Virtue signalling SJW!
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.
I guess this is one contributing factor for the crypto winter generally, not just ETN… if US buyers are shut out.
Yeah, I totally agree with you on that Jeff. I’m in the US too.
I was more thinking that your group, if they were granted access to the OTC desk ETN is working with, it would possibly be good for both parties. OTC desk is probably handling the inflow of ETN the 3rd party topup processor is accumulating and may also be supplying the credirt card processors supply for ETN conversion.
But at some point the incoming ETN they have may outpace the outflowing ETN for anytasks and there may be some available supply that could be acquired without worrying about spiking the price on exchanges, making it hard to acquire millions of coins without paying more for each lot.
Another thing to consider is once Liquid goes live, maybe Algoz can do the thing they are supposedly hired or partnered with to do, provide liquidity according to demand.
What you bring up are valid issues for US investors that need solutions no doubt. The sooner the better.
If Coinbase listed ETN it would give me a reason to use that exchange again. Until then, Cash App for BTC to turn into ETN.
Yes, I agree on all of that for sure.
I was thinking the other day that we are close …by we I mean ETN is close to being in a place where the marketing can be ramped up. We aren’t quite there yet, but it’s not far off.
When it is time and the marketing beast is unleashed, I was thinking that it would be nice if there was a solution already in place for US investors to easily acquire ETN.
So let’s hope something happens before fullblown marketing goes off.
Make no mistake I am super pumped for AnyTasks; not necessary for its launch per se, but for the weeks and months (and years) ahead for the project. AnyTasks will be the very first effort Electroneum have put forth to actually drive real demand for the coin vs faucets and liquidations (mobile miner and top ups). If marketed and advertised aggressively (this is key), then the sky’s the limit.
+Twenty thousand satoshi for character limit.
I think we all are pumped for anytasks. Me mostly because of the impact it can have to improve the standard of living for so many around the world who up until now have been excluded from participating in the global economy and all that comes with it.
It’s a game changer in so many ways, and yes, it should increase the demand for ETN and drive use of ETN in local ecosytems of vendors, shops and retailers. I’d like to also see an ATM network pop up that enables the use of ETN.
I still think cross border, personal remittance will be one of the biggest uses cases for ETN once everything is in place to allow it to happen without friction on either end of the send/receive. By friction, I mean easy to send/acquire to send, easy to spend or cash out in local fiat for the receiver. It’s going to happen, and once it does remittance senders won’t look back or ever bother with the methods they’ve had to use in the past.
Has anyone from the US thought about the tax implications of AnyTasks. What about selling digital services and getting paid in ETN, doing your taxes will be a nightmare.
Maybe the platform will have the ability to print or download accounting statements with spot price of ETN at time of payment.
Similar to what they provide with the instant payment system API for merchants.
I have no idea if that’s the plan, but seems it’s probably possible to do for anyone anywhere that needs such records.
Well I totally agree with you and I appreciate your passion for clarity. Thanks for entertaining A silly Whimsical Notions. Not sarcasm. Lol.
You’ve made excellent points. I was not really aware that you could not make new accounts. I primarily used tradeogre although when I found out liquid was going to be shutting down or disallowing US customers there was rumors that we should remove our electroneum or any coin from liquid.
I count myself blessed to still have the ability to buy it on trade ogre on a regular basis. Come to think of it now I think after telling somebody to try to make a trade ogre account that they were never able to and that was some months ago maybe even close to a year ago.
We really are blessed to be in this early. I’m just going to keep accumulating as long as I can
ETN is getting out there
…so is using BTC here in the US to purchase at Starbucks, Nordstrom, and Whole Foods. And yet folks are doing it every day (via Spedn app).
if etn’s price were $10 it would be in the same group with the big boys volumewise. would you say then that it’s 95% washtrading?
I didn’t say anything about wash trading, CMC themselves referred to it… so what’s your point?
You believe fake volume is not a thing?
CMC revealed the news during the first virtual roundtable held today, Aug. 27, of the Data Accountability & Transparency Alliance (DATA), a group of exchanges and projects in the crypto space formed in May 2019.
DATA currently counts Binance, Bittrex, Huobi, OKEx and others as members.
During the DATA roundtable, CoinMarketCap presented three topics for the alliance’s general consideration: the use of liquidity metrics, self-reported data and a unified crypto asset ID database. A dashboard for self-reporting data will also launch on Oct. 14, 2019.
The idea of using liquidity metrics to rank exchanges arose in part due to problems with wash trading in the current volume rankings on the site, according to CMC’s presentation.
The CMC presentation also said that using liquidity as a metric may prove problematic, as it is non-numeric, constantly changing and difficult to record and report.
However, CMC underlined that if they retain the volume metric, they will need to redesign it so that it can’t be gamed easily, reflects the right reasons for better rankings and creates a level playing field.
The second point — self-reported data — was brought up as a way to incentivize transparency in the crypto space. The CMC presentation put forward the idea of receiving badges as rewards for the number of data points that an exchange reveals, referring to this as a carrot for people to fill out more information in a way similar to LinkedIn’s ranking system. Examples of data points that could lead to badges include KYC, office location and shared order books with other exchanges.
Ben O’Neill from crypto research firm Messari noted that no exchanges are currently delisting “bad projects” other than the spring 2019 delistings of BSV. He also said that the alliance needs to incentivize a future where third-parties are keeping projects honest by having real repercussions.
I have no idea what you are going on about, but you sure like to try and get in my face don’t you?
Yes of course wash trading doesn’t occur aywhere and all reported volume is real everywhere. Because ya know, all the exchanges everywhere are so regulated, they would never allow anything shady to occur on their platform, sure.
So me making a comment that CMC rankings would probably change when they make the switch to Volume that could be proven ruffled your feathers why?