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

[semiel]

Impossible to be a scam since we're happy to use escrow.

It's worth pointing out that there is a common scam where people offer two services: one is trust-free and can't be a scam, and the other requires trust. They use the legitimacy of the first in order to convince people to use the second, and then run off with the second group's money.

I'm not saying that's what you're doing here, but it makes me nervous that you aren't defaulting to escrow in all cases.

[ethercoin.cc]

Yeah i got a few comments deleted too 
This thread stinks.

Please see our moderation policy on the 1st post.  We moderate trolling, spam, and 'scam11!1!' posts (especially since we have answered that concern in the FAQ)

[ethercoin.cc]

Impossible to be a scam since we're happy to use escrow.

It's worth pointing out that there is a common scam where people offer two services: one is trust-free and can't be a scam, and the other requires trust. They use the legitimacy of the first in order to convince people to use the second, and then run off with the second group's money.

I'm not saying that's what you're doing here, but it makes me nervous that you aren't defaulting to escrow in all cases.

Thanks for your input.  We would be happy to use escrow in all cases, but also saw lots of demand from people who wanted to move their coins around.  We do  address this concern in our FAQ for people who choose not to use escrow.

[ethercoin.cc]

Just curious ..  Would you mind showing your personal holdings on the ethercoin.cc website too.
The reason being that people would know that you indeed have an even larger reserve that you intend to keep and that your interest in the real ether coin is as much as anyone else who holds the ethercoin that you have  sold.

We won't be posting our personal holdings at this time. But we can consider it for the future.

[johny08]

Just curious ..  Would you mind showing your personal holdings on the ethercoin.cc website too.
The reason being that people would know that you indeed have an even larger reserve that you intend to keep and that your interest in the real ether coin is as much as anyone else who holds the ethercoin that you have  sold.

We won't be posting our personal holdings at this time. But we can consider it for the future.

That would shoot the price up .. Just Saying .

you pay now double to three times the price of initial price. And count the rist involved in this anonymous product you have to give trust into, so its beyond good and bad.

Just run away, the best you can do here.

[ethercoin.cc]

you pay now double to three times the price of initial price. And count the rist involved in this anonymous product you have to give trust into, so its beyond good and bad.

Just run away, the best you can do here.

Since they missed the original sale the price is higher.  When ethers start trading freely, the price will be higher still if there is lots of demand.

As for risk, we are happy to use escrow to deliver the ethers if you are worried about that.

[Digdaga]

Can someone post some nodes for .conf file, as i am getting zero connections to the network.

thanks,

[ethercoin.cc]

Can someone post some nodes for .conf file, as i am getting zero connections to the network.

thanks,

here are some peers currently connected:
80.187.102.103
137.135.60.162
66.172.12.110
66.172.27.37

[BitcoinNational]

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

really good question, question #1 on day 1

also what happens to this coin after redemption?

In theory a 0% pure stakes coin would be interesting to watch (maybe I don't want to redeem) especially if the redeemed lot gets burned.

[ethercoin.cc]

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

really good question, question #1 on day 1

also what happens to this coin after redemption?

In theory a 0% pure stakes coin would be interesting to watch (maybe I don't want to redeem) especially if the redeemed lot gets burned.

There will be a redemption period will be a finite amount of time.  Coins that aren't redeemed won't have much use afterwards.

[illdeletethis]

if ethereum, once released, continues the per unit price of ethercoin it would be the 4th largest coin market cap already, right behind litecoin

[stechkin88]

Can you place the dollar value on 1 ether after the Ethercoin exchange 1:1?
What is the incentive of holding ethers?
What will be the stake if any and how often it will be paid?
From the simple investment in the ethercoin, what can be expected in return after 1:1 conversion?
I am not skeptical, it just a little bit hard to understand all applicability of the Etherium especially when it is not complete and in development stage. Sorry for asking dumb questions, but I don't like to make an investment which I cannot fully understand. 

[ethercoin.cc]

Can you place the dollar value on 1 ether after the Ethercoin exchange 1:1?
What is the incentive of holding ethers?
What will be the stake if any and how often it will be paid?
From the simple investment in the ethercoin, what can be expected in return after 1:1 conversion?
I am not skeptical, it just a little bit hard to understand all applicability of the Etherium especially when it is not complete and in development stage. Sorry for asking dumb questions, but I don't like to make an investment which I cannot fully understand. 

It's impossible to know what the dollar value of ethers will be when the ethereum network launches.

[MintyBit]

I'd be interested if an escrow is involved. Also the Co-Pay Beta might be a good way to facilitate this. How would I go about this?

[ethercoin.cc]

I'd be interested if an escrow is involved. Also the Co-Pay Beta might be a good way to facilitate this. How would I go about this?

Please PM us to discuss a purchase.

[Momimaus]

I don´t get it.

Have you sold the 1000000 ETC, and they are now traded at bittrex?
Or do you still sell ETC for a fixed price?

If 2nd, what price?

And if someone uses escrow, he can´t really trade at bittrex, cause the ETC won´t delivered to him, isn´t it?

[Serge V.]

Trustworthy MultiSig escrow scheme for your purchases in which seller and buyer can't have any motivation to cheat each other (tested on DOGE):

1. Escrow agent creates 2-of-2 MultiSig address from Buyer and ethercoin.cc pubkeys.
2. Buyer sends 2x coins to MultiSig address (buyer collateral + buyer payment for Ether).
3. ethercoin.cc sends 1x coins to MultiSig address (ethercoin.cc collateral).
4. ethercoin.cc sends ETC to buyer.
5. Buyer converts ETC to Ether after it launch.
6. Escrow agent prepares 1x coins tx from MultiSig address to buyer (buyer collateral) and 2x coins to ethercoin.cc (ethercoin.cc collateral + buyer payment for Ether).
7. Buyer and ethercoin.cc checks and signs tx, 1x coins goes back to buyer and 2x coins goes to ethercoin.cc.

ethercoin.cc is interested to provide for buyer possibility of converting ETC/Ether because he can lose an amount equal to value of the Ether.
Buyer is interested to release the funds (he is free to do anything with his ETC), otherwise he can lose an amount equal to value of the Ether.

Choose 2-of-3 MultiSig escrow scheme if You want to add opportunity of arbitration. It will also protect you from losing, if one of the parties will disappear.

[Serge V.]

Assuming that ethercoin.cc has not paid anything for his ETC (pre-mined).  Then his collateral (2x the escrow) is worth nothing...

ethercoin.cc gets buyer's btc only after buyer will fully satisfied and has signed the tx.

Sorry, but your system doesn't work.  Even worse, the buyer would put 2X the BTC required to buy this coin than he should have.

No, actually buyer's collateral is 1x BTC (same as ethercoin.cc) because he can sell his ETC on exchanger for other 1x BTC.


Even more, if choose 2-of-3 MultiSig escrow scheme, buyer will double his BTC if ethercoin.cc will fail to provide for him possibility of converting ETC/Ether.

[bitcoinreviews]

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VOTE ETHERCOIN!!! 

[ethercoin.cc]

I don´t get it.

Have you sold the 1000000 ETC, and they are now traded at bittrex?
Or do you still sell ETC for a fixed price?

If 2nd, what price?

And if someone uses escrow, he can´t really trade at bittrex, cause the ETC won´t delivered to him, isn´t it?

When we launched we had a fixed price because the BTC exchange rate was relatively stable.  Now that it's dropped significantly, we have to  negotiate a price on a case-by-case basis.  If you are interested in buying, you should PM us to discuss a price point.

Yes, if you use escrow, you can't trade it or sent it to anymore.  You will receive your Ethers on the day the genesis block launches via escrow.