The future worth of Electroneum
Sept 21, 2017 13:28:11 GMT -6
Snactolate, aradhya, and 1 more like this
Post by Imikocha on Sept 21, 2017 13:28:11 GMT -6
How much is Electroneum going to be worth?
Hi.
There are many people in the Telegram group talking about what the future worth of Electroneum might be. And with this thread i wanted to create a discussion about just that, instead of having many discussions over the course of one day on Telegram. It can quickly become very hard to follow and keep up with, with 500 messages each day after you've had a good nights sleep.
I would like to encourage people to use this forum here for lengthy general discussions instead of the telegram-chat as it can be intimidating to wake up to such a massive amount of chat.
Now, i am no technical expert, or day trader at all, but my thoughts on Electroneum are wide and deeply rooted in my understanding in how humans works; likewise from a logical perspective.
The value of Electroneum for the people without a bank account.
Electroneum is one of those invesments that rarely gets thrown around much, seeing that it's goal is to broaden the usage of cryptocurrency for the many people around the world, either wanting to get into crypto, for wanting to have a fast reliable way of payment.
The focus of the coin has been to target the 2 billion people that does own a smartphone, but haven't got a bank account, to store their value. Instead of buying gold as a commodity to store value with, digging it down in the backyard, or safely hiding it, the same people could buy, or actually mine their own ETN.
If the team succeeds in making the app so easy that one can easily, with a few clicks, purchase ETN from an exchange, and make the transactions fast, this could be a gold mine.
Imagine having your local 7/11 in SE Asia where i have travelled, adopting ETN. 7/11 is where most people pay their bills in the areas that i have travelled; they trust banks so little that their local convenience store is far more trusted in terms of securing their monthly bills have been paid.
Now the same convenience store has to go through the bank, to process payments made from credit cards or even from ordninary cash the customers pay with. These transaction fees can cost quite a bit in the long run, and has to be offset, by a fee taken from the users credit card, or a small increase in the prices of commodities in that same store.
ETN is the solution to that; with a great model to get adopted into the convenience store, having benefits for both the users and the store owner.
They can even mine their own coins, and get something for free from that same store, with the store owner getting paid for that item; increased revenue, for no cost for anyone at all.
If those people would rather use Electroneum than having to store cash, frightened from getting it stolen or just would prefer it over how easy it is, we have a game changer. Likewise if they wanted to convert the cash they get from working, into ETN or even get paid in ETN, that is where the value lies in addition to letting the people mine.
On the other hand the store owner would be incentivized to adopt the payment system, and heck, even mine himself. The offline wallet offers a great tool for those people without a bank account to actually have only one piece of paper they need to take care off, and hide, instead of a dynamic value-storage in the sense of, the amount of cash and gold hidden fluctuates and needs to be dug up, dug back in or taken out from hiding and hid again. This is all done by a simple QR-code.
The value of Electroneum for people in the western world
The value determines on how the Electroneum team is going to incentivize the people in the gaming and gambling world to use it. There are plenty of ways of doing that, but one of the ways they laid out caught my eyes, and a tiny stroke of genius:
Entry and exit fees.
Now, imagine that you have put 100 hours into a World of Warcraft character, that is really good, and you have actually accomplished some great things, being good at crafting new gear, collecting materials to craft those gears, and you have a good collection of mounts to ride on, and pets to battle with. These can never be obtained again, but represent an increasingly growing array of things and mounts that never is going to be available again; but sought after by the community/looked upon with envy.
It is currently not accepted to sell your characters for cash on World of Warcraft, and the things you have collected in that game is bound to your character/account. The reason for this, is that they do not want people to pay-2-win, but they are already implementing that indirectly, into so many aspects of their game.
At the moment, you can pay yourself out of the grind for Gold (the in game currency) by purchasing game-time tokens that give you either 30 days of game time OR a market-determined amount of Gold. This was put into place to reduce the inflation rate, likewise with infamous "Gold Dump Items" such as a rare mount and some battle-pets.
If you decide that the time to put into a game no longer is worth it, or isn't really fun, or you just don't have the time anymore, all the content that the devs once has created and implemented, while you have been grinding your way to those items, are gone forever. That is really a shame.
Which is what Electroneums business-proposal is going to change!
Commodity-items like mounts, (some) pets for battle and different kind of materials can be purchased for real money in the Blizzard store, likewise you can purchase gold at the moment, that lets you get boosts for gear, get materials for crafting and lets you get a good headstart into the game. You can even skip the levelling process, until the last 10 levels, which you have to level, for a crazy amount of money. This is pay-2-win decentralized!
