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

[porcupine87]

Why should I use EAC when I can use innovative coins like Blackcoin or Darkcoin?

EAC is far ahead of those coins in terms of usability and adoption, so far.

hm I don't know. the market cap decreases steady 5% now every day for 50 days. Per coin the decrease is even more. So time to buy? ^^

the main advantage of eac is not really adoption, but spread of the currency.

What do you mean by that?

this however is threatened by the low price. people might just cut their losses and sell, thus leading to a concentration of eac into few hands.

not everyone can afford, or wants to deal with a low value coin in his portfolio.

I did. Have sold my last EAC yesterday...

[1713893473]

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[tins]

And when have we said we are not touching the code?

http://earthcoin.eu/?p=293
https://bitcointalk.org/index.php?topic=487624.msg5373252#msg5373252
https://earthcointalk.org/forums/topic/seeking-coin-wallet-and-service-developers-bounties-available-escrow-needed/
https://cryptocointalk.com/topic/6629-seeking-coin-wallet-and-service-developers-healthy-bounties-escrow-needed/

The only thing we've changed our official position on was ASIC resistance (since ASICs are an evolutionary step forward).

and YES.  We are developing, but only one person reached out to us to help develop the next version of Earthcoin (Linki) and he is a good programmer but new to crypto, so he is learning as he goes.  If you want to see dev happen faster, please feel free to make an introduction to some other experienced dev who is willing to put aside work on their own coin to work on Earthcoin.  We would love that intro and have a bounty ready for them.

Normally, I try to not be involved in day to day workings in the crypto community outside of mining and financial support.
That said, I know of a person here in St. Louis, MO (USA) that has (and still working on) developed a coin with hopes of mass adoption in the local business arena. He is a bit reclusive, but I was promised a meeting with him to see his setup (as I am setting up my own mining farm). I do not know if he would have any interest in taking on this kind of project, but I'd be willing to ask if the EAC community/devs would like for me to do so.

[testbitcoiner]

Why should I use EAC when I can use innovative coins like Blackcoin or Darkcoin?

EAC is far ahead of those coins in terms of usability and adoption, so far.

hm I don't know. the market cap decreases steady 5% now every day for 50 days. Per coin the decrease is even more. So time to buy? ^^

the main advantage of eac is not really adoption, but spread of the currency.

What do you mean by that?

this however is threatened by the low price. people might just cut their losses and sell, thus leading to a concentration of eac into few hands.

not everyone can afford, or wants to deal with a low value coin in his portfolio.

I did. Have sold my last EAC yesterday...

imagine you, your wife and your girlfriend have a 100% of a currency. how valuable is it? not very. cause no one else has it.
now imagine everyone in your whole town has this currency and you, your wife and your gf have a 2% stake of the currency.

the more spread out it is, the better.

with adoption I assumed he meant shops/merchants. of course spread is part of that. but eac could thrive even without any merchants, as long as people expect that tomorrow a merchant will start accepting it and thus accept it among themselves for trivial things like tips or micropayments.
that is what happened to bitcoin.

[placebo]

Stop complaining and start helping!  PM me for details.

+9999999999999999

We are in a bear market, look at a lot of the coins!!! They are all going down, maybe EAC a little faster then other coins, but still... stop complaining and maybe start to think, dammit, 1 month ago there was a coin called DOGE and it was crashing and crashing it even hit 25 sats, and suddenly we were at 270 sats. Now this day is here again, pffff, dammit EAC is moving lower and lower, WTF, only 12, pffff. Do the same what you would do with other coins, just buy those cheap coins, and be patient, as it will move higher one day, anyway.

[hashmen]

Stop complaining and start helping!  PM me for details.

