Xaucoin reminds me of Premine (PMC) although that coin lacked an initial emission phase and skipped straight to the phase where the mining of new coins was supposed to have ended. It was an interesting experiment although it failed in the end - not because of any major technical flaw but simply because people lost interest:
Premine is setting out to prove that cryptographic currency can continue long after the minting process has ended, making it not only a fascinating glimpse into the future of Bitcoin, but also a viable and stable alternative that thanks to its low total supply of less than 500,000 coins, allows each coin to store a great amount of wealth. This makes PMC an excellent alternative store of money. To say Premine is the future of Bitcoin isn’t far from the truth.
Link:
http://bitcointalk.org/index.php?topic=427519EDIT: Well this is depressing:
So... How profitable was (is?) mining PMC for transaction fees anyway?
I've been semi-following this coin for a while and I know PMC was designed as an experiment to see what the future Bitcoin economy might look like once all coins have been fully mined and whether or not a community of miners can be supported solely through transaction fees alone so I'm interested to see how the experiment turned out now that it's coming to a close.
Well, I can tell you the result of that experiment. It turns out people are greedy bastards, and do not pay transaction fees unless they are forced to by the client. Even when PMC was quite popular, and worth quite a lot, it was impossible to get any profit from mining. Transactions with thousands of PMC didn't even have 0.1 PMC in fee.
I have been mining PMC from the start, and have been losing money on it from the start as well.