Topic: [ANN][EAC] EarthCoin *SEEKING NEW EXCHANGES - HUGE VOLUMES BEING MISSED! - page 86. (Read 840344 times)
March 18, 2014, 01:19:34 PM
EAC on verge of single digit satoshi prices. Is this the end? Or are we going to implement PoS?
March 18, 2014, 01:13:25 PM
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March 18, 2014, 12:43:41 PM
https://earthazaar.com/product/1-oz-999-fine-silver-bullion-coin-2013-american-silver-eagle/
Get em while their hot!
Get em while their hot!
I am not a fan of your "sales." Marked down my ass. Plus these are now triple what they used to be when EAC was just double.
March 18, 2014, 12:03:14 PM
https://earthazaar.com/product/1-oz-999-fine-silver-bullion-coin-2013-american-silver-eagle/
Get em while their hot!
Get em while their hot!
March 18, 2014, 12:02:43 PM
I dont care about premine, hashes, reward , merchants, etc.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
Think what EAC need the most at the moment is stablility, and changing to POS is the oppositie. Im mostly concerned in getting new people into Crypto, both retailers & there customers. They do not care about the underlaying tech, they just need to know it is secure.
Yes, a agree the underlaying tech will need work in the future but just changing this in hope you will get a some more sat?
Forget BTC & exchanges, i want to pay for my hosting with EAC, order Fyverr jobs, get a cup of coffee or order a book.
We need to exchange EAC for products, not BTC
what a tremendously stupid post.
stability is exactly what POS stands for... and POW creates more and more and more coins every day. it is the opposite of stability.
in 3 months we will have twice as much eac as we have now. even if we get twice as many merchants accepting eac, even if twice as many people for some strange reason buy into eac, we will still be at close to 1 satoshi. why? cause there is no perspective.
in 3 months we know that come december there will again be double the eac.
1) with POS this would stop NOW.
2) every holder of EAC would be rewarded. you'd earn more coins by HOLDING them. that means people have no incentive to sell. interest would be created after let's say 4 days of holding coins and trickle in slowly, or be a random reward in big blocks.
basically you'd mine by holding, not mine and sell.
3) people would not hold millions of eac on cryptsy or the next mtgox because they want interest. this would prevent a situation like cryptorush being hacked, xxx mil eac stolen and then instantly sold on cryptsy to not be tracked.
4) eac has a very fast transaction time. there is no reason to hold it on exchanges anyway
5) POS will give merchants more reason to accept eac, because it is more stable by limiting the amount of eac produced each day.
now a merchant has to run a script or adjust prices manually every time eac takes a dive on cryptsy (=daily)
6) proof of stake is OLD. it is not a "new thing". it is not buggy or has problems like the gravity well algo
7) credibility of eac: this coin screams earth and it should also scream "cares about earth". personally, I think this is utter bullshit. I do not believe in this idea of saving a piece of rock that could not care less about us. but it sells.
and it is not inconsistent.
POS costs a tiny fraction of computer power and thus energy that POW does.
this is unfortunately a problem in these threads.. the echo chamber effect. a large amount of "believers" who'd praise the devs even if they had sex with their mom and a small amount of people who have completely unreasonable expectations and criticism. few people actually want to improve the coin. some trashers have financial interests, so have some "praisers".
some are just pissed off and some are clueless.
I suggest stopping all that and look at what the competition does, and imitate that:
Blackcoin had 1400 BTC volume on one day. on mintpal. not even cryptsy. it still is not on cryptsy. it was POW for a week, then switched completely to POS.
yes, this was pre planned, and not directly comparable.
but BC will never sink to 1 satoshi cause there is no new supply. 1 week of mining. that was it.
Zeitcoin does the same. it's 6 weeks and a few minute differences.
both coins have just ONE huge disadvantage. they are not spread out like EAC.
EAC is superiour cause more different people hold eac. that is the crux with POS, the spreading of the currency.
