Category Archives: Ecoin

These ecoins are great for smaller transactions

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Quark (QRK) recently increased in value over 500% in one week.

Bitcoins are great, but they are not great for all transactions.  Right now, Bitcoin processing is relatively expensive. This is on purpose to discourage Bit coin network spamming and reward BTC payment processing. The transaction fee for BTC is currently .0001 BTC, at BTC $1000 that is $.10.

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Goldcoins are up almost 100% in the last week

There is an opportunity for other coins with large volumes and small transaction fees to grab a piece of the ecoin marketplace. Three of the top contenders appear to be Infinitecoin, Goldcoin and Quarkcoin. These 3 ecoins are showing resilience on the market and have relatively strong communities behind them.

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Infintecoins recently doubled in value vs BTC 

Ecoin Club’s 3 Coin Super Pac is the best way to get all three of these Ecoins at once. The 3 Ecoin Super Pac includes 10,000 Infinitecoins, 5 Goldcoins and 5 Quarkcoins. Supplies are limited and offer may be discontinued due to volatility and demand.

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Order Now for $15 with Paypal

After you order, you will need to send us your Infinitecoin, Goldcoin and Quarkcoin address. We will help you set up your wallets if needed. Once your wallets are synced and/or active, you can expect your Ecoins in under 24 hours.

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Infinitecoin (IFC) is an open network, peer-to-peer ecoin similar to Litecoin.  However, IFC has 1142.86 times as many coins as Litecoin.  Infinitecoin is considered the penny of ecoins.  Infinitecoin and Litecoin use scrypt hash function for proof-of-work.  This is different from Bitcoins which use another function called SHA-256.  Also, the Infinitecoin network adjusts mining difficulty every hour.  For Bitcoins and Litecoins mining difficulty remains the same for longer periods of time then changes rapidly. This means that it is already very difficult to mine for Infinitecoins.

Infinite coins could have a strong future.

* Almost all Infinite Coins have already be ‘mined’. It is very difficult to get Infinite coins by mining.  You pretty much have to buy them on the open market.  This makes Infinitecoins harder to acquire and rare compared to other Ecoins like Bitcoins and Litecoins.

* Infinitecoins are used to buy small items (this is why they are sold in large numbers like 1,000,000). If more people start using Infinite Coins (IFC) for small purchases, demand could skyrocket.

* In the future, it is possible that Infinitecoins could become the NUMBER ONE Ecoin for small purchases in stores ( a few dollars). This is potentially a HUGE global market.

* The Infiintecoin market is volatile.  Currently large price swings are common.

* Getting in early on Inifinite coins could be a great thing to do!

What you do with Inifinitecoins

Infinitecoins are exchangeable for other Ecoins like Bitcoins and Litecoins.  There are many ecoin markets that exchange infinitecoins for other ecoins.  If you want to send someone a small amount of ecoins, Infinitecoins may be the best way to do it. While transferring Litecoins and Bitcoins is relatively inexpensive, transferring Infinitecoins is basically free.  This is a real value and the markets have demonstrated this by pushing up its value in Bitcoins and Litecoins.

How to get Infinitecoins

The first thing you need is an Infinitecoin specific wallet. You can download or update your IFC wallet from the Infinitecoin website for the desktop version. Most online wallets are connected to ecoin exchanges.  As of now most of those exchanges only allow intra-ecoin trading rather than USD or EUR to ecoin trading.

 

Ecoin
Ecoins are not the same thing as gold, silver, tulips or other investments.  There is something real and extra with ecoins.  When you buy ecoins you also buy the vault to store the ecoins and the tool to send or receive the ecoin.  For all other types of currency and investments you need to buy those two items separately. In a sense a dollar worth of ecoin is always worth more than a dollar worth of other currency or commodity because ecoins come with the vault and the transfer system. When you buy securities or other currencies there are additional costs associated with hold the items and transferring the items.  The transaction fees for ecoins are low and will probably only get lower over time as the ‘processing’ task becomes more widely distributed.

One way to think of Bitcoins is as the fastest growing money transfer product in history.   It is an open source project like Linux, wordpress, Andriod and a bunch of other names you know.  The only way to ‘buy’ a piece of those movements is to create a company and service layer product utilizing the open source project.  However since all ecoins trade against fiat currency or other ecoins, when you buy an ecoin you are buying a piece of the Bitcoin movement (or company if you prefer).  Buying Bitcoins is sort of like buying stock in Bitcoin.

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Is there an intrinsic value to ecoins?

