In this video, the host discusses Electroneum’s upcoming Gig Guru platform, a freelance marketplace similar to Fiverr where all transactions are conducted in ETN. He explains that for such an ecosystem to function, market makers and sufficient liquidity are essential to prevent extreme price volatility of the token. The speaker frames ETN as a hybrid between a traditional cryptocurrency asset and a quasi‑stable currency, arguing that a stable internal economy could give ETN advantages over conventional stablecoins. He contrasts the perspectives of speculators and long‑term investors, noting that while the platform may not favor short‑term traders, it could benefit those seeking a stable medium of exchange, especially for users of Electroneum’s mobile miner who receive regular payouts. The video concludes with a brief promotion of the BitcoinNYK faucet/contest, positioning BitcoinNYK as a more speculative, high‑volatility alternative to ETN for adventurous users.
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Hey you, welcome back to the channel, and I hope you all are having a great Sunday evening. Um, wanted to, uh, talk about Electroneum and get this video in about something I had noticed. For whatever reason, I didn't connect the dots, uh, earlier, but that was to do with the Gig Guru. So as many of you know, uh, Electroneum has been talking about this gig economy site that is supposed to be available this year. And what it reminds you of, it's a type of freelance market. It's like Fiverr. I think that's the best comparison. And when you do the transactions with GitGuru, you pay in Electroneum. And so that's kind of interesting. And these are some comparisons to similar sites, and you can see what the attraction to GitGuru Guru could be and that these other sites charge, uh, you know, uh, per transaction and they charge on the, um, on the listing. Uh, and so with Get Guru, you're gonna have essentially now, uh, all of these, uh, various, uh, uh, ETN users the ETN community able to come on here and trade their, their skills back and forth. So essentially you would have this entire economy existing within Electroneum. Now, you know, in order for that to work efficiently, it makes sense now a great deal more that you would want to have those market makers in place to keep that coin stable. Otherwise, just imagine the chaos you would have. You would have a, you know, like they show like this village on the website, for instance, maybe some people on here might be basket makers or clothing makers or whatever the case may be. But can you imagine these people basically making these goods and selling them for Electroneum and the next day it's worth like, it's dropped like 90% in value because you don't have a liquid market. You don't have a stable market. You don't have a stable currency. So if you're gonna do something like that, having a stable currency, almost like a stablecoin in a way, right? You now you can send this money back and forth for remittance as a payment. So that's very interesting to think about it that way. And as more people, start to get drawn to this, there would, in theory, hopefully kind of create this stable rise in the, in the economy and the value of the currency in Electroneum. Now, the problem with this, and this could be a big problem for some of us, is that this is a little bit different in idea than many of us have went into the cryptocurrency market, right? We've kind of went in treating it like an asset. We haven't really received the opportunity to use cryptocurrency like a money, like many of us would like. And so in that respect, this is gonna be kind of foreign to some of us, right? In order to deal with this. So the good news is if this works properly, In theory, you could have a dollar with a great demand, and at the same time, you can kind of be this money and at the same time be this asset, which would give it an advantage over a stablecoin, which would have, you know, a fixed price. And then the bondholders would start to take profits at a certain gain in the stablecoin, and thus it will remain stable at that price. Whereas Electroneum wouldn't necessarily be in that situation, yet it may have some of the components and features of what you might get with a real stable currency. So that's all very interesting to think about from an economic standpoint. Again, uh, my mind with this would be to have a price rise in Electroneum, uh, depending on how the market makers move and, and how this gets accepted and used, uh, that, uh, this could be a very drawn an hour-long process for people who are in a rush, you know, people who want to make money quick. But looking at it from the standpoint of creating this economy, creating this community, and these, these great projects, uh, I, you know, I have to, I, I have to say that these are very impressive, uh, projects. I, I like them. I like how they're moving. As a speculator, it's not though, uh, the best situation for a speculator, right? And I happen to be both speculator and both long-term investor, so it can work for me. But from the conversations I've heard throughout, uh, with a lot of Electroneum community and with a variety of people that, uh, come on, uh, it probably wouldn't be ideal for some of them. Now, even with the mobile miner, you got the stable money going in and out each month. That could be a good thing as well because now you don't have the value of that money that a lot of the people who are doing the mobile miner receiving, you don't have the value of that money dropping dramatically each month to the point they don't even know really what they're gonna be getting. With this, this becomes this kind of more stable dollar to where even in their specific marketplaces, an ETN values an Electroneum, values an Electroneum, right? ETN. So whatever they were buying for fixed amount of money in their native areas, in their nations, in their cities and villages, they'll probably be still paying the same amount and accepting the same payment in Electroneum. They would be pretty much have adopted then at that point Electroneum, a pocketbook or purse or hat, probably still be worth X amount of dollars in Electroneum, matter what. So that's all very interesting, and that's, that's, that's great. Um, but, uh, guys, that's just something to think about. I just want to add that in there. Uh, let me all know what you think about that. Um, I just want to throw this in real quick, the BitcoinNYK.com. We're still doing the project, um, over with Electroneum, doing the contest. Uh, so be sure to get over there to the faucet and get some Electroneum. Uh, BitcoinMYK, unlike Electroneum, we're still in our infancy. Uh, still a lot of growth potential. There. It's more speculative at this price. It's very volatile. And not saying buy anything because you can get the token for free, but just want to put that out there that it might create more of an element, uh, in the mindset of maybe many— some people in the community are looking at Electroneum at. If you have a more broader long-term goal, then Electroneum is definitely the coin for you. But if you're more adventurous, you're more speculative, be sure and check out the BitcoinNYK coin token while you're over there getting you some free Electroneum. But that's all I want to say in this video, guys. If you like content like this, don't forget to like, subscribe, and until next time, take care.
