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VERY IMPORTANT ANNOUNCEMENT

Dear Stakeholders,

The servers controlled by former team member Jenova contain the seed nodes for Ellipal, the mobile wallets and support ElectraPay and all third-party wallets. They will be SHUT DOWN PERMENANTLY in a few days/hours (I have not been given a specific date as of yet) which means ECA in mobile wallets and Ellipal will FREEZE unless you convince him to re-open the servers for you. He did kindly offer to keep servers running for 0.2 BTC/month but I have concluded that 2.4 BTC/year would be an unsustainable cost for the ECA project and therefore service for Ellipal, mobile wallets, ElectraPay and all third-party wallets will be discontinued the moment servers are cut. Desktop and exchange wallets WILL still function as far as I am told by Jenova.

He is generously keeping the servers open for the time being so users do not have their ECA frozen but I recommend you to WITHDRAW your ECA to a desktop or an exchange wallet AS SOON AS POSSIBLE. After server support is cut DO NOT send any ECA to Ellipal or mobile wallets. Desktop and exchange wallets will be the best places to keep your ECA at this point.

What remains is the block explorer and website. I will continue them but I am deciding whether to maintain the current ones on Jenova’s servers or create new ones to host personally. You will be informed further as soon as I decide.

Please SHARE this message with as many users as possible. I will also ask the ECAP team to share this and hopefully they will. I want all ECA holders to read this message. I do not want anyone left behind. Therefore, the Bitcointalk thread will be locked for the next 3 days to ensure as many people see this message as possible without the clutter of additional messages. If you have any queries PM me in Bitcointalk and I will get back to you.

I get your point and now understand where the issue is stemming from. The first sentence is poorly worded. The word capital is very general. It is wrong to assume only financial capital. Other capital types that may apply are: individual capital and intellectual capital along with others.

Investment also has multiple definitions:
The action or process of investing money for profit.
An act of devoting time, effort, or energy to a particular undertaking with the expectation of a worthwhile result.

I invested a lot of my individual, financial and intellectual capital into the project for the past four years. The stakes compensate me for this.

The other side is welcome back anytime, but at this stage, from the attitude they are showing, I assume they will continue with ECAP and therefore I must ensure ECA is prepared for the transition which I anticipate will be smooth. The current ECA stakeholders should assume that the upgrade to v3.0 will not go ahead for ECA as it is now intellectual property of ECAP and so ECA will remain on the current chain. Investors should also assume that ElectraPay, which was an initiative of the former team, will not be supported for ECA in the near future unless an agreement is reached with the ECAP team.

Forking Electra was a big priority. If the current code was hidden from me, the project would have died for sure.

I will pay for the new critical infrastructure if needed.

My initial objectives are almost finished. When they are, I will not have additional goals.

If new replacements are chosen in the foundation, I will very likely accept that they stay in charge of the funds. If the foundation is dissolved, I will use the funds to pay for the new infrasructure and complete the objectives. If any funds remain after the objectives are complete I will give a grace period of 6 months for a new foundation to be set up and if a new foundation is not set up I will assume the users are not interested to take the project further and will donate the rest of the pre-mine to charity and provide evidence of it.

Funds returning to me from the foundation is unlikely.

Article   11   –   Dissolution

2.   After   dissolution,   the   foundation   will   remain   until   the   financial   balance   is   0.

5.   If   the   foundation   has   a   surplus   on   the   financial   balance,   the   remaining   finances   must   be   spent   on   the   sustainability   of   the   foundation   where   possible.

If the foundation is dissolved and funds returned to me, then the project will go back to the initial objectives listed in the OP.

Premine is for the project, stakes are not. If ECAP hadn't come about this would have still been the case.

I have already replied to a similar statement made a few posts ago.

My activity has increased in response to the higher number of posts than usual and because it is a critical month for the project. I do try to remain objective in my responses but some emotion is likely to slip out from time to time. If you have the time, PM me which statements you considered irrational and I will try to reword them into a more rational state.

I did not intend rogue as an insult. I don't think I have ever insulted a team member.

I have sent all remaining funds that were promised for the project to the foundation. So the community and foundation can freely decide on how to operate the funds from now on and what objectives to pursue. The real question is if the foundation will decide to stay with ECA or not and it is something I am completely unsure about. If they do not stay with Electra, I do not know what they will do with the ECA funds. That is something they will have to answer and please do ask them because it will have an effect on which chain they decide to support. They will have more funds if they stay with Electra and lose half if they switch to ECAP but I am not sure if this is an important incentive for them of not. As far as the foundation tells me it will be around a week before they announce which chain they will support.


I am guessing the airdrop will happen because everyone loves free coins but to come to the level Electra already is at will take a lot of extra investment, work and time on their part and they will also start with less funding.

I am obviously sentimental towards ECA and if the foundation announces they are with the Electra project, it will have a good harmonious future that will include me as an advisor and contributor.  I am also very appreciative of the support you offer.

As I said before, I knew a malicious move was coming and acted preemptively and made initial position reductions without announcement but transparently.

http://electraexplorer.info/address/EeUZHkxP12NQtsZzDZZzzkQ76BM9PG8ZNL

The amount sent to the address you mention seems to be around 500 million unless I am reading it incorrectly. You are also not taking into account that large amounts of ECA was withdrawn from exchanges back to the public wallets and sent again a few days later. I definitely did not sell 500 million there. I did not at any point during this year control more than 900 million ECA pre-mine or stakes. Look at page 2 of this address if you want to see examples of ECA returning to the public wallets:

https://explorer.electraproject.org/address/EJXiQYb5tYjVdn8erLT92F6D5ZmCG2ZCvZ

While looking through the addresses to counter your argument I have actually come accross an anomaly. The wallet containing this address on my desktop has 0 ECA in it but for some reason it says 16,000 ECA in the block explorer. I will look into this.

