Topic: Is Electroneum a SCAM??? - page 4. (Read 104926 times)

It would be a decent project but it's spearheaded by an inexperienced yet egocentric team. Richard Ells has little credibility even outside of blockchain, and none within. It's probably not an intentional scam, but the way it's being pumped today, it has real Ponzi-like qualities.

maybe people who say fraud is the one who feels the loss in this project, but some people say this is a very good project, so in my opinion this is a form of disappointment for the person who is disadvantaged from this project ... sorry if I'm wrong ...

Many cryptocurrencies and Ico are scams that pretend to be blockchains!
Because ico's financing model is very trendy, and now there is a lack of supervision, many scammers are going to swindle money!

It is a lot of different stories about this coin. One people say that it is SKAM others on the contrary that it is very good project. Time will show

Yes most of ICO are fraud after collecting the money they will disappear and dont deliver atleast a product luckily i have sold all my etn.

I’m on your side. I don’t really believe in it, all the stuff Ells says are things that sound amazing and ‘for the greater good’ on paper like helping the unbanked. I don’t mind speculating some funds this weekend but I am concerned about the wallet locking as someone else pointed out this last time there was a pump. I’m in crypto long-term and projects like this always bother me but it doesn’t mean I won’t look on with interest.

It is good for insiders and speculators, I'm not one of them.
I'm more likely supporting cryptos for their mission and not to get easy lambo.
Good luck to you, but careful. This looks to me a bit of a Chaincoin event 2.0 

I wouldn't bother. They've pretty much entirely changed the White Paper so what held true at ICO doesn't any more. At the moment, there is some hard pumping going on so if you have a healthy risk appetite, buy some coins and cash out for some easy profit.

Not sure about this. One needs to check the Ico in detail.

Wasn't that done ages ago? The wallet upgrade? Can you not migrate to a paper wallet? I'll admit, this whole price spike caught me off-guard somewhat and some 'whales' are taking responsibility for it (not that an actual whale would normally brag about it).

I was reluctant to call it that but it does have a bit of a whiff of a Ponzi right now, money flows in, FOMO hype carries it beyond the money they put in, they cash out, price drops but support is above what it was, rinse and repeat - when they get bored or had their fill it's only going to go one way. And they can do this because the daily trade was so low before - you can't do this with Ripple (for example). When I submitted a buy order it was enough to bump the price 2-3 sats instanteously earlier. Then there was also the spike to 328 sats down to 170 back up to 210 all in about 15 minutes.

Thanks for bringing this to my attention, I was about to send a load of BTC over and ride it this weekend, but I'm not sure I will now. I really hope you get it sorted though - good luck.

I think, many of the ICOs are scams, so the worries expressed here are legit. Maybe the important question here should be: is it wise to invest in Electroneum?. This is my opinion , sory if i wrong, i just give my opinion

Most likely this is fraud, you need to spread your information as it seems to me!

My ETN account says:

We'll be back soon
We are currently migrating your wallet to the new instant payment system.
Please try again later.

What a joke. Suddenly 10x of the normal volume appeared for no reason whatsoever. Accounts randomly blocked with the message above so people can't sell their coins.
So the price only go upwards during the giant pump - nothing to counterbalance.

Not talking about the fact without KYC verification I won't be able to send my coins from my ETN wallet.
When I bought and mined my coins it was an anonymous crypto. Couple of months later I can't send my coins without providing personal details.

This is not a real cryptocurrency.
It's a centralised ponzi scheme.

It has traded sideways, it hasn’t gone down but even with big developments it hasn’t gone up. I’m honestly in this for the short-term, I believe the fan base can pump this a bit and that’s enough for me to extract some profit. If you look at any exchange you will see the market depth charts show there is enormous sell volume to overcome, no whale is going to come and save you guys, so rather than just talking it up I suggest you put your money where your mouth is and buy ETN to improve demand.

Maybe not you, but the ETN collective, are a toxic bunch, if it’s not positive, it’s FUD - this is ‘bury your head in the sand’ syndrome. If you say something you don’t like in a moderated thread you get banned. The ETN dev team is still weak, with the funds raised in ICO they could have hired world-class blockchain devs but they cut corners for whatever reason.

