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Post by jiren on Oct 24, 2017 6:47:20 GMT -6
Solid point , but remember 30$ at 0.01$ per token is 3 000 tokens a month not 300.
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Post by Pete on Oct 24, 2017 6:49:00 GMT -6
I've seen this $30 figure mentioned a few times, do we know the source of it? Because all I've seen from them officially is "we don't know how much it will be until it's active" and "maybe $2-$3 a month".
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Post by mrnewguy on Oct 24, 2017 10:40:31 GMT -6
the devs explained everything today with an official answer, about the 30$ per month. it's in the devs news post here on the forum
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Post by Pete on Oct 24, 2017 11:28:01 GMT -6
the devs explained everything today with an official answer, about the 30$ per month. it's in the devs news post here on the forum Thanks for drawing my attention to it, have read it now... even if less than 30 it looks like it could still be more than what I thought it was, so fantastic news. Something that gives people $20 a month for doing bugger all, that could go very viral, very quickly. And would do even if it was quite a bit less than that. As soon as i get it working for myself and make sure it's OK and see how much we actually get in practice on the first few days, I will be telling EVERYONE about this. I know people who are struggling to make ends meet who it will make a difference to.  |
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Post by jiren on Oct 24, 2017 14:23:12 GMT -6
Yep , looks like they are on it.
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Post by silvercaveman on Oct 24, 2017 16:14:20 GMT -6
Solid point , but remember 30$ at 0.01$ per token is 3 000 tokens a month not 300. Lol yes you're right, my brain doesn't work quite as well late at night  I remember them saying as part of their marketing strategy that they want people to earn about enough to cover their phone bill each month, which is why the $30 figure was chosen. In the poorer countries around the world, $30 per month would be a huge deal, if/when they find about this it could take off dramatically! |
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Post by Pete on Oct 24, 2017 18:40:31 GMT -6
Solid point , but remember 30$ at 0.01$ per token is 3 000 tokens a month not 300. Lol yes you're right, my brain doesn't work quite as well late at night I remember them saying as part of their marketing strategy that they want people to earn about enough to cover their phone bill each month, which is why the $30 figure was chosen. In the poorer countries around the world, $30 per month would be a huge deal, if/when they find about this it could take off dramatically! That's a nice way of selling it, get your phone to pay for itself. This might be a silly question but do people with smartphones in poorer countries may much less for their phone bill, relative to other living expenses, than we do? And do the poorer people in poorer countries even have smartphones, or just some crappy early generation mobile? Or do they acquire them, again, cheaper relative to what we pay? Presumably the team have looked at statistics of phone ownership in different places including type of phone and local cost of hardware and monthly usage. |
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Post by silvercaveman on Oct 24, 2017 21:24:48 GMT -6
Lol yes you're right, my brain doesn't work quite as well late at night I remember them saying as part of their marketing strategy that they want people to earn about enough to cover their phone bill each month, which is why the $30 figure was chosen. In the poorer countries around the world, $30 per month would be a huge deal, if/when they find about this it could take off dramatically! That's a nice way of selling it, get your phone to pay for itself. This might be a silly question but do people with smartphones in poorer countries may much less for their phone bill, relative to other living expenses, than we do? And do the poorer people in poorer countries even have smartphones, or just some crappy early generation mobile? Or do they acquire them, again, cheaper relative to what we pay? Presumably the team have looked at statistics of phone ownership in different places including type of phone and local cost of hardware and monthly usage. Those are great questions, I don't necessarily have all the answers to them. I was just thinking at the time how a lot of people are forced to live on less than a dollar a day and this could dramatically improve the living standards for them. They have stated somewhere that there are tons of people in the world who have a smartphone but no bank account. I don't know the figures but it seems like they've researched this pretty well. This could provide some income and a safer store of value for these people. Most of the world is made up of people living in poverty, this is giving people back the ability to create their own money. I know terms like this are often thrown around willy-nilly, but this could in fact be revolutionary! |
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Post by mrnewguy on Oct 24, 2017 22:08:43 GMT -6
Yes, the point is that millions live with 1 dollar a day. Imagine mining even just 6 dollar a month with a crappy smartphone. That would be life changing for them. It really is wealth redistribution in the world.
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Post by jiren on Oct 25, 2017 3:08:47 GMT -6
As I thought they will never be able to sustain anywhere near 30$ a month with millions of app users. Quote What I can say is that according to our latest calculations, IF there are 75,000 mobile miners in week 1 they are likely to get approx. 70 ETN coins per day on a fast android phone (galaxy S8) if the app is in the foreground and running 24 hours per day. That equates to around $21 over 30 days with a retail price of $0.01. electroneum.com/2017/10/24/how-much-can-i-earn-as-a-mobile-miner/Let's hope they can get some companies onboard rather quickly as their userbase increases because I don't see western people using the app for 5$ a month. It'll cost more in power bills for their cellphone to run a CPU intensive mining app all day. And their bonus leftover pool will run out in no time. |
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Post by Pete on Oct 25, 2017 3:32:18 GMT -6
Yes, the point is that millions live with 1 dollar a day. Imagine mining even just 6 dollar a month with a crappy smartphone. That would be life changing for them. It really is wealth redistribution in the world. Well, I was just wondering how they afford a smartphone if they are living on a dollar a day. |
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Post by Pete on Oct 25, 2017 3:35:34 GMT -6
As I thought they will never be able to sustain anywhere near 30$ a month with millions of app users. Quote What I can say is that according to our latest calculations, IF there are 75,000 mobile miners in week 1 they are likely to get approx. 70 ETN coins per day on a fast android phone (galaxy S8) if the app is in the foreground and running 24 hours per day. That equates to around $21 over 30 days with a retail price of $0.01. electroneum.com/2017/10/24/how-much-can-i-earn-as-a-mobile-miner/Let's hope they can get some companies onboard rather quickly as their userbase increases because I don't see western people using the app for 5$ a month. It'll cost more in power bills for their cellphone to run a CPU intensive mining app all day. And their bonus leftover pool will run out in no time. But they have said there is no power drain from running the mobile app, and they can get more by PC mining which part of the reason of the mobile app is to tell them all about. |
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Post by mrnewguy on Oct 25, 2017 6:33:59 GMT -6
Exactly, mobile mining won't cost anything. Not battery power, not CPU processing power. Just passive background process giving away ETN as an "advertising investment" for the company
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Post by Pete on Oct 25, 2017 7:14:29 GMT -6
Plus, if people can be persuaded to think in the longer term and keep those coins they have the possibility of the price increasing. So even if they make $5 a month, and do not bother with PC mining, at the end of a year they have $60. Not much, but what if the ETN price then increases 10x or 100x, they will have $600, $6000... that's worth bothering with!
Might not happen of course, and the dev team aren't allowed to make price predictions, so how can we get the message out that it's an investment, not just a coin that you can use and exchange?
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