What is the incentive for people to spend their ETN instead of holding?


#1

‘Whats in it for me’? Is the general attitude most people have if you ask them to do something.

So the question I have is - what incentive will people have to use their ETN instead of holding it for years or cashing out for fiat?

I myself have thought about buying something for ETN a number of times, but everytime I think about it, I remember the story of the person who bought 2 pizzas for 10k bitcoin…


#2

Very good question. Maybe exclusive products, offers or discounts. What can ETN offer to people so that they find it attractive to use it as their usual method of payment, without inporting their value with respect to FIAT currency?


#3

I’m not spending one etn until I can buy a house with it. Or a car etc. In other words it needs to be over the £2 mark for me to even consider selling …


#4

And heres the dilemma. If no one uses their etn, then it may never reach that £2 mark as the use case for etn will have evaporated…


#5

Yeah but if people hodl supply and demand should kick in


#6

Mobile operators will offer discounts, that’s incentive for us ‘banked’, but ‘unbanked’ will have much bigger icentive…also through the gig economy website those in developed countries could get a job done cheaper… and you don’t have to spend ETN that you already have, you can exchange fiat to ETN and then buy what you want :slight_smile:


#7

For us right now, nothing as we are all holding it as an investment. When the mobile operators come in and offer their tens to hundreds of millions of clients incentives to use ETN for services it will increase the price naturally. The unbanked won’t see it as an investment, they will use it as a service that they desperately need…and there are many more of them than there are of us.


#8

using ETN is easier and quicker than many other types of payments. It’s convenience and widespread adoption will make people use it.

We are investors here right at the beginning. There are millions of people who will not have this dilema.


#9

Some have already made some good points but I sometimes think this also but its important to remember for most of us early bunch ETN is mostly an investment, If I can spend it in the future in the UK Im sure I will.

However the incentive for people to spend is going to be people in poorer countries or places were there currency is failing or not doing well so they will have a simple incentive which is it will be the best option they will have to pay. For those of us lucky ones living in the modern world or places were we have banking systems and easy ways to spend, incentives for us to spend I don’t think are as important right now but of course we are a piece of the puzzle too.

I don’t see ETN taking off very quickly in places like the US and the UK but I could be wrong…


#10

When my local Lexus dealership starts excepting ETN as payment I will spend the lot on a top of the range RC-F.


#11

As long as the mobile operators provide some kind of discount for paying with ETN that is greater than the potential benefit of holding the coin then yes I agree.

It’ll be interesting to see how the unbanked view ETN - as an investment while they continue using their fiat or as a genuine payment method.


#12

@Zero7
Sounds like a nice ride.
Just looked at the specs.