Will ETN rewards end some day?

Hi, I’m still with some doubts about this ETN rewards.

I understood that, the ETN creators have now a one place to mine it and they are the only ones that can do it. So they grab part of this ETN mined and distribute it like the ETN rewards for us.

So, it will end some day?

the reward etn was premined in 2017. it was about 8 billion.

the team decides how to distribute it not the NGOs.

it can last years till 8b depletes

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Thanks, makes sense. And we really can’t mine it fisicaly anymore right? I saw that we had an official mining tool here but isn’t available anymore.

you can mine other coins and exchange them to etn. I’ve been doing it since half a year. more info here

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Just to reiterate.

There is no public mining… nodes (which receive the block rewards) are run by designated NGOs right now. This is nothing to do with the coins used for rewards.

Yes, the ETN rewards will end eventually, they have a limited pool of ETN to work with (~7billion coins from the premine).

The team will use the coins in the best way to help adoption. Right now, that’s user growth through rewards (i.e. people are given ETN just for being involved)… in future this may change to something else if thats a better use of the ETN.

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Too bad… because, these rewards are really helping people that have no conditions and have a lot of potential on helping good causes with it.
And they do not want to allow us to mine it on our androids in the future right?

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you don’t mine on your phone. you get rewards. even if your phone is switched off for a week you get the rewards (for now)

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Indeed, im sure Rich and the team would love the rewards system to keep going indefinitely, unfortunately that’s simply not possible. Ultimately, as a fintech company not a charity, they must do whats best for the project.

However, it is great they have managed to find a way to give back whilst also helping adoption of ETN…so even though rewards will come to an end at some point, its brilliant they have been able to help people and introduce so many to the benefits of crypto. :+1:

Also, keep in mind that the way Electroneum helps is constantly evolving. AnyTask.com is an AMAZING platform for the types of demographics who are currently benefiting from the free ETN rewards.

So many of the unbanked / underbanked are unable to earn through digital freelancing. Now they not only can use a platform, but even earn without losing a large percentage as fees to middle men.

I hope everyone will forgive me for using such a cliche, but it really does sum up Rewards, AnyTask and TaskSchool perfectly…

Give a person a fish, and you feed them for a day. teach a person to fish, and you feed them for a lifetime.

Charity is fleeting, equality of opportunity lasts forever.

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Endeed, it is very important to keep that in mind.
But, it feels like we have more like a investiment that returns us a small amount, that is not much in the beggning, but by the years and months can become something to these people.
I think is important to keep this program, but without harming the company. Maybe they should think about it in the future, since the main project is to make it more easily to use for the people that doesn’t understand nothing about crypcurrency.

Rich closed the GitHub question as it was off topic.

and your point is ?..

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Please refer to Phase 2 community Update from Richard Ells 19/05/2020

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