[POR]⚡ELECTRONEUM⚡Official Moderated Thread

[new24core]

How about adding more exchanges in order for mass adoption to work 

You cannot achieve mass adoption through exchanges as they are a limiting factor.  They may help in the short term but they will also amplify issues such as manipulation. 

Exchanges are like oceans and I think ETN is wise to stay in just some small oceans.  Once we have some solid news then like explore more oceans.

[1715609571]

1715609571

[kepas]

The devs are working on a solution.

The best solution would be another fork. However, we have just went through a fork so this is not going to happen soon. Another solution would be an increased number of (real, small) miners. These miners will come "organically" after the price of ETN has increased.

So, we may assume the team will shift their focus on the price. Which is a good news for early ICO investors and holders.

here is solution:

Adaptive Difficulty (LWMA)
What is Linearly Weighted Moving Average (LWMA)? LWMA allows for the
protection against sudden hashrate variations including “hash attacks”. The Algorithm
ensures that a block is mined every 175 seconds on a window size of 60 blocks. Big
miners can no longer come in, mine and leave the network with a high difficulty to
resolve. LWMA allows the entire network to react very fast in case of miner attack (2
or 3 blocks). What does this mean? Small miners and big miners have equal weight in
this game.

I wrote about it twice!
what are they working on there?
what is the increase in the price of this problem?
and it's been a month since the fork.
why it was impossible to provide at once?
then they would not have to mine for days with wild diff after asics
and there would be no problem with attacks on the network from nicehash...

[BtcVolcano]

Now looking at the graph it seems that the coin groped the bottom and perhaps there will be growth. In General, quite confidently the coin is held on the CMC and it says a lot. Tell me your coins now, you can still get on the phone as it was before or not?

[CryptoDocker]

Going back to Cryptonight is such a bad idea this will officially kill off the coin

[Melfyce]

I honestly believe that returning back to an asic-friendly algorithm is a seriously bad move. Sure in the short term it might help ensuring network stability but in the long run it will make Electroneum centralized i.e. that most of the coins are going to be in the hands of relatively few people. I really hope that Richard Ells and his team reconsider their decision because this fork is a major letdown to the community in my opinion. I mean, for real how many people do even own an ASIC. The vast majority of people don't. And to further strengthen my scepticism they say something like this:

Quote: "There is a further development. The first generation of hardware called an FPGA miner is arriving during 2018 and they make ANTI-ASIC capabilities a thing of the past, as they circumvent the slow delivery time of new ASICs by being re-programmable. If we are ready to embrace these rather than fight them, our network hashing power is increased further and our network stability and security is further enhanced.
Because ASICS run cooler, quieter and use a fraction of GPU rig power, they are suitable for MORE people to run in their homes. If you are interested, a search of “Cryptonight ASIC miner” in Google or Ebay will find the equipment needed to mine Electroneum. You will need to be reasonably technical to achieve this!"

This sounds like a friggin advertisment for ASICs, wtf O.o
It makes me wonder if there is more in it than meets the eye. Either the Electroneum team has a secret arrangement with ASIC suppliers and get a share or they run ASICs themselves in their offices, which honestly would explain a lot.

TLDR: Bad move Richard Ells! I'm disappointed!

[PainKiller1986]

I'm absolutely disapointed, really. are you kidding US sr. Richard?

Very Bad "solution"

[sammyp]

Any idea as to when the app will be available on AppStore? I don’t feel safe keeping my Elecctroneum packed in exchanges any more.

[kepas]

 A new phenomenon has emerged where a number of users are mining Electroneum in waves. They come on and then leave after a few hours in a coordinated manner to mine ETN in a completely selfish way. We can’t blame people for maximizing their profit, but we have not built up the amount of “hashing power” that is required to make this impossible and create the stability we need in the network.

WHAT??? "mining Electroneum in waves"   wtf?
it's like a bad dream...
why do they mislead people?
it's a couple of people who use nicehash, but NOT fair miners!
developers found it too difficult to make a small tuning of algo, which is even known and implemented in other smaller projects.
instead, they spit on the community and honest miners and went back to asics...

this once again indicates the low level of etn devs

ok, goodbye etn  


absolutely disapointed  

[contraband]

I know this will be disappointing to the many of you GPU Mining.

I would suggest mining something else and use the profits to buy one of these new machines, or just take your profits and buy ETN on the market.

If new miners are coming out, that are ASICs that can beat algos that are ASIC Resistant, then that is the issue here, not the decision the Devs just made.

Like I said, I know this is disappointing to many of you, but if this is a widespread issue that will affect our similar POW competition as well, its the new ASICs that are coming that everyone should be upset with, not the Devs that are making a wise decison and getting out ahead on this.

These new "ASICs" that are reprogramable is a disappointing development in crypto as a whole.

Its comforting to see that we have a Dev team that wont let developments such as this affect the success of the project and its action steps and goals, that will make Electroneum the first coin to achieve true mass adoption.

Everything is still on schedule!!


Everything will be ok,



Contraband
ETN Community Manager

not an unbiased mod or admin  ; )

[kepas]

I know this will be disappointing to the many of you GPU Mining.

I would suggest mining something else and use the profits to buy one of these new machines, or just take your profits and buy ETN on the market.

If new miners are coming out, that are ASICs that can beat algos that are ASIC Resistant, then that is the issue here, not the decision the Devs just made.

Like I said, I know this is disappointing to many of you, but if this is a widespread issue that will affect our similar POW competition as well, its the new ASICs that are coming that everyone should be upset with, not the Devs that are making a wise decison and getting out ahead on this.

These new "ASICs" that are reprogramable is a disappointing development in crypto as a whole.

Its comforting to see that we have a Dev team that wont let developments such as this affect the success of the project and its action steps and goals, that will make Electroneum the first coin to achieve true mass adoption.

Everything is still on schedule!!

reprogrammable asic is a mith.
if it will reprogrammable then it will have hashpower is ten (or much more) times less or it will be too much cost (not profitable).

[contraband]

I know this will be disappointing to the many of you GPU Mining.

I would suggest mining something else and use the profits to buy one of these new machines, or just take your profits and buy ETN on the market.

If new miners are coming out, that are ASICs that can beat algos that are ASIC Resistant, then that is the issue here, not the decision the Devs just made.

Like I said, I know this is disappointing to many of you, but if this is a widespread issue that will affect our similar POW competition as well, its the new ASICs that are coming that everyone should be upset with, not the Devs that are making a wise decison and getting out ahead on this.

These new "ASICs" that are reprogramable is a disappointing development in crypto as a whole.

Its comforting to see that we have a Dev team that wont let developments such as this affect the success of the project and its action steps and goals, that will make Electroneum the first coin to achieve true mass adoption.

Everything is still on schedule!!

reprogrammable asic is a mith.
if it will reprogrammable then it will have hashpower is ten (or much more) times less or it will be too much cost (not profitable).

It WAS a myth

It will no longer be a myth very soon

Apparently, the prototypes work, and they have reached the mass production stage.

I guess its possible that they fail to deliver on their promises, but we cant count on that, as there is no reason to doubt their claims.

Its a game changer for GPU mining in general, and not a happy one

[dogtana]

I think people may fear further price drops because asics are greedy and they dump?

[contraband]

I think people may fear further price drops because asics are greedy and they dump?

Yes, we will see some of that. Im not sure how much more ASIC miners will dump as compared to GPU miners, but I would agree it is more.

Here I think its also important to note that the ASICs cant make the algo emit any more coins than GPUs.

The same total # of ETN per day will emit no matter which way you are mining.

As for price, Ive said before that we are most likely going to see a downturn for awhile, until we have more demand.

I dont think the fork will affect the price much. Everyone thought the price would go up after the fork we just had, but the downward trend continued after it happened.

Price is not expected to go up until there is more demand.

[new24core]

Going back to Cryptonight is such a bad idea this will officially kill off the coin

I am concerned about the move but I in two minds as I'm not sure if this a bad thing or good thing.  Let's face it ETN had two options and these are :-

Background
A recent fork was introduced to stop ASIC dumping their loads and driving the price down.  Maybe we rushed the decision as the price still went down anyway.

Problem
We have some good news coming but the block-time is all over the place due to lack of GPU miners and a deficiency in the algorithm.  GPU miners are fickle people and will mine the most profitable coin.


Option 1 - Apply another algorithm tweak

Pro
1. Will show that we have the skills and knowledge to implement a change.

Cons
1.  It will take time
2.  You never know the impact of a change until it gets into the real world.

Option 2 - Revert Algorithm and re-introduce ASIC miners

Pros
1) It works and we cannot fuck it up honest.
2) Block-chain should stabilise.

Cons
1)Are there any....
2) There will be no GPU miners and the block-chain will be centralised by large miners in China.

Recommendation
This is a tough one to call as I'm not 100% sure on the impact of option 2 / con 2.  All I can say is that this saga is no over even after this fork!  

[CharlieCox]

Wow, I was wrong! I said yesterday they will not dare to go through another fork any time soon. And they did just that! This is the anti-anti-ASIC fork 

Hey, partially I understand. Introducing a more agile adaptive difficulty adjustment fix requires coding. And we all know how bad these guys are at coding. As of me, I'm letting this project sink down the CoinMarketCap list. I'll either point my rigs to Monero or rent them on NiceHash.

