I get the intent behind the coin and I can see it potentially being somewhat widespread if the app makes it easy to deal with but if there are no real world uses for the coin, how will it go up in value? Lets say millions of people download the app and use it "mine" coins. What will they then do with those coins?
They can't use them to actually pay for anything so for any real value they'd have to still open up an account and deal with an exchange which is what the coin is supposedly trying to remove, the complexity of crypto to new users. What am I missing/
The goal these guys have is to make the user experience so easy that widespread adoption occurs based on it being a smartphone app. If they garner more users than bitcoin in a relatively short period of time, the sheer size of the network will be one of the largest in the world. If they hit 5 million app downloads they will rival even bitcoin in numbers. If they can get that big, people will be using this coin for all kinds of real world liquidity. They are hoping to get big with gaming.
Bitcoin had the same problem in the beginning but as adoption increased, it is now being used almost as a currency. I have said for years that the team that creates an app based system that is easy to use will change crypto. If an app like this went viral, it could get 20-50 million users which would easily make it the most widely used cryptocurrency in the world. People won't care about exchanges at that point. They will simply be transferring he value with the app itself like it was some kind of bank account. I see teens and young people flocking to this.
I get what you guys are saying but downloads of a free app means nada if nothing comes of it. Once people realize that the coins they are getting have no real value to them unless they go through the hassle of opening up an account in an exchange and figuring out how to transfer funds (for the whole $5 they made after 3 months) which is already one of the major hurdles keeping people out of crypto they'll probably just move on. Electroneum claims to be the easy way but the road leads there anyways.
The whole widespread usage great but the app seems nothing more than a marketing ploy when they state their target group is the gaming industry. That is a relatively small segment of society, not something that will garner widespread adoption of the masses. Even if it manages to get people interested in crypto it doesn't guarantee they'd stick with Electroneum just because it was what got them interested in the first place.
The App IS a marketing ploy to gain adoption. They will download the app to get free money, which will be $5 to $8 a month, and not the $1.66 suggested.
You agree we will bring onboard users at a rate crypto has never seen, yes?
You sound like someone from out of the crypto world and these are legit concerns, dont get me wrong, but many cryptos have produced 100x gains +++ that have done much less.
You dont agree that millions of users of an App will bring IMMENSE value to a crypto. I get that for now.
Thats fine that you dont see it that way and all, but there are those that do, which will make it skyrocket in price right there.
That value added just by perception, and that happens a lot of times in cryptoland.
But then everyone eventually dumps, right? I do truly understand where you are coming from, as I used to feel the same way.
The difference is this crypto will gain a ton of users just because of the initial buzz. Everyone will want to get free money.
What I would point out here is that on top of that viral effect, marketing Apps in mainstream markets comes down to cost per acquisition, the advertising cost paid per download. It is way way way less than a dollar.
These guys have already paid their own money to design everything ahead of time.
They have first mover advantage as the first crypto mined successfully and safely on a cellphone.
They are in the top on their field (marketing) and they know how to get downloads.
They have already raised 3 million and will end up with 10-15 million.
But you dont argue that, they are gonna get millions of downloads, what you seem to question is what effect that will have on the markets.
They will easily pass Bitcoin in total users, which has never been done. This will generate a ton of press, which will only move the growing snowball down the hill faster.
Will the news that Electroneum passed Bitcoin in amount of users cause ETN to pass Bitcoin in marketcap? No. That will not be enough.
What it will do is reach $1 or so a coin and be worth 10-15% of the marketcap Bitcoin has now.
Why?
Because a network with millions of people has value. The news of having the most crypto users has value. Investors will see it as the next big thing and buyers will flock to the markets.
This will only get it more attention, and the snowball continues to pick up speed and only increase in size.
Bitcoin has 3 million users. ETN will have more. It wont cost $4000 a piece, but those that got in for a penny or less will make absolutely insane ROI that lands ETN on the Top Ten highest ROIs from a tokensale in crypto history.
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