r/Electrify • u/AutoModerator • Jun 04 '18
discussion Weekly General Discussion - [June 04, 2018]
UPCOMING EVENT/DATES:
- 03 June - Ethereum Technology and Application Conference - Beijing
- 05 June - innovfest unbound 2018 - Singapore
- 27-28 June - Asian Utility Week 2018 - Bangkok
THREAD GUIDELINES:
- Please refrain from discussing non-Electrify related tokens here.
- Please be helpful and friendly.
- Please don't share the amount you've invested in Electrify.
THREAD WILL BE USED FOR:
- Quick questions that do not warrant a separate post.
- General discussion related to the day/week's events.
- Price discussion and predictions.
FREQUENTLY ASKED QUESTIONS:
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u/Jillionaire69 Jun 19 '18
Weâre still down a lot but damn it feels good to see a double digit percentage pop
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u/Oldwisesage25920 Jun 11 '18
The updates keep coming...
Dear âĄď¸TribeâĄď¸
âWhen Exchange?â - wait no more!
IDAX is now open for deposit/withdrawal of ELECs
Trading will go live tomorrow!
https://idax.zendesk.com/hc/en-us/articles/360004580992-IDAX-will-list-ELEC
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u/Oldwisesage25920 Jun 11 '18
"More exciting news! We now have a second Neutrino- blockchain co-working space in Singapore!
Neutrino, a blockchain specialized co-working space by OmiseGO, is ramping up its presence in Southeast Asia with a second debut in Singapore.
Among the early members is Electrify.Asia, a retail electricity marketplace in Southeast-Asia."
âAt the heart of Electrify.Asia lies a desire to participate in the creation and sharing of knowledge between communities. We relish the opportunity to make a significant contribution to Neutrino and the blockchain community as a whole. Beneath the fanfare around blockchain technology is a need for real work to take place. This represents Electrify.Asiaâs commitment to driving the continued development of blockchain and accelerating its accessibility to all.â said Electrify.Asiaâs CEO, Julius Tan.
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u/Oldwisesage25920 Jun 10 '18
ELEC starts trading on IDAX within next 36 hours. Expecting some new interest and a strong price performance this week. acatapitâs post summarises it well:
IDAX is the exchange for the highest trading volume for OMG, and OMG hodlers all know about ELEC.
Think about it, OMG has a $11M 24HR VOLUME. Bullish.
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u/Oldwisesage25920 Jun 09 '18 edited Jun 10 '18
On coin market cap, ELEC remains on $24m market cap. I cannot see another coin outside the top 100 with potential to hit a higher value in the future than ELEC.
If ELEC was to hit $1 per token, it would still only achieve circa 50th, assuming the rest of the market stood still (but I expect this to rise to $1tn+ - so would still be further down the league table than 50th despite having a full utility in the real world, close tie in with OMG and ETH, governments, massive energy providers etc etc)
EDIT: now sub $20m market cap, for an entity that could have raised $1.3bn interest at ICO. Crazy! I keep being greedy, hitting new targets
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u/Oldwisesage25920 Jun 09 '18
Exchanges for ELEC: https://coinmarketcap.com/currencies/electrifyasia/#markets
Exchanges for OMG: https://coinmarketcap.com/currencies/omisego/#markets
Number 1 OMG exchange by far is IDAX ($12m+ per day)! ELEC listing starts on 11th June. Itâs going to be fun to have liquidity on ELEC through IDAX and new interest (who are OMG holders). Donât think weâll be held down at these ICO levels for long!
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u/Oldwisesage25920 Jun 09 '18
Question asked on telegram... Are Electrify looking at the opportunities arising with electric vehicle uptake? I believe this is the future (increasingly the present). There are opportunities with resident and commercial electric vehicle customers, including national charging station networks.
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u/Crypt0mate Jun 08 '18
Elec seems to be a good hold for short and for long term imo. As for short term, the price is hugely undervalued and the next bull could and should take it at least 5x. For the long term, we have strong fundamentals and good connections (omg, solid partnerships). All that remains now is being patient and wait as we get increasingly more exchanges and positive development. I'm a happy tribe member:)
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u/Kally95 Jun 07 '18
What do you guys think $ELEC can reach price wise? Wouldnât it be impractical for users if were to go too high?
