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1  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: [Walleting.Services] AUTOMATED Fork Extractions: BCX BTG BCD BTF SBTC BCH + MORE on: January 24, 2018, 01:33:23 AM
Even though I screwed up and used my same wallet to dig my forked coins, Walleting Services were outstanding in getting the coins moved out of my segwit wallet.

Thanks for the awesome service, I plan on using it again for upcoming forks.
2  Alternate cryptocurrencies / Announcements (Altcoins) / Re: WAVES | Ultimate crypto-tokens blockchain platform | WEEKLY AIRDROPS !!! on: January 23, 2018, 01:05:20 PM
Can someone point me out is there active ICO running on Waves platform ? What was so far most successful ICO of Waves ? I see benefit of waves the speed and cost of transactions, but every ICO tend to have ERC20 tokens only based on etherium network. Etherium now overloaded all the time and I think it's time for other ICO platforms to step afront.

What you don't want your monetary Ethereum transaction competing with a new breed of Crypto Kitty? /sarcasm Smiley
3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: WAVES | Ultimate crypto-tokens blockchain platform | WEEKLY AIRDROPS !!! on: January 03, 2018, 04:13:09 PM
hi
Who knows how many COINS a node of Waves needs

10k waves for an node

It's 1k now, I set up a node, but at 1k you're looking at close to 1 month to generate a block so its not worth it. I went back to leasing.
4  Alternate cryptocurrencies / Announcements (Altcoins) / Re: WAVES | Ultimate crypto-tokens blockchain platform | WEEKLY AIRDROPS !!! on: December 29, 2017, 08:29:28 PM
how long does it take for a bitcoin withdrawl from the waves wallet take? not seeing it in cryptopia yet

It can take a while. There are currently 173,000+ unconfirmed transactions on the Bitcoin blockchain at the moment:

https://blockchain.info/unconfirmed-transactions
5  Alternate cryptocurrencies / Mining (Altcoins) / Re: Remote access programs ? on: September 05, 2017, 04:15:52 PM
I wrote a PowerShell script to monitor and restart my miners if they become unresponsive. It's only for ZCASH, I thought about publishing it if there was any real interests in it.

It sends an email when the miner became unresponsive, provides the hostname of the machine and will attempt to restart the miner automatically.

I know not technically a remote access program, but at least in the 6 months I've been running it, I've had it restart the miner 3 times without fail.

Claymores remote manager , ETHman have all this function and is included with the miner program good for all coins you can mine with claymores miners Smiley

That it does, but I like having a different process monitor it. Just in case. Smiley
6  Alternate cryptocurrencies / Mining (Altcoins) / Re: Remote access programs ? on: September 05, 2017, 04:03:25 PM
I wrote a PowerShell script to monitor and restart my miners if they become unresponsive. It's only for ZCASH, I thought about publishing it if there was any real interests in it.

It sends an email when the miner became unresponsive, provides the hostname of the machine and will attempt to restart the miner automatically.

I know not technically a remote access program, but at least in the 6 months I've been running it, I've had it restart the miner 3 times without fail.
7  Bitcoin / Bitcoin Discussion / Noticing Bitcoin oddities while trading? on: July 24, 2014, 02:48:35 AM
A friend of mine just started blog as he noticed the volume drop off for the major exchanges. (OKcoin, btc-e, etc.)

If you've noticed it as well, feel free to post your theories here:

http://www.isbitcoinover.com/is-bitcoin-over-where-has-the-volume-gone/

8  Economy / Services / Custom Imaging And Data Recovery Service on: May 22, 2014, 06:42:27 PM
I can make you a customized Windows 7 USB deployable image or burnable ISO. It will include all system based, (i.e. dell, HP, Lenovo, etc.) hardware drivers. Specific Video Cards drivers will be on the Desktop after installation for you to install. A custom image will run you 0.4 BTC. If you want it USB deployable, will run you more as I will need to purchase the USB and ship it to you. All other images can be downloaded off my FTP server.

My Windows 7 source is directly from Microsoft. Professional or Ultimate(32 or 64 bit)

Windows 7 Activation will be up to you. I will assume you will have an activation key KMS or MAC.

