Something to remember with the adoptability curve of crypto currencies and generally any idea that becomes self sustaining. I have played BTC’s like a fiddle and will continue to do so however I am not blind to see the cryptographic proof of work models should be the overseer for all property rights be it ownerships, deeds or properties or currencies. The antiquated system of trusting someone who has been placed in a position of power through nepotism, privileged upbringing or luck is over. Fallible men should be not in central control over ownership of anything. An organization to verify and provide for the authenticity of Gold, a central registry to monitor paper money, a municipal property department to account for your property. All ancient, wasteful, inefficient and crooked systems.
Instead a decentralized cryptographic proof such as what exists with many crypto-currencies today is undoubtedly superior and now inevitable. Many organizations are going to try to create their own cryptographic currencies while retaining ownership in some way – they will eventually die as well. JPM has tried for 14 years, among many others currently rushing their programs though. The antiquated fiat system will not die with out a fight and you can expect newsworthy headlines to influence trading in some form or aspect. Rest assured however there is only one way to cause a crypto currency to fail and that is a fork in the road or a double spend due to inadequate mining.
So to demystify the trading irregularities of a new crypto currency regard the psychology behind price spikes where ownership becomes centralized with the few risk takers who would like to take the spike through to conclusion as others abandon ship through profits or fear. As ownership becomes concentrated on the “momentum/greedy” players, volatility rises as the distribution is dwindled. I will tell you that the most valuable time during the adoptability curve of a crypto currency lies in the months where distribution occurs amongst a large demographic with little volatility and little price movement – quite the opposite to conventional wisdom or intuition. Ownership of “shares” are diversified amongst risk tolerances, preparing for the next spike in the adoptability curve and the cycle repeats itself until the currency will eventually find its niche amongst the real players or it succumbs to the proverbial pump and dump.
EAC’s are about to experience this price movement and I am part of them. I believe in the brand, the developer and the development team. With proper marketing and conscious this crypto-currency can fill a retail niche beyond any other. Its brand is identifiable to the masses and they have already gained an incredible amount of credibility with the minuscule amount of pre-mine to fund operations and development. There is no doubt after 8 days that EarthCoin is here to stay boys and girls and I for one am motivated to promote it into the stratosphere. Incredible things are coming for this crypto-currency but do not be fooled by its growth fits and starts. The financial system we live in is bleeding and the wound can not be sealed, it is fatal. A new phoenix has risen for a new era.
Never forget there is more than enough food to feed everyone on the planet. The problem lies in the ownership of the US Dollars to buy that food! That game is coming to and end.
Great job EarthCoin team! Stay the course, your fate will find you, you do not have to look for it.
- by WesandEAC
This is an opinion originally published on bitcointalk.org. Let us know your viewpoint in the comments below.