Electroneum NaySayers Are Missing the Point


Naysayers are truly missing the point about Electroneum

I have listened to a few videos by self-appointed Cryptocurrency experts as to why Electroneum is a Bad Deal. They talk about the Circulating Supply and the Total Supply of the Electroneum (ETN) token / coin. They compare it with XRP and other coins with High Supply and extremely low prices. They conclude that 21billion coins in the total supply is a negative parameter which will force the coin’s price to stay at or near 1 cents.

Well I am here to clear a few things and to address their ‘concerns’.

Here is just one example where a facebook colleague of mine expressed his opinion about Electroneum – ETN.

CashFX Group Learn Forex Passive Income Trading Forex
Electroneum is a Shit ICO
Electroneum is a Shit ICO

In terms of his statement about buying the coin in the ICO phase is a wrong move, I want to say that NOT buying during the ICO at LESS than 1 cents is the wrong move. We’re all about minimizing our risk and maximizing our profits, right?

So for him to say it would be better to buy on the exchange on launch day and wait for the “Dip” makes no sense to me. It will NOT dip below 1 cents on public exchange launch day!

I’d be willing to place a bet on that. The demand is high. How do I know? Well many has come to me brokering buy contracts trying to buy my Electroneums for 2-10cents right now. They are asking me to gather the masses, if you will, to sell their pre-ICO tokens. Well that looks like demand exists, right?

So if the demand is there regardless of what you think about the technology or the company, the price will rise. Don’t ask me what the price will be on launch day because if I was an Oracle, I wouldn’t be writing this article.

What I do know is that the law of economics and market forces will come into play. It ALWAYS does. Thus it won’t dip below 1cents on opening day.

Here is an example.

Look at Regalcoin (REC). That Bitconnect (BCC) copycat lending platform had an ICO at $.85-$1 a token.

An Army of folks ate it up. I KNEW the price would rise because look at Bitconnect who is 8th place by market capitalization right now at $1.6Billion … (YES! BILLIONS) is currently priced at $200. So because of the people involved in Deals like Bitconnect, I KNEW this copy cat would definitely rise in price.

So what happened?

On exchange launch day, RegalCoin (REC) hit the public cryptocurrency exchange, CoinExchange, it was a freakin frenzy. It went from $1 all the way to $27 before the exchange crashed! They put up a notice that they will be back in 24 hours. Well of course I wasn’t happy because I trade over there too.

So I stayed up watching the exchange so I can be first in line when it came back up. I quickly bought in at $5 and $7+.

Guess where it is RIGHT NOW? It is over $50 and their lending platform is having so many problems, the leaders are threatening mutiny over there in Youtube and Facebook!

The bottom line is when it comes to cryptocurrencies, no matter what you think, it is all about market forces … supply and demand. I am a trader and profit is king. But I am also one who believes in their model. I am one who see the future possibilities of Electroneum and their product offerings.

Some of you ask me “Queen, what type of technical or fundamental analysis do you use to determine which coins to purchase?” Well I have never been traditional. I use the “PorkChop Effect”. That is known as PCE. I share it with my small circle of clients and it is extremely effective and accurate. Yes we sometimes have losses but we beat the averages of many fund managers. But I digress…

I am a software engineer by profession even though I rarely practice my trade these days, I read white papers for breakfast!

IF you READ their TECHNICAL White paper, they SPECIFICALLY wrote that there isn’t really MINING. Being a technologist myself, I know if you were mining anything on your phone, it would probably blow up to smithereens because of the capabilities of a mobile phone’s CPU.

Nonetheless, their model is a “mass adoption” approach which excites me because that is sorely missing in the industry. Right now, the cryptocurrency industry is still a Nerd/Geek Fest.

I do have their app downloaded on my Android. The wallet is there and the pseudo-mining will begin on 01November. I don’t give a crap if it is REAL mining or if they are simply distributing pre-mined coins according to gaming or gambling/wagering ACTIONS performed by the Masses on their mobile phone. The bottom line is that cryptocurrency will be introduced to the masses in a non-technical, practical manner. And that, my friends, is what really matters in my opinion.

Now as my colleague mentioned, he was bothered by the fact that it appears that Electroneum was bashing Bitcoin. I looked at it differently. I am a strong advocate of Bitcoin, Cryptocurrencies and the Blockchain in general. But quite frankly with the fees and long confirmation times associated with Bitcoin transactions, it is not looking well for Bitcoin to be “THE ONE” that will contribute to MASS ADOPTION. But that’s okay. That doesn’t make Bitcoin obsolete or a bad deal. Not by far!

There are a few companies I am intimately familiar with who are tackling the “mass adoption” vacumn.

One is Bitqyck who has a Merchant Appreciation Program. So if I dine at my favorite Sushi restaurant, 50% of my bill will be go into a distribution bucket. The merchant (restaurant owner in this case) will receive 40% in Bitqys (BQs) and I will receive 60% in Bitqys (BQs)! I know many many owners who are clueless about Cryptocurrencies. But I don’t have to talk about Cryptocurrencies to them. I talk about their business. I don’t talk about technology. I talk about increasing the number of BUYERS visiting their establishment and thus increasing their bottom line. That, my friends is MASS ADOPTION!