EAC could combine the benefits of POW and POS by drastically limiting new production, creating new coins only by giving people EAC that have held eac in their wallet for many days.
9) the last point is psychological: for many here, change is bad. why? cause they are still here. only those who can stand standstill are continuing to post in an environment that seems to lack any change.
change in the real world, especially in business, is always seen as good. even if it is catastrophic, and it would have been better not to do anything.
in this case, I made my case and there are valid reasons to DO something, not to hope and collect change... which is what eac would become.
the public eye will see this as a good thing. especially since POS is old, yet a new trend, one that has been very successful in times of asic miners and so on.
POS is independent of asics, multipools, exchange hacks (relatively) and other problems POW has.
I think many who do not approve of this idea are just not very well informed.
to make it clear again: I think eac has TREMENDOUS potential, but not in its current form.
we have the chance to combine the proliferation and the spread that our POW scheme has created with the incentive to hold, to buy more and to "invest" that POS does.
if we do this, eac could be the new protein in the primordial soup of scrypt alts
+42
You saved me a ton of typing.
PoW and PoS together in well though out proportion would be the best thing possible. So much EAC is already out there, it would be ideal to implement at this point more than any.
His post is 99% right (the testbitcoiner) , anyway if u want to join PoW and PoS altogether maybe you can use that 2x and 3x thing to like.. 'mining day' & 'no mining day' , got me? just an idea
March 18, 2014, 12:01:45 PM
Name one established successful POS coin ...
I never heard of one.
I never heard of one.
March 18, 2014, 11:57:36 AM
This behavior of Mr. Market allows the investor to wait until Mr.Market is in a 'pessimistic mood' and offers low sale price. The investor has the option to buy at that low price. Therefore patience is such an important virtue when dealing with Mr. Market.
Just sayin , be carefull about putting your patience in wrong place btw.
March 18, 2014, 11:49:36 AM
I dont care about premine, hashes, reward , merchants, etc.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
Think what EAC need the most at the moment is stablility, and changing to POS is the oppositie. Im mostly concerned in getting new people into Crypto, both retailers & there customers. They do not care about the underlaying tech, they just need to know it is secure.
Yes, a agree the underlaying tech will need work in the future but just changing this in hope you will get a some more sat?
Forget BTC & exchanges, i want to pay for my hosting with EAC, order Fyverr jobs, get a cup of coffee or order a book.
We need to exchange EAC for products, not BTC
what a tremendously stupid post.
stability is exactly what POS stands for... and POW creates more and more and more coins every day. it is the opposite of stability.
in 3 months we will have twice as much eac as we have now. even if we get twice as many merchants accepting eac, even if twice as many people for some strange reason buy into eac, we will still be at close to 1 satoshi. why? cause there is no perspective.
in 3 months we know that come december there will again be double the eac.
1) with POS this would stop NOW.
2) every holder of EAC would be rewarded. you'd earn more coins by HOLDING them. that means people have no incentive to sell. interest would be created after let's say 4 days of holding coins and trickle in slowly, or be a random reward in big blocks.
basically you'd mine by holding, not mine and sell.
3) people would not hold millions of eac on cryptsy or the next mtgox because they want interest. this would prevent a situation like cryptorush being hacked, xxx mil eac stolen and then instantly sold on cryptsy to not be tracked.
4) eac has a very fast transaction time. there is no reason to hold it on exchanges anyway
5) POS will give merchants more reason to accept eac, because it is more stable by limiting the amount of eac produced each day.
now a merchant has to run a script or adjust prices manually every time eac takes a dive on cryptsy (=daily)
6) proof of stake is OLD. it is not a "new thing". it is not buggy or has problems like the gravity well algo
7) credibility of eac: this coin screams earth and it should also scream "cares about earth". personally, I think this is utter bullshit. I do not believe in this idea of saving a piece of rock that could not care less about us. but it sells.
and it is not inconsistent.
