So about 20 minutes prior to this post was the 2nd launch of Electroneum.com which was supposed to give access to the ICO backers wallet funds. Currently everyone is in freaking out because they just ddos themselves.
The company new this was coming, and did not take precautions to ensure that it all worked, and could survive the onslaught of users accessing the wallet. I am still long on the position just because the blockchain is out of Richard Ells hands, but have no faith in the company behind the Electroneum Blockchain at this pont in time. The price has plummeted by 200 sats, and is set to go well under 60 satoshi.
The first launch was a failure as the ETN failed to realize people would crash their services when trying to access them. Then they claimed a security threat, and kept the wallets locked up for 6 weeks while "Hackerone" completes their process.
A lot of the community backed this position, but I felt it was fishy from the begining.
Now we see their 6 weeks of extra work has led them to another failure of a launch.
I make a post when I do get through, and hope that I can lead people to some guides on how to transfer their money out, but as of right now this thing is tanking, hard...
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I hope that they can get this issue resolved and bring good fortune to 2018.
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Probably a good time to buy now. Thanks for the update mate !
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Dropped to closer to 300 sats, I would still keep an eye on it.
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Well, it never went even close to 60 sats. I hope you dumped your coins because you obviously don't believe in this project.
The funny thing is that you made some nice profits writing about Electroneum didn't you?
Yes, there are problems, and there will be more in the future. It's not perfect, but it will be getting better and better. I predict you will be buying back at a higher price :)
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Lol, price is still slow dropping man, I thought it would be quicker, but I made the mistake of believing the Electroneum team would be competent on their second time around. 315 sats this morning...
It may not reach the 60 sats, but its getting lower everyday as people finally access their funds. The ETN team have dropped the ball completely. Facebook, twitter, reddit, and telegram are filled with users stating:
locked accounts
still no sms
no activation e-mail
and funds on pending xfer for days
They messed up and didnt give enough transaction fees to larger orders so they arent sending. So the dump hasnt occured so quick. As people gain access to their funds it is clearing. They stated 600m in xfers only. Thats insanely small, even just for people putting into COLD STORAGE...
They then said like a few hundred ETN as total transaction fees?
Electroneum has dumped to below 50% of what it was minutes prior to the dump...was 700 now is 300...the time of writting the article it was 500...
And I have made a bunch on electroneum, i have been mining since day 1, so everything I play with today is from those Nicehash flips. It was easy money, but its simple to see the writing on the wall on this one man.
2 failed launches, that sort of ineptness is hard to overcome.
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This post has received a 48.78% upvote from @lovejuice thanks to @danile666. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.
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You got a 27.97% upvote from @votebuster courtesy of @danile666!
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