Topic: [ANN][EAC] EarthCoin *SEEKING NEW EXCHANGES - HUGE VOLUMES BEING MISSED! - page 81. (Read 840344 times)

There is nothing intrinsically wrong with holding, but it's a zero sum game. POS takes that dynamic away, and removes incentive to put your money to work. The only conceptual difference between POS and fractional reserve is the issuing authority is different.

Technically, they are much different, and I have heard now from about a dozen people with far more experience than I that the technical problems are many, and dangerous, even if you leave out the economic arguments.

Bank accounts are NOT holding your money, even though that's the (now) common perception. They lend it out at interest. On checking accounts, it's only for quick transactions, or they have it covered by incoming payments (in theory. In practice they've been using fractional reserves since the mid '30s). C.D.'s and similar instruments are used for parts of medium to long term loans, which always have a higher amount of interest than what the depositor is paid. Thus you are loaning the money to the bank to invest on your behalf, rather than doing it yourself. It's both risk mitigation and hiring a middleman.

That in itself is not a problem, and could easily be done in the world of Crypto. It does require a level of transparency and trust above and beyond the coin, but so does Gold, which is where such things started. Bankiing isn't evil in itself, but central banking where they issue the "money" has become an impossible nightmare. I wish to avoid repeating the mistakes of the past, which is why I'm opposed to POS.

And what if ... we try to get in news with helping the Crimea Tatars?

I'm trying to get a few coin owers, that want to support the Crimea Tatars project, now the plan is very easy.

1. Deposit coin in a donation address
2. I will visit Crimea (most likely mid April - and using my own money for plane ticket) and check the options where people can use our coin.
3. Depending on the donation amount i will visit x number of parents that gave birth of a little child. Give a amount of money (first try to ask them to create a wallet, but some people don't have a pc, so then i will just buy those coins personally using the cryptsy price and pay them in hrivnas.


Trying to achieve:

1. Give all children a donation
2. Get in the news papers
3. Having a few new businesses that want to use the coin.

+1

I should charge money for these economics lessons....

I just have to keep out all the personal insults...

We are in a bear market, all coins are almost at record lows...Let me state differently, when you were mining all day and your electricity cost was $100 and you didn't sold anything, and now when you did your calculation you notice that when you sell it all that you will only have $40 so in fact, you mine with a lose of $60, what do you do? Take the hit and say ok, lost $60 next time better, or wait, and wait, maybe weeks, months, maybe years, and suddenly EAC is not trading at 10 sats anymore but at 100sats, and don't see that it is not true. Check last year, altcoins had a nice pump in the summer and then dropped several months and suddenly in November almost ALL coins jumped 1000% and more higher.

1. Hold and wait a long time
2. Sell and move father

That are the two options.

let me cut you off here since you're just repeating the same nonsense.

savings are not responsible for inflation.
inflation is introduced to PREVENT people from saving.

interest does not cause inflation. because it keeps the stake someone has in the economy. his "slice" of the pie stays exactly the same.
inflation is introduced by lowering INTEREST RATES. GET IT?

keynes was very much opposed to savings but FOR inflation. if it is the same thing, then you  have either made a world shattering breakthrough in economic understanding, or you do not know what you are talking about.

interest and saving is diametrically opposite to inflation and no interest on savings.

Keynes is about redistributing wealth. money moves through destruction of e.g. a broken window pane. the window owner loses wealth. he has to pay for a window. the windowmaker gets his money/wealth.

SAVINGS AND INTEREST KEEP WEALTH IN THE SAME PLACE

I have utter respect for people who know their shortcomings and stay silent on issues they do not grasp.
it shows understanding of one's own abilities, which might lie in other areas.

but people who clearly do not even grasp the BASIC principles of the economic theories involved and in real world application of these theories and make page long posts repeating the same bs over and over, post after post, should look for a friendly neighborhood lobotomist
 

yeah look at 100 of other fail crap coins who NEVER came back higher  
starting to feel this is no exception.
also you can't really compare this eac to something like doge

