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3air weekly AMA, 15th June 2022 @5pm CET - Weekly update and Q&A!
AMAs & Spaces
3air weekly AMA, 15th June 2022 @5pm CET - Weekly update and Q&A!
3air
3air
June 15, 2022
23 min

Table Of Contents

01
Introduction
02
Sandi Bitenc, CEO of 3air Joins the AMA
03
Last Week Recap
04
About Token Launch
05
3air NFT Marketplace
06
When the market is quiet, is it the best time to promote 3air?
07
Are there any updates regarding SKALE?
08
Continuous communication

This is a transcript from our weekly YouTube live AMA:

SPEAKERS: Anita Mlakar and Sandi Bitenc.

About AMA: On this AMA, we are giving you our Weekly update and Q&A.

AMA Duration: 46:19

Introduction

Anita Mlakar: 00:34

Hello, everybody and welcome to 3air’s AMA. Anita Mlakar is my name. Some of you already know me. Some of you are maybe here for the first time. But hello and welcome! This is 3air’s AMA, and we’re doing that every Wednesday 5pm Central European Time. Before I tell you more about 3air, let me just invite you to be a part of our channels, of our community. We are on Twitter; we are on Telegram and on Discord. Please join us there if you want to know more about our project. And of course, you are welcome to follow us on our social networks. We are also here on YouTube every Wednesday, you should or could subscribe if you’re not subscribed yet. And you should invite a friend someone who you think might be interested in this this project that we are doing.

01:27

Sandi Bitenc CEO of 3air will be with us in a couple of seconds. But first let me do a short introduction of this project.

01:35

So, 3air is the world’s first blockchain platform that helps individuals and businesses thrive on Web3 with broadband internet. It is a blockchain platform with connectivity in mind. With our technology, we bring affordable high speed and stable broadband internet, digital TV and IP telephony to the unconnected people and businesses in developing countries, cities Africa, our vibrant, dynamic and full of people running around with mobile phones. Yet there is almost no true broadband connectivity. Cities have grown too fast and without real connectivity plans. So now it is impossible to dig trenches, lay cables and provide fast and stable Internet. If you are unconnected, you’re in a way underpowered. So, we’re trying to give people internet connection to empower them. And at the same time, we’re educating them. And we are doing that in Africa with two technologists K3 Last Mile solution and our 3air internet. And once you are connected to the internet, you got a digital identity from us. We also create a digital bank account. We are providing financial services. We also have outside partners that will provide additional digital revenue streams. And once we put you through all these steps, you’re connected, banked and empowered. So, what do you say about that? It sounds great, doesn’t it?

03:08

Thank you for being with us. And I’m happy to have with us, as always, CEO of 3air Sandi Bitenc on the way.

Sandi Bitenc, CEO of 3air Joins the AMA

Anita Mlakar: 03:16

Hello, Sandi.

Sandi Bitenc: 03:17

Hello, everyone. Hi. Hi, Anita.

Anita Mlakar: 03:20

Hey, Sandi, you must tell us where you are? Because you have a long way. Actually, you’re on the way from the morning and still a long way ahead of you right.

Sandi Bitenc: 03:32

Yeah, I woke up at five and took the plane and right now, not everything went according to plan. I thought I would be already somewhere a bit more fixed at this point in time, but we just ran into some traffic jam. Yeah, so I’m right now on the way to Maribor to Slovenia, just before the border from crossing from Austria to Slovenia. So hopefully my mobile signal will hold.

Anita Mlakar: 04:12

Okay, if not, we will wait for you for a couple of minutes till you get it back. But Sandi has like you said we did announce or discover that. You are on the way to Slovenia. Of course, with a special, let’s say mission, right? Or for a special occasion, right?

Sandi Bitenc: 04:35

Yeah, that’s the private one. It’s Yeah, three weeks away. Something like that a bit more. But yeah, so here’s the second part of that mission. Here’s my dad. He is driving us.

Anita Mlakar: 04:53

Hello!

Sandi Bitenc: 04:54

Because of the AMAs but now today he’s driving, and this is how it looks like here.

Anita Mlakar: 05:01

Okay.