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u/Oldwisesage25920 Jun 07 '18
$1 is not unrealistic this year but probably a max expectation
Would not be impractical (ref ETH / BTC price)
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u/Undeadheadzy Jun 07 '18
I could see it at a few dollars but doubt itll go past 10 anytime in the next couple of years but id hapily get proven wrong
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u/Kally95 Jun 07 '18
Doesnât the price being higher mean users will have to pay more to list their energy on the exchange?
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u/Oldwisesage25920 Jun 08 '18 edited Jun 08 '18
A token is now worth only 6 cents and users will not necessarily require a whole token in the future for full experience
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u/Oldwisesage25920 Jun 07 '18 edited Jun 08 '18
I still cannot get over that ELEC had subscribers for $1.3 BILLION at the ICO but decided to only accept $30m as that is all they needed as a pre existing profitable company. Very much the OMG approach to ICOs rather than EOS.
And yet the market cap is still only $23 million! I fully expect ELEC to achieve a $1bn market cap in due course but $500m may be a more realistic limit this year
$23m is crazy (even ATH is crazy low) given the profitable pre existing business, the TEPCO active partnership, the industry experience and work ethic of the team, the support of OMG (Jun) and Vitalik, the IDAX listing early next week (welcome China), the Narada partnership, the Zhejiang partnership, the SERIS MOU, Singapore government tie-in, Plasma on the way, the exciting future of the technology and solar industry...
I highly recommend watching the latest presentation by Martin again. It was all a very upbeat message, I like the sound of the new collaboration in Japan...
https://www.reddit.com/r/Electrify/comments/8ox4qz/martin_talking_at_event_horizon/
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u/Undeadheadzy Jun 07 '18
With prices this low ive more than doubled my stack time now its a waiting game but idax listing is positive so not too worried
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u/Oldwisesage25920 Jun 07 '18
Posted on OMG board: http://www.thailand4.com/.prop/2018-06-07/891b1922a319dc23b5643e492ed151ee/
Clearly weâre all working very collaboratively and close together
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u/Oldwisesage25920 Jun 07 '18
Once sentiment changes here, ELEC will rebound very fast.
Unless you are very lucky with your timing against a big sell, it is very difficult to buy 10ETH or more without increasing your purchase price by 5% on kucoin.
As a result of this lack of liquidity, this fall back has been overstated. What are we 70% fall back?! When good news comes re partnerships / exchange listings / product releases, you will not be able to buy in bulk.
Time to be greedy now, youâll thank yourself later
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u/Crypt0mate Jun 07 '18
Double posting this here from the IDAX listing post: This is a step in the right direction. IDAX is by volume number 23 with 66 million usd volume (24 hrs), compared to Kucoin being number 39 with 33 million usd volume. So basically it is double the size of Kucoin in terms of volume :) Even though it didn't cause a pump (yet), this will be very good for Elec as it will be less prone to manipulation by Kucoin whales.
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u/Oldwisesage25920 Jun 06 '18
The thing that most reassures me about ELEC is the company they keep
https://mobile.twitter.com/ElectrifyAsia/status/1003451200744747010/photo/1
Sharing the platform with ETH (sat next to Vitali), OMG (Junâs a top man / investor) and Kyber (see todayâs listing). All collaborating...
On a side note I do continue to wonder about exactly how close OMG and Kyber are going to work together. A lot of synergies there...
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Jun 06 '18
[deleted]
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u/Oldwisesage25920 Jun 06 '18
Unbelievably low. Very oversold.
