Electroneum Launches $80 Smartphone that Rewards Users with ETN

News reaching Ethereum World News indicate that the team at Electroneum have released a new smartphone that rewards users with ETN and has a pocket friendly price tag of $80. The device, dubbed the M1, incorporates the project’s cloud mining technology and enables users to earn cryptocurrency through a simple app. Through the phone, Electroneum is using the power of the blockchain to unlock the global economy for millions of people in the developing world.

Below is a tweet by the team also announcing the launch of the smartphone.

Earn $3 Worth of ETN Per Month

The smartphone’s app-based cloud mining system makes ETN more accessible to users. The device has the potential to earn owners up to $3 a month. The ETN earned can be used to pay for services such as mobile top ups (airtime and data connection) and other services such as online shopping.

Electroneum CEO and founder, Richard Ells, explained how the M1 was the result of having the best working on developing of the phone.

With our experience in tech, we were able to gather a world-class team consisting of telecommunications, manufacturing, emerging area mobile-operators, product design and marketing specialists, all helping to make this utopian vision of ours a reality.

Without the broad range of talent and expertise, we could never have imagined the possibility of making a product of this calibre accessible for anyone in the world, and we are extremely proud of the result.

The M1 has the following standard features:

Android 8.1 Go Edition
8GB Internal storage that is expandable to 32GB
4.5″ touchscreen
4G connectivity
Dual SIM
Bluetooth 4.0
GPS
Front (2 MP) and Rear (5MP) cameras
1,600 mAh Battery capacity
1 Year warranty

Weiss Ratings Opinion of the Phone

However, not everyone is convinced about the capabilities of the new M1 smartphone by Electroneum. In a recent tweet, the team at Weiss Ratings was very doubtful that the mining capabilities of the phone were actually functional. The tweet stated the following.

#Blockchain startup #Electroneum launches a cheap Android Smartphone that “mines” #crypto: It costs $80 and they claim it can mine up to $3 per month worth of #ETN, Electroneum’s native token. Fake mining from Electroneum.

What are your thoughts on the M1 smartphone by Electroneum? Will it ease crypto adoption across the globe? Please let us know in the comment section below.

[M1 Smartphone image courtesy of Electroneum.com]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you

Published at Thu, 28 Feb 2019 02:14:45 +0000

October 29, 2017

Big Investors are Making Big Money with Bitcoin

bitcoin’s base of supporters is growing and increasingly pouring money into the cryptocurrency ecosystem. Now, this base is attracting financial giants, who are becoming familiar with bitcoin’s value and perceiving its fantastic potential. As a result, they are seriously starting to invest in the cryptocurrency. For example, Bill Miller is successfully investing a third of his hedge fund’s capital in bitcoin.

Once a Successful Stock Market Investor, Now a Successful bitcoin Investor

Bill Miller

Influential investor Bill Miller managed a portfolio that beat the stock markets for the period 1991-2005. Now, he is also making lots of money with bitcoin.

According to a Wall Street Journal report, Miller has invested 30 percent of his fund’s assets in bitcoin. Notably, he bought bitcoin when it was $350 USD. As of this writing, bitcoin’s price is above $5,900 USD.

Among its $2.3 billion in assets is a $154 million hedge fund, MVP 1. The fund is up 72.5% so far this year, Mr. Miller said in an interview. It has about 30% of its assets in bitcoin, he said, up from about 5% in 2016.

Famed value-fund manager Bill Miller is bullish on bitcoinhttps://t.co/l7xXl5h8pE via @WSJ

— Jason Zweig (@jasonzweigwsj) October 27, 2017

https://platform.twitter.com/widgets.js

Miller expressed his optimistic views about bitcoin, saying:

I believe there is still a nontrivial chance bitcoin goes to zero, but each day it does not, that chance declines as more venture capital flows into the bitcoin ecosystem and more people become familiar with bitcoin and buy it.

Some Old-Time Investors Still Remain Unfamiliar With bitcoin

As more people become enlightened with the virtues that bitcoin offers, the number of cryptocurrency enthusiasts is growing exponentially. However, many big-time investors remain uneducated about the cryptocurrency. And fearing the unknown, they resist change and keep on being skeptical.

One notable example is the magnate Warren Buffett, who is ignoring the potential of bitcoin and remains unconvinced about bitcoin’s amazing qualities. Indeed, he is unable to appreciate bitcoin’s value. Hence, he mistrusts it.

Recently, addressing business school students, Buffett said, “You can’t value bitcoin because it’s not a value-producing asset.” Then, he referred to bitcoin’s spectacular upward trend as a “real bubble in that sort of thing,” MarketWatch reported.

It is not the first time that the Oracle of Omaha has failed to see the potential that innovation and new technologies can offer. In fact, one of the problems that has affected Buffett’s decision making has been his unfamiliarity with and lack of interest in technology.

For example, Buffett previously failed to appreciate the potential of technology and social media stocks, such as Google and Facebook. Now, Buffett recognizes that excluding technology stocks in the Berkshire Hathaway’s portfolio has been one of his worst mistakes.

While discussing his failure to buy Google, at the time Google’s founders approached him to participate in the IPO, he admitted failing to act due to his ignorance. In this connection, Buffett said:

And so I had plenty of ways to ask questions or anything of the sort and educate myself, but I blew it.

Buffett also explained missing the opportunity to buy Amazon, by saying that he had been “too dumb.”

More Familiarity with bitcoin will Change Negative Perceptions

Warren Buffett

Granted, there are financial tycoons of the caliber of Warren Buffett and Saudi Prince Alwaleed bin Talal who will resist change and technological innovation. However, many other big names in finance and industry are becoming cryptocurrency enthusiasts. For example, Bill Gates, co-founder of Microsoft, is excited about bitcoin. In 2014, Gates declared, “bitcoin is better currency.”

Likewise, Steve Wozniak, co-founder of Apple, is excited, believing that bitcoin is better than gold and the mighty US dollar.

Perception about the cryptocurrency is rapidly evolving, as reflected by bitcoin’s soaring value in the financial markets. And, as education in cryptocurrency reaches multi-billionaires and their inner circles, their resistance to bitcoin will decrease. Consequently, many of them, such as Bill Miller, will start to see and profit from bitcoin’s amazing potential.

What do you think will be the impact when the world’s wealthiest people become more educated about bitcoin? Let us know what you think in the comments below.

Images courtesy of Shutterstock, Wikimedia Commons, and Miller Value Partners

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