Sandi Bitenc: 05:03

So, we had a bit bad luck because in Vienna, there was a car accident. So, we were stuck there. And now because of this, we’re also stuck at the border. This is gonna be a long drive I think we will be driving from Vienna Maribor longer than we were flying from Dubai to Vienna.

Anita Mlakar: 05:26

Wow, that is amazing. But yet that’s how it is, right? travelling across half of the world at the same time as this. I don’t know what do we have 300 kilometers maybe?

Sandi Bitenc: 05:42

Yeah. But we said we should not miss the 3air AMA. So that’s really important.

Last Week Recap

Anita Mlakar: 05:48

Yes. And thank you for being with us. You know, you did everything possible just to be here. So, Sandi, thank you. We said that this will be in a way. A little catching up with what we’re doing in this last week. So do tell us where are we right now? still didn’t launch of course. But we know that, and we also know the reasons why. But in the meantime, a lot of action is happening. A lot of other things, important things.

Sandi Bitenc: 06:18

Yes. So, it’s the same as last week, we talked about it a bit more in length last week. So, you know, now it’s not really the time that every week, something would be changing so much. It’s mostly from the side of the token launch is just following what the market is doing. And yeah, probably whoever is here kind of isn’t too happy about the market, let’s say it like this. So, it is a bloodbath. So, we spoke last week about that, if the CPI numbers come out high, we might see a lot of volatility to the downside. And that’s exactly what happened. So, on Friday, the CPI numbers came out at about it was I think 8.6. So, it was 1% in the month of May. And that’s really bad. So, we were already on the decline in April, there was 0.3% inflation. And we were kind of hoping that inflation picked out, but it didn’t. So, we again, got a higher reading. And yeah, that now makes the whole market again, a bit more bearish and a bit more fearful of investments, again, have been a lot of people, that is actually more than 90% People are convinced that today’s rate hikes will be 75 basis points 50% percent. I still think 50% is in for today, I don’t think it’s going to be 75. And I do think if there was 50% rate hike, then we might see a bit of a relief rally for the crypto market. But that for sure won’t last for long. So, we’re now not out of the woods yet. And it doesn’t look like it’s going to be better for next two months. So, I’m pretty sure June and July are still going to be quite bearish.

08:32

Hopefully, August starts turning or then September. But let’s see, it’s gonna be come down to the inflation and the inflation is right now. Just out of control from any one particular country, let’s say it like this, although if Russia would say we are stopping the war, the invasion of Ukraine, then probably inflation would fall immediately. So, it still the two biggest drivers in the macroeconomic sense are the supply shocks coming from war with Russia and Ukraine. That’s mostly because there’s a lot of energy dependency on Russia and that’s driving the energy prices up. And the other ones are just coming from China and their politics regarding COVID is just they are really keen to locking everything down like really locking everything down.

09:40

Although Beijing opened up again now so hopefully things start running a bit more smoothly, but the supply shock is still there. So those are the two biggest things, and you know with the rate hikes, you cannot kill it. It’s too much. It’s just too much. You can just do so much on the supply side and on the demand side, actually, but the supply side is also there. And that’s harder to control. Just the problem is that the more that you hike up the rates, the more you kill the demand, the more you kill the whole economy. And that actually leads to a recession, and we would want to avoid that one.

Anita Mlakar: 10:26

Okay, Sandi, do you have a feeling also that there is not so much talk about the war anymore? At least not how they talked at the beginning, but it’s now much more about the market and everything that is happening because of the war. You know, I’m talking about reporting. I don’t know how it is with you in Dubai, but I know how it is here in Europe. So, it’s actually everything that is surrounding it, it seems like, in a way, like war is something that is just happening, and it’s normal, but it’s really not normal. Of course.

Sandi Bitenc: 10:57

No, it’s not. Maybe… I don’t watch so much the news. I’m like, you know, the crypto geek. So, I will read everything about the markets and so on. But I don’t watch so much the news, I actually don’t have even a TV connection at home. So, I really don’t know exactly what’s happening in that sense. And how much you know, talks are about it. But the market feel it for sure. And not only the markets, you feel it at home, right? So, the gas price are just, when I landed here, gas prices in Austria are I think €2.44 for a litre of petrol. It’s crazy. So that’s where you feel it at home.