[mfyilmaz]

I think this is a really bad move for the community and this will drop the price of electroneum in the long run... maybe it will stabilize the network but for what cost? Cryptonote is made for gpu and cpu mining and if you dont follow their ideology then why use it? There are tons of algos that would suite better to electroneum... but however I am some kind of dissapointed but will still hodl my coins... hope things will go better in the feature because you cant give up controll over something so important to a hand full of people living in china...

[JoenNL]

I think this is a really bad move for the community and this will drop the price of electroneum in the long run... maybe it will stabilize the network but for what cost? Cryptonote is made for gpu and cpu mining and if you dont follow their ideology then why use it? There are tons of algos that would suite better to electroneum... but however I am some kind of dissapointed but will still hodl my coins... hope things will go better in the feature because you cant give up controll over something so important to a hand full of people living in china...

Well that all depends on the miner if the price will drop or not.

Did BTC drop when the asics come? Did BTC drop in the long term after the asics release? No it didn't.

Also it looks like there will come more and more (and more different) cryptonight miners, so it seems they will gonna push that part of the algoritme.
Anyway if u look at the prices; 220Kh/s - 500 watt = 1900 dollar (out of stock), it's getting tricky if u buy this one. It's the best miner but what will be the price over 1-2 months?
Maybe there comes an 1Mh/s - 500 watt = 200 dollar miner, then ur focked with that 220kh/s miner..

In this stage i will wait till there are more and more different cryptonight asics. If there don't come more and different miners then there will be a problem


Anyway, if u look at the BTG fork last night, they did it very, very well. From a big asic farm coin to an (directly) perfect working BTG - GPU miner community.
No sh1t from nicehash, no sh1t with high diffs and low rewards, it worked perfect instantly!
They looked at all the problems with Monero and they fixed all the issues with the Monero V7 fork.

So ETN must go back to the asics to get a more stable network (and this is what happened) or they should fix the issues and get a stable network for GPU miners.
From the other side, you can't be forking everytime a company created an ASIC for the new algo, it's a race what will never ending (BTC community also saw this so they are just 100% asic now..). Also in the long term, GPU miners cost a lot, a lot of electricity in compare with asic miners. But at this stage nobody can say what is beter, ETN take a risk to go back to ASIC. However, this GPU mining situation was also not good (thanks to nicehash for focking it up).

We will see what the time bring to ETN, nobody can say: this is bad or this is good, nobody can look into the future.
If you would compare ETN with BTC, everything will be find.
If the cryptonight asic companies will let the algo die, ETN will also die.

There are 2 facts right now;
1. price is rising. This is the only fact, about the future it's only gambling right now.
2. GPU miners should move to another coin, sell the coins and buy ETN with it.

[contraband]

Wow, I was wrong! I said yesterday they will not dare to go through another fork any time soon. And they did just that! This is the anti-anti-ASIC fork 

Hey, partially I understand. Introducing a more agile adaptive difficulty adjustment fix requires coding. And we all know how bad these guys are at coding. As of me, I'm letting this project sink down the CoinMarketCap list. I'll either point my rigs to Monero or rent them on NiceHash.

They can code just fine lol

[JoenNL]

Wow, I was wrong! I said yesterday they will not dare to go through another fork any time soon. And they did just that! This is the anti-anti-ASIC fork  

Hey, partially I understand. Introducing a more agile adaptive difficulty adjustment fix requires coding. And we all know how bad these guys are at coding. As of me, I'm letting this project sink down the CoinMarketCap list. I'll either point my rigs to Monero or rent them on NiceHash.

They can code just fine lol

Yeah i don't doubt that (heya since the last mobile wallet update some words are in English instead of Dutch (Netherlands). When going to the page where you can send or receive coins some translations went wrong haha)

--
So for the negative people i want to ask some questions:
what if ETN decided to stay on Monero V7 and over 6 months there comes an Monero V7 asic?
Should ETN do a new fork to be asic resistant again?
What do you think what will happen with all the pools, companies and miners (they must fork also..)
How do you think when ETN is global accepted and there are forks every few months to stay asic resistant?

Let me give an answer on this;
People will stop adding and updating all the forks, companies want a good working system and not fork every few months with everytime the same risks of problems.
So, if you want to be serious, if you want to be global accepted, u must allow asic miners. Only with doing this you dont need to fight non stop against asic companies.

Oké. this is my answer on my questions, now i would like to see the answers from the negative people (again, try to use ur brain and think forward).

[chafer99]

Why Monero no problems with asic-resist? What is "instant payments"? Transaction without confirmation? It's a scam?