Post
Topic
Board Altcoin Discussion
Re: Is Electroneum a SCAM???
by
jonlorusso
on 12/11/2017, 00:16:15 UTC
Anyway, I've read through the whitepaper since I discovered the coin a few days ago. On paper, it looks very interesting. I can see the appeal of the coin. The only thing I'm really not sure about is the mobile mining part. I mean I use my phone regularly within a day and well, the battery does end up at 30-40% most evenings. I don't see mobile mining as something viable unless you keep your phone plugged in a power source.

The whitepaper explains that the mobile mining (they call it a "mining experience") is just a simulation. Your CPU  capabilities are sampled and you are credited some number of coins proportionate to this. IMO this is more akin to staking than mining, but it also sounds pretty fishy to me. It was one of the reasons I avoided the ICO.

That said, I do like their "mobile first" approach to crypto. I just think there are a ton of cryptos already and we don't need yet another built by an unknown team.  If you have some value to add, why not improve one of the many great projects already out there. Seems to me like just a money grab.