Is Electroneum a SCAM???

[Cryptochel]

I dont thins that Electroneum a SCAM. First of all I am a token holder of this project. Recently, they sent an email with information of 2nd try of launching. It means, that they worked and still working on their blockchain and I believe, they will show good results. Moreover, Their wallet and blockchain were in TOP5 by royalityawards.

[1714966256]

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[1714966256]

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[1714966256]

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[invicta]

No it's not a scam, I know a lot of the team behind it and they're super dedicated. Price is expected to be around $30 by the end of the year.

Lol, seriously what planet are you on? 21 billion tokens total and $30 per token by the end of the year. So you really think by the end of the year it's going to have a market cap of $630bn (more than all cryptos together now) - even if we halve that because of unmined coins.

Also $30 per token and they are just going to hand them out to anyone 'smart enough' to turn on a smartphone and install an app.

Good god...

On another note, why are people saying things like 'it can't be a scam, I hold the token'? As if you (some random individual that no-one knows) makes a blind bit of difference. ETN probably isn't a scam but it doesn't offer anything amazing and is technology lifted from all over the place - also, by November 2018 the 'team' can cash in their raised funds (they get unlocked after 12 months) so it will be interesting to watch around then, because let's face it, win or lose, all they have to do is dupe enough people until then.

[ostsee77]

No it's not a scam, I know a lot of the team behind it and they're super dedicated. Price is expected to be around $30 by the end of the year.

  if the token reached $ 1 it would be great. then I do not need to work any more and can read all day here and enjoy myself as people write that this token will someday be worth $ 30  Have fun dreaming

[Digital Mutant]

I think this thread have to be closed because it refers to the period previous to token distribution in concrete to the problems with the hack and the stand by of the release of the wallet....

now all is working fine

if the moderator can close the topic it would be great.

thanks

[GrassBite]

No it's not a scam, I know a lot of the team behind it and they're super dedicated. Price is expected to be around $30 by the end of the year.

You have ONE POST, EVER.  LOL!

[GrassBite]

I think this thread have to be closed because it refers to the period previous to token distribution in concrete to the problems with the hack and the stand by of the release of the wallet....

now all is working fine

if the moderator can close the topic it would be great.

thanks

Because it couldn't possibly be a long-game?  Right?  No way THAT happens.

[bembi]

I can not mention that Electroneum is a scam because I have not got proof or follow the ICO of his project so maybe we should be more careful in choosing project ico if there is any who have been deceived

[Psalms236]

No it's not a scam, I know a lot of the team behind it and they're super dedicated. Price is expected to be around $30 by the end of the year.

No I don't think it's a scam   per  se.  I  just don't see it  prospering as a prominent coin in the future.

[Nakaba]

No it's not a scam, I know a lot of the team behind it and they're super dedicated. Price is expected to be around $30 by the end of the year.

Sad to say but it will not reach $30 because it has a huge coin supply. Maybe it will reach $30 around 5-10 years from now but there is no assurance and not sure if this coin would still be alive.

[dukemc]

I think its not scam - they have a incorpareted office in the UK. And a growing community

[invicta]

I think its not scam - they have a incorpareted office in the UK. And a growing community

Um, anyone with a computer can incorporate a company in the UK and anyone with an accountant and/or 2 months worth of deposit can rent an office - this doesn’t mean anything.

[inlovewithcrypto]

I might be wrong, but I truly believe the ETN team is doing everything in their power to make their job right.

[gcxc]

The concept was not a scam, but it appears that Ells and team cannot produce the results they promised in their White Paper and other statements that have been made.   They do a good job at avoiding the facts to date, and put blame on anything but their lack of technical capability and competence.

-First they blamed hackers who had stolen users passwords, and delayed the first ICO date.
-Then they blamed time to get HackerOne involved to certify their backend/security
-Then they blamed AWS for not having proper load balancing on their routers
-Then they blamed the holidays and long working hours
-Then January rolled around, and crypto market crashed, so they kind of blamed that for the current price - originally as the crypto market was crashing they blamed people complaining and accused their user base of wanting lower prices so they could buy in lower.  Their telegram base of users (moderators) were happy to spout this - blaming anyone who complained of FUD and banning many people.
-Now they are sort of silent and just ignoring the facts while time marches on.  Halfway through February now and all they do is push out some notice here and there about some useless MOU's, as if these make the product work.  Don't get me wrong - great to have relationships with companies, but they need a product for them to work.
-Funny that people claim Ells is some type of marketing genius, when they should be focusing on the lack of technical progress.  The 'built it and they will come' analogy comes to mind.  They are 'hype it and they will buy'.  But if the emperor has no clothes (tech), it will fail.