+9999999999999999

We are in a bear market, look at a lot of the coins!!! They are all going down, maybe EAC a little faster then other coins, but still... stop complaining and maybe start to think, dammit, 1 month ago there was a coin called DOGE and it was crashing and crashing it even hit 25 sats, and suddenly we were at 270 sats. Now this day is here again, pffff, dammit EAC is moving lower and lower, WTF, only 12, pffff. Do the same what you would do with other coins, just buy those cheap coins, and be patient, as it will move higher one day, anyway.

yeah look at 100 of other fail crap coins who NEVER came back higher  
starting to feel this is no exception.
also you can't really compare this eac to something like doge

[testbitcoiner]

Ok, you've given a cogent, if heated, argument. You have yet to make one reason why ADDING A SECOND AND INCREASING level of inflation (yes, it is. Yes, I understand economics better than most. Yes, Keynes was an idiot at everything but gathering unwarranted power.) will increase adoption, but targeting merchants, attempting to get real world exchanges and stores, selling silver, and advertising WON'T.

First, let me dispense with YOUR fallacy. Proof of Stake is INHERENTLY inflationary. It adds coins as a secondary means to mining, which is in fact adding to the increase in the supply. Unlike mining, it expends no energy, no effort, and has no return OTHER than increasing a wallet.

let me cut you off here since you're just repeating the same nonsense.

savings are not responsible for inflation.
inflation is introduced to PREVENT people from saving.

interest does not cause inflation. because it keeps the stake someone has in the economy. his "slice" of the pie stays exactly the same.
inflation is introduced by lowering INTEREST RATES. GET IT?

keynes was very much opposed to savings but FOR inflation. if it is the same thing, then you  have either made a world shattering breakthrough in economic understanding, or you do not know what you are talking about.

interest and saving is diametrically opposite to inflation and no interest on savings.

Keynes is about redistributing wealth. money moves through destruction of e.g. a broken window pane. the window owner loses wealth. he has to pay for a window. the windowmaker gets his money/wealth.

SAVINGS AND INTEREST KEEP WEALTH IN THE SAME PLACE

I have utter respect for people who know their shortcomings and stay silent on issues they do not grasp.
it shows understanding of one's own abilities, which might lie in other areas.

but people who clearly do not even grasp the BASIC principles of the economic theories involved and in real world application of these theories and make page long posts repeating the same bs over and over, post after post, should look for a friendly neighborhood lobotomist
 

[placebo]

Stop complaining and start helping!  PM me for details.

+9999999999999999

We are in a bear market, look at a lot of the coins!!! They are all going down, maybe EAC a little faster then other coins, but still... stop complaining and maybe start to think, dammit, 1 month ago there was a coin called DOGE and it was crashing and crashing it even hit 25 sats, and suddenly we were at 270 sats. Now this day is here again, pffff, dammit EAC is moving lower and lower, WTF, only 12, pffff. Do the same what you would do with other coins, just buy those cheap coins, and be patient, as it will move higher one day, anyway.

yeah look at 100 of other fail crap coins who NEVER came back higher  
starting to feel this is no exception.
also you can't really compare this eac to something like doge

We are in a bear market, all coins are almost at record lows...Let me state differently, when you were mining all day and your electricity cost was $100 and you didn't sold anything, and now when you did your calculation you notice that when you sell it all that you will only have $40 so in fact, you mine with a lose of $60, what do you do? Take the hit and say ok, lost $60 next time better, or wait, and wait, maybe weeks, months, maybe years, and suddenly EAC is not trading at 10 sats anymore but at 100sats, and don't see that it is not true. Check last year, altcoins had a nice pump in the summer and then dropped several months and suddenly in November almost ALL coins jumped 1000% and more higher.

1. Hold and wait a long time
2. Sell and move father

That are the two options.

[testbitcoiner]

I should charge money for these economics lessons....

I just have to keep out all the personal insults...

[Anubite]

I should charge money for these economics lessons....

I just have to keep out all the personal insults...

+1

[placebo]

And what if ... we try to get in news with helping the Crimea Tatars?

I'm trying to get a few coin owers, that want to support the Crimea Tatars project, now the plan is very easy.

