Bitcoin Forum

Hello All,

Came across this  Electroneum ICO . It looks like,  it  is for gaming purpose. any insights about the ICO and future.

Its basically an educational game that they launch on cryptocurrency and playing it =mining=making a tiny bit of cash. It seems really hyped and I participated in the ICO
I don't think its a bad concept at all even if they don't reach their targeted audience the app can still be advertised to groups that are less likely to learn cryptocurrency but are interested. I can't remember everything exactly as I'm pretty fried at the moment (from work)

It is very exciting!

May i suggest you head over to the telegram-chat at telegram.me/electroneum (http://telegram.me/electroneum), and get any questions you have, answered from the devs and the community.
But first, make sure you read the newly created and independent FAQ beforehand at http://electroneumtalk.proboards.com/thread/8/electroneum-faq (http://electroneumtalk.proboards.com/thread/8/electroneum-faq) :)

It's kinda a bet on popularity imo. They target the gaming and gambling markets for applications of the coin it seems, but I think the 2017 outlook will depend on how popular the app becomes.

Being able to mine with your phone could become very popular, or not. That's the central decision to make when deciding to invest.

Lot of people haven't really dabbled in crypto yet, and there is undoubtedly a huge untapped market. Whether Electroneum or some other project penetrates and becomes usable for "normal" people is uncertain.

I think it looks good personally, with what seems like some solid marketing people behind it. Which I believe is more important than the tech part, since it aims at reaching the masses.

If the mobile miner is usable, it could become very popular though. Getting 10 bucks a month mining might not be a huge deal to a lot of people, but has immense potential in the third world (lots of people with low income have smartphones).

And that is the point; the mobile miner will be easy to use and eliminate the problems others miners had, with regards to overheating, draining your battery or straight up damaging your phone.

I bought a few of these, so I hope you're right about that :)

I am :) They have even tested the miner, according to the whitepapers!

I've bought into the ICO as think if it gets mass adoption it's a great concept with real world use. Team looks solid and plans look really exciting (potential is humungous particularly for mobile mining to get non crypto users familiar with the tech and how to access the market).

Is always going to be speculative but I have a good feeling about it!

Don't invest in the ICO. You might find people wanting you to purchase coins during the ICO though the thing that you should do is purchase during the coins dump when it hits and exchange.

I wish I'd posted this before I did :) Thanks for the advice, really appreciated and next time I will, am holding for the mid term so hoping it won't hurt me too much, fingers now shakily crossed! Still getting to grips with strategies tbh as have held Eth initially and now diversifying.

Still a reasonably reasonable comment from someone who's pretty fried ;) You work Sundays too?

Anyway, yes. Mainstream education for Bitcoin/crypto/blockchain is still terrible at the moment. The learning curve is incredibly steep. You can spend a few hours at bitcoin.org to learn about the basics, and weeks on this forum to understand more... and you're not really closer to grasping the intermediates until you dedicate actual reading and learning time.

https://youtu.be/JZ8UfHG5vVw


This is 30 min video of dev of electroneum explaining exactly how you mine coins from your phone and it doesnt put stress on your phone. Its never been done before now.

Super cool!

From what I see an been told, the Electroneum team is trying to reach the masses. The advertising is all over London, but I think the coin will do reasonably well. I like how they are gamifying mining, I think it's an interesting idea. Best case scenario, if this brings more people into the crypto community then it's a win win for everybody.

Thank you! This! So much this! It will a be win win for ALL the cryptocurrencies to bring more people into the market! Everybody really need to get behind this coin in some sort. Aren't everybody wanting higher prices, which more demand will create?

I agree! The more people, the more money in the crypto space overall. I think a lot of people are going to get behind this coin as it's being heavily marketed and the gaming market is a huge. Once people hear you can "mine" coins on your phone, forget about it, they will come. I think for newbies it'll be a gentle intro into cryptocurrencies. Even if this project doesn't take off as expected I look forward to other projects that aim to do similar things.

Correct, I have not watched this ico closely but unless they have everything ready it is not a good idea to invest in the ico, wait for it to hit the markets and wait until people begin to get exasperated by the development and they want out by doing this you can get coins with a very nice discount.

I bought a few hundred worth of electroneum, not just because im in the signature campaign but when i research about the company the holders are known people( i always look on to that to avoid the pump and dump). You can also see the concept of the coin and what are the future plans. When buying altcoins i always treat them as a stock i always research if it has potential and electroneum has a lot of it.

I also like the concept and the possibility to mine directly in the wallet and that they concentrate on mobile payments. Seems to have a good potential and the team seems to be very professional. Although I don't think that price will x1000 (like some guys said here in the forum), it still has potential to x10 or x20 in my opinion so I participated in the ICO after reading the white paper on their site.

Here is a code that gives you 1% extra discount on the tokens (additional to the 40% they currently give):
https://my.electroneum.com/join/4B52AC (https://my.electroneum.com/join/4B52AC)

Let's get this one started! Could be the next big thing.

Don't want to seem biased, but this looks not seriously. I don't think this idea will take off, I think it's just hype.

I think that electroneum project is all about building hype on our forums. Sadly I don't see it going anywhere. It is not unique or better project to me. Just another altcoin. But I will still wait which markets they are gonna launch on.

Just another altcoin trying to target a HUGE amount of people, breaking down the barriers to the general users that bring more money into the market and more demand? Just another coin that educates people on crypto instead of referring them to here spending weeks trying to climb that steep learning curve? Even another coin that finally let you mine on your phone without damaging it? Just another altcoin that will let companies monetize the exit and entry steam of people inside the games? Just another altcoin that lets you mine so easily on your computer that everybody can do it; with a point-and-click to mine interface on the computer? Just another altcoin targetting the people without a bank account, who will be able through easy and fast transactions to make micropayments? Just another altcoin that prevents whale-mining, ASIC-mining and levels GPU/CPU mining to make it fair for the ordinary user? Just another altcoin that can long term make every single coin worth more?

