[ANN][EAC] EarthCoin *SEEKING NEW EXCHANGES - HUGE VOLUMES BEING MISSED!

[illodin]

Trading at 3-5 satoshi range makes a horrible trading experience - imagine a merchant trying to cash out 1M coins and having 50M coins before him in sell queue at 4 satoshis. So should he take a 25% loss and sell immediately at 3 satoshi or wait an unknown time at the 4 sat queue? Just gotta hope it never goes that low.

[1714691745]

1714691745

[1714691745]

1714691745

[testbitcoiner]

And of course the price drops...there is a huge emission of coins, so there is an inflation.  More coins goes out than new coming blood buys. If there was an increasing price, it would be just another bubble/ponzi...

most of the alts are dead now, including at the very top Earthcoin!
Sorry it was a fun ride, I might buy back in with some small $ once it hits 3-4satoshis,seems like that point will be reached within 1.5-2weeks
Lost some good money on EAC myself but glad I sold all of my EAC at 35satoshi

it's not dead... one just gets the impression that it's just not being developed -- at all...

dogecoin just chnaged the block reward system completely. random to fixed amount via a hard fork.

so people see doge is being worked on...


once the eac team does some actual WALLET/client updates with improvements, people will see it is not dead.

eac still has one of the best brands out there.


imho the devs are too cheap to hire a competent programmer. that's the main problem why all they're giving us is talk

[testbitcoiner]

Trading at 3-5 satoshi range makes a horrible trading experience - imagine a merchant trying to cash out 1M coins and having 50M coins before him in sell queue at 4 satoshis. So should he take a 25% loss and sell immediately at 3 satoshi or wait an unknown time at the 4 sat queue? Just gotta hope it never goes that low.

 that's why the argument that price is not important at all and all will be fine in the long run, is garbage.

price is not important if it is in the 200 or 300 range- not if it is in the teens


but all this can be fixed easily.

eac is not a premeditated scam like moon... and even moon went from 1 to 20 (and to 1 again).

there is a bright future as soon as the devs stop feeling sorry for themselves and stop being too cheap to hire competent help

at the end, no one here is gonna use incryptex if it is the sole reason why all money and manpower got drained from eac and put into an exchqange which will or will not be shut down by new regulations by the sociopathic and multiple personality disorder suffering legislature

lets face it: most of us only bought into eac because we were promised a eac/usd ONLY exchange and we knew this would create insane demand for eac as he only was to transform alts into $$$ without using big exchanges and the most watched coins, i.e. btc and ltc

this promise was broken and not even that, all energy was redirected away from eac towards incryptex. the result is 14 sat at this moment

the maddening thing is that all this can be fixed easily and people will let bygones be bygones but it takes both sides for that

[hashmen]

And of course the price drops...there is a huge emission of coins, so there is an inflation.  More coins goes out than new coming blood buys. If there was an increasing price, it would be just another bubble/ponzi...

most of the alts are dead now, including at the very top Earthcoin!
Sorry it was a fun ride, I might buy back in with some small $ once it hits 3-4satoshis,seems like that point will be reached within 1.5-2weeks
Lost some good money on EAC myself but glad I sold all of my EAC at 35satoshi

it's not dead... one just gets the impression that it's just not being developed -- at all...

dogecoin just chnaged the block reward system completely. random to fixed amount via a hard fork.

so people see doge is being worked on...


once the eac team does some actual WALLET/client updates with improvements, people will see it is not dead.

eac still has one of the best brands out there.


imho the devs are too cheap to hire a competent programmer. that's the main problem why all they're giving us is talk

nop...pretty much sure its dead

[sitefive]

Oh crap at 11satoshi on coinedup already
not much of a buy walls either on both cryptsy/coinedup
bit sick in stomach to be honest, had a friend who spent almost half a years wage on earthcoin when he bought it at 90satoshi thinking it was the best investment ever and he could remodel his apartment with the profits,pretty much sure it was all his savings.  

[illodin]

Oh crap at 11satoshi on coinedup already
not much of a buy walls either on both cryptsy/coinedup
bit sick in stomach to be honest, had a friend who spent almost half a years wage on earthcoin when he bought it at 90satoshi thinking it was the best investment ever and he could remodel his apartment with the profits,pretty much sure it was all his savings.  

