Research Team led by Mr. Bunny Chaser
Electroneum (ETN) Executive Summary
The “mobile cryptocurrency” left all of us in awe when it launched the $80 smartphone to mine ETN. One of the most popular ICOs of 2017 that took an extra step to do the promotions for Electroneum. Electroneum has very adversely changed the way money is transferred in the third world countries like Nigeria by introducing an extremely user-friendly consumer grade cryptocurrency. With immediate edges to the mobile operators in those regions, as well as purposeful transactional value savings, there are operators who might take them to well over one hundred million users and plenty of the operators are in negotiation. Their distinctive mobile manual laborer puts a little quantity of ETN into the hands of users a day, providing market liquidity and driving growth. With 2,341,445 million registered users, Electroneum grew quicker than both Facebook and Twitter over the identical period of time! The Electroneum managed to boost forty million dollars through their ICO. Their GitHub unleash was on November 1st. However, before the launch of the mobile app, electroneum was hit by a distributed denial of service (DDoS) attack. The team had to stop working their servers and work over twenty-six hours straight to cope with the attack. Eventually, after some delay, ICO investors were distributed their coins and Electroneum continued operating towards their goal of spreading ETN to the plenty. Over 690 million ETN were transferring throughout the primary twenty-four hours, requiring solely 430 ETN in fees.
Electroneum calls itself the primary British based cryptocurrency. The team of twelve are based in Kent and are headed by Richard Ells, the co-founder of SiteWizard and Retortal.com. James Atkinson is the head of the Electroneum Development Team with over ten years of expertise in development. He’s leading the charge on the Electroneum App. nice respect is given to Dean Cole, the “member of the team with the smallest amount of sleep… overwhelmingly large quantities of caffeine.” He maintains and develops the servers needed for mining and transacting in Electroneum.
There are many gambling websites already using Bitcoin, however, the matter is that it’s exhausting for many individuals to get it. The bulk of online gambling takes place outside of America, wherever it’s particularly laborious to accumulate Bitcoin. Most countries don't have access to Coinbase or Gemini and their native exchanges typically have 7% fees or higher. Electroneum once more hopes to scale back friction and inspiring gambling sites to just accept the currency. You’ll complete a fast transfer and be part of a mining pool immediately here. The average block reward is about 11000 ETN. Electroneum has conjointly inflated its palatableness to the common shopper by capping the whole range of coins at twenty-one billion, moving the decimal point 2 places to the proper compared to Bitcoin that is capped at twenty-one million. Whereas a pizza pie in Bitcoin may cost a little 0.005 BTC, with Electroneum it'd be way more like a ‘real money’ figure. Richard Ells, the founding father of Electroneum and knowledgeable tech entrepreneur, said: “I don’t know if you’ve ever tried buying any Bitcoin, but it’s really hard to do! I realized that what the world needs is a cryptocurrency that's genuinely easy to access and use. We’ve developed Electroneum with the ordinary mobile user in mind.”
Recall that day when you were bored at home and your phone was running low on charge. You do the obvious thing. Hunt for the charger to save your phone from dying. And the last thing you hoped for happens, there is a power cut. We only realize the necessity of something once we lose it. The couple of hours we stay away from our phones makes us panicky and anxious. Our generation is fucked. We are so glued to our devices we often forget the importance Electroneum have garnered into our lives. It’s not just you and I, but over two billion people that use mobile phones. A market worth $3 trillion dollars into the cryptocurrency space. We all can’t do away with our smartphones and Electroneum has exploited this avenue to make the ordinary people get into this exciting space. We all know that without adoption, this space can never grow, bringing in an average guy to use cryptocurrency for his everyday transactions from his phone would make life much simpler and also take a leap towards Web 3.0
To be honest Electroneum project looks like a pile of garbage tech but extremely amusing marketing.
I suppose most of the team consists of people who can put anything on the line to get their product sold. Huge banners all over the web, even some real size posters and flyers in the streets of the United Kingdom. Electroneum has done hard-core marketing to get to the mouth of every crypto-enthusiast.
Electroneum claimed to be the ‘easiest cryptocurrency to use’ did somehow manage to raise huge sums of money by making all fake claims about being ‘unhackable’.It’s surprising to see the website have such colourful language. Totally unprofessional. Yet the fan base of this coin is ever growing. Countries that are considered to be the third world have adopted this faster than the rest.
