I like starting with stats, so here are the token sale stats for the last few days, with the comparison from the previous ones just because:
| Token Sale Stats | October 16th | October 10th | October 4th |
|---|---|---|---|
| # of Token Sale Users: | 140,810 | 53,920 | 35,243 |
| Total ETN Sold: | 2,457,367,304 | 1,300,967,288 | 965,404,178 |
| Total ETH Raised: | 25,828.4104 | 15,365.3426 | 11,880.1735 |
| Total BTC Raised: | 2,530.0786 | 1,254.9082 | 871.5965 |
The increase has been massive once again. More than twice the number of registered users and 1 billion more ETN sold in less than a week. I always trusted the team because of their marketing background and they have proved me right. They have done a phenomenal job attracting more users and gaining momentum but they have also proved they are an honest team. A couple weeks ago their server crashed during the last 2 hours of the 40% bonus because there were so many visitors in the website (over 100,000). The developers recognized this technical error, but instead of simply apologizing for the inconvenience, they gave a 24hr extension for the 40% bonus for those who missed it when the servers went down (you had to open a support ticket to ensure your bonus was bumped), and they also took the necessary steps to prevent this from happening again.
There are still a couple weeks left for you to participate in this ICO, and you have until October 18th, 2017 to claim the 10% bonus (so you get 110 ETNs for every USD 1 you invest). Starting October 19th through the end of the ICO (October 31st), there is no more bonus (so 100 ETNs for every USD 1 you invest). Now, bonus or not Electroneum is still a good investment, but if at any time during the remainder of the ICO you would like to get an extra 1% bonus you can use my referral code: 5E52E7 (you can also click here: https://my.electroneum.com/join/5E52E7).
One of my biggest concerns when I first learned about this ICO was the number of coins available (total supply: 21 billion). I was one of those people that thought the success of crypto currency relied heavily on its limited supply, on its exclusivity, and I was ready to start looking for a different ICO to invest in, but I also liked their idea regarding the mobile app, about reaching the masses, the newbies, people like me at that stage (not that I am the Obi-Wan-Kenobi of crypto currency now, but at least I don’t feel like such a noob anymore). Then, I started reading about other successful alt-coins and their total supply, and what caught my eye was that ETH does not have a limit, yet it is currently valued at around USD 338 per ETH. If a crypto-currency with no limit can reach those numbers, why couldn’t Electroneum? Yes, it may take years for it to get there and it is unrealistic to invest on any ICO hoping it will be the next BTC or ETH, but I do believe that if they do reach the mass audience they are aiming for, it can still be very successful.
Sure, the mobile mining approach might be mainly for publicity (as they have said you may be able to make USD 3 to 5 a month - maybe less or a bit more depending on how many hours you have the app running, your phone power, etc. - so you won’t become a millionaire from that), but publicity is exactly what crypto currency is missing at this point to reach more people. Lack of knowledge has been an issue and Electroneum is tackling this issue by introducing and making cryptocurrency more accessible to the masses. It may not solve entirely the barrier to entry the crypto currency world, but makes it a bit easier. Also, like I mentioned in an earlier blog entry, the team is investing a lot in translations as well, and another big issue is not having the information available in your native language (this in return will attract more users).
Of course, marketing is not enough but it is an important first step. This will get people to download the app and start adopting crypto-currency. In the end, the value of things increases when there is demand for them and once crypto-currency reaches the masses, companies will be willing to integrate it, slowly becoming more of a necessity (like the internet, email, smartphones and so many other things that came before. At first they were a fad but now they are more of an obsession / necessity). Again, this may take many years, but I prefer a slow growth, rather than the project growing super fast and then fading into obscurity like other projects have (crypto currency and non crypto currency related).
If you want to learn more about Electroneum, be sure to visit the company’s website: http://electroneum.com and read their whitepapers as there is a lot of detailed information on them. They have 2 WPs, one is the overview and the other one has the technical information. Remember that investing on any ICO or crypto currency is risky (as is any type of investment), and there is no guarantee of returns, so never invest more than you could afford to lose.
Happy ICOing!
Ally
PS. Links to some of my previous posts: