Friends.. On December 27 I wrote:
Actually the dev is alive - at least I hope so since there was some activity on his Facebook account lately
If you never heard of LINE, it's an app like WhatsApp or WeChat made in Japan and currently is the most popular chat/messaging app in Thailand. There is a small rumor that at least in Thailand and other parts of southeast Asia they may incorporate BitAsean into the app. If that happens BitAsean will set a new all time high many times its previous one this past summer. Developer just needs to keep developing. Android wallet is done I think? iPhone should be next. Patience will pay off in 2018 but considering the small supply this low price won't last too long.
I remember when Ripple (XRP) was $0.03 and there are many more XRP than BAS.
Keep Calm and HODL on.
Well it looks like Bloomberg and Yahoo Finance two days ago published this story about LINE looking to incorporate a crypocurrency.
https://www.bloomberg.com/news/articles/2018-01-09/line-is-said-to-explore-cryptocurrencies-for-payment-serviceshttps://finance.yahoo.com/news/chat-app-line-reportedly-considering-053246889.htmlWhile the article doesn't mention BitAsean (BAS) by name it does mention something from the rumor I heard from a confidential source back in December (see bolded part at the end):
Bloomberg reported that Line is in discussions with a number of potential partners, including bitcoin exchange Upbit, over possible tie-ins around Line Pay and other products. The goal, the report claimed, is to make its products stickier with users.
Line did not respond to a request for comment.
Lack of engagement is certainly an issue Line has encountered since it went public via a dual Japan-U.S. listing that raised $1.1 billion in 2016.
Line claimed 218 million in July 2016 -- just before the listing -- but that had dropped in 203 million by October 2017. The company also lost users from its four core markets -- Japan, Thailand, Taiwan and Indonesia -- for the first time last year. Those countries account for two-thirds of its users, making it a very big problem.
Line's share price got a 10 percent bump in Japan yesterday, but ultimately it remains to be seen whether, and indeed how, it will utilize the blockchain.
There are already some examples. Kin, a Canada-based messenger that claims 15 million monthly users, held a $100 million ICO last September aimed at developing an ecosystem that rewards users, content makers and advertisers based on 'attention.' Telegram, which has emerged as a key platform for the crypto industry, is also planning an ICO which TechCrunch understands could surpass $1 billion.
"Line wouldn't necessarily have to conduct an ICO -- the regulations are still hazy for public entities -- but it could implement attention-based tokens or the blockchain to reward users for using the messenger, making payments via Line Pay or playing its games."
Which fits this line from the Introduction section of
the BitAsean whitepaper."This has many uses which will resonate within the ASEAN region and we have tailored our digital
currency to be useful both as a means of exchange and remittance, as well as for potential uses in mobile
apps and mobile gaming or a points system similar to loyalty cards for merchants." (emphasis added)
Also if you read the BitAsean whitepaper one of the selling points in it is that they specifically chose NOT to do an ICO to remain compliant with regulations in Asia.
"Additionally, by resisting the currently popular practice of distributing coins through an Initial
Coin Offering (ICO), BitAsean is compliant with US SEC guidance on ICOs. Instead of an ICO our
approach is to get BAS into as many hands as possible, near term, in real world commerce through
distribution methods which will incentivize business and consumer end users, thus building a network
effect and token value through actual usage."So to put two and two together.
1. Mid December - I heard a rumor through a confidential source that Line was looking at possibly incorporating BitAsean, a Thailand based cryptocurrency for a mobile app which is huge in Thailand.
2. December 27 - I posted that rumor
earlier in this thread here.3. January 4 - A daily financial site begins tracking BitAsean. Which I pointed out
earlier in this thread here.4. January 4 - Developer tells me they're interested in beggining the process of joining the Enterprise Ethereum Alliance. A logical step that would make sense if BitAsean were going to be considered by a big company for integration in their widely used app.
I mentioned that earlier in this thread here.5. January 4 - Developer publicly
confirms that BitAsean will begin the process of applying to join the Enterprise Ethereum Alliance.6. January 9 - two days ago, Bloomberg, Yahoo Finance and Tech Crunch reported the story quoted above which essentially backs up the rumor I was told in Mid December that rather than create their own ICO they could acquire another cryptocurrency that is legally suitable for use in the region.
If Line really is looking to incorporate BitAsean (BAS) into their app in some way then that would explain why 25 million of the 30 million total BAS are locked away. And logically the 5 million BAS in circulation would go up in value greatly, even before the token is integrated. The good news if all this is true is that crypto integration in app development would probably take about a year (given KIN's schedule for example) so there should be plenty of time to accumulate more BAS but like someone said earlier, "the bargain basement price is now gone". I wouldn't be shocked if BAS went to $1 just based on speculation alone once this is more widely known.
So just as I've been saying all along, 2018-19 may be a very good year to us BAS hodlers.
