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Acoin wants to bring cryptocurrency back to the basics
By: The Acoin Project
But what Bitcoin also brought us was a seemingly never ending "arms race" to mine the coin. What was designed as a currency that could be well sustained for decades with just a few connected laptops has unleashed a billion dollar mining industry in which increasingly expensive mining rigs become obsolete after just 6 months or less. Energy bills for miners are also increasing exponentially.
Mining has become the major focus of the Bitcoin industry and the original purpose and true beauty of the Bitcoin system has seemingly almost been forgotten. When a new coin is developed, the first question generally is: " What do I need to mine it? How much money do I make mining the coin?"
It is time that we think of cryptocurrency as a way out of financial slavery, not to become a slave the the mining process. How many people really got rich mining Bitcoin? When you look at it, the people who became millionaires in crypto are the ones smart enough to see its true potential and bought some coins when Bitcoin was just a few cents. Miners do not become millionaires, investors do. "Investors" in mining equipment end up with expensive and useless "space heaters" after just a few weeks of use.
With Acoin, the developers of the coin wanted to bring some sanity back to the crypto world. Acoin is designed to be a coin that resembles the original Bitcoin of 2009 as much as possible. Acoin is a coin that brings back the spirit and the opportunities of the early Bitcoin.
So, how is Acoin different to achieve this? First of all, as Satoshi Nakamoto envisioned, a cryptocurrency should be rare and only a fixed amount of coins should exist (unlike the unlimited printing of paper money that is destroying our economy right now). Acoin has a fixed number of coins of around 1,2 million, making it 20x more rare than Bitcoin. Gold is more rare than silver, thus the price of gold is higher as the price of silver.
Secondly, the code has been designed to prevent a never ending race for more mining power that makes people poor, rather than rich. First of all, there are less coins to start with, so a prolonged "war of the miners" is not possible. Secondly, the code is designed in such a way as to discourage larger mining rigs or mining farms to mine Acoin. It is actually more profitable per Gh/s for a small mining rig to mine Acoin than for a multi-terahash miner.
Acoin was launched on Sept. 1st of this year with a "fair launch". No pre-mining was done and everybody in the world had (and has) the same chance and opportunity to buy Acoin. The coin is truly 100% owned by the people.
Acoin is designed by a former gold and silver commodity trader as an investment grade cryptocurrency, a solid store of value that is as close as possible to the original design and intent of Satoshi Yakamoto's Bitcoin.
Acoin is envisioned as an alternative choice to Bitcoin, with all the features and advantages of Bitcoin without the mining arms race detracting from its true purpose.
Acoin is easily traded on many major exchanges and more and more vendors are also starting to accept Acoin for anything from a Hamburger to Travel and Hotel Accommodations.
There is also a project called the Acoin Digital Village in the works where you can spend your Acoin at a fixed rate of $1US for 1 Acoin without the worry of changing exchange rates. Acoin also has strong community support with user groups coming up in several European countries, Asia and the US.
If you believe in cryptocurrency as a tool for financial survival Acoin could be one of your cryptocurrency choices.
For more information and downloads of the Acoin wallets for PC, Mac and Android visit www.acoinproject.org