Electroneum - Will It Fail? /Uptrennd $5 Sign up Ref Bonus

Hey you, welcome back to the channel, and today we're going to talk Electroneum. Will it fail? So it's been a little bit since I did an Electroneum video. I had some people comment on some of my videos and say, hey, what about Electroneum? When you gonna do another Electroneum video? And so I wanted to do one today. I was looking here at the price of Electroneum and When I see the price like this on Electrum, this, you know, to me, this is like perfect. Uh, just me personally, just me personally, this is like perfect buying opportunity because I'm convinced in my mind that the price is going to go up when it goes this low. But I want to talk about specifically today, um, and you know, don't copy my trading, you know, I don't sell trading courses. I don't want you necessarily copying my trading, but what We just want to talk about some practical approaches to trading and cryptocurrency in general and just some things we need to pay attention to. But let's talk about, uh, will Electroneum fail? So asking a question like that, I think it kind of opens up a broader question in a broader sense. Will cryptocurrency fail? Will Bitcoin fail? And I think many of us in the space now are convinced that, uh, the answer to those questions are no, that, you know, these cryptocurrencies are here to stay for the most part, and that, uh, you know, some will fail but not all of them will fail, right? Um, so let's, let's really discuss and get into the deep, deep psychology of the cryptocurrency space, right? So when people say that projects like Electroneum will fail, they're generally going to be basing that on the performance of the price, what's happening specifically with the price at that point in time. But here's a few things we need to understand about cryptocurrency markets, and that is that they are highly manipulative at this point, right? I'm saying that to say this, that we need to be very careful with placing the concept of a project that could be a good concept, that could be a good idea, on market manipulation, right? And what exactly is market manipulation in cryptocurrency? For me, it's a much broader it's a much broader idea to me. It's more— it's not just the standard idea of market manipulation, you know, your average pumps and dumps and a variety of things. But it's just this kind of generally overall stick and carrot type economy, right? Where somebody is dangling a carrot over our head and going, hey, this thing is pumping up, is doing well. You know, we just did this, that, and the other. And getting people to buy into project after project after project, right? And it really doesn't matter the fundamentals to us many times, uh, just as long as the price is moving. Now, what's wrong with that picture, right? That's not foundationally solid, uh, for a project just to kind of have this constant stick and carry. Mentality about the markets, right? You got to have fundamentals, sound fundamentals, and future plans, and good management teams, right? Uh, one, one big problem with decentralization that I think has held back many projects is just the fact that it is decentralized and nobody's running, everything's just kind of doing what it's doing. Well, that requires a great amount of evolution over time to take root and take place if no nobody's running the thing. There is no management or anything like that. You're just hoping that it'll catch on like wildfire and everything start working like clockwork. Well, in that sense, that's probably not gonna happen. So it's gonna be a long drawn-out process like evolution for that to happen. But in the cases where you probably got something like a hybrid project like Electroneum, you got a specific management team doing things, that time could be cut down dramatically, right? Tremendously, because of, right, they're able to kind of steer the helm of the ship. And so what's been happening, I think, a lot in Electroneum's case is it's been this very much this concentration on building up this product, building up this brand, and it hasn't been this stick and carrot market for electronics. And that's what we're accustomed to getting in cryptocurrency. Now, the vast problem with that is that if you just continue on with the stick and carrot mentality, right, if you know, that's not a good method for building up good products, right? It's a sideshow. And that's why many cryptocurrencies, no matter how many billions they trade a day, how well they do. They're still not household names because people just, you know, I think people just recognize— I won't even say that the marketing is bad at this point with cryptocurrency and people don't know about them. I think the demand for them just isn't there, right? It just isn't. It's just not important to people. And the reason that is, is because the cryptocurrency space has not made a very good case for that. But projects like Electroneum could. But at this point in time, they're still trying to get all their ducks in a row, trying to get all their ducks in a row. Now I think as far as money, Electroneum dots all the i's and crosses the t's, right? Uh, and early on in cryptocurrency, we got to see a lot of, uh, projects that were just set out to be money. Right? Uh, the many of the first, uh, Bitcoin-coded, uh, cryptocurrencies, uh, that was their purpose and function. Uh, the Litecoins, the, uh, you know, the Bitcoin, um, uh, the various Bitcoin forks, um, the, uh, Moneros, as it were, right, with privacy. Um, And so, you know, these projects, you know, set out to do those particular things as a money. Now what's beginning to happen now is, of course, in cryptocurrency, there is many more uses to the projects other than being money, you know, a vast amount of decentralized applications, a little like what you get with Ethereum, right, being built on Ethereum. And so in this, in the ever search for these use cases and demand to get the mass population of people to take notice of these projects, uh, there has been these variances and a variety of things being introduced into, into cryptocurrency. Um, so when we look at something like Electroneum and we ask questions like, will it fail, is it failing, I would say the answer is no. I would say Electroneum at this point is very much succeeding. But I do think we have, uh, basically taken on a mentality, uh, in cryptocurrency that is part of