Thinking About A Fully Established Electroneum Ecosystem

#1

Interesting thought I had today, of the day Electroneum reaches a fully developed ecosystem. :zap: So this is my thought. :thinking:

Once Electroneum has all these different sectors of the ecosystem in place (gig, Mobile deals, commerce), there will be a required amount of coins needed in the ecosystem. :infinity:

What I mean by this is, let’s take for instance the gig economy. Once established if there are let’s say 2 million users using the gig ecosystem, if each user makes 5 usd a day that requires 10 million usd a day regardless price of Electroneum in that sector of the ecosystem. :infinity:

The same goes for for mobile deals. Let’s take a partner with 1 million active users and 20 USD airtime. This means 20 million USD is needed in Electroneum regardless of price every time they need to top up their 20usd airtime. :infinity:

Also goes for commerce sites. Let’s say 100,000 stores are accepting Electroneum and make 100usd a day. That is 10 million required usd a day for that sector as well. :infinity:

With these required amount of coins in the ecosystem to process the amount of daily transactions. I feel at some point in time once established there will be a large chunk of coins that will need to be dedicated to the ecosystem. That being said it seems to me it must be inevitable that at some point in time. The sellers will have sold to the holders and the ecosystem, the ecosystem will always require new coins being pumped into it to support users/transactions thus at some point creating a constant need for possibly a substantial amount usd purchased in Electroneum no matter the price of coins usd daily off the exchanges.

There is a limited supply of 21 billion. The supply available on exchanges will be less because of what I have stated imo. I personally feel this will have a great effect on the exchanges taking these coins out of the walls and into the ecosystem while increased demand for available coins.

I’ve thought this a couple times and somewhat in depth today with myself so I thought I would share so I’m not discussing with myself :joy: and I get some feedback or constructive criticism from you great minds :+1:

What are your thoughts? :wave::zap:

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ETN Fomo Moonwalk Club
#2

Yes value propositions will replace profit for some market participants. Many of the big ETN Holders on this forum will need to sell some of their coins so others can use them :wink: lol

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#3

Like Richard has stated Electroneum is meant to be used exchanging hands around the ecosystem not held and speculated on.

20 million users will be 1050etn each for the ecosystem. It will be very interesting :thinking:

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#4

Yeah I think Richard means that’s a big part of it but he is well aware that you need large ETN holders to invest (lift price, wealth transfer, create and sponsor projects), lend (earn interest/allow others to invest in their businesses) and be entrepreneurial (build businesses and create new things) too for the ecosystem to thrive. The unbanked get opportunity to participate and their actions can result in great outcomes too!

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#5

Yes of course those are all important factors imo that will mainly happen in the first few stages. That is why I said fully established, as in the future once the users/investors/businesses are all fully functioning with the ecosystem.

You outline a great initial relationship needed to support the ecosystem, my point is, once the ecosystem is established and supported it will have to have a certain number of coins in the ecosystem to support the usd in the transactions.

Of course there are many parts to this and the ecosystem will only have a certain level of impact. I find it very interesting to think about thank you for the feedback!

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#6

:+1: You are starting to scratch the surface of how adoption will effect demand long term. Something that’s not really been seen at any scale in the cryptospace…and something that the majority of people dont really spend any time thinking about. The only small example we have seen so far… is BTC as a base pair for altcoins.

Indeed, as the number of users increase there will be a certain % of coins constantly moving around the eco system between parties. Remember, when someone wants to use some ETN to buy something, they dont care about the price per ETN as they purchase a relative amount (usually FIAT)…so it doesnt matter if $40 for something is 4000 or 40 etn.

As user numbers increase (and it has to be actual users, not speculators), and that eco system liquidity engulfs a larger and larger % of the circulating supply… it will put more and more pressure on people who hold coins to sell as demand will be outweighing supply.

Its going to be very interesting to see how it evolves.