There has been a lot of talk recently about the underlying value of Bitcoins and ecoins.  People are comparing them to tulips and other famous bubbles from days past.  Is there an intrinsic value to ecoins?   Ecoins are not the same thing as gold, silver, tulips or other investments. There is something real and extra with ecoins.

What are you really buying when you buy Bitcoins?

When you buy ecoins you also buy the vault to store the ecoins and the tool to send or receive the ecoin. For almost all other types of currency or investments you need to buy those two items separately.  One way to think of Bitcoins is as the fastest growing money transfer product in history.  It is an open source project like Linux, wordpress, Andriod and a bunch of other names you know. The only way to ‘buy’ a piece of those movements is to create a company and service layer product utilizing the open source project. However since all ecoins trade against fiat currency or other ecoins, when you buy an ecoin you are buying a piece of the Bitcoin movement (or company if you prefer).

Ecoins are more than ‘money’

Ecoins are more than money – they are also the way to hold and transfer the money. For almost all other types of currency, the user must engage a 3rd party or undertake additional work to get the money from A to B.  With ecoins, the mechanism to hold and move the curency is completely married to the ecoin itself. This is because the ecoin is only held by wallets with access to the block chain and only transferred by updating the block chain. If you only think of ecoins as the fasting growing financial transaction start-up in the history of the world, what is its present day value?

Holding and transferring money is a BIG business

According to David Woo, Bank of America Merrill Lynch currency analyst if you compare Bitcoin to the three money largest money exchangers Western Union, MoneyGram, and Euronet you can get a good idea of real present day value.

Let’s assume that Bitcoin becomes one of the top three players in this industry. What does that mean for Bitcoin valuation? Given Bitcoin’s supply is fixed, when one buys a Bitcoin, one is acquiring not only a medium of exchange but also an investment in the enterprise value of Bitcoin. From this point of view, Bitcoin’s market capitalization could be viewed, with a little leap of faith, as its enterprise value. With the average market capitalization of Western Union, MoneyGram and Euronet at about $4.5bn, we will add this number to the maximum market capitalization of Bitcoin’s role as a medium of exchange.

Woo  goes on to state that “Assuming Bitcoin becomes (1) a major player in both e- commerce and money transfer and (2) a significant store of value with a reputation close to silver, our fair value analysis implies a maximum market capitalization of Bitcoin of $15bn (1BTC = 1300 USD).”

Read more: http://www.businessinsider.com/bitcoin-can-be-the-new-western-union-2013-12#ixzz2miqYSrLH

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Chinese banks can’t deal in ecoins

It is 2:30 am in California and the ecoin world is ablaze with recent news out of China that banks are banned from participating in ecoin transactions. According to a statement on the central bank’s website, banks can not give pricing in Bitcoin, buy, sell or insure Bitcoin. The immediate reaction from the market is panic. However the news out of China was not nearly as bad as it seems.  It is actually unexpected good news.

Most banks can’t deal in ecoins

China is not the only country in the world to be restricting its financial institutions from participating in ecoins.  Most banks are forbidden from investing in or buying/selling  speculative, unregulated, anonymous transactions. Have you ever seen a Bitcoin option from your local bank? The Central Bank also said that individuals in China are free to buy, sell and hold ecoins as long as they take on the risk themselves.

This is great news for ecoins

Banking in China is not great, the banks pay almost no interest and the government has authority to take money out of banks. Ecoins represent a place to park wealth and transfer money in and out of the country. For the first time, the Chinese Government, through the Bank of China has nodded that its people can continue to buy, sell and trade ecoins. This is a pro individual freedom and pro ecoin position. Read more from Bloomberg News.

Here is the message as translated and edited by on Quora:

中国人民银行等五部委发布《关于防范比特币风险的通知》-中国人民银行

1) The Chinese government does not consider bitcoin to be a currency.  This is very good news as it means that bitcoin is not subject to currency restrictions.

2) Financial institutions cannot offer services in bitcoin including deposits, clearing, and market making, nor can they do things like offer loans in bitcoin.

3) Bitcoin exchanges can operate as long as the abide by the provisions of the telecommunications regulations and abide by anti-money laundering rules.  The telecom regulations are primarily censorship restrictions which are irrelevant for bitcoin exchanges.  Bitcoin exchanges will be allowed to operate as long as they get the real identities of bitcoin users.

4) The public should be made more aware of the risks of bitcoin.

