Phoneum(Currently known as PHT, formerly as PHM) is a ERC20 token that offers cloud mining service in their app. Additionally there are several games in their portfolio where you can earn more of the coins. I don't like the games, but I use the cloud mining, because it is a Bulgarian Project and because I liked the idea of cloud mining. So far so good. Few weeks ago, the team announced via e-mail and on Reddit that they are "rebranding" their token from PHM to PHT. Normally I wouldn't see anything strange in that, but on other hand when you think of it it's very strange to abandon the PHM which was not taken from any other currency(listed on CoinMarketCap) to get PHT, which is one that is taken by another project listed on CMC. They are listed on 2 exchanges so far:
The price is so low, that my earnings of nearly 50 000 PHT for almost 2 years are about $5. And just now something else happened that pissed me off. The team has just announced a BIG UPDATE on the cloud mining app:
Basically, you are able to activate double earnings on the cloud mining. You need to purchase a package for 4 activations - which is about 4 weeks of mining on the price of $3.61 in the Google Play store. Then I had to calculate what earnings I could possibly get from that.
Currently I am getting about 700 PHT per week completely free. If I get the boost I will be getting about 1400 per week. With the current price this means total of ~5600 PHT in 4 weeks. At the current price of the token of $0.00012 I will earn about $0.67 in 4 weeks. If the price of the token doubles, that will be still 3 times less from what I paid.
This App -> cloud mining has over 100k downloads on Android and I guess some on Apple devices. I'm guessing those guys are trying to cash out what they can and just leave like many others did so far. And why on Earth they renamed the token to match something that is already listed in CMC.
Anyway, my conclusion is that from once a promising project Phoneum is about to vanish is the coming months. I normally would leave a referral link, but I do not think that they are worthy of your time guys.
Thanks for reading my rant. Hope you guys find this useful in some way.
