Your questions as to price is valid though I ask you to consider the following:
Electroneum has a market cap of 21 billion tokens divided by the 1.7 billion unbanked would equal the numeral 12.7.
Usage on a daily basis is a function of adopters say 1 billion trade per day and the velocity of the usage of the “currency” times the value which will result in a price. Not including growth, inflation, Price Earnings Rations vs growth, new deals and both white and black swan events.
While Bitcoin (Yeah I mined many Bitcoins but did not believe and spent $21K on silver coins that do nothing.)
I consider the value of Electroneum is not just the concept but the people behind it.
The partners would probably convert their ETN to fiat through an OTC desk that is setup for exactly that purpose.
Then some or a lot of that ETN will be used to fund the payment processor account that converts the Visa / MC payments to ETN for Gig jobs on gig.guru.
All without ever being on an official exchange.
And then Richard also has said that they have talked with partners about ways of recycling the ETN into the ecosystem…and what I just described is one such way it can happen. There are others, and I’m sure that Richard is way ahead of us on that front.
You guys stress out this stuff way too much, as if Richard and C. Gorman are morons or something.
I mean, he did mention a 3rd party provider with an OTC desk when answering the question about in app purches of ETN in that Quora interview. Unless I dreamt that.
So it just makes sense to me that they have been setting the foundations of that relationship up and tying it in with the Visa/MC merchant processor system they are using on the Gig.guru site. And it took time to integrate everything and make sure it was legally set up blah blah. Probably had to do some testing too or are testing it still.
I am betting Unified Signal and Algoz are both involved in the process. Maybe even Liquid too.
Algoz has an OTC desk service and is a liquidity provider, market maker. So who knows, but that’s my guess on the matter. I don’t think corporate partners are just going to dump their ETN on regular joes trader normal exchange accounts on normal exchanges. I bet ETN even has them sign something agreeing that they won’t just dump in the open market.
Morning @Plankton_ETN - we seem to have recovered the 2,000 miners we lost yesterday afternoon
I was going to buy some BTC at £6k but couldn’t get my funds out of where they were before it took off and now I feel like as soon as I buy, a big correction will happen!!
So what is the difference between the way etn is doing top ups and say dent? They’ve got loads of operators working already. I’m sure we have a usp… just trying to work that bit out
Has any one noticed with the miner, that if you click “Stop cloud mining”, the number of active miners doesn’t reduce yet when you start mining again ,it goes up by one? For instance, the number was just at 142,274 when I stopped mining and it didn’t go down BUT when I started mining again within a couple of seconds, it jumped up by one to 142,275. The recent growth in the mining number has been encouraging but I can’t help feel less than 100% confidence in the numbers.
I’m guessing it’s the free etn to buy double the data and the fact our partners will be incentivised by the 1$ referral per customer per month offer. This makes them want to promote it.
Dent is already in 50 countries or so. I don’t know what the plan is for ETN, but I don’t think now suddenly all the operators will jump ships and change everything because of 1$ incentive
Not what I was saying. I’m saying what makes our offer different. But I’d think you’d be surprised. Refer 1m customers, get 1m dollars from us and potentially 3 dollars extra from each of those million via top ups? 12-48m dollars per year? How many networks will turn that down.
I get your point completely, but as I checked on Dent website they are collaborating with more than 150 mobile operators already, therefore was thinking how hard it is to switch due to some type of contract they have and the implementation of their systems with the mobile operators. Guess it really depends how Dent operates which I am not fully aware of
I’ve been sharing about ETN on Twitter and come up against quite a backlash from some “crypto” people. I’m still fairly new to all this stuff - can anyone help me out with making sense of some of the claims they’re making about ETN? Finding it hard to say anything back when I don’t fully understand everything they’re talking about.
No I totally get that - if there is a deal there is a deal. Originally I wasn’t talking about us taking their business, more so just what makes our proposition different to theirs. They are quite different despite both involving top ups via the respective token.
