Topic: Is Electroneum a SCAM??? - page 50. (Read 104927 times)
Those who are saying it's a scam, would you want your investment to be vulnerable to cyber attack? They are doing this to ensure security for our investment. Besides this we investors usually invest in the company and their products. So we should give the company enough time, freedom and our support to make the projects come to life.
Just because a legitimate company says they are working with someone doesn't immediately legitimise the entire operation.
There have been virtually no news updates from them, when there is it is literally 'marketing to the stupid' - as in, it's just things that just appeal to people who are die-hards and who think they can make it work just by willing it to.
I'm not saying it is a scam but they seem to be losing grip on this relatively delicate situation and you need the support of the community (especially in crypto), not just say 'we're working on it' and think that's a passable excuse when you have $40m of peoples' funds locked up (not mine by the way).
Also, obviously you believe in it, you're one of their main supporters on these forums, nothing wrong with that, but maybe then you can produce some evidence that shows it's all heading in the right direction? Just saying 'Hackerone' (which seems to be what most people are using to claim legitimacy) isn't valid. Something like the actual technical states of the wallets or the apps would be a good start, a technical background into how mobile mining/simulation is going to work and be managed (since it's not proof-of-work consensus) or even some technical background into how this isn't just a direct copy of Monero (which has a great codebase) with a name change?
There have been virtually no news updates from them, when there is it is literally 'marketing to the stupid' - as in, it's just things that just appeal to people who are die-hards and who think they can make it work just by willing it to.
I'm not saying it is a scam but they seem to be losing grip on this relatively delicate situation and you need the support of the community (especially in crypto), not just say 'we're working on it' and think that's a passable excuse when you have $40m of peoples' funds locked up (not mine by the way).
Also, obviously you believe in it, you're one of their main supporters on these forums, nothing wrong with that, but maybe then you can produce some evidence that shows it's all heading in the right direction? Just saying 'Hackerone' (which seems to be what most people are using to claim legitimacy) isn't valid. Something like the actual technical states of the wallets or the apps would be a good start, a technical background into how mobile mining/simulation is going to work and be managed (since it's not proof-of-work consensus) or even some technical background into how this isn't just a direct copy of Monero (which has a great codebase) with a name change?
I see your point. But think about it this way. What updates are they able to give, other than "we're working on it"? HackerOne is doing testing and will make a report available in due course - no sooner. So the Electroneum team doesn't have the details yet either.
And if they did, they surely wouldn't tell the world about the security loopholes that need fixing, because that will expose the inner workings of the system and invite additional hacking. An army doesn't share its tactics with civilians, because the enemy might be listening.
For now, their hands are tied. They can't update on the security of the system as mentioned above. They can't market the coin since the product is currently not working. They can't improve the system technologically because that would require HackerOne to start over. The could apply at more exchanges, but half-a-product wouldn't look good on the application form, either.
Right now all they can do is keep the social channels alive every few days and plan their marketing efforts. Nothing that deserves frequent updating.
Right - honestly I hope it isn’t a failed project and I am mining it with a small portion of my hashpower. I don’t think scam is the right word.
I see what you mean but given the tragic launch, I would probably expect meaningful posts every day or two not generic stuff or that merch they were pushing. There is still no technical stuff out in the wild and I am especially interested in how they’re going to airdrop currency for the ‘mining simulation’ without being centralised, while stopping phone emulation and devaluing all the people who are actually doing PoW consensus. I want to see how this differs to Monero from a real world point of view - we have enough cryptocurrencies, it can’t continue indefinitely.
Just because a legitimate company says they are working with someone doesn't immediately legitimise the entire operation.
There have been virtually no news updates from them, when there is it is literally 'marketing to the stupid' - as in, it's just things that just appeal to people who are die-hards and who think they can make it work just by willing it to.
I'm not saying it is a scam but they seem to be losing grip on this relatively delicate situation and you need the support of the community (especially in crypto), not just say 'we're working on it' and think that's a passable excuse when you have $40m of peoples' funds locked up (not mine by the way).
Also, obviously you believe in it, you're one of their main supporters on these forums, nothing wrong with that, but maybe then you can produce some evidence that shows it's all heading in the right direction? Just saying 'Hackerone' (which seems to be what most people are using to claim legitimacy) isn't valid. Something like the actual technical states of the wallets or the apps would be a good start, a technical background into how mobile mining/simulation is going to work and be managed (since it's not proof-of-work consensus) or even some technical background into how this isn't just a direct copy of Monero (which has a great codebase) with a name change?
There have been virtually no news updates from them, when there is it is literally 'marketing to the stupid' - as in, it's just things that just appeal to people who are die-hards and who think they can make it work just by willing it to.
I'm not saying it is a scam but they seem to be losing grip on this relatively delicate situation and you need the support of the community (especially in crypto), not just say 'we're working on it' and think that's a passable excuse when you have $40m of peoples' funds locked up (not mine by the way).
