Is Electroneum a Scam?

You say Electroneum is a Scam…

What is Electroneum

Electroneum is a company whose focus is on the mobile market combined with cryptocurrency mass adoption The Electroneum ICO was a roaring success back in September 2017 with over 100million participants and over 500000 mobile and web-based subscribers to-date.  Electroneum or ETN cryptocurrency  is a cryptocurrency built on its own Cryptonote blockchain similar to Monero (XMR). The cryptocurrency claims to be “the world’s first common cryptocurrency.”

The ETN cryptocurrency was built with the specific goal of capturing the mobile gaming and online wagering markets. It’s designed with mobile-friendliness, fast transactions, and easy micropayments in mind.

Electroneum Logo

Overall, Electroneum claims to be a vast leap forward over its cryptocurrency competitors. That’s because Electroneum is built for mass adoption and claims to offer “groundbreaking ease-of-use for the ordinary mobile user.”

Mass adoption is what we are missing in the cryptocurrency space. Most cryptocurrencies are simply used to purchase and trade for future profits.

Fanfare Partnership

Fanfare is an awesome video-sharing app where fans can connect with brands through fun videos, cool games and awesome rewards.

See https://queenwiki.com/blog/2018/01/electroneum-review-partners-with-fanfare-global-review/

Electroneum Partners with FanFare Global
Electroneum Partners with FanFare Global

So you say Electroneum is a Scam? Well go talk to Fanfare Global about that.

Xius Partnership

Electroneum  partnered with Xius – See http://electroneum.com/2018/01/05/electroneum-signs-agreement-with-telecommunications-payments-giant-xius/
Electroneum, the mobile-friendly cryptocurrency has formed a groundbreaking relationship with the mobile and payments technology provider, which has an active subscriber base of over 65 million people.

You say Electroneum is a scam. Well go speak with Xius about that.

 

Titanium Partnership and Titanium’s CEO is now Electroneum’s Sr. Technical Advisor

The CEO of EHI and Titanium, Michael Stollaire is working with ETN. Michael is helping ETN filter and find the right exchanges. He has vast experience and contacts, both of which will be incredibly valuable when negotiating ETN’s listing.

In addition to that, Electroneum is hosted on Amazon AWS servers just as Bittrex and other exchanges. They cite the fact that their downtime is due to Amazon’s servers. With that said, Michael owns EHI and has REAL clients and his new company, Titanium Blockchain Infrastructure Services (TBIS) is where Electroneum will be transitioned.

See https://queenwiki.com/blog/2018/01/electroneum-partners-with-titanium-more-exchanges-coming-soon/

You say Electroneum is a scam? Well go speak with Titanium and Michael Stollaire about that. He is available and does weekly updates in youtube. Search for Titanium or maybe Michael Stollaire. Figure it out for yourself.  Do some homework.

Exchanges

They are listed on Cryptopia and have been approved on HitBTC. HitBTC is integrating ETN’s wallet into their system right now. More exchanges will follow. They are currently working with NEXT.EXCHANGE, which will soon allow you to transact and trade your ETN. We estimate that we’ll be up and running within 3 weeks or so.

Many people want them to come out the gate on Bittrex, Binance, etc. If you really understood the ‘process’ to get into those exchanges, you’d appreciate it more. The money they have to pay isn’t the problem. It is the process.  Fortunately Michael Stollaire has much experience with the process being that he was the guy who managed to get XVG (Verge) on many exchanges.

Mobile Mining Beta

On 19January, this was annoucned: MOBILE MINING BETA UPDATE

We are happy to say the mobile mining beta has started.  And Please doon’t start with the mining argument. We all know it isn’t REAL mining. The coins are pre-mined specifically to award and distribute to the masses for tasks and participating in many of the venues that will be available. Will this be done over night? Of course not. Don’t be silly.

They also wrote:

Over the course of this week we completed some internal (and commercial partners) testing which was very successful. We have now sent it out to the first 100 applicants for the beta program.

Once we have completed this round of testing we plan to roll it out to more people to test the scalability of the miner, allowing many more applicants to gain access to the mobile miner. At this stage we will also be adding some additional features.

Check out the demo https://www.facebook.com/electroneum/videos/1945639132364722/

You say Electroneum is a scam? Well why do they continue to work and work and work on improving their product offerings, their infrastructure, and adding smarter people in the tech space into their company? Why of course Electroneum is not a scam!

Should the mining app have already been completed? Well we would have loved that.  Welcome to the world of software development!

 

 

Conclusion and Challenge

Does Electroneum have issues? Yes! So does Microsoft and they are a technology company. In my opinion, Microsoft Windows is a big ol suck wind. But it took them time to get there. LOL!

Does that make Electroneum a scam?

I think that our vocabulary has changed over the last few years.  We write one sentence replies and comments in social media, bitcointalk, reddit, etc that “xyz is a scam”. We don’t provide a premise nor supporting facts to justify the conclusion.  I should do a writeup on the ‘the global intellectual dumbing down and the psychology of sheeples’.

But I digress…

We have to understand that crap happens with ALL startups. Go on…. start up a business.

Electroneum’s  infrastructure isn’t the best which is why I am pleased that Michael Stollaire stepped in with his expertise. His developers will be all on this.

Every company makes mistakes. This isn’t just a cryptocurrency or blockchain play like many coins. This is a business focusing on mass adoption of crytocurrencies in the mobile space.

Can we ever root for the success of a company … EVER? Can we ever put the the knives and guns down while being patient even when deadlines are missed?

Do we always have to run screaming scam when either we don’t understand, or we are just repeating what Jane told Bob told Johnny told Iris told Mohammed told Miir told … ?  Can we stop the “scam screams”  just because a company makes mistakes, misses deadlines, does a bonehead dance, or gets something wrong?

Everyone wants perfection and when things go south, we scream SCAM. We need to better manage OUR  expectations and stop looking to buy Lambos 2 week or 6 months after an ICO.  That is quite simply cuckoo for cocoa-puffs. At least Electroneum is doing MORE than MOST companies are doing POST-ICO.

Aren’t we tired of ICOs where their whitepapers are a bunch of fluff and post-ICO, they suddenly go quiet while the first movers dumped their coins quickly for profits? If that is what you want, there are plenty of ICOs like that.

Did they do some things wrong? Yes they did and they owned up to it.

Is Electroneum a scam?  Just comment below and let me know why you think so. And if it makes sense to me and backed by facts, then I will be forced to take a look at your premise, supporting facts, and conclusion.

Disclosure: I am a supporter of the Electroneum’s mass adoption business model and I hold ETNs in my portfolio.

 

Electroneum is available to trade on Cryptopia here: https://www.cryptopia.co.nz/Register?referrer=queenwiki

Sign up for Free with Electroneum TODAY by downloading their mobile app.
Use CODE: 3A8B32

Until Next Time…

Faith Sloan “QueenWiki” 
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Queen Wiki

Faith Sloan better known as "Queen Wiki" or "Crypto Queen" is a cryptocurrency enthusiast and trader. She has been a software engineer for 40 years and builds Decentralized Apps (DApps) on the Ethereum blockchain and plays with Tech toys. When she is not teaching, researching and writing about Cryptocurrencies, she's traveling the world and feeding her eating hobby.