1. Deposit coin in a donation address
2. I will visit Crimea (most likely mid April - and using my own money for plane ticket) and check the options where people can use our coin.
3. Depending on the donation amount i will visit x number of parents that gave birth of a little child. Give a amount of money (first try to ask them to create a wallet, but some people don't have a pc, so then i will just buy those coins personally using the cryptsy price and pay them in hrivnas.


Trying to achieve:

1. Give all children a donation
2. Get in the news papers
3. Having a few new businesses that want to use the coin.

[Biomech]

Some good discussion taking place now.

PoS is hated by big miners because they wont be able to mine anymore. Honestly, I wouldn't mind solely PoS at this point, or at very least the PoW reward being reduced to 1/16th + marginal PoS. There is enough to hold and to trade. You can also have a coin cap with PoS as well, doesn't have to be indefinite.

BTW, what is wrong with holding? Doesn't everyone hold some if they can? Why do banks exist? CDs? Why do I have a savings account? Because we don't spend all our money when we earn it. Holding = faith in the crypto world. There is no reason to have a wallet with EAC over BTC. 0.

There is nothing intrinsically wrong with holding, but it's a zero sum game. POS takes that dynamic away, and removes incentive to put your money to work. The only conceptual difference between POS and fractional reserve is the issuing authority is different.

Technically, they are much different, and I have heard now from about a dozen people with far more experience than I that the technical problems are many, and dangerous, even if you leave out the economic arguments.

Bank accounts are NOT holding your money, even though that's the (now) common perception. They lend it out at interest. On checking accounts, it's only for quick transactions, or they have it covered by incoming payments (in theory. In practice they've been using fractional reserves since the mid '30s). C.D.'s and similar instruments are used for parts of medium to long term loans, which always have a higher amount of interest than what the depositor is paid. Thus you are loaning the money to the bank to invest on your behalf, rather than doing it yourself. It's both risk mitigation and hiring a middleman.

That in itself is not a problem, and could easily be done in the world of Crypto. It does require a level of transparency and trust above and beyond the coin, but so does Gold, which is where such things started. Bankiing isn't evil in itself, but central banking where they issue the "money" has become an impossible nightmare. I wish to avoid repeating the mistakes of the past, which is why I'm opposed to POS.

[24Kilo]

This a direct response to 'testbitcoiner'...

It seems that you are aiming a lot of your discussion at me... so let's clarify a few things...

I am a miner... that is what I do best... because I do not have the skills to code web-sites, marketplaces, coins and etc... I am learning as much as I can as fast as I can... but since I am an old guy that is a farmer... computers are a very steep learning curve... and crypto is another whole dimension. But one thing I have learned in life is that I do not need to know everything, just know the right people who do have the knowledge and skills I do not have. So in my crypto-currency journey I have been very fortunate to be invited and involved in some very skilled and talented teams because the one thing I bring with me is lots of hashpower. So when a piece of code or script needs to be stress tested... I can provide the blunt force needed to do so. I wish I knew how to code a coin, set-up a pool, develop an Android wallet, compile Linux mining and wallet software, etc and etc... but I can't... so by acknowledging my weaknesses and playing my strengths... I have been able to become a valuable contributor to the various coin and dev teams.

So you know... at the present time... I can mint about 1.5M EAC in 24hrs... of the millions of EAC that I have mined... I believe I have sold less then 100k... I am still holding most of my coins and what coins I have been selling have been going to atxSilver in exchange for silver. I also have bought about 1BTC of coins in the past 4 weeks as well. So while I am miner... I am not dumping EAC, or even selling that much EAC.

