ETN - Electroneum's Crypto Firsts and #1's

[lexicon]

Many of us believed in Electroneum since the very beginning, but did we expect ALL of this?

-310,000 Registered users on the Website


-120,000 different investors (First time an ICO had over 100K investors ever)


-Telegram had to increase the group limit from 20,000 to 30,000 because of ETN


-ETN has the biggest Telegram group in the world


-Electromeum already has 10% of the size of Bitcoins userbase (3 million) prior to the Blockchain even going live



I would say it has lived up to its hype. It raised 40 Million, and the mobile mining app will come with an optional game, that will come not too long after the launch.

There are only two decimal points for ETN and those units will be called eCents, like in BTC they have 8 units past the decimal point called Satoshi. Only having 2 points instead of 8 is because the changed total coins to 21 Billion instead of 21 Million, which just makes ETN transactions more like whole numbers. For example a pizza might be 20 ETN once ETN hits a dollar, instead of .00349 BTC for the same pizza. Its more like real life, which the participants of the focus groups responded much better to.

ETN hired 10 different PR firms in 10 different languages, to promote and educate society at/after launch.

Google "Electroneum", and watch how many Electroneum Ads follow you around everywhere you go on the internet.

NO CRYPTO HAS EVER BEEN MARKETED LIKE THIS IN HISTORY, EVER!!!


ANN thread
https://bitcointalk.org/index.php?topic=2065043.0

[Doctor.Strange]

I'm also a part of this project, let's make it succeed together.

[Doctor.Strange]

Another great news

http://electroneum.com/2017/10/28/electroneum-announce-adoption-of-monero-codebase/

[Fred Flintstone]

Whoa, this coin is a big deal.

Ok, I need to be on these exchanges right when it gets listed.

Horrible that I missed the ICO

[GayOfThrones]

These numbers are for sure astonishing. This is big and can really become so big as we cannot imagine still.

[Polygora]

It achieved all that through manipulative advertising, I was seeing it on facebook.
"Missed out on Bitcoin? Missed out on ETH? Buy Electroneum!"

Stupid.

[lolmwoa]

i know a lot of friends who would steal many phones if this proved lucrative.

thats why i bought in. (w/e)

[chocopapaya]

It still makes me laugh that some people still see this as a scam.

Well, actually, people use the word "scam" so lightly now.  Anything they don't like they call a scam.

For all of us that bought in during the ICO, I have a suggestion, to help this company succeed more and thus giving us better returns.

Now that everything is set to go, start using the app and getting friends and family to use the app.

The success of this project is for Mr. I Know Nothing About Crypto to get in on it.
Ignore all the leet "I've been in crypto for five years and own a $10k mining rig" types, this coin was not meant for them, it is meant for the masses and will grow in value
the more the masses adopt it.

[xaviervilla]

To be honest, despite being a part of this project, i really do not understand why people would want to mine with their smartphones. This just seems so dumb. Now don't get me wrong, i certainly want success for this coin because i own a small amount of this coin myself. It surely is profit wise, but i just can't help but think that it really is not profit wise to mine on smartphones than mining with computers that have mining riggs that are really meant for mining. Really just makes me wonder.

[Avatarname]

If you read the whitepaper, almost every point made where they reference a selling point is either incorrect, misinformation, or is the nice wording of a sales person, but actually provides nothing unique. I've no doubt the coin's market share will be worth a lot at release and maybe even a record. However, the coin brings nothing to the table other coins don't already.

It's vulnerable to an infrastructure that is already built up and if it turns out to not be all hype, could easily be replaced by any company that manufacture's cellphones and has the government's authority to create cell phone numbers. There is nothing stopping ASICs from being creating to mine this coin, except the difference between Electroneum asics and bitcoin asics are that electroneums asics already have infrastructure in place to create them and it wouldn't be available to the general public.

You can do down through the whitepaper and find something in every few paragraphs that is either factually untrue or, something where if a person works in that market, knows that things don't work the way they are explained in the whitepaper. The funnest from what I read is when they said people were all scared to meet unknown people in game and weren't sure if it was safe to deal with a company that's sketchy (some companies are over 10 years old). And as if there is any physical threat.

If it turns out, to purchase electroneum is cheaper than going through a company like Coinbase and is also cheaper than Coinbase's fees, then this is electroneums only out that it may have over what already exists. It could turn into an entry point to people and that would make it a valuable coin, but there is no reason for people to stick with it as oposed to just buying in with electroneum and then exchanging it for the a better coin for whatever it is they want to use the coin for, and this all depends on it being cheaper in fees than Coinbase.com.