POS costs a tiny fraction of computer power and thus energy that POW does.
this is unfortunately a problem in these threads.. the echo chamber effect. a large amount of "believers" who'd praise the devs even if they had sex with their mom and a small amount of people who have completely unreasonable expectations and criticism. few people actually want to improve the coin. some trashers have financial interests, so have some "praisers".
some are just pissed off and some are clueless.
I suggest stopping all that and look at what the competition does, and imitate that:
Blackcoin had 1400 BTC volume on one day. on mintpal. not even cryptsy. it still is not on cryptsy. it was POW for a week, then switched completely to POS.
yes, this was pre planned, and not directly comparable.
but BC will never sink to 1 satoshi cause there is no new supply. 1 week of mining. that was it.
Zeitcoin does the same. it's 6 weeks and a few minute differences.
both coins have just ONE huge disadvantage. they are not spread out like EAC.
EAC is superiour cause more different people hold eac. that is the crux with POS, the spreading of the currency.
EAC could combine the benefits of POW and POS by drastically limiting new production, creating new coins only by giving people EAC that have held eac in their wallet for many days.
9) the last point is psychological: for many here, change is bad. why? cause they are still here. only those who can stand standstill are continuing to post in an environment that seems to lack any change.
change in the real world, especially in business, is always seen as good. even if it is catastrophic, and it would have been better not to do anything.
in this case, I made my case and there are valid reasons to DO something, not to hope and collect change... which is what eac would become.
the public eye will see this as a good thing. especially since POS is old, yet a new trend, one that has been very successful in times of asic miners and so on.
POS is independent of asics, multipools, exchange hacks (relatively) and other problems POW has.
I think many who do not approve of this idea are just not very well informed.
to make it clear again: I think eac has TREMENDOUS potential, but not in its current form.
we have the chance to combine the proliferation and the spread that our POW scheme has created with the incentive to hold, to buy more and to "invest" that POS does.
if we do this, eac could be the new protein in the primordial soup of scrypt alts
+42
You saved me a ton of typing.
PoW and PoS together in well though out proportion would be the best thing possible. So much EAC is already out there, it would be ideal to implement at this point more than any.
March 18, 2014, 11:44:07 AM
@testbitcoiner
Gotta admit your last post got me thinking. I'm going to ponder on the subject for a while, looks like I was a bit mistaken in my understanding of how POS works. Thanks for the clarity of this post, I appreciate your input and I hope you keep bringing ideas & innovations into the Earthcoin community, regardless of if they end up being acted upon or not.
Sometimes it is hard not to trash an idea based on the ignorance of the authors, which is why those clamoring for POS for nothing other than a temporary price jump drew my ire. Your points made use of solid logic, and I can understand and go forward when that is the case.
I still think we need to stress the 'cup of coffee' transaction abilities, and somehow get some real businesses to start accepting EAC for it's services.
Could someone here even start something similar to BitStamp? IE you offer the coffee shop a 'guaranteed price' in Fiat for which they will then accept earthcoin at say 20% above current market prices to lock in their profits? You could settle up once a week with them and pay them in Fiat, having them transfer you the EAC to your wallet at that time. The 20% EAC premium to current USD/EAC rates would give you a head start at least as far as getting back to FIAT if you had to do so.
Once we were 'In' at some kind of establishment (Anyone know someone who owns a coffee shop?) It would only be a short step to getting a news article, or press release promoting the idea. "Karma Coffee Accepts BitCoin Alternative 'EarthCoin', a Crypto offering real world transaction speed useful for every day purchases"
Gotta admit your last post got me thinking. I'm going to ponder on the subject for a while, looks like I was a bit mistaken in my understanding of how POS works. Thanks for the clarity of this post, I appreciate your input and I hope you keep bringing ideas & innovations into the Earthcoin community, regardless of if they end up being acted upon or not.
