Topic: Is Electroneum a SCAM??? - page 56. (Read 104927 times)

So you edited the post. I definitely think it is a genuine project. I have invested a lot in it and hope that they will release wallets soon

Who are you replying to?

i can say that we all make our due dillligence before entering one market.. we are responsible for our own investments and time

That was my understanding too. They said it will be the first currency you can mine on mobile but actually it's not the first, Minergate did it first on Android. At worst it's just a fork/copy of Monero - I mean that's a good start anyway as it's a solid codebase but copying something without improving or changing it seems pointless to anyone other than the devs (who happen to stand to make a lot of money as well).

I also want to know if it's actually real mining or if it's 'simulated mining' which is even more stupid - I've heard the latter banded about a bit. The whole point of PoW is, well, proof of work. If it's simulated this is like me walking around wearing a badge saying 'I'm rich and cool' and hoping people believe it...

They sell it as the "mobile cryptocurrency", as if you could use your phone to mine it, make transactions, etc. But this is untrue.

I have been watching Electroneum quite closely. It has got a great following and fanbase but there are many things I can't get my head round:

- all the issues around the launch and ICO with wallets hacked, passwords compromised
- it seems to be a clone of Monero's codebase with not a lot of changes other than 'you can mobile mine'
- on the mobile mining front they say they are first but actually Minergate was first lets you mobile mine XMR and it's near useless - I got about 14H/s on an SD810-powered smartphone, it's cool as a proof of concept but that's nothing, a low-mid range GPU (e.g. R9 270) can do 180H/s and that costs similar to the price of a similar mobile phone so who is going to waste their time and energy with that

To me it seems a lot like an ICO-get-rich-quick scheme. I am holding my breath and sent a bit of hashpower its way just to see what happens though. I notice a lot of people made a lot of money in the first few days... What's the current community consensus - from people other than those who have an interest in it going up because they bought into the ICO?

Before the issue it looks a good investment to me so i bought the pre ico sale but now it looks a totallt scam,they screwed hard.

Electroneum is a very promising coin.They will definately moon once they move in full operation and minning

I find it amazing that when one person does not get an instant answer - they call the ICO a SCAM..

Its not cool. Plus they are normally bounty guys.

There is too much about this project that makes me think it is scamming the ICO backers.

Look how this coin was launched.... Terrible.
HackerOne - They haven't mentioned working with them in their newsletter
HackerOne - The HackerOne page that references electroneum is user submitted
Github - Their GitHub does not look like that of an active legitimate project
ICO backers - It looks like that of a referral program. "click here and I'll discount 5%" - it appears the ICO backers are incentivized to sell the product
The claim that Electroneum will explode in value, but be 'like real money, cause you know, 2 digit placement" so if it explodes in value, will 1.00 ETN be worth around $1.00? Doesn't look like an explosion in value.... How the hell do people get fooled like this?
The Business Whitepaper - Junk! read it!
The technical Whitepaper - More junk!

This is just terrible, and fooled so many people. I fear that $40 million is simply lost. ICO backers got fooled.

I wonder what will actually happen to the ETN price with so many people fooled into this. Could I profit on their idiocrazy?

Its a good coin (XMR Fork) but being raped into a shitcoin, but smart people can make money off of it. Not the "I did a research and it's not a scam" smart people, the 'I know crypto' smart people.

Shame on you ICO backers, for not properly researching it...

Of course you wouldn't want to call it a scam because you have invested enough money to tell people to buy your bags.

Hi Guys...

....i have this information :

"I wouldnt bother mining this, Cryptopia is a scam and is the only exchange that accept this. My account on cryptopia got locked trying to withraw coins.If you are lucky and get withraws (doubt it) withraw fee is 25 dollars ... No support at cryptopia for 5 days, COINS LOST TO ME !!! MINE AND SELL ON YOUR OWN RISK !!!!!!

Im not sure, but I think I habe little questions about some other issius about Electroneum!"

This is from one guy...he post this in the Forum from Electroneum and was banned!!! After..........

I also hear this one....

""Just want to shout out to my mining friends.

Be careful with Hashparty.io. They are sketchy. I lost 20% coin from mining which I have never seen from mining other coins. I monitor mining very closely. All other coins I have mined are within normal difference range. But 20% is way too much. So I asked in their discord, and I was banned.

First time ever. I smell something very fishy. Be careful friends!""


What a u think guys?

and moment u can buy and sell only in Cryptopia!! but....IF you dont have any support AND / OR you lost all your coins.....hmmmmm I DONT KNOW what fucking i will think for the future!


A LOT OF IDIOTS and SCAMs with the new ICOs!!

No its not....  Study their road map,  and white paper carefully...

Electroneum isn't a scam i invested in it i am also holding for a long

totally agree with this, it has the potential to mushroom.
it will just take adoption and lots of it and there is no better way to have it adopted than to have the hungry for tech younger generation get into it.
and if they are being rewarded and can trade something easily its all win win for everybody involved

It seems that the electroniceum is very controversial, including its name and the total amount of financing for ICO.
I think it's too early to tell whether the Electroneum is a swindler project. Should I give it a development time, such as half a year?
But now, there are so many swindlers in the ICO market, there is still a lot of financing amount, but the development team is not enough, or the money is wasted, such as ENJ?

Good to hear! 

I agree. I was telling my son about the simulated  mining app/game and he told his friends in school. They're all excited about being able to earn a crypto currency (like bitcoin) and be able to send to each other through their phones, this thing could go super viral very fast.

They just need to get on one of the bigger exchanges and I think that things can turn around quick