Their White Paper had claims of certain things being ready, tested, and working.  Not the case.

They have no demonstrated back end capability to handle millions/billions of transactions - they ignore this in every communication they do.

The do not have a working 'mobile miner experience yet'.  They are in demo mode with this now.  Maybe they have hundreds or even thousands of people doing this - far cry from the millions that they would have to have to make it work.

No paper checking option for wallets - just full import into their own web app or an exchange.

No way for a business yet to transact using ETN.

Many fanboyz on their telegram or other apps that will complain loudly if you point any of this out.  Their liberal basement dwelling responses are 'sell your coinz and go' or 'stop spouting FUD'.  It hurts their sensibilities that someone might point out the fact that they are useless eaters and that ETN team is lying and obfuscating.

I own a lot of ETN, had hoped it would rise.  At this point, we'll be lucky to see .30 to .50 this year, and I'm having significant doubts about it ever reaching $1 or higher in anything other than a Hail Marry pump and dump that might occur due to some hype.

So far the ETN team has let down their many investors - some don't even know it yet.

My advice - sell on the way up and get out of this coin unless they start telling the truth and come clean with their problems.   The only thing they spout now are all the MOU's they are signing - which are essentially useless unless they have a working product that these companies can use.   If I were a retail business, I'd sign a memo of understanding that I'd use a free or near-free payment product, but it doesn't mean I'll ever use it - it has to be easy, and people have to want to use it.  Even Apple Pay struggles mightily and they have a working product, great marketing, and lots of user adoption.  Yet it's still easier to just swipe a card in most places.  Presently I do not see ETN doing anything of significance, and it's been 3ish months since their first failed ICO release, many months since people invested, and likely months to go until they have anything working.    It's quite likely another coin or company is going to muscle them out of the way.  If Facebook or Paypal or Amazon or Apple or Starbucks or Wal-Mart goes and does something similar, ETN will be relegated to the trash heap.

They can't even seem to get listed on more than one small exchange.  This doesn't really affect their product/promises, but it does affect volume and price, and even notice by folks on the larger exchanges.

The only claim that ETN has is the mobile mining experience, which is barely working in demo mode now, is not on the Apple Iphone, won't work on an unlocked Apple unless it's the foreground app, meaning it's essentially a novelty item.  The Android mining demo appears to work in background, but still seems to just stop mining at times, so I don't know if that's a function or feature or bug.

Bottom line - ETN/Ells is doing a disservice by not telling the truth/state of the network and back-end.   This leads me to believe that it is destined to fail, but may take a bit of time.  His background in MLM means he's used to milking a product for all it is worth and then exiting when all the money is gone.  Seems like this is playing out day by day.  No working product, nothing to really show - lots of hype.  Looks and smells like long-running MLM scam to me.

[coinsocieties]

No eletroneum is not a scam they have a very very successfull ICO and now they are in top 100 coins in coinmarketcap i dont think they are scam. I have thinking that ETN would be like ripple or nem  someday even they have higher supply they are still survive and very successfull coins.

[mrcastelo]

Definitely NO, Electroneum is NOT a Scam. It is one of the SUCCESSFUL ICOs reaching hardcap during the time the cryptomarket is not so good around Sept 2017, has a huge follower on their social media accounts ( Facebook, twitter and telegram) , good whitepaper and road map and already has a working product.

[neatworld]

The concept was not a scam, but it appears that Ells and team cannot produce the results they promised in their White Paper and other statements that have been made.   They do a good job at avoiding the facts to date, and put blame on anything but their lack of technical capability and competence.

-First they blamed hackers who had stolen users passwords, and delayed the first ICO date.
-Then they blamed time to get HackerOne involved to certify their backend/security
-Then they blamed AWS for not having proper load balancing on their routers
-Then they blamed the holidays and long working hours
-Then January rolled around, and crypto market crashed, so they kind of blamed that for the current price - originally as the crypto market was crashing they blamed people complaining and accused their user base of wanting lower prices so they could buy in lower.  Their telegram base of users (moderators) were happy to spout this - blaming anyone who complained of FUD and banning many people.
-Now they are sort of silent and just ignoring the facts while time marches on.  Halfway through February now and all they do is push out some notice here and there about some useless MOU's, as if these make the product work.  Don't get me wrong - great to have relationships with companies, but they need a product for them to work.
-Funny that people claim Ells is some type of marketing genius, when they should be focusing on the lack of technical progress.  The 'built it and they will come' analogy comes to mind.  They are 'hype it and they will buy'.  But if the emperor has no clothes (tech), it will fail.

