E-Currency Coin ECC

Read the disclaimer before you proceed

E-Currency Coin ECC – Up to a very rough start, this coin will offer file storage, email and other services

Here is a sneak peak of the new logo (not released yet)

Here is the current one

TL:DR

This cryptocurrency is currently very flawed – the wallet has been down for weeks, mac wallet isn’t working, the website was crappy and has been revamped to a new version which still doesn’t satisfy people, there is no official facebook page, no official youtube channel, its being traded only on the shady coinexchange.io exchange and its late on the roadmap. On the other hand the community is very active, the developer is very devoted, there are plenty of good features coming, a youtube channel, a wallet fix and GUI redesign which looks amazing. A buying opportunity at a dirt-cheap price with great prospects right there. It is all I look for in a cryptocurrency – flawed, wounded, underestimated, beat down, cheap, and me being one of the few knowing how much good stuff is coming ahead.

This coin was created and maintained by a scammer several years ago. It has had a couple of names and previous logos so far. The original developer quit the project and a guy named Griffith took over the project in 2014. He has rewritten the code, cleaned up the reputation of the coin, created a new website for it, created a roadmap and chosen a niche. The coin is one of Bitcoin’s descendants, it is going to offer many decentralized cloud services such as file storage and email. There have been wallet problems for about 6 weeks now. The price had just started rising, with a peak of 0.00000048 and a steady support at around 0.00000020, when the problems with the wallet started and the only exchange the coin is traded on, coinexchange.io, put the wallet into maintenance. Fear and uncertainly, and even panic for this prolonged period, has brought the price back down as low as 4 satoshis.

Here is some insider info: we speak to Griffith on slack every day. He is quitting his day job in a month to get on ECC full time. He is a great person. The website has been revamped, we have a new logo created by the community, a brand new wallet GUI with translations to more than 20 languages, and the so long awaited wallet fixes are going to be released probably this week. There are a few other people that are very involved with the coin and help out with development and design.

I hold several million ECC tokens, bought at 20-25 satoshis. I intend to hold up to 100-300 satoshis.

Do not buy. I don’t want you to buy. I don’t want to pump it, just because I am a holder. I will tell you about the problems of the coin in a second.

Summary

As of this writing, 7th of August, the price on coinexchange.io (the only exchange that hosts the coin) has started to revive, touching 8 satoshi. The reason for this is that the developer Greg Griffith told us yesterday that the wallet fixes are finally ready and in testing. This means that probably within days, he will send the new version to the exchange and they will finally take the wallet out of maintenance for the first time in 6 weeks. Trading volume and price are expected to go back to normal. And work on the features outlined in the roadmap that is running very late, will be resumed.

Once the new wallet is finally working, applications for listing the coin on other exchanges are coming – bittrex at least, and a few videos on how to install/work the wallet and how to stake the coins.

Website: https://www.cryptounited.io/
Coinexchange.io: https://www.coinexchange.io/market/ECC/BTC
Coinmarketcap.com: https://coinmarketcap.com/currencies/eccoin/

General

    • Website: Does it look good/presentable – Looks good to me, much better than the previous one which was hideous. Many people have stated that they don’t like it even after the revamp. Many people are frustrated with the lack of an official website for the E-Currency Coin which is now only a section in the CryptoUnited website (which is the team that represents the coin)
    • Website: Does it have a roadmap for the cryptocurrency development – Yes, it is running very late, but we will be back on track soon. A buying opportunity here.
    • Website: Does it have a whitepaper – Not that I know of.
    • Website: Is the domain name and TLC good – not really, has nothing in common with the token. And its not a .com
    • Website: Is it a quick wordpress template, a 2-hour html job or a custom design with lots of work, money and thought thrown at it – It was designed and coded by one of the slack members.
    • What new does this cryptocurrency bring to the world, what problem does it solve, what does it stand for – file storage, blockchain email and more cloud services in the future.
    • How does the cryptocurrency name sound (does it sound legit and like a good brand name) I don’t like it – it is too bland and generic.
    • Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation – Proof of Stake at 25% APR as far as I know we are reaching the circulation limit, so the inflation is almost over.
    • Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/github research on them – Greg Griffith, a C++ developer and several people from slack that contribute voluntarily.
    • What is the limit on supply of coins in circulation – 24 billion. However, more than half of that is lost forever since the original developer dumped the project and many people lost their wallets, including when an exchange that the coin was previously traded on, disappeared.Code and development activity
      • Is there a link to the source code – https://github.com/Greg-Griffith/ECCoin/commits/refactor12
      • When was the last commit made, and how frequent are commits – 11 hours ago, committing almost daily
      • How many developers participate in the coding – one or two main developers and another person is helping out with the Mac wallet, several other people have worked on the wallet GUI and the website.

