Wouldnt it be kinda nice to have a LOCK ETN LIMIT spend

Say for instance you had 200k ETN, but you knew you wouldn’t be taking out no more than say 20k a week/month etc. This could be set within your ETN Control Panel. And this limit can only be changed after a week and some security checks etc…

I`m, saying this as there’s a lot of press about people getting threaded to sign all the crypto assets to the person with the gun/knife etc.

ETN is off the radar at the moment, but should we entertain more profound price point, people could be targeted etc…

Thoughts …

This is a good idea this could also help if the account was used by someone else . An extra security measure if you like.

Great topic @6af759007ad0e3e7ebc5 :+1::+1::+1::+1:

@Rach what do you think :grin:

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Yeah good idea - it would suck if someone got your pin and could take all your coins. The price will be high one day and that represents a big risk. No one walks around with huge amounts of cash in their pocket like that and we only get to have one wallet so its not like other coins you can have multiple addresses.

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Nice idea, but if you really want to secure your coins, don’t let them online, even on the official wallet. Put them on the offline paper wallet or a future hardware one.

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I don’t like limits. :slight_smile: If I want to buy something more valuable I must then first go over those security questions. Every account has its limits from KYC. And also what happens if someone is treating you? And you are not able to send him your crypto.

I would consider it good thing only if I can change it myself with 2FA or something else. Anytime I want. If I have KYC level 3.

1 Like

OR even better split your stash in different offline wallets?

ok we use offline or usb, and the said gun/knife, and boom, you LOST THE LOT !! My point is very simple, ETN is owned by 1,000,000`s all over the world, without printers or crypto usb sticks :wink: If they have them online, then a limit will limit your losses.

3 Likes

Suppose all Electroneum online wallet are KYC compliant, then etn team track the thief if etn is transferred within the online wallet.
So, limiting etn transfer outside the online wallet i.e. exchanges, offline/hardware wallet might do the job. No limit on spending & online wallet transfer.
This way we would be limiting the transfer of etn outside the Electroneum ecosystem and not spending.
This might be a good advantage of KYC in the interest of the customer.

I think that your thinking is a little off. Please don’t be offended. ETN is designed to be used to buy airtime and general purchases. In the target areas ETN will be earned and exchanged for such things, OK some may hold on to some savings. I don’t see someone earning $3 a month from the mobile miner who earns a few dollars a month holding on; rather simply just using the coins to enhance their life. In conclusion those who are in the non target areas who have amassed a good amount are more than capable off Paper walleting etc. It’s not really an issue for the intended progression of ETN. Just my thoughts though.

KYC as i have read it, has NOTHING to do with the little man.I hope im wrong, and they bring some form of insurance or safety. But i can find nothing to indicate this. If im wrong in this, please i would be most interested in any research which proves me different/wiser, Ps. ive read wiki and ask ETN staff, and nobody can point me to whos in charge of KYC or made KYC.

ETN will/has morphed and will do again, ETN is a mass adoption coin agreed. Its was for Games !!! That we have now morphed into unbanked to gain numbers. Which is awesome, we now have instant transfers ! We will morph with time, thus my original question, can we limit the spend per month. As we will only go up in value, give it year november, that’s my original date of interest. Ie. 3 Years.

I don’t have a time machine I’m afraid. I can see the project being a huge success across the target areas without the price getting massive, I also can do the maths that say otherwise. Diversification is always key in business; but will Electroneum suddenly become something else? Strings to bows and all that…I think that the current direction is solid. Much better than “hey you can spend this on games” Steem has taken care of that. One thing I know for sure is that I simply know nothing and opinions are like belly buttons. I also acknowledge you raise an interesting proposition. Let’s see if @Rach addresses it in her next update.

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