Yea, the big investments have already been made - the amount of coins being mined every day just can't be bought up anymore. Did my part and bought 20M but that amount is mined in almost a day. So tomorrow someone else has to buy 20M to keep the price from not falling.

[testbitcoiner]

nop...pretty much sure its dead

then why are you here?

my criticism may be harsh, but it is constructive.

saying "it's dead" only helps you if you plan to buy some at a lower price.

otherwise why even bother posting?

this attitude is self serving and pretty transparent.

it is nice to see you seem sure that you can earn some money with buying eac low and sell high, but while this signals confidence in the coin, it is not really helping to create the foundation for necessary change

[earthcoin]

Hello Earthlings.

I’ve been reading the forum, which it might not seem as I haven’t posted anything up for a bit, but I do see what y’all are talking about.

I’d like to address a couple of things on that right now.

First, the issue of the algorithm and rewards per block. I see a number of proposals out there, and I’ll tell you straight up that we are largely in line with ATXsilver on this. However, I want to go a little deeper.

So, Proof of Stake.

This may be the most uneconomic and stupid idea ever put forth in the crypto community. I doubt it, as that well has no bottom, but this is a coin. It’s supposed to faciltate trade and foster development of an ecosystem. This is anathema to simply hoarding it. As ATXsilver pointed out, it essentially incentivises taking your coins out of circulation for a long/indefinite period of time to “earn” a little extra coin. It’s illusory.

Let’s look at reality. In a system that doesn’t use fractional reserve and other such nonsense, you want to have money constantly building things. A savings account accrues interest because of it’s use, not it’s disuse. To wit: You deposit monies in a savings account at a financial institution. We’ll go with a Ceritficate of Deposit, as it’s the easiest to illustrate the concept with. This money is in the control of the financial institution for a minimum period. We’ll go with six months on this. If you pull it out of before the period is up, you incur a penalty. You forfeit a part of the earnings, sometimes even a part of the principle by doing this.

Why do you suppose that is?

I won’t leave you hanging too long. But do think about it for a moment before reading the rest of this.

The reason is in the mechanics of finance. A bank does NOT “create money” unless it engages in fractional reserves, which is a massive fraud. Wealth is created by making things and providing services in constant exchange. This is NOT a static process, ever. The bank takes that CD, which is a loan made BY YOU TO THEM for a specific period of time, and they invest it in the form of loans for various purposes, which are paid back at a higher rate of interest than your CD. They share the profits with you in the form of interest. This is a valid and highly lucrative method of making wealth. But if you pull out early, then they have to pay from other reserves to make you whole, and that’s a breach of contract. Luckily, that breach is within the contract in the form of penalties. This makes it so that you are less likely to breach, and they have incentive to make the most they can by trade and arbitrage while they control the money.

Proof of Stake, on the other hand, just has it setting there idly. This doesn’t improve the value of the brand, doesn’t help you, and doesn’t help the coin’s ecosystem. Nothing is being done with it. It is a reward for sloth, which should not be rewarded. It goes agains every non Keynesian economic principle. You’ll find few disciples of Keynes in the crypto world, and they aren’t going to like a dynamic economy anyway.

You want to earn interest on your coins? EARN IT! Make loans, make investments in people’s ideas with a specific, periodic repayment. Look up what Return on Investment really means, and you’ll have a firmer understanding of what I’m talking about, and why POS is a really amazingly bad idea.

Now, on to rewards reduction.

I think it’s a good idea to cut it sooner, but that halving early might be a bad idea. Perhaps cut it by 25 % in the near future, and then the “normal” halving on schedule. We also need a lot less focus on mining and a lot more on real world adoption. The mining is working more or less as intended. I’ll adress multipools at a later time, as the team and I are discussing that in depth now. I’ll say that I think they do less harm than is perceived, as they increase demand for the coin, and our difficulty adjustment is rather robust.

But cutting the reward down a bit might also drive prices up temporarily, and that could lead to speedier adoption if it’s played right.

So, on that note, whether we decide to do it or not, I would encourage those of you who mine to find better ways than exchanges to do things with your coins. And when you do, PROMOTE THE HELL OUT OF IT!!!!

Also, a flaw that was pointed out to me in exchanges. They tend to list the “last sale” as the “average” which means you can think a coin is trading robustly at, say 17 satoshis, when in fact that was one small sale.