They fluctuate between 1 cents and 6 cents on the exchange. There was no marketing hype. There was no ICO. There are tens of thousands of people who believe in the company and the potential for future profits. So many are HODLing! …Such as I am.

Another company out of Italy is Starbits. Their product model parallels with the Electroneum model. I use their mobile app often. It is quite easy. Download the app. Walk or run and your steps/movements are recorded. Your calories expended are recorded. You witness a gauge increasing that is associated with how many of their Centurion (CNT) coins you are earning.

I don’t have to talk about technology, blockchain, hard forks, or even teach them how to set up a wallet. Their marketing material says we are mining for Centurion (CNT). But I know that the mobile app is actually sending my movements/steps data back to their servers where they can distribute the CNTs to my wallet. So when my girlfriends and I go on a nice brisk walk with our mobile phones, we are not changing our habits. We are just doing what we normally do. That, my friends, is what I call “MASS ADOPTION”!

Evenutally the question will arise “Faith, how can I exchange these Centurions for Money?” LOL! Now we’re talking that old-time Fiat talk. They initiated the conversation. Then I show them how to sign up with Novaexchange, search for CNT, Access their wallet, sell their CNTs for Bitcoins and cash out. So we lead with life and we end up with a short introduction to exchanges!

I’ve gone on long enough now about the viability of the model. So what, if Electroneum (ETN) doesn’t hit $1 in a week or a month or even 2 years The expectations of the masses who bought into Electroneum’s ICO has to be managed. I tell my students about the risks involved in any investment endeavour and temper them to realistically manage their expectations.

I want to address one more thing.

The argument that Electroneum’s Total Supply being 21billion vs. Bitcoin’s supply being 21million unfortunately doesn’t hold water. The naysayers says that if you compare it with XRP, XEM, IOTA etc low priced / high ciruclating supply coins, that ETN will NEVER exceed 1 cents. Well let me show you something. Yes… I actually READ the technical white paper.

You are comparing apples with bananas. Remember that Bitcoin, XRP, XEM, etc have 6 to 8 decimal places. On the otherhand, Electroneum (ETN) has only 2 decimal places.

So you ask, “How is that relevant, Queen?” Hold tight. I am getting there.

Let us compare ETN to IOTA which is in my extensive portfolio. IOTA has a Market Capitalization of $1.2B and a Circulating Supply of 2,779,530,283 which is 2.8B IOTAs. But since IOTA is acutally in Millions, the circulating supply is… Have a Seat … Hold on….

IOTA is actually MIOTA as in Million IOTA. Follow me on this.

The Circulating suply is actually 2.7 QUINTILLION (15 zeros) with a coin price of $0.42 and actually peaked at $1.10!

People forget that each IOTA is 1 MILLION IOTAs, that why you see “(MIOTA)”.

So the argument that a huge circulating supply or total supply makes a coin useless or its price is forever doomed to be 1 cents or less, is quite frankly a lot of bunk! Can ETN be doomed to 1 cents forever? Why of course .. it can or it may not. None of us can predict the future.

Right now, ETN’s Circulating Supply is 4.5 Billion which is far less than IOTA’s. Stay with me here.

IOTA was developed to enable fee-less microtransactions for the Internet of Things (IoT). It was listed on Bitfinex quitely with not many people aware of its existence, it’s wallet is a nerdy wallet, there are no products ready yet, their blockhain (TANGLE) is cutting edge but unproven, no products will be released until 2020, no marketing campaigns exist and they are definitely not in the MASS ADOPTION business.

But guess what?

With 2.7 QUINTILLION IOTA coins they still have a price of $0.42 today. Where’s the logic in that, my friends?

And Bitcoin’s 21million total supply isn’t 21million. It’s all about the decimal places and satoshis.

50 Bitcoins is actually 5,000,000,000 units. Thus the total supply of bitcoins is 2,100,000,000,000,000 !!

Video Version of my Commentary

I said all of that to say this … ETN’s Total Supply and Circulating Supply is way less than what’s being bantered around in social media. In addition to that, again with the huge demand for ETNs still out there combined with their marketing prowess and the “MASS ADOPTION” model, we could be in for a great PROFIT ride.

Finally, as we all know, there does indeed exist the probability that the deal goes bust. But isn’t that the same should you choose to open up yet another restaurant in New York? Or an ecommerce store? Or a Wine Vineyard? or launching yet another ICO?

We take risks. We do what we can. We hope those with control will deliver on what they promise. Risk exists… Get Over It!

Faith Sloan
CryptoQueen Queen Wiki
http://facebook.com/groups/cryptocurrencyeducation FREE EDUCATION and DISCUSSIONS
http://twitter.com/faithsloan FOLLOW ME

BTC: 1AByzWJM8eETf79H9mxiL85gMwMJKsZ2yd
LTC: LVo3vat3g6E1ZPRmUQf6XyLGEgbbtiNDpg
EMB: eGaty7S71FoiVEPnfiUFzR9Eze4SgA8WCf
BQ: 0xa4718f219db508fac1c67323575113b86267dd05
ETH: 0x6b389a0e52b4662f8ed1cc22ef4831f2c7b94871