Topic: Is Electroneum a SCAM??? - page 62. (Read 104937 times)

You seem very sure of it.

Would you mind sharing your "research" with the world?

I did a research already and it's not a scam.

HAHAHAHHAHA

you noobs and your empty IT systems, how often do i have to tell you not to gamble with those?

https://coinmarketcap.com/currencies/electroneum/




when will we see electroneum reaching 2 cent barrier?


HAHAHAHA  

I don't know if it is a scam or not but here you have a video of 3 november explaining what's going on....from the video it doesn't seem to be scam
https://www.facebook.com/afzal.ahmed83/videos/10214401757178878

The team is pretty good, so I will recommend to you to invest . Always look at the team, pal. They are the ones who are important

I suggest that you need first to know the altcoins you want to buy, for you not repent later. Nowadays, several altcoins are deceiving the crypto market, so we must doublecheck the sites and their project as well.

They should also do their homework on the false claims by the founder.  His "successful" companies are anything but.

I totally agree with this. Investors should understand their investments. It seems that most of the people who bought Electroneum were just carried away to invest because it was the talk of the town and now they are crying because they cannot sell it on their expected price. It is only normal that the price of coin will drop few hours or days after the coin was introduced to exchange sites due to massive dumpers. Just HODL your coins and believe on it. Wait and have patience.

The problem I see with much of the ICO space is that the people investing are often times not even savvy investors and the people running the ICO's run the gamut of being professionals to professional scammers. On the investing side, it's often times a bunch of kids that own zero other investments whether it be stocks, mutual funds, real estate, businesses, etc. They throw their money at hype and like lemmings, simply invest in what is getting the most attention, often times getting their info from their favorite youtube pump and dumper who get more coins themselves by having their followers click their referral links. They then turn around, sell their tokens and move on to the next pump and dump. Cryto currency and ICOs are the wild west. There's little to no regulation and very few safety nets for investors. If people don't know how to do their own research on a particular coin or token, and are unable to analyze what they're even investing in, they should come back at a later date when they do.

As for electroneum, I found the whitepaper questionable. The whole catch to this particular ICO was the mobile mining. Upon further inspection of that claim I saw that the miner was "virtual" which was suspect to me immediately. Virtual mining to me sounded identical to just turning on a printing press and printing out fiat currency. Again, marketing. That was simply to create hype. Will that miner eventually put coins into people's wallets? Yeah, probably but so what. If they take zero actual hash power to create, then their overall value will reflect that.

The second thing was the amount of coins. 21 billion is a lot of damn coins. I'm not saying thats a deal breaker, but from the whole "virtual mining experience" to the max supply of minable coins, I don't think the people behind this project really understand the crypto space. I think despite owning whatever other companies the CEO owns in Britain (and the profits of those companies have been brought into question multiple times thus far), when it comes to the whole blockchain and crypto space, these people are amateurs.

Admittedly I threw a total of $30 at this, give or take, big deal. I do however know others who threw in tens of thousands and higher on other forums. After analyzing the project myself I just didn't have much faith. I appreciated the idea of mass adoption by 2.2 billion smart phone users and all, but I didn't think the team behind that idea would be able to execute it properly. I unfortunately think they bit off more than they could chew here, but hey I hope I'm wrong. I hope the coin does find adoption somewhere and that it brings crypto to the masses. I just doubt that will ever happen given what we've seen thus far. At the end of the day, at least its not Paragon coin lol.

To be quite frankly, I agree with your worst case analysis, it would be a third hypothesis about the team's manifest incompetence in dealing with the overwhelming success of the fundraising campaign.
In any case, we just have to wait a little while to see what happens.

Hmmmm.  with me then comes this picture

This means 1 of 2 things, neither are good:
- He lied about the success of his companies (it was even questioned in the Financial Times)
- He is good at hiding money offshore (his so called profits)

If it's the latter I wonder where the ICO funds will be funneled to.  Either way both situations are bad situations for ICO backers.

A quick look into Richard Ells' other companies on Companies House (UK company registry) shows that none of them make enough money to have to file detailed accounts.  Every single one of them.

He lied to everyone from the beginning.

Proven by who exactly, have you been summoned yet to the regulator? or will that be the next thing that happens?

And if it were to one day be "proven" it isn't a scam, you'd only be proving that the team do not have a clue what they're doing.

Not so great is it. Don't bother defending a sinking ship, you'd only look like a fool.

You can login to their site. Just reset your password. I've logged in dozens of times on both the website and mobile app hoping I can already transfer my ICO purchase. But alas..

The aggressive marketing really fooled a lot of people including me. Electroneum is a joke. It's only a fork of Monero and the electroneum developers can't even fix a simple wallet.

Either they are extremely incompetent or they are just greedy pigs who are dumping their pre-mined electroneum before everyone else can.

can i log in again on the electroneum website with my email and password and see if the token are still there and were not stolen ?
or is it not possible yet? I do not dare sign in there without releasing

You realise this is just a Monero fork? Richard actually called the mobile "miner" (simulator) state of the art in that video of someone visiting their little office in Kent. That is just laughable.

They haven't brought anything new to the table and their development team look like a joke.

They are either completely and utterly incompetent which they could well be if you look at that team, or they are scammers and are just selling off their tokens while locking everyone else out of their wallets.

Close to $5 million dollars in volume traded in Cryptopia so far.

I don't understand how people can be put off that easily. Electroneum is still a great project and one of the few where mass adoption is being addressed in a very creative way. The mobile mining experience is basically a marketing thing to hook people on. The max number of decimals is two which also isn't a necessity but a creative feature because people are putt of by paying like 0.000000023 shitcoins for their coffee. The blockchain itself is state of the art in that it allows anonymous transactions and has high transaction speeds. I see a lot of good things.

The security precautions, of course, should have been thought of way before the blockchain went live. It's surely not the typical ICO-experience where the investors can sell a share of their coins in the first few hours at high prices and then buy back when the price comes down again. With the price being now only around twice the ICO-price, all the people that missed out on the ICO can buy ETN for long-term at a very cheap rate. Usually, when you miss the ICO, you pay much more for the good coins. I personally would have loved selling a batch of my coins at 23x the ICO price within the first hours of trading and keep the rest for long-term. But the fact that this chance is missed due to the security precautions doesn't make ETN a shitcoin or a scam.

No idea what you are trying to say here.

I have mining and pool already paid, but no wallet work.

I tried on Centos, sync and Zero balance, Ubuntu Zero balance,also tried on Mac still Zero balance and last tried wallet cli on Windows, Zero balance.

Somebody please tell me that I'm wrong, or anybody same like me?