This can be manipulated! BUY at a higher rate. And watch. I’m going to do this shortly, and we’ll see how the theory plays out. It may not be today, as I have time constraints, but it will definitely happen in the next few days. Watch for it.

That, coupled with making it somewhat more scarce, seems a good start to me.

Mining. Above I sort of disparaged mining. The statement was incomplete. Miners are absolutely vital to Earthcoin. But they are one aspect of many, and it is my belief that the other aspects are being marginalised by the focus on miners. ATXsilver, Centurion, and a few others are leading the way on the right path.

Ultimately, money is a unit of exchange for real world goods and services. When it ceases to be so, or fails to become such, it fails. Ultimately, all fiat currencies fail. In modern times, they have largely been “replaced” by another fiat currency, but historiclly it has defaulted to commodities, particularly precious metals. This is because it’s something that will always be of tradeable value.
But in the modern world, precious metals have become somewhat less of utility in the common market due to the sheer speed of transactions. This is where crytocurrency really shines. Even BTC, which is about the slowest coin out there, transacts orders of magnitudes faster over a distance than either Fiat or precious metals.
We can outshine bitcoin in this, as it will absolutely require systems of trust, like credit/debit cards, in order to transact in the meat world. It’s speed is good enough for online transactions, but it fails utterly for the guy that wants a cup of coffee. Our transactional speeds are swift enough without a third party to make that problem go away. This puts us in a great position to market Earthcoin as the next big thing. It’s not the only thing it’s got going on, though.

The miners make this speed happen, and as such deserve to be rewarded. I just think that the current exchange model is lacking, and that miners are not being proactive in this. EAC won’t sell at 20 satoshis if nobody will let loose of it for 20 satoshis. So, Again, I’m calling on the miners and traders to NOT sell low. I’d frankly set a mark at 100 sat, and sell no lower. If YOU think it’s worth that, and act accordingly, then others will see that, and the perceived value will increase dramatically.
As mentioned above, in the next day or two, I’m going to buy EAC at an ask price of 100 satoshis. I don’t have a lot of bitcoin, so this will be one guy doing his part. If a bunch of you do the same, you’ll pump the price up above that real quick. Exchanges are driven by emotion, not fact. That some traders have their emotions in check doesn’t change this, except for them. And they will manipulate the market in their favor. Nothing wrong with that, but if you UNDERSTAND it, you can be on the profitable side.
I will not buy EAC for less than 100 Satoshis as my offer. Yeah, at first I’ll probably snap up a bunch of buys along the way to that, because that’s how the exchanges are structured. But if just a few of us do this, nobody will sell at the low price anymore. I will not SELL for less than 150. I don’t need the money right this second. I can wait. If just a few of us take this approach, the coin will become much more valuable very fast. As a quick note, is there a way to restrict the buy or do it one to one on cryptsy? Because since I wrote this I tried the above on a very small test and it just took the lowest offer.

But exchanges are only a small part of the game. Talk to anyone you think will be interested in taking EAC as payment. Even if it’s only partial payment. Get grocers and what not interested in using it as a bonus program, online retailers to accept it as part payment or as a bonus program, writers of digital content to price their works in EAC, etcetera. This is what the dev team is focused on, and this is what will make Earthcoin viable for the future.

We have what it takes to take on the giants and come out a winner. We just have to do it.

[mrsimons121]

we have got response from bter, to confirm that our application is received and under reviewing process

[Oldminer]

wow..this coin died in the ass

[placebo]

wow..this coin died in the ass

Of course it is, people are buying articles on altoulet.com using earthcoins, all dead articles, you know, it are all zombie articles. Very nice that you can buy stuff with ashes!! What will happen when this coin was not dead? Buying houses or so?

[earthcoin]

wow..this coin died in the ass

Of course it is, people are buying articles on altoulet.com using earthcoins, all dead articles, you know, it are all zombie articles. Very nice that you can buy stuff with ashes!! What will happen when this coin was not dead? Buying houses or so?

Baby steps, man! Let's go for jewelry and silver first... Oh, wait. We got that. Maybe Houses ain't such a bad idea!

