Electroneum Update - Proud Of Community/Gig Guru

Hey you, welcome back to the channel. And today I want to talk about some of the updates that we've got earlier today with the release of Richard Dale's video. But I also want to just take a moment to say how proud I am of the Electroneum community. You know, a lot of things that we see in cryptocurrency aren't as they, as they seem to be. For, for example, some of the data that comes out of Bitcoin. Bitcoin has about 4 million wallets that only have over $100 in them, right? So when we think in terms of the seriousness of the Bitcoin project and product over the last decade. Only 4 million of the wallets have over $100 in them. Um, you know, looking at these numbers, Electroneum, 2.9 million people at the door, 3 million people. That might not sound like a lot to many people. It might not sound like mass adoption. But let me tell you about some of the reality, some of the reality of Electroneum. It is more likely that the numbers that Electroneum are reporting are probably based on their product and the design of their product. It's probably a lot more accurate than what we're getting in a lot of other projects, cryptocurrencies that are subject to a lot of bots. There's a lot of bots that have data from the websites and data, um, in the usership of the product, um, that probably is not necessarily true. Uh, we are in a space where the top applications are gambling applications. You know, as to say we need any, uh, any work on gambling. You know, the reality of gambling is, uh, statistically with gambling and the gambling products, it's set up to give the house an edge. So the house is by default going to win. It's nothing to fix in gambling. You can't make gambling more fair. Through cryptocurrency because gambling is already set. Uh, most gambling products are already set with a house advantage. So, you know, the reason I'm so proud of products like Electroneum is because Electroneum for me presents an example where a community actually went, how can we actually use this product? Who's going to need to use it? Who's this going to help? And if it's going to help a certain amount of people, what has this product done and what has this management team done to make this product easier for these people that it targets to use instead of continually make a product more complicated or not going to the user experience, keeping these people in mind? Uh, so that they're gonna be able to use it and want to use it, if that makes sense, right? So the reason I'm proud of Electroneum and the reason that I, I still see the price as a short-term situation— and not financial advice, I'm not telling you all to buy Electroneum because I'm in Electroneum because I believe in its fundamentals. But what I am saying is that my belief or my philosophy is that usefulness and fundamentals will win out over price any day of the week. And that it doesn't matter what, which of these coins are being propped up and wash traded and all these things done to it. And who's propping it up? We don't know. For all we know, it could be several whales propping up a lot of these coins. Uh, right now, statistically, uh, there has been proof that even at Bitcoin, they're like— it's like one entity that can drop the price of Bitcoin 20% and manipulate Bitcoin anytime it wants. So the point I'm trying to make is In the short term, what we class and what we see and what we consider as good performing coins and good performing projects, over the next few years, that may not be the case, right? That might not necessarily be the case because that's what happens when you don't rely on fundamentals, and that's what happens when you don't analyze where the demand is and who's using products for what, when, and where. It is a great deal more likely, I believe, based on the model of Electroneum, that the numbers that they report are in fact correct, because the way Electroneum is marketed and set up, it goes to the demand of the user. But not only that, what else Electroneum is doing is it is deliberately making its products easier to use for people. Um, what came out today in the video from Richard Dales, I thought it made a lot of sense. They were talking about why the gig economy had not, uh, as of yet been released, and they were saying it was much too complicated. Uh, and because it was much too complicated, had to do an overhaul, make it— because that's the entire idea, right? To make these things user-friendly to the people you want to attract. These aren't necessarily going to be super technical people. The majority of the globe is not technical people to where you got to sync wallets and you gotta do all these crazy things, right? And nobody improves their wallet technology. Nobody wants to, you know, improve all these things that are going to attract these people and make it easier for these people to use. So what did Electroneum do? Let's go back to the drawing board. We got to make Gig Economy much easier for the simple person to use it. Usefulness over a— over an online casino. You all talk about top 10 cryptocurrencies and most of them run like online casinos because I'm not using them and many of you aren't either. And without that usefulness and the top ones that are winning gambling applications. Without that usefulness in that product, it's not going to be able to defeat, uh, what a useful project will present. And the reason I'm proud of Electronic Community, I think they see that because I see so many believers still in this project. And to a— and if you're basing it on fundamentals, that's how you should be too. Right? You should, you should be able to not flinch by smoke and mirrors. Now let me make something clear. I'm saying I'm proud of the Electroneum community's approach to how to look at projects and look for projects. Still doesn't necessarily mean that Electroneum is going to mass adopt or be some super great coin or anything like that, or even be a universal cryptocurrency. I'm not saying that. Or anything like that. What I am seeing is that in the community's response and reaction to Electroneum, it shows me that the people that are involved in Electroneum have the foresight and the ability to look at a cryptocurrency and look at the fundamentals of what it's supposed to be doing or what it says it's going to do, right? So, you know, we're talking about two Okay, I'm trying to separate two different things, especially for you people who don't like Electroneum, because I know a lot of you want to jump in and say, oh, well, they're not doing anything, or this and that. We're talking about what the project is supposed to be doing on paper and what the community is behind them on, right? That's what I mean by the fundamentals and what's supposed to be happening, right? Now, if you want to make an argument about they didn't do this, or they didn't do this when they were supposed to do this, or they did that or the other, That's up to the— that argument should be had between you and the management team, right? But on paper, fundamentally, and the information we're getting out of the Electroneum camp and how we understand things to be going, uh, this is to me how you should be looking at projects and going at the projects, if that makes sense, right? Um, And I think again, Electroneum, as