What the company gets out of this, is again the removal of transaction fees both for the user and the company. Likewise they can gain revenue from imposing a fee taken from selling your character legally, giving much less to stress about, and selling materials and gold legally, but user to user like. Diablo has already tried to implement a real-money auction house but it failed miserably because of one single thing: it made the entire game obsolete.
Now what i am seeing as the great selling point for this coins implementation into a game like that, is the transaction speed and the removal of the fees, but it is also enabling the user base to monetize their time spend inside a game, and quickly returning when the next expansion comes; this will break up the entry barriers in the start of an expansion, when people are rushing and resources are scarse.
This could be solved by, from a business-standpoint actually sell a character, 10 levels from maximum level, with basic gear that enables you to start doing all the fun things in the game, once you hit max level. The grind to gain gear to start the fun, is the worse in game.
They have a measurement called item-levels which basically gives you an idea of how powerful a characters equipment is. I suggest there is package that lets you get started, but not powerful enough to kill the fun in the game.
This could be implemented in increments, starting from a basic max level character, then paying more for basic gear, do you want to craft gear as well then you have to pay even more; likewise getting mounts should be payable in ETN to the game company.
The idea is, that while you can sell those characters from the game company, which you basically already are doing, users can sell and buy characters as well, where you have a cap of how powerful a character can be before selling it. Simply limit the effect that item-level can have on the price, to a fixed limit with regards to item-level.
Instead sellers would have to be able to offer something else if they want to quit the game and get a good price out of it, in the interest of both the game company (playing more before selling and getting a part when it's sold), likewise the user would be incentivized to grind that extra mount or finish levelling their profession in the game so that the character is worth more. In that sense, what you are really selling, is mounts and battle-pets which is used for appearance mostly now, instead of a mean to transportation. In the other sense the battle-pets can be used to battle each other, and some take that incredibly serious, but there is so many battle-pets, getting them all is virtually impossible; and many look alike in stats and abilities.
Why would you buy a character that has levelled their profession and got cool mounts? Because mounts sell, and professions is so annoying and expensive to level, which you have to do each and every expansion.
Another point i would like to make, is that people who are grinding materials in the game, could be subject to being able to sell those materials for ETN. I will explain to you why this is a good idea. First of all, the value of materials for every single kind of thing that needs to be produced in the game, is a great measurement of the economy on the server, and in the current World of Warcraft expansion, the inflation has been immense, which requires people to get more gold and raise the prices, likewise in regards to actually getting the game time from the tokens. When i stopped it had gone from 70.000 gold to 120.000 gold for a token, and now it is beyond 200.000 gold. This perhaps doesn't mean a lot, but to take into consideration a few years ago, having 10.000 gold was a pretty big deal and having 100.000 was really good. The cap back then was 999.999 gold, which now is 99.999.999 gold, which just shows how unsure the game company is of the next expansions inflationrate.
Letting people sell reagents for ETN will let the game company reduce the inflation rate they have to introduce into the game with regards to increasing quest rewards exponentially due to the horrible regulations they have put into the game with regards to inflation.
Won't this hurt the game? There will always be people who choose to get gold to pay for the subscription, or the gold sinks in the game; or even just hoards loads of gold for their own personal gain and for increasing their item-level for themselves.
Letting reagents be sold by a ETN-auction house will increase revenue to the company as well, when you actually can take a fee that is substantial from selling things there; otherwise they take 5% of the gold when selling.
Likewise the time spend in the game would be able to be monetized and spend on other stuff from the company, in a way that Gold cannot do right now, due to it's purchase cap of 36 tokens pr. year.
And what am i supposed to do with this information?
Think about it, and tell me what you think.
This is why Electroneum has such potential! The masses can use it! And this is the reason why i have kept saying that it is a long term project that could be worth $1 in 12-24 months time.
But the investors have to be patient; this is by no means a pump and dump at all.
We can all let this grow immensely, if we put in the work. It is not going to happen unless we get a good amount of people into the project, so that Richard and the devs have something to show off to the companies interested. Every single member who is interested or joins the ICO is a stronger position for the coin itself.
Bear that in mind, and go and recruit people in a tasteful manner, by educating them about the great things in this coin, but do NOT shove your referral code down their throats.
This is two of the main reasons why i am so excited by this coin, and why i think we can go for $1 in 1 to 2 years pr. ETN.