As for my dislike for POS, it has nothing to do with my ability or inability to mine the coins, it has to with the fact that the blockchains are not secure and can exploited. This affects every user. I have been involved with TAG since inception. TAG is in far worse shape than EAC, yes... the price is higher, but that is because TagBond, the company that launched TAG is buying up all the coins for use in their business, without the $500,000USD committed by Tagbond to support TAG by buying all the coins, TAG would be dead. And TAG is dead from a community stand point, the POS part of the code is so full of holes and exploits that miners are not willing to commit any amount of hash-rate to it. The difficulty is a false high because of the coin algo, the real network hash-rate is not much more than EAC at the moment. The team that I am part of has been involved with TAG at a coding level, testing and working on fixes for the coin. The code such a complete disaster, that dev team and Tagbond are seriously considering another hard-fork to completely remove the POS from the code, changing the coin to a pure POW, because end users are not willing to adopt the coin because of security issues. And this very exploit has cost our team around $1000USD in real money to honour coins mined and confirmed and then orphaned days after on the TAG pools we as a team run, both publicly and privately.

In practice, if a block can be orphaned at 500 or more confirms(which is over 2 days), sure the miner loses his coins, but that is not big issue, that means that every transaction included in that block is now null and void.

So if you pay for coffee with 100EAC today, the cafe hands you goods that of real value, the coffee, in exchange for crypto-coins after the transaction has been validated and confirmed by the blockchain. You walk away with a coffee and the cafe owner has 100EAC in his wallet. If the blockchain is compromised and the block that includes that transaction is orphaned, then those 100EAC are erased from the cafe owners wallet. So you got your coffee and the cafe owner has nothing. This is why I am opposed to POS, because it is far to easy to exploit this vulnerability.

And every POS coin has this vulnerability, as of yet there is no real fix. Everyone is keeping very quiet about it in hopes that a fix can be found before a massive attack is launched on POS coins. The reason TAG was attacked is because TAG was used by BCX to settle a disputed loan to Big Vern of Cryptsy. BCX used the exploit to mine a huge amount of TAG, send it to Crytpsy and exchanged it for BTC... then exploited the blockchain and Cryptsy suddenly found they had an empty TAG wallet with no recourse to get the BTC back.

I have no issues with the concept of POS, in fact, as a miner, it is a great idea. I mine a coin at launch, then turn my miners off, sell them, stop needing to pay the huge power bills and get coins for free... sounds like a plan I can live with!!!

I against POS because of the vulnerabilities and security issues, and until those are fixed, no POS coin is going to have a wide adoption. I hope there is a fix, because I like the idea that I can make 10% free coins on my millions of EAC for no cost at all. Heck, I can sell at 1 satoshi and still make a profit.

The greatest strength of EAC has been and always will be the strength of the code of the coin. Until there is stronger and better code available, then I am completely opposed to any changes to EAC coin code.

If there any changes to the coin code and EAC forks, EAC is likely to never recover.

LEAVE THE CODE ALONE!!!

[cryptozark]

And when have we said we are not touching the code?

http://earthcoin.eu/?p=293
https://bitcointalk.org/index.php?topic=487624.msg5373252#msg5373252
https://earthcointalk.org/forums/topic/seeking-coin-wallet-and-service-developers-bounties-available-escrow-needed/
https://cryptocointalk.com/topic/6629-seeking-coin-wallet-and-service-developers-healthy-bounties-escrow-needed/

The only thing we've changed our official position on was ASIC resistance (since ASICs are an evolutionary step forward).

and YES.  We are developing, but only one person reached out to us to help develop the next version of Earthcoin (Linki) and he is a good programmer but new to crypto, so he is learning as he goes.  If you want to see dev happen faster, please feel free to make an introduction to some other experienced dev who is willing to put aside work on their own coin to work on Earthcoin.  We would love that intro and have a bounty ready for them.

Normally, I try to not be involved in day to day workings in the crypto community outside of mining and financial support.
That said, I know of a person here in St. Louis, MO (USA) that has (and still working on) developed a coin with hopes of mass adoption in the local business arena. He is a bit reclusive, but I was promised a meeting with him to see his setup (as I am setting up my own mining farm). I do not know if he would have any interest in taking on this kind of project, but I'd be willing to ask if the EAC community/devs would like for me to do so.

We will accept all useful help.  Make it happen!