This coin ain't dead. I didn't start it, but this is my baby now. I'm not a quitter. It didn't go according to plan (as the above post), but I bought EAC today, and I will continue to acquire it and TRADE it for goods and services. I'll write for it, I'll sell trinkets for it. It ain't dead, it's in its infancy. We had one growth spurt, which settled down. We had a childhood illness, which is being cured. The Earth is our oyster, let's CLAIM IT!

[slyA]

Jesus Christ. Tell yourselves a lie long enough you just might start believing it.

When this coin was at 180 satoshi, people asked for info on the behind the scenes development. WESand EAC or whatever kept saying soon soooon. And then it went sub 100 to 70.

Still there was a lot of back patting and "soon" sentiments calling anyone one with a different opinion a troll.

Then the coin went sub 50. Common sentiments being "SHUT THE FUCK UP ABOUT THE PREMINE".

Then sub 30. The former cheerleaders started to slowly realise their baby was dying. Devs were silent at this point.

Sub 20. The cult members who bought at 80 and told me to shut the fuck up were now scared and asking for the premine too little too late.

Now someone suggests a POS model to help curb the infaltion and all you jokers can think of is "LONG TERM!!! EAC WEAK HANDZ!"

It's like you guys don't even learn from your mistakes AT ALL.

And then you claim you can use EAC to but trinkets. Well I can trade a bubble gum for a hair pin, does not mean that is a currency. This coin will be sub 10 satoshi soon and you people will still be saying "LONG TERMZ" while asking other people to tell their friends about EAC.

The utter nerve of you guys. You have successfully burned all your potential investors and chased away the little fans you had left. Good job guys. "LONG LIVE EAC! LONG TERMZ!" just like every other currently 1 satoshi coin out there.

[earthcoin]

Jesus Christ. Tell yourselves a lie long enough you just might start believing it.

When this coin was at 180 satoshi, people asked for info on the behind the scenes development. WESand EAC or whatever kept saying soon soooon. And then it went sub 100 to 70.

Still there was a lot of back patting and "soon" sentiments calling anyone one with a different opinion a troll.

Then the coin went sub 50. Common sentiments being "SHUT THE FUCK UP ABOUT THE PREMINE".

Then sub 30. The former cheerleaders started to slowly realise their baby was dying. Devs were silent at this point.

Sub 20. The cult members who bought at 80 and told me to shut the fuck up were now scared and asking for the premine too little too late.

Now someone suggests a POS model to help curb the infaltion and all you jokers can think of is "LONG TERM!!! EAC WEAK HANDZ!"

It's like you guys don't even learn from your mistakes AT ALL.

And then you claim you can use EAC to but trinkets. Well I can trade a bubble gum for a hair pin, does not mean that is a currency. This coin will be sub 10 satoshi soon and you people will still be saying "LONG TERMZ" while asking other people to tell their friends about EAC.

The utter nerve of you guys. You have successfully burned all your potential investors and chased away the little fans you had left. Good job guys. "LONG LIVE EAC! LONG TERMZ!" just like every other currently 1 satoshi coin out there.

POS IS inflation, from any viewpoint including Keynes. We're trying to rebuild, not shoot the baby in it's crib.

[surname121]

how to rebuild? any plan?

[jones99]

we need switch to POS, i am sick of feeding miners.

fine.i decide to dump EAC, its easier for everybody

[Backlash]

how to rebuild? any plan?

Where have you been? If you had followed the progress as closely as myself and many other dedicated members, you wouldn't have to ask us that. Please read the last 20 or so forum pages and you will be up to speed.

[Silvano]

POS is inflation. if you want definitively kill this coin, then get POS.

[Backlash]

fine.i decide to dump EAC, its easier for everybody

How much do you want for them?

[Silvano]

btw, it's right to note that only 30M EAC need for dump price to 5 or 4 satoshi...
this situation is really very dangerous for coin.
nobody wants to assume himself the risk of trading at this price for high amounts. actually, at 14, 1 satoshi more or less equal at 7% gain or loss.

yes, as said by "eartcoin" above, if the community start to buy a little bit everybody, and not for sell immediatly, we can made a classical bump, and market, that is really moved by emotions, can start to buy himself.. but we have not to sell behind a certain price never.
we are able to do that? i don't know...  

it need lot of BTC for do that..

(sorry for my english.. as usual  )