Is Electroneum a SCAM???

[MrMaxwell]

NO ETN is not a scam.

BTC is a scam
-super slow transaction times (days and days)
-super high transaction fees (hundreds of dollars per transaction)
-super inflated bubble price

These delays and super high fees are caused by bag holders wanting to dump their BTC but the network doesn't have the capacity to keep up.

[dababe]

@OP
Yes, it is.

May I ask why you believe it to be a scam?
I think it will be more compelling if you provide some facts to support your statement.
Thank you

[dababe]

In the end, I'd like to classify Electroneum as a "shit packed in pink glittery paper" rather than a "scam". At least for now )

Good classification.  And in this words are some true. It's pity that same coins no one but much. They have 'idea' and it is all.

So it turns out that this project is really good, but the developers did not do it right and therefore it is better not to give them any investments. Can the situation change at a certain time? Although I'm sure that many projects that have initially bad potential, die even on take-off.

I don't understand what you mean.

1. They have partnered with Fanfare
Fanfare is an awesome video-sharing app where fans can connect with brands through fun videos, cool games and awesome rewards.

Fanfare have already engaged with over 60 brands since August 2017, making it easier than ever for fans to be rewarded for posting social media content (fun videos, cool games, etc).

As we develop our plans to integrate Electroneum with FanFare’s ecosystem, we are excited for the opportunities we can work on together to build even more value for our precious coins

2. They partnered with Xius - See http://electroneum.com/2018/01/05/electroneum-signs-agreement-with-telecommunications-payments-giant-xius/
Electroneum, the mobile-friendly cryptocurrency has formed a groundbreaking relationship with the mobile and payments technology provider, which has an active subscriber base of over 65 million people. REad the press release.

XIUS is the telecoms operating brand of Megasoft. A market leader in the mobile and payments space, XIUS has over 230 deployments for customers spanning 6 continents, with an average of more than USD 1 billion worth of payment transactions processed every month. Its corporate headquarters is in Massachusetts, USA and its global delivery centre is in Hyderabad, India.

3. The CEO of EHI and Titanium, Michael Stollaire is working with ETN. Michael is helping ETN filter and find the right exchanges. He has vast experience and contacts, both of which will be incredibly valuable when negotiating ETN's listing. 

In addition to that, Electroneum is hosted on Amazon AWS servers just as Bittrex and other exchanges. They cite the fact that their downtime is due to Amazon's servers. With that said, Michael owns EHI and has REAL clients and his new company, Titanium Blockchain Infrastructure Services (TBIS) is where Electroneum will be transitioned.

4. They are listed on Cryptopia and have been approved on HitBTC. HitBTC is integrating ETN's wallet into their system right now. More exchanges will follow. They are currently working with NEXT.EXCHANGE, which will soon allow you to transact and trade your ETN. We estimate that we'll be up and running within 3 weeks or so.

Many people want them to come out the gate on Bittrex, Binance, etc. If you really understood the 'process' to get into those exchanges, you'd appreciate it more. The money they have to pay isn't the problem. It is the process.  Fortunately Michael Stollaire has much experience with the process being that he was the guy who managed to get XVG (Verge) on many exchanges.

5. On 19January, this was annoucned: MOBILE MINING BETA UPDATE

We are happy to say the mobile mining beta has started. ( MY COMMENT: don't start with the mining argument. We all know it isn't REAL mining but is pre-mined coins being distributed to the masses for tasks)

Over the course of this week we completed some internal (and commercial partners) testing which was very successful. We have now sent it out to the first 100 applicants for the beta program.

Once we have completed this round of testing we plan to roll it out to more people to test the scalability of the miner, allowing many more applicants to gain access to the mobile miner. At this stage we will also be adding some additional features.
Check out the demo https://www.facebook.com/electroneum/videos/1945639132364722/

Do they have issues? Yes! So does Microsoft and they are a technology company. Microsoft Windows is a big ol suck wind. But it took them time to get there. LOL!

