Is Electroneum a SCAM???

[biletskiy]

Electroneum make really huge marketing campaign but  it indicators aren’t very impressive telling the truth. Maybe it is really difficult to make a high growth with all attention directed to BTC now. I advice to abstain of big investment s in this currency in the near future.

[contraband]

I don’t understand why no-one is addressing the key points of this project. Namely what is the point in having millions of ‘mobile miners’ (worthless) if you mug off the real miners with their GPUs and powerful CPUs who are the ones actually doing PoW consensus and securing the network? If miners lose interest, and trust me, they will when the price plummets, then the network is meaningless if there is no-one left to process and validate transactions. It doesn’t matter if there are millions or billions of mobile phones connected as they aren’t doing anything other than inflating the dev teams oversized egos.

Even if there was another consensus mechanism in place I think it’s pretty obvious that the team being Electroneum aren’t smart enough to implement it given Bitcoin and Ethereum are still using PoW and haven’t switched to PoS or anything else yet.

Some people need to wake up and take the rose-tinted glasses off. Start really thinking about the technical hurdles this project faces. Fortunately I haven’t put a lot of my resources into this. I am yet to see a valid argument from a single Electroneum evangelist other than the dev team have done a real number on them and this thing is gaining cult-like status where they’ll defend it against anything. This project highlights a number of issues with current ICOs and undermines a lot of the ethics - even if this wasn’t deliberate/scammy from day one.

There is a premined pool that coinmarketcap monitors and doesnt count as mined until it comes out of that address.

So the mobile mining experience is does not "mug off" the actual miners

The rest of your points could go for any crypto, and the fact that ETN is 3 times more profitable to mine than the coin it forked from (Monero) the last time I checked, so your concerns dont seem to be an issue with Electroneum

[NoomDalv]

I'm predicting a huge hype these last days before they finally release something and a massive dump at launch, since they got their pockets full of money they will just kill the project slowly and pretend nothing ever happened.

[developer101dev]

Where is the marketing? I doxed the dev team, which wasn't too hard when they post all their LinkedIn. They are big players in the internet marketing industry in England. They can do it for free!?! I even looked up the coins head guy Richard Ells and called his headquarters. I asked the secretary about Electroneum? I was transfered to a guy that asked me how he could help me with my questions. So I asked, "why aren't you marketing this ICO?". He said, "they are and more is coming." Do you see any marketing? WTF.

The ICO starts in 3 days!!


EDIT

No, it is definately not a scam.

They have raised 3 million already.

I was worried about the marketing, but now I see their ads everwhere I go on the internet, so the guy wasnt kidding when he said the marketing is coming!!

Damn!!! Ive never seen a coin hit mainstream news sites!!!

Actually i think that most of the ico's today are scamming their campaign participants, They are not paying the correct amount of coins they should pay and maybe its because of bitcoins value that is increasing massively and they did not want to spend more money for the participants.

[contraband]

Where is the marketing? I doxed the dev team, which wasn't too hard when they post all their LinkedIn. They are big players in the internet marketing industry in England. They can do it for free!?! I even looked up the coins head guy Richard Ells and called his headquarters. I asked the secretary about Electroneum? I was transfered to a guy that asked me how he could help me with my questions. So I asked, "why aren't you marketing this ICO?". He said, "they are and more is coming." Do you see any marketing? WTF.

The ICO starts in 3 days!!


EDIT

No, it is definately not a scam.

They have raised 3 million already.

I was worried about the marketing, but now I see their ads everwhere I go on the internet, so the guy wasnt kidding when he said the marketing is coming!!

Damn!!! Ive never seen a coin hit mainstream news sites!!!

Actually i think that most of the ico's today are scamming their campaign participants, They are not paying the correct amount of coins they should pay and maybe its because of bitcoins value that is increasing massively and they did not want to spend more money for the participants.

They have around 70 million now.

They will spend it.

Already have 15% of the users as BTC.

Most number of investors in an ICO ever!!

[rainezerr]

You can always look at the platform of every campaign you are joining before you participate or you can observe how the manager interact on their participants then you can determine whether it is a scam or not.

[fanbsh]

i am not sure, still not see any windows wallet or mobile wallet

[invicta]

I don’t understand why no-one is addressing the key points of this project. Namely what is the point in having millions of ‘mobile miners’ (worthless) if you mug off the real miners with their GPUs and powerful CPUs who are the ones actually doing PoW consensus and securing the network? If miners lose interest, and trust me, they will when the price plummets, then the network is meaningless if there is no-one left to process and validate transactions. It doesn’t matter if there are millions or billions of mobile phones connected as they aren’t doing anything other than inflating the dev teams oversized egos.

Even if there was another consensus mechanism in place I think it’s pretty obvious that the team being Electroneum aren’t smart enough to implement it given Bitcoin and Ethereum are still using PoW and haven’t switched to PoS or anything else yet.

