Topic: [ANN][ICO] ⚡ Electroneum ⚡ Token Sale Sept 14th Mobile Mining Crypto Coin - page 217. (Read 315206 times)

So there are a lot of confusions about the Electroneum many people are saying how can it is possible through the mobile phone for mining. I think mining always need special hardware equipment where it will lot of to mature the coin. So, I am in confusion state whether to move forward or not.

The mobile mining experience does not download a copy of the blockchain or carry out intensive CPU operations
to provide egalitarian proof of work, it is intended to give entry level access to a cryptocurrency by allowing the
experience of mining (i.e. being issued a hash rate reflective of the CPU processing power of the device and being
awarded coins for participating in the experience). The Mobile mining experience does not directly add blocks to
the blockchain and thus it does not overheat the mobile device or use precious bandwidth. The CPU of the device
is periodically queried to ensure the simulated hashrate is correctly balanced with the other running processes and
it gives the user a very realistic mining experience, including accurately issuing Electroneum coin rewards.
The issued Electroneum coins are true Electroneum coins, the same as issued by the Windows, Mac and Linux
full miner. The Windows, Mac and Linux full miner does download the full blockchain and operate in a fully
decentralized manner.
The mobile mining experience has been designed to yield rapid user growth. These users will be encouraged
and likely to take advantage of the significant mining speed and coin emission improvements of mining with the
Windows, Mac or Linux GUI miner, which will enable Electroneum to grow to huge user numbers via the app,
whilst still retaining a significant mining community running the transactional blockchain by running the intuitive
Windows, Mac or Linux application.
The centralized nature of the mobile app will also allow Electroneum to perform transfers of Electroneum via the
contact list in the device, rather than using lengthy public keys which are currently required by all decentralized
blockchains. Those public keys still exist and can be used but a simpler, more intuitive way of using cryptocurrency
is envisaged.

Man, I keep seeing people complaining about "mining" on the phone. ETN isn't going to be "mining," but simulating what mining feels like. It's going to calculate the computational power of your phone and allocate coins appropriately. In essence, you will not be actually mining on your phone. Your phone won't be handling the same load as a desktop miner. Your battery won't get depleted fast. It won't burn up. It won't degrade your phone. It puts as much strain on your device as loading a Wikipedia page is. The main miners will be on the PC. The return with "mining" on your phone will be dependent on the amount of people utilizing the app. There will be a significant increase in the pool because of the leftover tokens from the ICO will be distributed accordingly. This is to promote viral growth and get people into it earlier, rather than later. If a million people start using the app and mining, it's not going to return the same amount of coins forever. The 21B cap of ETN won't be mined for YEARS.

Also, people complain about the amount of tokens overall, which is 21B. Now, that may seem like a lot, comparatively speaking, but it's not. Most coins use multiple decimal places. For instance, Bitcoin uses 8. However, ETN will only be using 2, in order to feel like a real world currency. So the amount available to purchase is significantly less than Bitcoin, from what I'm aware.

It is open. But don't be fooled by the mobile mining gimmick. Because it's not real mining. It's supposedly just a coin distribution / airdrop scheme. You can't mine anything with mobile phone hardware, not with meaningful speed anyway.

It give's an mining experience. It doesn't directly add blocks to to chain.
 These users will be encouraged and likely to take advantage of the significant mining speed and coin emission improvements of mining with the Windows, Mac or Linux GUI miner

Seems people expect every ICO to lose money.

Man I cant wait for the Post-Ico price. I am going to get an enormous discount.

This will be huge IMHO!

I am wondering whether it's worth investing in the ICO when the distribution will be small compared to the total amount of coins that will be distributed freely on mobile apps afterward.
21 billion in all and how many given to those who have invested 11 millions $ in the ICO?
All the people who will get their coins for free will dump them on those who spent their money in the ICO.
I really believe they are not really generous with the people who invest into their business.

I talk and go wherever I want.  In fact, I just came across this ICO by following a twitter link and found this project interesting and was going to invest a few bitcoins in this.
But after doing the maths and seeing how poor the reward was for the early backers I expressed my opinion which seems to be touching a sensitive spot in you. Thanks for your kind words, I won't come again in your thread as I would rather stay away from people like you who take pleasure by insulting others.

Than stay out of the ICO, and MORE IMPORTANTLY OUT OF OUR THREAD with your weak ass attempts at FUD.

I would expect higher level deception coming from a Supernet Supporter. Talk about losers. After that,  I take it all back. You couldnt see a real project if it hit you in the face

Yes, you may be right but they should give some numbers so we could figure out. Also giving all the unsold tokens freely to miners puts more pressure on those who invested into the project. For instance, if 1 billion coins are mined in a year that will be like a very high inflation rate for the first investors.