The 2020 Fomosapien club vol 3

It’s cool Winky, I could tell you are a little grumpy and I don’t blame you for that, sometimes it seems things are moving slowly, but we are still making progress.

I truly believe that one day we will be known by all in every corner of the world. When that day comes is anyone’s guess. I think once it starts rolling it will happen quickly.

I’m still betting on cross border personal remittance playing a huge part in adoption at some point…just need the fiat on and off ramps or an existing remittance biz to integrate us into their system. Eliminating fees might help in that area. Maybe that gives them a big enough cushion to make fluctuations in value tolerable If they can charge $3 - $5 or maybe even less in fees to send a transfer that costs them zero fees to send, then maybe it’s all the sudden more attractive a proposition.

At least I think that’s what Richard said, they will be eliminating fees on transfers that occur within the wallet to wallet system. So that seems to open new doors for remittance possibilities IMO.

But then fees were already stupid low, so who knows.

Yeah, I despise using financial apps on my phone, or downloading apps I have no idea what’s going on, what info they are gathering and sharing.


Ahh i see what you mean. That’s a good question, I’m reasonably sure there is no bridge between those services but never specifically asked. Rich has mentioned in videos the AnyTask purchases are made from the open market so i don’t think there is any link to top-ups.

Even if it was however, that wouldn’t make any difference as now there are no rewards, top-up ETN would have been purchased from the Open Market anyway. So either way its originates with FIAT not block rewards or premine ETN.

Good question though, especially if the same middle man was used for both services.


Definitely and yeah that’s what I understand aswell, and also I’m sure that the app was supposedly going to get a TRUE instant payment within app-app transfer, still occuring on the blockchain somehow.
And no, i’m not talking notifications. Truly instant trasnactions within wallet.
But it was a long while ago I read or heard those lines, pretty sure it was on the roadmap even a while back but I can’t find it anymore.

Does anyone else remember hearing truly instant transactions within the app? I’m almost a 100% sure it was supposedly to come this year.
But I could have misinterpreted the wordings also.


Richard stated in his latest interview that they just submitted the FCA application 2 weeks ago, and should get approved by Jan. 1st. The FCA is with the UK, not the US. But it will give ETN the “backing” she needs to expand into the US market and so forth.


The work the team are doing in the US does not require the FCA I believe tete.

Electroneum is not getting “regulated” in the US, it’s just getting the necessary legal acknowledgement to make its standing clear (in terms of security/legality of the ICO etc). This allows the team to push ETN in the US market (this would obviously include US exchanges, but also other things as well).

The team could of course push forward without this, but that’s not how Electroneum work and not something you do when you are in the middle of being assessed for FCA compliance in the UK as you mentioned.

More red tape, but that’s just whats required when working in the fin-tech sector and ensuring you meet all the necessary regulations and requirements. A price we pay for attempting to break into mainstream markets. A pain, but will be worth it moving forward in an industry rife with questionable practices. Time spent now will pay it forward tenfold down the line.


Instant payment can’t happen on any distributed system with any level of decentralisation. Consensus takes time.

However, with the changes the team are making it can be close.

The instant payment API can hold the funds (as it does now) and then a 1 block confirmation (on the new consensus model) would allow the funds to be used very shortly after in the receiving account. (i.e. seconds or minutes). That’s not instant, but certainly performant/close enough.

The team are dedicating a lot of time and resource to taking the performance of the mobile wallet, instant payment and blockchain to a level where it both users and businesses will be happy. As with any software development, future cycles always focus more on performance…and there is plenty of scope for improvement.

Looking forward to everything that’s being worked on. When it comes to UX, often the “little things” make all the difference.


Aah yes exactly that’s what I was reffering to, It was so long ago I can’t remember exactly how it was phrased.
So we can confirm that this is still undergoing work?
Thanks, I have been trying to back track this information for quite a while now and haven’t been able to find it.
This is probably one of my most hyped updates for me personally, it really doesn’t change anything honestly, but it is a very desired update from my perspective:D


I was thinking more of where the ETN goes to compared with where it comes from ie. AnyTask ETN is fine because it goes to individual users, but top-ups ETN can still end up being dumped in big chunks if the neat and tidy system that some of us imagined isn’t actually taking place ie. not ETN>Top Up>3rd Party>AnyTask Seller>Top Up but actually two systems 1. ETN>Top Up>Dump and 2. ETN>AnyTask Seller>Possible further use or dump.

I understand there are probably some commercial arrangements that we don’t know about and that’s fine, I just like to know how the ecosystem works.

Someone here, sorry I forget who, made a very nice and complicated diagram showing the flow of ETN around the ecosystem a while ago, but it perhaps needs to be revised!


Here’s the stats

Heres the motivation


Have a super Sunday…

Time for the british grand prix. :racing_car:



Yeah, not sure. Might be a good question for the next AMA with Richard :+1:

Ultimately it no longer matters. Without rewards any more, top-ups are paid for from ETN purchased on the open market. So even if it does overlap (which i don’t believe it does), it still gets purchased from the open market.


Daily stats

Inspirational quote…

Whatever you do
Wherever you go
Stay safe and above all
Stay strong.



Things are looking good guys, price moving in the right direction.
Just need to smash the next line of resistance and its up up and away.
The next 24 hours look very exciting indeed.


Hi @Zero7 and welcome back to the forum.

Are you a TA person? If you are then perhaps you could post your TA in the Technical Analysis section - or is this more of a gut feeling you have?


Welcome back @Zero7



Are yoy sure about that? :grinning: down is not a good direction haha :wink: hope you right and we will see smoon :rocket::rocket::rocket:


Thanks bongo and plankton.
Its good to be back lads.


‘We expect to launch a full, countrywide crypto ecosystem somewhere in Asia in the coming months’
This article is a couple months old so you know things are cooking in the office :innocent:


:zap:Heres the stats :zap:

:heart:Heres the inspiration :heart:

Have a Tremendous Tuesday everyone :grinning:

Stay safe
Take care

Of each other.



When taskschool? …

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And you have a tremendous day too plankton and I would just like to take this opportunity to thank you for all your hard work and dedication to the forum.
Its good to have you here

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