Sometimes it is hard not to trash an idea based on the ignorance of the authors, which is why those clamoring for POS for nothing other than a temporary price jump drew my ire. Your points made use of solid logic, and I can understand and go forward when that is the case.
I still think we need to stress the 'cup of coffee' transaction abilities, and somehow get some real businesses to start accepting EAC for it's services.
Could someone here even start something similar to BitStamp? IE you offer the coffee shop a 'guaranteed price' in Fiat for which they will then accept earthcoin at say 20% above current market prices to lock in their profits? You could settle up once a week with them and pay them in Fiat, having them transfer you the EAC to your wallet at that time. The 20% EAC premium to current USD/EAC rates would give you a head start at least as far as getting back to FIAT if you had to do so.
Once we were 'In' at some kind of establishment (Anyone know someone who owns a coffee shop?) It would only be a short step to getting a news article, or press release promoting the idea. "Karma Coffee Accepts BitCoin Alternative 'EarthCoin', a Crypto offering real world transaction speed useful for every day purchases"
March 18, 2014, 11:28:01 AM
Problem is retailers are hard to convince to use eac when they see the constant downward trend. It's too risky for them. But if the value was constantly around some number it would be much easier for them to trust that they will get their fiat out of it.
This. See comment below.
I dont care about premine, hashes, reward , merchants, etc.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
Think what EAC need the most at the moment is stablility, and changing to POS is the oppositie. Im mostly concerned in getting new people into Crypto, both retailers & there customers. They do not care about the underlaying tech, they just need to know it is secure.
Yes, a agree the underlaying tech will need work in the future but just changing this in hope you will get a some more sat?
Forget BTC & exchanges, i want to pay for my hosting with EAC, order Fyverr jobs, get a cup of coffee or order a book.
We need to exchange EAC for products, not BTC
What better time than now to discuss and even implement PoS, when EAC is at it's lowest interest in eons? It will effect the least amount of people. It also lays credence to the "long-term investment" side of EAC's marketing. There is little room for this to be a bad thing.
Having a solid plan for bagholders (merchants are these guys too) is key, and bottoming out further probably wont happen without total loss if interest in favor of alternatives. Something to salvage their hopes would be great. It doesn't have to salvage the hopes of traders, just merchants, nor must this be "following a trend" because some other coin does it. It would boost confidence that things will be moving up, or that losses will equal out.
Ok, so I create 100 ATX Silver Dollars, and then give them to 100 people, promising it will be a great currency for the future. The promise is that in 1 years time I will give all 100 of those people 20 MORE ATX Silver Dollars, and that this will be a great way for all my holders to profit.
DO I ACTUALLY CREATE ANY WEALTH BY DOING THIS? Or is it but a 'mirage' of wealth. If you create 20% more supply of something, you dilute the current holders by that same 20%. Are we trying to copy the US dollar with cryptocurrency?
It's half dozen one way, 6 the other. Unless I am misunderstanding something how is creating 20% interest for hoarding cryptocurrency going to increase the UTILITY of the currency?
Why not make it 1000% interest? Why stop at 20%? Do you realize the gap right now between 14 & 17 Satoshi for Earthcoin represents over 20% gains? So I should hold for a year to get what I can get for buying at 14 and selling at 17 later today?
Can someone help me with the logic of this? I am trying to be open minded but I don't hear anything that sounds convincing to me. There is a finite # of Earthcoins that will ever be created. And while the current price is not encouraging, it does offer opportunity. You see the longer the price stays low, it allows those who wish to accumulate a large stake a chance to do so in great numbers at extremely low prices. The longer prices stay low, the more large holder's can accumulate for the eventual blastoff that will happen when whoever it is selling runs out of shares. From the weak to the strong. Remember, the story and prospects of Earthcoin have only improved throughout the last month, and the price action is irrelevant to those facts. A big seller/ or sellers are dumping shares at any price, possibly in an attempt to discredit the coin, show the 'believers' who is boss, etc. (IE Based on emotional thinking, not profits) My gut tells me it is probably one of the Devs who is dumping his 'stolen' premine because he is disenfranchised.