[Biomech]

Ok, you've given a cogent, if heated, argument. You have yet to make one reason why ADDING A SECOND AND INCREASING level of inflation (yes, it is. Yes, I understand economics better than most. Yes, Keynes was an idiot at everything but gathering unwarranted power.) will increase adoption, but targeting merchants, attempting to get real world exchanges and stores, selling silver, and advertising WON'T.

First, let me dispense with YOUR fallacy. Proof of Stake is INHERENTLY inflationary. It adds coins as a secondary means to mining, which is in fact adding to the increase in the supply. Unlike mining, it expends no energy, no effort, and has no return OTHER than increasing a wallet.

let me cut you off here since you're just repeating the same nonsense.

savings are not responsible for inflation.
inflation is introduced to PREVENT people from saving.

interest does not cause inflation. because it keeps the stake someone has in the economy. his "slice" of the pie stays exactly the same.
inflation is introduced by lowering INTEREST RATES. GET IT?

*sigh* I shouldn't even address this, but I shall. The logical fallacy your trying to pull off is called a stawman argument, wherein you try to get your opponent to argue a position they never took. When done cleverly, it can derail and discredit an argument. Yours wasn't all that clever.

NEVER ONCE did I state that savings is equal to inflation. Nor did I argue that interest was inflation. Nor will I. What I stated, specifically, is that THIS mechanism, Proof of Stake is inflationary. This should be obvious, but apparently it isn't. So I shall elucidate.

In normal savings, done via a bank as opposed to simple hoarding, you deposit funds. The bank then uses those funds in investments, returning the funds and interest derived from the fees (interest) that they charged for the use of the funds. A partnership for investment with minimal effort on the part of the depositor.

Proof of Stake, by stark contrast, rewards the hoarder for doing NOTHING with their money, and does indeed create money without investment or work. Thus it is inflationary by definition.

Inflation is indeed intended to stop savings. Keynes thought (using the word loosely) that money should not ever be kept aside, that even the "tradtional" savings I listed above would slow or stop an economy. He dismissed Menger and Von Mises not on merit, but because they advised caution and prudence. Two things he was openly opposed to.

Again, there are two forms of inflation. One is inherent in any sort of commodity money, and that is the production of the asset. This form tends to be self correcting as the asset becomes rarer. This is the model that the crytpocurrency movement initially modeled, and most successful coins have followed. It is inflationary at the outset, and diminishes over time. This makes it deflationary in the long term, and because of the scarcity created,it becomes more valuable per unit. This is not true in a vacuum, of course, as the asset has to be USED.

Yes, it can be saved or hoarded (they aren't synonomous, but they are related). This is not in itself uneconomic from the point of view of an individual actor. If everyone hoards and no one spends, then the asset becomes devalued and useless. This never actually happens for very long, but it can happen when times are tough otherwise, because people want a hedge. As things improve or the stockpiles increase, people again start investing.

The second form of inflation, the pernicious one, is "printing money", or legal currency, thus diluting the asset or making it unattractive in the short term. See Gresham's Law.

Here's where interest rates come in. In a centrally managed system, they are manipulated, as you noted, to discourage saving and encourage malinvestment. This creates the boom/bust cycle. In a rational market, where risks are not absorbed by governments and central banks, interest tends to be high for risky investments. This makes the actors seeking loans think long and hard about repayment, and lowers the amount of malinvestment. There will always be idiots, but high interest rates discourage them. Artificially low interest rates, on the other hand, encourage investment in dubious prospects, and thus create bubbles. Sooner or later, bubbles pop. See 2008 as a good example. Or 1921. Or 1928. Or 1936. I could go on. Fiat currency is particularly vulnerable to this because of it's nature and because of fractional reserve banking, in which the debits are counted as assets to "create" money. Much like Proof of Stake.

keynes was very much opposed to savings but FOR inflation. if it is the same thing, then you  have either made a world shattering breakthrough in economic understanding, or you do not know what you are talking about.

interest and saving is diametrically opposite to inflation and no interest on savings.

