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Post by Pete on Oct 10, 2017 15:08:27 GMT -6
Hi, I'm not quite clear on this point in the FAQ:- What is mobile mining?- Mobile mining is regular mining done on a phone, which includes getting the phone to solve algorithms, but not adding blocks to the blockchain, and as a reward allocate some coins. and this What differentiates Electroneums kind of mobile mining from the "normal" kind? And how does the mobile mining experience work?- The mobile experience of Electroneum doesn't solve algorithms on a blockchain, but instead allocates coins to your wallet, based on a calulation of how powerful your phone is. All this can be done from the background of your phone. The rate of allocating of coins will depend on the amount of users, the amount of coins mined/in the pool and so on. See the technical paper at the bottom of this post for a further explanation. Does the mobile mining actually do anything useful for the ETN network at all, I thought it was more just a "gimmick" to give people a few coins to help make the thing go viral and get more users? If the latter then why does it need to solve algorithms? The two bits above appear slightly contradictory to me, but that's probably just my lack of knowledge of the "techie" stuff! Thank you for pointing this out. Yes it can be misunderstood, i will correct that! What i tried to do, was with these words "but instead allocates coins to your wallet, based on a calulation of how powerful your phone is." and " but not adding blocks to the blockchain, and as a reward allocate some coins. " was try to tell people that it is not adding blocks to the blockchain. I will update it to sound like this: "Mobile mining experience is mining done on a phone, which includes getting the phone to calculate the potential power of the phone that can be allocated, but not adding blocks to the blockchain, and then, as a reward for that calculation, allocate some coins." I hope that clarifies it Thanks, I'm still not too clear, but this might be because I'm not yet familiar with mining generally having never done it before. Why does it need to calculate the power of the phone? Can't it just allocate some coins to any phone regardless, just because they are running the app and (hopefully) helping to make it go viral?
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Post by Pete on Oct 10, 2017 15:18:24 GMT -6
@ Mathias Hansen: Do you work for Electroneum or are part of their team somehow? You seem you are VERY engaged on the FAQ... so i have a few questions that i dont get a reply from support! I contacted them via this page also in PM but the person who replied did not answer the question.. instead said that their business hours are from Monday to Friday.... so it is odd because that person could had chosen to just answer the question! I am concerned because i never received an email from ETN site confirming that i created an account... so considering that that account is also a wallet and from where i will invest on ETN, it is relevant to me to have at least an email confirmation that i own that account.. as some sort of proof that that account is mine and of my investment on it! There is no way to prove that i own the account and no email confirmation. For a team that seem to have done a massive work on details i find that odd that they forgot about that? Or.. did they do it in purpose? I am thinking since they already collected so many millions that they can have a person designated to answer such important questions 24/7.. the same way the ICO is running 24/7... dont you agree? Hi mate. Sorry for the late reply, have had a few rough days. I am an enthusiastic investor, nothing else That is weird. What e-mail did you use? They usually respond within 24-48 hours no matter what. Sorry that happened to you! The e-mail confirmation caused them a lot of problems in the beginning which is why they chose to remove it. The my.electroneum.com is a very very secure webpage and you just need a good lengthy password and it will be good - add complexity for extra security! They, and we the community, do not recommend letting your ETN stay in your online wallet. Right now nobody can do anything with it; the best thing you can do, is print the offline wallet asap and move your ETN to there after November 1st. The Telegram usually answers questions like this and otherwise you can write their zendesk: electroneum.zendesk.com/hc/en-us where they answer at least 250 support e-mails.. A DAY! I hope they will put up some very clear information about the paper wallet on the app and the website, as it seems to be something that a lot of people aren't sure about! Once ETN gets into the hands of the masses on their phones, it's a different situation to us lot here, who are probably a bit more clued up than many future users of ETN. Without being too rude, as a (hopefully) mass adopted crypto ETN is going to be held by some very stupid people, people who aren't good at looking after their own affairs or money, and it needs to be made as simple as possible for them, so they don't send things to wrong addresses and so they understand stuff like wallets. Also, I posted in the app suggestions thread asking if there will be a currency converter on the app. I think this is important if it can be done... after 1st November, if I talk to someone and casually say "do you know you can earn money just by leaving your phone running?" and when they express interest, show them the app on my phone, if it says I have 344 ETNs in my wallet that will be TOTALLY AND UTTERLY MEANINGLESS to them! But if it actually says there is £6.37 there they will understand it and want to do the same and think "ooh that's two pints of lager innit! I want that!" We have to assume the worst of people... lol!