I also do data recovery as a hobby, I have experience with FAT32, NTFS, and some EXT2 file systems. As long as the platters are spinning, and there isn't any hardware malfunction I am generally able to recover data. Data recovery will run you 0.2 BTC per drive no matter how many hours it takes. If I'm not able to recover any data I'll return you the drive at no cost.

9  Economy / Trading Discussion / Re: Anyone use btcrobot.com? on: April 25, 2014, 02:20:15 PM
Quote
I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using.

It's simply not true. Random? come on, man...

Not true? Who are you kidding here? I lost 1.68 BTC because of your bot. Yet I got the same response when I voiced my concerns Blah blah blah battle tested, blah blah blah.

I'll ask you flat out, what trading strategy are you using for your bot to execute trading decisions? Can we view the source code?

The bot traded POORLY during the month it was running UP in price. I feel sorry for the poor bastards using your bot in a down turn. It would perform micro buys and sells in RANDOM intervals and most of the time trading in opposite directions of the trends. WTF is that about?

That is EXACTLY why I got a refund. If I waited the full 90 days for your bot, I would of been flat broke.


Does your Litecoin bot also derive it's trading logic from your bitcoin bot? If so I would advise the users here stay away from that one as well.

I've recouped my losses coding my OWN bot. While I feel bad for your customers, I do keep an eye out to trade against your bot.

Same for me. I had the bot running for 2 weeks and the trades seemed almost random and counter trend. Selling at lower prices, buying at higher prices. In just a few days I lost approx. 100 USD. The bot made me a few dollars (literally) when when BTC was going up and lost serious money in just a few days when BTC dropped. I also asked for a refund and got a blahblah story twice. Then I asked for a refund at clickbetter which processed the payment and received confirmation I will get my money returned.

Sorry to hear, but lesson learned I suppose. I don't trade with bots where I can't see the source code or the trading logic anymore.
10  Economy / Trading Discussion / Re: Anyone use btcrobot.com? on: April 09, 2014, 07:55:22 PM
Hi everyone. This is my post in this forum and thus, as my profile rating may be, what I say may probably be ignored, but anyways here I go.

I bought myself a Gold License for BTC Robot on the 31st of March 2014 and and proceed to record my BTC Robot's performance through a blog that I created. The purpose is to see if:
  • If it works
  • Display the performance of the BTC Robot, complete with screenshots and images for easy reference
  • If it works or not, at least this will be a feasible and clear reference to whomsoever that may be interested in buying a license

So there you have it. Please check it via http://morrisbtcrobot.blogspot.com/. Thank you for your time and if you find my blog helpful, please help me spread the news about it so that many more people may benefit from my fortune/misfortune and decide on a well-informed conclusion.

Once again, thank you for reading. Smiley

Definitely a solid test, I would recommend you cut your losses or you're going to be out of coin before the 50th day. BTCRobot is garbage. The btcrobot creators account is the only one that seems to grow which fuels my speculation that it performs a man in the middle attack to "buy" your bitcoins on the cheap. You buy high, and sell low, they buy low and sell high against their "customers".

Obviously I have no proof but the results you display are consistent across this thread as well as many others, and when they show their personal account, it always seems to grow, while anyone who has used their bot btc stash seems to shrink. How can that be when just about everyone else here in this thread that has used it has suffered losses. Only logical conclusion I can come up with is what I just detailed above.

Cut your losses man, I hate to see anyone getting ripped off by scammers.
11  Economy / Services / Re: Selling CryptoTrader.org account. 0.16 BTC. on: March 27, 2014, 03:27:40 AM
All depends on what you're wanting to do. If you check out the user forums there are a lot of free bots as well as paid for bots. Thanasis is a hell of a bot coder and gives away all his bots for free. Here are his latest collection pack of bots https://cryptotrader.org/topics/913623/thanasis-collection-pack If you want you can teach yourself coffee script and back test as well as trade your own strategies. It's a pretty nice site. I have no complaints with it, and would continue using it if I had the time to keep up with bot development as well as different strategies. You can back test any strategy to see if it might be profitable. As they say past performance doesn't equal future returns. But back testing is a good indicator on how the bot will perform with different markets (bull / bear / flat)

