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RE: AriseBank Exclusive Round Up! News and Telegram live channel updates
The thing I am still most curious about and what changed my mind on investing at this point, is what the minted arisecoin eACO is to be used for. How can a coin that is to vanish, be used for anything of real value? Would love some concrete examples!
Whilst I can't comment on specific uses cases, many coins including BitShares include burning to place upward price pressure (inflation) by reducing supply. In AriseBanks proposed case they have information on their website about this, eACO and ACO (bought during the sale now). "ACO are permanent crypto assets that do NOT expire. If you buy them or earn them, you own them. see https://arisecoin.com/how-it-works/
It doesn't seem the same as burning to me though. The eACO are additionaly created on top of the ACO, which after after a certain period of time expires.
That would lead to deflation not inflation
it isn't the same as burning, i apologize for any confusion. (OP here). on the arise chat Jared was discussing eACO today, it expires and has to be spent. You'll have to go their telegram channel and they can point you further about it I'm sure!
https://arisecoin.com/how-it-works/#expiring
https://t.me/arisechat
Thanks, I still have to make an account for Telegram because I'm not using my real number registered phone no. for it since that's a security issue IMPOV.