Topic: [POR]⚡ELECTRONEUM⚡Official Moderated Thread - page 170. (Read 240363 times)

Quick comment on the latest QA

First of all, it takes some balls, for a live, and by the looks of it, unscripted session.

My final impression was, like in the start and Richard also mentioned it, that this project was an experiment and almost a victim of its own success. And the team is open to admit, that the tech side of the coin is not their strong point, just following monero every step, no desire to make any tech revolution in blockchain technology, enough other companies.

For real world use, no one really cares what blockchain is. They developed a cool way of coin airdrops, which is becoming more and more popular. The important fact is, that the air time providers will get a provision from introducing the coin to their users, because their margain is very low, and any income helps.

Considering, that there is no real marketing yet, the adoption is going on nicely. When the legal matters are finalised, the airtime providers will start texting their users and promote the coin.

As for mobile mining, it is designed to mine a couple of dollars per month per user, for the next 14 years @10.000.000 users.

About ASIC mining, it doesnt really matter who mines tbe coin, they will just follow monero, which is best thing to do, they are much better in other areas, then BC tech.

Apple is not yet in favor of crypto, they also had a bit of a fiasko in that area, so the delay is reasonable.

I like the "lightning" idea for purchases, because monero network is never going to be fast enough for instant payments.

Again, they used and abused the blockchain bandwagon for a very good idea to access a whole new way of marketing, promotion, and reach to users.

I hope it all makes a bit sense

It's not just ETN though, it's the entire crypto market. Nothing is going to perform extraordinarily in the current bear market. ETN is young, nobody should be expecting instant gains. Not going to happen. Its likely that investors will suffer further losses, no matter what you invest in right now. Good news etc won't make much difference. When the market improves, ETN should also improve alongside it.

Hey guys, any ideas why the price is plunging?
Every week comes good news from electroneum.  team working on ways to incorporate ETN to pay for airtime, etc.

Thank you for the tip!

For CPU mining, you can mine Unitus. It is easier to mine than ETN.

I've tried to mine btcp but I only have CPUs so for me it is not worth it. But btcp is a good investment.

Other tried mining btcp then it was not profiable to they switched back to mining other coins and then investing in btcp. I am curious what other coins they've mined.

Using CPUs I mine coins from here: https://easyhash.io/
Not using that pool, only the coin info. And moving from a coin to another if one depending on network hash rate. If total network hash rate drops for a coin then you can mine more of those coins.

how come the tokens from the smartphone miner on my wallet? does this work automatically? or do I have to send the token to the wallet? And does a certain amount of token have to be mixed in before I send it to the "mobile wallet"?

I don't think the price of ETN will get lower because new ETN are being created by miners. Because the miners are getting less and less ETN. They may also lower the ETN reward for the mobile app. And as more and more people are going to have ETN, the price won't decrease, but may increase. If ETN is really used by millions of people, ETN is going to be worth more money.

I am mining Bitcoin Private. It is not actually profitable, but i think the price may increase if Bitcoin price increase too (ETN may increase too). A lot of people are mining it now. Are you mining a coin now? And what coin?

This is like mining in early days. But if it will hit a mobile phone critical mass (many people getting coins via mobile app) then the following thing will happen: daily airdrops will get you no coin (maybe fractions of a coin) or in order to satisfy the demand - new Etns will be generated and that will lower the price of existent coins (like inflation for fiat money). So this is not sustainable.

About the last paragraph from what you said, I agree with you.

Just out of curiosity what coins are you mining (if it is not a secret) ?

I have launched the mobile mining app since 2 weeks. I received a little more than 31 ETN. They did sometimes accelerate the distribution of ETN. Maybe i can get 2.5-3 ETN each day. That's not bad compare to mine ETN with CPU. You are going to get less with CPU mining.

I am mining other coins for the moment. At start, ETN was very profitable to miners. But now it is difficult to get some profits.

Yes, i understand the concept of ETN. It is to distribute ETN to a majority of people. So they can understand how crypto coins work. And also make ETN a real money. People are going to be able to buy real things/services with ETN. They won't need to convert it into fiat money. It is going to be used firstly by the unbanking.

I've tried.
With an Amd FX 6300 you get 270 Hs/s which is 8.06 ETN / day as of right now and sometimes is a little bit lower, sometimes is higher, and you use 95 Watts/hour.
With an Ryzen Threadripper 1950x you get 1.3 KH/s which is: 38 ETN/day and use 225 Watts/hour
With a Ryzen Threadripper 1920 you get 1 KH/s which is: 30 ETN/day (sometimes goes to 25-28), I don't know the exact power usage but it is lower than 1950x.

If you want to know the precise value go here: https://etn.crypto-coins.club/ and type your hash rate at section "Estimate Mining Profits".

If you want to know the cryptonight hash rate of a specific CPU or GPU but you don't own that hardware, go here:
http://monerobenchmarks.info/
It is for monero but the same hash rate works for Etn too, it's the same algorithm.

If you can mine other coins easier, then mine those coins and then trade them for Etns (but just don't do the trade on Cryptopia).

Airdrops are good to make a coin known at the beginning. And maybe later from time to time but how many coins can be given away to all mobile owners? Those airdrops have a purpose to make the coin well known, not to get you rich.

How many coins do you guys think you will get from air drops?

I think you didn't try to mine with a real computer. It is now very difficult to mine just with a CPU.
You won't mine anything. Maybe 1 ETN with a gaming laptop with CPU mining. With GPU, with a Nvidia 1080 GPU you are going to mine only 13 ETN. And their should be a block found on the mining pool, else you get 0 ETN.

It is easier now to just get the ETN mining app running in the background on your phone to get some airdrop. Also there is no chat in the mining app for the moment. There is only an access to the wallet. The thing which may eat a little more your battery is that you need to activate your wifi or 4g. But that's all. The app doesn't need a lot of ressources as it doesn't do anything. It just do a refresh sometimes. And there is no advertisements (for the moment). But you need a not too old smartphone to be able to get ETN faster.

The mining in the app is deactivate for the moment.

Why would you mine with mobile phones? A brand new smart phone battery does not survive more than two days and that is without any mining on it. Old days are gone when you had to recharge your phone once a week or once per two weeks.

If you really want to mine for 5 years and get some coins just put a ryzen desktop in your closet, even a cheap one. Or use an older second hand amd fx 6300 which gives you 270 Hs/s.

There's lots of crap installed on a mobile phone including chat apps that eat battery fast, you really don't need a miner. Also some smart phones will throttle the cpu to save battery so your miner will start with 15 Hs/s and will go to 3 Hs/s which is useless. Other phones can be incredibly hot when mining. And trust me on this, you don't want your phone to catch fire in your pocket.

We need phones with better batteries and without bloatware, we don't need to charge the phone every day. At least until wireless charging is available on all phone but even then for people who travel often this won't help.

If you draw the line how many coins you've gathered you realise the trouble and wasted time does not worth a mobile miner but a closet computer.

Even if you build yourself a wall with second hand android phones and tablets that mine for you, you will realise that power consumed is the same as just one desktop, but it's much easier to just maintain one computer then your mining wall wirelessly connected to the internet.

And if you argue a mobile phone consume less power than a desktop computer then just buy an Asus Thinkerboard or an ODroid (which has 8 cores) or even a Raspberry PI and mine on that. You can even run that small board on solar power if you really care about power usage.

A mobile phone is the perfect solution for a good crypto wallet (that does not keep the entire blockchain on the phone of course). That could be a phone use for, not for mining. Or an alert app that tells you when your Etn coin goes up. Or even that tells you the status on mining on your desktop with history. Or a mobile phone trading app, simple and clean. A feature for the mobile wallet to pay to a nearby phone via bluetooth. Maybe you have other ideas too, there's lots of things that could be done on the mobile phone better than mining.

And I am not saying a mining app for mobile phones should not exist. If I had 3 old phones in a desk drawer I would use that app to mine on them. Just please don't mine on your mobile phone you use for making calls .

The project is certainly excellent, but it did not meet the expectations of investors. The price of the coin does not increase, it is not a good indicator.

Look at it this way guys

Mine contstantly for 5 years.

Take those coins and see what they are worth at the price in 5 years.

If Electroneum is successful in its plans, which I believe they will be, in 5 years that will be a decent size amout of cash.

Think in 5 years the total crypto marketcap will be so much I wont even say it, as it will make most doubt my intelligence.

ETN IMO will be a top# 3-5 coin.

The value of what you are mining isnt amt of ETN x todays price, but the price in 5 years if you wait until then to sell.

All you have to do is keep it running in the background for 5 years and HODL until then.

I promise you it will be worth the couple seconds per day.

The mobie mining is exactly what I expected and you will see the number grow.

Think long term, as thats what the devs are doing.

They could have blown through even 10% of the cash they got and everyone would be high-fiving each other all over the place.

The trick to marketing is have it create seeds that grow, instead of pure push, and in your face.

Marketing done the old way, when the money runs out, you see decline.

The way they to do it is to market in a way that when the $$ are taken away from whatever series they paid to create and start, it keeps going, and they can move on and spend the money on the next idea that will grow ETN, rinse and repeat.

It just so happens that Richard is one of the greatest minds in the world at this concept. IE Avon, Herbalife

Let that all sink in.

You have no idea what these guys are going to accomplish.

Keep this is mind when you hear Richard say hes not worried about an issue.

A. It means he has it handled.

B. Also, getting the amount of funding they did in the hands of someone like Richard, was like handing him the Federal Reserve.

ETN is so next level its hard to even comprehend. They have so much money, and they are frugal.

Electroneum will be a household brand. No question.

Mass adoption, truly for the first time.

They are exactly on the path I expected.

I know you all are still on CryptoTime, but this is RealWorld.

Its been a few months.

The miner a few weeks

60,000+

Lets hear guesses for the amount of miners at end of 2018?

100% correct. No place for it in our thread

I deleted it.

This is totally true

Don't be too excited. It'll disappoint you to know that the mobile mining was only overhyped. I'd be lieing if I say I'm not disappointed. I once believed Electroneum's mobile mining but not anymore though. After running the mobile miner for over a week, the returns is nothing to write home about.

I think the problem with Etn wallet in cryptopia (if they use the same wallet as github's Etn Linux command line wallet) is in the software implementation.

The command line version of Etn wallet on Linux is not multi threaded and it's not even using a single thread at 100% cpu so CPU is not the bottleneck. Also the network is not the bottleneck. So then it's a bad implementation (bad algorithm maybe) of Etn wallet. And it's not just Etn, all cryptonight wallets (and not just cryptonight) seems to be very slow.

CPU or drive I/O or network: one of those three should be the bottleneck for a cryptowallet.

Otherwise no matter how much powerful hardware you throw at your problem, the problem is not solvable.

thank you, yes yes, just copy here, part of the complete file