In the whitepaper they make current avenues like Coinbase seem like it's beyond the capabilities on the average mind, or that it requires a passport(it doesn't). It doesn't have any increased long term value over what already exists.

[contraband]

If you read the whitepaper, almost every point made where they reference a selling point is either incorrect, misinformation, or is the nice wording of a sales person, but actually provides nothing unique. I've no doubt the coin's market share will be worth a lot at release and maybe even a record. However, the coin brings nothing to the table other coins don't already.

It's vulnerable to an infrastructure that is already built up and if it turns out to not be all hype, could easily be replaced by any company that manufacture's cellphones and has the government's authority to create cell phone numbers. There is nothing stopping ASICs from being creating to mine this coin, except the difference between Electroneum asics and bitcoin asics are that electroneums asics already have infrastructure in place to create them and it wouldn't be available to the general public.

You can do down through the whitepaper and find something in every few paragraphs that is either factually untrue or, something where if a person works in that market, knows that things don't work the way they are explained in the whitepaper. The funnest from what I read is when they said people were all scared to meet unknown people in game and weren't sure if it was safe to deal with a company that's sketchy (some companies are over 10 years old). And as if there is any physical threat.

If it turns out, to purchase electroneum is cheaper than going through a company like Coinbase and is also cheaper than Coinbase's fees, then this is electroneums only out that it may have over what already exists. It could turn into an entry point to people and that would make it a valuable coin, but there is no reason for people to stick with it as oposed to just buying in with electroneum and then exchanging it for the a better coin for whatever it is they want to use the coin for, and this all depends on it being cheaper in fees than Coinbase.com.

In the whitepaper they make current avenues like Coinbase seem like it's beyond the capabilities on the average mind, or that it requires a passport(it doesn't). It doesn't have any increased long term value over what already exists.

Were forking Monero.

Does ASICs mine Monero??

[Zakhal]

They must have spent lot of their money on advertising. Hope they still have plenty left. I do hope the coin is successful because othervice it might have negative impact on the alt market. So many people loosing money would send bad vibes to all directions. Less money for altcoins...

Of course there can always be a big bump & dump group planning to hit electronum hard. And theres nothing anyone can do.

[InahC]

Previewsly, I want to take part of ETN campaign because of i have seen that the coin have potential, but I'm a little bit of a newbie in this kind of market, can I ask, where do I get the wallet for ETN, I've join the website but i'm a little confuse where to find the wallet there, is the wallet for ETN only for offline? Or they do have an online wallet

[shahinoor.bd]

Yeah For sure the Electroneum ICO was really Huge. I'm also a part of this project, next we need to best exchange.

[shams]

I have also invested a good amount of money in this project and according to my thinking, I am sure this will be a good project. I have read their whitepaper and all looks good and I am sure it will be a good successful project.

[Zeroaire]

Something like this has never been seen before.  So nobody can really predict where the market goes.

I will say that demand will be huge.  I'm sure people will dump at 2 cents.  I'm sure people will dump at 10 cents.  I'm sure people will dump at $1.

HODL and dictate the price.  Those that get out on the ground floor will be really bummed.

10 cents may very well be like getting out on Bitcoin at 100 bucks.

[dumplingsandsushi]

Something like this has never been seen before.  So nobody can really predict where the market goes.

I will say that demand will be huge.  I'm sure people will dump at 2 cents.  I'm sure people will dump at 10 cents.  I'm sure people will dump at $1.

HODL and dictate the price.  Those that get out on the ground floor will be really bummed.

10 cents may very well be like getting out on Bitcoin at 100 bucks.

Although I like your optimism, and I am optimistic about this company too, I just don't see this happening.
One of the main concerns people have about ETNs future is the liquidity of the token.
There are planned uses for it in gaming and gambling features on the app, but those are a ways off.
If millions get the coin through the app only to just try and sell it, the price will only be driven down as there is no inherent value in it.
You can get it anytime and it's only for selling? Why would anyone pay $1 for 1 ETN when they can earn that by running the app in the background?
I plan on selling when it hits 1.5 cents unless I see a major bull run in the near future.

But who knows? Maybe I will be crying as I see it shoot past 10, 50, 70 cents and beyond a dollar.

[revelacaogr]

ELECTRONEUM ANNOUNCE ADOPTION OF MONERO CODEBASE   

http://electroneum.com/2017/10/28/electroneum-announce-adoption-of-monero-codebase/

Hi All!

We have an exciting announcement!

