Electroneum vs Phoneum: Future Of Crypto

Hey you, welcome back to the channel. And guys, today we want to talk about, uh, Electronium and now what may be competition for Electronium, and that's Phonium. So I believe that it wasn't very long ago someone asked Richard Ells how he felt about competition, and he was very welcoming to, uh, competition, but at the same time making it clear that, you know, these many of these clones that were out there, you know, weren't affiliated with Electroneum in any way. So I just want to talk a little bit about, you know, what the space is opening up, this mobile mining, you know, with your smart device. And as smart devices and mobile phones are used by such a large amount of population, more so over than computers now, what it's going to mean overall for the crypto space. So let's talk a little bit about what Phonium is and we'll compare it up to Electroneum. What's that going to mean to Electroneum? Is this going to be a real competition finally for Electroneum? So Phonium is claiming to be really the I believe the first mobile cryptocurrency miner. And they're making this claim because what they're saying is that they don't plan to use any ASIC miners at all. They're not going to use computers. They're just going to use your mobile device. Uh, and, uh, what they're saying is this is going to be a very level playing field for all miners, meaning anybody can just pick up their smart devices and start mining on this network. I believe you can use up to like 20 phones per account. So when they put it like that, that does sound very interesting because what it's doing is— one issue I've had in the cryptocurrency space has been, you know, this inequality between miners and token users. To the point where miners could kind of create these monopolies, if you will, over the network. Then it kind of went to proof-of-stake situations where now, like what you might have with EOS and Steemit type systems, where there are a certain number of miners— they might call them block producers or witnesses or whatever the names they use for them, they pretty much mean the same thing— where there's a certain a small amount of people who are controlling the entire production of the blocks, right? Uh, so this is supposed to really level the playing field where anybody with a smart device— and, um, you know, it seems that I, you know, I'm not technical enough to talk about what that means for your, your phone and what type of phones you're supposed to use, but I did look in the frequently asked questions and it seemed like you can use any type of Android or iOS device, and no matter how crappy. And, you know, they have these monitors, as I seen in the, the minor— there's some beta testing out, which looks pretty interesting. You get this kind of a pickaxe chopping away at, you know, at stone to mine. It's like this graphics interface thing, and it's interesting. And this is talking about certain ideas like proof of time and various things. But anyway, this is what supposedly is gonna run the network, and they are now in their token sale, and they're talking about all the various exchanges they're going to— they're already in talks with to launch on. So does sound very interesting. Also, you know, as I'm a great supporter of Electroneum, I think Electroneum is doing a great job. I think Electroneum has many advantages in being the first out the box, closing all these partnerships, having almost 2 million people already in a short period of time. Uh, you know, anybody starting kind of this late in the game, they're gonna have some issues with catching up, but it's not impossible for them to catch up. Now, um, you know, what happens if, uh, Electroneum gets this large amount of competition a competition like Phonium, some other people follow suit after they see what's going on. Well, my opinion is this is going to actually be a good thing. I, I would much rather see tokens like Electroneum, possibly Phonium, and whoever else comes on the scene with a good plan and a good strategy, uh, to be some of the top coins simply because they make so much sense. They're easy to use. Everybody's walking around with mobile devices in their pockets. It's more unlikely that if you're carrying this particular token, there's going to be millions of other people carrying the token. So it's going to be very convenient to trade back and forth because everybody's going to hold— millions of people are going to hold the tokens, right? And it's going to be less problems to trade, more so than Bitcoin. Coin and to learn, uh, you know, so you're going to have as many users as Bitcoin, but it's going to be easier to use and more set for mass adoption, right? So, um, you know, it won't be just Electroneum, it's probably going to be several of these guys that get it right. And, uh, I would like to see a crypto space where these coins that make a lot more sense, um, are dominating the cryptocurrency area, but not only dominating it leveling the playing field like Phonium plans to do, where we all can mine, where we all can have control over the blockchain in a more democratic manner, where, you know, as opposed to these various monopolies and oligarchies and various things like that. So I like the idea. I'm with Richard Dales when he says come on with the competition. It's good to have competition. We don't want— even if Electroneum does become this great a great juggernaut that we know it will become. It's