"Earthcoin" Is John Carr.
John Carr and his buddies from PhenixEx, who stole the exchange accounts money along with a Phenixcoin premine dump at the same time. We're fucked.
Sister coins.
Evidence? pics, link, something other than your assertion?
Edit: Assuming the above is true, and massive dump of the premine is now happening, I have to say, think positive. Let it play out. Buy when it hits that magical 1 satoshi mark. Or wherever you think it will bottom out.
Why?
Cuz if the premine has been dumped, then it's all in circulation. Which means the foundations that make the coin cool are still there, and the uncertainty in re: the devs is gone. We can go places with it. Sure the value will drop in the short term, but hey, there's nothing in the algorithm that makes the short term matter. Build the external infrastructure, as has been being done. Earthazaar, ATXsilver TwentyGoToTen, et al. have done more for this coin than the devs right out of the gate. Also 24kilo's idea was quite sound, and could still play out.
The uncertainty was more of a problem than any dump. If indeed that's what they did, then they have already shot their wad. They are out of the game, leaving it to the community, who ain't fools even if we've been played.
Besides, if it's selling at one satoshi and doesn't just fade away, imagine JUST the day trading profits in a bit as it rises. There is nowhere to go but up from the bottom.
You are right, I have no proof. Only a bunch of dots with highly similar lines connecting them and a price that correlates.
The premine was much bigger than has been dumped though. There should still be plenty left. Expect any rise to be smothered via what is left, or by switching pools.
Who owns the private key to fork EAC? We need a new main dev. EAC needs new features like scrypt-n. Anything to stop the switching pools.