Anita Mlakar: 11:51

Yeah, it’s a little lower in Slovenia. I think it’s 170. But you know, we’re climbing the ladder. So yeah, we are getting there.

Sandi Bitenc: 12:02

And unfortunately, until this gets solved, I don’t see really, that the markets will recover so much. It’s like, you know, the markets altogether are really bad. Except for the only ones I think still standing strong is real estate. And real estate is just, you know, because it’s so illiquid, it usually takes around like half a year before it comes down but if there is a recession also the real estate market will come down.

Anita Mlakar: 12:38

Okay, prices for real estate also here in Europe are just climbing and yeah, this should turn I think also, yeah.

About Token Launch

Sandi Bitenc: 12:47

Maybe also at this time, we won’t be waiting for a year or something like that to launch a token. So, the last day that we kind of need to legally launch the token is first of November. So that would be like the worst-case scenario, we would, we would launch it at that point. But also, we’ve been speaking and asking a bit to community and everyone kind of it feels like, it doesn’t make sense right now to launch. But we will need to launch the token soon and I just hope that the markets will recover enough so that we can get the token out in a good situation as possible.

Anita Mlakar: 13:47

Okay, not only community, also experts say that it is better to wait for right now. We did talk to some of them. We also had interesting guests who are exploring the market and they’re saying that this is probably the right decision, right?

Sandi Bitenc: 14:03

Yeah, right now everyone agrees, and we also don’t see any tokens really launching right now. It’s funny. So, whoever launches right now and has a, I don’t know a does a 5x on launch. It’s like, you know, super cool, super great. And if you’re in a bull market, if you don’t do at least 50x on launch then everybody is just like yeah, that’s really bad. It’s like, it’s quite funny. But it is how it is if there is no demand, and people are just leaving the space, so it’s hurting too much, I guess. All the channels that I follow myself. They have like less than half of the viewers than they usually had before. I’d say half a year ago.

Anita Mlakar: 15:02

Yeah, I saw cross commenting on telegram. And he said that not everything about the market going down is so bad. So maybe there are new opportunities to seek for and to invest. Now that the prices are a bit lower, so yeah, we have to find some positive things also, right?

Sandi Bitenc: 15:22

Look them for sure if you can afford it right now, to kind of dollar cost average, into the market at this moment in time, I do think it’s for all best times, doesn’t necessarily mean that we’re not going a bit lower still. But, you know, the downside at this moment in time is far smaller than the upside. So, the lower we go during the risk is getting smaller. And in the previous bear markets, we usually came down close to the previous bull market stops. But we never went below it, and we are now really close to the 2017 market. So, all the indicators kind of show that we should be bottoming out, but you know, there’s also the other thing that we never been in a situation in the macroeconomic level is we are right now. So now, I would also argue that we shouldn’t be here at all. And if the world wouldn’t happen, the COVID wouldn’t happen, we would probably be right now into probably the biggest raging bull market.

3air NFT Marketplace

Anita Mlakar: 16:44

Okay, Sandi now before we lose the connection, how are we doing NFTs and NFT market?

Sandi Bitenc: 16:52

So, we are still waiting for some African artists to send us over the high quality NFTs. So, at this point in time, we actually got only a bit, not the highest quality of images, and not the quality of the art, the just the images. So, we need to get the highest quality. And we’ll be putting that one out. So, we didn’t make any real announcements yet, but the marketplace is actually working. And there are a lot of NFTs up from Laura, and 3air. So, whoever wants to kind of support the project and Laura with her work, she’s doing really an amazing job. They can already go and buy NFTs.

Anita Mlakar: 17:50

Okay, Sandi, can you comment a little bit? What is going on in our communities? You were actually a part of this chance also, after our AMAs what is the feeling? What kind of questions are popping out? What do people want to know?

Sandi Bitenc: 18:09

Well, to be honest, things went also a bit quieter on our chats. So, I think we answered most of the questions. So, the majority is still about, you know, what’s actually the progress in Ethiopia and DRC. And we actually answered all those questions on the previous AMA, I think pretty good. With Dejan, the guys that are there on ground, doing the work, so but else it’s nothing that I would say like really specific or kind of problematic. It’s just a bit more quiet at this point.