the element, part of the culture of market manipulation, wash trading. And we're so accustomed to seeing those things that we don't understand how to just look at a project with good fundamentals, right? Where our whole mentality about it. The conclusions we make are just based on how these cryptocurrencies fit in these overly manipulated markets. Because let's be clear about something, and let's, let's be fact-based. What we're seeing in the cryptocurrency space, uh, for the most part is market manipulation. The prices are fake, the volume is fake for the most part. And that means we're building a house not on solid grounds. Many of the cryptocurrencies out there are products of this, are victims of this. And that's why it's ever so much paramount that we look at what these projects actually offer to people and who's going to be using them, right? Is it more likely that someone in your home will use the Electroneum application or use Ripple XRP, right? Something to that effect. Um, and I would say it's more likely that people will use something like Electroneum, uh, starting out, right? But in saying that, that doesn't satisfy, uh, the idea that, uh, people who invest in cryptocurrency will make the kind of money they want investing in Electroneum. Because from what we can see over the last several months, what we've seen, that doesn't seem to be the case for now. That doesn't mean it won't change, and that doesn't mean Electroneum is failing. It just means that some other cryptocurrencies fit more better in a manipulated, over-manipulated market. Um, Unfortunately, and that's not all of them, but a great deal of them. Another thing is you got to understand, a lot of people who started many of these projects were people who made a ton of money with Bitcoin early on. And if you couple that with, uh, us being so drawn into this stick and carrot market, right? That's all it is, right? We're not really looking at use cases. We're not really looking at products. We're not really looking at the future. We're looking at, can this thing pump tomorrow and make me some money I could flip over? But that's not, that's not a use case, right? That's a, that's a casino. That's a casino. And remember what we said earlier, a house not built on solid foundation cannot stand, even if it's temporarily benefiting you and you are the benefactor of that. You're gonna have a market crash in the near future. And when you, when it crashes, it's gonna probably end up crashing and you're gonna end up losing more value than you made because you haven't built your house on a solid foundation. And so when we talk about failure, I think we have to really go deep with this and understand that with several independent studies, uh, done, some done by Bitwise, sent off to the SEC, um, and they have a record of that. Over 90% of the volume was, uh, was, uh, manipulated. Only about somewhere between 1 to 3%— I'm sorry, 1 to 5% of the daily trade volume is even real, right? The Bitcoin trade volume is somewhere around $300 million dollar range a day. It's not billions. And so this kind of mentality about what are good products, and I want you all to pay very close attention to this and really take a moment and understand what I'm saying here. That kind of mentality is not something that's lending to the future, uh, and, and good uses of this technology in a beneficial way, right? Uh, it is not doing that. And so, uh, we— I think we have to be very careful with our definition. Now, of course, I know it's very difficult, and I voiced my opinion about this before, that I felt a project like Electroneum that is so much driven to, um, you know, focusing on management, being this great company should consider going public, should consider getting on NASDAQ, should consider having an option to where we can convert cryptocurrency to stocks in the business, right? Just my thoughts about it. I would like to see something like that. But if they don't go that route, As far as focusing on being this great product, which this is what we want. This is really what we signed up for cryptocurrency for. We didn't sign up for cryptocurrency to be part of a gambling casino, did we? Because if that's the case, you're probably better off training to be a good poker player or trading penny stocks or something like that. At least you'll have legal protection and tax write-offs, right? Uh, if you don't benefit in those areas, but I didn't think that's why we got in cryptocurrency, right? The play the stick and carrot game, play the catch a falling dagger game. But if you want to do that, that's okay too. That's, that's fine. But it's just, I think it's a misstatement to say that Electroneum is failing just based on a, based on a price in an overly manipulated market where we're kind of playing roulette with it anyway. Um, so yeah, I think that's how we should look at that. But, but also I would say if the Electroneum team doesn't want to go the route of becoming a public traded company, making this focus overall on the product but then giving us an option to share in the success of their, their business, their, their company itself, then, um, you know, I think the evolution of the product would be fine as well. I think, you know, for one thing, I think that Electroneum has done something a lot of cryptocurrencies hasn't been able to do, and that is draw millions upon millions of people to participate in the product. Now, for the most part, the greatest social networks in cryptocurrency barely have over 3 million people. It's only a few of them. And, you know, I think that Electroneum may have a missed opportunity in that. I think that it could be some more evolution in that you know, with using all these members to kind of create a very social-like economy as well, which is like many other products are doing at this point in time. Uh, and, um, you know, if that's something that doesn't resonate with you, well, just think about the direction that Libra coin, Calibra, the Facebook project, um, uh, was going to end up in, and it's going and trying to get done. Although tied up with legislation and the governments right now. But you can see the power of that, uh, having a large network that can interact in a social platform with each other. And I think that adds more value to the product, uh, and I, I think it helps them to make a, a better, uh, case for people to adopt it and to use it and, and