I ran this one for about 2 weeks on a simulation as it did well in back testing and didn't do too bad in live simulation either. Just never did live trading with it. That was around the time my work schedule changed unexpectedly and don't have the time to keep up with it unfortunately.

https://cryptotrader.org/topics/138164/sungkhum-stochrsi-macd-mfi-bot

The account I am selling has 4 months and some change left on it. I just did the math with the subscription and I've reduced the price to 0.16 btc. Sorry cost me .375 as I paid for a 6 month PRO subscription when I first purchased the subscription.

EDIT: Sorry all, it doesn't appear that Thanasis's bots are free anymore. Looks like he is charging for them now. I really apologize about that.
12  Economy / Services / Selling CryptoTrader.org account. 0.16 BTC on: March 26, 2014, 01:26:18 PM
I am selling my Cryptotrader.org account. It has an expiration date of 08/02/2014 for 0.16 btc. I don't have the time to actively develop and monitor the bots as my schedule has changed at work. So if you do and want to get an account with 4 months left of service, please PM if interested.
13  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: [PROMO] C.A.T. 1.0 Offer! Last 6 Copies@0.8 (Without Ref Code) on: March 18, 2014, 02:21:04 PM
I'll buy one copy. Sending some BTC your way now.

14  Economy / Trading Discussion / Re: Anyone use btcrobot.com? on: February 20, 2014, 10:39:35 PM
Quote
I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using.

It's simply not true. Random? come on, man...

Not true? Who are you kidding here? I lost 1.68 BTC because of your bot. Yet I got the same response when I voiced my concerns Blah blah blah battle tested, blah blah blah.

I'll ask you flat out, what trading strategy are you using for your bot to execute trading decisions? Can we view the source code?

The bot traded POORLY during the month it was running UP in price. I feel sorry for the poor bastards using your bot in a down turn. It would perform micro buys and sells in RANDOM intervals and most of the time trading in opposite directions of the trends. WTF is that about?

That is EXACTLY why I got a refund. If I waited the full 90 days for your bot, I would of been flat broke.


Does your Litecoin bot also derive it's trading logic from your bitcoin bot? If so I would advise the users here stay away from that one as well.

I've recouped my losses coding my OWN bot. While I feel bad for your customers, I do keep an eye out to trade against your bot.
15  Economy / Trading Discussion / Re: Anyone use btcrobot.com? on: February 17, 2014, 02:48:13 PM
I'm thinking about using this only when the market is going down. It appears to lose BTC if market is going up in the short term. Also, maybe it's important to adjust the trading strategy based on the the market condition. Right now the market is very volatile, and I am wondering if the short-term strategy works the best in that case. If the market is flat and boring, there there is no point trading high frequency with a bot. I would be better off doing it manually, turtle-trader style.

Does anyone have experience in the variable efficacy of this product?

Granted it's your money (btc) I think most of us would advise you to stay away from this product. I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using. Like someone mentioned, it very well could be a man in the middle attack to steal bitcoins from traders. I honestly don't know, and without seeing the bots source code it's too difficult to tell.

They've admitted that they are using Ruby to code this bot, which is really a piss poor language to be using for algorithmic trading. Python, or hell even C++ and C# would be a better alternative than Ruby.

Best advice I can give, and this is from experience with a pretty good size loss is stay the hell away from this bot.
16  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14 on: February 08, 2014, 11:05:33 PM
So it's worth 1 euro per coin because you say so?

Not quite sure you understand how market pricing works.

1 Euro is worth what it is because millions upon million of people, as well as major financial institutions worth billions of Euros, Dollars, Pounds, Yen, you name it- say it is.

How will you make everyone agree 1 Major Piece is with 1 Euro? I hear a crazy idea with nothing to back it up.

