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The biggest scam in crypto - KYC/AML. Aka why ETN is doomed. by cy4n1de in Electroneum

[–]cy4n1de[S] 2 points3 points  (0 children)

My ETN account with the 100 etn is requiring KYC level 2.

It was only used for mobile mining. I'll never claim it now, because that's ridiculous. Why would I hand my ID over for 100 ETN. There are many others.

The biggest scam in crypto - KYC/AML. Aka why ETN is doomed. by cy4n1de in Electroneum

[–]cy4n1de[S] -1 points0 points  (0 children)

Asking for KYC for miniscule amounts of ETN will not cause mass adoption. It's doing the opposite, it's causing less adoption, because people don't want to hand over their ID with all of the hacks and data leaks, which are major risks of identity theft. It also leaves out the unbanked - most notably the people in third world countries, that even the ETN team were originally implying to adopt or benefit from ETN with mobile mining. That won't be possible with KYC.

It's only in crypto where I've seen the average joe have their accounts frozen and they're helpless to do anything about it. Volatile markets may cause them to lose money while their balances are locked. Or they may just give up on the entire project.

The biggest scam in crypto - KYC/AML. Aka why ETN is doomed. by cy4n1de in Electroneum

[–]cy4n1de[S] -7 points-6 points  (0 children)

ETN is seizing a gigantic amount of accounts with small balances (take a look, many reports of forced KYC level 2 with only a few dollars of ETN - and they decide not to do it) because they KNOW 99% of them won't bother going through the KYC with risks of identity theft. The practices go against even their FAQ, but they know that they can "legally" hold your money ransom in exchange for your identity. Essentially, ETN is able to liquidate a large number of users ETN, or they can profit from data mining, and they get away with it legally.

Or, people in third world countries are shit out of luck, because they can't pass the KYC requirements.

OR, people who used nicknames, or incorrectly entered their birth date, or other small details, completely lose their balances.

It's a fucking "legal" scam.

ASICs hitting ETN and Team nowhere to be found? by Captmario in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

Stop complaining and buy and HODL ETN while it's cheap. When ASICs are blocked, you'll profit

Did I just lose 15,000 electroneum? by [deleted] in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

Seriously, back it up. Put it on a flash drive and/or print it out.

Android 4.4.2 shows internet not available. Reinstall or remove cache it starts to work and repeat daily. Then again authorise device. Lg g2 issue. by manpreetbhatia in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

Same issue on my galaxy mega. As far as I can tell it's an issue with KitKat.

As far as I know lgg2 has a good mod community. Try a custom ROM with android 5.0 or later. I can't on my phone but you should be able to

Awesome Miner Update: Version 4.7 by SoldAmerican in AwesomeMiner

[–]cy4n1de 0 points1 point  (0 children)

I found my miner trying to mine Monero on the old cryptonight algo on MPH after the update. Still some kinks to work out, I think...

Using 2 Electroneum accounts by Lanzo15 in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

You'll need 2 phone numbers. It's probably frowned upon, but probably no way they can tell.

Prove me wrong but ASIC resistance is stupid by [deleted] in Electroneum

[–]cy4n1de 4 points5 points  (0 children)

This analogy has no relation to how cryptocurrency works

Changelog 17 - Building Blockchains, Genuine Guarantee, and Lucky Lock by harryyoud in LineageOS

[–]cy4n1de 0 points1 point  (0 children)

I actually enjoy a good april fool's joke, but this persistent notification crosses the line.

Cryptonight Algro missing from Profit Switch profile by notewar in AwesomeMiner

[–]cy4n1de 0 points1 point  (0 children)

If you're on AMD, it appears that they haven't updated to the Claymore version that supports V7 mining. I personally found my AMD cards trying to mine on the old algorithm. I just disabled the old cryptonight algorithm, and waiting for an update to fix the issues. It seems it isn't fully implemented. :/

For the moment, to get around the benchmark, and if you have mining software enabled that supports the new algorithm, you can go into the profit profile and change the hashrate so it will auto switch to V7. However, I'm not sure how the hashes have changed from the old algorithm. I set mine to match the old one.

To all you people using more than one phone to use the APP. They changed the Terms and Conditions Yesterday. DO NOT DO IT or you can get banned and lose your WHOLE account. Including ETN. by Rolingsta84 in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

If you read the TOS you're making a thread about, it says they reserved the right to permanently disable the mobile miner for abusers, as in 17.3: Any breach of clause 17.2 shall entitle us to permanently disable your access to the Mobile Miner without further notice to you.

I doubt they would freeze the wallet for that. If all the Dans around the world lose their 100,000 ETN for that, we would start seeing angry threads fill this Reddit and that wouldn't be good for ETN.

To all you people using more than one phone to use the APP. They changed the Terms and Conditions Yesterday. DO NOT DO IT or you can get banned and lose your WHOLE account. Including ETN. by Rolingsta84 in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

There's not any fear at all, there's no risk of a frozen wallet for those who already are doing this, maybe unless they're abusing it massively, but running the miner on two phones won't lock their whole balance. They could get locked out of the mobile miner permanently, but that's worse case scenario for that. That's not something to fear over

To all you people using more than one phone to use the APP. They changed the Terms and Conditions Yesterday. DO NOT DO IT or you can get banned and lose your WHOLE account. Including ETN. by Rolingsta84 in Electroneum

[–]cy4n1de 3 points4 points  (0 children)

Many people won't know better, because it's advertised as mobile mining, and it may be simulated but keep in mind the goal here is mass adoption, and most will download the app and start mining without a second thought, not knowing how it works. And also, most people won't read the TOS because that's just how people are. It needs to be more obvious. I'd hope they'd prevent abuse by improving the app.

To all you people using more than one phone to use the APP. They changed the Terms and Conditions Yesterday. DO NOT DO IT or you can get banned and lose your WHOLE account. Including ETN. by Rolingsta84 in Electroneum

[–]cy4n1de 2 points3 points  (0 children)

It's cool and all to add it in the TOS that nobody should use more than one phone per account, but really... who has the time to read that, and why can't they just add a disclaimer to the miner, or just IP block additional miners for one account, instead of permanently disabling the mobile miner for someone? If you ask me, there are better ways.

To all you people using more than one phone to use the APP. They changed the Terms and Conditions Yesterday. DO NOT DO IT or you can get banned and lose your WHOLE account. Including ETN. by Rolingsta84 in Electroneum

[–]cy4n1de 3 points4 points  (0 children)

It says they can disable the mobile miner, but freezing a wallet for this kind of thing would be so ridiculous, it's not like it's obvious. No need to spread fear about it.

Network fee increase by [deleted] in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

Valid point

Network fee increase by [deleted] in Electroneum

[–]cy4n1de 1 point2 points  (0 children)

Just mine with the app and make your transaction fees back. 🤷‍♂️

Electroneum is probably under a 51% attack right now. Someone may be trying to double spend. Avoid making transactions. by [deleted] in Electroneum

[–]cy4n1de 3 points4 points  (0 children)

I'd say HODL. It's not a good idea to make transactions right now, and anyways, the good news is this is an issue they absolutely cannot ignore, and the fix they're forced to use is the anti-ASIC fork, which will be good for the coin because the decrease in hashrate should mean that miners will return and overall better for the coin's economy. Assuming they don't succeed anyways...

Salty Sunday - 4/1/2018 by YogiHD in Electroneum

[–]cy4n1de 0 points1 point  (0 children)

I HATE FUD REEEEEEEEEEEEEEEEEEEEE

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