Right at the start of the Electroneum journey we looked at many cryptonight algorithm based coins. Our favourite was Monero, for many reasons, however to change it to include all the things we needed for Electroneum was too big a job for us in the time required. We chose Bytecoin for the relative simplicity of the job.

The good news is that once Electroneum started to raise money and our profile was raised, we managed to recruit a core member of the Monero team, to work on developing an Electroneum fork of Monero. He wants to remain anonymous at this stage (probably until we can prove Electroneum to be the huge success we all hope it can be).

We co-developed Electroneum with both our Bytecoin codebase AND the new Monero codebase to allow us to test them against each other and let us choose between them before launch.

That testing is complete! It is FANTASTIC NEWS! We are launching with the Monero based code – which will be VERY good news for Electroneum, and I’ll explain why…

Maintenance and future proofing. Monero is WAYYYYYYYY more developed and maintained than Bytecoin. Bytecoin has had 88 commits to it’s core code since 2014. Monero has had 4795 commits!
Stability. The number of people working on Monero and the development has meant it is far more stable and offers many more features, flexibility and growth potential.
Ease of exchange listing and likelihood of acceptance. There are only a small handful of exchanges left that list Bytecoin, and it’s been (almost inexplicably) delisted from a number of exchanges, which was a worry for us.  Monero is listed on virtually every exchange of note. If they have Monero listed, it makes it SUPER EASY for them to list Electroneum. Copy a few files at their end, recompile our code and it will be live. It will make it literally an hours work for an exchange to list us.
Command line languages – Monero have already thought ahead to add language capability to their command line wallet manager – allowing complex use of the product by a handful of languages. It will make it much MUCH easier for us to integrate additional languages into the compiled command line wallet manager.
Small transfer fee introduced.

I’d also like to let everyone know that based on our stress testing we’ve introduced a small (tiny!) transfer fee. The fee is 0.01 Electroneum (or 1 eCent as we’ve been calling them) for any transfer.

We’ve done this for a very good reason, and it’s not to further reward the miners or to take any profit ourselves (that small fee does go to the miners) – but to protect the Electroneum blockchain.

It came to our attention while we were stress testing that with a zero fee there was nothing to stop malicious users from automating scripts that just transfer a balance between wallet addresses as fast as they can – indefinitely. This would clog (flood) the blockchain with useless transactions. By introducing a small fee, any automated script would eventually deplete the wallet total and cost the malicious user money. It is unfortunate that we’ve had to do this, as in our Utopian view of the world, we loved the idea of zero transaction fees – but we’ve had to cover this eventuality and protect the blockchain. As such we’ve made the transaction fee as small as our two decimal placed system allows at o.01 ETN. Hopefully this doesn’t offend anybody too much, as it’s lower than just about any other way of transferring value around the world.

Have a great day everyone, we’re excited to get this live next week!

Richard

[Fred Flintstone]

Something like this has never been seen before.  So nobody can really predict where the market goes.

I will say that demand will be huge.  I'm sure people will dump at 2 cents.  I'm sure people will dump at 10 cents.  I'm sure people will dump at $1.

HODL and dictate the price.  Those that get out on the ground floor will be really bummed.

10 cents may very well be like getting out on Bitcoin at 100 bucks.

Although I like your optimism, and I am optimistic about this company too, I just don't see this happening.
One of the main concerns people have about ETNs future is the liquidity of the token.
There are planned uses for it in gaming and gambling features on the app, but those are a ways off.
If millions get the coin through the app only to just try and sell it, the price will only be driven down as there is no inherent value in it.
You can get it anytime and it's only for selling? Why would anyone pay $1 for 1 ETN when they can earn that by running the app in the background?
I plan on selling when it hits 1.5 cents unless I see a major bull run in the near future.

But who knows? Maybe I will be crying as I see it shoot past 10, 50, 70 cents and beyond a dollar.

Thats the same arguement made of Bitcoin since the beginning.

People miss that millions of people on the network will gaurantee a price well over a $1.

"Too many users" causing a crash does NOT add up

[BlackWidow]

Something like this has never been seen before.  So nobody can really predict where the market goes.

I will say that demand will be huge.  I'm sure people will dump at 2 cents.  I'm sure people will dump at 10 cents.  I'm sure people will dump at $1.

HODL and dictate the price.  Those that get out on the ground floor will be really bummed.

10 cents may very well be like getting out on Bitcoin at 100 bucks.

This is correct!!

We have 10% of Bitcoins users before the Blockchain is even launched.

There will be many more buyers than sellers!!