always been dangerous throughout history, guys, to just have one big enterprise, you know, that's in control of everything to the point that this is the only place we can go. We don't want that situation either. You know, we do want a very strong, reliable Electroneum. But we want other people to kind of pick up the slack to, you know, to keep healthy competition going for innovation purposes. It will bring us better products. It will bring us better user experiences. And so that's the purpose of competition. You never want to— like many of you, I love Electroneum and I don't want to see anything stop its progress. But we don't want to fall into a situation where we're pushing one thing and one thing only. And this is— and I also don't want to fall into the hypocrisy of some of the things I've found issue with on my channel, and that is other crypto channels that are reporting that look over many coins. Why do they look over many other coins? Possibly because they're widely invested in, in other coins or a particular coin, and they don't want, you know, to endanger their investments. Well, how I'm reporting to you guys is going to be— I'm more focused on this area because it makes sense to me. Smart devices being in everybody's hands, being very easy to use, that makes sense to me. Social media, uh, uh, coins make sense to me because again it's bringing in a lot of people, introducing a lot of people to the cryptocurrency space in a format they're already familiar with, which is cryptocurrency, uh, or I'm sorry, which is social media, uh, and decentralized exchanges. I'm also pro that. These are the main 3 things I'm pro right now. Most of my videos are going to be focused on that. These other coins and various things going on, you're not going to really see me really into them much unless they have some type of social media platforms that are performing well, decentralized exchange, or they're doing something like, oh, that's more geared toward mobile devices. Because I think that's going to be key again to reaching mass audiences and mass groups. So you're going to see me focus on those things. But I'm not gonna focus on a lot of these other coins that exist that are doing pretty much the same old stuff, and because I don't think that it's gonna reach the masses, amount of people, it's gonna be as appealing to them and user-friendly to them, you know, as the particular areas that I'm focused on here. And there are many practical reasons why I feel that way. Um, so I want to report on, uh, coins that are doing things like this, not just Electroneum. I, I would feel that I'm doing the same thing these other guys are doing if I just report on Electroneum. So I want to report in areas that are going to brighten the future of cryptocurrency, that are going to get a lot of people in, in an easy way, in an efficient way. And these other tokens just aren't doing that. Uh, they raise billions of dollars, they don't, uh, understand how to hire a business consultant, they don't understand how to, uh, have, uh, good marketing people with them. Because if they did, cryptocurrency would do a great deal better. Instead, what I see— and I'm not going to name any companies or tokens or CEOs, but I see unprepared CEOs doing interviews on major, uh, uh, on major television broadcasts. Why wouldn't you just hire a good person, uh, you know, with the millions and billions of dollars at your disposal to, to create plans to hand over to people that they can easily understand have people who can communicate over news broadcasts very well and effective to audiences now reaching millions of people where you have a chance to freely reach them and you're not doing a good job at that. This is a huge problem. And so, you know, I don't want to, you know, give over to those tokens that I just don't think are getting it. And so I'm going to report on the ones equally and fairly that I think do get it and are in the right direction. Now, uh, again, Phonium, it's saying that their whole mining is going to be based on mobile devices. Uh, that is very interesting, and I think it's going to create a very fair system. People don't have to buy these gigantic computers with a lot of computing power, um, mining rigs and the like. And those who buy it are going to control most of the network and the blockchain, right? Able to produce these tokens and coins. You're going to be able to do it from your smart device with up to 20 smart devices, right? And that's very interesting. And I'm still learning more about Phonium. I just know that their token sale is happening in like 2 days. I do have a referral link if you want to, you know, get over there. Some of us want to repeat the, the, the, you know, what Electroneum did early on. It got to the 1 cent ICO price and it went up to 20 cents, which I think it's gonna do again. And that's just my opinion. You have to do your own due diligence and research, but I think it's gonna go very high again. I think it's geared toward that. As soon as Bitcoin recovers, because Bitcoin's pulling everything down. But I think it's gonna do that again. And right now it seems to be below its ICO price, right? Or maybe par with that. But this is an opportunity to repeat the past of Electroneum. Get in now. And, you know, if you're already in, there's a chance to pick up some more. Um, and, uh, I'm gonna be looking at Phonium. Phonium doesn't look like it's raising a lot of money right now, but I do like