[ANN] [ETC] Ethercoin | Redeemable 1:1 for ethers | Official Thread

[ethercoin.cc]

UPDATE: Redemption Requests can now be submitted on ethercoin.cc   .

Ethercoin (ETC) PoS coin
Redeemable 1:1 for ethers



Ethercoin is a proof-of-stake blockchain with a fixed supply of coins provably backed by REAL ethers purchased from the Ethereum sale (see proof of reserves). Each Ethercoin is worth 1 ether. Ethercoin was created so that people who missed out on the official etherum sale will be able to buy ethers.
Please note that Ethercoin is not affiliated with the official ethereum team and any use of content relating to ethereum.org is for informational purposes only.


Links:

Official Website: http://ethercoin.cc
Block Explorer: http://explorer.ethercoin.cc/chain/Ethercoin

Proof that we hold 1,000,000 Ether in Reserves: http://explorer.ethercoin.cc/static/reserves.html


Specs:

Total coins: 1,000,000
100% Proof of Stake
0% Inflation
Block time: 60 seconds

Redemption Ratio: 1:1 for ethers

Wallets:
Mac OSX v1.1 http://explorer.ethercoin.cc/static/ethercoin-v1.1-osx.zip
Windows v1.1 http://explorer.ethercoin.cc/static/ethercoin-v1.1-win.zip
Ubuntu Linux v1.1 http://explorer.ethercoin.cc/static/ethercoin-v1.1-ubuntu.zip
Github Source http://github.com/ethercoin/ethercoin


We are giving away 25 ETC to the first 40 35 25 20 10 people to PM us with an Ethercoin address
(don't post your address in the thread due to anti-spam rules).  
The giveaway has now ended.


Sale:

Please PM us if you would like to buy Ethercoins.


Escrow:

If you wish to use an escrow service for your purchase, please contact your escrow provider of choice, and then PM us to arrange it. The escrow provider must hold the BTC and ETC, and only forward the BTC to us when the ETC have been converted into ethers. The ETC must stay in the escrow providers' address until the genesis block and cannot be moved before then.

We are currently using bitrated.com for all escrow purchases. There is a 5BTC minimum purchase required for escrow..

Redemption info:

Ethercoins will be redeemable for real ethers as soon as the Ethereum blockchain launches (Q1 2015 estimated),  A Redemption address will be provided by our website.  Holders will send Ethercoins to the redemption address, and they will receive Ethers in return.



Terms:

Ethercoin.cc is not responsible for any holders' loss or destruction of their ethercoins (i.e. lost wallet passwords, lost private keys, etc) or any technical error they may experience. All ethercoin holders should comply with the terms and agreements of the official ethereum website and their product agreement.

In the event of a hard-fork or technical failure related to the PoS blockchain, ethercoin.cc will remedy the situation, and honor the ethercoin balances as listed by the last healthy block. Users should recognize that cryptocurrency software is highly experimental. By using our software you agree not to hold Ethercoin.cc responsible or accountable for any damages, losses, or misfortunes that you may experience by using ethercoin; if you do not agree to this then do not use our software.

IMPORTANT: This is a self-moderated thread.  We will not moderate any legitimate discussion or concerns, but trolling and spam posts will be removed.  Posts that use large fonts and colors will be removed.  Please stick to standard forum font only.  

FAQ:

Q: What is the tx fee to send ethercoins?
A: The tx fee to send ethercoins is 0.1 ETC.  (An equivelant of about $0.03 at the time of writing.)  The fee will be adjusted accordingly as required.


Q: How do I know you'll actually redeem my coins? (i.e. Is this a scam?)
A: We are large ether holders (aside from what we are offering for ethercoin) and want to help stabilize the ether market and provide price discovery for the benefit of all ether holders. We are strong believers in the Ethereum vision and hope to see it succeed. Failing to redeem would not be in our interest as it would hurt the Ethereum economy which we are heavily invested in.  If you still don't feel comfortable with purchasing Ethercoins directly from us, you can use escrow.

Q: Will you accept an Escrow purchase?
Yes. We are currently using bitrated.com for all Escrow purchases.  


Q: I lost my ethercoin password, or I forgot to backup my wallet and my laptop exploded, or my computer got hacked.
A: We can't help you.  Make sure you back up your wallets and remember your passwords.

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[V500]

how should a blockchain be running with no interest? Isn't even possible.

[ethercoin.cc]

how should a blockchain be running with no interest? Isn't even possible.

We have a set amount of 1 million coins that are backed by 1 million ethers.  The redemption ratio is 1:1. We cannot have any interest because that would affect the redemption ratio, which we want to keep at 1:1.  And yes, it is of course possible.

[V500]

how should a blockchain be running with no interest? Isn't even possible.

We have a set amount of 1 million coins that are backed by 1 million ethers.  The redemption ratio is 1:1. We cannot have any interest because that affect the redemption ratio, which we want to keep at 1:1.  And yes, it is of course possible.

no interest = no incentive to stake = no nodes = no network

do i miss something?

[rigdeer]

how should a blockchain be running with no interest? Isn't even possible.

We have a set amount of 1 million coins that are backed by 1 million ethers.  The redemption ratio is 1:1. We cannot have any interest because that affect the redemption ratio, which we want to keep at 1:1.  And yes, it is of course possible.

no interest = no incentive to stake = no nodes = no network

do i miss something?

Just wait for more information from the dev.

[ethercoin.cc]

no interest = no incentive to stake = no nodes = no network

do i miss something?

Great question.  We are running nodes, and will maintain a majority of the coins on nodes we control.

[adoalli]

Give me a reason to choose this

[ethercoin.cc]

Give me a reason to choose this

We think that Ethereum is going to be an amazing technology.  If you missed the Ethereum sale and still want to buy ethers, this is how you can do it.

[karlb187]

good  luck with your coin 

[ethercoin.cc]

We are giving away 25 ETC to the first 40 people to PM us with an Ethercoin address.  Your account should have a minimum of 25 posts to qualify.

[majeis]

Is this some kind of elaborate method to offload existing shares of the Ethereum IPO at above sale price?

What's the point of this otherwise?

[ethercoin.cc]

The point of Ethercoin is to allow people who missed the Ethereum sale to buy ethers.

(By the way, Ethereum technically did not have an IPO, it did a product sale.)

[majeis]

The point of Ethercoin is to allow people who missed the Ethereum sale to buy ethers.

(By the way, Ethereum technically did not have an IPO, it did a product sale.)

It's just a marketing buzzword semantic difference, really, but you didn't answer my question fully.

[gelovy]

Good idea - love it!
Moment you will had Ethercoin to one of the biggest exchange (Bittrex, Poloniex or Mintpal) i will invest some BTC.

[Vandalay23]

Good idea - love it!
Moment you will had Ethercoin to one of the biggest exchange (Bittrex, Poloniex or Mintpal) i will invest some BTC.

Meanwhile, I offer escrow service.

PM me if interested.

[iluvcrypto]

I have send you a pm now. Thanks

P.s- can't seem to get the Mac version working so i have used the Windows wallet.

[askcoin2]

What is algo?

[ethercoin.cc]

I have send you a pm now. Thanks

P.s- can't seem to get the Mac version working so i have used the Windows wallet.

The Mac client works on all of our test systems. What version of OSX are you running? What problem is it? please PM us.

PS. Your coins were sent.

[Ancep]

I received my Ethercoin from the giveaway, thank you very much!

I'm a big supporter of the Ethereum project itself, so I'll definitely be keeping an eye on this coin. Best of luck with your launch!

[askcoin2]

Ok, wallet works fine.
I hope to get 25 ETC.