What affect can Electroneum have on the retail world?

[Jeff B]

Retailers would be interested to see how much of a competitors customers they can win if Electroneum were accepted. Would you travel out of the way? Would you prefer it over a similar business for the sole reason it takes ETN?  Crypto has some serious business in retail, in particular safety.  Physical violent robberies are avoided when there is no cash in a drawer.

[Eylok]

I would be happy to pick a shop accepting ETN because it is a cool attitude, but I would come and pay with my euros.
I still don't see the point to pay with crypto when I have enough euros.

I am in crypto more for trading than real usage, except if ETN comes with a real cool stuff for video games payment but so far we don't hear much.

[petesnewusername]

I think if people have been accumulating coins on their phone for a while and see something nice they can spend it on then they will spend! It's easier than putting it on an exchange and converting it, and if they don't have the investor mentality then they won't be thinking of future price and holding. As long as it is very easy for them to transfer the money from their phone they will do it.

Question is will the retailers who receive it all dump, or hold?

[Jeff B]

That is the whole point. There are too many investor attitutudes. That also explains the crazy alt boom (and eventual crash). I remember bitcoin started its initial takeoff when it was used as a currency. Someone got physical goods for a digital currency. If the marketing target people just using it for super easy and quick and secure transactions they will not be looking to far in the long run. The cool thing is it can grow in price so retailers might want to hold.  The thing with retail is they would have to liquidate immedietely for tax reasons. However I am proposing a system that will pay the retailer in USD a said amount (Say 1000$). This is to cover in cash $1000 worth of goods purchased in ETN.  I have the wallet the ETN is deposited into.  The price in USD at time of purchase is immedietely deducted from the $1000 fund. When that fund is depleted then the account reloads with another 1000, or another amount based on customer history. Incentives for a retailer would be - Zo risk instant liquidation into USD. After 30 days and every subsequent 30 the total ETN sent to the retail wallet in 30days will be evaluated to see if there is a price increases in ETN and pay the retailer 10%. That is a bonus without ever touching a coin. They can use that bonus for USD or ETN. This gives them a chance to hold ETN with the bonuses got just by having the device to accept payments and a simple interface for customer.  Since all the goods they sell are bought and sold in USD then they don't have to worry about instant liquadation to cover employee payroll, other overhead and taxes.

[mrnewguy]

BIG YES to the answer