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Join Ecoin Club for free

And get free bitcoins to start

Ecoin Club is a open community of Ecoin enthusiasts, investors, businesses and researchers dedicated to improving the Ecoin community.  The Ecoin revolution may be one of the most rapid and largest wealth creation and wealth redistributions in history. Ecoin Club is building a stronger ecoin community through promotion, advocacy and education.

When you join Ecoin Club for free, we will send you a few units of bitcoin.  There is a lot of learning in the beginning and it is best to start small.  Bitcoin is the best Ecoin for your start because it is the most recognized Ecoin and can be easily converted into other ecoins.   Once you receive your free bitcoin you will be able to send your bitcoin through the network and watch it in real time through the block chain.   You will also be able to exchange your bitcoin for other ecoins like litecoin, feathercoin and infinitecoin for trading, buying and selling. Complete the form below with your email and first name to join the club and get startedI

Colossus Coin

Colossus coin (COL) is an open network, open-source,  peer-to-peer (P2P) Internet currency. It runs off the popular script protocol similar to Litecoins, which gives it stability, speed and accessibility to GPU ecoin miners.  Colossuscoin (COL) was announced on 22 August 2013 on bitcointalk.org – Forum by muddafudda. It is currently a top 50 ecoin by market cap.  A lot of Colossus coins have already been mined as is relatively difficult to acquire by mining. As of Dec 2013, colossuscoin is traded on multiple exchanges primarily for other ecoins like Bitcoin, Litecoin and Feathercoin. Most of these exchanges require you to trade other ecoins for Colossuscoins.  The best way to get Colossus coins maybe to buy them from a dealer or trade for them on an exchange. Colossuscoin is a relatively new coin without much media or news coverage. Most information is on the colossuscoin forum, Facebook, Twitter and the Colossuscoin website.

What you do with Colossuscoin

Colossus coins are exchangeable for other Ecoins like Bitcoins and Litecoins.  There are many ecoin markets that exchange Colossuscoins for other ecoins.  If you want to send someone a small amount of ecoins, Colossuscoins is one of the best ways to do it. While transferring Litecoins and Bitcoins is relatively inexpensive, transferring Colossus coins are even cheaper.

How to get Colossuscoins

The first thing you need is a colossuscoin specific wallet. If you want to receive, hold or send Colossuscoins, you need a Colossuscoin wallet. Most wallet options are free. An online wallet will require you to create an account and an offline wallet requires a download. You can use either an online Colossuscoin wallet available at the Colossus coin website, or at offline Colossuscoin wallet available at ecoin exchanges like Cryptsy or Bter . You will be able to track Colossus coin transactions on the colossuscoin Block Chain.  As of now most of those exchanges only allow intra-ecoin trading rather than USD or EUR to ecoin trading for COL.

Generally you can not buy colussuscoins with cash or credit.  You need to exchange them for other ecoins (typically Litecoins or Bitcoins) in ecoin exchanges. Once exception is our colossuscoin starter kit.

(1) Start downloading your colossuscoin wallet from the colossuscoin website.  The wallet will need to sync with the blockchain.  This will take sometime to update.  While you are waiting for syncing.

(2) Order the Ecoin Club Colossuscoin starter kit including 10,000 Colussuscoins, and bonus colussuscoins for $5 with paypal.

(3) You will receive a confirmation email, reply to that confirmation email with your Colussuscoin wallet address.

(4) Your security and satisfaction are paramount to us.  We will transfer you a small test amount of Colussus coin to your wallet, once you confirm that you received the test amount, we will send the rest of your starter Colossuscoins.

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Infinitecoins

bitcoin-hacker_photobucketEcoin Insurance

When you buy or sell an Ecoin you can use escrow services like Local Bitcoin to increase the likelihood that you will get a fair trade. If a Bitcoin (or other Ecoin) is stolen it is almost impossible to get it back. There is no buyer guarantee, charge back or refund option. Also there is no way to delete the stolen Bitcoin and replace it.  Basically the victim is without recourse.

Hard to hide stolen Ecoins

Unlike cars, jewelry and cash, it is extremely difficult, if not impossible to hide coins from the world and still use them. This is because of the peer to peer block chain. A thief is attempting to do it right now with 96,000 stolen bitcoins. You can actually watch it happen real time on the block chain. The block chain records every Ecoin transaction that has ever occurred.  The entire world knows the exact network location (Bitcoin Wallet) of the stolen Ecoin. The entire world also knows exactly when that Bitcoin or portion of that Bitcoin is moved on the network from one Wallet to another.

