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RE: [Electroneum] Weekly News Roundup (04/04/18)
The main problem for me with Cryptopia was the minimum trade limit... For a cheap coin like Electroneum it's hard to initially reach the 50000 satoshi minimum trading, because the value of Electroneum never went high enough to be worth selling more than few coins. I prefer Qryptos where I can set my orders with any amount.
Seems like people have lost faith in Electroneum a long time ago as the price is essentially on free fall. Most exchanges that have Electroneum listed don't have any other interesting coins, so people are essentially dumping Electroneum for either Bitcoin or Ethereum as Litecoin price is still too high and low volume to be able to compete with low fees and higher trading volume of Ethereum.
Absolutely, it's whats stopped me from trading more on Cryptopia, their limit is just too high for low-trading coins like ETN. I've got set up on Qryptos, but I've had a bit of a hiatus from trading this year because of the uncertainty in the markets.
I fear you're right about people losing faith, but all is not lost yet. They can certainly turn things around, and it's frustrating to hear so little from them since the World Conference in Barcelona. Hopefully, they have something good up their sleeves.
I've seen a lot of Monero-based coins go bad because complexity of the technology makes blocks big and rate of blocks per hour is so high that slower hard disks just can't keep up with the I/O traffic. A lot of users are already running their wallets through remote node and that is bright red warning sign for me. Electroneum staff also seriously **cked up handling of the official mining pools and that cost a lot of people quite number of coins.
Yeah I've noticed that trend too, hopefully bringing an experienced engineer like Andre on board will help them sort these issues out. I feel like they didn't fully think through these decisions when they were first launching the cryptocurrency.
I appreciated what they were going for with the official mining pools, but like you've pointed out, the technology it's built on wasn't really ideal for what they had in mind.
I've read some of recently launched coins are restarting from block 0 just so they can learn from their mistakes... I hope eventually Electroneum staff also realize they can't stack up fixes on top of the old blockchain indefinitely.