So, why would I buy more? Because I think there is enough hype in the pipeline to give it a little perk short-term but long-term I don’t think it’ll survive. Ells will get bored, mining will get unprofitable, whatever happens, the roadmap just isn’t inspiring - it looks like something someone in marketing would write.

Feel free to come join in the discussion on our ANN Thread

https://bitcointalksearch.org/topic/m.45905800

LOL WHAT? "Unbanked people"  they must have some kind of identity card, whoever they are, in any case. It works just like this. No documents = no guarantees.

I don’t think so that Electroneum is scam, it’s correct they take some time to finalize everything.
There was some communication gap between team & investors, but right now coin is in market & community is growing.
Electroneum is in top 100 coins & having a handsome market cap.

I find your take on ETN interesting, but just dont see some of your points, but thats ok.

I wouldnt think you would buy more ETN at your current assessment, so that leads me to belive that I need to try harder to understand your point of view. Its not like we are against criticism, because if we can see something wrong, thats the first step to getting things fixed.

I do think you should update your perceptions regarding the ETN DEV Team due to recent developments? No?

Hopefully, with the speed of things seeing an uptick, along with witnessing promises kept, your outlook on ETN will continue to become more positive.

But if you are buying ETN at these prices, you are a winner in my book  






*BIAS ALERT** Iam not a neutral mod or admin, as I am the ETN Community Manager

Never invest more than you can afford to lose, and do not mistake my posts as investment advice

I already got this in an email, no idea why you re-posting it in ENORMOUS letters to make sure it couldn't be missed. I, honestly, find it hard to take anything you say seriously - you guys just preach to people who already think they're onto a winner and won't listen to any negatives, why keep telling fanboys what they already believe? It's not going to $1 and it's not just me who thinks the team are a massive joke (Ells couldn't even run a marketing firm and just fancied having a play with blockchain). You claim 'we're gaining users', what users? People downloading an app then not even bothering to run it doesn't count, shall we count empty Bitcoin wallets as well in that figure, anyone can manipulate numbers. To me the only important figures are the active miners who are actively running the app and that's below 100k at the moment anyway so 2 million users who aren't doing anything? Brilliant. What about the rubbish trade volume and the giant sell wall on exchanges, it's gonna take a hell of a lot of money to overcome that and all the hodlers and fanboys certainly aren't going to because most of them are poor and live in this delusion cloud that ETN is going to make them rich - let's not beat about the bush, this is what they're waiting for, they don't care about the technology anyway - they just think it's a short-cut. And the unbanked thing, Christ, you'd actually believe that some idiots who have money in ETN think they're being charitable, it's nothing, it's another marketing ploy to win over idiots - no-one believes this is going to work for the unbanked or actually be used for that reason, some might use it but it's not a solution, it just sounds nice on paper.

Finally, you have Instant Payments, which is mildly interesting but it basically transacts all through ETN's central servers (notoriously unreliable) so they're just a bank, great, just what crypto needs... another bank and another 'trusted' third-party that I don't really trust.

Yes, I actually bought more ETN the other day with some spare Ethereum on the off-chance Instant Payments pumped the price but literally nothing changed, I'll keep it short-term then I'm getting out of here. Contrary to what fanboys keep telling me: 'must be why I'm bitter and negative', I wasn't dumb enough to buy it at ATH or anywhere near it, I am still up so that's just fine by me.

Hey Invicta,


You might want to check out our thread, theres a lot happening:





RICH ELLS:


Hi Everyone!



I have some big news...



A year ago we had a vision of creating a cryptocurrency that is so simple to use and acquire that almost EVERYBODY can access it. We focus on the 99%, where everyone else is focussed on the 1%.



Easy access for users was the first step and we've now had over 1m app installs and we're proud to say the Electroneum app has the same retention level as Instagram (®)!



The second step was going to be harder to achieve, and it's taken us nearly a year to deliver it, but it's now available for ALL users and global vendors!



The Electroneum Instant Payment API system for Vendors is now open and in BETA.

