stfN2128
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July 05, 2018, 12:53:39 PM |
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The rise was after the announcement
The pump is because of the listing of the coin on new exchange. Happen every time! Also since pretty much all wallets are blocked, you simply cannot sell the rally because you cannot move your ETNs. The reason why the "CEO" of this ultra centralized coin makes hastily cowardly rollback IS again the listing on the new exchange. If you go to asics you sacrificing the most valuable thing, and that is adoption. You simply deny 95% of people the ability to participate.
RIP.sorry but thats bs. ETNs wants mass adoption and this is not made by an asic resistent algo. not everybody who use cryptos wants to mine it right? Your "mining adoption" for the newcomers is still given with the "mobile mining" experience. So an asic friendly algo is no argument that the coin is dying  |
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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CharlieCox
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Activity: 212
Merit: 12
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July 05, 2018, 01:00:39 PM |
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ETN plan to be coin for mass payments. Let's imagine that 20000 POS exist on ETN. How they will work while blockchain is blocked around 10 days?
(...) not everybody who use cryptos wants to mine it right? Your "mining adoption" for the newcomers is still given with the "mobile mining" experience. ETN is becoming more and more centralised. It almost feels like the decentralised blockchain is standing in their way. They keep changing the algo, they have removed Monero's privacy features... Why not remove mining altogether? Keep only the simulated miners and replace blockchain with a database. This way they can finally "reinvent" instant payments and be like Visa. |
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Iamtutut
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July 05, 2018, 01:10:07 PM |
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It's so much instant payment that I have a pending transcation (send ETN to an exchange) since for nearly 5hs...
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cryptocurrency_n00b
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Activity: 21
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July 05, 2018, 01:11:53 PM
Last edit: July 05, 2018, 02:54:21 PM by cryptocurrency_n00b |
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guys, we are already ready to fork on electroneum.fairhash.org and we will closely follow how everything goes, join us, we will be happy to answer any questions on our telegram channel https://t.me/joinchat/B-GpfU1DYnzi5mhQ45I3rQEdit: all good with this pool |
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kepas
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Activity: 426
Merit: 11
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July 05, 2018, 01:14:23 PM |
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Next fork will not solve the ETN algo problems. With this approach they show only their incompetence and disprespect to coin owners and ICO investors.
When they did last fork the errors in their blockchain blocked all transaction for almost two weeks. They spent a small fortune on NiceHash to find the block.
After they "roll up" the chain they constantly had a problems with diff calculations. Why another coins do not complain about lack of miners? Because they have a good algo.
In last ETN announcement about miners and planing a fork, they wrote some rubbish. They try to blame GPU miners for speed and errors in their Algo! Hello, ETN team made a rules, made an "offer" and miners only can play by their rules, deciding to mine ETN or some another altcoin.
If they want to fix the thing and avoid "waves of miners" (total nonsense), they have an easy solution with full control. Adopting or developing some subversion of Cryptonight algo, like Alloy, Stellite, Heavy, Argo, Light... This will gave them loyal and stable miners with steady hashrate and fair mining award.
They decide to step back to ASICs. Why? With all centralization and another problems with it. So, probably the community rumors about some possible undertable deal with ASIC producers become more and more visible. Also after that rumors We can see the price decline, despite of lot of good news (Coinbene, beta payment testing).
During the next fork We will get long term harm for ETN. In the first week, because of errors in algo, ASICs will solve the blocks in less than a second. So, We will have a huge inflation of new coins mined in short time. You can understand what a huge amount of coins can do to coin price.
The ICO investors and coin owners were cheated a few times (since beginning, 2 month of locking wallets...) and now with so much unnecessary forks. The simply need to repair and retune their algo.
ETN plan to be coin for mass payments. Let's imagine that 20000 POS exist on ETN. How they will work while blockchain is blocked around 10 days?
everything is very accurately marked! I totally agree with you! |
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kepas
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Activity: 426
Merit: 11
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July 05, 2018, 01:17:45 PM |
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It's so much instant payment that I have a pending transcation (send ETN to an exchange) since for nearly 5hs...
same issue with my a pending transcation  and if this exchange is cryptopia - they closed deposit for now! WTF!!! |
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CharlieCox
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Activity: 212
Merit: 12
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July 05, 2018, 01:22:53 PM |
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It's so much instant payment that I have a pending transcation (send ETN to an exchange) since for nearly 5hs...
same issue with my a pending transcation and if this exchange is cryptopia - they closed deposit for now! WTF!!! Same here. I sent a few coins yesterday, the ETN app shows "pending" even though the blockchain mempool is empty now. In the meanwhile Cryptopia stops accepting ETN deposits. So they don't accept it now, but I sent it yesterday. If the status changes from pending to completed, where will my coins end up? |
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boxalex
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Activity: 420
Merit: 13
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July 05, 2018, 01:27:34 PM |
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It's so much instant payment that I have a pending transcation (send ETN to an exchange) since for nearly 5hs...
