Re: [ANN][ICO] ⚡ Electroneum ⚡ Token Sale Sept 14th Mobile Mining Crypto Coin
Guys - I have a serious concern about electroneum and I hope someone will answer this.
I like the idea of marketing through an app and making it viral to bring it to the masses - I don't know how likely it'll be successful and wish the app would have been available to investors to try out because that seems to be electroneum's USP.
The reason I haven't invested in this is -
(1) I haven't seen the app
(2) If the idea is to make this viral a lot of people are going to get cheap/almost free coins and there's going to be a huge dump in the market bringing the value of investors in the ICO down.
(3) Most of the initial budget seems to be geared towards app marketing and development - hardly anything for customer acquisition (I mean 'use case' customers, not app customers) - which will give electroneum ultimately its value
If this is marketed virally and people start to dump people will start to lose faith in it. I hope I'm mistaken and there is an immediate use case solution to drive up the value which will in it's own way encourage viral marketing further since it will drive up value of the coin.
Also, is there any difference between the coin itself seems to be very similar to aeon.cash, I would be interested in knowing the differences. Aeon also markets itself as a mobile friendly cryptocurrency and it is also based on the Cryptonote algorithm.
I like the idea of marketing through an app and making it viral to bring it to the masses - I don't know how likely it'll be successful and wish the app would have been available to investors to try out because that seems to be electroneum's USP.
The reason I haven't invested in this is -
(1) I haven't seen the app
(2) If the idea is to make this viral a lot of people are going to get cheap/almost free coins and there's going to be a huge dump in the market bringing the value of investors in the ICO down.
(3) Most of the initial budget seems to be geared towards app marketing and development - hardly anything for customer acquisition (I mean 'use case' customers, not app customers) - which will give electroneum ultimately its value
If this is marketed virally and people start to dump people will start to lose faith in it. I hope I'm mistaken and there is an immediate use case solution to drive up the value which will in it's own way encourage viral marketing further since it will drive up value of the coin.
Also, is there any difference between the coin itself seems to be very similar to aeon.cash, I would be interested in knowing the differences. Aeon also markets itself as a mobile friendly cryptocurrency and it is also based on the Cryptonote algorithm.
1. The app is available
2. If millions of users seem like a dis-advantage to you, maybe you are looking at it through a short term lense? This is a serious long term project.
3. Well, #3 is simply incorrect in its assumptions. I dont follow the logic to even explain where you went wrong there.
Lets not shill other coins
Deep breaths Blackwidow
Please
Hi contraband, appreciate the straightforward replies, which is why we have anns in forums like this, so investors can reach out to devs/team and get their doubts cleared. I'll check out the app - this is the app mining game that's the focus for getting viral correct? Is it available on the istore?
Regarding point number 2 - It's not that I'm looking at it from a short term lens, I'm just deciding whether I should invest in the ICO now or buy it from an exchange later. If there is an upside to buying into the ICO I would like to know - because with the current developments it looks like I would get more value when this hits exchanges. Either way as of now I intend to contribute.
Regarding point number 3 - unless a coin possesses inherent use value - for example people buy ethers to invest in ICOs; this is a use value for ethers, and this drives the price of ethers up.
In the case of electroneum, there seems to be a lot of focus into viral marketing and mining, which means lot of coins being out there with probably only speculative value, and no inherent use value. In the white paper there are mentions of intent of targeting gaming and gambling sectors as use cases but no further details, and it seems to me it will take a long time for inherent use value to be built up.
My personal analysis is that this is a good project, with a good team, but with a long way to go so I believe I would get more value investing later on rather than the ICO, unless the devs can elaborate otherwise.
And most white papers / ico websites have comparisons of similar concepts and competitors, I was wondering if there is a differentiation between electroneum and aeon; I have no investment in aeon but it seems to be similar. I certainly hope mentioning another coin is not shilling.