What’s the first thing that comes to your head when I say the word “mining”? It’s either the typical mining of minerals or the cryptocurrency one. Big farms and huge mining rigs setup that works day in and day out to mine digital gold. We all wanted to have our own share of money generated from this computing power of our devices. The future is now. All you have to do is download an app and make money off it by mining. Well, let’s face it. Electroneum doesn’t do the actual mining on our phones. If that were the case, you would be carrying an 80-degree hot brick in your hand. Phones aren’t made for mining. Yet electroneum lets us benefit from the hundreds of dollars we spent on our OnePlus 6 to get the speed. What it actually does is it calculates the approximate amount of coins that can be generated using this computing power. That’s where the money comes from. In my opinion, this is gravely flawed. We are making money out of thin air. It’s surprising that this has led to massive adoption.
How To Mine Electroneum On Your Phone?
Simplicity creates value. Yes, the only reason ETN has made a name for it would probably be the simplicity of its application. Just a plug and play kind of setup. No complex bullshit of setting up the hardware, going to the command line and checking the code etc.
- Mining Electroneum couldn’t have been easier.
Just download the app on your smartphone and create an account on the Electroneum website.
- Use these credentials to log into the application.
- Head over to the Miner tab at the bottom and click the Start Mining button.
Ka-boom. It’s as simple as 1, 2 and 3. You are making money by simulating the activity of mining cryptocurrency. Does that mean it has an infinite supply? Nope, the amount of coins being mined is just the unsold tokens from the ICO and a small allocated portion.
Is it worth mining ETN? How much does it make?
“Ah! Now you come to the actual point Bunny!” This is the most important thing we need to keep in mind while making the choice of setting our device to mine ETN. I would say this is extremely subjective. In my opinion, there are two major factors affecting the actual amount of money you make out of it.
● Firstly, it would be the price of the token. It makes no sense to mine a coin that has no value. Be it you mining 100 coins a day. It’s worthless if they were valued at 0. That would just be foolishness.
● Next in-line is what the CEO, Richard Ells considers to be the deciding factor. The capability of the phone. As stated earlier, the mobile miner just simulates the mining and tokens are added based on the processing power of the device. To put it in a simple way, the app sets a benchmark for your device and according to that tokens are airdropped to your wallet Frequently.
Now that we have gotten these two things cleared, you can expect about 0.3 ETN to be virtually mined every day on an average device. That’s about $3 a month. That isn’t much I guess. Considering the fact that this application though optimized for minimum usage of battery and cellular data, it uses 10% of the battery. We might have to rethink the decision of mining on the phone.
How to mine more efficiently on the phone?
Short answer: Get a high-end phone that has a great processor.
Well, that isn’t something that would lead to adoption. Not everyone would buy such phones for mining. You could just tweak your device for better outputs.
The amount of CPU available for mining determines the benchmark set so you have
to keep as much memory freed as possible. Start with uninstalling the unused apps on your device. Face it. We barely use 5 apps on a daily basis.
Apart from the basic, you can also update your android version for the latest patches and tweaks that could significantly boost the performance of your device. You could also try using other launchers and darker wallpapers to do the magic…
If nothing works, just reboot your device, it’s the best plan.
Electroneum Mining on PC
For people who are looking for some solid gains from mining, they can get an ASIC miner to mine ETN. Everyone goes running around saying that their coins don’t require any specific hardware to mine, they lie to you. They all do. ASIC miners are the ones who make decent money for mining. And how could you potentially increase the profit in that too? Join a mining pool.
All the miners have been through this confused phase of choosing between solo mining and pool mining. I would personally prefer pool mining because the profit factor is usually higher. While selecting a pool, it is necessary to keep a few important aspects in mind like:
➔ Trust - You surely would hate to know that your mining pool just used your computing power for its own gain without giving you any share of the profits.
➔ Fees - The simple logic like the tax, the lesser you pay, the more you have for yourself.
➔ Pool Pay-outs - Some of us like to have an equal share, some of us chose to try our luck. Again this is subjective.
➔ Pool Uptime and Server location - Quite self-explanatory, the higher the uptime, the better. The closer the server, the higher the hashing.
Here are some of the best pools in no specific order:
❖ Poolin - Daily pay-outs and a low threshold of 100 ETN, this one has servers in Asia and USA. Quite clean with trust. Good security
❖ SpacePools - Relatively smaller in size, but do have about 1008 miners connected at the time of writing. The best part about this pool is the ultra-low fees of 0.1%. The User interface looks a bit sketchy but does the necessary.
❖ FairHash - This is also a smaller pool from Russia with servers all around the globe. The real perks of using this pool are that FairHash support exchange wallets making it easy to sell the mined coins.
