Electroneum - Will Survive And Benefit FB Global Coin/Binance No US Service

Hey, you all, welcome back to the channel. I hope you all are having a great Friday afternoon. So I want to talk about, uh, some latest developments with Electroneum. We know that Richard Ells had been attending a big cryptocurrency conference in London, and, uh, great new developments came out of that. That Electroneum would be in 20 more countries in idea by 2020. A lot more explanation of the direction of why they went to South Africa was brought out. The idea that in certain areas in South Africa, Soweto, the about over a million people only make about $0.20 per hour. This is, uh, quite significant because if you're receiving, um, an idea about $3 per month from Electroneum, uh, in these unbanked regions, that is a vast amount of value, uh, to their economy and to the people. Uh, you're looking at nearly around 10% of their annual monthly income. Possibly from Electroneum. And it's quite significant to creating an ecosystem of how to move their value. And with the integration of the GitGuru, they'll be able to transfer that value through Electroneum, expanding the economy. But I wanted to add what's happening with Electroneum also to what we're gonna get with Facebook Global Coin. Coming out, uh, the white paper to be released on June 18th. So this has been a big topic around cryptocurrency because of the massive effect of what it means, uh, when Facebook Global Coin comes on the scene and is offering, uh, which is, um, clearly becoming banking services to the globe. And, uh, competitive-wise, what's going to happen to many of these altcoins? So there have been predictions that many of these altcoins will fall to the Facebook Global Coin, and I believe that is the case. I would speculate as high as about 98% of the cryptocurrency projects will meet their demise at the release of Facebook Global Coin, but I'm quite optimistic with Electroneum. And I'm gonna tell you some reasons why Electroneum will survive Facebook Global Coin, and not only survive Facebook Global Coin, but in addition to that, I think Electroneum will actually be one of the benefactors of the new adoption that's gonna come through Facebook Global Coin, and we're gonna talk about that. So what many of us speculate is going to happen is is that Facebook Global Coin is going to be the educator of billions of people into cryptocurrency. Uh, and we can pretty much predict that happening, uh, due to how Facebook is set up, how many users are already on it, and the fact that they've been the best educators of people online for decades now. This has been an immense problem for cryptocurrencies. It's almost been like, uh, the cryptocurrency field going into a new industry not knowing how to educate people and adopt new people. Uh, the way the cryptocurrency structure is set up, we just either do not have the skills or the know-how. Uh, many of the developers seem out of sync with human psychology or on how to create products that people are actually going to be able to use, want to use. And then there are developers who do, and they create great products and projects that are gonna make it to mass adoption quite easy. So let's go over how one theory is, is how this will go down. Facebook Global Coin will educate billions upon people into the basics basics of how cryptocurrency works, the importance of it, why we need it in the first place. And once these people get the handle on this, the optimistic idea is that they will say, okay, now this is what cryptocurrency is all about. Now I want to use other cryptocurrencies, and thus we're going to venture into these other areas of cryptocurrency. Gonna venture into Bitcoin and the likes, and that's gonna cause the cryptocurrency markets to explode. But I don't think it's gonna exactly happen like that. I think what is probably gonna be more likely is that these people are gonna learn the cryptocurrency system, uh, and they're going to push for the remainder of cryptocurrency, the cryptocurrency sector, to work like how it's working with Facebook Global Coin. Not to say that they won't move out of Facebook Global Coin into other cryptocurrencies, but to say that in theory it makes more sense that they will move into projects similar to Facebook Global Coin. And There are several projects that are very close to how Facebook structure already exists, but not only that, there are several projects that are very user-friendly to mass adoption. And one such project is Electroneum. Electroneum has one of the easiest methods to get started in cryptocurrency, download an application, turning it on, and you're earning Electroneum every day. Because now they have the cryptocurrency, they're getting it consistently all the time. It is of value to them and it is important to them, and it is easy to use. Not to mention, the, the mobile application is designed well in a way that it makes people want to use it. You know, in, in the business world, when products are designed there are certain departments that come in and design them, engineer them, uh, in a way that is appealing to the customers and the clientele that are going to use it. And Electroneum seems to have that recipe. And when they created their mobile app, now a lot of other cryptocurrency projects I've