I dream about Coinbase for ETN
I’d really like to see the price go up for the little guys, the hairdressers and car washers, the taxi drivers, the ones in countries where we haven’t launched yet… before big whales start spouting their millions.
If the whales didn’t support it in the early days (for whatever reason) then don’t see why they should be first in line for profits. Maybe I’m being naïve, but surely the money velocity and network effect thing works better or just as well without a small number of big investors?
Just a bit annoyed at the moment by some recent “charity coin” blather, from people who only see things from their western perspective and don’t understand that enablement is not the same as charity and the people in Africa are not “charity cases”.
Look what whales have done to Bitcoin, who needs them turning it into a rich kid’s plaything.
Agreed. It’s not charity, it’s investment in more than a billion and a half people. It bothers me that people can’t see that. There is a massive market there. They are now connected to the web, and are becoming educated, just not in the traditional fashion your average westerner expects. One of their more immediate educations, is the recognition that the world economy has left them behind and has not attempted to involve them. When people with little are given opportunity, they do amazing things. This will be amazing to watch unfold.
That is a good way of putting it, thanks I’ll remember that one.
I think some of it just usual deliberate misunderstanding from external troublemakers. Current investors should know by now what’s going on, they aren’t that thick surely? Don’t answer that one.
Yes, of course everyone in Africa is sitting in a desert starving, with distended bellies and covered in flies.
That is when they are not chucking spears at each other.
Took a second for my sarcasm detector to kick in lol. Ya. These are some of the stereotypes that need dealing with.
I mean we haven’t even seen the effect of proper coin circulation yet, and AnyTask, or more countries etc.
I just like to think it will have a value because of all that without fat western pigs, but if it doesn’t work out that way then bring them on… oink! oink!
Hey I resemble that remark lol
You can bet someone without a sarcasm detector will soon be along to tell me off and make themselves feel good.
It’s the internet. Already wrote an article in my blog about you.
You may have missed the part where I said US residents who are new to crypto – they cannot open a new account on Liquid, KuCoin, TradeOgre, et al. Even if they could (but they can’t), the liquidity could not support such orders. If I gave you 20 BTC right now and told you to go pick up 50M ETN you couldn’t do it without causing the price to go up 100’s of percentages. This is a real problem for them. Liquidity and regulatory compliant access.
The types of people I’m speaking about are not “rebel investors,” and it should be noted neither are VC firms and Angel Investors, but the latter are willing to speculate through proper licensed and regulated channels. Nobody is arguing the risks involved, but there are right ways and wrong ways of doing things. A fully licensed and regulated US based exchange for the first fully KYC/AML regulatory compliant crypto is not too much to ask.
Well that’s what investors want isn’t it? The price to go up? Where would the extra supply come from to enable them to buy 50M ETN without causing the price to go up 100s of %?
They want to have their cake and eat it. Nice and stable while they are feeding at the trough, then BOOM afterwards, well that’s tough if it doesn’t happen for them like that.
Very respectfully, Pete, I really like you but you miss the obvious point… I couldn’t have been more clear in my posts above; the points are valid and factual.
There are US residents who desire to have a percent allocation in ETN much the same as you or anyone else has. Comparatively quantifying that percentage may be a larger or lesser sum of ETN, depending on one’s situation.
The benefits of listing on a major licensed and regulated US based exchange are too numerous to list, I’m rather shocked it appears most don’t get it. They all will when the day comes we do list… I’ll yield back now.
It’s because you specifically mentioned HNW individuals and 50M ETN, not average joe investors.
If we are talking about the middling guys who only know the coins that are on Coinbase, then I agree with you. But I still wonder where this extra supply will emerge from for them.
Perhaps They could be put in touch with the 3rd party and OTC desk involved in the 3rd party airtime and data topups and/or whoever is doing the ETN conversion from credit card payments.
HNW investors would have some experience dealing with OTC desks at some point in their investing journey, I’d think.
That’s one way to do it and not effect price, while having access to supply that may not be listed on an exchange.
Virtue signalling SJW!
Appreciate the thoughtful solutions here, thank you. Yes, I could sell them the ETN myself but that is not a long term nor widespread solution. I am not concerned about my small group alone; to be clear, I’m talking about widespread access to all US residents new to crypto to have a clean, lawful way to buy ETN. Right now they cannot. For simplicity’s sake, forget I mentioned HNW: Any and all persons interested in ETN who reside in the US have zero access to legally and lawfully buy the coin right now. When this changes - in the form of a major US exchange listing - we will see unprecedented demand and liquidity for the coin.
I guess when it does eventually get listed on a fully regulated and licensed US Exchange that’s when Algoz would be expected to perform their magic, provide liquidity.
They must have a big stash set aside for when this does go crazy. I’m guessing that would have to be the case.
I was going to say it is more of a Bada#s Coin… but then I found I couldn’t say “a#s” on here.