I'd be unfair to call them poor developers.

HOWEVER

If you go through the list of people listed on the Electroneum website, NONE of them have any prior crypto experience at all.  In fact, their entire team seems to be be people who have worked for Ells on various marketing and web site projects for years. There is nothing wrong about that in itself, but I find it incredible that they haven't got a single person who has worked on blockchain before on their team.  

I don't think they are scam, their white paper looks pretty good, the team looks good, the product is on Android now, IOS is being reviewed by Apple (Richard said after ICO it should be up & running)

I cant believe how many people are saying things like "they are doing a good job" or "give them credit for a quality product" when so far all we have is a monero crypto with the name scribbled off with a sharpie and electroneum written underneath
oh wait.. we don't even have that.. all we have is a defunct blockchain gaining height while a few miners and no actual users utilize the chain of this botched crypto turned scam that keeps the coins safe by design. now if they are concerned that their shitty website is compromised, then why not keep everyones coins on the chain instead of whatever "bitcoin account" they are developing and allow users access to keys holding their coin if they by some strange incidence are a subspecies of human that actually prefer to have unfettered access to their currency.. while the people who need an app with a pretty little box saying how many coins they have directly below their username and a quick little bio of themselves that say things like "this coin is a success" can wait for that day to come.

if they are not a scam then why do they insist on acting like one

also, someone please explain where the $40 million went? there wasn't any actual crypto R&D for this coin, and their website could not have been more than $39.5 mil tops

it seems the only investment these people have actually made is in their image.. literally, all they have are pretty graphics and a sweet name


just some advice from someone who has been scammed too many times to count: for every honest person in the crypto world there are 10 dishonest ones looking to make a quick buck

Also, I'm new to crypto so forgive my ignorance. But let's assume for a moment they are scammers that wanted to run off with the money. What exactly are they to gain by dragging this out over several weeks, giving updates (albeit very shallow ones) and giving interviews on camera, let people visit their office exposing more of yourself?

Couldn't they just let the hack happen, say the project was a failure, end it and take the money?

Again, forgive me if I'm thinking to simplistically.

You just reminded me of this tongue in cheek quote from the Financial Times.

Whats the average amount you guys have invested? I missed the ICO.

No, not necessarily.

I am not giving financial advice.
I am invested in it, in the sense I have some coins and I have mined it.
I do believe (based on my own research and understanding) that the team, run by Richard Ells, are an utter joke.
I also think the hype alone, caused by the cult of Electroneum and the blind disciples who defend it but can't provide any kind of evidence, might be enough to carry the coin to a decent value - in which case, 'wait and see'.
I don't hold enough ETN to really care what I do with it, it's worth maybe a thousandth of the other currencies I hold.
I don't think it set out to be a scam, but the scope of what they're trying to do is far too big for a naive and wholly inadequate team.

If you have enough time skim read this entire thread and make your own mind up based on what people have said - I genuinely think if you go in with an open mind you will find that people like me have considered it objectively and have valid concerns while the other side of the debate just say the same things: 'HackerOne', 'be patient', 'to the moon', 'you'll be sorry if you sell', etc. - basically all the usually FOMO and FUD from people who don't want to believe they are on the losing side because they put fiat into it.

It's close to call but I am going with: 'long-term, it'll crash'.