Keynes is about redistributing wealth. [/color]money moves through destruction of e.g. a broken window pane. the window owner loses wealth. he has to pay for a window. the windowmaker gets his money/wealth.

SAVINGS AND INTEREST KEEP WEALTH IN THE SAME PLACE

I have utter respect for people who know their shortcomings and stay silent on issues they do not grasp.
it shows understanding of one's own abilities, which might lie in other areas.

but people who clearly do not even grasp the BASIC principles of the economic theories involved and in real world application of these theories and make page long posts repeating the same bs over and over, post after post, should look for a friendly neighborhood lobotomist
 

As shown above, my grasp is far beyond basic. Both in economics and debate. Some references for you:

logical fallacies and the art of debate

Economics in one lesson

Human Action

[ATXsilver]

After reviewing the facts, and listening to all sides of the argument, I have to conclude that I will throw in my vote as against changing to POS at this time. To me, the risks do not justify the benefits. I plainly do not see how changing to POS increases the LONG-TERM viability of Earthcoin as an elite Cryptocurrency. There are clearly some folks here smarter than me in economics, mining, etc, and I think the debate that has been had the past few days is indeed healthy and positive for the Earthcoin community. Hard fought debates about the future of the coin shows the passion underlying the revolutionary belief in the possibilities to change the world that Earthcoin represents.

Particularly impressed with the dialogue from BioMech & 24Kilo. Both are awesome members of the the community and are truly proving their value with the dissemination of valuable information to enlighten me and others.

TestBitCoiner had valid points as well and I can see his argument. I would say to ease up on the personal attacks, and focus on the argument, not the individual. Always makes me think one is defensive or knows they are arguing from a point of weakness when they start the personal attacks. POS and other innovations yet to be discovered, can still be pondered and decided upon going forward. This movement is evolving and as an 'open' forum anything can be discussed and decided upon in a civilized manner.

One thing I have been pondering doing myself is offering an EarthCoin shareholder rewards program. I am still brainstorming but any feedback y'all want to provide is certainly appreciated. What I am considering would be similar to a dividend paying stock, rewarding long-term Earthcoin investors by providing a monthly 'EarthSilver Dividend' based on the # of coins you hold in your personal wallet on a certain date/ time period.

"ATX Silver Announces EarthCoin Dividend Plan - Disbursing Precious Metals 'Dividends' On a Monthly Basis'

1 Unit of Silver 'Dividend' per 20 Million EarthCoins held - Decided Monthly on the 25th

Have holders send me a screen shot of the coins in their wallet, as well as the unique wallet address so I could double check the balance the day after the ex-dividend date(IE the 25th), when packaging up the dividends.

This would indeed incentivize both miners & investors to 'hold' their coins, and I feel basically solves the POS solution without having to open up the 'code' to exploits and weaknesses.

Plus, as word spreads about my revolutionary idea, people would flee from 'ponzi scheme' coins and recognize real value when they see it.

Owning a crpyto that pays you a monthly 'physical silver dividend' certainly offers a certain amount of downside protection. As the price of the crypto goes down, the # of 'silver dividends' you would obtain by purchasing more shares would increase, therefore effectively incentivizing people to BUY BUY BUY a crypto that has TRUE VALUE.

Of course starting off as I would be bootstrapping this by myself, the dividends would not be extravagant, but even $10-$20 worth of silver monthly for your 20-30 million Earthcoins would certainly be much more attractive than what 99% of what other coins offer IMO.

Alternatively, we could talk the DEV team/ remaining holders of the Premine/ Wealthy Earthcoin holders into offering this same program but in EarthCoins. IE take 50 million of the premine and make an announcement that you will pay out 5,000 EAC 'rewards dividends' based on the amount of shares individual owners can prove they own at a certain point in time. You would probably need a relatively high starting point to 'earn' the rewards dividends, maybe 5-10 million minimum EarthCoins to qualify for the initial 5,000 EAC Dividend, with 5,000 EAC additional for each additional 5-10 million Earthcoins held. Maybe a max of 25,000 EAC per user per month.

