Quote from: testbitcoiner on March 19, 2014, 08:55:24 PM

Quote from: ThatMouse on March 19, 2014, 08:41:02 PM

In a way this drop in price is in the design of Earthcoin. Look at the block rewards, it's still increasing every day. In a few days we're at the max of 12,000EAC per block. Then the block reward will go down to 8,000EAC in the coming 6 months. That's a decrease of around 33%. So currently the inflation of Earthcoin is the highest it will ever be.

no. today it is the lowest of any future point in time.

it adds up every day. just because in 5 months it adds less than it adds tomorrow, does not mean inflation then is not already well over 250%

I know this is tricky... but fallacies like this drove the current eac design...

and fallacies like this prevent people seeing the fundamental problem alts face.

eac can not increase its rate of adoption enough to compensate POW inflation.

once it sinks low enough, acceptance will diminish, not increase.

the devs assume for some reason that acceptance of the coin will increase at the same rate the wallets are printing earthcoins.

POS would give eac a break and allow the rate of adoption catch up to the eac supply.

but since the devs seem very resistant to suggestions even, let alone criticism, however valid, nothing will happen.

cause if nothing happens, 'earthcoin' (the guy) has never to admit to himself that he was wrong.

he'd rather lose all his money, have his premine become worthless than admit that he has misjudged something and the suggestions of some arrogant and condescending ass in the thread (hint: me) might save his bacon from oblivion.

@testbitcoiner - I appreciate your input and thoughts, and I do now understand the POS system better now. Do you have any answers for what the Dev and 24Kilo have been saying as far as the inherent problems with POS networks and all the bugs/errors that they point to other coins who have had terrible problems with them? Do you have a solution that would be a viable fix to these issues they mentioned? Anything that makes the network vulnerable or weakens it sounds like a huge problem for me, especially after hearing a large miner's opinion on the issue. Inflation vs Deflation argument is irrelevant at this point. Let's be honest, we are not dealing with economists (Keynesian or Austrian), PHD's in Finance, or experts at trading markets for the most part in this forum.

I can't help but think everyone is somewhat a 'victim of the moment' with the responses I've seen on the forum lately. Why was there no clamoring for a switch to POS when Earthcoin was at 200 Satoshi and everyone was sitting on paper profits? I didn't hear constant attacks on the design of EAC and how 'Inflation' is destroying this crypto back then. I don't believe there is a 'magic switch' that will make the price skyrocket by pushing a button, making a press release, changing the code overnight, etc.

People are doing what people always do. We have seen the price of EAC get obliterated the past week and now everyone and their mom is coming up with 'perfectly clear' reasons why this happened. It is because we are not POS, it is because of multi-pools, Lack of Dev participation/action, etc.

The true reason, is so much more simple, and takes the least amount of assumption.

THERE ARE MORE SELLERS THAN BUYERS OF EARTHCOIN.

Maybe 'John' the original Dev is finishing off unloading his holdings. Maybe Norb is, Maybe WES, maybe some other unknown entity that accumulated 100 million coins early on and is now capitulating.

What reason would we come up with if someone with 100K to speculate with pushes EarthCoin back up to 200 Satoshi? We would then point to all kinds of reasons and say, 'look, it's perfectly clear now, EarthCoin went up because you can buy silver with EAC, the Dev team is active and getting organized, the Android wallet announcement, etc.'

Greed has certainly been a huge driver of the crypto world in general and once someone gets a taste of quick money, they start to become monsters for more. The good news is IMO that nearly 100% of the super-greedy people have left EarthCoin, and most likely sold all of their shares at a significant loss. For every seller, there is also a buyer.

So answer me this - Knowing all the facts that we know, which one is the wiser person, the one selling at 10 Satoshi, or the one buying at 10 Satoshi? The seller is guaranteed to be selling at a loss, capitulating, giving up, throwing in the towel, laying on the linoleum with a bottle of half-empty scotch. The buyer, however, what is he thinking? How could he possibly buy EarthCoin when everyone has written it off as dead and the 'pump-n-dump' crowd has moved on to the next roulette wheel?

So the people selling all this quantity of shares on the market, who likely bought at 100+ satoshi prices, and is now selling it all for 5-10% of his original investment. That is a very clear example of 'buying high, and selling low'. Is that what you would like to do also?

The People buying here on the other hand, well they are buying at 10 Satoshi, and I wonder where/when they will decide to sell? So they are buying LOW, AND Selling _____???

Seems very clear to me the answer to my question, as to which person is a better investor/speculator/profiteer at the current time.

Is the entity buying right now the truly greedy one? If EAC just goes back to 50 Satoshi he will make 5x his invesment. (EAC was at 25 satoshi just a few days ago) The risk to reward parameters of EarthCoin have never looked more promising from an investment perspective. from 10 satoshi to 1 is relatively VERY CLOSE. If indeed EarthCoin survives this bear attack, which I believe it will, you have to think it has a 50% probability of returning to a 100-200 satoshi price within the next 3-6 Months. So you are risking 10 to gain 100-200. You know what the downside is, that is very clear. What is the upside however?

This now represents a classic example of an Asymmetrical bet. Risk 10 to get back in return 200. Sure you could lose your 10 if all is indeed lost. But imagine if this is indeed a temporary panic, and EarthCoin rises from the ashes behind an improved Dev team and community backing? How will it feel to turn $1,000 into $20,000? What percent chance would you need of success to bet $10 for the chance to win $200? Would you do it for a 10% Chance? Do you think EarthCoin has a 10% chance of Survival? People play the lottery for much more terrible odds everyday.

Those who actually Buy Low & Sell High are always in the minority. They end up being very wealthy, and directly at the expense of those who do the opposite, and Buy High & Sell Low. It is indeed very hard to convince yourself to Buy at this price, and that is exactly why you should. The average person is panicking out of his mind and does not have the courage to buy more shares. He in fact is likely selling shares at tremendous losses.

I intend to be one of the few 'very wealthy'. Are you selling your Earthcoins now, or are you buying? The easiest choice is very rarely the correct one.