I can think of 3 people at least who now have 1% of the current float. Where are my other '47 disciples' that will make up the Inner Circle of Earthcoin? It is on sale down to $1500, for 1% of the float. Buy, Buy, Buy, & refuse to sell. I would like to see who else owns 1% of the current float, so chime in if you do, I think we can get to the 50 we need for 'Project Strong-Arm', and lay the table for a profound recovery.
Remember to be patient, watching day-to-day price fluctuations will drive you completely insane, take a step back from the price action, come up with a plan, and stick to it. Don't let the irrational price create irrational emotion in you that makes you irrationally sell at the bottom. Give this a month to shake out. Right now there is panic in the air, and panic in the crypto world in general. No one ever made a dollar panicking. From everything I have ever seen, buying into panic usually works out pretty well for investors.
The Wealthiest Investor in the World strongly believes in the below, Do you?
Mr. Market is often identified as having human behavioral manic-depressive characteristics, it:
Is emotional, euphoric, moody
Is often irrational
Offers that transactions are strictly at your option
Is there to serve you, not to guide you.
Is in the short run a voting machine, in the long run a weighing machine.
Will offer you a chance to buy low, and sell high.
Is ‘frequently efficient…but not always.
This behavior of Mr. Market allows the investor to wait until Mr.Market is in a 'pessimistic mood' and offers low sale price. The investor has the option to buy at that low price. Therefore patience is such an important virtue when dealing with Mr. Market.
PS I am not against innovation, forking, etc, I just think it needs to be done with long-term success and value creation in mind, not temporary wild fluctuations which serve no purpose to benefit EAC.
March 18, 2014, 11:20:13 AM
I dont care about premine, hashes, reward , merchants, etc.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
Think what EAC need the most at the moment is stablility, and changing to POS is the oppositie. Im mostly concerned in getting new people into Crypto, both retailers & there customers. They do not care about the underlaying tech, they just need to know it is secure.
Yes, a agree the underlaying tech will need work in the future but just changing this in hope you will get a some more sat?
Forget BTC & exchanges, i want to pay for my hosting with EAC, order Fyverr jobs, get a cup of coffee or order a book.
We need to exchange EAC for products, not BTC
what a tremendously stupid post.
stability is exactly what POS stands for... and POW creates more and more and more coins every day. it is the opposite of stability.
in 3 months we will have twice as much eac as we have now. even if we get twice as many merchants accepting eac, even if twice as many people for some strange reason buy into eac, we will still be at close to 1 satoshi. why? cause there is no perspective.
in 3 months we know that come december there will again be double the eac.
1) with POS this would stop NOW.
2) every holder of EAC would be rewarded. you'd earn more coins by HOLDING them. that means people have no incentive to sell. interest would be created after let's say 4 days of holding coins and trickle in slowly, or be a random reward in big blocks.
basically you'd mine by holding, not mine and sell.
3) people would not hold millions of eac on cryptsy or the next mtgox because they want interest. this would prevent a situation like cryptorush being hacked, xxx mil eac stolen and then instantly sold on cryptsy to not be tracked.
4) eac has a very fast transaction time. there is no reason to hold it on exchanges anyway
5) POS will give merchants more reason to accept eac, because it is more stable by limiting the amount of eac produced each day.
now a merchant has to run a script or adjust prices manually every time eac takes a dive on cryptsy (=daily)
6) proof of stake is OLD. it is not a "new thing". it is not buggy or has problems like the gravity well algo
7) credibility of eac: this coin screams earth and it should also scream "cares about earth". personally, I think this is utter bullshit. I do not believe in this idea of saving a piece of rock that could not care less about us. but it sells.
and it is not inconsistent.