Electroneum News and Twitter
Again I couldn’t stress on this point enough. Cryptocurrency movements depend greatly on the news. Keeping track of the company’s social media is a great way to keep yourself ahead of the game, but this would need a lot of effort to filter through the all the sketchy promotions that are posted every day. It is necessary to have something that can help you filter the trash from the ones that actually make an impact on the price.
Great numbers in there but the ratio of real to fake followers is something to keep in mind. The recent activity has barely shown any hype in the community. Twitter hasn’t played in favor of ETN here. The Electroneum team needs to build a stronger bond with their twitteraties to get the momentum building.
Blockchain Whispers’ twitter loves to get its members lazy. We strive to filter out the trash and post the necessary updates that would make a significant change in price. This cuts on the annoying spam that the bots send and also makes a concise write up which makes you catch the lows easily.
Twitter is not your thing? We wouldn’t want our telegram community to feel neglected. Crowned with the title of “The Most Accurate Crypto Traders” @blockchainwhispersbaby has never let its most loyal members down. We predicted the big dip before anyone else cared to look through the mirage. That’s not all, we predicted the XRP listing on Coinbase months before anyone could smell things cooking. If you’re gonna skip on this, you would have probably skipped on the best chance to make a better of that trashed portfolio filled with high-risk trades ready to collapse.
“The phone that pays you back”. Sounds like a typical advertisement from a brand that hasn’t made any success. But hold it there. $80 phone and lifetime cash back? HELL YEAH!
Electroneum M1 is a phone with fairly decent specs. Something that could be used by everyone and time and again I’m mentioning the fact that Electroneum is aiming for the betterment of the economically weaker sections of the society, it would be a nice sensation for the project to have the world do the marketing for them. Here’s how it’s a win-win situation for Richard Ells. People buy Electroneum M1, the make some good sales improving the company’s standards. ETN is mined on these devices increases the adoption of his project.
Last but not least, just think why companies like Microsoft gift their employees T-shirts for company’s performance? Marketing. You wear that T-shirt and walk around in your neighborhood. It increases awareness about the project. Similarly, you find a few people using this blue $80 phone in your neighborhood and you’re curious to know more about it.
What would you do? Ask them and they tell you about it. It's infinite marketing. Well thought by the team.
Now you would be wondering why this is such big thing that it’s gonna pay us back? And how long will it be before I get my money? The answer is simple. A rough estimate of 24 months and you will have all the money you invested in buying this phone. But that isn’t the idea here. Electroneum is working with mobile operators to pay phone bills using ETN. That would essentially create a loop. You use the phone to mine and you to use the phone. Again you might be like bullshit my phone bills cost $3, they are way higher. These are baby steps to bring in countries like Nigeria into this technology to improve the overall notion about cryptocurrencies.
The operating systems might have minor differences in installation but nothing grave. I will be covering the Windows setup here.
What if I told you this news was informed on the Blockchain Whispers predicting the upcoming of this mobile miner? Yes back in May 2018 one of the key analysts of Blockchain Whisper announced about the upcoming mobile miner that could potentially revolutionize the way we perceive consumer grade currency.
Knowing When To Buy
Electroneum And When To Sell
Electroneum - aka Trading Signals
BlockchainWhispers.com would probably be the first thing that Google shows when you ask for the Most Accurate Crypto Traders in the world and well, Uncle Google doesn’t lie. We have been proving our worth time and again giving away the most crucial indications about the market in a concise manner. If you aren’t a part of the Blockchain Whispers family yet, it’s high time you should join us. It’s free. This is why:
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● Real Time, Updated Shorts Vs Longs Statistics - On D.A.R.T. page and on Bitmex Signals page you get the most important longs vs shorts stats. It shows you if too many longs vs shorts that it makes sense for the market maker to make one of the very next moves to go down to liquidate longs. Electroneum usually follows the suit. We are the first ones that applied the Bitfinex patch for 2019 and to my knowledge the only one showing the accurate figure from Bitfinex.
● Crypto Community That Cares - Blockchain Whispers is built on love. Members here are not FOMO and FUD maniacs, but well-educated crypto-enthusiast who strive for the benefit of the masses. You surely would love to have strong support during the thick and thin of your life. Here you have thousands who got your back through bull and bear
How Blockchain Whispers’ EAR could’ve helped
What if I told you that 90% of smaller-cap cryptocurrency prices are affected by the news? Cryptocurrencies being a relatively immature market reacts violently to the news. We saw this with ENJ shooting up after a rumored partnership with Samsung. We say MANA boom after they announced that Decentraland will be working with HTC. I could go on ranting about this but you get the idea. If you catch the news early, you can surely drive a Lamborghini.
