Is Electroneum a SCAM???

[ZaoXhou]

Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.

[neatworld]

no i think electroneum is absolutely scam,you can see at electroneum price.

ETN price fall about 50% from original price, most of ICO always happen at that way
so i think that is no big deal to said it will SCAM
i think i will read more because some of my friend already mined it

We cannot say if electroneum are really scam, right now the investor and the bounty hunter cannot received their token in the electroneum website wallet it said that the balance are updating hope our token will update soon.
The price are down so high but I think this not normal because the bounty hunter never received their reward so who responsible for the dump happen?

The total number of coins promised in the bounty program was by 20 million, which is but a drop in the bucket compared to the 5 billion coins sold in the ICO. So once the bounty hunters receive their coins and dump them, it won't really make a difference in the price.

At the current price, all bounty coins would come to about 68 BTC. There are more than 300 BTC in buy orders currently on Cryptopia.

Closer to 200 BTC, actually. And mostly in the really low, low registers ( I would know, my buy order is there too!), because the only way I'd consider buying back into the coin at the moment is if the risk is low enough for me. Because I think the volumes of interest in the coin bode well for it, but I also think the team have shown time and time again that they aren't equipped to function well at the level of the 'big boys'.

[invicta]

Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.

You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.

The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.

[inillo]

Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.

You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.

The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.

This project could have been great. The team destroyed it by not delivering their promises. I still think is a good coin, but it could have mooned right from the begining with a proper plan.

[jdeanne92]

You cant really judge a book by its cover. Look at ETN now. it already doubles the investment of the people that ventured into it. And it could bebalso going to triple their profits by next year

[Rozita]

You cant really judge a book by its cover. Look at ETN now. it already doubles the investment of the people that ventured into it. And it could bebalso going to triple their profits by next year

Double?  
Now the current price is 6 times  the ICO price. ICO price was only 0.01 dollar and now Electroneum is being traded at 0.06 dollar in cryptopia. The price will much higher when it is listed in some other exchanges.

[Z33IMPUL]

Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.

You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.

The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.

I think the only point of the mobile simulated mining is to introduce people to crypto in the easiest possible way without having any knowledge (thus mass adoption) 99% of the population wouldn't know where to begin getting into crypto, let alone doing real mining. Their aim is to give everyone a little bit of crypto (through the sim miner) to get them into it and show them what crypto is. I do think this is a smart way to get a lot more people into cryptocurrency than the current coins on the market. They are too difficult for most people to obtain, and they don't want to put in the effort to find out. I think ETN could be beneficial to all cryptocoins eventually. Once people get into it, they will automatically start researching other coins. ETN just makes the barrier a little lower.

And are the mobile mined coins not premined coins that have little to no effect on the blockchain? (correct me if i'm wrong i'm quite new to crypto)

[CryptoBeefy]

So this thread has literally been answered now then ... No ... No, Electroneum is not a scam! End of thread

[Z33IMPUL]

So this thread has literally been answered now then ... No ... No, Electroneum is not a scam! End of thread

I still see a few people that aren't convinced lol. I've always felt it wasn't a scam, but rather poorly executed.

[KingKrypto]

I am also thinking if I should or shouldn't buy into Electroneum. I see the price dropped a little, so it might be good opportunity, but will it go lower?

[neatworld]

Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.

You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.

The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.

Exactly. And just stop to consider, for a minute, how miniscule the amounts of ETN each phone app would most likely receive, in order for this program to be feasibly carried out. Maybe you'll get an initial mass adoption and excitement, but such is the human attention span that once people realise they are doing all this for the equivalent of a percentage of a cent per day or so... they will likely lose interest and move on to the next 'big thing'. Like all those faucet sites for BTC, etc. Even if you started out with them, how many of you still actively log in every day to play?

That's why so many people are hesitant to invest large amounts - there is doubt that ETN can sustain this hype

[Andrianla]

I do not think it's a scam because yesterday my friend could exchange his coins and he gets a considerable profit.

[neatworld]

Unsure about it, but I have never understood why you would want to mine with a smartphone over regular mining.
In theory it sounds okay.

You're not mining with a smartphone, you're simulating it (well, you would be if they launched that part of the app) - so it offers none of the benefits of proper mining (like securing the network and validating transactions) but clogs it up with users who are getting airdropped currency for no real work.

The coin's value is mostly hype driven, definitely not on any kind of technical merit - but that's fine if you bought in at a low price and are making money from it.

I think the only point of the mobile simulated mining is to introduce people to crypto in the easiest possible way without having any knowledge (thus mass adoption) 99% of the population wouldn't know where to begin getting into crypto, let alone doing real mining. Their aim is to give everyone a little bit of crypto (through the sim miner) to get them into it and show them what crypto is. I do think this is a smart way to get a lot more people into cryptocurrency than the current coins on the market. They are too difficult for most people to obtain, and they don't want to put in the effort to find out. I think ETN could be beneficial to all cryptocoins eventually. Once people get into it, they will automatically start researching other coins. ETN just makes the barrier a little lower.



And are the mobile mined coins not premined coins that have little to no effect on the blockchain? (correct me if i'm wrong i'm quite new to crypto)

Yes, good point.  In fact, as I've said before, ETN was my intro into crypto too - I bought BTC to make a small investment in the ICO. (so thanks, messed-up launch, for my small portfolio of BTC that has earned me waaay more than my ETN has! )

Once the ICO got messed up I started learning about other coins, and learned very quickly about the weaknesses of the ETN model. So perhaps the app will achieve its mass adoption and bring many users into crypto - but that might translate into a win for crypto, and possibly a loss for ETN as newcomers who do make the leap into crypto will prefer to spend their money buying other, more promising coins.

[sexycoin69]

I thought electroneums crown jewel was the mobile mining.....so what is electroneum actually good for?

[HushRah]

It's one of the successful ICO, currently on the market giving good mining profits too.

[ostsee77]

I thought electroneums crown jewel was the mobile mining.....so what is electroneum actually good for?

To possibly generate money for Brexit?     

[Budening]

Your statement is fake!!! Because my friend get it the token ETN yesterday. And now my friend is happiness because get a lot of dollars. I just give you suggestions. Don't look at a project from the outside, maybe they are working hard to give rewards to bounty hunter and you just be patients okay?

[Dungard]

I really don't know why people always yelling scam before putting some research and efforts behind it. Everyone of those haters predicted ETN to be worth less then a penny but look at where it is now, standing strong above 300 sats. As more and more news are released it will start growing in value

[benjaminoo]

I thought electroneums crown jewel was the mobile mining.....so what is electroneum actually good for?

I see Electroneum being an amazing medium of exchange in transactions directly between people, especially in third world countries. The app is very user friendly and allows you to send money very quickly to anyone else with no technical knowledge required. The transactions fees are low too. Minimum payable amount is 0.01 ETN. So even if ETN were to reach $100 (very unlikely) the fee per transaction will only be $1.

[benjaminoo]

I am also thinking if I should or shouldn't buy into Electroneum. I see the price dropped a little, so it might be good opportunity, but will it go lower?

The piece has dropped a lot since launch, and the lowest it has ever been was 265 satoshi. The price has traded at 400 sats for around 2 days after launch and only recently dropped to its current 313 sats price.

But although the BTC value has dropped from 400 to 313 sata, the dollar value of the coin has remained fairly constant at $0.06, owning to bitcoins recent bull run.

I see the price possibly dropping to 250 sats, but not much lower than that.