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Post by Imikocha on Oct 10, 2017 16:32:20 GMT -6
Thank you for pointing this out. Yes it can be misunderstood, i will correct that! What i tried to do, was with these words "but instead allocates coins to your wallet, based on a calulation of how powerful your phone is." and " but not adding blocks to the blockchain, and as a reward allocate some coins. " was try to tell people that it is not adding blocks to the blockchain. I will update it to sound like this: "Mobile mining experience is mining done on a phone, which includes getting the phone to calculate the potential power of the phone that can be allocated, but not adding blocks to the blockchain, and then, as a reward for that calculation, allocate some coins." I hope that clarifies it Thanks, I'm still not too clear, but this might be because I'm not yet familiar with mining generally having never done it before. Why does it need to calculate the power of the phone? Can't it just allocate some coins to any phone regardless, just because they are running the app and (hopefully) helping to make it go viral? No problem! Let me explain it super simple: The app calculates what power it currently could use to mine coins, and gives you coins based on that power-allocation. That means, if you have 50 apps running, you will get less coins, because less surplus, but if you have 0 apps running, you will get higher, because of the more surplus power you have. Running the app is basically calculating the power the app could potentially utilize and rewarding you with coins
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Post by Pete on Oct 10, 2017 17:09:19 GMT -6
Ok, I understand that it calculates the power that it could use, but does it actually use it? And if so is it actually doing anything useful? I thought the mobile app was just to add users to the network, not to supply mining power.
It is the desktop app that does the actual mining? So, I still don't understand the purpose that is being served by calculating the power of the phone...
Sorry, I am still not quite there yet. To put my question simply, in what way does Electroneum benefit from the mobile mining app running on phones other than in adding users?
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Post by botros on Oct 11, 2017 6:20:14 GMT -6
First of all, thank you very much for all the kind words here Lots of negative reviews on the exchanges you're planning to list ETN on. Any concerns? This is just the confirmed ones, there are ongoing talks with other exchanges as well; when they get confirmed, i will update the FAQ. the trader should put negative comments ,,,, they prefer buying it cheaper from investors like u .
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Post by Imikocha on Oct 11, 2017 8:33:47 GMT -6
Ok, I understand that it calculates the power that it could use, but does it actually use it? And if so is it actually doing anything useful? I thought the mobile app was just to add users to the network, not to supply mining power. It is the desktop app that does the actual mining? So, I still don't understand the purpose that is being served by calculating the power of the phone... Sorry, I am still not quite there yet. To put my question simply, in what way does Electroneum benefit from the mobile mining app running on phones other than in adding users? It just calculates the power and sends it back to give information about the amount of coins that need to be allocated to the app. It is not doing anything "useful" in that sense. The app is for transactions, education and gaming as well - Desktop mining will do the real mining. The mobile mining experience is a low cost function to increase take up rate with a low entry-barrier for people who want to get into crypto. Thats it They made it easy to "mine" with the experience. It doesn't supply mining power at all. That seriously is the largest benefit of the mobile mining experience; its take up rate. Likewise it functions as a transaction tool for the offline wallet, and the users can get educated so they can transfer themselves to desktop mining, or get more into crypto; in the end, the amount of users is what will drive the uses for the coin. Everwhere they go and propose the coin, the companies are interested, but want to see a huge take up. That is what this solves. So the more people = the better position the devs are in. Knowledge of the app is inddirectly linked to how many companies will adapt it.
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Post by diver206 on Oct 11, 2017 12:11:31 GMT -6
Let me preface by saying Electroneum is the first ico I have invested in, and I've only been investing in alt coins for less than a year now. So, please forgive me if the answer to my question is well known to everyone but me. Also, to the moderator, if there is a better place on this forum for my post, please feel free to move it.
When watching the ico page and monitoring what Electroneum has raised, I convert the BTC and ETH to my local currency, USD. If I'm not mistaken, their white paper also lists their proposed road map based on token sale earnings in USD.
I'd like to know if the company is holding their earnings from the token sale in BTC and ETH or if they are converting to fiat currency throughout the sale. This is important because, as we are all well aware, the crypto currency market is a volatile one. We have two more highly possible BTC forks coming, one of which may occur on the 25th of this month while the token sale is still happening. The other will likely happen in November shortly after the launch of Electroneum.
When I'm calculating their earnings, I can't help but feel that there is no way to know how accurate my number is. The only way my calculation would be remotely accurate is if they were to exchange for fiat within minutes of my conversion. If their earnings are all held in ETH and BTC, those numbers could change significantly, in either direction, especially with these proposed forks in the near future.
