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Confirmed.
Yes that is our entire point, to make GPU mining viable for the future.
To keep mining accessible and worthwhile to everyone.
In the future we will be able to if needed to update the miner and hardfork the coin to again make it unaccessible for ASIC`s and FPGA`s.
Sounds good! But... What are the advantages of AEC over, for example, vert?! Just the "direct" conversion to fiat ( what is arguably for now, as nobody knows how does it work and does it work at all?! ) And why did you name it "Alter ego"? Quite a strange name for a currency, isn't it?
The term Alter Ego was choosen because we felt hat the coin have 2 sides, 1 crypto and 1 FIAT.
Conversions will not be exactly "direct", the exchange will require in the range of 20-30 confirmations (exact amount not set yet) and your bank transfer will be send the next working day.
For a US customer this will equal about 4-5 working days before the money reach your bank account.
The advantages AEC will share with f:ex Vert or Metis is:
- Less heat then scrypt
- Less power consumption then scrypt
- ASIC/FPGA safe (not certain about Metiscoin on that point sorry)
Advantages that AEC have over other coins:
- First point is of course the AEC to FIAT exchange and vice versa.
- If you run a business it is easy and safe for you to accept AEC and have continual payouts (working days) to your business bank account.
Separate business registration will most likely be available on the exchange already upon launch.
- AEC can also be used as payment or for transactions. Sums below the KYC amount can be sent from 1 person with another w.o a registration process, the two might be in different countrys or even continents.
- The very likely possibility to in a not to distant future exchange AEC against precious metals.
- It is not very likely that the need for crypto>FIAT conversions will vanish over night, AEC will most likely be a attractive coin to mine and hold, not a coin to mine and dump as soon as possible.
- It have a clear purpose and a devoted team behind it risking pretty much everything they own into its success.
- It is not a random litecoin clone with some slightly edited put n paste code with a fancy logo.