Also, obviously you believe in it, you're one of their main supporters on these forums, nothing wrong with that, but maybe then you can produce some evidence that shows it's all heading in the right direction? Just saying 'Hackerone' (which seems to be what most people are using to claim legitimacy) isn't valid. Something like the actual technical states of the wallets or the apps would be a good start, a technical background into how mobile mining/simulation is going to work and be managed (since it's not proof-of-work consensus) or even some technical background into how this isn't just a direct copy of Monero (which has a great codebase) with a name change?
I see your point. But think about it this way. What updates are they able to give, other than "we're working on it"? HackerOne is doing testing and will make a report available in due course - no sooner. So the Electroneum team doesn't have the details yet either.
And if they did, they surely wouldn't tell the world about the security loopholes that need fixing, because that will expose the inner workings of the system and invite additional hacking. An army doesn't share its tactics with civilians, because the enemy might be listening.
For now, their hands are tied. They can't update on the security of the system as mentioned above. They can't market the coin since the product is currently not working. They can't improve the system technologically because that would require HackerOne to start over. The could apply at more exchanges, but half-a-product wouldn't look good on the application form, either.
Right now all they can do is keep the social channels alive every few days and plan their marketing efforts. Nothing that deserves frequent updating.
is there any strong guarantee or clear proof of this coin that this coin is not a scam, i often see news about a coin that is rumored not scam but real scam. is there anybody can explain it.?
What would make you think its a Scam?
Hackerone just tweeted a few days ago that ETN is one of their customers, and they work with the US Department of Defense, Starbucks, Spotify, Blockchain.info, and Coinbase.
Not a scam lol
Just because a legitimate company says they are working with someone doesn't immediately legitimise the entire operation.
There have been virtually no news updates from them, when there is it is literally 'marketing to the stupid' - as in, it's just things that just appeal to people who are die-hards and who think they can make it work just by willing it to.
I'm not saying it is a scam but they seem to be losing grip on this relatively delicate situation and you need the support of the community (especially in crypto), not just say 'we're working on it' and think that's a passable excuse when you have $40m of peoples' funds locked up (not mine by the way).
Also, obviously you believe in it, you're one of their main supporters on these forums, nothing wrong with that, but maybe then you can produce some evidence that shows it's all heading in the right direction? Just saying 'Hackerone' (which seems to be what most people are using to claim legitimacy) isn't valid. Something like the actual technical states of the wallets or the apps would be a good start, a technical background into how mobile mining/simulation is going to work and be managed (since it's not proof-of-work consensus) or even some technical background into how this isn't just a direct copy of Monero (which has a great codebase) with a name change?
They have lots of updates. Primarily on twitter and facebook. The last Facebook post was 4 days ago. Fine by me: https://www.facebook.com/electroneum/
We know the (mobile) mining is basically an Air drop via a simulated mining app.
The last time I looked at the source code commits it was clear that the Monero hard fork was a copy and paste job. That tends to be how hard forks work so I don't see an issue with that. If it works why mess with it? The Monero fork was a little late in the day though. The whole release should have been put back a few weeks before the blockchain went live but we are where we are. Personally I am 99% confident the funds will be released (we are in Crypto land there is NEVER 100% certainty). Make your own mind up but I don't recall an ICO team that was more transparent than this one.
is there any strong guarantee or clear proof of this coin that this coin is not a scam, i often see news about a coin that is rumored not scam but real scam. is there anybody can explain it.?
What would make you think its a Scam?
Hackerone just tweeted a few days ago that ETN is one of their customers, and they work with the US Department of Defense, Starbucks, Spotify, Blockchain.info, and Coinbase.
Not a scam lol
Just because a legitimate company says they are working with someone doesn't immediately legitimise the entire operation.
There have been virtually no news updates from them, when there is it is literally 'marketing to the stupid' - as in, it's just things that just appeal to people who are die-hards and who think they can make it work just by willing it to.
I'm not saying it is a scam but they seem to be losing grip on this relatively delicate situation and you need the support of the community (especially in crypto), not just say 'we're working on it' and think that's a passable excuse when you have $40m of peoples' funds locked up (not mine by the way).
Also, obviously you believe in it, you're one of their main supporters on these forums, nothing wrong with that, but maybe then you can produce some evidence that shows it's all heading in the right direction? Just saying 'Hackerone' (which seems to be what most people are using to claim legitimacy) isn't valid. Something like the actual technical states of the wallets or the apps would be a good start, a technical background into how mobile mining/simulation is going to work and be managed (since it's not proof-of-work consensus) or even some technical background into how this isn't just a direct copy of Monero (which has a great codebase) with a name change?
is there any strong guarantee or clear proof of this coin that this coin is not a scam, i often see news about a coin that is rumored not scam but real scam. is there anybody can explain it.?
What would make you think its a Scam?
Hackerone just tweeted a few days ago that ETN is one of their customers, and they work with the US Department of Defense, Starbucks, Spotify, Blockchain.info, and Coinbase.
Not a scam lol
is there any strong guarantee or clear proof of this coin that this coin is not a scam, i often see news about a coin that is rumored not scam but real scam. is there anybody can explain it.?
