That’s the whole point, this crypto is exploding minus any hype or pump. No new buyers can get in right now!
That makes no sense to me. Nothing will become mainstream if it’s nearly impossible to get. Ethos sounds like a much better project to me.
It will go mainstream via 65 million smartphone users.
I suppose it’s good if it introduces 65 million to cryptocurrency, who will then move on to buy other coins because they can’t actually use electroneum for anything.
It’s only a matter of time. We will have access to buy Electroneum shortly. Just bullish, if I am wrong, so be it.
I’m inclined to agree. The hype has died down, but the following is still super strong. It’s top 5 traded coin on cryptopia every day. Lots of volume for a coin that hasn’t had much news in a few months. I think it’s smoldering right now, ready to blow up with some good news and a few fresh exchanges.
That crypto for the people guy on youtube is…not very…
And the comment section sounds like bitconnect people after the crash hoping it will moon.
Im extremely wary of Electroneum.
Mining on your phone?
Come on…what happens when the algorithm increases difficulty?
TLDR… (But so much wow)
I sent this email update out yesterday, but Mailchimp had changed something since the last use and we only got around 40k of opened emails, instead of over 500k, so I am resending today. My apologies if you’ve had this already… The rest of this email is from yesterday’s update…
WOW! I’m sorry I’ve not had time to compose an email update until now, we have been CRAZY busy, and I’m pleased to say that everything is going extremely well.
Lets review some of the awesome stuff that has happened over the last few weeks in case you’ve missed any of it (take a look at our revamped website at http://electroneum.com for more details and a timeline).
Mobile Industry Adoption
It was always my plan to get to large numbers of users and create the first cryptocurrency with mass adoption - and mass usage. The mobile network operators have welcomed us in a way that I could only ever have dreamed of, and just a few short weeks after we started seeking some strategic partnerships in the mobile industry, we have secured signed agreements with companies that would like to promote Electroneum to over 100m users! We are now in negotiation with partnerships to take this number to over 500m users!
The mobile industry literally LOVES what Electroneum is doing because not only are we bringing a digital payment solution to the developing world, where there are many hundreds of millions of people without a bank account (don’t forget the android app is now in 20 languages!), but we are also giving the users a little Electroneum every month, with a real world value. By introducing a small amount of cryptocurrency to a large number of people we are kickstarting the real world adoption of a cryptocurrency payment solution. The mobile operators will accept ETN, so there will always be somewhere to spend it, but are confident that entrepreneurial spirit will grow up around ETN and once our PayPal™ style vendor software is finished (which will allow the easy integration of ETN acceptance) we expect to see significant adoption in both the developed and less developed nations.
As a brand new and exciting part of the mobile industry fintech, we have become the first cryptocurrency in history to be welcomed as a member of the GSMA. This is a significant development in the corporate reach and appeal of Electroneum.
Mobile World Congress Attendance
As we’d like to make a splash in the mobile world, we’ve secured an exhibition stand at Mobile World Congress in Barcelona. MWC is the largest gathering in the world for the mobile industry. I’ve been invited to participate as a panel member in one of the conferences, where I will, of course, be metaphorically shouting about the virtues of cryptocurrency. This is a HUGE event and is attended by everybody of importance in the mobile space, including all the CEO’s of of companies we are seeking strategic alliances with. I have many meetings lined up already, and remember that Dr Chris Gorman OBE (yep, he’s been honoured by the Queen of England) is on the Electroneum Board now and he has 20 years of mobile industry experience and is well known. He is spending the full week of the show in and out of meetings, ensuring Electroneum is the first cryptocurrency anyone in the mobile industry thinks of, when they seek a digital payment solution in the developing world.
Mobile Electroneum Miner - nearly live…
Our mobile miner has been tested by 10’s of thousands of community beta testers. I’d like to say a giant THANK YOU to those people who have taken their time to help us get the product ready for millions of users. I have some great news for those beta testers… The original plan was to “reset the clock” at the end of the beta testing and start all miners at zero, but we feel that anyone who has taken the time to help us should have at least a small reward, and so we will pay out the ETN that has been mined by our betas! Thank you betas! The first payout round will be AFTER the full launch of the android miner, which we are aiming to get live for the MWC event (26th Feb).