That’s a simple rule of thumb. It’s necessary to have something to give you the news in a crisp format to quickly read and interpret. This is where a priceless program developed by the coders at Blockchain Whispers comes into play. Our proprietary early news radar technology caught the news hours before the sudden surge in price.
Not satisfied yet? Go ahead and look at the clear warning we sent out before the Enjin pump.
No other platform will offer such quick updates.
Ranked at #68 on CMC on the time of writing, this project has managed to hold its ground even in the toughest markets. Well not exactly. This “heavily marketed” project once managed to hit a peak of $900 million for the market capitalization and did drop to $39 million once. The downfall has many factors, some believe their competitors bettered their efforts while some say the crowd lost interest. In my opinion, the latter fits better.
Looking at the Google trends, the interest in this project has dropped significantly. The hardest part of having a company would be keeping the consumers hooked to the product and in the crypto sphere, no one knows how Justin Sun manages to do this. Great projects like Verge, Rail blocks, Deep Brain Chain and many more lost out on the community’s hopes and did end up in a terrible scenario.
|Electroneum Price||$0.006757 USD|
|Market Cap||$60,929,522 USD|
|24h Volume||$238,167 US|
|Circulating Supply||9,016,945,319 ETN|
|Total Supply||9,016,945,319 ETN|
|Max Supply||21,000,000,000 ETN|
Electroneum Technical Analysis (TA)
Looking at ETN, we are approaching a breakout from a ~6-month symmetrical triangle formation on the daily chart with much vigor.
As we can see bellow, ETN has been having a hard time remaining above any moving average all year. The price was forced down below the symmetrical triangle on the 22nd. Low volume on the breakdown and confirmation of support at 168-170 sat range set ETN up for a phenomenal run, breaking out above the triangle.
Let’s zoom in and look at the 4h chart. ETN has experienced a full re-trace of the week’s move. We are re-testing the established support. Based on the daily chart above, I feel that it is safe to say that we experienced a bullish breakout from this major triangle. The big moves from BTC this week put the breakout on hold, and we have an opportunity to trade the breakout once more. Green candle on support & RSI showing a positive reaction to this support level at the time of writing.
My idea is to take profit at the local close price of the last spike for a substantial 20% with a stop below the established support which would invalidate the move for now.
Additional stats for ETN:
Top volume: KuCoin
BIDS: 7.9375 BTC
WALLS: 0.00000166, 0.00000162, and 0.0000016
ASKS: 11.6735 BTC
WALLS: 0.00000174, 0.00000176, 0.0000018
How to buy Electroneum?
You’re quite hooked to this project and would probably be like “Whoa! I need to buy some ETN!” Well, it’s the old rusty methods. Get on the exchange of your choice and load in some ETN for yourself.
It’s great to see that this is what one could call as an established cryptocurrency. Being listed on major exchanges has proved to be the plus point for this coin making it easily accessible to all parts of the world.
The process is quite simple. Just head over to one of the exchanges listed below and search for ETN. Enter the required amount of tokens you want to buy and proceed.
When you have money you better have it safe. No one likes to see their money being stolen and in today’s era of everything being connected to the internet just makes the bad scenario worse. It’s a must to have your “mobile cryptocurrency” safe.
How to create a wallet?
Bounce off to their website and click on “Create account”. This will redirect you to the registration form.
Now you have to fill in the basic information about yourself in this questionnaire. Be sure you have access to the email address provided and build a strong password that you ought to not forget. Once that is completed you will find an inbox from electroneum. This will contain a link that will complete the registration. Go ahead and click it.
Electroneum calls itself the first cryptocurrency to implement KYC (Know Your Customer) and AML (Anti Money Laundering) laws and does implement it from the very registration. It asks for your name, country of residence and other usual details you will find in any other form you would fill for government documentation. Your data is kept safe from third-parties.
And you have an account on the electroneum network. If you’re looking for something like a downloaded wallet that you can access from your system, you would want to have a look at the guide given below.
Electroneum CLI (Command Line Interface) Wallet
Okay, the non-coders don’t shy away! Command line can be quite intimidating. That green text on the black background reminds us of the scenes from “Matrix”. Well, we sure aren’t doing anything unethical here. This program is quite useful as it lets you do a ton of operations for your wallet like managing the funds of your paper wallet, view the balance, history of transactions, send and receive Electroneum plus it comes with a desktop miner.
