What is actually giving it value, is it backed by anything? Is the inflation rate static, decreasing over time, or what?
How are they verifying that folks only sign up once if not KYC? It's pretty easy to write scripts to sign up tons of accounts, using your own referral codes. EDIT: reading the white paper, I'm curious and concerned how their email-as-proxy works.
Sounds like just another MLM crypto. I've seen a lot that look just like this over the years.
What do you feel makes this one stand out?
Also, the fact that it's called ECoin in light of Mr. Robot is questionable.
lol , 99.999% of world isnt aware of Mr Robot so we are good, the slightly silly reason for picking Ecoin was it had Email at its core and its uses blockchain which bitcoin popularised :) :)
What will give it value is the number of users, and the trust the users have in it. Inflation rate is decreasing. Sign up giveaway was 1000, now 900, reducing to 500 when 1,000,000 signed up - not read further than that. I don't know how the e-mail-as-proxy works.
I just have a gut feeling about this. And the team look good: And there is no cost involved. So ... onward and upward!
https://ecoinofficial.org/team
I asked on the Telegram group where i could share John's Open Letter to Ecoin Founders, and the CEO quite promptly connected with me and requested the link.
Lets see how it pans out.
hey there , this is Ecoin Team here. When we say we designed world's first AI driven email based identity we mean it. Its not perfectly perfect but it does the job. You can't simply create tons of accounts and get free Ecoin out of the system that easily anyway ( you need to be an advanced hacker with advanced knowledge of what we are doing plus you need to beat our AI engine so its gets super tough for the $1 or $2 that we offer :) )
Ecoin is not backed by anything tangible just like Bitcoin , but it derives values by the network of its participants just like Bitcoin. However unlike Bitcoin we dont ues Pow we use EOS chain and use DPOS, Which we feel suits our objective of signing up 1 billion users much better / cheaper.
In terms of inflation, even though more coin will be released with more people joining, the token count per user keeps falling down, this helps long term investors tremendously.
As you the know the value of network grows as a square of its participants, however the supply of ecoin only as square root of the total number of its users,so in effect the price will grow much faster than most people anticiapte !
hope this helps , feel free to ask more questions !