witnessed haven't cared much about the designs or wallets, or they've created these clunky wallet syncing projects more geared towards security and protection and decentralization. And that's all understandable because privacy and censorship is important, but they have kind of put the cart before the horse and they misunderstood the evolution of how this needs to take place. This is something that needed to evolve in steps. And when you get hybrid products that kind of go from centralization to a type of decentralization, ever moving to decentralization, then you get products, uh, and you get, uh, onboarding of people in a much more efficient way. And this is the blockage that many developers don't get and many projects don't get. And because of that, the benefactors and the inheritors of many of what's going to spill over from the Facebook Global Coin are going to be these very easy wallets and easy products like Electroneum, uh, projects like what we're working on, BitcoinNYK.com. That's almost a mirror of Facebook minus the centralization part because our miners are elected by the community. Um, the, uh, projects like BitTube that is very reminiscent of YouTube, which is a good move because, uh, the layout's kind of similar to BitTube because they're going to have easy access to getting in these projects and then using the wallets, right? So these are the kind of projects that are gonna mass adopt quite easily, right? There's another project called Uptrends. I'll try to leave links in the description for these projects. These are very efficient projects and they give very user-friendly ways to adopt all of these billions of people that are gonna now be interested in cryptocurrency and the transition from Facebook Global Coin to those cryptocurrencies that are easy to use and similar in feel to that are going to be the first line of benefactors, right? A lot of people say, well, it's going to make Bitcoin higher. I think indirectly it is because when they get into these other cryptocurrencies, they're going to be trading against Bitcoin. But I think that Bitcoin is going to serve more like just a place to more like gold. It's going to be the gold of cryptocurrency, right? And when you think of gold, just kind of think about how we use gold today. You don't really use gold. It's just someplace to kind of stabilize your money. So strangely enough, Bitcoin is going to kind of become a stablecoin in cryptocurrency, right? And that's what it's going to kind of be. Uh, so it's going to be of value, but it's not going to be much of use of a direct utility, utility-like use, if that makes sense. Uh, also, uh, new reports have come out that Binance will not be accepting US customers. And, you know, in understanding what that means, uh, you know, many theorize that US customers probably account for 40% of the business on Binance. And so what many of us see happening now is this is going to have a very negative effect on the altcoin markets. So the altcoin markets are going to suffer severely over this. Now, one plan as well is that Binance at some point in the future is to introduce a US version that is fully regulated. And with the regulations that go on with the United States, to put a timetable on that process, who knows. It could be years possibly before that happens. We do not know, but we do know the altcoins are going to suffer tremendously. And so this is going to add to, uh, what I believe to be many of the fall of many altcoins over the, over the, um, this, the time frame of Facebook Global Coin launch, which, which could be as easy as this or as fast as this month coming out. Uh, and so I think we're gonna see just these altcoins, uh, because many of them are redundancy coins, you know, as to say many just in idea do the same thing, try to go out to the unbanked, uh, and they don't quite get there because of the way that the, uh, the, um, adoption rate is going and the technology, how it exists. And And it's just not pulling people in. Because of that, the Facebook Global Coin is going to win in that department. But the Facebook Global Coin, again, the best impact from Facebook Global Coin going into these altcoins are going to be the ones that mirror it and are more like it. And I think that's just, you know, going to be fundamentally what happens. Just due to the mechanism of it itself. You know, the narrative we want to go with on cryptocurrency is that privacy and censorship, um, and, um, and not being controlled by entities is the most important, uh, thing we can do in cryptocurrency. This is a vast, uh, uh, uh, mental concept in the West, but in the East and in the developing nations The reality of the situation is, uh, the unbanked people and the impoverished people and the people who are making like 20 cents an hour, these people aren't concerned about censorship or privacy or anything. They would just as fast give that up for better economic conditions, uh, what they can get from moving cryptocurrencies in and out of their economies and being the benefactors of that. Or being able to share their skills and labors across the globe. These are these people's main concerns. And if targeting unbanked— the unbanked is the main concern, which it seems to be the greatest use case for cryptocurrency, uh, as most, uh, you know, experts