Topic: Is Electroneum a SCAM??? - page 28. (Read 104937 times)

I don't think that it is a scam.

First thing, this is one of the best posts about ETN I personally saw so far...

I started to mine ETN sometimes around a month ago and I wasn't aware of the "community" around it simply because I don't consider myself as a "social" person :) I have no Facebook, no Twitter, no Telegram or whatever else exists nowadays, so I never checked this kind of stuff. The research I made was mostly around the team and code...

Later on, I was searching around web for some answers regarding ETN and I realized how much "hype" there is around ETN. I went around to see what's the reason for this hype and unfortunately I found NONE. At one point, honestly, I was a bit afraid of this community because they seem like brainless sheep just repeating the "moon" phrase for no reason at all. To make it even worse, I came across few topics here on bitcointalk and got a bit disappointed with seeing how many "problems" lay around and (apparently) no one is solving them... Just in last couple of days, I keep hearing about "marketing" and yeah, now it sort of makes sense... I am reconsidering my mining activities as we speak ;)

Marketing is not only ETN's problem. Marketing is a problem in general. Unfortunately, I've been that route too and in one moment of my life I was actually producing TV commercials, so I am very well aware that marketing is nothing but a pack of lies. However, I just cannot agree that just because some "team" or "company" invests everything in marketing and nothing in R&D is a "scamming company" or "scamming team". We humans deserve to be treated like this because we, and only we are allowing companies around the world to sell us shit, wrapped in pink and glittery paper. ETN might be exactly the same shit (actually excluding glittery paper) but whoever was stupid enough to buy this pack of lies (starting with myself) is to be blamed himself, not the ETN team.

Unfortunately, at this point there are 2 options for people who are involved with ETN:
 - keep "trusting" the team and hoping for the best,
 - get out of ETN involvement completely and forget about it forever because it's just pack of lies (a.k.a. marketing)

Which one you will choose is only up to you. You are the one who has to make conclusions and decide about this. People who don't know how cryptocurrencies work or don't know nothing about "anonymous mining on your mobile phone for which you are paying monthly subscription on your name with your credit/debit card" would be fooled with any other coin, not only ETN, I mean, just look at the Bitconnect :)))))

In the end, I'd like to classify Electroneum as a "shit packed in pink glittery paper" rather than a "scam". At least for now :))

All fair enough - I assumed you were just jumping down his throat as I've bought up points before and the disciples of ETN just turn up and try to shut you down with playground insults rather than answering the issues. The fact you took time to explain says a lot.

Well, on the one exchange thing - Electroneum, their team and rabid followers are always telling us how it's the biggest ICO ever so they are not short of money, getting listed on an exchange would be one of the first things I would do alongside not getting hacked and securing things. I mean they marketed it well, but then they are a marketing firm so that's what you'd expect.

Yes but your chocolate analogy falls apart. This isn't like Milka chocolate and Galaxy chocolate which are totally different make-ups and ingredients, this is like Milka chocolate and someone copying the ingredients identically then calling it something else but with better marketing. ETN is nothing more than a direct copy of XMR - the team have nearly no blockchain experience and while there's nothing wrong with forking a coin like that, they could at least stop pretending it's so revolutionary when most of that 'revolution' hinges on mobile mining, which it turns out is a) a simulation, b) centralised and c) not available yet.

But yes, I'll say it now and I said it before, it's not a scam, at least not deliberately or maliciously but I think they are way out of their depth and it may just fall off a cliff if they don't sort these basic issues out. We can't change the title of the thread so that's kind of that. So maybe not 'scam' but 'shitcoin' is a better term for this.

I would also address a rather big point that people keep glossing over - they keep saying, 'yes but the ETN team are still vocal and active' and that's because their ICO funds are locked for 12 months, I am half expecting the interest and speed of updates to fall off pretty fast when they work out they can escape by cashing in quickly. Also, many of the ETN supporters don't have the first clue how cryptocurrency works - if you airdrop it through 'mobile mining' this centralises it, and if tons of people are mobile mining but comparatively few are actually mining (you know, the thing that secures the network) then it's going to groan under the strain; it's one thing to have tons of users, but another to have tons of users doing nothing but overloading the network.

P.S. I didn't say I bought the coin. I haven't bought any so I haven't had to use Cryptopia, I've mined it all

P.P.S. to the guy who 'read the white paper' - it's total shit. It's just glossy marketing designed to fool idiots, it doesn't explore or explain any of the technical hurdles or challenges.

Well, although I didn't come here to answer him at all, I actually managed to answer his last question: "Is this a problem with Cryptopia or #ETN?".


Couldn't agree more... However, getting listed on exchange is not easy, nor cheap... Actually exactly the opposite, pretty hard and very pricey. Not being listed on more than 1 exchange doesn't mean that coin is a scam. Hope we can agree about that.


Most of the stuff in this (real) world are a "copy" of something else. With a different package. And yet, you, like the rest of the world is buying it. I personally don't see that XYZ chocolate is a "scam" just because Milka had chocolate years before XYZ and there's nothing revolutionary about it even though they are marketing it as a "revolutionary" chocolate.
People who thought (or still think) that Electroneum will make them rich "easy" and "quickly" are just stupid. There never was and never will be such a thing, at least not for majority of world's population.
Still, however, this doesn't classify something as a "scam". Can we agree on this one too?


Again, I completely agree with regarding this.
I didn't expect people high-fiving each other on this topic, I came with one reason only, to reply to the post I replied to because I have noticed the same post on a different topic and I couldn't resist to put my 2 cents here and try to explain some things which should be more than obvious. I apologise for that and I admit that I made a mistake by coming here completely.