have these several things happening. Uh, even a product like within the Electronium wallet and mobile miner itself, maybe a little chat room, right? If you can have something like a little chat room where people can interact through the wallet, some to that effect, like a messenger rather, a messenger through the wallet app. So I don't think it's anything wrong with expanding though in those type areas. Uh, I think cryptocurrency is going through an evolution where projects don't just want to be money anymore, don't just want to be coins anymore, and to reach the mass amount of people, it might be necessary to implement several of the features in it. So I would like to see Electroneum doing something like that. But again, as far as saying it's a failing project, uh, I, you know, I think that that is a misstatement. I think that it's a misunderstanding of what is going on in cryptocurrency. Right, price pumps doesn't mean projects are good. Uh, for all we know, it could be one whale with a lot of money who can manipulate the price of their projects to make them do what they need them to do to keep people who are more so, I could say, gamblers involved in those projects. And again, that's not every project. You got some good projects out there, but one thing is clear is that they've all failed to become household names and really resonate, uh, and create enough demand, uh, to have people, uh, using them and wanting to use them. And again, a lot of people say, well, you know, they don't know, know about it, need more marketing. I don't know. I think cryptocurrency has received a fair amount of marketing. I don't think that's the problem at all. I think People have a way of finding products that they need. And that means we either have to make a really good case for why they need this, right? You know, you know, or, you know, we have to build really, really good products that they use. So in saying that, that's my thoughts about it. Electroneum crowd, tell me all what you think about what's happening with Electroneum, what you would like to see. Do you think the team's doing all they could do at this point? I'm still waiting on the GitGuru. I think that'd be one good step in the right direction, and that's been talked about coming out here pretty soon. But I love to hear you guys' opinions. Also, I would like to segue into the next part of the video. I want to talk about, uh, something that might interest you, and that's how you can get $5, uh, just by signing up. $5 worth of, uh, Uptrend tokens. Uptrend being this really great new social network, uh, that I think is gonna— is very user-friendly. I think it's gonna end up similar to what you, you're gonna get with a lot of these, um, easy ways to introduce people into cryptocurrency. that is going to draw a lot of people in and make them want to participate. So let's get over to Uptrends real quick and we'll tell you a little bit about that, how you can get $5 worth of their cryptocurrency just by signing up, and anybody you refer, they as well will receive $5. Okay, so we're here at Uptrends. So Uptrends is a social network over the in the cryptocurrency space that has impressed me, uh, quite a great deal, mostly due on this, uh, very easy to use interface, very easy to use product. I, I can imagine a person who doesn't know anything about cryptocurrency coming in here using this site. Has a very similar to Reddit feel. They get these upvotes, and each one of these upvotes are something like 2 to 5 cents or something like that. Um, and, um, everyone gets them, right? You know, when you get an upvote, everybody get that, get that amount of whatever the upvote is worth. Uh, so it's very democratic in that way. And this has, you know, been an idea that I've been trying to push around the cryptocurrency space for years now, and it's kind of fallen on deaf ears. So I was very happy to see Uptrends pick up an idea like this and really run with it and do— and they're doing a great job with it, which shows that ideas and concepts like this really work. There are many other social networks over the cryptocurrency space that are continually to bumble around, uh, and I think make these very bad mistakes on really creating these conclaves of voters that discourage new people, that will cause a lot of people not to want to participate, want to leave the site. And I think this focuses more on the community in a democratic way, from an overall standpoint, just going, hey, your material is good or it's bad, but everybody who upvotes it, their opinion is equal. And pretty much matters the same. Now they do have a way they can, um, they can increase the value of their posts, uh, on their individual posts, right? But it is vastly different from, um, uh, you know, what happens generally in many of these projects. Like for instance, uh, when you get upvotes, again, they're pretty much at the same level, same amount. each one you get from the community. And this is a very good community, a very nice community. I've enjoyed my time on the Uptrend, uh, platform, uh, and I'm sure you will too. But if you want to give it a try, I have a link in the description, uh, that referral link. If you use it, you get $5 worth of their tokens, uh, and I get $5 as well. So it's a win-win situation for both of us. And then as you go on to share, uh, with other people the project, uh, which I think is a fabulous project, you get— you earn $5 per referral as well. So, uh, good, good project. Um, I invite you all to check it out. Uh, you know, like I was speaking about Electroneum, uh, you know, Electroneum, I would love to see it keep up with what it's doing in its developments and things like that. And, you know, it's okay for them to expand. They have such a big user base. Let's do something with that user base. Let's do more with that user base. And I'm sure Electroneum, as it goes on and evolves, it will do that. But I definitely don't think it's a failed project. Also, real quick, we'll throw a BitcoinMYK.com in there. You sign up with us, you can get 100 tokens. That's about of a value of a little bit over a dollar right now. per sign up. So get $5 over at Uptrends, you get $1 worth of tokens with us. Sounds like a pretty good deal to me, uh, just for trying absolutely free. But that's all I want to say in this video. If you all like content like this, don't forget to like, subscribe, and until next time, take care.