HODL vs SPEND ETN


#1

it seems the last thing this project needs is large holders, as the aim is to be a usable coin. what do people think? i’d love to see the etn team use some of their large reserves buying random things from vendors who have started using the api, instead of just airdrops to the android app.


#2

Both, Hold, and spend some. I’m spending £2000 worth of ETN on a homebrew campaign to get people buying coffee in starbucks on a trial basis.

I’m also tipping volunteers who help out in pushing the project forwards in ETN.

It’s a two pronged attack, with an easy short term goal, and harder long term goal.

The short term plan involves a bit of a hack workaround with us acting like an abstraction layer between customers and starbucks, like the driver layer between the Hardware (Starbucks) and software (the customer)

And livestreaming it to show it can be done.
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The Long term goal is getting Starbucks to actively participate, which involves a community petition letter, the first draft of which I’ve just put up on the Crypto Trial at Starbucks forum thread.

So yeah, Spend AND hodl, the Spending will increase the value of what you hold in coin far far beyond the amount you spend.


#3

Balance : well you need large whales HODL to make the price move up fast and high. This is how the masses, especially in second and third world countries will get wealth creation and transfer. :slight_smile: Over time velocity and price will increase as adoption and use cases like mobile networks and venders flourish, as well as finance in ETN.

Something like 7 million new coins a day. So plenty to go round for some time with 8 billion coins in play and max supply 21 billion (with 2dp). Other large players like Miners and Large ETN players may be issues.

Ultimately the project will live and die based on high user numbers spending, and not just large HODL.