Electroneum raised its mobile-mining payout threshold from 10 ETN to 100 ETN, sparking Reddit outrage. The host explains that transaction costs make payouts below 50-100 ETN uneconomical, and notes that $3 monthly still matters significantly in low-income regions like Venezuela, where most ICO projects delivered nothing.
Hey you, welcome back to the channel. And guys, as you can tell by this title, um, that there seemingly are some people, uh, in the Electroneum community or who were mining, mobile mining Electroneum, somewhat disappointed with Electroneum going from 10 Electroneum to 100 Electroneum payout. And so Uh, this seems to be going over, going on over at the Reddit, um, uh, post Electronium, uh, thread. And I, I had been over there and I checked it out and I, I was shocked. It was shockingly surprising. I did see quite a few people complaining about it. And there's this author, this article writer here by the name of, I think his name is Julian Joseph Lehman. And, uh, he doesn't seem to care a great deal about Electronium either. He seems to be a little bit, you you know, anti-Electronium. So he's showing some of the information and threads of some of the, you know, I guess some of the people who are a bit unhappy about the rise in Electronium, right? But, you know, my thoughts on this are, you know, we had quite a bit of tokens that raised a lot of money during the ICO phenomenon, and 90% of the value of the money we invested is gone. And, um, a lot of these, uh, projects basically end up firing a lot of people, uh, you know, laying off a lot of people. They ended up, uh, you know, not producing many of the things they told us they would, and now we're down over 90% of our money and got nothing to show for it. They haven't given us anything but a dream. And at least with Electroneum, it has been giving out a substantial amount of money to everybody, everyone, even the people who didn't invest or earn any of it, and giving it out to people every month, like about $3 per month. And that might not sound like a lot, but when you think about all of the people that Electroneum's giving this money to every month, just free money, um, and all these other big tokens and coins who haven't given us anything, uh, they haven't done anything, uh, and for people to complain about it, uh, it's just mind-blowing to me. It's just, it's, it's mind-blowing to me. Now, you know, for me, it going from 10 to 100 Electroneum, well, I'll pretty much tell you what I have been doing with a lot of mines. But, uh, you know, it, you know, I generally, I would say probably around getting around 50 Electroneum is probably where I would even consider cashing it out, or, you know, when I would send it out, because they— you have to pay, like, you have to spend like 5 Electroneum to send it out, right? So if you're sending this out Uh, it's costing you half of— if you're, if you're that concerned about cashing out at 10 Electroneum, you know, it's costing you about half that to send it out. So it's just not very practical, is it? And so, uh, I would say at least 50 to 100 seems pretty feasible, right? That seems like the amount you probably want to send it anyway. But, you know, apparently this article is about how the people are uninstalling Electroneum, and it's just crazy. I don't understand how they can go from that. Now, I could probably understand if this happened in a third world country or something like that, and it was coming from people like that, in a sense, because I can understand them depending a lot more on it. Because as I looked through some statistics, I was just shocked to find out that people were living off like $12 a month in Venezuela. And I'm sure it's a lot of other countries in similar situations, but they could live off of that. And the average job salary was like $12 to $15, you know, that you made on your job per month. So I mean, these were just, uh, I, you know, I mean, I could see where if you could get like $3 per month That's probably representing like 25% of your income just from the mobile mining from Electroneum. But that's kind of testament to Electroneum, isn't it? That they're even giving out that kind of money to them. And these other tokens that they're, you know, that I guess they respect more or believe in more aren't giving you anything, but they lose, they lose up to 90% of our value. And so, you know, it just, Goes to show that some people just aren't thankful for, you know, any, uh, anything. Excuse me. But I was gonna say too that if it really bothers people that much, you know, I don't— you know, there are Electronium faucets. I don't know, um, you know, who, um, you know, um, if any of these people have watched particularly this channel or not, but they can go over to our faucets and we still have it at 10 Electronium and, um, You know, it depends on how much is in the faucet, so it's different amounts. I'm not saying you cash out any earlier or any sooner than, um, Electroneum, uh, mobile mining app, but you know, it's something you can do, um, as a companion to that. And you know, when you cash out, you know, you have that, that extra money or whatnot. But, uh, yeah, I just wanted to get my thoughts on a little bit, guys. I was shocked that I didn't, I didn't think it would people would take it this serious. But I did go over to the Reddit forum and there are some people, and I don't, you know, I don't, I don't know if they're serious or not. I don't know what the situation is, um, you know, um, but, uh, right, yeah, they seem pretty upset about that 10, that 10 electron going to 100 electron, um, uh, but that's, those are my thoughts on it, guys. Um, um, Guys, if you like content like this, uh, don't forget to like, subscribe, and until next time, take care.
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