While this is a valid argument it does not necessarily fit in to this idea quite the way you envision it. While it is true that we are relying on a bit of faith from people to believe the coin is worth what we say it is worth it is no different than a person having to put in faith that their dollar will actually mean something or that their Yen will mean something. By saying that it will be worth one euro we have already planned for part of this faith issue. Also on the issue of changing market value we have seen that this issue cannot arise because the true value will always be that of a euro. It’s not like gold or oil were the price can be arbitrarily inflated or deflated based on faith and amount of product. Also while people can hope and believe that their one dollar is actually worth more than it is it is only worth what it is at that point and time. So while people may say that the Major Piece is worth more or less then the euro they are actually wrong because it has already been decided that the value will only fluctuate directly with the value of the Euro.

Decided by whom?  You really have no understanding of how basic economics works.  You can't have something worth something else simply because you "decided" and "dictated" its going to be that.  People assess value on something because it is either backed something else (dollar is backed by US economy, Euro is backed by Eurozone, meaning within those regions I can use dollar and euro as a means of exchange for service or products) or based on speculation which 100% of crypto world fall into as none of the crypto is backed by any economy.  Speculation = wild price fluctuation which is what you are not aiming for.  At the very least, many of the other coins are driven by speculation around a new type of encryption, code, feature, future utility and even value of meme.  Yours has absolutely none of that except for the fact that you are going to somehow magically will everyone in the world to value your coin at 1 euro and not just make them will it at 1 euro, but make them will it at 1 euro forever.  As I also mentioned before, not even fiat currencies stay stable and also are subject to fluctuations and teams of economists, governments do their best to try minimize this fluctuation (to prevent widespread panic and bank runs) but will never be able to completely stop it as it is DEPENDENT ON THE VALUE PEOPLE ASSESS TO IT AND ARE WILLING TO TRADE THEIR GOODS AND SERVICES PER THAT VALUE ASSESSED.   Unless you've come with some mind control technique, this is impossible.  Why is this hard to understand!


What I bolded in what you said. Euro works because you can exchange it for a product. Well if Major Piece can be used to trade for products on line then it should be able to work under the same concept.

If you can figure out how to do that, then by all means.  After 5 years, Bitcoin is just beginning to become accepted by some retailers, however, this is still a very small fraction (less than .000001 %) and the price is still fluctuating wildly. 

What the op is proposing is an impossibility that no human being has ever achieved unless he comes up with a mind control technique to brain wash the masses into valuing this his altcoin at a constant 1 Euro no matter what based on the simple fact that he said so.  Why stop there?  Let's peg to a bar of gold simply because we say so.  He fails to understand the principles of supply and demand and market valuation to which every single currency is subject to, fiat or crypto.  It always has been that way and it will always continue to be that way as long as human beings exist.   


^ This

Like I said in a previous most, the law of supply and demand is a brutal teacher. The dev's of this coin will discover this very quickly. Without 100% premine, or the dev(s) having 1 Billion Euro to back this digital currency it's just not going to happen. Even the valuations of precious metal currencies fluctuated with the discovery of new ore veins and extraction. The Comstock Lode of 1859 dropped the value of silver by a few percentage points. I can't remember exactly by how much, but it decreased the value because of how large it was, and how much silver was being pulled out of it.

Sorry OP, but without you actually having 1 billion euro to back this currency the peg your setting it at just isn't going to stay. The market will determine the value of your coin. Because without you actually promising the miners, and those who actually cash out and expect euro's won't be able to get it. The currency valuation will collapse. That IS the reason Nixon severed the gold standard in 1971 in the United States. France was demanding gold for all the dollars they held. Since the Federal Reserve had debased the currency it could no longer maintain the 35 dollar per ounce peg. So something had to give, and Nixon said no more. In reality that's called a default, but since the U.S. had a global currency everyone continued to use it, even though it was no longer as good as gold. The same will happen to your currency. No euro remittance, no true euro peg. Simple as that.
17  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14 on: February 08, 2014, 03:33:03 AM
So who is holding the 1,000,000,000 Euros to back it?  Cheesy

Who is holding the gold to back up the USD? Who is holding the funds to back up Bitcoins?

How exactly are you going to keep the price at 1 euro?



As my explanation above details, he(they?) won't be able too. It'll be a speculative vehicle like all other crypto's. With no demand outside of alternative crypto exchanges, he/they will never maintain stability. Law of Supply and Demand is a brutal teacher. If he/they release the coin as is currently planned, he/they will see really quickly the law of supply and demand will take hold and if there is no backing, and no demand for his/their currency it will collapse.

He/they has no understanding of currency stability or backing at all.. It's pretty apparent.

There hasn't been gold backing the USD since the Nixon Shock of 1971 Nixon severed the gold standard and replaced it with the Petro Dollar.

Ever since then the dollar only has value because OPEC only accepts dollars for their oil. If OPEC were to take a basket of currencies other than the dollar, the dollar would collapse over night. The ONLY thing that gives the dollar value is the DEMAND for oil. It's a great scheme, but it's doomed to failure.

If the devs get this into exchanges at a flat rate and allow it to be traded with other alt-coins I could see it working, but that's the only way. I think it would provide a lot of benefits and people would do it. There are so many advantages. I also like his giving some one 3 quarters for a dollar does not crash the value of the dollar example.

You say "if there is no demand" What if there is a large demand. Because there is a large demand for a stable coin. Bitcoin took forever to take off but it did slowly one person at a time. Why wouldn't that be okay with this?

The dollar = oil. What about Euros?

Also I don't think this is meant to be different than the Euro to the poster above this one. I think it's meant to be an online version of the Euro.

EDIT: I don't understand why everyone keeps saying there's no demand. How do you know? I personally think there is a HUGE demand for a stable coin. Maybe it won't have quite a lot at first but it may grow.

It won't work due to person to person transactions, or even exchanges the dev doesn't have a relationship or an agreement with. For example, say I take all 10Mh and mine this coin during release. I decide to undercut the market by selling a large quantity at half a euro. Yes, a small transaction won't kill the market, but large transactions at less than value will destroy a currency. If you want or need any proof look at Argentina and what they've gone through for the past decade with their unstable currency.

There is a huge demand for a stable coin, but backing it with a centrally controlled infinitely inflating currency is not the answer. If he personally had 1 Billion Euro to back each individual coin, then yes, he could maintain parity with the Euro. But if not, it's just going to float like all fiat currencies do. The market will determine the value whether you or the dev like it or not. The ONLY stable currencies were those backed by precious metals. Unfortunately if you back a digital currency, you're setting yourself up for failure as we know central banks don't really care for competition. They'll use the excuse of bullshit money laundering laws to close down the precious metal warehouse, confiscate all precious metals, and for your trouble, send you to prison for a couple of decades.

I know there is no demand, because no one has asked for a digital currency backed by a fiat currency. Where is the demand coming from that is going to maintain the parity price the dev is advocating for? What store can I spend this digital currency in? Who is going to pay me thousands of Euro's if I decide to cash out? The moment you can't maintain that parity which you WON'T because the Dev doesn't have 1 billion Euro, and neither do the exchanges to maintain that price the currency will depreciate in value.

This is simple economics. What aren't you getting?
18  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14 on: February 07, 2014, 09:13:34 PM
So who is holding the 1,000,000,000 Euros to back it?  Cheesy

Who is holding the gold to back up the USD? Who is holding the funds to back up Bitcoins?

How exactly are you going to keep the price at 1 euro?



As my explanation above details, he(they?) won't be able too. It'll be a speculative vehicle like all other crypto's. With no demand outside of alternative crypto exchanges, he/they will never maintain stability. Law of Supply and Demand is a brutal teacher. If he/they release the coin as is currently planned, he/they will see really quickly the law of supply and demand will take hold and if there is no backing, and no demand for his/their currency it will collapse.

He/they has no understanding of currency stability or backing at all.. It's pretty apparent.

There hasn't been gold backing the USD since the Nixon Shock of 1971 Nixon severed the gold standard and replaced it with the Petro Dollar.

Ever since then the dollar only has value because OPEC only accepts dollars for their oil. If OPEC were to take a basket of currencies other than the dollar, the dollar would collapse over night. The ONLY thing that gives the dollar value is the DEMAND for oil. It's a great scheme, but it's doomed to failure.
19  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14 on: February 07, 2014, 08:58:32 PM
The idea we have here is actually quite simple but some people appear to be over thinking it.