far as we can ascertain and the information we're getting, is going in that direction to do that. So I'm looking forward to seeing what happens with the gig economy website because that's the one I've been waiting on a while. To me, that's the real game changer. Um, I just want to touch on to that. What came out in the video was the, uh, talking about, um, Electroneum is not a charity coin. right? And Richard Dale goes on to explain that, uh, and talk about, uh, how really what it is, is it's, uh, a method that many companies use today and have started using, is where they kind of internally fund projects, right? So how you do that is you internally fund, uh, through your, through your product, your marketing, by giving out the marketing dollars to the people. Like say for instance, if LeadTronic was paying $2 to $20 per account, right? Instead of taking that money and paying it to a marketing company or what have you, you just give it to the people, right? Just say, hey, well, this, I was going to spend X amount of dollars on an account anyway. Why don't I just give you the money? right? And, uh, you sign up, you become part of the, uh, the, uh, an account with us, right? So many big companies today use that. I know some companies that solely use it. Uh, our project BitcoinNYK.com, although it's a universal basic income project, uh, it's also coupled, a hybrid coupled as a product that is a sustainable UBI program, and it gives out our cryptocurrency to people, uh, as another form of marketing as well. So this approach is not necessarily a bad approach. In fact, it could be a very smart, intelligent approach instead of spending marketing dollars that may or may not work, right? Like I've heard people take out big ads in Times Square and the ad ends up taking, uh, costing a lot more money than they can generate back into their company. Uh, you know, it's more of a sure thing to just— your account holder is the— it gets the marketing dollars directly, right? They go out and tell their friends, and their friends tell their friends. So it's not a charity coin, uh, but you also have to understand that money, a monetary system in cryptocurrency, doesn't exactly work like a business or a normal traditional company. In currency and in money, there exists the concept of velocity of money, meaning that as the money circulates around, whether you give it out for free or whatever you do with it, it's not going to maintain the same value necessarily as you give it out. $1 may become $2 and $2 may become $4. So these are economic principles kind of beyond just looking at this in a very linear way. Through these lens of you're just giving away free money. No, there's an effect to that and money gets circulated around. It works different than a business spent giving away free money to market for people to come in and sit at their restaurant and eat some donuts or whatever the case may be. So a little bit more complex than that. And 1.7 billion people don't have access to a bank account. That's Electroneum's market. They say they're doing pretty good on the ground in South Africa testing that out. They're going to start to go to other countries, right? And based on this 1.7 billion number, apparently it's, uh, more of a market for them, right? They can get a portion of this market and somehow move forward. But what's also very important to note and what I think is going to be real big in the cryptocurrency space is wallets. Everybody's going to start developing more user-friendly wallets. And Electroneum is already out of the gate with that. They got this wallet, of course, that you can earn Electroneum, you can use it, and it's user-friendly. They're going to now connect this with the Gig Guru too, for, uh, people in the East and, and many of these nations they have targeted to market their skills to put value back in the Electroneum dollar and move it around. So the point I'm trying to make to a lot of the Electroneum community and the Electroneum haters that we get on the videos Uh, and I understand their position. I, I get it, you know, uh, as an investor in cryptocurrency, they want to see their money have a return on it, and that's understandably so. But this is what needs to happen in this space, you know. We can't keep treating it like a casino. We need products that will have a real impact on people, and for that to happen We need products that are going to be easy for most of the people to use. And, uh, you know, without correctness technology, I don't care how many whales are on these projects, how many venture capitalist firms are invested in top 10 cryptocurrencies and are blowing up the price and manipulating the prices and dropping the prices when they want. And some people make a little bit money, some people get left holding the bag. I will bet on uses for this cryptocurrency over a top 10 cryptocurrency any day because we don't know what's going to be happening with those projects over the next few years. We don't know what's going to be happening with Bitcoin. You know, it's going to be a lot of revelations that are going to happen in cryptocurrency that I don't think a lot of people are going to be ready for. And the only thing that's going to be permanent is, is this product useful to you and how can it be of use to you? And if you can step across that question, and if you're invested in the top 10 cryptocurrencies but you're not using them because the best use thing you can do on them is play a game or gamble, Then I would caution you to rethink the future of these products, right? And where they're going to end up because the mass adoption in all of these cryptocurrency hasn't been good. I've given you the stats already. In Bitcoin, only 4 million wallets with over $100, and that means it's only about 4 million real Bitcoin investors at today. Right, and we already know the stats with the other projects. They fall severely under Bitcoin. So just something to think about, uh, as we go forward into this space. Not financial information, you know, all again, this depends on the execution. A project like Electroneum depends on the execution of your management team. And, uh, the reality is I can't go down to Richard Dale's office at Electroneum and make them, uh, do the things they say or make them produce, uh, on what they say. But I can tell you this, in the analysis of a project, uh, what we can do is see what is more likely to work, what has been the data so far. And I do believe the Electroneum numbers are more real than any other cryptocurrency out there. And, uh, how user-friendly is this to technology gonna be so it can even attract the masses. You know, people don't wanna know what's under the hood. They, you know, I always tell the story about my girlfriend. She just wants to get in her car and drive it. You know, she's not looking under the hood. So cryptocurrency has to be that way as well, right? So that's all I want to say in this video, guys. If you like content like this, don't forget to like, subscribe. If you ever wanna chat with us sometime, the Education Entertainment TV channel, and the BitcoinNYK.com project we're involved in, you come over to our website, chat with us, um, on the website. But anyway, that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, take care.