Re: [PREANN] [AEC] ALTER EGO COIN - ASIC&FPGA safe PoW GPU coin with FIAT exchange
You're right.
What I'm saying is that the main feature of this coin (other than the new algo) is not a decentralized service, but exchanging to FIAT will never be decentralized.
Doesn't worry you that if it's too easy to exchange to FIAT, miners dump this coin as soon as they mine it? Taking its value down?
In the other and it can go the other way. People buying it to cash out other currencies. Being a great way to buy Bitcoin and other Alts.
We'll see.
At least it would bring great Net hashrate if the price is right.
I like the ideia of this coin.. A LOT.
Will mine this for sure (Make the algo run cooler than darkcoin
and we have a winner)
What I'm saying is that the main feature of this coin (other than the new algo) is not a decentralized service, but exchanging to FIAT will never be decentralized.
Doesn't worry you that if it's too easy to exchange to FIAT, miners dump this coin as soon as they mine it? Taking its value down?
In the other and it can go the other way. People buying it to cash out other currencies. Being a great way to buy Bitcoin and other Alts.
We'll see.
At least it would bring great Net hashrate if the price is right.
I like the ideia of this coin.. A LOT.
Will mine this for sure (Make the algo run cooler than darkcoin
and we have a winner)The exchange is estimated to be released about 3 weeks after mining have intiated so it will not be possible to dump coins from day 1.
The exchange will have a solid reserve of AEC (we will invest ourself in the IPO to ensure that).
It is also our belief that a high number of possible IPO investors are long or short term investors, massive dumps from the inital investors would mean that they shoot themself in the foot because they would bring the AEC value below their own investment value.
Example:
- You send a transfer to us on monday with 30 confirmations needed. (not final number just for example)
- We then almost instantly put the same amount back at the open market of the exchanges AEC stock or trade them for Bitcoin. (yes we have local interested investors looking for Bitcoins, Martin works in the bank sector and that question is brought up more and more frequently.)
- We send your bank transfer on thuesday.
- We make 2% + transfer fee on what we deduct of you payment.
- Someone else might buy or invest in the AEC we put back on the market to make another conversion before we even made your transfer and we make a few % on that transaction also..
- If we keep high volumes we will be able to negotiate down our trade fee`s with exchange owner considering that plenty of people will make their Bitcoin/other Crypto>AEC conversions at that exchange.
- If we judge that current price AEC is to low we use reserves to pay out your transfer and put the AEC back on the open market when we choose to.
- Repeat the cycle and we keep making a few % on all AEC>FIAT conversions, our estimation is that it will be a almost neverending need for this service for years to come.
The Crypto>FIAT exchange is not possible to decentralise except if you not use a service like localbitcoins or similar where you trade them for cash with another person in private.
AEC mining will be conducted using several different algos, we make no promises that it will be 100% easy on your card(s).
Some of them will be very memory intensive, some will not.
/AEC team