Electroneum: Mining Tutorial

Hey you, welcome back to the channel. Hey guys, today we want to talk Electroneum. So if you don't know what Electroneum is, it several months ago launched an ICO. I believe it raised over $40 million, and the idea of Electroneum is to get into the mobile device area. There are so many mobile phone, smartphone users now. Electroneum wants to mass adopt these people over to the cryptocurrency area. But not only that, Electroneum is a very simplified, easy approach so that an everyday person with their cell phone will be able to not only better understand cryptocurrency and use it their smartphone, but they can also mine it. And what Electroneum does is makes that very simple, very user-friendly. I really like the, the application, the wallet, how Electroneum works. It is very easy, and it's also built on the Monero code. So this is a privacy coin. It's, you don't have to disclose all types of information to use it and to transfer your coins. So as you can see here, you can see on my smart device here, I'm running the mining application. I just started last night. I've only already, already earned over 3 Electroneum, right? And I'm running several devices as I'm a smartphone farmer. I think I ran 2 or 3 on Electroneum last night, and now I'm upgrading to about 11 devices to run Electroneum on. And this is going to be especially a good idea if you are, you're into smartphone farming. Some of you who watch my channel probably already do that. As you know, I'm involved in smartphone farming. And what's so great about this, but this is also relating to everyone else who's using Electroneum, is that Electroneum uses simulated mining, right? So this isn't the actual mining where you gotta run these giant rigs and you're burning up your phones and burning up your computers. This is only simulated, and so it's not burning up your cell phones, making it unusable and various things like that. It's simply estimating your CPU power and how much it will be able to mine, but it's not the same as your traditional mining. That requires a great deal of wasted energy. This coin is more about mass adoption and getting a lot of people using it, getting all these mobile phone users using this coin, and has been picking up a lot of steam and gaining a lot of interest. And there have been, I believe there are over 500,000 downloads now on Google Play, and this is before they even include iOS devices. Right? So this is running from an Android phone, Google Play, where you can get the app. And it's very easy to get the Electroneum app. You just go to Google, your Google Play Store, right? Download the app on Google Play. I'm not sure if they've created iOS companion yet, but I'm sure that in the future, if they haven't created one yet, that they will. But I know you can use it for Android. Now, so you'll see some of the features. Once you download it, you're going to come to a screen like this and it's going to show the miner. If I go here and click at the bottom, it's going to show my wallet. And then if we go here to value, it's going to show you how much an Electroneum token is at the moment. At the moment, it's at 2 cents. It's about 2 cents USD. It's, I think it's been as high as 20 cents if I'm not mistaken. So, and there's also a lot of phenomenal predictions from $10 to $20 that we can see this token at. And so that's all very interesting. Interesting. I'm very excited about Electroneum. I did just start mining and start using this, uh, yesterday. Uh, oddly enough, um, it's kind of weird that I wasn't involved earlier, being already into smartphone farming, but, uh, I have been preoccupied with other coins and doing other projects and various things like that. But I'm here now and hopefully not too late. I know that it IPO'd at 1 cent, it's now at 2 cents, so that means IPO users haven't seen a fall in the ICO price as of yet, and it's been all the way, I believe, to 20 cents. Now, for people who are new to crypto, this is how you wanna start crypto. This is a good way to start crypto, and you can mine. And mining is a way that you can earn tokens. And what's so cool about this, as this mining program runs in the background, you can still use your smartphone to do any other thing else you do with it, like call on the phone. And as I understand it, it doesn't even— I haven't even noticed the slowdown. I run other applications other smartphone farming applications at the same time I'm running this, and I have absolutely no problems with this. So it's really not much to it, guys. Once you download this, as you can see, it's very user-friendly. All you have to do is hit a button. This where you says here, it'll say start mining. I was saying stop mine if you want, you want to stop mining, but you don't have to stop mining. You can just let it run continuously. And as I said, guys, I've seen very little slowdowns on my phone. All the applications are still usable. So that's what's so fantastic about this, and that's why I'm so excited about Electroneum. So guys, let's, let's get into the meat and potatoes of it a little bit about your earnings. As you can see here, I've been running this not quite 24 hours