Thread by @HungryforFA

1) Fundamental Analysis of Electroneum ($ETN) by @HungryforFA

Qualitative Analysis:

Electroneum is a cryptocurrency built on its own blockchain , built to allow anyone (not only tech savvy) to access features such as transferring and mining right through their smartphone

2) That’s why they call themselves “the mobile cryptocurrency, designed for mass adoption”

In the developing world, mobile phones far outnumber bank accounts. This has led to an increasingly complex “mobile money” ecosystem allowing transfers among mobile phone users.

3) There are 2 billion unbanked people in the world, many of them have mobile phones. ETN estimates it's current target market 350M

Currently Electroneum has an impressive 2.16 M users. One of the widest used #cyrptocurrency already

4) To put things in perspective if ETN will have 1% of market penetration of all smartphones in 2019 it will have 25M users (projected numbers). Their focus is to expand this user number and monetization will follow. It’s aiming to be the ‘Paypal’ of microtransactions.

5) The UK based company is led by CEO Richard Ells. He is the cover on the most recent ‘Boss Magazine’ He is the founder to Retortal a small social media management company which financially in the red and has not been doing well. Some of Retortal employees work now for ETN

6) which indicates that they like to work for Ells. $Crypto regulation in UK is lagging the rest of EU. Brexit implications needs to be monitored
Below is photo of the office of Electroneum :

7) Viral growth is fueled by small amount (3 dollars) of $ETN given to people and it’s s a brilliant marketing strategy. Ells thinks that if you can pay somebody for a gig (such as social media posts, whiteboard animations, research etc.) across the world and

8) enough people are interested to get paid in ETN , then the developed countries will be interested in that as well. Developed countries can outsource labor to people who have a smartphone across the globe. ETN will launch a website called ‘gig guru’.

9) This coin can be used for online gaming as well, India and China are of particular interest and of the advisors come from the gaming industry.

10) It is minable via the its Android app. Apple has approved the IOS version of the Electroneum app but without the miner. It is currently being beta tested to 10k users. Invites for the beta have been going since last week.‘

11) 11) ‘Mining’ via mobile phone is actually a simulation that is in essence a small amount of ETN disbursed as incentive.

Electroneum is based on Cryptonight and was forked from Mondero. It’s mineable with CPU

12) Electroneum was the first ever cryptocurrency to join the GSMA as a member. The GSMA represents the interests of more than 800 mobile operators worldwide. It has signed agreements with global mobile networks

13) A patent is pending for Instant Payment System. Instant Payment System is in beta and users have been access just recently. Here is a demo:

14) Once the buyer transfers ETN to the seller, Electroneum confirms the transactions in real-time to both parties. Behind the scenes, ETN“reserves” the funds in the buyer’s wallet so that it can’t be spent again, and proceeds to send the reserved ETN to the seller’s wallet

15) Github activity is reassuring that coding for ETN is alive and well. >4.5k commits and 120 contributors. Having said that the strength of ETN is not in his code but marketing to mass adoption.

16) Competitors :

$TEL (direct distribution by telecom operators)
$MTL (instant payments with a phone number and rewards)
$NANO (P2P instant transactions, no fees)
$KIN ( payment system developed by chat app KIK)
$STORM (microtransactions for tasks and games)
$XTL (mining)

17) Quantitative analysis :

Current price: 0.00000086 $BTC or $0.0058
Market cap: 46.7M
Circ supply: 7.6 B
Max supply: 21 B
ATH price: 0.00001273 BTC, $0.24
ATL price 0.00000076 BTC $ 0.0051
ATH MC : 1.06 B

18) When Electroneum held it’s ICO on Sep’17, it quickly sold it’s $40 Million worth of tokens thus achieving its hard cap goal quickly.
The lock up period for developers is said to be 1 year but I want to confirm that with @electroneum first.

19) To put the market cap in perspective: If ETN will reach #Ripple’s MC it will grow x 270

I would not be surprised if Ells envisioned $1/ETN from the beginning. (would still x167 of today). He talks about reducing BTC’s decimals to make it more natural. Which I agree with.

20) Exchanges : @Cryptopia_NZ @QryptosX @kucoincom @coinbene among others. Like many alts it is near it's ATL.
See price chart below :

21.a) Hungry's take:

It is not easy to buy ETN. You have to buy it from an exchange like #Kucoin (not straightforward for somebody who lives in a village in India .However if enough people buy into owning and paying with ETN in the local economy than the new currency will

21.b) essentially replace their local currency. According to Ells fiat-ETN exchange through the app won’t happen anytime soon, due to complex local regulations. Ells has brilliant marketing skills however he failed to make his former company Retortal be a household name and

21.c) it’s balance sheet is less than desirable- this does not automatically mean that Electroneum will not succeed. But makes me want to watch him and his team closely. I need help to find out a reliable source to their distribution list and lock up period, input anyone?

21.d) Once a 1 billion coin this currency can become a major player in the mobile payment ecosystem and is dirt cheap with 47M valuation and its current price if 0.58 cents is essentialy half the ICO price.

21.e) ETN needs to be able to sustain their marketing and adding larger partnerships to succeed.

Start building a bag here and staggered buying might be a good approach. ETN is truly the dark horse of mobile payments and the gig economy

22) Disclosure : The author was not compensated by ETN or competitors. He owns a small bag of ETN and TEL

This FA was first published on discordapp.com/invite/VHjTrey and @CryptoBeardClub