same issue with my a pending transcation and if this exchange is cryptopia - they closed deposit for now! WTF!!! Wow, so much hypocrisy at once. When the anti-asic fork occured about 10-14 days no transactions have been possible, now you guys cry a river about some hours? What a joke, lol. |
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RivAngE
Full Member
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Activity: 728
Merit: 169
What doesn't kill you, makes you stronger
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July 05, 2018, 01:38:55 PM |
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It's so much instant payment that I have a pending transcation (send ETN to an exchange) since for nearly 5hs...
same issue with my a pending transcation and if this exchange is cryptopia - they closed deposit for now! WTF!!! Same here. I sent a few coins yesterday, the ETN app shows "pending" even though the blockchain mempool is empty now. In the meanwhile Cryptopia stops accepting ETN deposits. So they don't accept it now, but I sent it yesterday. If the status changes from pending to completed, where will my coins end up? In that case the coins will be shown in Cryptopia when the deposits in Cryptopia resume. You can understand that if you think of how the blockchain works... once your transaction is complete, it means that it's written in the blockchain. If an exchange is has paused deposits, then they have just stopped "scanning" the blockchain. Once they resume "scanning" the blockchain your transaction will be read and your Cryptopia balance will be updated. |
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Iamtutut
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July 05, 2018, 01:56:47 PM |
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It's so much instant payment that I have a pending transcation (send ETN to an exchange) since for nearly 5hs...
same issue with my a pending transcation and if this exchange is cryptopia - they closed deposit for now! WTF!!! My coins just arrived on kucoin, but the market is "on hold", so I can't sell them. I've waisted time and electrical power mining them... |
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Iamtutut
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July 05, 2018, 02:14:53 PM |
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Just managed to dump my 1K ETN, got 0.027ETH in return, that I find much much more valuable. Still have 170ETN on nanopool, but I'm not mining the 330 more to get a payment, not worth the time and electricity bill anymore.
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Atomicc
Member
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Activity: 301
Merit: 31
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July 05, 2018, 02:25:30 PM |
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Next fork will not solve the ETN algo problems. With this approach they show only their incompetence and disprespect to coin owners and ICO investors.
When they did last fork the errors in their blockchain blocked all transaction for almost two weeks. They spent a small fortune on NiceHash to find the block.
After they "roll up" the chain they constantly had a problems with diff calculations. Why another coins do not complain about lack of miners? Because they have a good algo.
In last ETN announcement about miners and planing a fork, they wrote some rubbish. They try to blame GPU miners for speed and errors in their Algo! Hello, ETN team made a rules, made an "offer" and miners only can play by their rules, deciding to mine ETN or some another altcoin.
If they want to fix the thing and avoid "waves of miners" (total nonsense), they have an easy solution with full control. Adopting or developing some subversion of Cryptonight algo, like Alloy, Stellite, Heavy, Argo, Light... This will gave them loyal and stable miners with steady hashrate and fair mining award.
They decide to step back to ASICs. Why? With all centralization and another problems with it. So, probably the community rumors about some possible undertable deal with ASIC producers become more and more visible. Also after that rumors We can see the price decline, despite of lot of good news (Coinbene, beta payment testing).
During the next fork We will get long term harm for ETN. In the first week, because of errors in algo, ASICs will solve the blocks in less than a second. So, We will have a huge inflation of new coins mined in short time. You can understand what a huge amount of coins can do to coin price.
The ICO investors and coin owners were cheated a few times (since beginning, 2 month of locking wallets...) and now with so much unnecessary forks. The simply need to repair and retune their algo.
ETN plan to be coin for mass payments. Let's imagine that 20000 POS exist on ETN. How they will work while blockchain is blocked around 10 days?
everything is very accurately marked! I totally agree with you! Thank You! This things are reality,...unfortunately. ETN was one of the most successful ICO in the history. Good project with strong presentation, respectable team and big hype. Future was bright. But...the lack of technical specialists, bad decisions, bad consultants... possible deals under the table (ASIC producers)...it will result with the longterm harm for a coin. How to believe in coin which want to be instant payment processor, if it has big algo issues, blocked blockchain?I hope that they maybe decide to ask for a second opinion of independent blockchain specialists, and realize that possible ASIC producer cash deal, is not worth the future of the coin. |
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PainKiller1986
Member
Offline
Activity: 202
Merit: 11
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July 05, 2018, 02:47:40 PM |
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Next fork will not solve the ETN algo problems. With this approach they show only their incompetence and disprespect to coin owners and ICO investors.
When they did last fork the errors in their blockchain blocked all transaction for almost two weeks. They spent a small fortune on NiceHash to find the block.
After they "roll up" the chain they constantly had a problems with diff calculations. Why another coins do not complain about lack of miners? Because they have a good algo.
In last ETN announcement about miners and planing a fork, they wrote some rubbish. They try to blame GPU miners for speed and errors in their Algo! Hello, ETN team made a rules, made an "offer" and miners only can play by their rules, deciding to mine ETN or some another altcoin.
If they want to fix the thing and avoid "waves of miners" (total nonsense), they have an easy solution with full control. Adopting or developing some subversion of Cryptonight algo, like Alloy, Stellite, Heavy, Argo, Light... This will gave them loyal and stable miners with steady hashrate and fair mining award.
