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The current Electroneum (ETN) price is irrelevant, here’s why

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Electroneum’s ETN coin is currently priced at less than a cent. That’s right, $0.09859 at the press time. And we couldn’t care less. No, really! You should like this project. When the token’s price goes up we like the news, but when it goes down we’re really not bothered at all. Why? Because price does not equate value.

If you read a lot of crypto news, then you’ve come across the term “technical analysis” which is a set of statistical tools that focus on an asset’s price to calculate predictions about future price behavior at different time horizons. That is all about price. But even the greedy financial world understands that value is a different thing.

There is yet another branch of market forecasting called “fundamental analysis” in which price is irrelevant, and you go for value. In this context, the job is to find valuable things that are underpriced, buy them, and let the market correct itself. This is one of the ways in which Warren Buffet became one of the richest men in the world.

A famous example of this dichotomy was the situation in which Apple found itself a couple of decades ago. It was about to go down, and its stock price was plummeting. Apple was pretty close to disappear. This was caused by prices. But somebody realized that Apple had value, whatever the price was. It was Bill Gates.

Microsoft was the biggest software producer for Apple computers, and Mr. Gates realized he just couldn’t afford to let all that business go. For him, Apple had a value equivalent to, very roughly, half of Microsoft business. So what did he do? He bought a lot of Apple stock, which was a very publicized move that gave the market back the confidence it had lost on Apple’s value. Apple survived, and Bill Gates got even richer.

Electroneum is not Apple, of course. It’s a fledgling project that is not in danger of disappearing, but the situation is analogic in that ETN is seriously underpriced because the market has not understood yet how valuable it is. If you don’t know what Electroneum is or why it’s worth something, keep reading, we’ll tell you.

Electroneum came to life as a Monero fork but with a very heavy emphasis on mobility and micropayments. It aims to use its token, applications and platforms to provide financial services for everybody in the world who has a mobile phone. This has important implications.

A lot of people all over the planet own a mobile phone but have no bank account. So they have no access to the most basic financial services. The whole point in Electroneum (and in the fintech industry as a whole as well) is to serve the unbanked. It’s a huge portion of the world’s population

ETN, like any other crypto coin, can also serve as protection against a financial crisis (local or global). If your national fiat currency is under attack for whatever reason you could just put your savings in Electroneum (or XRP, or BTC, etc) and avoid the pain of seeing it lose value because of inflationary pressure.

Then there’s the mobile mining feature. This token is not mined in computers or specialized hardware, but in cell phones. All you have to do is to install an app, and that’s it. Your phone will mine for you a small amount of ETN tokens every day. This is just revolutionary. Your own simple smartphone will get you every day a free sample of money. And this is also great marketing because the ease of use and the free tokens will capture the interest of a lot of people that would otherwise pay no attention to crypto.

Another of the project’s features is the payment system. It’s quick, it’s safe, it’s almost free to use. So instead of using a remittance system such as Western Union, soon you could be using your Electroneum app to send money overseas.

Last but not least. All the aforementioned features will lead to mass adoption sooner or later. ETN will become very useful and that’s when the price will go up, as it will be driven by real economic forces instead of speculation.

So don’t disregard Electroneum just because it’s cheap. Do you remember Bitcoin’s initial price? It was $0.008. Install the app, mine a few tokens, get some free money. And, for now, don’t worry about the price.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image Courtesy of Pixabay.

Altcoins

MobileGo (MGO) – An Internet Gaming Pioneer

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Although I love trading cryptocurrencies as much as anyone, I’m far more interested in analyzing the impact that blockchain technology can have on the business landscape.  After all, blockchain’s potential was the main catalyst behind the surge in trading volume last year.  While many industries will be forever changed through blockchain applications, the gaming industry will be the focus of this article.

The first thing my parents would think of upon hearing the word “gaming” is Nintendo.  And while video games do make up a considerable percentage of gaming sales, the industry has grown far beyond that.  Several years ago, ESPN aired an episode of E:60 that went inside the world of professional video game competitions.  One team, Dota2, was on a quest for a piece of an $18.4 million tournament prize pool.  Yes, $18.4 million for people who play games.  Since then, the industry has grown beyond anyone’s wildest imagination.  And one company, MobileGo, appears to be taking full advantage of that opportunity.

MobileGo’s MGO token is an Ethereum based ERC223 token that was developed to usher in a new era in the world of internet gaming.  The company’s main goal is to turn MGO into the world’s leading currency for the more than 2.6 billion gamers that currently exist.  It is expected that mass adoption will occur as game developers continue to grow their…

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The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

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An In-depth Review of the New SuchApp Messaging App

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SuchApp has launched and with that comes the next generation of a multi-functioning messaging app which will open doors to targeted communication with individuals and groups. There is unlimited potential in business growth and advertising as well as interactive campaigns and communication with a broad audience.

Join A Group
There is a growing list of groups being developed by leaders and influencers who see the potential for targeted growth in their sectors. Retail and Commercial business owners want to be where the people are, and SuchApp has diverse functionality to reach a global marketplace. What’s more, SuchApp offers uncapped groups, meaning an you have the ability to communicate and network with an unlimited number of people in your target groups.

There are three different types of groups: private, open and secure. What differentiates between them is the ability to keep it open to the public, be invite-only, or launch secure closed groups.

One of our popular open groups is Dogs. Small businesses are beginning to promote their products or services. Large businesses can share their latest sales. The Dogs group invites dog lovers, groomers, pet supply businesses, veterinarians, dog sitters. Like-minded people can find a local dog park and hang out.

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