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#7

That was very well said @BegaMutex you read what I was thinking like a book. I’m glad to hear you agree! It’s nice to see you join in :+1: I agree it will be very interesting to witness the evolution of the ecosystem. Also to see the effects of the ecosystem on % of supply once established. I was thinking this earlier and just couldn’t contain it thus this thread. Very exciting stuff I simply can’t wait to see these impacts of real use cases. Electroneum is truly stepping on new ground.

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#8

Just remember that capital is either accumulated by the state (tax) or privately by capitalists (income/assets). Electroneum has no real state (except country tax laws), only a ‘central bank’ and no income yet, so ETN is accumulated by capitalists (big investors). The majority of coins will be held by a few. They will release them when returns are realised. They need a certain amount of participants (and types) using ‘freely’ moving ETN to grow the market and price. So yes it will be interesting to create an economy with instant transfer globally. A bit of chicken and the egg stuff and you need participants that don’t care about the future price and just consume and buy. A new “middle” class. :wink:

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#9

You are completely correct imo :+1: It is part of the growing pains. As the ecosystem matures over time this will naturally happen but I agree the initial push to get users within the ecosystem will be very interesting. I have complete faith in Richard and the team to bring it through fruition. I’m thrilled to watch this ecosystem come alive :zap:

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#10

imo, we are on the track for great success.
Hodl ETN, future looking bright :sunglasses:

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#11

I agree Electroneum is setting themselves up to have a very successful ecosystem that thrives and drives them into mass adoption :zap:

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#12

When ETN got 200M users… How many banks got that?

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#13

It will be very interesting to witness the ecosystem at 200m users :thinking:

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#14

I think @BegaMutex pretty much sums up what I had to say.
You cant procrastinate on one hand because it hasnt been done before and its going to be a huge success.
Yet you cant speculate on the other hand because it hasnt been done before and its going to be a huge success
Something BIG is coming

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#15

Yep my thoughts exactly, and then some! Good job @PrestoCrypto I am now having some inwardly reflection myself on how this will all unfold!

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#16

Personal global remitance, once the on netrork instant tranfer zero fee system comes online and the remittance market starts to use ETN to send transfers across borders instantly. Think of the daily demand for ETN that will create.

The remittance companies who get involved in using ETN will have to have a large supply of ETN on hand I’d imagine. Some receivers may want to be paid out in ETN instead of being paid out in fiat. Probably more fiat payouts in the beginning, but as more use cases to spend ETN come about, that could and should shift towards more receivers just wanting to receive ETN directly.

Remittance companies may even try to influence direct send to receiver’s ETN wallet instead of a middle man payout location. Because of course those fiat payout partners need to charge fees. They aren’t there to perform charity.

So basically the Remittance agent becomes an alternative to buying ETN off an exchange and allows the sender to acquire ETN to send or sends the ETN to the wallet address for them.

I imagine we will see just about every variation of receive /send that exists and is possible with ETN from the Remittance markets. Whatever works best for the sender and receiver in each instance.

At any rate, they will all have to keep a decent supply of ETN on hand.

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#17

Exactly, it will be a snowball effect with the ecosystem growing larger and larger. Larger players demanding more and a true demand with supply going every route possible. That’s for writing this up I completely agree :+1:

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#18

My guess is the remittance market will be the buying some large bags of ETN in the near future.

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#19

I think at one point the ETN team need yo open up for more fintech companies to develop services in ETN for the next level of adoption, and i thinking about the time when government will be afraid of the ETN monopol in the market

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#20

With more of a demand of Etn in time there will be many different services offered. The potential is endless with opportunities especially with seeing the demo of iot at mwc. Many different integrations will come. Governments could benefit from ecosystem in time as well imo. Imo it will be a mass adopted worldwide digital payment method one day meaning many different uses will come. Each adding to the benefit and depth of the Electroneum ecosystem. Imo it will be a transformation over time, building with each use case. Growing organically and steadily coming to fruition.

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