Money Talk

Electroneum Mobile Mining - Anyone else doing this?

Submitted by dalata, , Thread ID: 95510

Thread Closed
14-07-2018, 11:08 PM
#1
So my friend recently showed me Electroneum, and I never mined before and I'm also pretty newb in the cryptocurrency scene, but...

It got me interested, so I tested it out. Figured out I was making an average of 0.2 ETN an hour with 30 h/s. So I connected more devices with the same account to see if I would mine more. It seemed to step up a bit, but nothing special (in the end this was an illusion, it didn't matter how many devices I connected with the same account). Later, connecting more devices, each of them 30 h/s, resulting in a total of 300 h/s (10 devices) with the same account made almost no difference (My friend was mining on his phone simultaneously and made pretty much thesame amount of coin). So.... I did some research, and found out that the so called mobile mining is all a simulation. Apparently, the app only mines "as if" and you receive "free" ETN in return for just keeping your device online and running the app in the background. Crazy, huh? I also discovered that you could mine more with multiple devices with the same account before, but they disabled this.

To justify the mining simulation, ETN claims that it is a strategy to expand its user base, motivate investments and partnerships.

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So I decided to do more tests. What if I actually mined ETN with ~300 h/s? I started mining with my notebook and connected to several pools to see the results... and they were nowhere near what I could make with one phone going at the so called "30 h/s". What makes this even more interesting is that, if multiple accounts are owned by one user, with multiple devices, he can "steal" ETN like crazy! And I'm sure people are using multiple accounts with this coin on their phones...

If you're thinking of doing this, I'll give you a few heads up - every account will need to have at least 5 ETC in its balance for you to withdrawsince transaction fees can cost from 0.10 - 5.00 ETN. Also, emulators can be blocked.

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I feel like this cryptocurrency is sosketchy because of all of this, but everything about it is legit at the same time. What are your thoughts?

Funny thing is, there are a lot of people who actually defend this currency and believe in it, hoping it will rise in value.

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Who knows, maybe Harry's right?

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