+9999999999999999

We are in a bear market, look at a lot of the coins!!! They are all going down, maybe EAC a little faster then other coins, but still... stop complaining and maybe start to think, dammit, 1 month ago there was a coin called DOGE and it was crashing and crashing it even hit 25 sats, and suddenly we were at 270 sats. Now this day is here again, pffff, dammit EAC is moving lower and lower, WTF, only 12, pffff. Do the same what you would do with other coins, just buy those cheap coins, and be patient, as it will move higher one day, anyway.

imagine you, your wife and your girlfriend have a 100% of a currency. how valuable is it? not very. cause no one else has it.
now imagine everyone in your whole town has this currency and you, your wife and your gf have a 2% stake of the currency.

the more spread out it is, the better.

with adoption I assumed he meant shops/merchants. of course spread is part of that. but eac could thrive even without any merchants, as long as people expect that tomorrow a merchant will start accepting it and thus accept it among themselves for trivial things like tips or micropayments.
that is what happened to bitcoin.

Normally, I try to not be involved in day to day workings in the crypto community outside of mining and financial support.
That said, I know of a person here in St. Louis, MO (USA) that has (and still working on) developed a coin with hopes of mass adoption in the local business arena. He is a bit reclusive, but I was promised a meeting with him to see his setup (as I am setting up my own mining farm). I do not know if he would have any interest in taking on this kind of project, but I'd be willing to ask if the EAC community/devs would like for me to do so.

What do you mean by that?

I did. Have sold my last EAC yesterday...

the main advantage of eac is not really adoption, but spread of the currency.

this however is threatened by the low price. people might just cut their losses and sell, thus leading to a concentration of eac into few hands.

not everyone can afford, or wants to deal with a low value coin in his portfolio.

the dev team, while playing for "the long haul" gambles away this advantage by allowing the current price decline.

I'll personally buy more when they announce that the block reward has been reduced, but that's probably because I already have more than enough.

Yes, it is.
One thing EAC has going is amazing community support.
Earthazaar is becoming one of my favorite websites!

hm I don't know. the market cap decreases steady 5% now every day for 50 days. Per coin the decrease is even more. So time to buy? ^^ I think the coin has just nothing technically new and there is no real network effect. But saying that: I wrote the same about Mooncoin and a few days latter it 20folded...

looks like EAC is only going one way - DOWN 

Yes, I'm enjoying reading as well. People just need to read the facts from the posts and ignore the tone, then it will get even better.



EAC is far ahead of those coins in terms of usability and adoption, so far.

discussion? I see shouting
it is amazing that they don't realize that the few people still posting here are only critics and the dev team including hired hands

didn't you know? holding is hording... Keynes blamed saving for stock market crashes. if the money is not constantly circulated, bad things will happen.
it is amazing that they do not seem to understand that satoshi created bitcoin and crypro exactly to get rid of this idiotic idea.

the few percent people get each month for saving/holding a POS crypto are making no one not wanna buy stuff.

And when have we said we are not touching the code?

http://earthcoin.eu/?p=293
https://bitcointalksearch.org/topic/m.5373252
https://earthcointalk.org/forums/topic/seeking-coin-wallet-and-service-developers-bounties-available-escrow-needed/
https://cryptocointalk.com/topic/6629-seeking-coin-wallet-and-service-developers-healthy-bounties-escrow-needed/

The only thing we've changed our official position on was ASIC resistance (since ASICs are an evolutionary step forward).

and YES.  We are developing, but only one person reached out to us to help develop the next version of Earthcoin (Linki) and he is a good programmer but new to crypto, so he is learning as he goes.  If you want to see dev happen faster, please feel free to make an introduction to some other experienced dev who is willing to put aside work on their own coin to work on Earthcoin.  We would love that intro and have a bounty ready for them.

Also, what are you expected timelines?  Doge is able to evolve quickly because they have a large community.  If you feel like you can do a better job building out the community.  DO IT.  This is why I joined the Earthcoin team and why so many other have joined in the last few weeks.

really? How can someone call this coin as example? Sunny King, Peercoin, hm?

I think EAC has a new all time low? You are discussing, to implement POS to EAC to get it up again? Why should I use EAC when I can use innovative coins like Blackcoin or Darkcoin?