Re: [2014 FLAGSHIP ALT] *EarthCoin* EAC +1 Community, +1 Exec Team, +1 Best Talent
Now on the premine. There was a 270 mil EACs premine. Of which 70 mils are spent at various giveaways and bounties (see OP for a list of giveaways, which do not include all the giveaways, many are not in the list). I handled main giveaway thread where giveaways were distributed to close to 1000 users, small giveaways are done by community members where we handed off lump sums. The remaining 200M Norb and I each took 100M. I'll leave Norb to disclose whereabouts of his 100M. For me, I contributed 26 mils to the bounty fund we created in the team (to encourage helps for EAC), including the 10 mils granted to Wes. I also spent various amount to charities, support games/faucets etc. This left about 65 mil for myself. I am not going to disclose my wallet address, or say what I will do with the coins. All I can say is that I still hold most of them. The recent down turn is clearly a confidence issue, the amount being dumped is much more than 65 mils (remember the outstanding coins are about 1.8 billions now).
I dont know why people like what eac15678 did. For me its a normal robbery. There is a bright information in the first post:
"Premined 2% for promotions, giveaway, bounties, dev and long term support."
I didnt know "dev and long term support" means only 3 months of work and they take rest of money and run out. They took 165M which is 247.5 BTC at the old price 150 sat. This money should be used for development, not a private things. I feel cheated because I invested a lot of money and now I have 15% of it. I dont care if you can cooperate or argue. This money is not yours. This money belongs to community!!! For me you planned this robbery a long time ago. This coin was created to cheat the people.
There is only one way to help this coin. Please, return our money to the current team - dont be evil!
YOU DONT CONTINUE DEVELOPING == MONEY IS NOT YOURS, THIS MONEY BELONGS TO THE CURRENT TEAM OF EAC
The team feels that we're best off focusing on the future. We have control of the remaining funds, and will indeed be using them to develop this coin and community. We could try to go another direction, chasing all this down, but at the end of the day it would just be a waste of effort. It is our hope that John will use what he's got to further earthcoin, and perhaps even eventually come back to help us along. We're not going to accuse him of any malfeasance, nor wish him any ill.
We are moving on. I've been in constant contact with the rest of the team for the last several days. This is off the cuff, but I can tell you a few things we're working on and where are energies lie.
We are going to be doing a newsletter, probably on a weekly basis, biweekly at the worst. It will detail current bounties, feature some news related to earthcoin, and generally have a summary of where the team is at, where we think the community is at, and a preview of upcoming things (as we are able).
While we don't yet have a lead programmer, we do have a couple of people working on needed softwares. We're working on a new version of the wallet, an updated Mac wallet, getting the github account tree sorted and maintained, and actively recruiting more programmers. If you know one or are one, contact us! As of today, I will be logging in under this account every day, so I'll see and respond to any PM's, or pass them on to the relevant team members.
I will be updating the community at least every Monday and Friday here on Bitcointalk and at earthcointalk as well. Cryptozark is primarily taking care of our twitter and facebook feeds, and others in the team may post there as well from time to time. We will not go silent again.
Enough about us for a minute. I want to address the traders. I want you to understand something. If you are willing to sell at 17 Satoshis, that's what the coin is worth to you. If it's worth more than that, HOLD, and put a sell order in where you think it should be valued, where you would like it to be valued, and something really outrageous like 1 btc to an earthcoin. Hell, it's bits on an exchange, maybe somebody will bite
But seriously, if you refuse to part with 'em at low prices, the price will go up. I would also encourage y'all to organize person to person trades, and post the (non identifying) details for all to see.
Merchants, we need more of ya! If you have something to sell, even just stuff lying about your house, put it to auction on Earthazaar. Volume will bring volume will bring increases. We all want the value to rise, but it's not going to do so simply from coin exchanges. If ya got something to sell, DO IT! And on that note, we're working on a few things to get you some support in the form of traffic for that.
Burn the white flag, raise the battle standard, man the cannon, and full steam ahead! Earthcoin!!!