The other arguments you make are generally about what the team did versus me. They did do a lot. I never said I did all the work and gave credit as much as possible but I also made important contributions and major sacrifices for this project. If some people want to start all over and pursue a new direction it is their choice.

Be my guest.

Dear stakeholders,

A couple of days ago, some rogue users recklessly announced an unauthorized fork with unpublished/un-reviewed code, created FUD and directly caused the price of ECA to crash by 90% which was the highest daily crash since the bonanza. I anticipated a risk of such a move which is actually what provoked me to preemptively reduce my ECA position. I was not permitted to see the code or related discussions so I assumed a malicious move was imminent and I have been proven right. I believe this move was going to happen whether I had scaled out or not but as a result of my actions, they were forced to execute this plan quicker. Sadly, I realized it too late to stop it completely.

I am committed to ECA and have taken steps to resolve the issue in a manner that will benefit current ECA holders. As a result of part of the team breaking off and creating a new fork and coin brand called ECAP which will give a 1:1 airdrop to most ECA holders, I have decided to take two drastic measures to attempt to preserve ECA’s unity, stability and ensure it remains the primary chain in order to maximize the wealth of current holders. Firstly, the foundation will have received all remaining pre-mine by the time of this announcement. Secondly, I will no longer control any stakes by the time of this announcement. There were enough buy orders available to fully sell all 300,000,000+ ECA staked holdings in multiple exchanges in the past 24 hours.

By doing these actions, I have kept my word by having the entire pre-mine guaranteed for the project which preserves Electra’s legitimacy and as stakes no longer exist in publically viewable accounts, there will probably be no reason left for unnecessary, wealth-reducing splits ever again. Despite being out of all publicly viewable positions, I will continue to write in this forum for Electra. As I currently have no significant holdings, either chain’s performance will minimally affect me and if one version of the chain ceases to exist I will buy whichever one becomes the primary chain. In the end it is up to the stakeholders, the foundation and team to decide which will become the primary chain. Whichever chain prevails, I accept the result and am glad it will finally resolve an issue that has dragged on for four years.


I created a comparison table to help stakeholders decide on the primary chain.



*This table reflects the current situation and may change. More people may join ECAP or some may abandon ECAP and return to ECA. ECAP code may also be altered.

*November 23 is the date of the snapshot for ECAP. Anyone who had their funds on an exchange when the snapshot was taken will probably not be eligible for the airdrop.

I am aware we have had great talent contribute to the project.

Github has the current version. The upcoming code is in a private room. I need to see the hot code and the Discord discussion group for the new version. Please provide links if you have them so I can check them out. PM if you want I don't mind.

I would like to explain what led me to the decisions I took this past month. Firstly I must mention I have not done anything illegal or, to my knowledge, contradictory to any messages I have written previously. I am also not anonymous. An exchange leaked my identity years ago.

Ever since 2017, the largest funding for the project has been provided by me either directly or indirectly. I have been directly involved in two vital hard forks and many exchange negotiations until asked to step aside.

I am severely concerned that after multiple requests to the team over the past 2 months, I have not been shown the new code or been allowed to observe its progress. The potential possibilities of what is being done with the code seriously worry me. As I am not able to see the new code or who is working on it and therefore I do not know what direction the project is taking or what will change which is a very irregular position for a founder and primary donator to be put in. It is a red flag for me and hence I took the decision to reduce the ECA exposure of the funds I control. The removal of this thread link (my preferred line of communication) from Coinmarketcap a day after my previous post was also a factor in this decision. I will scale back in when the uncertainty regarding the code no longer exists.

There seems to be misconception about the definition of the pre-mine which I should clarify. The initial pre-mine is 1,000,000,019 as mentioned on day 1. It is not 1,600,000,000 as some people are insisting. It is recorded in the blockchain, unchangeable along with all expenditures which stand at 705,913,613 (hedge not included) of which a least 550,000,000 have gone to team and community projects. I offered to give the remainder of the pre-mine to the foundation after the team insisted but the offer got rejected and I was demanded to include the stakes and part with 880,000,000. Stakes are not pre-mine.

I have never guaranteed profits or told anyone to buy or sell Electra. In terms of transparency, Electra is in the top tier of the blockchain industry. Do not buy a cryptocurrency if you have concerns with it. There are 7000+ other options to choose from. In USD terms, an extremely high amount was invested into the development of the Electra blockchain and it is one of the best out there today. My issue is with the information being withheld from me and the team’s uncompromising attitude towards me. Not the project itself.

Great job by the team on the continued work with ElectraPay:

https://twitter.com/ElectracoinECA/status/1305419248211292160

Electra, HitBTC'ye eklenmiştir.

HitBTC link:
https://hitbtc.com/ECA-to-BTC

Haber kaynağı: https://twitter.com/hitbtc/status/1275009864658554882

News from HitBTC:


Dear Traders,

We have successfully added #ECA by @ElectracoinECA
 to our platform.

Trade $ECA against $BTC, $ETH & $USDT visit: https://hitbtc.com/ECA-to-BTC


Source: https://twitter.com/hitbtc/status/1275009864658554882

I have already made a donation. As it is from private funds I will not likely publish an exact figure or location just as no one else donating is required to.

However, it seems I need to give a ballpark figure because I have already gotten many enquiries about it. The percentage of the current amount donated that is from me is 200%-500% greater than the percentage of total ECA I control (project funds included). I hope this answer and amount will be sufficient.

Looking at the fact that the extra 2 BTC daily volume created by the news surrounding the fundraiser is greater than the 1 BTC required, I am confident we are on track to reaching the goal.