For the past week few days I’ve been trying to prepare a YouTube video and have discovered that it’s just not my thing. I prefer more casual speech with back and forth conversation either where I could debate with someone or have others ask questions. So I’m going to stick to writing posts to give clarity and battle newbie investors’ fud. I’ve recently started writing for thebitplex.com and have a post for electroneum submitted for review which has been pending for about a month now, so I’m hoping it gets through sometime soon. I was told it paid, though I haven’t seen a dime yet. I haven’t bothered the person that welcomed me to the team yet either simply because I would’ve done this for free anyways. I’ll be asking sometime after this last post is submitted.
Anyways, here is a message for those who’ve become uncertain in this market towards ETN!
Firstly, I need to give a very brief explanation about what Bitcoin is before I get to electroneum and others to help convince everyone not to worry as much about the other currencies that are competing in this space. EMany of these currencies do have different traits that make them somewhat unique and beneficial under certain circumstances or with certain systems.
Bitcoin is basically the safe haven of cryptocurrencies, and probably always will be. Here are some reasons why: Bitcoin is the most well-known decentralized asset that is almost entirely mined by users with no known third party that can make changes to the blockchain. The max supply is static and will always be capped at a total of 21,000,000 BTC. Even though Bitcoin is slow and intrinsically cannot be scaled, developers are able to work on creating other layers of tech that they could run the BTC blockchain on such as the lightning network. Simply lacking malleability is almost everything to many of these users and Bitcoin can still fulfill a purpose of at least becoming a standard or store of value that is used to compare the value of any other crypto assets.
electroneum: ETN is certainly a currency designed with a brilliant plan that will continue to benefit any of us people on a global scale. How? ETN is an ASIC-friendly cryptocurrency with a minable supply both by hardware miners and airdrops by phone on their simulated mobile miner app, giving everyone equal opportunity to willingly become a user with ease and earn some ETN for themselves. They have the easiest to use app with software that allows instant payments using their wallets, making it a feasible currency to use for vendors.
ETN’s plan for mass adoption will be a great lead-in to this space that the outside 99% of people that aren’t involved with cryptocurrencies could easily integrate this technology with their lives and benefit from it. Partnerships with mobile providers that can market to their subscribers offering double air time and a small income of free ETN to help shave off the costs of their phone bills will help educate and promote use of these cryptocurrencies. Once we have people using this currency for even just a few of these things, people may think why not accept this currency for other things if I can use it to pay for a necessity like my phone bill?
As the currency grows and gains value, there will be more incentive for people to put more of their mining power on this coin which would help speed up the network over time. More businesses that see the usage and growth will probably start accepting the currency as well. I’m not sure exactly what the plan is when 0.01 ETN becomes too valuable, but even if they resorted to some sort of inflation, at least it’ll probably continue to be redistributed through mining to us rather than some higher entity. Also, this would make Bitcoin even more viable as a savings if ETN did use the method of inflation Another option I think would be to simply add another tab on the electroneum app to swap representations of the currency you want to spend in, almost like Bitcoin names 0.001 as 1 millibit.
There are few other currencies with real ideas behind them, but you shouldn’t worry about ones that are said to be “too big to fail” like XRP is. The reason I say this is because many smart people that have been in this space a while are are very bullish on Bitcoin itself know that Ripple doesn’t have the same views of a cryptocurrency and that XRP doesn’t provide the same vision other crypto assets like BTC does. It’s going to be next to impossible for anyone to convince them and pry BTC out of their hands in exchange for a lesser asset entirely sold by one entity and that is being implemented into the legacy banking system that have also made deals with the feds while also not having picked out the brightest people to promote their currency.
XRP has been prematurely marketed and Ripple constantly tries using tactics to dominate the media and pump their currency’s value, which is currently still floating high. They’ve even resorted to manipulation already with a whopping 2/3rd supply lockup as well during the bull run to steal the spotlight which is where they’ve gained most of their investor support. Even if XRP succeeds in replacing our current fiat currency like they want to, we are very likely still going to have our other currencies that do have much less control than Ripple has.
There are also other coins like XVG, privacy coins, which have their own relevance in the space as well. I don’t believe we will have more than two privacy coins surviving for a good length of time, and so far I think XVG is the best bet as it can also work publicly when you are required to have the transaction go through transparently to the entity you are paying. I’m uncertain as to how well they will perform and I tend to think that the value of privacy coins will greatly be determined on how government reacts, because a true privacy coin cannot be stopped and would be a last resort currency in many people’s cases if they disliked the government’s choices and thought they were restricting too much of their freedoms.
For these reasons, I think ETN would be widely accepted by both cryptocurrency enthusiasts and everyday people where government operate within reason. Forget the fudsters that think they know what they’re talking about that have a tendency to never argue their own points they won’t even try to make. XD I’m dealt with so many of them and they’re hardly willing to clarify or continue the debate when I back them into a corner in conversation.
Also want to mention that ETN is my #1 altcoin currency that I’m invested in. I also have a certain utility token that I’m quite confident about in the market. ^^" So you can count on me to keep defending this currency when I have to, and have been fighting for a while.
Also, if you’d like to check out the article I posted, I have a link below.
I’ll post whenever the ETN article goes through.