Just another altcoin? Yeah sure.

This is a very good point. Unfortunately a lot of cryptocoins have problems with the rich getting richer (whales). Coins like this give an opportunity to reduce world inequality, which would certainly be a great thing.

It's certainly not Britains first crypto - memory may be failing but feathercoin, piggy, gamecredits, britcoin etc etc

How do they intend to make phone mining sensible or worthwhile? Miner will get cracked and will be done by botfarms making mining for phone users a nonsense. This happened over and over starting with quark and on to the cryptonotes.

Have you read how the mobile miner is functioning? It is allocating coins to the user when the user runs the app, based on a twin algorithm; that way you cannot add blocks to the blockchain with the mobile mining experience (Hence the experience - it is sort of a simulation). It will never be profitable to run a botfarm with phones at all compared to desktop mining in this coin.

Yup. Look at bitdice ICO, that bounty hunters once they received their tokens starting to dump their coins once it is listed on HitBTC. So the price goes down a little after starting a good price. I have observed this to a lot of ICO as well specially once they got listed, there will be a good pump then th dumping continues. So I might as well wait how things will go before getting Electroneum.

So it is just now that Britain has its own currency? I guess they took so long to issue that since the split of its nation. Well i guess monarch would try to have there own blockchain too just like ETH. If that would happen then it could be the next country that has there own that is recognize around the world market?.

We advice every single person on our telegram to hodl, because we want them to believe in the project investing. This isn't some sort of quick-buck coin. This is for the long term, and to change the whole market; especially bringing in a lot of new people for the benefit of all cryptos.

I do not know about that, this project looks good but you are right when you say there are many projects that have nothing and yet they have a fantastic campaign that hype the forum so much that people cannot stop to think about what they are investing, that is why there are so many scams, instead of reading the white paper and think about the project most people invest on hype.

This was the first ICO I invested in.  Put in 2 ETH the first day the ICO went live.  For me, 2 ETH was a huge step forward in investing in crypto.  I spent two months researching ICOs and I was down to either Electroneum, Cindicator, or Chainlink.  In the end though, I chose Electroneum because I really do believe that mobile mining can become viral, especially when their marketing focuses on a message along the lines of, "Run the app, mine the coins, make enough to pay off your phone bill each month."

A side note on hype though, I remember there were like two or three people hyping the ICO here on bitcointalk like CRAZY, saying it will sell out in a couple days, jump in on it now and all that.  Maybe, even after all my research, I was swayed a little...

Sorry bud, you got fed hype and screwed.  The dev said in the youtube interview that at best people would see a $3-$5 monthly gain with the fake phone mining so I figure the real rate is somewhere around 75-80% less for the average person.  I'm not sure how expensive your bill is but I'll assume it's more than that. 

ETN might reach ~1.2B sold under the ICO period.

It's going really well !

Just an update...

Electroneum has become wildly successful after the last post to this thread.

Although there was a huge security attack on the Electroneum servers just prior to the blockchain launch, the team has locked down the ICO coins so that they can improve the security of the system and make sure no coins are stolen. They have now called on Hackerone to participate in testing the security of their system. The ICO coins and mobile mining app will be launched in 3-4 weeks time.

Despite this security glitch (which to me just confirms the apparent value of this coin), it reached the following milestones:

1. It has reached it's $40 million cap a week before the planned ICO ending.
2. More than 120,000 people bought into the ICO, and more than 400,000 accounts have already been created.
3. The app has been downloaded more than 100,000 times already.
4. The hype has been spectacular - more than 27,000 people in the Telegram group (Telegram had to up their max group limit), and "electroneum" has more Google searches than "monero"
5. The blockchain was launched successfully.
6. ETN was listed on Cryptopia within days of the blockchain launching and has consistently been in the top 3 coins by 24-hour trading volume.
7. The coin has reached a high of $0.23 on Cryptopia (ICO price was $0.01) before dropping to between $0.03 and $0.04, awaiting the release of the ICO coins and mobile mining app.

This coin has done exceptionally well in spite of all the security challenges.

I strongly recommend you buy now at Cryptopia while the price is still low, because ETN is going to the moon!!

Electroneum is one of the next big crypto.... There mining programs is good and best.

Agreed. They've really made it easy for anyone to mine. You can mine on the desktop with your CPU just by installing the program, choosing your pool from a drop-down, and clicking a button!

The mobile app should be launched pretty soon too. There it's even easier to mine since you don't need a paper wallet.

So they're really bringing cryptocurrency to the masses that had no clue before.

This is similar to what Steve Jobs did to computers, or what Bill Gates did to operating systems - made them easy to use by the general public.

I know that many people are really into this coin, and I respect that. However, I am trying to be sceptical, especially when somebody is offering a new "revolutionary coin" that will dominate the market. There are really a lot of those kind of promises in this industry, so you have to be extra careful because of that.

Personally, I do not believe in mobile mining - maybe they will prove me wrong. Nevertheless, I think it is a buzzword. It won't be economically beneficial enough. My phone is getting hot and has significantly lower battery time even without mining anything on it.

What is more, after reading the whitepaper my impression is that there is a lot of nice formatting and marketing talk. Yet, there is very very little real content there and no description of valid business model.

In current state of the project, those are a No-Go for me.

Well there's more than that. There's also getting electroneum integrated with mobile apps as payment method for special features and being able to be transferable from one app to the other incentivizing developers to integrate this coin. Also something with gambling but i'm not aware of the details on that.