Worth Reading..!!
The argument that Electroneum’s Total Supply being 21billion vs. Bitcoin’s supply being 21million unfortunately doesn’t hold water. The naysayers says that if you compare it with XRP, XEM, IOTA etc low priced / high ciruclating supply coins, that ETN will NEVER exceed 1 cents. Well let me show you something. Yes… I actually READ the technical white paper.
You are comparing apples with bananas. Remember that Bitcoin, XRP, XEM, etc have 6 to 8 decimal places. On the otherhand, Electroneum (ETN) has only 2 decimal places.
So you ask, “How is that relevant, Queen?” Hold tight. I am getting there.
Let us compare ETN to IOTA which is in my extensive portfolio. IOTA has a Market Capitalization of $1.2B and a Circulating Supply of 2,779,530,283 which is 2.8B IOTAs. But since IOTA is acutally in Millions, the circulating supply is… Have a Seat … Hold on….
IOTA is actually MIOTA as in Million IOTA. Follow me on this.
The Circulating suply is actually 2.7 QUINTILLION (15 zeros) with a coin price of $0.42 and actually peaked at $1.10!
People forget that each IOTA is 1 MILLION IOTAs, that why you see “(MIOTA)”.
So the argument that a huge circulating supply or total supply makes a coin useless or its price is forever doomed to be 1 cents or less, is quite frankly a lot of bunk! Can ETN be doomed to 1 cents forever? Why of course .. it can or it may not. None of us can predict the future.
Right now, ETN’s Circulating Supply is 4.5 Billion which is far less than IOTA’s. Stay with me here.
IOTA was developed to enable fee-less microtransactions for the Internet of Things (IoT). It was listed on Bitfinex quitely with not many people aware of its existence, it’s wallet is a nerdy wallet, there are no products ready yet, their blockhain (TANGLE) is cutting edge but unproven, no products will be released until 2020, no marketing campaigns exist and they are definitely not in the MASS ADOPTION business.
But guess what?
With 2.7 QUINTILLION IOTA coins they still have a price of $0.42 today. Where’s the logic in that, my friends?
And Bitcoin’s 21million total supply isn’t 21million. It’s all about the decimal places and satoshis.
50 Bitcoins is actually 5,000,000,000 units. Thus the total supply of bitcoins is 2,100,000,000,000,000 !!
I said all of that to say this … ETN’s Total Supply and Circulating Supply is way less than what’s being bantered around in social media. In addition to that, again with the huge demand for ETNs still out there combined with their marketing prowess and the “MASS ADOPTION” model, we could be in for a great PROFIT ride.
Finally, as we all know, there does indeed exist the probability that the deal goes bust. But isn’t that the same should you choose to open up yet another restaurant in New York? Or an ecommerce store? Or a Wine Vineyard? or launching yet another ICO?
We take risks. We do what we can. We hope those with control will deliver on what they promise. Risk exists… Get Over It!
