That was a moving year 2019. Especially at the end. However, the pointers for 2020 are pointing to great progress. The good thing about the situation in 2019 is that we have all products ready and all products are in use. We no longer need to focus so much on product development, but can work on optimizations.
For 2020, we have set ourselves an incredible amount in the areas of scaling, professionalization, wider sales and preparation of the ICO, as well as working with banks and applying for our own licenses. Here are the updates for December and the last updates and news this year 2019.
In November / December we got almost 20 ATM machines up and running, as well as some converted / reorganized. In the Netherlands, 15 ATM machines are currently running and in Belgium 3 machines are installed and running in Brussels. There is also one machine in Italy and two in Mallorca. Click here for the current ATM map
Altogether there are 21 out of almost 140 who are currently running again. We currently have around 50 machines in the company, which are now starting to reposition in January.
The focus of the activity in November and December was to bring the ATM machines to the warehouse in Uelzen and to maintain and convert them there. All machines missed tons of updates and when we picked up the machines at the locations we were able to get interesting information about what the service provider’s work looked like or sometimes did not look like.
By March 2020, the focus will now be on placing all ATMs back at locations and on the whole being fully billable again by May. Only when the goal is reached will we start to reach our number of 1000 devices again. But we will reach them. We work on that every day. Even if there are setbacks, we NEVER deviate from our plan.
The POS devices and the sales function better and better. We currently have over 300 devices available for retail positioning.
The end-of-year rally has led to the fact that this figure will very likely be increased to just under 500 to 1000 devices at the end of January. This means that our goal of reaching 5,000 devices by the end of 2020 is within our reach, which we are very pleased about, because in turn means that 10,000 devices can then be created by the end of 2021.
In the first quarter of 2020, we will tackle this scaling and set up our call center, which will handle the sales of the devices. The course for this was laid in December.
Our POS devices can handle all current payment options and are future-oriented with the Android operating program, as they can be updated with the latest developments in the payment market at any time.
Mining unfortunately became uneconomical in the last quarter of this year due to the major price setbacks, especially at ETH. We have therefore transferred the operation of the mining farm to a partner company and are currently only looking after the technical support at the new location.
The prices and the associated current inefficiency after 2 years of crypto-ice age have greatly affected the mining industry. Anyone who has mining hardware in the farms we look after should expect that the devices are currently paused. This will only pay off when the ETH price goes up to $ 200 and more. Only then do we recommend to start mining again.
What does inefficient mean? This means that operating your own mining hardware is more expensive in terms of energy consumption than the generated coins. Many, if not most, of the farms that deal with ETH are currently paused due to this inefficiency.
We ourselves assume that the prices will recover in the course of 2020 and that we will thus return to an economically positive area in the mining industry.
So patience is the order of the day, but don’t panic. Overall, it should be said that the crypto market looks positive. Regulation is currently taking place in most countries and is therefore progressing well.
With a paper, Deutsche Bank predicted that the cryptocurrency technology would be adapted by 2030 and in the last days before Christmas there was even a proof of concept from the ECB, the European Central Bank, about the introduction of a cryptocurrency by this.
In addition, BAKKT and more and more institutional investors are pouring more and more cash into the crypto market. The statement that gold ownership is currently likely to be restricted or even banned while the crypto market is being regulated and opened up leads one to think about where one’s own money is now better spent.
In addition, the digital crypto YEN issued by the central bank in China is already a real competitor for the dollar. In addition, with the Libra and the waving of the Facebook currency through China, the USA is now really under pressure. So in our eyes crypto has already won. The question, however, is whether the free form will win in the long term. Certainly she will not lose, but will find and hold her right to exist. In addition, the next Bitcoin Halving is due in May 2020. You can find out exactly what that is here. As a result of this halving, the market will lack between $ 40 and $ 60 million a week in bitcoins from May. If the demand for bitcoins remains the same while this large number of sales is missing, a massive price increase could result. We will see. One thing is certain in the crypto market, nothing is certain 🙂
We could add an endless text with positive headlines here, but we would like to state that, as an infrastructure manager, we are very well positioned in this regard. Because the devices don’t matter whether the Libra, the Chinese crypto yen or the Bitcoin is running on our devices. Earn no matter what currency runs on it. Mining will also become more attractive when market capitalization increases, not least because it will ensure secure decentralization of cryptocurrencies.
So just be patient as long as the price is down and the devices start as soon as the price goes up. Then you take double profits on the course development and the device return.
EUCA / ICO
There is news in the area of own ICO. For us, our own ICO only plays a role when we have created a corresponding use case. We have been building infrastructure for this purpose for almost two years now, developing products, sometimes even taking on their own distribution and gradually creating an infrastructure as a separate ecosystem.
Many competitors did not have the patience to create such an ecosystem and use case and have disappeared from the scene. Others have rushed ahead and started the ICO to realize that the use case is missing. Now these companies (about a handful have remained after the ice age) are artificially building a use case afterwards. It is easy to see that this is not easy if you just watch these companies. Apart from a vision, there is nothing to be found in real assets. Only the operator has a lot of cash on their side if they were lucky enough to save it through the ice age. (as I said, a handful)
At C-Novation, we don’t let it rush us or push us onto a track that doesn’t make sense in our eyes. But we are already “practicing” for our ICO, because we have just accompanied a coin launch and implemented it technically. This worked very well. It included advice and technical processing, including support for exchanges, blockchain explorers and the corresponding creation of nodes and wallets. Everything was implemented in a very short time. Now it’s time for the technical implementation of your own coin and thus the opening of the playground. Will the coin come quickly? I don’t think so, because (see above), we still have a lot of plans to create a perfect use case. In addition, another area is planned, which will inspire the coin even more extremely. However, this area will only be announced at a major event in 2020 and could then mean the launch of the ICO. Could!!!! We will see, because other parameters for an ICO are also important to us. Namely not only the own infrastructure, but also the number of a large community, as well as an extremely positive market mood. The latter is not yet sufficiently available, but should the wind turn in this direction, we will have our own coin in the drawer and can activate it within a week. The current test was good for that 🙂
All in all, despite the stormy times in which cooperation distributors did not implement what was promised and threw us back a lot by our ATM service provider prefers to act destructively and still has not yet given us the keys or handed over all the ATM devices to us, in spite of all this rainfall, which everyone gets regularly in life, we stand as a company and do our work, every day. This always moves us forward and when we have reached our goal, we look back and know what everyone has contributed to it or not. At this point we would like to thank everyone who gives us trust and appreciates our work, everyone who helps daily or just has patience. We wish everyone a Merry Christmas and a nice transition to 2020. We have our auto focus goals and wish everyone to achieve their goals as well. Thank you very much and good luck
Yours C-Novation Team