Bitcoin Forum

I am fairly new to the Alt-coin scene, but see a real potential in EarthCoin. But before I get too much invested in EAC, the question I am posing to the experts is -

Is there any fundamental flaws with EarthCoin?

I am not referring to the pre-mine or the supposedly questionable dev team, but I am asking about the technical and mechanical characteristics of the coin... block time, confirms, security, anonymity, transaction fees, algorithm, long-term network health, DDOS, 51% attack, etc and etc. There is a lot I do not know about crypto-coins and I know that some coins have special features, such as the 51% attack shielding of GLD, quick transaction times of some coins, transaction messages, etc and etc. I know that EarthCoin does not bring any new innovations to the alt-coin scene, but is the coin solid and well-built for everyday usage.

Thanks!

I am also interested. Any experts or crypto-students?

For me EarthCoin is just simple another ALT-coin.

Yes, if you don't take objection to the pre-mine, it's a perfectly usable coin.

It's a copy-paste with a few values tweaked. You can't really screw it up accidentally.

well.........

there is nothing wrong with this coin,

accept that they pre mined about 320 million ! and that is for promotion purpose i think, s.a Givaway's ect ect

its strong fast and just beginning the future will tel eventely

querytime wil somtimes high but its oke , i hope there wil be a pool in holland to si i can switch over

i am mining at this pool and go's well : http://adtpool.co.uk/ (http://adtpool.co.uk/)  steady and  reculair pay outs wen you set it to 1  :)



if you fee this post whas hellpfull feel free to put a smal donation at my Earthcoin adres :  eY4WcL4tfDmyCeu5Y4SJ3ztHEiJeVRHS6H

How many other coins use the same type of hashing as it does to secure their blockchains?

Also, is it scrypt or some other type of hashing that non-specialised equipment can mine?

Remember that what makes bitcoin secure is the fact that more than half of the hashing power on the planet is securing it.

Are more than half of the machines capable of mining Earthcoin mining it? Or are more than half of such machines mining something else or not currently mining anything?

If more than half of the hardware on the planet that could choose to mine Earthcoin is not doing so, that means more than half of that hardware could choose instead to attack it...

The best way to feel reasonably confident a coin is secure is for more than half of the gear on the planet that could mine it to be mining it, because that indicates it is more profitable to mine it than to attack it.

If more than half of the gear on the planet that could mine it is not mining it, that is bad, as it maybe indicates that mining it is not the best use of the kinds of gear that could mine it. Leading to the question of whether it is worth attacking it. Maybe at some point even though it is not worth mining it might be worth attacking...

-MarkM-

Thanks for the replies.

The reason I ask is because EarthCoin is a perfect crypto-coin for my business to use, that is the name, logo, colors, theme and feel. Also I like the fact that it is a high-count coin, 13,000,000,000 or so, which means that coin should stay low in value, so between $.01USD and $.10USD for much of its life-span.

I have absolutely no issues with the pre-mine, it will have little or no effect on the coin and my intended implementation. In fact, if the devs do dump the coin and price falls, I will probably buy the majority for my own use.

I just want to be sure that the coin is a high-quality coin with no in-built issues or problems, such double-spend weaknesses, etc. before I put the wheels in motion.

Well, if it ever reaches 0.1 USD, then I will be one of the happiest miners on Earth...

The coin itself is technically sound so it is up to the developers to make it worthwhile in the long run to mine and trade (and use for online payments).

Actually that number of coins is I think maybe outside the safe range, there is an article somewhere pointing out that the numbers Satoshi chose carefully fit into the ranges of numbers various programming and script languages can conveniently work with.

Much more than 21,000,000 coins and something somewhere in some language or other breaks, kind of thing.

Unless you use less digits after the decimal point so as to free up more digits before the decimal point.

So if they have less than eight digits after the decimal it should be fine, assuming they chose the correct number of digits after the decimal to free up enough space before the decimal to accomodate that max number of coins.

-MarkM-

I guess it's like litecoin. Doesn't have true innovation (although litecoin was the first scrypt coin). But there's nothing that stops his coin from being really successful

Most of people does not like decimal points. Computer scientist does

As a software developer, I can say that floating point is complicated. (Read How Java's Floating-Point Hurts Everyone Everywhere)

Well, it is rumored that bitcoin itself was also heavily premined (Satoshi and few friends/colleagues probably mined about 1M BTC in times when BTC was just some proof-of-concept code run by few crypt-experts) and despite that it was a big success. So I don't see that much problem in Earthcoin, considering quite large part of it was given away .... there is still risk of someone dumping large amount of coins at once and destroying the price, but in the past, bitcoin have always recovered from that and risen back again and even further, so I'll be optimistic :)

earthcoin transaction time is very fast , that is one of the major plus points for me.

well 320 million on a totality of 13,5 billions is not muts, this coin [ EarthCoin]  is way better then bitcoin; the have only 21 million?

pre-mined yes but with a purpose :

promotions give away's atractive presents, good community overall a good coin with good chaces for the future i believe

All what we want is : speed ! right ? ;ighting speed transactions that all what we want becouse if we sell stuf we would like to have a direct payment right?


thats where earthcoin comes in .............!! the coin with future ........