They decide to step back to ASICs. Why? With all centralization and another problems with it. So, probably the community rumors about some possible undertable deal with ASIC producers become more and more visible. Also after that rumors We can see the price decline, despite of lot of good news (Coinbene, beta payment testing).
During the next fork We will get long term harm for ETN. In the first week, because of errors in algo, ASICs will solve the blocks in less than a second. So, We will have a huge inflation of new coins mined in short time. You can understand what a huge amount of coins can do to coin price.
The ICO investors and coin owners were cheated a few times (since beginning, 2 month of locking wallets...) and now with so much unnecessary forks. The simply need to repair and retune their algo.
ETN plan to be coin for mass payments. Let's imagine that 20000 POS exist on ETN. How they will work while blockchain is blocked around 10 days?
You're absoluty right and i totaly agree with you. clap clap |
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contraband (OP)
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July 05, 2018, 03:20:38 PM |
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If you go to asics you sacrificing the most valuable thing, and that is adoption. You simply deny 95% of people the ability to participate.
Actually ETN with it's simulated cellphone mining has the best adoption available to be honest. Just because a handfull switching forth a back miners have a coin less now doesn't mean for sure that adoption will be sacrificed. Right now on the cell phone 131k simulated miners, that's pretty strog in my opinion. I agree, but I think hes right about my question on the increase in price. I think its because of the news of a Top 10 Exchange |
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kepas
Member
Offline
Activity: 426
Merit: 11
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July 05, 2018, 03:33:47 PM |
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If you go to asics you sacrificing the most valuable thing, and that is adoption. You simply deny 95% of people the ability to participate.
Actually ETN with it's simulated cellphone mining has the best adoption available to be honest. Just because a handfull switching forth a back miners have a coin less now doesn't mean for sure that adoption will be sacrificed. Right now on the cell phone 131k simulated miners, that's pretty strog in my opinion. I agree, but I think hes right about my question on the increase in price. I think its because of the news of a Top 10 Exchange it was just small pump, and now - dump: the price is low again, it is a pity that my coins did not reach the exchange and I did not have time to dump them |
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boxalex
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Activity: 420
Merit: 13
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July 05, 2018, 03:37:30 PM
Last edit: July 05, 2018, 04:41:43 PM by boxalex |
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when is the "back" fork going to happen? Any counter or something?
Edit: never mind, it's reversed allready
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Atomicc
Member
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Activity: 301
Merit: 31
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July 05, 2018, 03:38:14 PM |
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I agree, but I think hes right about my question on the increase in price.
I think its because of the news of a Top 10 Exchange
Unfortunately, coin price now declining. Despite of positive news. Coinbene is a respectable big exchange. They delayed ETN listing for the end of July. Probably they are making additional checkups of ETN blockchain. Blockchain with evident problems. Serious exchange can not afford to have listed coin with problematic blockchain algo. I hope that ETN team will not ruin this big opportunity because of some possible ASIC undertable deal. |
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RivAngE
Full Member
Offline
Activity: 728
Merit: 169
What doesn't kill you, makes you stronger
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July 05, 2018, 04:47:43 PM |
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It's funny how we (yes me included) were expecting less miners after the fork and "centralisation". etn.spacepools had 2700-2800 miners before the fork, now they have a little over 2500. electroneum.hashvault had 280-300 miners before the fork, now they have 500 (lol?!) nanopool doesn't offer historic data so I don't know how it changed. So far though we're only 4 hours or so after the change and the ASIC miners are still increasing (aka coming back). Very impressive if you think how close the change was from the announcement. So I guess the GPU farms were centralising the coin  But let me throw one more thing out there... those of you guys who talk about conspiracy theories (Electroneum team accepting a deal from ASIC manufacturers lol), think about the possibility that the GPU miners were boycotting the coin before it change to the anti-ASIC algo in order to push it into changing faster. Maybe those big GPU farms were the reason the price was driven to the ground? |
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br2459
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July 05, 2018, 05:16:51 PM |
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It's funny how we (yes me included) were expecting less miners after the fork and "centralisation". etn.spacepools had 2700-2800 miners before the fork, now they have a little over 2500. electroneum.hashvault had 280-300 miners before the fork, now they have 500 (lol?!) nanopool doesn't offer historic data so I don't know how it changed. So far though we're only 4 hours or so after the change and the ASIC miners are still increasing (aka coming back). Very impressive if you think how close the change was from the announcement. So I guess the GPU farms were centralising the coin But let me throw one more thing out there... those of you guys who talk about conspiracy theories (Electroneum team accepting a deal from ASIC manufacturers lol), think about the possibility that the GPU miners were boycotting the coin before it change to the anti-ASIC algo in order to push it into changing faster. Maybe those big GPU farms were the reason the price was driven to the ground? Speaking on price and with the supply/demand. Wouldn't the price decrease when supply goes up since ASIC's will produce more supply faster? Maybe I am missing something but there is more than just Supply/Demand that depicts coin price.. |
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