Post
Topic
Board Announcements (Altcoins)
Re: [2014 FLAGSHIP ALT] *EarthCoin* EAC +1 Community, +1 Exec Team, +1 Best Talent
by
testbitcoiner
on 19/03/2014, 22:31:18 UTC


@testbitcoiner -

1)especially after hearing a large miner's opinion on the issue
...
2) Why was there no clamoring for a switch to POS when Earthcoin was at 200 Satoshi
...
3) It is because we are not POS, it is because of multi-pools, Lack of Dev participation/action, etc.
...
4) The true reason, is so much more simple, and takes the least amount of assumption.

THERE ARE MORE SELLERS THAN BUYERS OF EARTHCOIN.
...

5)  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.

1) miners cannot mine POS. miner can often afford asics. miners mine. they do not hold the coin. miners care little if eac is at 1 sat, as long as the difficulty is low enough to make it lucrative to mine eac.

2) because you might have already proposed POS in early January, made the same argument and got shut down.

and cause the devs promised a eac/usd only exchange. such an exchange, if many alts would be allowed, yet only eac could be exhanged for fiat, would create so much demand, POW would be no problem
plus, if you see things are going south, you'd keep your mouth shut and not point out bad news, in order to sell all your eac you have left. then you quietly reach out to the devs, explain your worries and wait.
then nothing happens and you post here, knowing you have nothing to lose since you're not in the eac game any more.

3) yes, yes and yes and a few more yes

4) no. rather:
there are no buyers with faith in the longevity of eac cause the devs  act clueless, emotional, unprofessional and have had a rather strained relationship with the truth on several occasions.
and because sellers are not selling to buy low. they sell cause they want to leave this mess and they do not get heard

look at my posts. a shining example of what happens to people who make suggestions.

5) good for you. you know my answer to that already.
i believe in eac, as long as there is an understanding of the misjudgments the "team" made in their POW model.
the "let's not touch the code" attitude runs contrary to all successful coins.
even doge had a VERY hard fork changing base currency mechanics by abandoning the random reward.

you only do not want to touch the code, if you do not have a competent coder on staff. which they don't. hiring one costs money. money that has been spent on incryptex


I Hope that this satisfies your questions.

I will not talk about trading strategies, because that has little to do with eac.
any great trader can make just as much money with a crap coin as he can with a good one. maybe even more.


in conclusion I'd want to lament the fact that ideology, "we are the good guys" "helping" "believe!!!" and so on seems to run rampant among the fanboys and devs.

what is ignored is psychology and public appearance.

changing something creates media attention. there is no bad press. any change might bring in traders, investors or new merchants via discussions about eac in other places.

there is a direct relation to high volume and healthy coins. bring in traders, and you bring in volume. and outside trader can not sell without buying first. here there is no short selling.

any speculator has to buy vast amounts first and then he is invested and will protect his stake.

the real world economy as bad as it is has orders of magnitude more wealth in trades than in real world assets. eac could survive and thrive even with few traders and all speculators. Bitcoin had done that its first years.

there is a severe lack of knowledge about economics and related fields in this team.

eac right now is its own worst enemy