ELECTRONEUM - SCAM? MLM? ZERO CUSTOMER SUPPORT - Oh Yes

As a Brit living in Asia and actively involved in the blockchain/ Cryptocurrency space I was excited when I first heard about Electroneum - ETN. Lets be honest - the Cryptocurrency space is still the wild west and we cannot expect things to run smoothly and I like to share positive news and not FUD.

At the time I came into Electronuem they had just resolved the issue with stopping the launch shutting down all user wallets and freezing accounts while they beefed up security following a Hack, and were in the process of reopening wallets having upset many of their investors and early adopters in the process, not a good start but I caught the end of it and saw a bright potential.

I follow some bright influencers in the blockchain/ altcoin space such as David Hay who is very credible offers unbiased technical analysis of altcoins and he had provided the following analysis about electroneum which maybe I ignored foolishly wanting to support the "First British Altcoin launched by ICO" and what appeared to be a great product with mobile mining etc

Despite this detail from David Hay, I was impressed that Electroneum took the security issues seriously and sought to resolve these problems to avoid further issues - for which I was duly impressed. I set up an offline wallet and began mining which seemed to work well until the online wallet and website was relaunched and I then bought a large position off the bat - then the problems start.

Just before Christmas I tried transferring the Offline wallet balance to the online wallet - this still hasn't happened 3 weeks later - just pending in the wallet, I tried mining direct into the online wallet - does not register the credits despite the pool indicating mined ETN has been sent correctly and I used 3 different pools to test that out. I then tried to transfer a small amount of ETN from the Cryptopia Exchange (and that is another issue all by itself - why just That exchange? which itself has been shutting off trading left and right) and guess what? - yep wallet not credited to date.

I have sent emails to electronuem support before Christmas, at new year and last week - Zero response - and Im not alone see this twitter feed from Jan 2nd;

https://twitter.com/electroneum/status/948221328141807616

and today with another tweet where they Proudly announce how many followers they have on Telegram, and yet the replies are still full of the same complaints and non resolved issues from their investors.

https://twitter.com/electroneum/status/950333543338692608

Its great to have a large community and following however, could it be the Electronuem also hosts the most numbers of unhappy investors since Bernie Madhoff was found out?

All we see are excuses on Twitter and new Partnerships and "Impressive" people joining them and yet no concern for those trying to use the currency who have been experiencing problems for weeks.

Recently the price started to rise but how much of this is "pump and dump" to offload this very dubious product?

Why dubious - it looks like the mobile miner actually does not really mine - its a game...hmmmmm.

And then the Founders former company did the social media for HerbaLife! - which is multi level marketing company (MLM), what is an MLM? (sometimes referred to as a Pyramid scheme) - well watch this video

and check this article https://www.factsaboutherbalife.com/

I really hope I'm wrong about Electroneum, as for a Brit company its disappointing, for a piece of blockchain tech its normal to have some issues of course, but its seems they may just be a marketing scheme for an online mobile mining game.

For now I moved out of my position to use my funds in other investments just in case more bad news follows and the price crashes beyond repair - afterall there are dozens of other great Altcoins with great tech that are just as worthy of investing such as TenX which is headquartered here in Singapore, has a live product, and keeps its investors informed when there are the inevitable issues.

I eagerly await the first brit blockchain tech we can be proud of, ETN for now is a good Pump and dumper.

Have you had problems with Electronuem - let us all know here.