When the market is quiet, is it the best time to promote 3air?

Anita Mlakar: 19:01

Okay, we have a bunch of ambassadors really good ones and they’re spreading the word of course about 3air. Do you think Sandi that this time, when things are a little passive and waiting for what will happen this is the right time to do promotion? To do marketing. To talk about the project more to prepare for it.

Sandi Bitenc: 19:28

So, to be honest, the prices of market are still high, they didn’t go down even before, you know, my opinion was like so overrated, but you just cannot get, you know, without it. But situation like this, you get less for your money to be honest. So, in that sense, I don’t think that it’s the best time to do a lot of marketing, but we are prepared for a big marketing push before we actually set the launch date. And that more right now we are cutting back just a bit on it. But we’re still doing, you know, the, let’s say the base level the necessary things, and the organic postings and content creation. But we’re not going into a lot of, let’s say paid advertising and those stuffs but we are still growing our waiting list. So, our waiting list right now is actually 30,000, names long like, that’s really amazing. So there still is a lot of demand for 3air. And I do think the launch will still be one of the best launches. I’m pretty sure because we need a bit of help from the general market and then it will be good.

Anita Mlakar: 20:55

There a question from Crypto Watcher and he’s saying I hear we start a new token sale. Is it true?

Sandi Bitenc: 21:04

No. We’re not doing any token sales anymore. So, our tokens are closed.

Anita Mlakar: 21:34

okay, we did have a little poor connection right now. Sandi, Are you near the border? Is that the reason?

Sandi Bitenc: 21:41

Yeah, I am near the border. So, I don’t think I am gonna be over the border for another half an hour for sure, as it looks like because everything is standing still.

Anita Mlakar: 21:57

So, you do have a lot of time to chat with us. We just need connection, right?

Sandi Bitenc: 22:02

Yes, exactly.

Anita Mlakar: 22:05

Yeah, Yjkbuddy is saying couldn’t hear anything.

Sandi Bitenc: 22:07

Today is going to be a working day even today.

Anita Mlakar: 22:26

Okay, Sandi now, please be so kind. And repeat that last sentence just to hear if we do understand you again, or this is really the connection that we cannot. Okay, now I think it’s a better picture too, let’s try again.

Sandi Bitenc: 22:42

Yeah, let’s try. So, I just said that. Today, even today, it’s going to be a working day for me still. I am meeting the K3 team after, in the evening, so hopefully I’ll be on time for that one. Hopefully, I’ll try and send a picture in Telegram.

Are there any updates regarding SKALE?

Anita Mlakar: 23:06

Okay, Richard is asking, is there are any updates about SKALE?

Sandi Bitenc: 23:13

No, not really but you will get firsthand information about SKALE on 29th. Can you hear me? Did this come through?

Anita Mlakar: 23:32

Did you say on the 29th?

Sandi Bitenc: 23:34

On 29th you will get the first-hand information from SKALE.

Anita Mlakar: 23:42

Yes, because we did announce a special guest, right Sandi? and all of the information will be revealed there looking forward to that.

Sandi Bitenc: 23:53

Exactly. I just remembered a cool fact I read in the last days. And I actually read that 22% of the working people in Africa are actually running their own business. So, Africa is really at the top of the entrepreneurship in the world. So that’s really interesting. And every entrepreneur needs an internet connection. You cannot do anything without it, right? No business runs without internet to be honest.

Anita Mlakar: 24:39

Yes, Africa is really amazing about that. They also say that they have strong community supporting you know, startups and young companies, entrepreneurs and yeah, of course what they need a strong internet. They say that some are really relying on that because that’s the only window they have to the world. And yeah, 3air is going to do that too. So, prosper the word of entrepreneurship, which is great.

Sandi Bitenc: 25:11

Yeah.

Anita Mlakar: 25:14

Okay, do you have any questions for Sandi, since you are here and Sandi is here, and we still do see him, and we can hear him. I did read some of the questions, of course, but if any other pops out. Yeah, well, Travelman just came in and saying, given we don’t have a token as yet. We were talking about the launch of the token in the last minutes. Okay. Travelman is saying, brutal crypto markets but nice timing for 3air.