The answer to this question is not one that will influence my decision to invest; I'm already significantly invested in Electroneum, and I'm in for the long term gain. It is just something I question every time I view the token sale stats page, which is often.
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Post by ismail loudiyi on Oct 11, 2017 12:50:53 GMT -6
hello my referral buy electroneum but i don't receive commission in my dashboard just i see it in a social rewards
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Post by Smumbles on Oct 11, 2017 13:05:13 GMT -6
New to this, so bare with me If I make a paper wallet and transfer all of my funds to it (on 1st Nov), do I then scan the private QR code of the paper wallet at a later date to load up my wallet on my phone, or online wallet, should I want to transfer them to an exchange, or should an online seller start to accept them (come on Amazon.co.uk)? Also, I think I read to withdraw funds, you need to exchange them for bitcoin? If you do need to do that, how then do you get the money in £ sterling? Hi! No problem, ask away! Yes! The QR codes or the addresses on your offline wallet is what is going to let you withdraw, deposit and view your balance The exchanges they are listing on should let you trade ETN for £, but i am not sure. That will depend on what deal they make with them, otherwise you might have to exchange it into BTC first. But we all hope for option one, afaik! Thanks for the reply. So, say if I had 100 coins and wanted to 'spend' 200, would I upload 200 to my phone or laptop and then have to print another wallet with different code to store the other 800 offline?
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Post by Smumbles on Oct 11, 2017 13:06:52 GMT -6
What determines what price a coin will be listed at on the first listing day? Supply and demand: How many people want to buy and how many people want to sell, and at what price Nobody knows anything about the price it is going to sell for, as it solely depends on the people who are trading
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Post by Imikocha on Oct 11, 2017 14:48:13 GMT -6
Let me preface by saying Electroneum is the first ico I have invested in, and I've only been investing in alt coins for less than a year now. So, please forgive me if the answer to my question is well known to everyone but me. Also, to the moderator, if there is a better place on this forum for my post, please feel free to move it. When watching the ico page and monitoring what Electroneum has raised, I convert the BTC and ETH to my local currency, USD. If I'm not mistaken, their white paper also lists their proposed road map based on token sale earnings in USD. I'd like to know if the company is holding their earnings from the token sale in BTC and ETH or if they are converting to fiat currency throughout the sale. This is important because, as we are all well aware, the crypto currency market is a volatile one. We have two more highly possible BTC forks coming, one of which may occur on the 25th of this month while the token sale is still happening. The other will likely happen in November shortly after the launch of Electroneum. When I'm calculating their earnings, I can't help but feel that there is no way to know how accurate my number is. The only way my calculation would be remotely accurate is if they were to exchange for fiat within minutes of my conversion. If their earnings are all held in ETH and BTC, those numbers could change significantly, in either direction, especially with these proposed forks in the near future. The answer to this question is not one that will influence my decision to invest; I'm already significantly invested in Electroneum, and I'm in for the long term gain. It is just something I question every time I view the token sale stats page, which is often. Hi mate! Great question! We don't really know. electroneum.zendesk.com/hc/en-us you can ask the devs there, and if you want, you can update me with the answer through a pm and i'll include it in the FAQ:)
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Post by Imikocha on Oct 11, 2017 14:49:01 GMT -6
hello my referral buy electroneum but i don't receive commission in my dashboard just i see it in a social rewards It will be allocated at Nov 1st
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Post by Imikocha on Oct 11, 2017 14:50:21 GMT -6
Hi! No problem, ask away! Yes! The QR codes or the addresses on your offline wallet is what is going to let you withdraw, deposit and view your balance The exchanges they are listing on should let you trade ETN for £, but i am not sure. That will depend on what deal they make with them, otherwise you might have to exchange it into BTC first. But we all hope for option one, afaik! Thanks for the reply. So, say if I had 100 coins and wanted to 'spend' 200, would I upload 200 to my phone or laptop and then have to print another wallet with different code to store the other 800 offline? You're welcome! If you have 1000 coins on your offline wallet, you can spend 200 through the withdraw address/QR-code to the desired exchange/buyer/company The remaining 800 will stay on the offline wallet. It's like a credit card really.
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Post by newborn crypto on Oct 11, 2017 20:41:27 GMT -6
how to check etn wallet
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Post by newborn crypto on Oct 11, 2017 20:57:26 GMT -6
electroneum wallet is already functional
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