You are completely right when you say that people have "valid issues", but in my eyes, at least the topic title is misleading, because literally each and every "valid issue" has nothing to do with "scamming people". No one got scammed yet, as far as I know. People have lots of questions, lots of confusion, they are impatient, have problems with Cryptopia, but why labelling something as a "scam" then?


100% agree :)

I've read whitepaper electroneum. I am sure his future will be bright. so do not ever say that electroneum scam, because this will fly to the moon soon.

You haven't answered anything he even asked - your argument is ad hominem...

And yes, one of the biggest problems they have is that despite having a large market cap (mostly because everyone is too busy high-fiving themselves about how amazing and 'revolutionary' this coin is) is that it only has one exchange - why have they not made getting listed on other exchanges? Maybe, I dunno, during that month when they shut everything down and locked the wallets?

There is no 'idea' behind ETN, it's just Monero with the promise of mobile mining - which in turn has interested people who probably shouldn't be playing with crypto in the early days because they clearly can't afford to and just think that it's an easy way to get rich.

Try addressing the valid issues people have with this rather than just attacking the individuals and maybe it'll have some credibility. Also, don't come to a thread called 'is Electroneum a SCAM' expecting everyone to be high-fiving each other and saying how amazing it is or are raising valid concerns not allowed now?

My disclaimer - I don't think it's a scam and I do hold ETN, I also think it's incredibly mismanaged and over-hyped; but that doesn't mean I won't try and make money off it.

Hey dude, you definitely spend too much time shitposting about ETN.

If you don't know how to use exchange, that's not the problem of ETN.
If you don't know how crappy is the exchange you are using, that's not the problem of ETN.
If you lost your money because you were not aware how crappy the exchange is, that's not the problem of ETN.
If you cannot exchange this currency anywhere else except on the crappiest exchange there, well, this is STILL NOT the problem of ETN.
If you don't understand the idea behind ETN, that's also not the problem of ETN.

However you seem like a person with LOTS of problems, so I'd suggest you to either visit your doctor or your drug dealer.

Please man, learn how to use Cryptopia first. Research all the problems they usually have with other coins and how to avoid them. Research about requirements for the coin you want to transfer there and only then transfer it, so you won't forget stupid payment ID. And for the sake of the common sense, please stop shittalking ETN without any reason. If you personally don't like it, just move away, no one is forcing you to participate in anything, really...

Why not sell on your coins at 12x the ICO price now and move on to something else?

That doesn't mean anything at all. It just means people put money into it, just as the price is speculation and hype and doesn't equal 'value'. Just look at the collapse of BitConnect...

Of course, people holding the coin want it to do well but probably shouldn't just think if they believe hard enough it'll happen.

Electroneum is not SCAM. I think electroneum is one of altcoin with good future for holder. Because Electroneum is one of the altcoin with most investor.

Whoa there! Watch out - if you say anything bad about ETN on this thread, all the shills come out and tell you you're lying, making it all up or trying to spread FUD. To be honest, I had forgotten about one pretty mediocre exchange being the only place you can trade it but now you mention it that's a really bad bottleneck - I really don't like Cryptopia either, the UI is really fussy and it doesn't work on mobile properly.

Hope you get it all sorted.

Day 23 will be 1 month I'm hoping to credit a deposit made from my wallet to Cryptopia. This happened to me and with several users and already a fact of knowledge of many users of this Thead.

I could say that it's just Cryptopia's fault. I could accuse them of SCAM, but they are an exchange used daily by several users of several currencies and I think the problem is much bigger.


Have you noticed that #ETN is the only crypto in the top 50 that is listed in only 1 exchange? 

This is not normal.

Why no other exchanges listed a currency with more than 700,000,000 in Market Cap?

It is a project full of holes and dishonest promises like "mobile mining". Electroneum is just a clone of Monero. If someone invented an app to mine Monero on the smartphone, why would you choose to mine Electroneum?

I do not believe it's possible to mine Monero on a smartphone. It seems to me that this is the kind of promise made to deceive users.

Cryptopia has responsibility too, I know.

But adding all this up with the problem we are facing here, only 2 possibilities comes to mind.

1 - The team of #ETN had no idea where they were getting into and ended up creating a product that does not work and only arrived where it arrived because of the Hype and the Tweet of John MCAfee and now do not know how to solve the problem.

2 - The project is a scam from the beginning. 

Cryptopia and Electroneum urgently needs to say why deposits and withdrawals made correctly with all correct data have not been credited in your account users

Is this a problem with Cryptopia or #ETN?

This is a question that needs to be clarified as soon as possible Or wait for another Bitconnect very soon!

But they've collected millions of dollars in their ICO, and they dare pay signatures with BTC, I'm not sure if electroneum is SCAM ICO.

This seems like a scam to me i didn't want to believe, so i invested i feel like im losing money cause bitcoin has skyrocketed since i invested in this scam.

They will have our coins locked up for more then a month while the price either rises or fall. i should have known, a 50% bonus was to good to be true.

Because all the paupers who want to get rich off a shitcoin without any real work won’t be able to do that with a proper coin like Monero and then they’ll also tell you that it’s all about ‘mobile mining’ and free airdropped currency - at least if they tell enough people they’ll start to believe it and then the hype fuels further hype.

https://github.com/electroneum/electroneum
This branch is 76 commits ahead, 940 commits behind monero-project:master.

It's a branch of Monero, which has much more github activity, so why not just use Monero?

I read this and thought, 'I agree', then realised it was because that was exactly word-for-word what I said about two months ago?! As in, I wrote it! So do you agree or just quoting me without quoting?

Noway, etn is my favourite coin

Sold DIME for a really nice and lucky profit (maybe a little early but acceptable for Newbie)

Now waiting for a good point to come back to ETN again