Sandi Bitenc: 25:49

I would argue that this is not really the best timing right now for any token. Once we, you know, set the business open and start connecting people in Ethiopia, in DRC. If 3air is actually kind of in bear market, let’s say it like this. So, you know, even if there was a bear market, they’ll still be made, you know, a bigger one. So, from that sense, everything that I see, you know, it’s gonna be probably a mix from, let’s say, crypto and stock market, I think it’s going to be something in between. I don’t think that the token will like act 100% coordinated with the crypto market as usually right now, the tokens actually work. But let’s see.

Anita Mlakar: 27:10

Let’s see. Yeah, let’s see, because we don’t know what is ahead of us. And sometimes future brings nice things. And I’m sure it will be like that. But what is important Sandi, we’re continuing with this 3air project. And like you said, the last time launching the token would be the first of November, we will not be waiting any longer. But I have a feeling that maybe even sooner.

Sandi Bitenc: 27:37

This is actually the last date, I don’t think that we will wait so long. First of November, actually legally, we need to launch by then. So at least a few months away. But I also don’t see that as I said, June or July will be you know, the two months that we will be able to have a successful launch. So, it looks like end of August or beginning of September that the markets will allow for a token launch. But also, maybe speaking about the demand for the token, so because everything that we actually do is bound to the token. So, the more customers we get, the more demand there will be for the token. That’s 100% outside of the crypto space. And I think this can be a game changer because right now, everything that you see, it’s only bound to what is actually going on in the crypto space.

28:46

And I think that our tokenomics is really sound, so we have a fixed supply of tokens, we reduced the number of tokens right now from 1 billion to 830 million so it’s going to be less tokens out, so this also means that you know the value bread then over less tokens. So, I do think that’s a really good info. So, we actually decided to not sell in the pre-sale, all the tokens that we are holding, we will just burned them. So, this should give additional value to the 3air token launch. And also, when the majority of the crypto projects right now, they’re kind of, they almost have a fixed supply of people in and they’re just jumping from one project to the other and then their funds are just getting shifted from one project to the other. But what we’ll do is we’ll actually bring fresh money from outside into crypto each month so whenever somebody pays for an internet, there’s actually fresh funds coming, fresh capital coming into crypto space. So just think about it a bit. You know, wherever else you get fresh capital in on a regular basis?

Anita Mlakar: 30:21

I just thought of the question, Sandi, how are the investors accepting the situation, you know, they invest in the project not only in project like ours, but also others. And now it’s actually time to sit and wait.

Sandi Bitenc: 30:38

I didn’t get even complaint. So, I talked to investors a bit. So, investors, let’s say, they’re actually, you know, early token buyers in that sense. And I know, of course, it is painful, but they do understand the current markets and they just understand if we launch the token right now, it’s just gonna be bad for everybody. They also want a good token launch so.

Anita Mlakar: 31:18

Yes, of course. Richard did ask in between, why is that a legal issue? That is, Richard, maybe you could help us what you’re referring to?

Sandi Bitenc: 31:29

our entity the because the SAFTs are ending on first November. That’s why.

Anita Mlakar: 31:37

Okay, Richard, got your answer. Okay. Sandi, just to get a little bit. Oh, yeah. 1st/11th, Yes. Just to get a little bit in your personal life, a little bit. Just tell us please, how long will you be staying in Slovenia, because this is also going to be the first time Sandi that we are going to meet live. And I want to know.

Sandi Bitenc: 32:03

So, I think we’ll be staying here till about August, we didn’t decide exact actually. if we are first staying here for a bit more in summer, or we’re leaving on the second part of July. And that’s actually the cool part. If you have a job everywhere where you can just decide, okay, you know, we’ll just go there or there. The only really important thing is that there is an internet connection there. But we didn’t decide exactly. For sure, we’ll stay till mid of July, but probably will stay till first week in August.

Anita Mlakar: 32:53

Okay, then you returning to Dubai, do you have any other plans?