POS costs a tiny fraction of computer power and thus energy that POW does.
this is unfortunately a problem in these threads.. the echo chamber effect. a large amount of "believers" who'd praise the devs even if they had sex with their mom and a small amount of people who have completely unreasonable expectations and criticism. few people actually want to improve the coin. some trashers have financial interests, so have some "praisers".
some are just pissed off and some are clueless.
I suggest stopping all that and look at what the competition does, and imitate that:
Blackcoin had 1400 BTC volume on one day. on mintpal. not even cryptsy. it still is not on cryptsy. it was POW for a week, then switched completely to POS.
yes, this was pre planned, and not directly comparable.
but BC will never sink to 1 satoshi cause there is no new supply. 1 week of mining. that was it.
Zeitcoin does the same. it's 6 weeks and a few minute differences.
both coins have just ONE huge disadvantage. they are not spread out like EAC.
EAC is superiour cause more different people hold eac. that is the crux with POS, the spreading of the currency.
EAC could combine the benefits of POW and POS by drastically limiting new production, creating new coins only by giving people EAC that have held eac in their wallet for many days.
9) the last point is psychological: for many here, change is bad. why? cause they are still here. only those who can stand standstill are continuing to post in an environment that seems to lack any change.
change in the real world, especially in business, is always seen as good. even if it is catastrophic, and it would have been better not to do anything.
in this case, I made my case and there are valid reasons to DO something, not to hope and collect change... which is what eac would become.
the public eye will see this as a good thing. especially since POS is old, yet a new trend, one that has been very successful in times of asic miners and so on.
POS is independent of asics, multipools, exchange hacks (relatively) and other problems POW has.
I think many who do not approve of this idea are just not very well informed.
to make it clear again: I think eac has TREMENDOUS potential, but not in its current form.
we have the chance to combine the proliferation and the spread that our POW scheme has created with the incentive to hold, to buy more and to "invest" that POS does.
if we do this, eac could be the new protein in the primordial soup of scrypt alts
March 18, 2014, 11:18:10 AM
Earthcoin will feature two pages in the book called Cryptocurrency "The Alt-ernative" the Beginner's Reference
https://bitcointalk.org/index.php?topic=483187.new#new
Please donate to the below Earthcoin wallet address in order to help fund this project:
egj4xWwMZVa5D2aMmUAbwfKfzjx1AgwkG9
It will have 2 pages similar to this:
If you spot any spelling or grammar errors, these are easily sorted. I do have a full time job as well as trying to get this project completed too.
https://bitcointalk.org/index.php?topic=483187.new#new
Please donate to the below Earthcoin wallet address in order to help fund this project:
egj4xWwMZVa5D2aMmUAbwfKfzjx1AgwkG9
It will have 2 pages similar to this:
If you spot any spelling or grammar errors, these are easily sorted. I do have a full time job as well as trying to get this project completed too.
March 18, 2014, 11:00:04 AM
what would immensly help is something that other sites will talk about and will renew interest in eac.
I suggest switching to proof of stake asap.
then implement 25% interest in the first year, then 20% next year and so on. this will people want to HOLD eac.
right now nobody in their right mind holds this coin.
with proof of stake, it would finally resonate with the "protect nature crowd", it will stop multipools raping the coin and news sites would support that step and report it.
it is only natural for "earth"coin to use POS since it is so power saving. hell, make an 40% interest in the first year, but reward people who HOLD the coin, not those who multipool it
do this, even announce this, and EAC will rise tenfold in mere days.
I suggest switching to proof of stake asap.
then implement 25% interest in the first year, then 20% next year and so on. this will people want to HOLD eac.
right now nobody in their right mind holds this coin.
with proof of stake, it would finally resonate with the "protect nature crowd", it will stop multipools raping the coin and news sites would support that step and report it.
it is only natural for "earth"coin to use POS since it is so power saving. hell, make an 40% interest in the first year, but reward people who HOLD the coin, not those who multipool it
do this, even announce this, and EAC will rise tenfold in mere days.