What do you think?
Join the Electroneum ICO here: my.electroneum.com
Best regards
Mathias
Hi.
There are many people in the Telegram group talking about what the future worth of Electroneum might be. And with this thread i wanted to create a discussion about just that, instead of having many discussions over the course of one day on Telegram. It can quickly become very hard to follow and keep up with, with 500 messages each day after you've had a good nights sleep.
I would like to encourage people to use this forum here for lengthy general discussions instead of the telegram-chat as it can be intimidating to wake up to such a massive amount of chat.
Now, i am no technical expert, or day trader at all, but my thoughts on Electroneum are wide and deeply rooted in my understanding in how humans works; likewise from a logical perspective.
The value of Electroneum for the people without a bank account.
Electroneum is one of those invesments that rarely gets thrown around much, seeing that it's goal is to broaden the usage of cryptocurrency for the many people around the world, either wanting to get into crypto, for wanting to have a fast reliable way of payment.
The focus of the coin has been to target the 2 billion people that does own a smartphone, but haven't got a bank account, to store their value. Instead of buying gold as a commodity to store value with, digging it down in the backyard, or safely hiding it, the same people could buy, or actually mine their own ETN.
If the team succeeds in making the app so easy that one can easily, with a few clicks, purchase ETN from an exchange, and make the transactions fast, this could be a gold mine.
Imagine having your local 7/11 in SE Asia where i have travelled, adopting ETN. 7/11 is where most people pay their bills in the areas that i have travelled; they trust banks so little that their local convenience store is far more trusted in terms of securing their monthly bills have been paid.
Now the same convenience store has to go through the bank, to process payments made from credit cards or even from ordninary cash the customers pay with. These transaction fees can cost quite a bit in the long run, and has to be offset, by a fee taken from the users credit card, or a small increase in the prices of commodities in that same store.
ETN is the solution to that; with a great model to get adopted into the convenience store, having benefits for both the users and the store owner.
They can even mine their own coins, and get something for free from that same store, with the store owner getting paid for that item; increased revenue, for no cost for anyone at all.
If those people would rather use Electroneum than having to store cash, frightened from getting it stolen or just would prefer it over how easy it is, we have a game changer. Likewise if they wanted to convert the cash they get from working, into ETN or even get paid in ETN, that is where the value lies in addition to letting the people mine.
On the other hand the store owner would be incentivized to adopt the payment system, and heck, even mine himself. The offline wallet offers a great tool for those people without a bank account to actually have only one piece of paper they need to take care off, and hide, instead of a dynamic value-storage in the sense of, the amount of cash and gold hidden fluctuates and needs to be dug up, dug back in or taken out from hiding and hid again. This is all done by a simple QR-code.
The value of Electroneum for people in the western world
The value determines on how the Electroneum team is going to incentivize the people in the gaming and gambling world to use it. There are plenty of ways of doing that, but one of the ways they laid out caught my eyes, and a tiny stroke of genius:
Entry and exit fees.
Now, imagine that you have put 100 hours into a World of Warcraft character, that is really good, and you have actually accomplished some great things, being good at crafting new gear, collecting materials to craft those gears, and you have a good collection of mounts to ride on, and pets to battle with. These can never be obtained again, but represent an increasingly growing array of things and mounts that never is going to be available again; but sought after by the community/looked upon with envy.
It is currently not accepted to sell your characters for cash on World of Warcraft, and the things you have collected in that game is bound to your character/account. The reason for this, is that they do not want people to pay-2-win, but they are already implementing that indirectly, into so many aspects of their game.
At the moment, you can pay yourself out of the grind for Gold (the in game currency) by purchasing game-time tokens that give you either 30 days of game time OR a market-determined amount of Gold. This was put into place to reduce the inflation rate, likewise with infamous "Gold Dump Items" such as a rare mount and some battle-pets.
If you decide that the time to put into a game no longer is worth it, or isn't really fun, or you just don't have the time anymore, all the content that the devs once has created and implemented, while you have been grinding your way to those items, are gone forever. That is really a shame.
Which is what Electroneums business-proposal is going to change!
Commodity-items like mounts, (some) pets for battle and different kind of materials can be purchased for real money in the Blizzard store, likewise you can purchase gold at the moment, that lets you get boosts for gear, get materials for crafting and lets you get a good headstart into the game. You can even skip the levelling process, until the last 10 levels, which you have to level, for a crazy amount of money. This is pay-2-win decentralized!