yet. I went from 2 phones running this yesterday to not even 24 hours yet, maybe about 12, 13 hours I've been running this, and I've already got 3, uh, 3.3 Electroneum tokens mined. All right, uh, and that is, uh, uh, with 2 phones, um, at a 30 hash rate. Even if I divide that in half, I'm still, um, that's, that's over 1 token a phone already in, uh, in over about 12, 13 hour period. So I'm looking at, uh, if I kind of do the math and break down, I want to try to run at least about 10 devices on this. And if I'm already getting, uh, let's see, 3 and 13 hours off just 2 phones, uh, I'm just gonna go ballpark figure. I've heard other people, um, uh, calculations of it but they have different— has it all depends on the type of phone you're using as well as your, your connection and your speed or your hash rate. But, uh, just going on what I'm getting now, I would assume I would be getting, uh, about maybe 10 to 20 tokens a day, right? And that— so that could be about 300 to 600 a month. Now if these predictions are right in the future and this thing can go to $10 or $20, that crazy stuff, crazy numbers like that, you can see that that would be quite significant. But this is mostly upside and no downside, especially, uh, if you're a smartphone farmer, you already got the phones, or even if you're just a person, uh, who only has one phone but are interested in cryptocurrency, don't know much about it go ahead and download this application and let it run in the background. You can start owning these tokens in the cryptocurrency market. You never know what these coins and tokens' value can go to. So, uh, it's like, um, it's like, uh, why not? You just take the chance, you know. You're not even taking a risk really doing this. If you get— if it ever goes to $1.20, um, uh, $10 to $20 a token, and you mined a couple of these with just your one phone, $40, $50 for doing nothing, right? So that's all very interesting. Now, uh, speaking of, if you're only getting 10, 20 coins a day and right now they're only about 2 cents and stuff like that, obviously it's 20, 30 cents or whatever, that's not any money that's going to be significant to anybody in this space. So Um, that moves me to this next thing that they got going with Electroneum, and this might be useful to you in addition with that if you're a marketer, if you're a person who already smartphone farms, as you can do all your other smartphone farming with the same device and run Electroneum at the same time in the background. But I'm also going to show you this and, um, uh, this very interesting referral program it has, and, uh, We're going to type on here, how does it work? And this is very important because a lot of times when I am doing very smart, very smartphone farming applications or doing stuff in cryptocurrencies, I don't really like to do promotions and referral links that much. You know, the bottom line too is a lot of times when I do these things and a lot of other people, they don't make that much from referrals, right? So it's not that big of a deal to push referrals because oftentimes you're not making a whole lot from it. But of course, every little bit helps, and if you can make some money, that's great. But whereas— where Electroneum is a little bit different, and I don't mind promoting and marketing Electroneum's referral program, as I'm just going to read directly from their website what it says about it, uh, you'll see why and understand why I'm a little— I'm a lot more excited about promoting the referral program, having you guys sign up with my code and get you guys earning some Electroneum. I'm going to read this and tell you why. It says, why introduce others? By referring others with your code, you will earn a 5% bonus based on what they mine. The more people that mobile mine with your code, the more you will earn. So obviously that's great for me, guys. I'll get 5% of whatever you guys mine with your mobile devices. So obviously I want you all to use my code, but listen at this part so you understand why not only you want to use my code, not only for yourself or not only for me, but for you. And we're going to read right here. It says people that use your code will receive a 1% bonus on everything they mine themselves, right? So listen at that. That's basically saying that if you do use my code, you're going to get a 1% bonus on everything you mine as well. So it's to your advantage to use my code. All referrals will be scanned for authenticity. All decisions are final and at the discretion of the Electroneum team. So obviously, if you're doing something, I guess they find to be like trying to game the system or something, they can deny that referral. But, you know, as long as you're, you know, playing by the rules of Electroneum, everything should be fine. You will get the 1%. And I'm going to show you my code here, but it will also be available as a link in the description. Where is my code? Okay, so it says here, show my referral code. Okay. So it's going to be— you can either scan it here, but it's also going to be B85ED6. I will leave that link in the description. Make sure, guys, that you use it so you can get your 1% mining bonus you won't