 

Exchanges and trading

      • Which exchanges (and how reputable they are) is the coin traded on

CoinExchange is a small and obscure exchange known for its trollbox filled with dumbasses who sheepishly pump and dump each coin someone starts shouting about in the trollbox. There is a paused application for Bittrex, which will be resumed once the wallet (daemon + gui) is finally fixed.

  • What is the daily trading volume and market cap – about 1 bitcoin/day lately, had reached 30 bitcoin at its peak.
  • Are there buy (support) or sell (resistance) walls – sell orders range from 1 to 5 bitcoin at every satoshi mark. No particular sell wall of a higher volume. Not much of a buy support, other than a 10 bitcoin order at 1 satoshi.
  • How does the chart look price has been 1 satoshi forever, then a slow revival about 2 months ago followed by a pump, settled at 20 satoshis, then wallet problems started and price has been going downhill since then, now stable at 5 satoshis and slowly reviving again with the good news.
  • Does the chart contain patterns that look like pump and dump actions or trading by bots – yes, once.
  • Has the coin spiked on one exchange after being added on another exchange – no other exchanges.
  • Is the coin listed on coinmarketcap.com – yes

 

Social

  • Is there a Bitcointalk forum Announcement thread – yes https://bitcointalk.org/index.php?topic=1006830.2380
  • How many pages is it- 120
  • What is the impression of the general topic of discussion there (are there constructive conversations about the use of the crypto or trading it on one hand, or shouts about scam or pump and dump or other worrying stuff) – mainly fear, uncertainty and doom. Scam-calling. A few people that are a bit more familiar with whats going on under the hood calming everyone down.
  • Is there a slack channel – yes https://cryptounited-public.slack.com/messages/C5RTF3MSP/
  • How many members in the slack channel – 500+
  • What is the public sentiment in the slack channel – 50/50 whining/constructive
  • Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers yes, 250+ https://twitter.com/CryptoUnited , https://twitter.com/ECurrencycoin – 1150 followers – not very good at frequent updates on ECC 
  • Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – no – the main developer doesn’t like Facebook’s policy that they own everything you post there.


Current state

  • Are there any known problems with the source code, the wallet or something else regarding the coin (transactions, mining, efficiency) – the wallet doesn’t work, the Mac wallet doesn’t compile. The website is not very popular among users and there is no clear distinction between CryptoUnited and E-Currency Coin. The coin is only being traded on one exchange. Work on the roadmap is running very late. All of these things contributing for the low low low price.
  • Is there an active development for fixes on the way – wallet fixes are on the way, a new redesigned GUI with many languages is done. A developer is working on the Mac wallet. The website will be reworked again soon afaik. There might be a separate website for ECC, I’ve heard. There will be application for Bittrex as soon as the wallet is fixed. Work on the features outlined in the roadmap is going to be resumed. All of these things contributing for a great buying opportunity and a massive gain in the future.
  • Has the wallet been under maintenance for prolonged periods of time on some/all of the exchanges Is any government planning on banning the coin (or similar coins) or putting heavy restrictions towards its use – yes, wallet down for 6 weeks. No problems with the governments other than those that all cryptos face.

Popularity and perception

  • What does a quick google search tell us about the coin – informational links, listings, announcement threads, a couple of euphoric publications that came around the time of the price spike, and an article about how ECC is going to be a competitor of Sia
  • Filter google search by recency or for “news”- what are the latest news on the coin? – here is where the bland generic name of the coin being a problem, becomes apparent – I can only see articles talking about e-currency in general, nothing specifically related to ECC
  • Are there youtube videos about the coin – yes, a multitude of videos from traders either hyping or FUDing the coin. Nothing about functionality or wallet.
  • What is the general sentiment in the comment section below the videos (constructive, fud/hype, calling out scam etc) – mixed emotions around the price spike, disappointment from the price having dropped, scam calling.
  • Is the coin associated with illegal/criminal activity or the dark web – Not at all
  • Similar cryptocurrencies/projects – Sia,


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