The problem with Electroneum (ETN)

Oh well

i am amazed by this well researched article …NOT (irony)

“Tron Weekly Journal”, lol…

Yaaaaaaaaaaawnnnn. Next. :sleeping:

I don’t know why this user links this $hit here.

You might imagine a person should be able to decipher between an intelligent well written article (positive or negative) and this drivel written by a poor excuse for a journalist.

Please stop linking this crap here.

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Yes. A stable coin (ish) is going to ruin us. Are there eyeroll gifs in here?

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I just saw a guy on youtube saying that when ETN reaches a dollar, the team will release more ETN to keep the price at a dollar and that the reason for the two decimal places…to replicate fiat. I’m so sick of ideas like this being floated…

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Richard did say in a previous video a long time ago that he liked the idea of keeping just 2 decimal places for ETN so it more accurately reflected fiat currencies and therefore easier to deal with than the 8 of BTC.

They cant release new coins without a fork and would need appropriate compensation to those already holding else there’d be a lot of bad feeling

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Increasing the supply when ETN hits 1 dollar would be a good thing for the Electroneum ecosystem. Of course if overall supply increases by X%, so does your amount. You would hold the exact same value in ETN but have more ETN.
VEChain increased its its overall supply about a year ago using the same methodology.

Nothing to worry about. Besides, that would mean we all hit the jackpot. We can only hope value rises to the point where supply needs to increase.

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I see your point, but if that is their intention, I think they should just come out and say it.

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Most people wouldn’t consider ETN hitting 1 dollar as hitting the jackpot. Nice yes but not the jackpot in crypto terms.

If the project gets to the point where its an issue, I’m sure they will review all options and communicate with the community.

Companies don’t tend to make statements about hypothetical future situations. Not just because there is no way of knowing whats going to happen in future which makes it futile… but also because its an incredible waste of time and resource. Something that is extremely valuable right now during these early stages.

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If indeed the point of having two decimal places is to keep ETN at 1 dollar, then a) why show the fiat value in the app, if the value is going to always be the same, b) that means they’ve known from the beginning that this was the plan, and basically lied by omission by not stating it outright. don’t you think that would be something investors would want to know?

The point of 2 decimal places is to make it easier for people to use. NOT to link to fiat amounts.

The team made it their goal to have the coin as simple to use as possible…Its far easier to say its 3.45ETN than 0.000000345 (or whatever it would be). Hence 2 decimal places and a large max supply.

As i said, if the project gets to the point where the decimal places causes an issue with micro transactions… then the team will address the problem then. If anyone has a problem with the route forward at that point, they are more than welcome to not hold ETN.

Lets stop worrying about something which may never happen and certainly does not effect decisions at this point.

I very much doubt the bitcoin community are screaming for details to be announced in case BTC ever got to 100,000,001 per coin…

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I would consider any investment that shot up 200x a massive jackpot win. To each their own.

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