Just thoughts that I think people would get really excited about if announced. Maybe even create an announcement thread when finalized to blast this out to the whole ALT COIN community and recruit new blood to buy into this 'Shareholder friendly' initiative, that I personally feel is more beneficial a choice than what POS represents.

Ideas? Thoughts? Suggestions? Just brainstorming but I think I may be on to something.





 

[24Kilo]

So let me run the numbers...

It would take 2 BTC... about $1200USD... to buy 20M EAC at today's price of 10... and I get say a Walking Liberty half-dollar(my preference and about $10 worth of Ag) each month for my $1200/20M EAC... so 12 months times 10 Walking Liberties is 12 half dollars worth $10 each... if my maths are correct... that is $120... and that is 10% return on my $1200 investment?

Where do I sign up?

[Legionnairez]

but people who.... and make page long posts repeating the same bs over and over, post after post, should look for a friendly neighborhood lobotomist
 

Just a sidenote here. Have a look at your posts in this thread. Then Have a look at the above. Do you see any similarities?

Don't get me wrong. It's good you question things, but it's quite obvious to me you just want to alter the value, which I'm fine with.

People, question the motives of all the posters. Both positive and negative - Some try to alter people to buy, some alter to sell. They wouldn't keep spending hours and hours writing in this thread over and over again if they wouldn't have some form of interest to alter the value of this coin.

Well you don't have to guess my motives - I want EAC to rise and get adopted.
 I'm still working on the explore the earth-project, I've gotten so much extra work shifts lately that I don't have enough energy to set things up. But don't worry people, the idea has matured in the meantime and I actually have some interesting ideas which just might help us get real business adobtion for EAC.

[porcupine87]

Why should I use EAC when I can use innovative coins like Blackcoin or Darkcoin?

EAC is far ahead of those coins in terms of usability and adoption, so far.

hm I don't know. the market cap decreases steady 5% now every day for 50 days. Per coin the decrease is even more. So time to buy? ^^

the main advantage of eac is not really adoption, but spread of the currency.

What do you mean by that?

this however is threatened by the low price. people might just cut their losses and sell, thus leading to a concentration of eac into few hands.

not everyone can afford, or wants to deal with a low value coin in his portfolio.

I did. Have sold my last EAC yesterday...

imagine you, your wife and your girlfriend have a 100% of a currency. how valuable is it? not very. cause no one else has it.
now imagine everyone in your whole town has this currency and you, your wife and your gf have a 2% stake of the currency.

the more spread out it is, the better.

with adoption I assumed he meant shops/merchants. of course spread is part of that. but eac could thrive even without any merchants, as long as people expect that tomorrow a merchant will start accepting it and thus accept it among themselves for trivial things like tips or micropayments.
that is what happened to bitcoin.

when we talk about a cryptocurrency, ok. There are a few flaws. First, having some of the coin doesn't mean, that the person accepts them, too. I had 50k EAC left but would I accept EAC for my work? Maybe, but I would have converted it instantly into another currency. Because I see better opportunities and let's face it. Even $ cash would be better. Second, maybe except of Bitcoin you can't buy things with cryptocurrencies. All their current value depends on the future. The speculation you can buy things in the future or it is a good store of value. Or a mean of transaction (e.g. cheap, over borders, darksend of Darkcoin). Third, you cannot know that Earthcoin is owned by relatively many individuals.
I would argue that Bitcoin is by far the most euqally distributed currency. Many individuals know of this coin, many big addresses are services with many individual holders. But the others?

But I don't really know. I always thought that my last 50k EAC aren't worth much so I easily could hold it. But I finally didn't

[testbitcoiner]

After reviewing the facts,

Particularly impressed with the dialogue from BioMech & 24Kilo. Both are awesome members of the the community and are truly proving their value with the dissemination of valuable information to enlighten me and others.


