Whats it going to take?

Hey I know a lot of us are down about the price, but lets talk. What do you guys think it will take for the price to get back to around 20c? Expanding into new countries is just giving away free money at the moment. A lot of people in these developing nations might not buy ETN because they can’t afford it. How do you guys think The Gig economy will increase the price? I mean if I want some work done, I pay in fiat and then the person in say Brazil completes the work and is paid in ETN. They then top up their phone bill, buy some groceries etc etc, then those vendors sell that ETN on an exchange for Fiat.

Am I missing something how will the Gig Economy add to the price. Are we relying on the demand of millions of jobs being completed on gig fair to drive the price up? or is there something else I missed?

Are we relying on partnerships to increase the value?

Currently there is low buying pressure. So the price is low.
The expectation is the gig economy will create buying pressure in excess of the selling pressure. For sure the loop you describe gig fiat to etn --> etn to phone or local services at places that accept etn --> etn back to fiat will happen to a degree. It is expected that a fair bit of the cash will stay in the local ecosystem.
Keep in mind in much of the developing world has rather unstable currency. In this case there is a good likelihood that ETN will hold it’s value better than the local currency. This leads to more locals willing to use ETN in their local barter systems.
Lastly once there are enough places to spend ETN in place in the developing world it becomes attractive for people from the developing world, but who live in the developed world, to send money back home reliably and instantly using ETN. This is why having built in KYC is such an important thing.
We are still in early days with ETN and thus are still warming the engine. The gig site, whatever it ends up being called puts ETN into first gear. Other factors like how well the gig site is received, remittances, adoption, and yes investor speculation, potentially can take it from there.

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Time continued expansion and more time

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Well the plan is to at the same time create ways to earn ETN while also creating more and more places to spend ETN without ever having to convert it into fiat.

This was never going to be a quick process, but the more places there are locally to spend ETN on goods and services the more demand it creates.

They are already commenting on the Electroneum Uganda Mart twitter page about how quick, easy and cheap it is to use for remittance to someone in another village in Uganda compared to Mobile Money’s fees.

The key is to just continue to develop use cases and get retailers, vendors, shop owners, businesses of any kind locally to accept ETN.

Someone in each area will recognize the potential for profits and begin offering fiat in/fiat out services for ETN conversion I’d bet.

o that just increases the use and demand and remittance possibilities.

Eventually some larger remittance players will see the potential and be willing to take on the risk of holding ETN while offering purchase of ETN for remittance and cashing it out on the receiver end if that’s the option the receiver chooses.

If someone is willing to do it with bitcoin and it’s slow transaction processing, high fees and volatility, then it’s a no brainer with ETN since they can get out of it lots quicker than they can with Bitcoin. I mean the Agent being able to convert their ETN to fiat if they so chose to.

See https://rebit.ph/ in the Philippines as an example of the non traditional money transfer remittance service I am talking about.

They don’t charge any fees except the fees they are charged by the remittance network they use, which is the same as remitly, world remit and dozens of others.

I believe that some local entrepreneurs in live countries will do something similar to what rebit.ph is doing, then eventually a big remittance player or more than one will incorporate ETN into their model.

Or a new player will come along and make ETN their main source of remittance and tap into all the existing send/receive locations that already exist…not run by Western Union or Money Gram.

Wich are tens of thousands, maybe hundreds of thousands all around the world.

People in Dubai, spend all day standing in line on Fridays or Saturdays just waiting to send money home via Western Union and Money Gram. Their entire off day is wasted on waiting.

Higher fees, huge loss of time.

There’s no way ETN doesn’t become a player in the money transfer game at some point…despite any worries about price fluctuations.

Fiat Currency values fluctuate too in a 24/7 forex market.

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This post was flagged by the community and is temporarily hidden.

Hi, you really took your time to tell us you sold. If you dont like project (you invested and nobody else) just sell and go with you better coin.

why worth time to fud here…

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Why the flag?
I do not agree with most of what alienlifeform had to say, but really do not understand what basis someone chose to flag this post. alf was not abusive or profane in any way. While much of what they have to say can be interpreted as FUD, it looks more like frustration to me. If this was the fomo moonboy thread i might see an argument for off topic, but in this thread it seems legit.

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I believe there will be 2.2 million gig workers sometime in the near future. if the average gig is 10k etn then it needs 22 billion etn but the max supply is 21billion etn so the price will go up latest at this time. but if future investors notice this trend then they will buy etn to hold it so the available supply will be less so the price rises sooner than when we have 2.2 million gig workers

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A gentle reminder, anyone who has constructive opinions or criticism is not only welcome, but encouraged to share them with the community.

If you feel there could be an improvement or opportunity with some part of the project, please share it, im sure the team would love to hear your ideas as it can feed into their decision making moving forward.

However, if you just wish to vent that the project is not moving at a pace you feel it should be…or wish to articulate that its not attracting enough speculation at this early stage as you would like… that’s not constructive and will be removed. No fud or venting please. :+1:

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