You guys have to understand that crap happens will ALL startups. Go on.... start up a business. Their infrastructure isn't the best which is why I am pleased that Michael Stollaire stepped in with his expertise. His developers will be all on this.

Every company makes mistakes. This isn't just a cryptocurrency or blockchain play like many coins. This is a business focusing on mass adoption of crytocurrencies.  Can we ever root for the success of a company ... EVER? Can we ever put the the knives and guns down while being patient even when deadlines are missed?

Everyone wants perfection and when things go south, we scream SCAM. We need to better manage OUR  expectations and stop looking to buy Lambos 2 week or 6 months after an ICO.  That is quite simply cuckoo for cocoa-puffs. At least they are doing MORE than MOST companies are doing POST-ICO.

Aren't we tired of ICOs where their whitepapers are a bunch of fluff and post-ICO, they suddenly go quiet while the first movers dumped their coins quickly for profits? If that is what you want, there are plenty of ICOs like that.

Did they do some things wrong? Yes they did and they owned up to it.
Are they a scam?  Just tell me why you think so. And if it makes sense to me and backed by facts, then I will be forced to take a look at your premise, supporting facts, and conclusion.

Thank you

[Arisgado]

Electroneum is not scam. Electroneum is profoundly easy and even convenient to do. There is an application that you can mine on mobile.  It’s really more attractive and special than any other cypto currencies. The best thing for us is we need some verification site  that will tell us whether the coins that we are investing on or working for in a campaign is really legitimate.

[crypto440]

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!!!

First British Crypto Currency
It has its own BlockChain (open source)
Can be managed all from a mobile app
It has OVER 80,000 + community members
Requires zero technical ability to mine it from your mobile app.
Plenty of financial backing (Richard Ellis) who leads the team is valued at over $50 million himself.

i don't think it's a scam.....

[Zhekos]

You can follow this nice Telegram channel for latest verified Airdrops: https://t.me/Dope_Airdrop   

[invicta]

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!!!

First British Crypto Currency
It has its own BlockChain (open source)
Can be managed all from a mobile app
It has OVER 80,000 + community members
Requires zero technical ability to mine it from your mobile app.
Plenty of financial backing (Richard Ellis) who leads the team is valued at over $50 million himself.

i don't think it's a scam.....

I am British and the fact that Richard Ells (not 'Ellis') has sucked in this many people is embarrassing to me. So being the first British cryptocurrency doesn't mean anything.
The blockchain technology is Cryptonote, specifically Monero, and anyone who has technical knowledge knows that they probably chose the wrong coin to fork, the ring signatures make it very hard to manage and I don't think Electroneum really needs anonymity - anything else would have been better and easier. They didn't write it from scratch as they don't have the capability or knowledge to do so.
A large community of people singing their praises without really understanding the underlying technology doesn't actually help anyone.
A mobile app is a security risk, if people rely on apps alone then if this gets as big as you all think people are going to get hurt. I don't understand how people think anything more complicated than an 'app' is too much effort, basically if you can't be spoon-fed something then it can't be worth doing...
Mobile mining seems to be a way of getting currency for doing nothing - I can see why this would appeal to the entitled masses but it's not a long-term strategy (see BitConnect).
Where on earth did you find that Richard Ells is worth $50 million USD? The ICO raised that - according to Companies House his net worth is about $50k, it's probably more than that but you don't have to look far to realise that he is a marketeer first and foremost with zero blockchain experience - but as soon as you have lots of money you can hire and partner with virtually anyone.

Anyway, maybe not a scam in the malicious sense, but it is a shitcoin. Still, I'll happily ride the hype-wave even if I don't think much of the coin.

[CRYPTOBEX]

  I mean mass exposure is great for all currencies.

[GrassBite]

Wait !

You really think mobile mining was EVER anything but a way to get attention?  PURE PR (well done, I admit).

But, I won't ever back anything that starts off with lies.  If they lie to you the first day, you will get lied to again.

[sksshopee]

This ico good establish in the market and my opinion you collect all information then invest so i think  electroneum  not a scam.