Interested in hearing other people's opinions on this.
I think this is brilliant idea.
further , or we could do a snapshot just like pts. For whoever own 1 EAC right now, will get 10 (156/15)EAC. mine all of EAC out and distribute to EAC holders. You know C2? they are listed on bter within one week. we should learn from them. We already have nothing to lose.
but, i bet the dev team will ignore us just like always because they are born to be losers. If they have another chance, they will make some other kind of stupid mistake. and fail again.
This is a perfect example of 'Short-term' thinking to artificially prop the price up so speculators can profit. The 'soup du jour' in crypto launches recently has been this POS style, and initially the price skyrockets, allowing the Dev's to unload at artificially high prices created by the speculators who are CERTAIN that the 'new Gimmick Coin' is the way to go!
Are we just chasing the latest 'fad' in order to spike the EAC price temporarily to the profit of a few? What happens when the 'newer' coins that come around next month create a 'better' way than POS and we see their launches go up several fold in the first day, do we then change from POS to the newest trend and issue another press release? Are we resigning ourselves to just be a continual pump-n-dump scheme just to make you maniac day-traders happy?
"You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time."
Or should we focus on long-term development and real world applications in order to allow the price to rise, slowly but surely, over the Long run, rewarding ALL EarthCoin holders?
Is it really different this time? This NEW FAD COIN IS THE WAY TO GO!! LOOK IT WENT UP 500% in one day! If EarthCoin only switched it's purpose weekly to copy the current fad we would all be rich! Right?
So Earthcoin announces it is switching it's code to POS with a novel Press Release, speculators pile in and manipulate the price upwards temporarily, only to see it crash back down to an even a lower price once the rush is over? Do you see MINTCOIN's dev offering any viable long-term creative solutions to further user adoption of his coin? Is he actively promoting and creating long-term value for the coin, or is the promise of 20% more coins a year enough to keep everyone from selling if there are no Real World Applications for your coins? I think it likely most of the 'Devs' of these new coins sell out as soon as they start seeing $20,000+ sitting in their wallet, and are pretty much done with the 'development' coin, having made their 'quick buck'. Just being POS in itself is not worth anything without the proper support & development by Dev's with vision.
What makes POS so much better than Earthcoins current model? Is 20% a year to hoard your Coins and then paying 'interest' in more coins to dilute your holdings further really that great? You truly think for a 'currency' to succeed you should attempt to incentivize your coinholders to just hoard them away and forget about them, knowing they get 20% interest a year? Furthermore, what is 20% interest worth annually when MINTcoin goes down to 5 satoshi? Will your extra 1 coin per year feel all that fantastic for letting your coins sit idle for a year?
POS, while an interesting approach and change of pace from the BTC style models, is not necessary for Earthcoin. It may be great for a commodity, but for an internet currency I think the holders need to be creative in the utility and promotion of the coin. An ALT COIN will only gain in value if it is increasingly used for REAL WORLD commerce, transactions, money transfers, etc. We need to work on giveaways and increased merchant adoption, increasing the 'buzz' around the coin with novel actions that create naturally positive press, etc. Think about DogeCoin sponsoring the Jamacian bob-sled team, that did WAY more for DogeCoin than switching to the latest fad would have.
I think those clamoring for a 'switch' to POS are not seeing the forest for the trees here. The key to having EarthCoin rise is through dedicated work/promotion by the community, valuable insight and leadership by those in position to do so, and creating more & more ways to use EarthCoin in real-world commerce while increasing user adoption.
Also, a SUSTAINABLE price rise happens slowly over time, with jumps here and there along the steady upward climb. Nothing worth doing was ever easy, and anyone who has started a business that became successful understands that it takes Blood, Sweat & Tears to reach your goals. There is no short-cut, there is no 'get-rich-quick' gimmick that will make us all rich with a single press release, and POS is no magical solution.