Larger Cryptocurrency Exchange Listings
HitBTC (a top 6 global exchange) has agreed to list Electroneum and again, we are aiming to have that in place before MWC if we can. We also have another top 6 global exchange in the last stages of negotiation. It would be nice if we could get that live for MWC too, but I can’t promise anything! We have a number of other exchanges outside of the top 10 that are about to list us, and it’s worth remembering that as we show our user number growing, there will be many more of the top exchanges eager to list us.
We still have a few things to sort out with our transactional system before it’s ready for huge scale but we’ve implemented loads of new code that has made things run considerably smoother.
We are working to update the system to give feedback to users around the blockchain. Most users expect things to happen instantly, when in reality the payment instruction has to go to a worker, that has to open the wallet, sync with the blockchain, accept the instruction, make the payment and then wait for confirmations. By feeding back lots more data to the end user to explain the process and where they ARE in the process, we hope to make the system far more reflective of what is actually happening in the background. It should cut our number of support tickets considerably too.
We’ve taken on some new staff who have already started and have many more serving out their notice periods. They’ll be joining the team as soon as they finish their employment elsewhere. We’ve got some AWESOME new coders and we’ve taken on a project manager from a very prestigious brand and another from a media company you’ll have all heard of. They are helping expand the team and bring corporate process and structure to everything we do.
A few stats…
I think it’s worth noting that we have over 800,000 users now, nearly doubled from the end of our ICO, not bad, but you wait for that mobile miner to be live! We will get user numbers that even surprise us!
We have over 100k+ of twitter followers and 125k+ of Facebook follows, but the most shocking number for us is that more than ONE BILLION US DOLLARS worth of Electroneum has been traded around the globe! We’ve only been live three months!
For those of you who keep an eye on the price of Electroneum you’ll notice that whilst it has taken a hit like most cryptocurrencies, it has been really interesting to watch the levels of trade.
When Electroneum was soaring in price the volume was high, $20m or $30m USD in a day was not unusual. If you take a look at the trade volumes now, you’ll see they are very low in comparison. This is a great indicator (in my opinion) of the strength of the Electroneum project. For the most part, people that are involved have not dumped, but said “Hold on. Let’s not forget that all those things that excite us about the project are nearly ready for launch. Lets wait and see if they really can be the first cryptocurrency that actually attains mass adoption, like they say they will.”.
I can truly say that we have never been closer to our goals than we are today.
I’m always overwhelmed by the support of the Electroneum community, you’ve been incredible. Some of the videos are hilarious, interesting or informative, and many of the original supporters of Electroneum are still out there now making awesome video content every day.
A quick search for “Electroneum” in YouTube.com will find you hundreds of hours of video footage about Electroneum. My sincere thanks to everyone who contributes to the success of the Electroneum project. By the way, if you’ve not met Sean Davis yet with his “Crypto for the people” channel you are missing out! … https://www.youtube.com/user/DavisBootCamp
I’d also like to thank all the supporters of the open source Electroneum project - my thanks goes out to the entire community who monitor our codebase and make contributions. All are most gratefully received.
All the very best to you,
Founder of Electroneum.
PS - If you’d like to see the first in a video series of an interview I’ve done with a financial journalist, head over to our blog (http://electroneum.com/blog/) it’s slightly embarrassing and I wave my arms around a lot, but it does get across the essence of what we are trying to achieve. There will be more of these out each week.
How is ETN Different. Vid is 1min 59sec
Be great to get an interview with Richard Ells for The Pub!
Get him to ping me and I’ll bring him on stream!
Believe me I am trying . He is a tough one to get . To say Richard Ells is enormously busy would be an understatement .
still digging this coin?
