ECCoin is a great concept, I like the idea of proof-of-stake Cryptos and electricity-saving Crypto coins! Any coin using less energy than bitcoins (or fiat, that is) is good: please note that government fiat uses EVEN MORE energy than bitcoins (have you ever figured how much energy fiat money printing, fiat transactional electricity/clearing, physical bills and coins logistics, distribution, destruction of worn-out bills and coins, and recycling consumes? Not to mention security, forensics and crime investigation after a bank robbery...!)
Bitcoin is relatively good (better than fiat) already, the evident issues with wasting power on its part need to be solved by competing Crypto coins that are simply better at these particular matters. This is the general idea of a free market and competing currencies anyway.
With ECCoin's 1% PoS reward after 9 years (or the 1% rate of "minting" after 9 years), I don't see the attraction of ECC over PPC (peercoins) though -- as that very Crypto coin has precisely the same situation that EEcoin will have after those initial 9 years out in the future.
Adding to the overall picture, MINT (or mintcoins) will offer a more attractive 5% PoS reward FOREVER and hence will be more attractive to merchants, private holders/investors and other stake holders than either PPC or ECC.
That said, it will be up to ECCoin and the overall ECC community to gather wider acceptance during those initial 9 years of "advantage over PPC" in order to succeed in the above mentioned competition of currencies. THIS initial period will either make or break ECC against its closest competitors.
So let's do it, introduce ECC to a wider market and build a REAL economy (of everyday uses of ECC) around it in order to succeed.
To the (da) Moon then
+1 Bitcoin is relatively good (better than fiat) already, the evident issues with wasting power on its part need to be solved by competing Crypto coins that are simply better at these particular matters. This is the general idea of a free market and competing currencies anyway.
With ECCoin's 1% PoS reward after 9 years (or the 1% rate of "minting" after 9 years), I don't see the attraction of ECC over PPC (peercoins) though -- as that very Crypto coin has precisely the same situation that EEcoin will have after those initial 9 years out in the future.
Adding to the overall picture, MINT (or mintcoins) will offer a more attractive 5% PoS reward FOREVER and hence will be more attractive to merchants, private holders/investors and other stake holders than either PPC or ECC.
That said, it will be up to ECCoin and the overall ECC community to gather wider acceptance during those initial 9 years of "advantage over PPC" in order to succeed in the above mentioned competition of currencies. THIS initial period will either make or break ECC against its closest competitors.
So let's do it, introduce ECC to a wider market and build a REAL economy (of everyday uses of ECC) around it in order to succeed.
To the (da) Moon then