Ideas? Thoughts? Suggestions? Just brainstorming but I think I may be on to something.

24Kilo is a miner. that's his perspective. he will always vote against a system he can not profit from.

biomech is employed by the devs, who have a hard time with criticism, and would not employ him if he was not a yes-man. he clearly has no idea about the areas he is discussing.

it does and should not matter how "awesome" someone is as a member of the community. it should matter if someone is right.

they are not providing any value besides speaking their mind without actual facts or arguments supporting their positions.

answer me this: how is it useful for the long term survival of eac, when we quadruple the eac supply this year, and still increase it dramatically next year.

eac is not alone. a coin needs a critical number of holders and users to survive.

what none of you seem to understand that survival means to outlast the comparable competition.

devaluing the coin now further is not helpful. it kills it.

price IS a factor in people's willingness to put up with the constant hickups of eac.

it is foolish to the extreme to keep outright dismissing price level as a non-factor when it is 99% of what drives the market.

all the happy feeling sunshine hold hands crap is for people who don't really invest in the coin or do not treat it in business terms.

everyone who is actually fond of accepting eac as a coin personally, or in a shop will react allergically to constant drops in price.

when even instant exchange from eac to BTC could yield a 20% loss after the merchant has accepted eac for goods, he will not longer be willing to accept eac at some point.

we are losing the wide range of holders and users that make the coin.

I can not understand why you let your sympathies towards certain people cloud your judgement so much.
look around. a miner and an employee discuss things they both have no stake in.

the miner can mine something else tomorrow. the employee gets paid.

what you should worry about is the absence of other people that support this current regime. there are none, except

devs,

happy feeling sunshine people who oppose profit on a moral level (steve) and are completely worthless to the coin on a business level, a miner who wants to keep mining eac, which is totally besides the point,

and a steady stream of people saying: ok this is enough, I'm out.

what is left are true believers. you can not trust the judgement of those either. they are always in high spirits, utter no criticism and glow with adoration for the amateurs in charge.
you are pretty close to becoming one of them.

whatever you may think of me, I hope you realize that I am smart enough to actually understand the issues and I'm here only for a public service to a coin, once dear to my heart.

there are no 2 sides here. either I am wrong or I am right.
either increasing the supply of eac 4 fold this year is good, or increasing supply by max 20% this year via interest is good.

make up your mind!

and all the bullshit about buggy code and POS being difficult is just a smokescreen for the fact that they, and I say it again: HAVE NO PROGRAMMER ON PAYROLL

and stop calling POS a new thing. it is NOT. and stop calling it problematic, when all the POS coins have a higher market cap than EAC and do much better than eac.

you increase supply anyway. the point is, do you want 400% of eac this year happening to a coin that is already at 10 sat? really?

long term survival is directly linked to price. di-re-ctly. the only people who do not worry about price are fanatics (true believers), miners who auto sell and the devs who are too insecure to accept failure to do necessary innovations.

everyone else, every merchant, every normal person, every crypto enthusiast, all those have to pay bills, and have 160 other coins to choose from.

yet all you are listening to is people you got to know and like. i.e. people who can stand posting here still.



how come in the real world currency value decline drove satoshi to build BTC and here it suddenly is immaterial?

you allow 400% inflation this year yet worry about 20% supply increase through interest, which idiotic no-nothings confuse with inflation and vehemently oppose it, while ignoring the gigantic 400% gorilla of POW inflation in the room

[SteveoMB]

well testbitmoron then let me give you an honest -fuck you- for all the trouble you made.

earthcoin was made out of moral. you corrupted piece of dirt wont understand because you are flying above all human beeings here.

you must have (and I'm absolutely convinced) an ugly life, nowhere to go, noone listens to your opinion, that you keep on insulting everone here, without a reason, without hesitation. In real life, you are nothing.

You get, for the second and last time my ignore and my worst hopes of getting in trouble just because your karma is fucked up in a way I had never imagined.

goodbye testbitmoron