Bitcoin premine: 4% or 8% if I remember correctly

link plz, i'm very curious about this

IMHO premine like 2% (“Premined 2% for promotions, giveaway, bounties, dev and long term support.”  its 270,000,000 coins. ) and also, it has professional team support, so its yet-another-altcoin-with-good-team and its mean it survive

oh good, so at the current price they "only" premined 1.5 million dollars.

Seriously.. even if they tried to dump only a couple millions, it wouldn't even work (with current volumes on the small exchanges that supports EAC)

Take 30 minutes of your time to take a look at EAC's main post. There is so much stuff that has been built in a couple days to support EAC it's crazy..

have you ever wondered if it was possible to put a pre-mine to good use in order to boost the value of your coin?

it looks like it's working for EAC, everyone is getting involved, thanks to giveaways,bounties,awesome art, games, pools, etc.

Litecoin was the third scrypt coin, after Tenebrix and Fairbrix (both of which are still running, I think.)

-MarkM-

It was not pre-mined. It was announced long in advance, a whitepaper was published, then once the genesis block was created everyone was free to mine it if they chose.

It also was not insta-mined upon release either.

-MarkM-

How fast? Faster or slower than GeistGeld?

-MarkM-

Is there a ledger showing what the pre-mine has been spent on so far, and a budget accounting for what it is to be spent on going forward?

The reason I0Coin was created was that IXCoin had a pre-mine, and to this day that pre-mine is not accounted for...

People are still sitting around waiting for the developer to show up and pay off the various bounties they have earned and holding off on doing new things due to wondering whethr he will in fact pay them if they do work on the coin...

-MarkM-

None. It was mined at normal speed, by anyone who chose to, no GPUs or FPGAs or ASICs needed, having been announced well in advance and how it works described in a whitepaper.

-MarkM-

This thread is NOT for discussing the premine of EAC... that has been discussed to death on many other threads... please do not bring that discussion here.

I am only concerned about the technical side of the coin and how that may affect the coin in a year, 5 years, 10 years, etc.

Very interesting about the number of coins and decimal points... can anyone with more experience or coin algorithm knowledge expand on this?

Thanks!

Long term ?

Ok i solomined early 5 blocks & sold them for OVER 1 btc, easiest btc I ever made.

This coin was designed as a way to catch attention & has major backing behind it in btc.

Buy orders of 15+ btc , oh and it was on an exchange a few days after it launched !

Imagine that.

Let's see what happens down the road in case you are naive.

Fairbrix was shut down by Lee
A long time ago.

I imagine the technical criticism is that the # of coins is above 2^31 or 2^32 (corresponding to the maximum value for signed and unsigned longs (http://en.wikipedia.org/wiki/Long_integer) respectively - which are confusingly called ints in C++ and Java). Thus naive implementations that try to count the # of coins may overflow causing "really bad stuff to happen". Moving to double longs (64-bit) obviously fixes the problem.

This is not even a real criticism because bitcoin has far more than 21 million units, which isn't represented by a long anyways.

Hahaha guys.  The Satoshi wallet contains 7.6% pre mine!! Hahaha triple what EarthCoin has done.  if anything Bitcoin is suspect and not EarthCoin.  Work in percentages boys.

Bitcoin uses 64 bit integers to represent Satoshis. In order to fit more than 90,000,000 or so (the sctual figure is in the various articles etc) you need to use those 64 bits to represent a larger portion of a whole coin than the 1/100,000,000th of a coin the Satoshi represents.

Basically lower the number of bits/digits that will be printed after the decimal in order to increase the number that will be printed before the decimal.

The decimal-number representation is cosmetic, it is merely how you print the value that is represented by the 64 bit integer that is in the blockchain.

-MarkM-

I've seen them show up within a second in my wallet. It's actually quite amazing.

I don't imagine the Earthcoin team actually made any particular changes to the transaction code, but the speed of the network is excellent.

I've seen Bitcoins arriving in a second too.

Equally impressive.

How many seconds per confirmation, and how much hash power does each confirmation correspond to?

Also, how many nodes?

Is the network still so tiny that some nodes are connected to all other nodes?

In Bitcoin some nodes connect to to well over a thousand other nodes but that still falls far short of providing a single intermediary between any node and any other node.

-MarkM-