PoS isnt a new fad, it was one of the earliest developments, after scrypt, the new fad today seems to be ASIC resistance and Anonymous blockchain / transactions. I agree with what your saying tho but you should also remember that Dogecoin has forked about 10 times, they we're crazy at the start, thats one of the reasons why we all thought it wouldn't last. They even forked recently. http://www.reddit.com/r/dogecoin/comments/207hfb/ann_dogecoin16_its_ready_all_you_need_to_know/ Anyway my point is that I don't see why we cant take both approaches, charity and belief in the coin in one hand + changing the code to something more fitting for the coin and its future in the other, to keep it competitive. Bitcoin was unique in that it was unique for its time, it had no rivals for years so it had a really good start but its just a different game now. If bitcoin was released now, with all this competition it would probably be a flop.
March 18, 2014, 10:51:10 AM
Big innovation or close the shop.
March 18, 2014, 10:38:31 AM
Problem is retailers are hard to convince to use eac when they see the constant downward trend. It's too risky for them. But if the value was constantly around some number it would be much easier for them to trust that they will get their fiat out of it.
This. See comment below.
I dont care about premine, hashes, reward , merchants, etc.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
What EAC NEEDS is...big innovation, all Litecoin based is doomed, people will naturally(if they smart enough) choose Litecoin as their main battletank , so what EAC need is innovation like NXT coin (known as second generation cryptocurrencies) , first generation will be replaced by second/even thrid generation later, even Bitcoin, regardless its mineable or not, and if you think hard/ have knowledge in Economy, large business will prefer NXT or the like type for all of this.
Think what EAC need the most at the moment is stablility, and changing to POS is the oppositie. Im mostly concerned in getting new people into Crypto, both retailers & there customers. They do not care about the underlaying tech, they just need to know it is secure.
Yes, a agree the underlaying tech will need work in the future but just changing this in hope you will get a some more sat?
Forget BTC & exchanges, i want to pay for my hosting with EAC, order Fyverr jobs, get a cup of coffee or order a book.
We need to exchange EAC for products, not BTC
What better time than now to discuss and even implement PoS, when EAC is at it's lowest interest in eons? It will effect the least amount of people. It also lays credence to the "long-term investment" side of EAC's marketing. There is little room for this to be a bad thing.
Having a solid plan for bagholders (merchants are these guys too) is key, and bottoming out further probably wont happen without total loss of interest in favor of alternatives. Something to salvage their hopes would be great. It doesn't have to salvage the hopes of traders, just merchants, nor must this be "following a trend" because some other coin does it. It would boost confidence that things will be moving up, or that losses will equal out.
March 18, 2014, 10:20:22 AM
Problem is retailers are hard to convince to use eac when they see the constant downward trend. It's too risky for them. But if the value was constantly around some number it would be much easier for them to trust that they will get their fiat out of it.
March 18, 2014, 10:16:48 AM
You sure u are 'investing'? not blind-playingonly buying? Anyone with good economy knowledge wont buy EAC (mine it no problem) using BTC/others
You're right I used the term in a sarcastic manner. I'm basically gambling and I'm fine with it.
March 18, 2014, 10:15:11 AM
In an unrelated note, coinex has been robbed, and the EAC is being unloaded on cryptsy.
Is this true?
I have not been keeping up.
Anybody know the truth to this???
I dunno, but my EAC investment has lost 35% of its value in 24 hours.
I expected it to be way more likely to go down than to go up, but didn't expect it to be this fast.
You sure u are 'investing'? not blind-playingonly buying? Anyone with good economy knowledge wont buy EAC (mine it no problem) using BTC/others
March 18, 2014, 09:39:09 AM
In an unrelated note, coinex has been robbed, and the EAC is being unloaded on cryptsy.
Is this true?
I have not been keeping up.
Anybody know the truth to this???
I dunno, but my EAC investment has lost 35% of its value in 24 hours.
I expected it to be way more likely to go down than to go up, but didn't expect it to be this fast.
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