Topic: Is Electroneum a SCAM??? - page 34. (Read 104906 times)
It's one of the successful ICO, currently on the market giving good mining profits too.
I thought electroneums crown jewel was the mobile mining.....so what is electroneum actually good for?
Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.
In theory it sounds okay.
You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.
The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.
I think the only point of the mobile simulated mining is to introduce people to crypto in the easiest possible way without having any knowledge (thus mass adoption) 99% of the population wouldn't know where to begin getting into crypto, let alone doing real mining. Their aim is to give everyone a little bit of crypto (through the sim miner) to get them into it and show them what crypto is. I do think this is a smart way to get a lot more people into cryptocurrency than the current coins on the market. They are too difficult for most people to obtain, and they don't want to put in the effort to find out. I think ETN could be beneficial to all cryptocoins eventually. Once people get into it, they will automatically start researching other coins. ETN just makes the barrier a little lower.
And are the mobile mined coins not premined coins that have little to no effect on the blockchain? (correct me if i'm wrong i'm quite new to crypto)
Yes, good point. In fact, as I've said before, ETN was my intro into crypto too - I bought BTC to make a small investment in the ICO. (so thanks, messed-up launch, for my small portfolio of BTC that has earned me waaay more than my ETN has!
) Once the ICO got messed up I started learning about other coins, and learned very quickly about the weaknesses of the ETN model. So perhaps the app will achieve its mass adoption and bring many users into crypto - but that might translate into a win for crypto, and possibly a loss for ETN as newcomers who do make the leap into crypto will prefer to spend their money buying other, more promising coins.
I do not think it's a scam because yesterday my friend could exchange his coins and he gets a considerable profit.
Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.
In theory it sounds okay.
You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.
The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.
Exactly. And just stop to consider, for a minute, how miniscule the amounts of ETN each phone app would most likely receive, in order for this program to be feasibly carried out. Maybe you'll get an initial mass adoption and excitement, but such is the human attention span that once people realise they are doing all this for the equivalent of a percentage of a cent per day or so... they will likely lose interest and move on to the next 'big thing'. Like all those faucet sites for BTC, etc. Even if you started out with them, how many of you still actively log in every day to play?
That's why so many people are hesitant to invest large amounts - there is doubt that ETN can sustain this hype
I am also thinking if I should or shouldn't buy into Electroneum. I see the price dropped a little, so it might be good opportunity, but will it go lower?
So this thread has literally been answered now then ... No ... No, Electroneum is not a scam! End of thread 
I still see a few people that aren't convinced lol. I've always felt it wasn't a scam, but rather poorly executed.
So this thread has literally been answered now then ... No ... No, Electroneum is not a scam! End of thread
Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.
In theory it sounds okay.
You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.
The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.
I think the only point of the mobile simulated mining is to introduce people to crypto in the easiest possible way without having any knowledge (thus mass adoption) 99% of the population wouldn't know where to begin getting into crypto, let alone doing real mining. Their aim is to give everyone a little bit of crypto (through the sim miner) to get them into it and show them what crypto is. I do think this is a smart way to get a lot more people into cryptocurrency than the current coins on the market. They are too difficult for most people to obtain, and they don't want to put in the effort to find out. I think ETN could be beneficial to all cryptocoins eventually. Once people get into it, they will automatically start researching other coins. ETN just makes the barrier a little lower.
And are the mobile mined coins not premined coins that have little to no effect on the blockchain? (correct me if i'm wrong i'm quite new to crypto)
You cant really judge a book by its cover. Look at ETN now. it already doubles the investment of the people that ventured into it. And it could bebalso going to triple their profits by next year
Double?
Now the current price is 6 times the ICO price. ICO price was only 0.01 dollar and now Electroneum is being traded at 0.06 dollar in cryptopia. The price will much higher when it is listed in some other exchanges.
You cant really judge a book by its cover. Look at ETN now. it already doubles the investment of the people that ventured into it. And it could bebalso going to triple their profits by next year
Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.
In theory it sounds okay.
You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.
The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.
This project could have been great. The team destroyed it by not delivering their promises. I still think is a good coin, but it could have mooned right from the begining with a proper plan.
Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.
In theory it sounds okay.
You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.
The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.
no i think electroneum is absolutely scam,you can see at electroneum price.
