Topic: Electroneum - Britains first crypto opinion (Read 1480 times)

Well there's more than that. There's also getting electroneum integrated with mobile apps as payment method for special features and being able to be transferable from one app to the other incentivizing developers to integrate this coin. Also something with gambling but i'm not aware of the details on that.

I know that many people are really into this coin, and I respect that. However, I am trying to be sceptical, especially when somebody is offering a new "revolutionary coin" that will dominate the market. There are really a lot of those kind of promises in this industry, so you have to be extra careful because of that.

Personally, I do not believe in mobile mining - maybe they will prove me wrong. Nevertheless, I think it is a buzzword. It won't be economically beneficial enough. My phone is getting hot and has significantly lower battery time even without mining anything on it.

What is more, after reading the whitepaper my impression is that there is a lot of nice formatting and marketing talk. Yet, there is very very little real content there and no description of valid business model.

In current state of the project, those are a No-Go for me.

Agreed. They've really made it easy for anyone to mine. You can mine on the desktop with your CPU just by installing the program, choosing your pool from a drop-down, and clicking a button!

The mobile app should be launched pretty soon too. There it's even easier to mine since you don't need a paper wallet.

So they're really bringing cryptocurrency to the masses that had no clue before.

This is similar to what Steve Jobs did to computers, or what Bill Gates did to operating systems - made them easy to use by the general public.

Electroneum is one of the next big crypto.... There mining programs is good and best.

Just an update...

Electroneum has become wildly successful after the last post to this thread.

Although there was a huge security attack on the Electroneum servers just prior to the blockchain launch, the team has locked down the ICO coins so that they can improve the security of the system and make sure no coins are stolen. They have now called on Hackerone to participate in testing the security of their system. The ICO coins and mobile mining app will be launched in 3-4 weeks time.

Despite this security glitch (which to me just confirms the apparent value of this coin), it reached the following milestones:

1. It has reached it's $40 million cap a week before the planned ICO ending.
2. More than 120,000 people bought into the ICO, and more than 400,000 accounts have already been created.
3. The app has been downloaded more than 100,000 times already.
4. The hype has been spectacular - more than 27,000 people in the Telegram group (Telegram had to up their max group limit), and "electroneum" has more Google searches than "monero"
5. The blockchain was launched successfully.
6. ETN was listed on Cryptopia within days of the blockchain launching and has consistently been in the top 3 coins by 24-hour trading volume.
7. The coin has reached a high of $0.23 on Cryptopia (ICO price was $0.01) before dropping to between $0.03 and $0.04, awaiting the release of the ICO coins and mobile mining app.

This coin has done exceptionally well in spite of all the security challenges.

I strongly recommend you buy now at Cryptopia while the price is still low, because ETN is going to the moon!!

ETN might reach ~1.2B sold under the ICO period.

It's going really well !

Sorry bud, you got fed hype and screwed.  The dev said in the youtube interview that at best people would see a $3-$5 monthly gain with the fake phone mining so I figure the real rate is somewhere around 75-80% less for the average person.  I'm not sure how expensive your bill is but I'll assume it's more than that. 

This was the first ICO I invested in.  Put in 2 ETH the first day the ICO went live.  For me, 2 ETH was a huge step forward in investing in crypto.  I spent two months researching ICOs and I was down to either Electroneum, Cindicator, or Chainlink.  In the end though, I chose Electroneum because I really do believe that mobile mining can become viral, especially when their marketing focuses on a message along the lines of, "Run the app, mine the coins, make enough to pay off your phone bill each month."

A side note on hype though, I remember there were like two or three people hyping the ICO here on bitcointalk like CRAZY, saying it will sell out in a couple days, jump in on it now and all that.  Maybe, even after all my research, I was swayed a little...

I do not know about that, this project looks good but you are right when you say there are many projects that have nothing and yet they have a fantastic campaign that hype the forum so much that people cannot stop to think about what they are investing, that is why there are so many scams, instead of reading the white paper and think about the project most people invest on hype.

We advice every single person on our telegram to hodl, because we want them to believe in the project investing. This isn't some sort of quick-buck coin. This is for the long term, and to change the whole market; especially bringing in a lot of new people for the benefit of all cryptos.

So it is just now that Britain has its own currency? I guess they took so long to issue that since the split of its nation. Well i guess monarch would try to have there own blockchain too just like ETH. If that would happen then it could be the next country that has there own that is recognize around the world market?.

Yup. Look at bitdice ICO, that bounty hunters once they received their tokens starting to dump their coins once it is listed on HitBTC. So the price goes down a little after starting a good price. I have observed this to a lot of ICO as well specially once they got listed, there will be a good pump then th dumping continues. So I might as well wait how things will go before getting Electroneum.

Have you read how the mobile miner is functioning? It is allocating coins to the user when the user runs the app, based on a twin algorithm; that way you cannot add blocks to the blockchain with the mobile mining experience (Hence the experience - it is sort of a simulation). It will never be profitable to run a botfarm with phones at all compared to desktop mining in this coin.

It's certainly not Britains first crypto - memory may be failing but feathercoin, piggy, gamecredits, britcoin etc etc

How do they intend to make phone mining sensible or worthwhile? Miner will get cracked and will be done by botfarms making mining for phone users a nonsense. This happened over and over starting with quark and on to the cryptonotes.

This is a very good point. Unfortunately a lot of cryptocoins have problems with the rich getting richer (whales). Coins like this give an opportunity to reduce world inequality, which would certainly be a great thing.

Just another altcoin trying to target a HUGE amount of people, breaking down the barriers to the general users that bring more money into the market and more demand? Just another coin that educates people on crypto instead of referring them to here spending weeks trying to climb that steep learning curve? Even another coin that finally let you mine on your phone without damaging it? Just another altcoin that will let companies monetize the exit and entry steam of people inside the games? Just another altcoin that lets you mine so easily on your computer that everybody can do it; with a point-and-click to mine interface on the computer? Just another altcoin targetting the people without a bank account, who will be able through easy and fast transactions to make micropayments? Just another altcoin that prevents whale-mining, ASIC-mining and levels GPU/CPU mining to make it fair for the ordinary user? Just another altcoin that can long term make every single coin worth more?

Just another altcoin? Yeah sure.

I think that electroneum project is all about building hype on our forums. Sadly I don't see it going anywhere. It is not unique or better project to me. Just another altcoin. But I will still wait which markets they are gonna launch on.

Don't want to seem biased, but this looks not seriously. I don't think this idea will take off, I think it's just hype.

I also like the concept and the possibility to mine directly in the wallet and that they concentrate on mobile payments. Seems to have a good potential and the team seems to be very professional. Although I don't think that price will x1000 (like some guys said here in the forum), it still has potential to x10 or x20 in my opinion so I participated in the ICO after reading the white paper on their site.

Here is a code that gives you 1% extra discount on the tokens (additional to the 40% they currently give):
https://my.electroneum.com/join/4B52AC

Let's get this one started! Could be the next big thing.

I bought a few hundred worth of electroneum, not just because im in the signature campaign but when i research about the company the holders are known people( i always look on to that to avoid the pump and dump). You can also see the concept of the coin and what are the future plans. When buying altcoins i always treat them as a stock i always research if it has potential and electroneum has a lot of it.