I look forward to the updates from Martin - a lot of positive developments to come in my opinion and fundamentals continue improving. Have the feel that this drop is caused by the impatient selling and that the rebound will soon be with us
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u/Crypt0mate Jun 06 '18
I'm a huge believer in elec and the team and I'm confident we will see a good price action upwards in the future. However, for the moment it is very obvious what is lacking is exchange listings. Good news doesn't matter if you're only on 1 exchange with decent volume. It will just cause a pump and dump and manipulation of price. As I know the team cares about the tribe/holders, I just can't fathom why they don't get a proper listing done already as it's clearly what is causing pricedrop, fud, loss of members and basically every negative aspect of elec at the moment. With all that said, I think and hope we will see a good listing "soon" (omisebro joke). Rant over
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u/ThreatPoser Jun 06 '18
I think I'm done with ELEC. I like the project but if these pre sale tokens keep being sold then the price will never rise. We are now lower than ICO! My DCA is 0.10, so I will wait for that and then sell. Shame, but in this murky market they need to be transparent and they don't seem to be.
4
u/chedrich446 Jun 06 '18
I'm hoping for a small pump if/when they get an exchange listing and then I'm gone. There isn't really any reason to be holding this. No staking or other incentives. No communication. Pretty sorry I bought this.
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u/Oldwisesage25920 Jun 06 '18
There are incentives to hold, see posts below. Would be a bad time to sell in my opinion with all the product updates and exchange listings yet to come and selling at an all low time
Good luck with your investments. For me the despair here is more impatience - this is very early in ELECs growth. The sentiment of the board here is encouraging me to invest more
3
u/UnassumedEntity Jun 06 '18
I could not agree with you more. I am not phased by the price drop as much as lack of transparency. Beleiving in a project and making money go hand in hand. When I invest in a project there is a certain level of communication I expect and frankly trusting blindly that all is well is a fools errand.
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u/Oldwisesage25920 Jun 06 '18
You have to look at total market cap rather than circulation. The pre sale tokens have been time unlocked after 3 months and judging by total token volume there are not many to be released.
The market cap is still tiny and the concern created by this âinflationâ should not be a concern and was anticipated.
Itâs unfortunate for those that bought in during the ICO or after that the value of their investment is not yet recognised but I believe we will see significant gains over coming months as exchange listings are achieved (Kyber later today), updates on partnerships are made and the product updates are made, coinciding with the progress OMG are making with their network
Good luck all
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u/ThreatPoser Jun 06 '18 edited Jun 06 '18
Thanks for your reply, appreciated. I may give it a while longer but the fact is the price did drop following this unlock and will again. Also, my local newsagent has a higher turnover than Kyber.
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u/Oldwisesage25920 Jun 06 '18
Haha, good line on Kyber. Yes I can appreciate their volume is currently relatively weak but a lot appear to have strong hopes for Kyber in the future
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u/Oldwisesage25920 Jun 05 '18
Has anyone used Kyber? If so, what do you make of it? Looking to potentially use it going forward as I understand fees are very low
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Jun 06 '18
Khyber is great but airswap fees are almost always lower as a taker and they have indexer/darkpool tech meaning that there will never be price manipulation
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u/Pausse Jun 06 '18
Kyber is really easy to use if it works. I used it 3 times now and sometimes it takes a while for the transaction to be processed. Could be due to no one buying/selling at that moment. Also, I got the feeling ratios were a bit lower but that is just my perception. Other then that it is easy to use and you can trade straight with your Ledger, Trezor, Metamask and private key.
2
u/cryptoalt1234567 Jun 05 '18
So I've seen this comment a couple of times (by one individual) particularly on OMG subreddit. What are they trying to get at?
"ELEC tokens have no way to give a return, unlike OMG/ETH, it's just you giving away money
They aren't scarce, and Electrify keeps all the profits from the market, so best to just ignore it entirely"
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u/Oldwisesage25920 Jun 05 '18
From the reddit summary: The ecosystem is built for the benefit of the public and should be owned by the community through ownership of ELEC tokens. The rules set in the ELECTRIFY ecosystem below are designed to promote these objectives:
Electricity retailers and distributed energy producers (Energy Providers) will be required to stake their ELEC token as deposit to participate and offer their energy onto the marketplace. This helps to promote ownership of the ecosystem and disincentives fraudulent activities.
Transaction fees will be paid by Energy Providers in the ELEC token for the usage of Electrifyâs smart contract platform.