have said that, you know, one of the greatest use cases of cryptocurrency is going after the unbanked, you know, regions, uh, going after nations who suffer from hyperinflation and can no longer use their cryptocurrency. If that is the case and that is true, then privacy and censorship is going to take a backseat to that. You know, what your government's doing is going to take a backseat to that. These people are just concerned about economic prosperity, being able to survive and take care of their families. And so in the initial cause or in the initial phases, this was going to be necessary for the transition for for the altcoins to be able to benefit from projects like Facebook Global Coin in the market in general. Um, the regulatory things that need to take place, this is going to be necessary for the evolution of the space because what it's going to do, it's going to do several things. Facebook Global Coin is going to first show cryptocurrency that we've been doing it all wrong, that it was necessary to go through an evolution like a structure like this and then get to the decentralization process. So that is necessary in part of growth. The next part is regulation is necessary in the part of growth. Regulation is going to allow, um, the, uh, a, a more easy transition for people who are coming into this space who are watching all the wash trading and manipulation. Who are not protected by any of that, and there are no options to that. And so them being able to come through, through regulation and be in a safe or a safer place, and then transition to, uh, after being educated through the process, all billions of them, then transition through a process or the area of decentralization and decentralized exchanges and the likes. You know, once those things happen, then I think we're gonna start to see this much more consciously educated space that can make decisions like that without being victims to the space. And I think all those things are going to be important, but I think Electroneum has the pillars and the foundations that are gonna make them great benefactors in this. I think they're gonna be one of those cryptocurrencies that Uh, uh, you know, are going to be some of the first cryptocurrencies people coming off of Facebook Global Coin will want to transition into because it'll be one of the most easiest, right? BitcoinNYK.com, which looks exactly like Facebook, uh, layout-wise, uh, you navigate it the same way. It feels almost like one of those payment type, uh, applications, uh, is going to also be their best bet, right? It's going to be the thing that they are going to be pulled to the, uh, the most, right? They're going to use first. And, uh, that's why I think Electroneum is going to, uh, not only be a benefactor of what Facebook Global Coin, but it's going to survive what I think is going to be a 98% wipeout of every cryptocurrency. Because what are you going to need it for? You're, you're not going to need it for the unbanked. And then the unbanked in these, in these hundreds of countries around the world, you know, as we've underlined, they're going to care more about economic prosperity, being able to have a bank account now through Facebook Global Coin and move this value throughout the space. But they're going to also learn other cryptocurrencies, but they're going to flock first to the ones that make more sense to them. If that makes sense. And so that's kind of where I'm at with this. Tell me all what you all think about that. Do you all think that it's going to happen like that, or do you think it's going to happen like some people speculate? It's going to be they sign off on Facebook Global Coin and then they all just come to the realization and the consciousness that, you know what, Facebook is got all our data and controlling our privacy and censoring us every time we log on. So I'm going to just go buy Bitcoin instead. Do we really think that's going to happen? If Bitcoin is going to be relative to gold, to how gold is to our monetary system, we don't use gold. We use the euro and the US dollar, right? That's what we trade the most. We put money in gold. Uh, we hold money in gold for protection or to, or as a shelter, right? Against inflation. But we don't really use gold in that capacity. And that's the point. There are going to be certain cryptocurrency projects that are actually going to be used by billions of people every day, every moment of the day. Then they're going to be things like Bitcoin where a percentage of them will put some of their money in. But I don't think it's going to work like many of us theorize or speculate that somehow it's going to usurp the value from Facebook Global Coin into Bitcoin. I don't believe it's going to work like that. I think the human nature of people are they're going to use what's efficient, what's convenient, what's user-friendly, um, what doesn't have a huge long learning curve and a very busy life. And that's how I think things are going to go. But would love to hear you all opinion. Uh, if you like content like this, don't forget to like and subscribe. Don't forget to join our project BitcoinNYK.com. We believe it will be a benefactor after Facebook Global Coin comes in and wipes out 98 to 99% of these cryptocurrency projects. Uh, and until next time, take care.