Report To The EMC2 CommunityProgress 2 weeks in, EMC2 is moving solidly in the right direction:
EMC2 Is Getting PromotedThanks to the generosity of Praxiscat (administrator emerita) and Sashorx (CTO of TitanBIT.net) the Poloniex Giveaway fundraiser was a success,
the campaign raised a total of 100,000. EMC2. The 50,000 EMC2 balance necessary to meet the minimum requirement has been contributed from
EMC2 Trust Funds budgeted for that purpose.
This new administration's first official payment - 150,000 EMC2 to Poloniex, will be issued as 3 50,000 EMC2 payments (the Trust fund has a
maximum transaction payment limit). It should be noted that the functionality of the wallet did not, and does not, permit us to exercise an ideal
level of accountability and responsibility. We are unable to issue the self auditing payment (all out and back in), and we are unable to create
multi-sig from our side of the transaction.
The Poloniex Giveaway will start this week.
Everyone is encouraged to take part in, by taking part of, the giveaway.
Bits of Good News 1st escrow account - our first escrow account is now in place, we are working on adding others primarily because the Trust Fund account is so
difficult to manage. This account will likely be used to maintain the .5% part of the 2.5% mining tax. A different escrow accounts will be used
to hold funds between trading partners for private transactions.
Block Explorer is back - we contacted the site owner about:
https://altexplorer.net/chain/Einsteinium, at the time it was not generating updated data,
we are please to report that the app has been updated and is reporting fine. We are working on having the major typo corrected -- did you notice it?
We are still working on a way to track trust funds as you can see it is not reporting accurately:
https://altexplorer.net/address/EKnqTC9XEuucZEhD3miDGnbJxBptcxhByAthe file is too big for normal system searches which is also why it is so difficult to manage.
A New Exchange? - yes it is true, we added a new exchange to the list. Unlike our major exchanges, Saso Mezgeck, CTO of TitanBIT LTD (
www.titanbit.net)
invested in EMC2, and has sponsored our first promotion. We appreciate his engagement and hope good business could come from this. We're going to look
into opening an escrow account there, if so we will do a comprehensive analysis and review of the exchange.
Paper Wallet Generator - according to this video
https://www.youtube.com/watch?v=9eTkiGGzOME you can go to this site:
www.cryptolife.net/upwg to
generate paper wallets.
InvestmentWe are constantly putting measures in place to facilitate safer investing with EMC2, currently we have:
- market monitoring, we are constantly looking for significant indications that can adversely effect the coin or community;
- the valuation report, tells you specifically what EMC2 management believes about the value of EMC2 that very day, allowing you to make informed choices;
- the Guardians, a group of EMC2 holders who can be called on to buy EMC2 privately at a moment's notice when large volumes of EMC2 are offered up for sale.
This serves to blunt the effects of malicious dumps that often result in panic sell-offs.
Valuation We believe a well informed investor is the best hope for the financial security of the EMC2 community, and the coin itself.
Periodically, and at critical points, we will provide a brief assessment of what we individually feel EMC2 is worth at the time of the report.
Market indicators are pointing to this being a very active week for EMC2 as such we are providing this valuation report.
The question is:
"What is EMC2 worth Monday Sept. 15, 2014?":
Oldminer said: "I still consider EMC2 to be highly under-valued & oversold. In that regard, I still expect the
coin's value to increase dramatically in the near future. My current valuation for EMC2 is
200+ satoshis..."
Djnocide said: "the value should be around
100 satoshis, the community respond positively to
the actions taken by the board members. Everything is falling into place to put this coin back on its feet. it hold a greater value
but we need put everything in place for it to reach it."
Armis said: "in my opinion today EMC2 is worth
125 sat, additionally, because the market is eagerly
anticipating 150 sat I expect relatively high volume, regardless of price, all this week, perhaps the highest seen in over 100 days.
Although I'm encouraged by market indications, I don't believe the current market can support a value above 175 sat, I think if rates
soar above 175 sat the rebound (aka correction) will hurt some people for a little while."
Volunteers Needed We need volunteers for social media outreach, and researching. If you decide to do unsolicited projects of any kind please post what you
have done together with your EMC2 wallet address, we will be randomly selecting individuals for small remunerations.