What the company gets out of this, is again the removal of transaction fees both for the user and the company. Likewise they can gain revenue from imposing a fee taken from selling your character legally, giving much less to stress about, and selling materials and gold legally, but user to user like. Diablo has already tried to implement a real-money auction house but it failed miserably because of one single thing: it made the entire game obsolete.
Now what i am seeing as the great selling point for this coins implementation into a game like that, is the transaction speed and the removal of the fees, but it is also enabling the user base to monetize their time spend inside a game, and quickly returning when the next expansion comes; this will break up the entry barriers in the start of an expansion, when people are rushing and resources are scarse.
This could be solved by, from a business-standpoint actually sell a character, 10 levels from maximum level, with basic gear that enables you to start doing all the fun things in the game, once you hit max level. The grind to gain gear to start the fun, is the worse in game.
They have a measurement called item-levels which basically gives you an idea of how powerful a characters equipment is. I suggest there is package that lets you get started, but not powerful enough to kill the fun in the game.
This could be implemented in increments, starting from a basic max level character, then paying more for basic gear, do you want to craft gear as well then you have to pay even more; likewise getting mounts should be payable in ETN to the game company.
The idea is, that while you can sell those characters from the game company, which you basically already are doing, users can sell and buy characters as well, where you have a cap of how powerful a character can be before selling it. Simply limit the effect that item-level can have on the price, to a fixed limit with regards to item-level.
Instead sellers would have to be able to offer something else if they want to quit the game and get a good price out of it, in the interest of both the game company (playing more before selling and getting a part when it's sold), likewise the user would be incentivized to grind that extra mount or finish levelling their profession in the game so that the character is worth more. In that sense, what you are really selling, is mounts and battle-pets which is used for appearance mostly now, instead of a mean to transportation. In the other sense the battle-pets can be used to battle each other, and some take that incredibly serious, but there is so many battle-pets, getting them all is virtually impossible; and many look alike in stats and abilities.
Why would you buy a character that has levelled their profession and got cool mounts? Because mounts sell, and professions is so annoying and expensive to level, which you have to do each and every expansion.
Another point i would like to make, is that people who are grinding materials in the game, could be subject to being able to sell those materials for ETN. I will explain to you why this is a good idea. First of all, the value of materials for every single kind of thing that needs to be produced in the game, is a great measurement of the economy on the server, and in the current World of Warcraft expansion, the inflation has been immense, which requires people to get more gold and raise the prices, likewise in regards to actually getting the game time from the tokens. When i stopped it had gone from 70.000 gold to 120.000 gold for a token, and now it is beyond 200.000 gold. This perhaps doesn't mean a lot, but to take into consideration a few years ago, having 10.000 gold was a pretty big deal and having 100.000 was really good. The cap back then was 999.999 gold, which now is 99.999.999 gold, which just shows how unsure the game company is of the next expansions inflationrate.
Letting people sell reagents for ETN will let the game company reduce the inflation rate they have to introduce into the game with regards to increasing quest rewards exponentially due to the horrible regulations they have put into the game with regards to inflation.
Won't this hurt the game? There will always be people who choose to get gold to pay for the subscription, or the gold sinks in the game; or even just hoards loads of gold for their own personal gain and for increasing their item-level for themselves.
Letting reagents be sold by a ETN-auction house will increase revenue to the company as well, when you actually can take a fee that is substantial from selling things there; otherwise they take 5% of the gold when selling.
Likewise the time spend in the game would be able to be monetized and spend on other stuff from the company, in a way that Gold cannot do right now, due to it's purchase cap of 36 tokens pr. year.
And what am i supposed to do with this information?
Think about it, and tell me what you think.
This is why Electroneum has such potential! The masses can use it! And this is the reason why i have kept saying that it is a long term project that could be worth $1 in 12-24 months time.
But the investors have to be patient; this is by no means a pump and dump at all.
We can all let this grow immensely, if we put in the work. It is not going to happen unless we get a good amount of people into the project, so that Richard and the devs have something to show off to the companies interested. Every single member who is interested or joins the ICO is a stronger position for the coin itself.
Bear that in mind, and go and recruit people in a tasteful manner, by educating them about the great things in this coin, but do NOT shove your referral code down their throats.
This is two of the main reasons why i am so excited by this coin, and why i think we can go for $1 in 1 to 2 years pr. ETN.
What do you think?
Join the Electroneum ICO here: my.electroneum.com
Best regards
Mathias
Hope to see you on board!