[POR]⚡ELECTRONEUM⚡Official Moderated Thread

[CharlieCox]

When will the hardfork come, it seems the next 350~ blocks will take much longer then expected?

My guess, honest GPU miners are rapidly switching to other coins whereas the diff is still very high. Those few miners who are still mining it won't be able to solve blocks with such high difficulty. Realising they don't earn due to high diff, they will also switch their machines to other coins, leaving the ETN blockchain without miners.

I already picture Richard buying hash power on NiceHash again in order to reach the fork block, and begging the GPU mining community for help Karma is a b****.

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[duniakripto96]

the electroneum project now has a very large network, although the price of electroneum coins is now declining, there are still many who keep this coin as an inventory tool for long distances, because many people believe that the electroneum coins will be cerag in the future

[boxalex]

I know I might regret opening this can of worms, but lets hear the reason weve seen the ETN price rise around 50% in the last 24 or so hours?

What do you guys think caused it?

***I think it can only point to one thing***

I think it was caused by slight rise of bitcoin .

actually no, ETN made a huge price jump the last 36 hours, at least 5 times of BTC.
My guess is that investors again have faith into ETN after that gpu mining debakel will be solved now again.

[boxalex]

My guess, honest GPU miners are rapidly switching to other coins whereas the diff is still very high. Those few miners who are still mining it won't be able to solve blocks with such high difficulty. Realising they don't earn due to high diff, they will also switch their machines to other coins, leaving the ETN blockchain without miners.

Actually this could/would be the case if their were no multi-algo-auto mining pools and/or rental services like nicehash. The more traffic you withdraw the more auto traffic gets send there due to falling difficulity.
Your plan sounds good in theory but doesn't hold in practice as you forgot about the mentioned services....

[CharlieCox]

The more traffic you withdraw the more auto traffic gets send there due to falling difficulity.
Your plan sounds good in theory but doesn't hold in practice as you forgot about the mentioned services....

Difficulty gets adjusted for the past 720 blocks. In order for difficulty to fall, the ETN blockchain needs to be able to mine new blocks and progress. Currently it lags behind and difficulty is still very high.

High difficulty = no auto traffic gets sent. My "plan" (it's not a plan, it's a guess as I said in my post) is still valid.

actually no, ETN made a huge price jump the last 36 hours, at least 5 times of BTC.
My guess is that investors again have faith into ETN after that gpu mining debakel will be solved now again.

My guess is that the blockchain is very slow again and those NiceHash miners-dumpers are not able to send their coins to the exchanges. No new coins on Cryptopia means low supply. Low supply means high price.

[boxalex]

My guess is that the blockchain is very slow again and those NiceHash miners-dumpers are not able to send their coins to the exchanges. No new coins on Cryptopia means low supply. Low supply means high price.

You will see in some days if your assumption is correct. I bet on the opposite. Investors again gain faith and believe after the gpu mining debakel .... In some days we will see who was right and where the price go, no matter what we both think about or want it to go....

[kepas]

My guess is that the blockchain is very slow again and those NiceHash miners-dumpers are not able to send their coins to the exchanges. No new coins on Cryptopia means low supply. Low supply means high price.

NiceHash miners-dumpers mine directly to the exchange   just someone filled the bags.
soon asic miners-dumpers will mine directly to the exchange  

[kepas]

My guess is that the blockchain is very slow again and those NiceHash miners-dumpers are not able to send their coins to the exchanges. No new coins on Cryptopia means low supply. Low supply means high price.

You will see in some days if your assumption is correct. I bet on the opposite. Investors again gain faith and believe after the gpu mining debakel .... In some days we will see who was right and where the price go, no matter what we both think about or want it to go....

what do you mean "the gpu mining debakel"?
all real gpu mining hashrate, if you count - nano 9 MH/s  and 5 others pools with <1 MH/s = about 15 MH/s
the rest of the hashpower - nicehash...
and nobody knows where it is mining  

so, it is not "the gpu mining debakel", it is incompetence to make the simplest tuning of difficulty of algoritm  

[CharlieCox]

Don't get me wrong, I want the price to go up since I hold a few ETN coins.

My fear is that this is a temporary rise in price due to the slow blockchain and the blockchain may get even slower in the following days.

