might need to complete your KYC to access your ETN after this date - but if you are a long term HODLER (crypto term for holder!) you can complete your KYC in the future, as long as it’s before you want to use your ETN.
Yoti KYC verification speed
The Yoti team are quite fast, although if they are busy it may take a while before you are verified by them. Please be patient. Also if you are
Electroneum additional supporting documents speed
The Electroneum KYC team is expanding and verifying documents as fast as we can - please be patient and get your KYC done early if you can.
As always, thanks for supporting Electroneum!
Have a great day everyone,
PS - Don’t hold your ID STILL when showing it to the Yoti app - it looks like it’s taking a photo but it’s actually taking a video. Move your ID slightly in front of the camera to show the hologram or watermarks and you’ll get your Yoti KYC validated faster.
Gr8, m8. If only Yoti accepts documents from my country. If only….
Looks like all your buys orders should now be met. How many coins did you get?
I still have quite a few on KuCoin and Craptopia I had most of them filled. Well over 2 million coins purchased today and the day isn’t even over. lol
Its over 9000.jpg crunching visor
Wow. That’s a hell of a lot of coins.
Is your pool still on track to be over 300?
We hit that amount weeks and weeks ago. We have topped well over 1 billion coins and with the all the dumping does not look like there will be a end in site. Lol
Not going to talk much more about this as the powers that be do like us to discussing what we are doing or not doing. Just know we are doing what we can to support our price and hold on to our ETN.
Anybody here signed up with Next Exchange? If I’m remembering correctly they have unique wallet addresses for all the coins so there trades will show on our block chain. Maybe the spam like 31.60, 29.80, 22.60 ETN transactions we see on the block explorer could be someone on Next Exchange wash trading if there is some kind of trade volume promotion going on there where their trade fees get refunded.
FYI, Coinbase got their custodial license…I don’t see a dip on BTC anytime soon. Now…we need ETN to get on it
Are institution buying into ETN or have they already done it? If not they might soon be in hurry! If M-kid`s group got more than 12% of total available supply, the week hands must be a lot smaller the last month, and they might not show up before we hit a dollar.
mkid made a bold post saying he or his group holds 1 billion?. ‘IF’ thats true , controlling the market is easy and can slam every investor including us with close to 50 million into the ground. But this is the internet in all…
Think about that statement… Why would ANYONE want to buy at 350 and 300 and 280 and 260, just to sell out and get a total of 38btc? Look at Cryptopia, there’s only 8.7 million ETN listed on buy orders. Slam the price down and sell the 300 sat orders for 2 sats? nah… no reason to think like that at all. Sell these peanut prices for what? crumbs?
1.7cents would not be our price target that we would want to be selling at, try closer to $100 per coin in about 5-10 years! lol
Besides all us greedy Whale Bastards would like to be billionaires so we are going to have to wait till we crush the moon and hit Uranus for that to happen! We want to start the first ever ETN billionaire club and if things go well for us the club will be packed with members! lol