Is Electroneum a SCAM???

[nappoleon]

This ICO raised $40 million to fork Monero, move the decimal point, and build another mobile wallet. Somebody kill me. They have been contacting monero devs to help them with the fork. Very aggressive marketing, not sure about the product. They advertised on pretty much every social media platform for months, probably fleeced alot of noobs.

[tawfiquecse]

No i dont thinnk so its scam. Electroneum is the first British-developed cryptocurrency and represents a huge change of pace in the market. It’s built on its own unique blockchain .Its is Developed to be used in the mobile gaming and online gambling markets, it will be the most user-friendly cryptocurrency in the world with wallet management and coin mining all possible on a mobile app.

[rexter]

I think Electroneum is a kind of mobile application for accessing cryptocurrencies.This application permits the user to send and recieve payouts and also to manage and monitor their online funds..It can be accessed even by an ordinary user.it is being designed on a custom blockchain with a variety of special features.

[HoldCoinInHand]

I see their enthusiasm

[rexter]

Electroneum is not a scam..just read and study there whitepaper.

[KingScorpio]

Electroneum is not a scam..just read and study there whitepaper.

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

lost another 30 % today and heading for 3 cent barrier

reagards

[doremi]

Electroneum is not a scam..just read and study there whitepaper.

of course it is a scam,whitepaper said they will only premine 6 billion coins after ico but............................they premined 12.6 billion coins when launching!!
Cheers!

[Minotus]

I don't think it's a scam. I read whitepaper and i think they have a good team. It is normal to think that those against the project are scam.

[KingScorpio]

Electroneum is not a scam..just read and study there whitepaper.

of course it is a scam,whitepaper said they will only premine 6 billion coins after ico but............................they premined 12.6 billion coins when launching!!
Cheers!

the scam/bubble relizes itself then, when the team starts selling its preming before the investors do, and then there will be a big whining.

regards

[Lupin297]

Check out Suppoman's video about it, he goes into real good in-depth analysis about Electroneum.

[Karen23]

I think it is not a scam.  I read the whitepaper.  The concept of the project is great one of which is gaming.  Let's just wait and see.   Anyways, there are so many coins today, we can never really tell its potential as early as 1 week, 1 month or 3 months.

[achillez]

Of course its not a scam but its a low average project with huge marketing. These guys are marketing experts , specialist in their field and good at their job.But why it should grow when it comes to the exchange? Everyone can join the ICO right now. No exclusivity and with an low average project there will be not enough demand after the ICO.Like the moste average projects the price will go below ico price.

Everyone can join the ICO by mining? I thought the initial coin offer is over now.

[Embeco]

While maybe not a scam definitely not a well thought-out project. Mining that isn't mining, premined coins that are higher than announced. I hope for anyone who invested, that it's just unfortunate communication.

[achillez]

This ICO raised $40 million to fork Monero, move the decimal point, and build another mobile wallet. Somebody kill me. They have been contacting monero devs to help them with the fork. Very aggressive marketing, not sure about the product. They advertised on pretty much every social media platform for months, probably fleeced alot of noobs.

This was also my fear. I was hoping there is something in the mobile wallet (it would be interesting to mine using that), but it seems the mobile wallet isn't enabled yet. Four concerns (now):


1) I heard they pre-mined twice as much as was planned? Several Billion worth of ETN? Why?
2) Why are the official pools not paying out any ETN?
3) When will the mobile wallet be enabled for mining?
4) PC CPU/GPU mining works but when will a simple/easy GUI wallet be available transferring funds? The CLI is there but this is something most people won't understand.

I'm not spending a lot of time with bitcoin/altcoins these days but I think the community would greatly value from a site that evaluates the technical viability of current and future coins so the average person can understand what is going on.

[csmflynt3]

I hope it's a scam because these are the most incompetent people in the world if it's not.. Don't need people like this launching coins for the love of god do something you are good at please.

[caturujian]

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?

[achillez]

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?

No idea what you are trying to say here.

[mugwump]

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.

[SLB Vm]

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.

[ostsee77]

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