Electroneum Wallet Offline

Discussion in 'Cryptocurrency Mining and Markets' started by Jeggs101, Mar 2, 2018.

  1. Jeggs101

    Jeggs101 Well-Known Member

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    Exit scam? Electroneum official online wallet is offline now.

    Edit - just bad quality control Electroneum Update • r/Electroneum

    ETN network is dead because they did not test the hardfork.

    Imagine if a half billion dollar company did that.
     
    #1
    Last edited: Mar 2, 2018
  2. spfoo

    spfoo Member

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    You would think that with the money they got from the ICO they could hire top people, but the technical issues just keep coming and coming. I thought before the ICO that now there's finally a professionally run crypto company, but how wrong I was.
     
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  3. funkywizard

    funkywizard mmm.... bandwidth.

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    Worth looking at nicehash right now. The "old fork" of electroneum has been dropping in difficulty as a large amount of hash power is on the new (totally broken) fork. The bots buying hashpower on nicehash have reacted to this and are paying through the nose for cryptonight hashpower right now.

    This is having a few effects. First, aside from mining the old electroneum fork and crossing your fingers, mining cryptonight to nicehash right now is probably your most profitable option. Secondly, normally smaller coins oscillate between very unprofitable to very profitable. And overall, most of the time they are very unprofitable. This is because, when they are profitable, people plow hashpower into them on nicehash, grab up all the low difficulty blocks, and then skyrocket the difficulty. This is not happening very much right now because electroneum, "on paper" looks way more profitable than the other coins (ITNS, DCY, SUMO, etc), so even when these coins "oscillate" to their more profitable level, nicehash won't mine it, because electroneum is still worth too much.

    So now is a good time to either sell hashpower on nicehash, or mine some of the coins other than electroneum. If you're feeling brave, you can mine on the old chain (old as in, using the old daemon which is not broken), and hope that when the developers fix their botched fork, that the old daemon is compatible with the new changes.
     
    #3
  4. ehorn

    ehorn Active Member

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    Yeah - nicehash is paying pretty competitively right now. I've had all my nodes pointed to cryptonight stratums for a week now and (as Joel mentioned in another post) its less hassle to draw income without all the exchange activity. Another plus is recent BTC price action is favorable.
     
    #4
  5. funkywizard

    funkywizard mmm.... bandwidth.

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    Nicehash has gone the other direction now. I think those who were bidding things up so high have either run out of money, or simply lowered their bids. Cryptopia still not doing deposits or withdrawls, and other ETN exchanges have very limited liquidity.

    Difficulty on ETN is down still, while the pools and network are back up. So mining ETN is once again better than pointing to nicehash.
     
    #5
  6. spfoo

    spfoo Member

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    Looks like Intense coin is having problems as well. Errors about double spending in the daemon log....
     
    #6
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