This thread is a scam. LOL.
Electroneum is not a scam. I think the amount raised in the ICO was a surprise to them and their systems were definitely not up to scratch security (as they found out when hackers started to take an interest) so the ICO funds are delayed a month or so. Crappy and chaotic releases are unfortunately the norm for ICO's.
The problem was the block chain went live right before the hacking nonsense started so people can mine the coin but those with ICO funds just have to sit there and watch.
On the plus side they post regularly on social media and have been doing a lot of interviews to keep people informed.
Or is this post a scam? My sandwich I just ate was definitely a scam because it tasted like shit.
Electroneum is not a scam. I think the amount raised in the ICO was a surprise to them and their systems were definitely not up to scratch security (as they found out when hackers started to take an interest) so the ICO funds are delayed a month or so. Crappy and chaotic releases are unfortunately the norm for ICO's.
The problem was the block chain went live right before the hacking nonsense started so people can mine the coin but those with ICO funds just have to sit there and watch.
On the plus side they post regularly on social media and have been doing a lot of interviews to keep people informed.
Or is this post a scam? My sandwich I just ate was definitely a scam because it tasted like shit.
If you think that this project is a scam, then do not participate on it. Lazy managers, unseen spreadsheets, concerns that are not answered. Those are only some reasons that can be consider for a scam ico.
Yeah, you should observe first on what ico you are joining before applying in their bounty campaign. That is the only way to avoid scam because some of them might also not considerable to join the campaign because of the lazy behavior of the manager.
Simply put, yes, Electroneum is a scam.
People trusted them with $40 million dollars and all they did was sell their own coins at launch while holding back ICO investors from accessing their wallets. From 2000 satoshi to 300 satoshi now. Sheesh.
People trusted them with $40 million dollars and all they did was sell their own coins at launch while holding back ICO investors from accessing their wallets. From 2000 satoshi to 300 satoshi now. Sheesh.
Electroneum is not a scam!. I believe we all know what prompted the slow pace of the coin. The best option for everyone here is PATIENCE!. I know electroneum will surely recover and stand strong!
I don't think that it is a scam. Granted the Android App doesn't work but from everything that i've seen/read online about it the coin looks like its alright and not looking like it is a scam.
I really believe that it is not a scam...
ANN thread is dead, everything is dead on that coin. Scam.
They've just locked to avoid the spread of fuds they have hired hackerone, to fix all the issues, if this is a scam they will not hire the service of hackerone and hackerone will have nothing to do with Electroneum so let's give them a little more time they cannot make an alibi like this for a whole two months.
Maybe. But if I had $40m in raised funds I could still engage HackerOne and have a hell of a lot of that left over while I plan an exit strategy.
I don’t think they’ve been open or particularly transparent either - posting the odd vague and non-technical update isn’t really what people had in mind (well, it might be enough for some).
ANN thread is dead, everything is dead on that coin. Scam.
They've just locked to avoid the spread of fuds they have hired hackerone, to fix all the issues, if this is a scam they will not hire the service of hackerone and hackerone will have nothing to do with Electroneum so let's give them a little more time they cannot make an alibi like this for a whole two months.
I do not think that electroneum is a scam, they've faced many difficulties but they've been open and transparent about them, I think in time they'll solve these issues and move forward to being a great success.
YES
Beware of anything like electroneum. I have only heard bad things about it. Most ICOs/Altcoins/Forks are just outright scams dude. Do not pay attention to them, seriously.
Beware of anything like electroneum. I have only heard bad things about it. Most ICOs/Altcoins/Forks are just outright scams dude. Do not pay attention to them, seriously.
ANN thread is dead, everything is dead on that coin. Scam.
I think that it's a scam to be honest. They might stay alive long enough for people to pump then dump the coin though they will not use that $40 million on the stuff they were talking about.
most of times it's too late when people discovers that is a scam!
my concern about electroneum is how a smartphone can mining without consuming a lot of power!
my concern about electroneum is how a smartphone can mining without consuming a lot of power!
It's a simulation (lol), no seriously, they're going to simulate mining but not actually do it. That's how they get around 'mobile mining', as you will recall MinerGate launched a mobile miner that could do XMR a while ago and it did actually exist and work (but slowly). It also means centralisation as their servers have to hand the tokens out for each connected user. And make sure someone isn't emulating tons of phones on a computer. But they couldn't protect their website from a DDoS attack on launch day...
Ethereum is not a scam because as you can see that a lot of people are in ethereum and they are all holding and buying ethereum because they believed that ethereum is a something that can follow the foot steps of bitcoin and be one of the most popular coin in the market and to the whole world.
Electroneum is definitely not to be confused with Ethereum, even though for a cynic, someone would say the name was deliberately similar... Ethereum is obviously an excellent blockchain with a great community behind it and some very promising technology. Electroneum is currently mostly a Monero clone with some mobile vapourware and flowery claims about what it can maybe do 'sometime soon'.
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