Buying The Dip 017: Electroneum BETA Miner
Hello Steemit.
Great news for me personally and for any of you here who are also invested in ETN. A large part of Electroneum's mainstream adoption plan is finally coming to fruition. on January 3rd at 13:13 GMT Elecroneum announced that their mobile mining beta was open for registration. By 13:14 GMT I had filled the document in with anticipation and excitement at the forefront of my mind. On the 19th the beta went live and emails were sent out to people confirming that they had been accepted for the programme and alas my gmail had no email from the team. As a believer in ETN and a current miner of ETN I was saddened that I had not been selected for the first wave but regardless I was happy that the beta was at least out for the lucky few who were accepted (I have a sneaking suspicion having an iPhone might have helped my chances). Fast forward to today and I am currently sat mining ETN straight from my mobile device. Well I say mining, I'm actually simulating mining as that is actually what the process truly is. That aside, what's important is one thing and one thing only: I'm receiving free cryptocurrency. So thank you Electroneum.
Now that the platform for myself is actually functional I am able to discuss a few more details about the ins and the outs of the mobile miner. Firstly, to give an idea at the rate of payout I have been mining from the first word of this post to now (and I'm a fast typer) and have so far accumulated ~0.22 ETN, not bad for doing literally nothing. The UI offers info on your hashrate, your pending balance and the amount of active miners (currently sitting at ~1,350). Clicking on the amount pending gives further details on the payout system with a brief line of text that read "The current payout amount is 5ETN". Some rough maths gives me a figure of between 20-30ETN per day. My phone is a little hot, but I can live with that at around $1.35 - $2.03 a day if this figure is correct, a total of min. $492. 75 a year. Again, this is based on the current price of $ $0.067943 per ETN. Don't forget that ETN was once worth just above $0.22, which would make this figure ~$1606. All sounds rather ridiculous and unachievable right? Ridiculous yes, unachievable no.
This is exactly the type of moves that ETN is looking to make. Whether the mining is simulated or real doesn't matter. What matters is why they are doing, especially if it simulated. Cryptocurrency is still shrouded in mystery for a lot of people, they barely understand the idea of it yet alone the specifics of mining the god damn thing. Electroneum are trying to bridge the gap between those in the know and those who are not, they want to be the cryptocurrency that reaches mass adoption. So far their application has been the easiest and friendliest service I have come across. Bread made comments it hasn't yet fulfilled, Electroneum hasn't. That being said I am very interested in STK and that will be covered at a later date, but for now, ETN looks to be making a surge in the future. Once the mining goes live for all we will see that, I'm confident of it. My dad has Electroneum.
Just reached 0.4 ETN, Lambo incoming.
HJB. CryptoKnight.
May I ask, as someone invested in Electroneum; what do you consider the main sellin points of this crypto?
All I've heard is ease of use.
I'm very skeptical towards mobile mining. Can it really be done in the background on iOS? Your phone is running hot you say. I think that would be quite degrading on the components and battery of the phone in the long run. I do have a bunch of old phones at home. Will people be setting up massive farms using iPhone 5's and such? :)
Firstly, thanks for the reply friend. Secondly, it was only hot because I had it on charge and had the screen set to not timeout so I could get a grasp of the speeds that it accumulated at., as stated in the article, it doesn't actually mine, it just makes a benchmark and simulates from that benchmark figure so fear not. And thirdly, they highlighted in news very, very recently that all the companies they have signed partnerships with (a long list so check their site) have agreed to let ETN by used as a means of payment, all currently within the mobile network provider market. Their ambitions, like most cryptos, are high so I think they will implement this ethos in every deal they make. The app itself is indeed easy to use, but that is by no means it's main feature. It's plans plain and simple are mass adoption. I have a lot of hope in this project still. Hold your ETN, I swear.