Electroneum: Richard Ells Interview -Thoughts/Sweet September

Hey you, welcome back to the channel, guys. You know, I once heard it said, when things are good, everyone's around. When things are bad, they're nowhere to be found. So looking at them, a lot of Electroneum videos and content kind of dwindle away these days. I'm not seeing a lot of videos reporting on Electroneum. And this seems to be a common practice in the cryptocurrency space. People only kind of report on tokens when they're good, but we need to talk about them when they are not doing as well as we'd like them to do. This is the time when I think it's needed the most, and I understand a lot of people's frustrations and concerns. And, um, you know, that does need to be addressed. Um, now Richard Ailes did a video with the All About Tech channel, and I want to talk a little bit about that. It was some good points made, and I want to try to talk about some of the things, uh, that need to be really emphasized, I think, in that video. And I don't want to say a whole lot about it because They are letting out a lot more content on that, and All About Tech's a good channel. It's growing huge, and that's a, that's a great interview, and that's a much-needed interview that we need to hear from Richard Ayers and what's going on. But I want to talk specifically about what, how I think we should look at Electroneum and maybe why a lot of these bad things are happening to it. And but why I think going forward there is going to be some reasons that Electroneum is going to do quite well outside of the Electroneum team even having to execute certain plans. And we're going to talk a little bit about that. And first, let's start off just talking a little bit about, you know, why I think we do need to deal with this price thing and why I think we should hear more talk about it and why it's doing that. You know, we deal with what's called the ICO, and in traditional investing we deal with something very similar called the IPO, or initial public offering versus initial coin offering. And what I find in both of these processes is that you usually, generally, you're gonna have someone with a project that seeks funding and participation from the community, and we trust these people with our funds and money to make these projects come to fruition. And so in that transfer and in that process, generally there's a type of fiduciary responsibility, you know, as to say, I've entrusted you with my money, that is going to be valuable for all parties, right? And so throughout that process, there needs to be a certain amount of communication, not only dealing with the advancements of the project, but also dealing with the, you know, what's happening with the money, you know, and that's just kind of how it works. And so that's why a lot of us are concerned to see price declines and various things like that. We, you know, understandably so want to know what's going on. And I think where it seems a little bit insensitive, and I don't think that this is intentional on the Electroneum team's part, I think they are focused and working hard to make this project happen. And sometimes you can just overlook things or not think about certain things that could be a type of— that can be a negative thing. And that is kind of not talking about the price. And so some people are taking this like they're misunderstanding it, and they're taking it as to mean the Electroneum team doesn't care about the price. Because as I mentioned earlier, how our brains are accustomed to think about handing our money over and fiduciary responsibility. We generally want to, you know, know what's going on with that. And I know the electronic team is outside of the market, but, you know, because there isn't a figure to— there's nobody we can really go to with this. It's just like, uh, how you would deal with a stock in real life, you know, you would— the CEO would come out and he would say, well, we've suffered this, you know, price dip, uh, to his shareholders, right? And various things like that. So psychologically, we're still kind of in that, in that form where we're looking for answers in that department. When people don't get them, they get frustrated, they make drastic calls, and they're angry, and they need to vent their that to someone. So I just want you guys to know that I am going to keep doing the videos. We're going to talk about the price, uh, because I know you guys want to hear about it. You want to hear some good news. Hopefully by the end of the video I'm going to give you some information I think will be something good outside of what the Electronian team can do, just based on certain circumstances why I think, uh, certain things will have to happen in a certain way, and we'll talk about that. But during this interview with Mr. Richard Ayles, and like I said, I can't really say a lot about it. I don't want to criticize the interview. I thought it was a pretty good starting video, but because they've divided it into several parts now, I won't really be able to say a lot until after I've watched the the entire series. What I did think was important, but I think was a missed opportunity to, to really drive it home for us and clarify some things, was understanding why this money is being given out through the ETM miner, the Electroneum mobile miner. Um, now we all got the basic gist of it, that it's like a sample to give people to start using, that it's not much money, it's going to the unbanked just to get them using the token, and we start this currency circulation, right? What they call velocity of money, which is used to create value in other places, and it circulates back to us. Because when you, when you distribute money, it also, it actually creates more value because there's more opportunity. People got funding to do projects you couldn't do before, or they have some skill or trade, now they can trade back. Because money isn't really money. Money is more so limited control of resources and a way for us to move those values and resources, right? Money doesn't create, we create money, right? We created money based on how we live and our value system. Money doesn't create anything. Right? It's just a concept that exists. Um, and so in that regard, it's kind of under— it's easy to understand how you can find value in someplace else and move it through a global economy. Now, where I feel the opportunity was missed is when the talk is about this $3 trillion market. It's very quickly how they pass over that I think that needs to be emphasized and really blown up because what that's saying, if we look at the current, the entire value of the cryptocurrency space right now, which is under $300 billion and struggling and praying for people to inject money in, why would you pray and hope for people to turn their interest back to Bitcoin and cryptocurrency and start injecting money in when you can just go out and get the money. And that's what Electroneum is doing, right, through the partnerships and agreements. They're going out there, get the $3 trillion, and bring it back, which is what we need. That needs to be stressed. The misunderstanding with the Electroneum miner that the Electroneum team isn't doing a great job at relaying is it's not a free giveaway. It's not a, it's not a, a waste of money. It's not about just sending money to developing nations that a lot of people in the West honestly don't believe have enough money to even help us or to invest back in cryptocurrency. So a lot of people don't like that because they're not able to understand how velocity of money works. They haven't studied economies. They don't know these things. They don't understand that money is created by us and that