Getting the software from GitHub is the first and most essential part of this guide (no pun intended), so just head over to their GitHub and download the latest build. They are available for all major operating systems so you wouldn’t have an issue with this.
The operating systems might have minor differences in installation but nothing grave. I will be covering the Windows setup here.
The operating systems might have minor differences in installation but nothing grave. I will be covering the Windows setup here.
● Get yourself on the command line. You can do this either by searching for “cmd” or by pressing “Ctrl+R” and then typing “cmd”.
● Type “cd Downloads”, and hit enter.
● Proceed by typing “cd win-x64–0”, and then enter.
● Further type “./electroneumd”, this will set up a daemon to help you in synchronizing with the electroneum blockchain. This is quite time-consuming.
● Once the synchronization has proceeded to completion, open another command line.
● Revisit the file by typing “cd Downloads”.
● Now type “cd win-x64–0”, and enter.
● Finally, type in the magical code “./electroneum-wallet-cli”, somethings start to pop up. Don’t fear these things, scripts are launched by the software to create our wallet. Once that’s done you can use it.
Getting this done makes your life so much easier now. Any time you would wanna access your wallet, just launch electroneum-wallet-cli and hammer in your password.
Also, do not, in any case, forget your password because it would get terribly nasty then. Launch the daemon electroneumd because without connecting to the blockchain you will not have access to your transaction history.
Once everything is up and running, you will see something similar to this:
You can use the “help” command if you feel lost. I will list some basic commands that will suffice the whole process.
➢ To check the balance of your wallet, type “balance”.
➢ To know your public address, type “address”.
➢ To transfer token from your wallet to another one type: “transfer RECIPIENT_WALLET_ADDRESS AMOUNT_OF_TOKEN_TO_SEND”.
The life of a company lies in the hands of the people who endorse it. It’s a known fact that the community influences the project greatly. Every now and then, large cryptocurrency related projects hold AMA and other engagements to keep their supporters hooked and to maintain a healthy relationship with them. This is one place where ETN hasn’t disappointed us. Electroneum has a strong community that resides in the forum.
What’s really nice about this is the frequency of updates. Even though there has been a huge drop in value, the community does keep its faith in the twelve member team. Another interesting concept is the segregation of topics such as ideas and recommendations, articles, Exchange etc. Thus making it easier for a newbie to adapt quickly to this system.
Contributions from experienced members reduce the load on the team helping them get through support issues quickly.
This was once called the “old people’s Facebook” and later, the memer’s paradise. Whatever you call it, you have to agree that this place engages some really interesting discussions from all spheres of life. In the world of cryptocurrencies, most companies set up a Reddit to have direct contact with the community. Electroneum boasts a big community of 21 thousand members that have left no stone unturned to keep the momentum roaring.
Electroneum Block explorer
A fairly decent block explorer that has a basic user interface allowing you to do all the basic functions a block explorer ought to let you do. Simplicity does the magic for them and also this reminds me of etherscan.io because of the user interface. The only thing this lacks is it looks slightly messed up with the organization of outputs. It refreshes every 5 seconds keeping the ledger up to date.
The GitHub doesn’t look quite impressive because of the number of commits of this commits on this project. The number of contributors is just 3, not something like the other projects. Even smaller projects get more coders’ attention. I hope the numbers get pumped up.
In my opinion, it's essential for a project to keep updating and patching their code to fix all the bugs just to ensure the whole thing goes smoothly without a hiccup.
Final Thoughts on Electroneum (ETN)
Mobile phones have become an integral part of our society and a huge chunk of our time is invested around these devices. Bringing the future of currency to the palms of individuals is a revolutionary thought. Even more lucrative is the “mobile phone that pays you back”. Something strong enough to bring the crowd their way, as well as set a new baby step towards the future. Just think of the impact this could make on economies. A world filled with Electroneum M1s just like today’s Apple iPhones. Also, the use case that has been seen in African countries is jaw-dropping. Numerous organizations have adopted this “mobile cryptocurrency” for day to day transactions and the consumers too chose this because they earn a share of income from their virtual miners. The team has been working on deals with mobile operators to provide payments for data and mobile phone bills using the native currency. A very sketchy beginning to this company did cause damage to their reputation but in the long run, if they do things with the same enthusiasm, the electroneum team surely can make the difference in society.
The fundamentals have been extremely bullish for electroneum while on the other hand the technical looked like it needs some consolidation. In the worst case scenario, ETN could face a huge drop in value but that is largely unlikely because of the steep correction it has already overcome. Only time will tell whether the simplest cryptocurrency to use lasts its test or just adds itself to the shitcoins list.
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