the concept of it, guys. I'm going to be honest, uh, you know, um, I would love to see several, uh, tokens like this in the top 10 of cryptocurrency. They make the more— the most sense. Um, and, uh, at this point in time, uh, I can only report that for what Phonium's doing and what the plan is. I've tested the beta, the beta miner, the, the mobile miner. The tokens are just for testing. They will burn them up, but they have these little tasks you can complete, and you can complete these tasks and earn some, you know, some of these Phonium tokens or whatever. And that's, that's pretty interesting. It's talking about the supply. Let's see, there are only— what is that, 20 $1 billion in the total. So it seems like they're copying, uh, it is a 1-cent, uh, token. They, they are very much copying Electroneum. That's kind of to be expected. They're looking at the success of Electroneum and what Electroneum has been able to accomplish. So I, I would see that they would, you know, pretty much implement, you know, similar, similar strategies to, to Electroneum. But it's interesting. And, uh, like I said, guys, I can't not competition. Uh, we have to accept competition. Uh, we have to protect ourselves and our portfolios. Uh, it's very likely I'm probably going to carry some Phonium, especially coming out the box, just to see what it does. We did have Electroneuro, right? Didn't they try to do something like Electronium? I wasn't really into Electronium and the mobile tokens at that point in time when they did all of that. I'm pretty much just really getting into it. But, uh, as I understand, they tried it, they got delisted. So could that happen to Phonium? Sure, that could happen to Phonium. It could be a similar situation to Electronero where, uh, you know, they have all these plans that sound great and they just don't work, and where Electronium is working. So I would look at this kind of like a hedge. I look at this as good competition to drive Electronium to do even greater things. And I'm very much still on board with Electroneum, and but I'm gonna give these guys a chance as well to see what happens, you know. Like I said, I'm excited to hear about all these new ideas that make a lot of sense where people can, especially about the mining from the mobile. I don't, I don't really know what that's gonna do. I think it might heat up your phones depending on what type of device you got, so you're gonna have to be careful about maybe overheating your phone. Phones if you're trying to mine from your devices. I am a smartphone farmer, so I already have like 20, 30 devices. So this is kind of appealing to me for that. And if you've watched my channel, you've been into smartphone farming and various things like that, that might interest you as well. Is now you can be officially a miner with your smart devices, like a real miner, not just like running these smartphone devices picking up a few bitcoins here and there, or a half a token a day or no token at all a day. But with this, it seems like it's, it's a whole different ball game, you know. And so I'm excited to see what happens with this. I'm gonna pick up a few. I will leave a link in the description to the crowd sale. They, they're again, they're following suit like Electroneum where you can drop these referral links, and if you use the referral links, you'll get a portion of you know, the tokens that are sold. So I'll be putting that in my description if you're interested. You can check it out. But guys, like I said, I don't know a great deal about Phonium at this point other than I did watch the CEO speak at some type of event, and I forget the name of it, but it's on YouTube. I'm sure you can find it if you put it in your, um, in your YouTube search. And if you attempt to just, um, uh, uh, you know, if you just, uh, you know, uh, you know, look it up on, on YouTube. I'll try to leave a link in the description. But he talks, uh, a great deal about it, and I, I was kind of picking up some of it as he went on and while I was doing other things. But I was able to just, you know, discover how he talked about getting rid of the ASIC miners, that it would be all from the mobile device, that the phones that heated up would somehow be dropped from the blockchain and not used, and various things like that. But it's pretty interesting stuff, guys. Check it out. You know, it's at 1 cents if you want to buy some, if you want to just take a risk and see if it goes up during ICO, which is probably what a lot of people might end up doing. You know, that'll be interesting to see. And as Electroneum really doesn't have any competition at this point, somebody's gonna have to rise up and be their competition. Every, every great idea, every great brand has a great competitor, a great adversary. And so that's bound to happen here or there. If it does happen, maybe it's a good idea first to capitalize on it. And if it happens to end up like Electroneum or some other coin, well, that's just how it works. It goes sometimes. But anyway, guys, that's all I want to say about Phonium at this point in time. About 2 days left on their countdown to their token sale. Uh, they are talking to— they are saying that, uh, they've been approached and they've spoke with several exchanges that already want to list them, various things like that. So will be interesting to watch, guys. If you like content like this, don't forget to like and subscribe. And until next time, take care.