How does Electroneum make a profit?

All businesses need to make profits in order to continue except, maybe, for charities. My question is how does ETN make their profits? I know they give away ETN for free so that people can “top up” their cell phones, but how does the company make a profit? Where does their income come from?

Probably a little late to be thinking about this, but does anyone have the answer?

At the moment I don’t believe they are at a stage to be taking any profit. They raised a monster amount of funds in the ICO that they will be using whilst getting everything up and running. Richard has said on occasion that they will eventually take a small amount on remittances or transactions or something or other…

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Well, how will the price of Electroneum ever go up AFTER everything is “up and running”? If they are going to take a small amount on transactions, the people that say they are “a charity coin” are correct. Businesses are supposed to be profitable, that’s why people want a piece of them.

I have no idea how to run a Fintech company and so I’m not going to get into this with you. Richard has clearly stated that they are not a charity and the coin is not a charity coin. Those that say otherwise must know something that Richard (The CEO) doesn’t. Don’t get caught up in all the lies people tell about this coin. Why not concentrate on watching some official videos for correct information and then making your own mind up.

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Making money is very easy when you have 100s of millions of users… even more so when you have services and infrastructure built on top of the blockchain acting as a bridge between global wealth and global resource.

…not to mention the existing ICO money which is more than enough to fund the infrastructure, development and marketing to kick the eco system off.

ETN is not a charity coin, Electroneum is not a charity… its a noble route to market… which is targeting a HUGE untapped market. Unconventional in the crypto space, taking a long time to get setup due to its commercial setting, but with MASSIVE potential.

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Oh! Okay, that’s what we’re waiting for - 100’s of Millions of Users.

Thank you, BegaMutex. Looks like it’s gonna take more time than some of us thought.

Oh! Okay, that’s what we’re waiting for - 100’s of Millions of Users.

Thank you, BegaMutex. Looks like it’s gonna take more time than some of us thought.

Not sure why people would be “waiting for” a time when the situation is ideal for Electroneum Ltd to be moving into additional funding streams… but OK. :shushing_face: :man_shrugging:

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As for me, I just want to take out my initial investment and let the rest ride.
At the moment, I am down 2/3 of my initial investment. I don’t like being in that position.
Not a good feeling.

I’m a bit confused. You know you haven’t invested in Electroneum Ltd the company and whether or not it makes any profit makes no difference to the coins you’ve bought - right??

Electroneum Ltd is wholly owned by one of Richard’s media company’s, Redcube I think, and should the business ever make any money, it would take all of the profit.

You have speculated that the value of the ETN token will rise in value through increased demand, just like a precious metal might rise in value.

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Yes, I know I didn’t invest in Electroneum, Ltd., and that I invested in the ETN coin, but I had no clue that ETN coin will rise in value through increased demand only. I really thought they had to make some kind of profit. I’m totally shocked!

Are you saying that all these many crypto coins from different companies only rise on demand, and no one has to make profits? I want to understand this.

Oh my goodness! I just found this. It looks like if Electroneum goes into every country, we are all going to be very, very rich! :smile:

Cryptocurrency Price Determinants

The number one determinant in the price of cryptocurrency is supply and demand. This is Economics 101. If a specific digital currency has a high amount of supply but no demand from users and traders, then its value is going to drop. It works the other way as well. If the supply of a cryptocurrency is limited and it is highly sought after, then the coin’s value will increase.

Public sentiment along with the media can also be key drivers over the prices of digital currencies. For example, if a specific platform or token gets negative press, you might see the value of that coin take a hit.

On the other hand, some high profile coverage and support from the media would almost assuredly cause a price to rise. Therefore, the price of digital currencies is influenced a great deal by hype and human emotion.

Of course, there are other factors that determine the price of cryptocurrencies. For example, the usefulness of a token can have an impact on its price. Is it truly solving a problem or is it just another coin taking up space on the market?

Full article: https://toshitimes.com/how-do-cryptocurrency-prices-work/

Thank you so much for the heads up, M44FFW. :smile:

I’m afraid that every crypto’s price is based on supply and demand and nothing else. There is no limited company business behind bitcoin and most of the other coins are run out of peoples bedrooms.

We are very lucky we have someone with Richards’s track record behind us, a proper business and people who can achieve. This all might take several more years though, definitely not over night.

I understand you might have lost some money but in this early stage of crypto, everything invested is a massive gamble and may not be the right vehicle for you :frowning:

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Thanks again, M44FFW. Now that I understand Crypto 101, I think I can handle it. LOL LOL
I can’t believe that I didn’t know the basics of crypto. I do so much reading, you would think I would have come across that somewhere. I really thought they had to make some kind of profit.
So glad to find out that is not the case. Thanks for the education. I see Electroneum in a new light now. :smile:

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