Electroneum - Airdrop Great Idea

Welcome back to the channel. I hope you guys are having a great day. So I want to talk about Electroneum today, and I wanted to speak about why the airdrop is a great idea. Now, here and there it's come up in the threads, speaking to people about Electroneum and airdrop, it's come up that it's just where it's a system where they're giving away free money, um, and, um, it's not helping the price. It's just this free giveaway coin, and if you give away something free, people don't have to pay for it, and thus it's not valuable, and, uh, that doesn't make it a desirable cryptocurrency to hold. So we want to talk about some of the misconceptions in that and maybe show many of you all a different way of looking at who have been confused about the airdrop system that Electroneum, uh, uses and, um, help you to understand why it's probably actually a really good idea and, uh, somewhat instrumental to the success of Electroneum. So, uh, one way we're going to explain it, I'm going to kind of, uh, talk about an article of past in relation to EOS. And this article was written by someone by the name of Fabiana Sesson, I believe. And I'm going to leave a full link in the description to this article, but I just wanted to highlight some of the things she says in this article that I thought were great and made a lot of sense and really, I think, helps explain a good portion of this. But now she's in the article talking about EOS, and a lot of us know the value of EOS, what EOS has done. It's a top 10 cryptocurrency. And how some time back there had been this idea going around about universal basic income created from EOS annual inflation. And some remnants of that may exist in their latest project, which is going to be the Voice token, that at some point in time supposed to come out. To be quite honest, I wasn't very happy with the whole EOS thing. I thought it would go different, as many of you, but the concept and idea of understanding this, I think, was in the right direction. So let's read a little bit of what the author's saying about it. She goes on to say, no, universal basic income is not communism. Universal basic income is getting the customer of your currency hooked for life. It is the ultimate airdrop and the ultimate form of marketing. So I'm gonna stop right there. I don't think we really need to say much else after that, that Understanding that this is a form of marketing as well to get people involved in the cryptocurrency. Remember, this is cryptocurrency, this is not real life, so it's going to play out a little bit different than what you probably get with a real life, uh, universal basic income project or situation. She goes on here to kind of explain it why it's, uh, non-voluntary, right, when the government's doing it, and the differences when it occurs on the blockchain. And I think she really hits at some, some good points. But again, I'm going to leave that in the description. So it isn't so much that it's just giving away free money. Now we kind of have, uh, a framework of It is part of a marketing campaign. So, you know, it's been long done in business, samples and a variety of free offers. And similar to what the author said about how universal basic income could be used in cryptocurrency as a marketing tool to draw more people in, to get them hooked on your cryptocurrency, and it is now a regular use product for them day to day. It is a utilitized, uh, money for them every day. Um, now they already have access to it. They already have a wallet for it. So if it's any business being conducted electronically, it's not so much of, oh, this cryptocurrency wants to do this. So okay, what I need to do is now go out and get a wallet to start transaction doing any business. This is a warm-up, right? This is a, uh, okay, here's your wallet. Here's a little bit of Electroneum you could send back and forth. And as Richard Ayers had talked about it and explained that, that, you know, the amount of money, it was very small and, you know, it wasn't, you know, like really a significant amount of money, but the idea of getting the Electroneum brand out there and people being able to have access, right? That's the important part. That's the important word, the access. Then relates to mass adoption. 'Cause you're gonna basically have everybody with, you know, these. If you kind of think about something like the US dollar or maybe the form of currency you use in your land, pretty much everybody has access to that, right? I mean, it's probably almost zero people in your country walking around with zero dollars, not even a penny, of that currency to their name. And that is because of access, right? The adoption, the mass adoption, the access. Now cryptocurrency is pretty small right now. So the mechanism itself can work a great deal different to the point where you could pretty much deliver your cryptocurrency to, to all the users in cryptocurrency, right? You could pretty much deliver it to them and they could have access to it. And that's helping to get ever so closer to mass adoption as well. So maybe instead of thinking about the airdrop system is just free money, which is a kind of misconception of what happens in a— even though there's a small-scale economy, the principles still apply. There's a very, uh, misunderstanding of what happens to money that circulates through an economy, right? As money circulates through an economy and it changes hands, the value of that money doesn't remain the same. So, uh, in effect, even if you give somebody a small amount of money, let's say I give a person a small amount of Electroneum, um, there, um, is the possibility that they could take that Electroneum, do something with that Electroneum, create more of that Electroneum, and circulate that further throughout the economy. Now, what you're not getting is you're not getting Electroneum simply leaving the ecosystem necessarily. You're getting it circulating around and potentially creating more value. And this is what happens in an economy. Economies are complicated, right? It's not as simple as I just give you money and you spend it and it's gone from the economy. Generally what happens is it stays in the economy, you give it to somebody else, and it circulates right back into that economy. So it's, it's not as simple in, uh, in a, in a very simplified thought process as some of us think about. It could be a great deal more complex than that. Um, but, uh, overall I think the airdrop system is a good idea. Uh, now Now, in some ideas, how Richard Ells explains it in some ways is that you will have this type of, if you will, mass adoption in the East of something like Electroneum. You could possibly have many of these third world countries that really latch on to Electroneum and it builds up the Electroneum value ecosystem. And when Westerners see this and people in other lands see this, it becomes appealing to them participate as well. They begin to see the actual use case and value in that cryptocurrency, and then they conjoin with that economy, right? And then now you have a valuable cryptocurrency. So there's many ways to look at this, but just wanted to kind of put you on a different thought process, and specifically those who just kind of had difficulty understanding airdrop system or just think it's a bad idea because to them it seems like it's just giving away free money. But anyway, that's all I want to say in this video. I hope y'all are having a great day. And if you like content like this, don't forget to like and subscribe. And don't forget to try out some of our new, some of my new projects I'm working on. That is all over the channel. So check it out. It's in cryptocurrency. You may find something there you like. But that's all I want to say in this video. Don't forget to like, subscribe. And until next time, take care.