Electroneum, any good?
Updated 25th Feb 2019
Instead of mobile mining they're now using cloud mining which is good because your phone doesn't have to get heated and it can operate for 7 days before you need to activate it again to prove you're human and not a bot. I'm a bit sceptical about the selfies to prooove you're human though. You also have to wait til it reaches 100 ETN for a payout instead of 10 but at the current rate it is worth it. The company have also created a mobile that can do Etn payments like a debit card payment in Africa so this may have a lot of potential for currencies with issues and you help people from developing areas.
Original post below
Someone enthusiastically told me about a cryptocurrency and how it could be good recently, so I looked into it and thought I’d give it a go since there is no investment needed upfront because they’ve made an app that mines (gets the currency ETN) it is not technically mining on the phone I think it is just connected to their servers that is mining on your behalf but either way it does produce ETN once you’ve set up the app and it can run in the background but does use up your phone battery.
The Benefits
It is free cryptocurrency so why not take advantage?It is meant to be spendable soon through many places (coffee, shopping)It could increase its valueNo investment needed the app just producesIt is meant to help economies that don’t have a stable economy but many people do have phones to take advantage of the situation and have an online account or way or transferring money and paying for goodsIt is backed by someone who has a successful gaming business alreadyIt is going to be linked to gaming soon according to the developersThe more people join the more the value should increase
The disadvantages
Apparently the people behind it have hyped it up so much that it seems too good to be trueThe amount of interest was supposedly faked through Facebook accountsThere is a lot more currency available in comparison to BitcoinFor all the claims it hasn’t increased yet as much as they are expectingYour battery will drain fasterPeople believed it will be inflated and then dumpedApparently the developers want to expand into too many different areas
The points mentioned are just from what people have been saying and believe so it’s up to you to way up the pro’s and con’s. I am in no way encouraging investment but the app is free and the mining (gets you ETN free).
If you do get the app there’s a referral system so use me by entering my code: BDE7F5
Lets do this!
I get 5% for everything you mine and you get 1% for everything you mine (I think it is added up when you reach the fresh hold of £10) I am not sure but still no harm in getting more for yourself and more for me.
Could the next person use my code BE3B36 since I used allusive
Thanks it shows someone added to my ref list. I guess i should get mining so we both get extra
Let me know how it is going
I just started to day to see how this works. So far I got 0.21 we will see how to is tomorrow.
Ok that's good.
How are you finding it? Did you get someone to use your referral? It does help things speed up.
How's it going? Now that the value has increased?
I did notice as the price went up the coins I earned perday has went down. When it was at $0.005 I was getting about 10 coins a day but now that it is at $0.02 it is taking over a week to get 10 coins. Not sure why is slowed down so much. I did get 2 referrals under me now so that does speed it up some too as I can see they are making me coins too. Thanks for asking
Now they're doing cloud mining do you think it's better? Did you get any referrals?
Yes it is much better my referral is BE3B36 that would help me out.
Congratulations @allusive! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.
A friend was going on about this a few weeks ago, I was going to sell half of my XEM to buy some.
How much have you managed to mine so far, and does it make your phone super hot?!
Cg
the phone gets hot and the battery drains but you find that it stops every now and then so you can prob mine 1.5 etn a day depending on how willing you are to keep opening the app and checking it hasn't stopped. You need 10 etn before it pays you. I've only managed to mine about 4 times the value of it has decreased and I'm not sure time and electric wise it's worth it. But it is free doesn't hurt to have some just in case it is worth something soon.
Thanks for the info, maybe I'll try and get an old phone working on it. Who knows? If it increases in value it may be worth it in the long run :-)
Cg
yeah it's worth a try use my ref link please (in the blog) I get extra and you do too.
Is it worth selling XEM since it is so low ? you must of bought for more so HODL until it is worth bit more than what you paid or just mine ETN no need to buy.
Congratulations @allusive! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.
@allusive, I'm waiting for the continuation of the topic
In what sense? I've replied to Crypto...
What else would you like to know about it?