ETN price fall about 50% from original price, most of ICO always happen at that wayso i think that is no big deal to said it will SCAM
i think i will read more because some of my friend already mined it
We cannot say if electroneum are really scam, right now the investor and the bounty hunter cannot received their token in the electroneum website wallet it said that the balance are updating hope our token will update soon.
The price are down so high but I think this not normal because the bounty hunter never received their reward so who responsible for the dump happen?
The total number of coins promised in the bounty program was by 20 million, which is but a drop in the bucket compared to the 5 billion coins sold in the ICO. So once the bounty hunters receive their coins and dump them, it won't really make a difference in the price.
At the current price, all bounty coins would come to about 68 BTC. There are more than 300 BTC in buy orders currently on Cryptopia.
Closer to 200 BTC, actually. And mostly in the really low, low registers ( I would know, my buy order is there too!), because the only way I'd consider buying back into the coin at the moment is if the risk is low enough for me. Because I think the volumes of interest in the coin bode well for it, but I also think the team have shown time and time again that they aren't equipped to function well at the level of the 'big boys'.
Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.
In theory it sounds okay.
Im not sure but electroneum is on hype now for reason I still don't know I see so many people interested in buying ETN in social medias lately.
I wonder if these poeple who thought it was scam from the very begignning changed their minds.
I don't think so Electroneum is scam. It's normal that many people will many comments negative and positive. I have seen myself about it. But I bought myself some coin. I believe it's not scam. It's really good to see that they are fill full their terget before ICO campaign. It will be clear after 1st November. no i think electroneum is absolutely scam,you can see at electroneum price.
ETN price fall about 50% from original price, most of ICO always happen at that wayso i think that is no big deal to said it will SCAM
i think i will read more because some of my friend already mined it
We cannot say if electroneum are really scam, right now the investor and the bounty hunter cannot received their token in the electroneum website wallet it said that the balance are updating hope our token will update soon.
The price are down so high but I think this not normal because the bounty hunter never received their reward so who responsible for the dump happen?
The total number of coins promised in the bounty program was by 20 million, which is but a drop in the bucket compared to the 5 billion coins sold in the ICO. So once the bounty hunters receive their coins and dump them, it won't really make a difference in the price.
At the current price, all bounty coins would come to about 68 BTC. There are more than 300 BTC in buy orders currently on Cryptopia.
No-on claimed responsibility for the first hack. Second time round they blamed Amazon, didn't even try to accept any responsibility themselves, it's always someone else's fault.
And no, this isn't helping 'noobs', there are some pretty important aspects of cryptocurrency that you all seem willing to ignore: private keys for your web wallet, who is validating the network and how many people still can't get into their accounts. And how come no-one has spoken up about the fact that in the help section there is just one article? Or how 'mobile mining', whenever that turns up, isn't actually mining at all.
It's no surprise you want it to be big as an investor but you really should think about these important questions rather than all-round defence.
And no, this isn't helping 'noobs', there are some pretty important aspects of cryptocurrency that you all seem willing to ignore: private keys for your web wallet, who is validating the network and how many people still can't get into their accounts. And how come no-one has spoken up about the fact that in the help section there is just one article? Or how 'mobile mining', whenever that turns up, isn't actually mining at all.
It's no surprise you want it to be big as an investor but you really should think about these important questions rather than all-round defence.
I know I'm a little biased being an early investor myself. But I really think this coin is destined for great things, granted that the team will be able to pull it off.
Private keys if the app wallets are handled by the Electroneum team, just like exchanges handle the keys of coins they receive. They are encouraging people to withdraw to paper wallets for extra security.
The network is validated by the wider mining community. The app is just an easy tool that submits transactions tot the blockchain. You could do it all before using the command line wallet, but the app just makes it so much more user friendly. It's basically doing to cryptocurrencies what Steve Jobs did to computers - prepare them for use by the masses.
Mobile mining was never advertised as real mining. It was always a mobile mining experience and a simulation. The coins are distributed to participants for helping to advertise and market the coin, not for securing blockchain transactions. The fact that the team can pull of the entire mining thing remains to be seen. Let's hope they don't stiff it up...
I wonder if these poeple who thought it was scam from the very begignning changed their minds.
Jump to: