Topic: [POR]⚡ELECTRONEUM⚡Official Moderated Thread - page 409. (Read 240341 times)

I doubt they would make such a mistake, but if what you said about the pre-mine is true, that means the coins already mined actually should worth a lot more right now. I don't know much about privacy coins. Is it possible to just examine the blockchain and see how many coins are in circulation?

The part about noobs learning is so true   As an old bitcoiner since 2011, always thought I should spend some time and learn about privacy coins such as XMR, but just too lazy to get started. Now that I have some experience with ETN, the skills can be transferred to XMR mining down the road.

Contact the mining pools support on this. I dont know.

Stop using the pools that charge 4%. The devs have stated that the goal is to close then as soon as possible, as they dont want to run them, and they specifically charged 4% to discourage users from choosing them to mine. They were only there to bridge the gap until independant pools were started. Now there are plenty of other pools to choose from; please use one of them.

BTC supply: 21000000.00000000
ETN supply: 21000000000.00

Think about it.

nicehash is a mining service (google NiceHash) and people point their mining rigs at nicehash and nicehash redirects to whatever_coin_is_most_profitable.   (this is also why as soon as nicehash supported ETN the network hashrate jumped from 10MH to 150MH in a matter of a few hours).   so when you're mining to 'nicehash', you're not mining the coins directly.  you pick the algorithm best for your rigs, and nicehash basically acts as a proxy to the most profitable blockchain, nicehash gets the mining rewards (in this case ETN since ETN is most profitable right now), and nicehash auto-dumps all the rewards on the exchange for BTC and pays the miners in BTC.    so again thats why the network hashrate skyrocketed, and its also why the coin is drasticallly dropping in price fast because nicehash auto dumps all rewards on the exchange immediately into BTC and pays the miners in BTC (while keeping a nice chunk for themselves too).  many people like using nicehash for it's auto-switching capabilities to auto switch to the most profitable coins so they can just set-it-and-forget-it and basically sit back while BTC accumulates in their wallets.

Contraband, can you please comment on the issue with the mining pools and mined blocks being stuck in a limbo?
Few people have been trying to get your attention to this issue and so far all the messages have successfully been ignored.

Thank you.

Just on the hack, can you clarify what they got? The email stated to change email passwords, did the hackers get the email list of all investors? Is there a possibility we will get email from the hackers and not the legit dev to do something that could compromise our coins?

this bugs me too, because as it stands today their codebase (which is public on github) is nothing other than just a monero fork with a string replace of monero to electroneum.  literally 0 added intellectual property for blockchain technology.   i have no idea what they're devs are doing.  i guess they focused on the mobile app which is yet to be seen.

they premined 60% of the coins, which you can see on block #1 https://blockexplorer.electroneum.com/tx/878ec74ff5f305ba30df3bae5f84bc59c8cb8cfbcc3df12f58dd7e646999892b

thats 12.6 billion coins premined out of total supply of 21 billion. supposedly 4.4 billion of that is for ico coins that are still waiting to be paid and the other 8.2 billion of the premine is for the "mobile simulated mining experience".  afaik this 8.2 billion premine for the mobile mining experience was NOT announced at all which comes as a massive surprise, and IMO its way to large and is going to really a gold mine for  hackers to simulate phones so they can accumulate more for themselves.  The other unmined 8.4 billion is for desktop miners who mine the actual blockchain (mobile mining experience does not mine the blockchain or find any blocks at all, its fake mining, and this WAS CLEARLY communicated in their technical white papers which apparently nobody read and this furthered a lot of misunderstanding/mistrust/miscommunication.)

the reason for the high 4% fee they said is because they wanted to encourage other pools to pop up (they themselves did not want to be the main pool that everyone uses).  

they did say one of the purposes of ETN was to "introduce" everyday people into the crypto world , which is sort of working, but unfortunately the failed launch of the desktop wallet and ico coins and the lack of good communication from the company I think is just pissing off more people so its kind of backfiring.  especially since a lot of people really thought they'd be able to mine a lot using cpus when in reality they didnt stand a chance against the pro gpu miners.  They should have communicated better expectations for sure.  Combine that with the the completely broken official electroneum pools (which they have yet to address which is even more embarrassing to them), and its really just a disaster launch.  

for me personally I mined a *lot* of coins right from the start and sold them all, but I knew what I was doing when everyone else was scrambling how to use their desktop cpu miner they downloaded (and unfortunately pointed them at the broken pools which they would have no idea of why they werent getting anything), and even many gpu miners had no idea how to mine monero.   i'm also an investor, and waiting for the ico release, and i do expect a dump at first but after this initial dump I'm hoping people get over the all the distaste going on (yes, they messed up big time), but in general for their future I think they do have something big especially with the online gambling and gaming aspects..., so i expect the coin will rise back up at some point.

Contraband,

Thank you for not ignoring my post this time.
But once again, the main question got ignored.

When the dev team will look into the pool?
Are they planning to do so?

I presume you are in constant communication with them, so why can't you share their plans?
If they have no time or intention to fix it, at least we would stop wasting our time trying to get some answers.

You keep saying the coin will cost much more and keep promising ICO and mobile miner release, but that's not what we are asking.
Frankly, how reliable mobile mining could be if a simple issue with a pool hasn't been addressed for 48 hours...

Yes, all of the innovation is in the centralized mobile mining side of the coin, and will not be put on github as this part of the project is not open source.

Yes, all of the innovation is in the centralized mobile mining side of the coin, and will not be put on github as this part of the project is not open source.

I know its frustraing that we got hacked by a huge botnet, but we will surive.

The devs are doing the right thing, but right now that isnt making people feel much better, but it does make me feel better because I wasnt going to sell until we hit $1-$2.

So the only difference it made to me,6 was to show we have a dev team will make the hard choice in the face of adversity, to DO THE RIGHT THING!!