Yes, bigly. A lot of real irons in the fire with Electroneum’s approach for mass adoption (which is their MO) including some 7-billion coins set aside for “free samples” ala the mobile miner simulation. The free samples approach is one of many of ETN’s marketing angles, and a brilliant route to introduce the masses to crypto. Free samples tend to work or big companies like Costco wouldn’t be so great about handing them out every time we go there.
For mass adoption in the crypto space we need to get out of the “nerdy” blockchain headspace (don’t get me wrong, personally I am fascinated) because the mass public won’t spend the time required to educate themselves on it: simply put some crypto their hands, in their phone, in a user friendly way that makes exchanging crypto idiot proof. Electroneum will do that. That Electroneum is a strong privacy coin (viz. Monero) is another big plus for mass adoption for obvious reasons.
Like a lot of good startups with a big vision there were major hiccups getting out of the gates with Electroneum when it launched back in November. When they realized a vulnerability may exist (but had not been exploited) the Electroneum team exercised prudence and immediately hired the best — HackerOne — who then spent over a month working diligently with Electroneum to ensure there were no vulnerabilities for the rollout. Delays are annoying, sure, but I am happy and reassured by their taking such thorough measures to avoid any possible hacker threat and making the project antifragile. The Electroneum team continue to be extremely thorough.
Richard is in Barcelona now to speak at the GSMA Mobile World Congress early next week. My understanding is Electroneum are 1 of just 2 cryptos who were able to procure an invitation to this massive event, the other being DENT which is not a competitor. If you take a look at what the GSMA Mobile World Congress is, it’s quite impressive. GSMA aside, Electroneum has already inked some very impressive deals with large mobile corporations which will expose ETN to 100’s of millions of users.
We’re only but half-way into Q1 here, and I expect this to be a tremendously exciting year for Electroneum (and crypto at large). The Electroneum devs cannot touch their coins until this upcoming November, and I rather like that kind of vested interest. If you take a look at some of Richard’s interviews and media you can see he is a businessman and visionary who takes action. Execution is everything; action is the only truth. Richard is executing on his vision, and the confidence and excitement he exudes are contagious.
I would be remiss if I did not give a serious hat tip to @peter and The Pub. Were it not for this great community I would not have been aware of Electroneum’s ICO. As I’ve stated in that thread, my approach towards ETN was and remains Venture Capitalstic. I believe those who are involved in this project will continue to be rewarded (on orders of magnitude).
And full disclaimer here: None of what I post is to be construed in any way as investment advice nor recommendation(s) to buy or sell anything. I am an ICO investor in ETN, and I do currently hold it among other positions as part of a diversified portfolio.
i hold a few 63 just bought yesterday
Electroneum released this short video yesterday on their blog. Under 2 minutes. Quite good.
This afternoon Richard Ells sent out the following message. For anyone curious about ETN, his email below is well worth the read.
Subj: Electroneum Update - Mobile World Congress Exhibition
A quick update before next week - which will be a very important week for Electroneum!
We have been working extremely hard to ensure we are ready for our week at the Mobile World Congress in Barcelona!
10 of the Electroneum staff are flying out over various days, we’ve had a few pics of our humble exhibition stand come back to us (see our Facebook page).
The Electroneum stand is relatively small compared to some of the giant brands that are there, but it’s near an entrance so it should be a good spot, and the most important part is probably the networking. We thought we should get a presence there as the first cryptocurrency to be a GSMA member, who knows who we will meet and what deals we can germinate from here?! We’ve seen a HUGE interest from this sector so far.
I have a number of interviews lined up (including the BBC) and some great meetings scheduled with C level executives at companies that we are seeking strategic partnerships with.
We have some GREAT news for everyone - the (long awaited) mobile miner for Android phones will be launched this week during the Mobile World Congress. We now also HAVE a solution for iOS (iPhones) and HOPE to have that available to install this week too!! That will mean ALL Electroneum iOS users will soon be able to install the app, and even though it will be in beta (a test mode) it will allow full functionality, including allowing them to mine ETN and keep their earnings.