[trudovik]

I heard that they do not pay their hunters for a very long time, who worked to get the project to earn their money, but of course if the project does not pay the money to its hunters, then I think there is a smell of deception and in that case it will just be necessary to contact the police.

[sparg]

I heard that they do not pay their hunters for a very long time, who worked to get the project to earn their money, but of course if the project does not pay the money to its hunters, then I think there is a smell of deception and in that case it will just be necessary to contact the police.

I think that you are only spreading FUD for no reason. I was one of the hunters and i`ve got all my tokens. And the payment was very generous. I dont heard of a single hunter not to be payed so please inform youreself before posting things like this.

[nick_nick]

This is not surprising, the majority of ico is a fraud. I think you need to spread this information, that would be less people caught in their bait.

That's very true. I'm really in support of your view because most Ico's nowadays are just means to an end. They come up with any bogus project just to amass wealth at the detriment of investors. We need to propagate this news for people to be circumspect before investing in any Ico

[Wombat8700]

If you look at the fundamentals of the projects, it simply lacks innovation in it's core to be of much relevance for blockchain technology in future.
The fact that a lot of crypto Newbies have jumped on board and hype it wherever they can and the team having a decent understanding of Marketing can certainly push the price in the short, mid-term but looking at the price development I can only see this being a coin to ride with the general market flow rather than being a breakthrough coin, there are certainly better coins out there for that to happen. I personally have moved away from ETN a few months ago but this is just my personal opinion.

Future potential: Fairly limited from here, unless we see some major developments from the team.
Scam: I really don't see enough indicators for it to be a scam.

[99th]

I don't think it's a scam at all. In fact. The lead dev is up for the best developer award. There app just started letting select people mine too. The announcement was on their Facebook page.

[Severniti]

Well one part ti is a scam. They said that it will be possible to mine it through the cell phones, but that is not true.
Cell phones vulnerability is a good reason to not to do mining, but why they anounced that in the first place.
Is it possible that they didn't know that? It was a good marketing for sure.

[-Redacted-]

Well one part ti is a scam. They said that it will be possible to mine it through the cell phones, but that is not true.
Cell phones vulnerability is a good reason to not to do mining, but why they anounced that in the first place.
Is it possible that they didn't know that? It was a good marketing for sure.

There are lots of untruth in not the most popular projects. How do they should attract people to themselves? Of course, there are different ways. Well, I do not see the main features that this project is a scum.

[sparg]

Well one part ti is a scam. They said that it will be possible to mine it through the cell phones, but that is not true.
Cell phones vulnerability is a good reason to not to do mining, but why they anounced that in the first place.
Is it possible that they didn't know that? It was a good marketing for sure.

There are lots of untruth in not the most popular projects. How do they should attract people to themselves? Of course, there are different ways. Well, I do not see the main features that this project is a scum.

Are you for real? Do you now what are you talking about? Do you keep track of the team announcements or just talk to make posts?
Do you know how a project development works?
The raised the funds and then started to work on the project. They stated from the begining that the mining app is not running and they will develop it once the funds are raised.
Last week they launched the mining app to beta test, meaning they are ahead of the roadmap.
Some people are so greedy and think they deserve it all. You are in just for the free money and you have absolutley no experience in what investment means and i hope people like you dissapear from the market. You deserve to loose all your money.

[cryptogeek101]

I personally don't think that Electroleum( ETN )is a scam especially when you actually know the leader of the team, Richard Ells. Many scam projects don't have a visible leader to hold responsible.They may have one or few lapses but they are not a scam.

[dhka]

Well one part ti is a scam. They said that it will be possible to mine it through the cell phones, but that is not true.
Cell phones vulnerability is a good reason to not to do mining, but why they anounced that in the first place.
Is it possible that they didn't know that? It was a good marketing for sure.

I just cant stand this kind of jerk comenting on something without even knowing what they are talking about. Before making any comment please learn a bit about it first and stop making fun of yourself.

It is not actual mining, it is just simulation but getting paid. It is a nother form of airdrop. Its main purpose is getting blockchain to mass adoption, and I believe electroneum is among the first to do that.