Tagging stolen Ecoins

Because every ecoin transaction is recorded, the ecoin can also be tagged as stolen. The tag could follow the stolen Bitcoin around the network. The stolen ecoin index could be available to the entire peer to peer network and ecoin clients could look at the index to determine if a coin that they received is stolen.

How Bitcoin and Ecoin insurance could work

Ecoin holders would pay the insurance premiums with ecoins the same way we buy insurance now. When a ecoin is stolen the victim would make a claim against the insurance similar to claims against ordinary theft insurance. Once the insurer confirms that the coin has been legitimately stolen, the insurer would replace the ecoin. The insurer would become the rightful owner of the stolen ecoins.

The insurer could offer a bounty for the return of the stolen ecoins. The first time the coin is traded or held in an online wallet it would be identified as stolen and could be transferred back to the insurer for the bounty. Once the ecoin is back in the hands of the rightful owner, the stolen tag could be removed and the ecoin recirculated.

 

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The Ecoin revolution may very well be the fastest and largest wealth redistribution in the history of the world.  Currently millions of computers are mining for Ecoins.  Most of the computers powerful enough to mine Ecoins are owned by the wealthiest people and organizations in the world.    Can we use mining to help solve world poverty?

Mining Ecoins is expensive

All Ecoins begin their life when they are mined by a computer.  Effective computer mining requires a great deal of computing horsepower and energy.  If you do not have a powerful computer and a cost effective power supply, you will not be able to mine Ecoins.  Unfortunately, this describes most of the people living in the world.

Most of the world is disenfranchised

Right now there are about 2B computers connected to the Internet.  Probably less than 10% of those computers can mine Ecoins effectively because of the power and hardware required.  There are over 6B cell phones in the world.  How can get those 6B cell phone users participate in Ecoin mining?  One idea is an Ecoin with mining opportunities for even the most basic cellphone.  An Ecoin where a  percentage of the coins are reserved for cellphone mining only.  For example, a Ecoin that allows cellphone users to manually enter number sequences or very advanced captchas into a cellphone to mine for coins.  While there are some technical challenges, it can be done.

Doing well, doing good

The long term value of Ecoins is directly related to the amount of real Ecoin buying and selling transactions.  For now, most of the world is out of the game.  If you believe that the Ecoin revolution is a wealth redistribution, this project is both a market opportunity and an important economic justice project.  This is our generation’s opportunity to do well while we do good; and set the stage for global wealth for the next 100 years or more.    We run Ecoin club.  We have the technical talent to accomplish this task.  You can get involved now by contributing to the cause and staying tuned.

How this could be done

The coin would probably need to have some percentage of the coins to be reserved for human mining instead of just machine mining.  It would be best if the human task is actually trying to solve real world problems like Gamer’s did for protein sequencing.

One of the challenges with the current mining ecosystem is that the coin creators would have to determine the human mining task ahead of time once, for the entire life of the coin.  This may not work because over time the human task may become irrelevant or ‘solved’.  It should be possible to crowd source the nomination and voting of the human task that should be rewarded with coins and also change that task over time.

Most coins are created with milestones that adjust the coin award per block over time.  For example, the Bitcoin award per solved block started at 50 coins per block at the first block solved, and will eventual reduce to 6 Bitcoins per block when block 630000 is solved.   The human mining task could use the same type of supply control and in addition to a reduction of the coins per block, the task could change at certain block milestones.  The human task for the upcoming block could be nominated and voted on by the coin community ahead of the block and adjust automatically when the milestone block is reached.

Want to support this project?

BTC address: 16wG6iKuJ8G9Eohjy1kxQgsABVFHRC3Syh

LTC address: LWWfKi8dd3BMMqd76HuRV9849jwYXoo5mD

What is Ecoin Mining

bitcoin-mining-rigMining Bitcoins can be compared to mining minerals like gold, copper silver etc.  The way you mine gold is my digging in the ground, looking for something shiny, then testing to make sure that it is gold.  When you mine Ecoins, your shovel is a computer doing math and your testing kit is all the other computers on the Ecoin peer to peer network.  Instead of digging in the dirt to find something that looks like a Ecoin, your computer tries to solve a difficult math problem.  The math problem that has many correct answers, but not an infinite number of answers.

Since there is a finite number of correct answers to the math problem, as Ecoins are discovered there are less to find.

Mining computers requires a great deal of computing horsepower.  If you do not have a powerful computer and a cost effective power supply, you will not be able to mine Ecoins.  Unfortunately, this describes most of the people living in the world.