We've made integrating cryptocurrency payments ridiculously EASY. Normally, cryptocurrencies are inherently difficult things to integrate into tills or ecommerce systems. Blockchains are not like databases. Their decentralised nature means they do some odd things, like allow a transaction with a VALID TX ID to be rejected later by the blockchain (hence the requirement for blockchain confirmations, which take time), they are very s-l-o-w compared to database systems, as it takes time to reach consensus.



Electroneum has combined instant transactions and ease of integration in a single system.

We have made integrating Electroneum as easy as integrating with Stripe (®) or PayPal (®) by creating the first cryptocurrency with an API interface for payments. Every web agency in the world understands integrating API interfaces, but hardly any understand blockchain. Even better, our system is truly instant. Our API gives an INSTANT notification to the vendor (shop or online store owner) that the payment is on the way. The vendor is assured of the payment, which allows instant checkout. The user can walk out of the coffee shop with their coffee, or the user can checkout online (buying their airtime top up for instance) without having to wait for the blockchain.



The system has been live and open for Beta testers for less than a week but we've already seen some impressive integrations and integration into the largest Point of Sale software in Egypt



Professional integration of easy payments & pro video skills! (ETN Academy)

https://vimeo.com/289924878



Largest Point of Sale software system in Egypt (we forgive the slightly less professional video - as it's a HUGELY important step for ETN)

https://www.youtube.com/watch?v=G9kfftkWJy8



ETN is now the FASTEST and EASIEST cryptocurrency!

Electroneum is now the EASIEST cryptocurrency in the world to integrate (via our vendor API) - and it's also the FASTEST cryptocurrency payment system in the world!



eCommerce Payment Gateways on the way...

We are working with a number of generous users to create instant payment integrations for the most popular shopping cart systems including Woocommerce & Magento. We are also looking for experienced coders to create ETN payment gateways for Opencart, Omnipay, Drupal, Jigoshop, easydigitaldownloads & more! We will keep you posted.



Would you like to be part of the instant payment Beta test?

If you have an online business, log in to your https://my.electroneum.com dashboard and click on VENDOR SETTINGS in the menu. Click ENABLE BETA ACCESS to get started! There's no delay, you'll have instant access.



Integrating Instant Payment API

You will find instructions for integrating the BETA program via our new community forum:

https://community.electroneum.com/t/using-the-etn-instant-payment-api/121#top



If you need any help - feel free to reach out to the community or our team via the community forum:

https://community.electroneum.com/c/api-developers



Phone 2 Phone instant notifications

Currently any transaction between phones gives an instant notification to the receiver that the ETN is on the way - but the receiver has to know it's coming and click 'refresh' to their in-app notifications. We know that's not ideal, but it's only temporary to allow us to get this live API in to BETA testing. We are rolling out PUSH notifications in October 2019, which will allow the receivers phone to notify them that ETN is on the way EVEN IF THEY DON'T HAVE THE ELECTRONEUM APP OPEN!



Electroneum Advertising Starts October 2018

Now our API is available and KYC (know your customer) is announced we are starting a large push for additional partners, agents, and vendors.



We have a plan for October to start recruiting additional MVNO Mobile Operator partners, as we should have our first MVNO accepting ETN payments by or during October. A live partner will demonstrate to others the benefits of partnering with Electroneum and open the door to far more.



We will target vendor acquisition through a targeted ad campaign and use our Mobile Operator partnerships to bring on an Agent network.



October will be an exciting month!



Electroneum Promoting YOUR business...

Don't forget we'd love to promote YOUR business to our large audience of users and we might choose you as a showcase partner to be included in our wider advertising and promotion. Just get our instant payment API integrated into your shop or online store and we'll help get the message out.



Have a great day everyone,



Richard Ells

Founder, Electroneum.com








Remember
It is not a "fact" that those who see $1+ ETN in the future are "mental"

The team may be running slow to you, and you have the right to feel that way about the rate/speed of growth, but most would disagree because we are still gaining users faster than Facebook or Twitter did their first year.

True there have been delays at times over the first year. After checking out the email sent by Rich above, does this help raise your confidence in ETN?

This is fast enough for most, but many apply "crypto time" to this project, and I would compare development speed at REAL TIME.

You still holding on the that stack of ETN??