REALLY Exciting News…
We are also releasing some really exciting news during (or potentially just after) the show which I would LOVE to hint about here, but my lips are sealed until I get a sign-off from Dentons, the 6th or 7th largest law firm in the world. We’ve been working on something top secret with them for a couple of months that should be ready to announce this week!! Keep an eye on social media!
Our tech team are working closely with KuCoin to get that live as soon as possible (fingers crossed for this week!) and HitBTC just reconfirmed that we are still in the queue and due to be added (again, fingers crossed) during March. Cryptopia are currently experiencing some difficulties and we’ve reached out to them and will help in any way we can, if they get in touch with our team.
Don’t forget that Qryptos exchange is live and you can trade ETN there. They are an excellent up and coming exchange and we see a bright future ahead of them. They have a great team!
It has always been my opinion that once we start gaining large user numbers the larger exchanges will be more interested in us, they make their money from users trading and I think we can introduce millions of new users. Most of our partners have been waiting for the launch of the mobile miner before they promote us to their users and once that is live this week, we will start seeing some of them introduce their users to the Electroneum mining app, which in turn, should drive our user number forward. I know some people have been worried about exchange listings, but I am very confident we will be listing on more and more as the year progresses and we start achieving our goals.
We will posting updates throughout the week from the show, but it will be a very big week for Electroneum.
We just signed another two agreements, one with a company that has access to a further 30m users, who are keen to recommend our app, and one with a payment integration company to help us integrate with the mobile operators, allowing their users to purchase airtime and data with ETN. We’ll get the full details out as soon as we can after the show!
As always, I’d like to send the entire team’s heartfelt thanks to everyone in the Electroneum community who are always there to support us and make the hard work worthwhile.
Enjoy the rest of your weekend, and have a wonderful week,
All the best,
Founder of Electroneum.
PS - There’s more of me wittering on in our video interview series, carried out at the start of the year with a financial journalist, head over to our blog (http://electroneum.com/blog/). This section is about mobile mining, which is appropriate for the coming week!
Im new and I have a question if it would be ok please. You said "if it had potential to go to $2. Is there some reason mathematically or something that it could only go as high as $2? And may I ask what does i mean when people make “Decimals” comments? Like it 2 decimals Etc.
1. "Is there some reason mathematically or something that it could only go as high as $2"
If we can agree on the premise of Metcalfe’s Law (see below) which states the bigger the network of users the greater that network’s value becomes, then $2 would be thinking very, very small for Electroneum.
Here’s the rub: Electroneum’s vision and proof of concept is not yet realized. The value proposition and the price it trades at today is the risk/reward. Not too awful long ago you could buy ETH for $0.20, because it had yet to be proven.
Since both BTC and ETH are very proven cryptos, let’s use them as examples. You could do this with many other top cryptos, but let’s just do 2 simple graphical examples here:
Below you can see how Metcalfe’s Law derives price as a function of network use. IF Electroneum can prove their concept and their vision, then it is reasonable to assume the value of ETN will be proportional to the square of the number of users and transactions taking place with ETN.
2."And may I ask what does i mean when people make “Decimals” comments? Like it 2 decimals Etc."
With regard to the total supply of Electroneum, for anyone who thinks it is too high needs to consider the Team’s very intentional use of 2 decimal places:
1 Bitcoin = 100,000,000 Satoshi’s
1 Electronuem = 100 metn
So the maximum supply of Bitcoin as Satoshi would be 21 million x 100,000,000 = 2,100,000,000,000,000
Whereas ETN’s 2 decimal system gives you 21 billlion x 100 which gives you 2,100,000,000,000
So in effect theres actually less supply of units of ETN than BTC.
As for the reason they did this: It’s closer to actual money in feeling and a lot easier for the public to understand. Electroneum performed several studies to arrive at this. What they discovered is most people when they come into this space are put off by the formatting of BTC as it looks pretty intimidating to newcomers. Two decimals is already their comfort zone and makes use of ETN more natural.
Electroneum is not talking to the crypto crowd they are talking to the world.