otherwise get. So again, very excited about this, guys. Um, I'm at 3.34 Electroneum. less than 24 hours. So I'm going to keep adding phones to this. You know, like I said, I'm a smartphone farmer. I probably have approaching about 20 devices now, uh, and I'm gonna try to get probably the majority of them running Electroneum, whereas I run my other, you know, things. And I— and, and the thing about, um, about mining with your mobile devices, probably the average household only has about under 5 devices. So you're not going to make a lot mining Electroneum if you are not already a smartphone miner. But you're going to at least be able to earn something in case this thing spikes up. And that's basically what you're doing with this. You're looking at this long term, like so many active miners already in this thing. It's already— I think last week it was maybe 100,000. It's been about 50,000 more people that are active miners so far, not to mention, you know, who's downloading this and what we can expect in the future. So we could see millions upon millions of people using this. Also, the price of Electroneum right now, only 2 cents. I believe the other week was at around 7 cents, and this went all the way to $0.20. So you, you know, if you're mining these coins, you could potentially easily see maybe 10 times what you're, uh, you know, the value of what you're mining today. Um, you know, in addition to that, because of the price of the coin and the good possibilities with it, potential of it, uh, probably going to just be a lot easier for people to buy it for at $0.02 a coin, which is something I'm going to do as well in addition to mining. And I think I'm going to pick up quite a bit of Electroneum tokens for the future, uh, you know, in hopes that it will go up. And let's just look at some of the other things here. You know, you can just transfer just like any other wallet. I don't have any in here yet as I just started mining yesterday, but I will be buying some and filling up my wallet. And also when the mining finishes, I think once you get to 10 Electroneum tokens, it will display here in my wallet. Go back here to value, and again, it shows the various, um, uh, stats, the volume, the 24-hour volume, the circulation of coins. I believe it's only 21 billion coins, uh, as opposed to Bitcoin's 21 million. But here's the, uh, the very interesting thing about Electroneum. In order for Electroneum to make this a lot more user-friendly, it uses the basic, uh, fiat monetary system with the 2 decimal places as opposed to several 8 decimal places like Bitcoin has. So this is a much more easier approach for people who are new to crypto. Again, this is for mass adoption. If I go over here to exchanges, it's going to show the various exchanges that accept at this point. You can trade Electroneum on, and there are a lot of, you know, in the future plans talk about Electroneum moving to much larger exchanges like whether it be BitTrex or Bitrex, however you want to say that, or Binance. Various things like that. Some of these tokens, uh, for these exchanges require great upgrades which are costly and timely. And, uh, so these coins got to be quite significant before many of these exchanges want to do all the necessary work to add these tokens. Um, and so that's going to be very, um, interesting and obviously affect the price once the bigger exchanges get it, which I believe they will, as Electroneum has already raised $40 million in its ICO. So it's getting a lot of buzz and it's moving on, and people are noticing Electroneum, right? So that's all interesting to see. Uh, I'm gonna do some follow-up videos on Electroneum and my smartphone farming and mining setup for Electroneum so that you all can see my setup. It's very similar to— if you look at my channel Pretty much the same as my other smartphone farming applications I've run in the past, as this can run alongside with that. But I'll show you guys that. Also want to bring your attention to my own coin, which is Miko's Coin. It's related to Steemit as it runs the Steemitocracy game on it. And Miko's Coin is very similar to Electroneum as well. It uses a similar idea where your attention and visiting the site gets you coins with how many devices you have running. So if you have several devices running on the site and you're filling out the forms, you'll be issued these MECO coin tokens. And I will leave a link in that. It's something maybe to do as a companion with mining Electroneum if you're going to mine Electroneum. And, you know, finally, Electroneum is just your, your standard cryptocurrency coin where you can trade it. Um, there's a lot of people, I believe, getting involved in Electroneum now. Uh, I think some partnerships coming up, and there's also marketplaces where you can just buy things with Electroneum, and we'll do some research on that in the future. But so far, guys, that's all it is to it with Electroneum. Been wondering about it, if you've been hearing about it. And again, don't forget to use my referral code, I will leave the link in the description. Guys, if you like content like this, don't forget to like and subscribe, and until next time, take care.