Sandi Bitenc: 32:58

We’ll probably go for a month or two to Bali. Dubai is just too hot. Going back to Dubai, probably in October. And so, there are two events, or actually three events happening in September and October. So probably be back in Europe in the middle of September. And then there is a big event with the African Chamber of Digital Commerce in Miami end of September. And I should be a speaker on both of those events. And then they will be one the that was I think that wasn’t happening for the last two years. So, it’s now after two years, is the first one. So, and that is the biggest event for Ethereum developers, and we will probably be there also. And that one is middle of August in Bogota. And then probably after that. We are going back to Dubai.

Anita Mlakar: 34:05

Okay, so it’s gonna be long vacation and interesting vacation.

Sandi Bitenc: 34:13

So, my life is actually like a full-time working vacation. So, it’s just you decide if it’s a vacation or work.

Anita Mlakar: 34:22

Yeah, by the way, Travelman agrees with you that investors are in for the long term. And August will be better.

Sandi Bitenc: 34:35

I do think that August will be better. Let’s see how things work out. If we see a drop in inflation, then August will be really good, I think and September. If not, then it’s up to the Fed to decide if they still want to, you know, go and fight inflation and kill the economy with it or they’ll just say, okay, we cannot do anything you know about inflation, and we’ll just try and support the economy as much as possible to make up for it. The problem with inflation is that the regular working people, they are getting less. And there’s also the other thing, so if the wages would be higher. And then again, you can kind of set off station in that sense.

35:33

But right now, the main priority as I see, it’s the US and they are the ones that are creating the macroeconomic factors, they are out, you know, like inflation is right now, a priority and the enemy number one. So, until that changes, I don’t see really a lot of things happening, but it is good that the markets deleveraged a lot. Let’s see, how much lower can it go. It needs to stop somewhere I was actually also looking at the NASDAQ and NASDAQ was really bad. I actually even think that crypto is this time holding far better against the NASDAQ, if that would be happening a few years ago, probably would be far worse.

Continuous communication

Anita Mlakar: 36:30

Okay, so Sandi, now one thing that we have to explain in such times when everything seems to be a little quieter, or going down or not so much is happening, what is really important is not to stop communicating. And this is what we are doing in 3air. And this is also what we are doing with these AMAs. So, they’re actually staying all the time giving the information, answering questions being here, being present. And this is what I’m talking about also when I’m because I’m working in PR. Also, there are many times some crisis situations or having a conflict, it’s always important to communicate. And I really think this is the right way because some of companies do stop communicating organizations, whatever project they stop communicating with people that are involved in this project, and this is what we are not doing we are staying here, right!

Sandi Bitenc: 37:29

Exactly. I was never even you know, I thought about not doing this. Even if we would be speaking alone here, I would do it. So, we are here for the long term. And now we want to support you as much as possible because they’re also supporting us. So yeah, absolutely. We’re going nowhere. And we’ll be here each week. And what you add, it’s it reminded me also for another thing that actually happened on Monday, you know, there was another big project running into trouble. So, this was Celsius. And that also was contributing a lot to, let’s say, the fear in the markets. And actually, today the fear in the market is at a record low again. So, it’s at seven, I don’t think that it was ever at seven so low. So, the greed index, so that’s really extreme fear. And, yeah, so Celsius on Monday announced that they are stopping withdrawals, so you cannot withdraw any funds from their platform any more. And they were like the private lending protocol, centralized in crypto space.

39:02

It’s also you know, another tough pill to swallow after Luna and a second big project that is being in trouble though. Now they also didn’t communicate really well. That’s why that actually remember about this one. Let’s see. Yeah, you’re right. You we will never so trouble or anything like that. So, in that sense, so it’s not a crisis or anything, but we are, you know, just we should have had our token out already. That’s you know, that’s I’m not denying it. But just to be fair, we would have. Everything is ready technically with everything. It just the market doesn’t allow it in that sense.

Anita Mlakar: 40:01

Because you’re communicating about it with people, we actually feel good about it, you know, and that is important. Because if you don’t get information, then you have your own predictions in your head. And you’re not sure about what is going on. And if we’re talking about it openly, if we’re discussing it and just saying how it is, and people get this feeling now we all know it is okay. And this is not only okay, but it’s the best possible solution. It was the right decision. And this is what we’re talking about all the time. And it’s a really good feeling.