Some people need to wake up and take the rose-tinted glasses off. Start really thinking about the technical hurdles this project faces. Fortunately I haven’t put a lot of my resources into this. I am yet to see a valid argument from a single Electroneum evangelist other than the dev team have done a real number on them and this thing is gaining cult-like status where they’ll defend it against anything. This project highlights a number of issues with current ICOs and undermines a lot of the ethics - even if this wasn’t deliberate/scammy from day one.

There is a premined pool that coinmarketcap monitors and doesnt count as mined until it comes out of that address.

So the mobile mining experience is does not "mug off" the actual miners

The rest of your points could go for any crypto, and the fact that ETN is 3 times more profitable to mine than the coin it forked from (Monero) the last time I checked, so your concerns dont seem to be an issue with Electroneum

I don’t mind you being very pro-Electroneum, but your comment suggests you don’t understand proof-of-work consensus.

If you hand out coins, premined or otherwise, the mobile miners are not doing anything. It will be the actual miners (like me) who secure your network with high performance GPUs and CPUs. What incentive do we have for continuing to do this over real and established coins?

ETN is 3 times more profitable to mine because the difficulty is low and the supply is low. When the ICOs wallets open up, all the disillusioned people who were messed around will dump those coins. Simple economics shows that high supply and low-mid demand will lead to a low price.

[ckorbba]

You can always look at the platform of every campaign you are joining before you participate or you can observe how the manager interact on their participants then you can determine whether it is a scam or not.

if you study the detailed information on the bitcointalk form, then you can very much find projects that are not very promising and fraudulent. The fact is that even the managers performed their duties very carefully, but as a result no one received their reward. And there was also a different situation when companies paid coins, but the entire price and time stated and to the company turned out to be wrong and coins were worthless. One example is the Monkey project.

[Sparky71]

i am not sure, still not see any windows wallet or mobile wallet

Latest update on FB is they are working hard on choosing a date.  They need to choose soon.  Hiring hackerone bought them only 4-5 weeks.  If there are more delays many people will start to doubt.

[monsterman]

i am not sure, still not see any windows wallet or mobile wallet

Latest update on FB is they are working hard on choosing a date.  They need to choose soon.  Hiring hackerone bought them only 4-5 weeks.  If there are more delays many people will start to doubt.

yes u right

[RonMank]

social media office guys try to enter the cryptoworld -thats the result.

[crypto-bit]

Time will tell if they want to run our investment.For now i can just say that they keep updating there user through there social media accounts regarding the development of this project. Im pretty confident that this will be huge in next year.So dont worry folks just trust them they know what they doing. Only weak hands will be losers here.

[Nana21]

 some people invested a very very big amount of btc into it.

[deeofficialx]

I hope not. I Invested what I can afford to lose, but some invested a lot.

[saycryptohello]

Please don't say that. That my investing hope. 

[invicta]

Time will tell if they want to run our investment.For now i can just say that they keep updating there user through there social media accounts regarding the development of this project. Im pretty confident that this will be huge in next year.So dont worry folks just trust them they know what they doing. Only weak hands will be losers here.

Stop burying your heads in the sand and address the issues me and countless others have raised. Their social media updates are BS - just posting every few days ‘we are working on it’ doesn’t help anyone, a child could do that. This will only be huge because people keep hyping it up way more than it deserves, the whole mining/airdrop thing hasn’t been addressed and even an early alpha/beta app hasn’t been shown yet.

[CryptoBeefy]

They've employed hackerone to go through their system and find bugs, this takes time .. patience is a virtue my friends. Would you rather they just released it, your wallets got hacked and you lost all your tokens?

[invicta]

They've employed hackerone to go through their system and find bugs, this takes time .. patience is a virtue my friends. Would you rather they just released it, your wallets got hacked and you lost all your tokens?

No, we'd rather they actually knew what they were doing, did all this back-end testing before the launch and allegedly having their website hacked on day one.

Does anyone actually have any real evidence that these guys know what they're doing or is it always going to be the same old 'HackerOne', 'have patience', 'we'll all be rich', 'mobile mining for the masses', 'to the moon' rubbish spouted each day. Just because you want to believe them doesn't make it real or any better.

[CaptChadd]

For me personally, I find that Electroneum in its current state alienates community members that might be new to Cryptocurrency; having a user-friendly front end with a gentle learning curve would create an increased and more widespread adoption of the vast amount of lower tier traders which are important for promoting a healthy consumer base.

I understand that their website/platform was compromised but they have outsourced that issue to Hackerone who will deal with it which means that the Dev team could be working on the Mobile platforms which were an important part of their marketing campaign.

As it stands Electroneum is just another trade coin which has a basic offline / desktop wallet system and a website that is barely functional; which is not much to show for a staggering $40 million dollar ICO.

Just my opinion of how things are at the moment; maybe the Developers are working hard on the platform's backend or something like that and it will all turn out fine in the end.