[Sun Sky]

I treated ETN as a long term investment, but I'm beginning to doubt now. Because I see that there are problems with mining. I might be wrong ?

[boxalex]

My guess is that the blockchain is very slow again and those NiceHash miners-dumpers are not able to send their coins to the exchanges. No new coins on Cryptopia means low supply. Low supply means high price.

You will see in some days if your assumption is correct. I bet on the opposite. Investors again gain faith and believe after the gpu mining debakel .... In some days we will see who was right and where the price go, no matter what we both think about or want it to go....

what do you mean "the gpu mining debakel"?
all real gpu mining hashrate, if you count - nano 9 MH/s  and 5 others pools with <1 MH/s = about 15 MH/s
the rest of the hashpower - nicehash...
and nobody knows where it is mining  

so, it is not "the gpu mining debakel", it is incompetence to make the simplest tuning of difficulty of algoritm  

It is a debakel. If you go from 3000 MH/s to some 15 MH/s and get time spoofed (no matter if it's a code/dev error) by nicehash gpu traffic that this is a debakel.
This could have avoided as it would not have happened without that useless fork and than only a handfull loyal gpu miners stepping in.

[boxalex]

Don't get me wrong, I want the price to go up since I hold a few ETN coins.

My fear is that this is a temporary rise in price due to the slow blockchain and the blockchain may get even slower in the following days.

The blockchain will recover pretty fast after the fork is reversed for the Asics. Have in mind that the asics speed up pretty fast in my opinion and they
get a blockchain with low difficulty for asic standards.

[kepas]

It is a debakel. If you go from 3000 MH/s to some 15 MH/s and get time spoofed (no matter if it's a code/dev error) by nicehash gpu traffic that this is a debakel.
This could have avoided as it would not have happened without that useless fork and than only a handfull loyal gpu miners stepping in.

it is useless to explain to you that if you hear only yourself and pretend that you do not see the obvious facts
so, never mind 

[RivAngE]

I'm also against going back to ASIC mining, the reason being that everyone can GPU and CPU mine and therefore everyone can get engaged with Electroneum, initially as miners and later as users/investors/traders/HODLers/whatever.

BUT...
This time we're the ones to blame and not the dev team. Maybe not "we" that read this thread, but those we used to follow Electroneum and for whatever reason stopped.
If enough miners would support the blockchain we wouldn't have to run back to ASICs. It's thanks to those who are unable to look a bit into the future and only act on what is the price RIGHT NOW that we will not have enough miners until the price rise and auto-switch software point those lazy miners to Electroneum.

But would the price ever rise if the blockchain continued to be unsteady? I don't know, and obviously the developers are not willing to risk it by waiting to find out when their plans are to sign partnerships.
It's very possible that some of their partners demanded a higher hashrate in order to proceed with agreements. At least as a businessman this is what I'd demand from a possible partner: stability.

Maybe the best possible solution would be a change in the algo which would change the way the difficulty is updated, in such a way that we get quicker difficulty change. Wouldn't that render the strategy of mining with a big farm for a few hours and then leaving useless? Is it impossible to make such a change?

[XmasJohn08]

I treated ETN as a long term investment, but I'm beginning to doubt now. Because I see that there are problems with mining. I might be wrong ?

Yes, you are wrong mate

[Atomicc]

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?

[contraband]

I'm quite amazed by the stupidity of ETN devs.

Because they did not fork their algo for quite a long time after the discovery of CN ASICs, the price dive big time, proving right those saying ETN is a real shitcoin. Then ENT devs decided to fork. Of course mining went down, especially in a bear market but the price was recovering much better than other CN coins, rocketing a +61.9% in the last seven days.

Now, with the devs announcement the coin has lost all credibility once and for all.

Where can I dump the few ETN I've mined ? Won't HODL them, it's useless.

 The rise was after the announcement

[dogtana]

I don't think regular small investors are so happy about ASICs that the price is rising.

One bad scenario is some ASIC whales are buying the coin to bring the price up and then they could mine huge amounts fast again and dump all of it fast again for a high earning. Basically this could be a pump and dump I fear .

[GERGX]

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.

[boxalex]

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.