Sandi Bitenc: 40:29

Yeah.

Anita Mlakar: 40:34

Let me just see what’s Travelman is writing.

Sandi Bitenc: 40:39

Maybe another thing that happened in the markets, just in generally in crypto, it’s the big problem was also Eth. Because Eth, they announced, again, a postpone of the hard fork that should have switched over to Ethereum 2.0. And now attending protocol, it’s called Lido and they give you for your stETH they give you as the stETH and there are a lot of product. Alameda research, I think they sold off a lot of stETH. Actually, should’ve be always the same prices as Ethereum. And they depacked and I think they went down below 0.9 to the dollar actually for stETH. So that was you know, driving a bit of fear in everyone because it looked like similarly then Luna did when they depack, but you know, they’re not a state people going or anything like this. So, it is actually a good arbitrage opportunity. And the arbitragers will step in, that’s for sure. Because once Eth is one to one. So that’s not a question. So, this will not happen. And there’s also a lot of talk that because of this actually solves liquidity problems. So, it could be connect, but it does influence you know, it’s Ethereum is the biggest token out. Influences the markets a lot.

Anita Mlakar: 42:25

Okay, here’s another question. First, the opinion the communication is super. Travelman says he surprised that there are not more people here on AMA. And the question is how many investors were there?

Sandi Bitenc: 42:41

So, from the private investors there are around 20 bigger ones. And then for in the pre-sale and those are not, you know, they’re actually when we did the pre sell of the tokens. I think there were around 500 People in. So, I don’t have the exact numbers, but I can look them up for the next time.

Anita Mlakar: 43:14

Yeah, we were talking about the whole time and AMAs were going on. How many people and at that time, it was fresh information. But yeah, Sandi like you said you will look it up if it is necessary. If there is any question, please do write it down. Sandi, is there something else we should add to this AMA?

Sandi Bitenc: 43:37

I don’t know if there are any questions, I’m happy to answer them, but I will be now around 200m from the border.

Anita Mlakar: 43:51

Okay, just explain. You’re on the border between Austria and Slovenia?

Sandi Bitenc: 43:58

Yes, exactly.

Anita Mlakar: 44:03

Okay. Travelman says, have a good vacation, rest and build - all the best.

Sandi Bitenc: 44:10

Yeah. I actually like to work to be honest. So, I do enjoy it. So, it’s, I really don’t need a lot of vacation to be honest. I like that I’m in control about my day. So, when I work and how much I work. But in the end, when I look then back, I always work far more than if I would be just employed somewhere.

Anita Mlakar: 44:42

Okay, so your life is actually vacation in a way.

Sandi Bitenc: 44:48

Yeah. I’m not complaining.

Anita Mlakar: 44:51

Just enjoying it. Okay, Sandi, we should invite everybody, of course to be part of our community on Telegram, Twitter, on Discord. We are actually very present also on our social networks on Facebook and I saw TikTok is actually pretty interesting so yeah be there too. Do subscribe to our YouTube channel. do recommend us to your friends, be here with us every Wednesday. Next Wednesday we will not be on at 5pm Central European Time but a little earlier I think but we will let you know on our communities we will write it down so that you will know when we are on, and you could join us. Sandi we are losing you a little bit with the picture. How is with the voice?

Sandi Bitenc: 45:42

I don’t know. Tell me, can you hear me?

Anita Mlakar: 45:45

Yeah, we can.

Sandi Bitenc: 45:46

Yeah, it’s gonna be worse and worse now so I think it’s a good time to stop.

Anita Mlakar: 45:52

Petra, enjoy your stay in Slovenia. Looking forward to seeing you both live and of course to see you here next Wednesday. Sandi, thank you all for being with us. Have a great day. Enjoy Slovenia Sandi. Bye.

Sandi Bitenc: 46:11

Yeah, we’ll see you soon in person.

Anita Mlakar: 46:17

Okay, bye.


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This is a transcript from our weekly YouTube live AMA: SPEAKERS: Anita Mlakar and Sandi Bitenc…
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July 20, 2022
12 min

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