value, that we are the value. They don't understand any of that stuff because a lot of people are just speculators in the cryptocurrency space still, and they don't get that part. And so it's kind of our job or somebody's job to explain it to them. And I think we're hoping Electroneum will do that. And I know Electroneum works hard, but I don't think that it's a bad idea to maybe hire a marketing agency to help out with Electroneum, to a good public relations type situation with how Electroneum works. And I don't think those will be negative things at all. And I think that would be a good move. Now let me get into real quick why I think September might be the saving grace and why I think that Electroneum can still make it even if things go bad and the team doesn't quite get things together or some mis— unfortunate events that keep occurring. Well, September is supposed to be when a lot of major marketing is rolled out, which I think Electroneum needs more than anything at this point. And they need to go ahead and execute this plan because as soon as possible, because of copycat Electroneum, uh, coins that are coming out, or, or just the concept of everybody wants to be a mass adoption coin, so we need to quickly create a, a situation where we are in that spotlight. We got the most wallets, we got the most participants, the most coin users, um, And, and I don't think we should wait for that, as like I said, a lot of people are claiming they can be a mass adopter coin, working towards it in some way or another. And then you got all these copycats that are going to create distractions coming on the scene. Now the good thing is Electroneum in September is so close around the corner, I don't think a lot of these other projects, if they haven't done it already, I don't think they're just going to pop up overnight. And be able to significantly change things, provided Electroneum does execute the plans like they are supposed to. But even if they don't in that time frame, a lot of these projects that are coming out won't be ready for months, some up to what, first of December. So Electroneum still has time, and in that regard, I think we're still in a good situation. So don't give up, guys, yet. Don't do something too drastic yet. Because Electroneum still has a good opportunity to turn around. But I do think Electroneum needs to be mindful of dealing with the price, talking about the price. I haven't heard one video or anything from their team about concerns about the Electroneum price, right? It's almost like they're oblivious to it, like they don't care. And that's the problem, the image, what it looks like. It looks bad. So I think in that regard, they do need to address that. And make that part of their, you know, of when they relay information. Another thing I want to talk about real quick, really fast, and then I'm going to go. I want to talk about this idea a lot that Electroneum isn't ready technology-wise. Hear it a lot. Um, and, uh, you know, I've spoken before on my videos about brand effects of products, and that when it comes to tokens, community, from what I can see in the cryptocurrency space and how many people hold your tokens, that's the most important thing. So let's talk technology for a second, and I want to be real clear about this to a lot of people I, I have these conversations with about technology across the blockchain. I know a lot of people are techie, they love tech, they want to build something, they want to raise money. But let's just think about this for a second. Let's think about blockchain technology, and any person who works in blockchain technology who's a coder, who programs, will probably tell you this. And that is when you really think about the uses of blockchain tech, what are its greatest uses? Its greatest uses is consent, being a consensus model, being a good record-keeping model, meaning you can store data information on a blockchain, right, that can't be corrupted or taken down or deleted. So it's good record-keeping. And most important, monetary policy, because You can't destroy these ledgers. People are able to keep good track of, you know, your monetary policy. Money can't be— you can't inflate it, you can't create more, and this, that, and the other. And so that's good because it creates rarity, right? And we can track without having the problem of moving large tangible items in their rarity. But besides that, guys, What other uses would you all say is good for the blockchain? Because at best, many of these applications that are built on top of the blockchain are very quiet or quite inefficient. Try to build chat applications on top of blockchains, they're very slow. Nobody's going to use them, you know. A lot of technology, the blockchain is not doing anything unique in that way, as people can just go to other technology, other sites that are a lot more efficient. So the things that are best for blockchain technology is monetary policy. That's just the facts, guys. And I would debate that with anybody, and I would, you know, and I, I know I'm not super techie myself, but I have a lot of tech friends and developers I talk with in the community, and they would back me up on what I'm saying now. And that is, those are the greatest uses you uses for the blockchain technology, and I don't know if anytime soon there are going to be any other greater uses for it. So now we got that part out of the way, then besides monetary policy, what's going to be more important in the blockchain technology? And that's going to be getting these tokens in people's hands, right? Forming these partnerships like Electroneum is doing so people who are unbanked can now be banked. That's all part of monetary policy. And, uh, when people start to understand that, when that information and message is relayed properly and correctly, I think people will start to come around and say, okay, I now finally do get what Electroneum is doing. You know, maybe these other tokens are kind of spinning their wheels because, um, you know, they, they're not really, uh, going after those markets, that $3 trillion market, or they're not doing a good job at how to do it. They don't have a good setup or layout how to do it. Electroneum does, but Electroneum's marketing— the craziest thing I'm going to say in this entire video for a lot of people is that I think that their marketing is weak. I really do. I think it's a good story. I think it's a great project. I think their marketing sucks. I think the videos that they're releasing, they hardly get any views. Although we have this 2 million, 2 million person community, YouTubers' videos do way better than what's being released by the Electroneum team, and that's very telling. And so, you know, guys marketing with no resources, and that's, that's, that's a problem. And that's why I think Electroneum needs to focus on marketing. We've talked about the technology, its limitations. We need a good participating, good community at this point. And yeah, I know a lot, a lot of you say, oh, it's great, we got 2 million people. No, that's not great. We need 100 million people. You know, we need to go to 20 million people, 100 million people, half a billion people, right? And so that's where I think our focus should be, and that's what I think the problem is. But guys, and that's all I want to say about the video. Hang in there. I look forward to your questions, comments, and concerns. Now, still open to talking about this. I'm not going to go away and come back when the price of Electroneum comes up and start talking about it, right? This is when these videos are needed, and this is now when we're going to talk about them. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.