[PRE-ANN] - eCoin [ECN] - The new way!

[luckygenough56]

RESERVED

[StefanThePro]

looking forward to it

[Graphene]

OK. Sign me up for beta testing.

[imperatron]

OK. Sign me up for beta testing.

Me too!

[GBattaglia]

Interested in this.  Can we get some details?   

[deltree]

Excuse the noobism guys but what does Cover mean?

[mac-coin]

I'll be watching this, sounds interesting 

[LifeOfDoge]

PotatoCoin has to be cover by potatos but what will cover this ?

[sighle]

For those of you asking, "cover" in the context of currency would typically mean that it is backed by some kind of commodity.

The US dollar is a cover for their stock of gold. This means that theoretically any time you want to exchange your USD for gold you can.

I'm not sure how these guys plan to cover their crypto(or what it might cover) but it seems far-fetched to me.

It also means that there are 2 possible scenarios;

#1(most likely) - It is a Proof of Stake currency that cannot be mined

#2 - It is a Proof of Work currency that CAN be mined but would be subject to inflation depending on how/what the currency covers.

I don't see this coin happening unless it's formally backed and developed by a government. In that case there would certainly not be any mining but would mean that a country is switching their currency to electronic instead of physical and phasing out cash.

Please take this with a grain of salt, I am making a lot of assumptions, I am not an econ major, I am a high school dropout.

[endlessskill]

Reserved

[digicoin]

What?

[bryan2402]

reserved

[wizzardTim]

Interested!

[Zombie123]

ok lets see

[imperatron]

Any news?

[DaBro]

reserved

[wiseye]

Reserved.

[deltree]

For those of you asking, "cover" in the context of currency would typically mean that it is backed by some kind of commodity.

The US dollar is a cover for their stock of gold. This means that theoretically any time you want to exchange your USD for gold you can.

I'm not sure how these guys plan to cover their crypto(or what it might cover) but it seems far-fetched to me.

It also means that there are 2 possible scenarios;

#1(most likely) - It is a Proof of Stake currency that cannot be mined

#2 - It is a Proof of Work currency that CAN be mined but would be subject to inflation depending on how/what the currency covers.

I don't see this coin happening unless it's formally backed and developed by a government. In that case there would certainly not be any mining but would mean that a country is switching their currency to electronic instead of physical and phasing out cash.

Please take this with a grain of salt, I am making a lot of assumptions, I am not an econ major, I am a high school dropout.

Imagine a venture capital firm invests in the founder or this coin a commodity is purchased against the total amount of this coin to be ever mined at a preset rate. Theoretically it would still be capable of being mined. I think it could be done without a government!

[VariableDiff]

Interesting. Is it scrypt or sha coin?

[DaElbing]

omg..