Quote from: johstacy on May 27, 2014, 03:05:00 AM

saw this...

"Coinaaa is based on Bitcoin 0.9.1 with Peercoin EMA algorithm using 30 block timespan and a block interval of 284 seconds. 87 billion Coinaaas with 0 value have been pre-mined by Coinaaa AS. There will never be created more Coinaaas.
Coinaaa has 0 in transaction fee and 0 rewards of mined blocks. Coinaaa has a centralized mining system meaning that no other party than Coinaaa AS can mine Coinaaas. This makes it impossible to attack Coinaaa with e.g. a 51% attack."

Isn't this like a bank? Why would anyone want to mine and process transactions for this currency? And if Coinaaa is just going to mine it on there own to process transactions then I don't see the difference between this an a bank.

The big difference is that all Coinaaa is backed up by real value, including being a cryptocurrency with lightning fast transactions. It has new possibilities. It is supposed to be a supplement to other cryptocurrencies and could be a nice entry point for businesses.