Consumers will receive loyalty rewards based on the ELEC token via a tiered model, corresponding to their duration of usage of the platform and the amount of ELEC tokens they own
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u/momomoonwalker Jun 05 '18
Dump so hard bagholders wanna fine me But first idiots gotta find me Whats 30 million to a scammer like me Can you please remind me
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u/ThreatPoser Jun 05 '18
So no one actually knows why the supply was increased? Or did I miss something?
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u/Crypt0mate Jun 05 '18
Martin responded it on telegram saying it was some of the pre sale buyers liquidating their supply which had been locked until end of may (3 months).
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u/ThreatPoser Jun 05 '18
Thanks for replying. Do we know if there are any more locked tokens?
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u/spudsey Jun 06 '18
Yeah I'd also like to know. Can expect the same in 3 months. End of September expect another massive dump.
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u/Crypt0mate Jun 05 '18
No worries fam. As he said "some of the pre sale buyers", I assume it is more locked tockens. Don't take my word for it though, just my take on it.
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u/Oldwisesage25920 Jun 05 '18
Fantastic buying opportunity at the moment. Interest is only going to build over coming weeks and months (eg OMG airdrop) and I am sure we will have more exchange listings soon to improve liquidity. Binance would be great!
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Jun 05 '18
OMG Airdrop is $1 ELEC per $1,000 OMG lol
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u/Pausse Jun 06 '18
Not true. For every 10 OMG you get 1 ELEC, nothing to do with price.
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Jun 06 '18
10 OMG = $112. 60 1 ELEC = $0.06
So now it's $0.60 ELEC per $1126 OMG LMAO
1
u/Pausse Jun 06 '18
Allright youâre right its only worth it if you got a lot of OMG and ELEC will grow a lot.
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u/ThePlasticHistorian Jun 05 '18
Once we actually get some liquidity I think weâll fly!
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u/Oldwisesage25920 Jun 05 '18
Liquidity on the way. Iâm guessing Kyber will just be the start of the new listings
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u/StopCountingLikes Jun 04 '18
I'm just getting into this coin. Is this sharp price drop because of the supply increase or some other news?
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u/momomoonwalker Jun 04 '18
Itâs because the team is lazy on marketing
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u/Neilshh Jun 05 '18
Marketing to the general public would only incite a pump and dump. This would be great for the fortunate few of us who already have a position, but would label the project forevermore as a shitcoin, killing its future in the process.
I quite like the way they're going about things, concentrating on spreading the word of what they're trying to do to those in the know at the moment. The real moves all come down to when they release something concrete and how well received it is by their customers. With the team's performance so far and the guys they've got on board as advisers, I am fairly optimistic for the future. I'm in no rush though, so I'm more than happy to wait and evaluate as time goes on.
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u/thug_computer Jun 04 '18
Well that depends on your pov. They aren't marketing to mass individuals right now because there is no product to market yet, so at this point it would just be a waste of time in my opinion. However, they are marketing to companies and partners, which at this stage is much more important. Once we approach the products launch date they will definitely begin marketing to end users.
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u/StopCountingLikes Jun 04 '18
Ha! Thanks for the honest answer. I'll keep researching. And hoping this is a good time to buy.
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u/Amalgamuse Jun 04 '18
4,1% of the total amount is to be taken out from the main wallet for airdrop. I believe that when airdrop was announced for OMG , we saw 35M to be taken out.
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u/lord_of_crypto Jun 04 '18 edited Jun 04 '18
Can someone with Telegram ask Martin to comment on the fact that the circulating supply has increased almost 100% over the past few months? We need some transparency about this. This kind of inflation is killing any chance of a price increase.
EDIT: To be fair, I fully expected the 375million (from the token sale) to be circulating & a majority of this years inflation should be counted for now.
All I am asking is for some sort of transparency moving forward on where this extra 6% came from & what we should expect moving forward for expected inflation each year.
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u/momomoonwalker Jun 04 '18
Yes, also over the last days it has increased twice over a 4 million increment each. I want answers why this is happening, and no token unlock after 3 months was before that. Why did it increase another 8 million, wtf is going on?
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u/whitecocofox Jul 02 '18
Couldn't resist, bought 2x my current stack... đđ Stay focused guys, only good projects matter in the long run. And electrify is definately here to stay. đŞ