Their White Paper had claims of certain things being ready, tested, and working.  Not the case.

They have no demonstrated back end capability to handle millions/billions of transactions - they ignore this in every communication they do.

The do not have a working 'mobile miner experience yet'.  They are in demo mode with this now.  Maybe they have hundreds or even thousands of people doing this - far cry from the millions that they would have to have to make it work.

No paper checking option for wallets - just full import into their own web app or an exchange.

No way for a business yet to transact using ETN.

Many fanboyz on their telegram or other apps that will complain loudly if you point any of this out.  Their liberal basement dwelling responses are 'sell your coinz and go' or 'stop spouting FUD'.  It hurts their sensibilities that someone might point out the fact that they are useless eaters and that ETN team is lying and obfuscating.

I own a lot of ETN, had hoped it would rise.  At this point, we'll be lucky to see .30 to .50 this year, and I'm having significant doubts about it ever reaching $1 or higher in anything other than a Hail Marry pump and dump that might occur due to some hype.

So far the ETN team has let down their many investors - some don't even know it yet.

My advice - sell on the way up and get out of this coin unless they start telling the truth and come clean with their problems.   The only thing they spout now are all the MOU's they are signing - which are essentially useless unless they have a working product that these companies can use.   If I were a retail business, I'd sign a memo of understanding that I'd use a free or near-free payment product, but it doesn't mean I'll ever use it - it has to be easy, and people have to want to use it.  Even Apple Pay struggles mightily and they have a working product, great marketing, and lots of user adoption.  Yet it's still easier to just swipe a card in most places.  Presently I do not see ETN doing anything of significance, and it's been 3ish months since their first failed ICO release, many months since people invested, and likely months to go until they have anything working.    It's quite likely another coin or company is going to muscle them out of the way.  If Facebook or Paypal or Amazon or Apple or Starbucks or Wal-Mart goes and does something similar, ETN will be relegated to the trash heap.

They can't even seem to get listed on more than one small exchange.  This doesn't really affect their product/promises, but it does affect volume and price, and even notice by folks on the larger exchanges.

The only claim that ETN has is the mobile mining experience, which is barely working in demo mode now, is not on the Apple Iphone, won't work on an unlocked Apple unless it's the foreground app, meaning it's essentially a novelty item.  The Android mining demo appears to work in background, but still seems to just stop mining at times, so I don't know if that's a function or feature or bug.

Bottom line - ETN/Ells is doing a disservice by not telling the truth/state of the network and back-end.   This leads me to believe that it is destined to fail, but may take a bit of time.  His background in MLM means he's used to milking a product for all it is worth and then exiting when all the money is gone.  Seems like this is playing out day by day.  No working product, nothing to really show - lots of hype.  Looks and smells like long-running MLM scam to me.

Spot on, and yet after this here come the fanboys who claim the ICO was successful 

I bought into the ICO, was disillusioned with the coin and was very happy to sell off most of my ICO coins at a good price. I did, however, hold on to a small amount simply because of one fact: the team are not allowed to sell their share of coins for a year. This means they will be actively shilling their vapourware til at least the end of 2018. Given how single-minded the fanboy base is, there is still really strong market support for ETN even though they aren't doing very much.  I do think I can sell those coins at an even more decent profit down the road. And if I'm wrong, well at least I made my ICO money back.

[invicta]

Good posts and points. I’ve always believed this too. I think the best marketing they’ve ever done has been convincing the fanboys to join the cult of Electroneum come whatever and defend them to the hilt. All you have to do is hold out until November then they can cash out. But it’s quite funny watching people defending them whenever you (skeptics like you and me) ask valid questions only to have rabid idiots jump on your on Twitter and Facebook.

I see a common argument is that it’s gone up in value and that it’s in the ‘top X coins’ - well I mean it couldn’t possibly be totally speculative (like, ahem, Bitconnect and Tether)...

[ostsee77]

This token is garbage. but the price will go to $ 1 this year. I think in september-october the time has come. when this stupid app comes, even more people will buy this token. and if more advertising comes then the price goes up to $ 1.20

[GuiDonK]

Electroneum is a cryptocurrency designed for adoption in the mobile currency market globally, with very fast micro-transactions between apps, games and users. In my opinion it will have a great future

[IAmLucas]

This token is garbage. but the price will go to $ 1 this year. I think in september-october the time has come. when this stupid app comes, even more people will buy this token. and if more advertising comes then the price goes up to $ 1.20

FYI not a token.