How is using market dynamics and PURE FACTS over thinking your coin will never maintain parity with the Euro? You want to wager some BTC on that?

Quote
While we say that we are designing a stable currency, we are not designing a currency that is completely stable, that would most likely be impossible. What we are essentially doing is designing an online version of the Euro. This coin would rise and fall the way the Euro does, meaning that it would be stable in conjunction with the Euro.

This is ABSOLUTELY impossible because once you release it into the wild, you will have 0 control over it. The price will be a speculative vehicle like all other crypto currencies. Without a Government or Central Bank declaring and backing each individual coin you'll never maintain price parity, or even stability for that matter. It's simple economics. What part of this aren't you getting? This isn't over thinking, this is reality. You can declare it 1 Euro, but once it gets to an exchange outside of your control people will arbitrage the shit out of it dropping the price to what the MARKET says it's worth. If you can figure out a way to control the markets, you could get a job at any central bank or government the world over.

Quote
This gives the coin more stability than say a Bit Coin, because the Major Piece has a tangible equivalent while the Bit Coin is based solely on the amount of faith people put into.

No it doesn't, that's speculation on your part. Since the coin hasn't been released the market hasn't determined what the price of your coin is worth. Backing a crypto currency that is limited in supply and decentralized in nature with a fiat currency that is centrally controlled and inflating on a daily basis is not only haphazard, it's also short sighted in regards to currency stability. That's like mixing oil and water and calling the solution stable when the oil floats on top of the water.

Quote
The fact that it is based solely on faith, and not backed by either tangible assets or a legitimate government means that it is prone to severe fluctuations in value, which can be seen by its decrease in value when China said it would not accept it.

You know next to nothing about economics. The reason the price rose and fell in Bitcoin was because of (here take a note) LIQUIDITY. Liquidity in an emerging market is a major factor in price discovery. What you saw with the sharp drop was liquidity drying up and not enough funds to bid up the price further so it contracted to reflect the lack of liquidity in the market. It wasn't because of bitcoin has no backing that caused it, it was payment processors cutting the source of liquidity.

Quote
While no currency paper or electronic is stable in accordance to other currencies this coin is much more stable in value to real world hard money, by having its value tied to a tangible currency and not merely to faith. Also having this currency may potentially drive up the value of the Euro and in turn drive up the value of the Major Piece.

No it isn't, and no it won't.. Once you release it you'll notice it within a number of days that the price will be less than a euro. How the hell can it rise against the euro when 1.) no one will accept it outside of a alternative crypto currency exchange, and 2.) No demand for it outside of the exchanges? This is not over thinking this coin, this is the reality you face and will NEVER be able to guarantee parity with the Euro.

Quote
dE_logics you are correct. 1,000,000,000 pieces was just a general idea but will be replaced with the number of Euro in circulation.

So how is this different from the Euro then? Instead we'll have a decentralized infinitely inflating crypto currency? Gee where do I sign up to mine this?  Roll Eyes
20  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14 on: February 05, 2014, 04:29:11 PM
Quote
If the devs can manage to get an agreement with some exchanges to put it on for non-variable amount then it couldn't change.

That won't work either, private exchanges (person to person, or alternative exchanges as well) can decrease the value of coin determined by supply and demand. Look at BTC now with the different USD/BTC exchanges. The value can sometimes be as much as 200 U.S. dollar from BTC-e and MtGox.

Quote
The value of the Euro, Dollar etc. is only what it is because they say it is and we believe it.

That's because we're forced to "believe" it due to legal tender laws. With Legal tender laws you have an unintended consequence called Gresham's law takes effect. Basically bad money chases good money out of the system. As an example, try finding a 90% silver quarter in circulation now. People horde it because they know its worth far more than the quarter it represents in melt value. In theory this coin could run into the same problem due to the currency that will be used to supposedly back it's value. We all know that central banks only have a hammer and every thing is a nail. Meaning all they know how to do is inflate their currency for whatever possible problem comes along. Say this coin goes forward as is, the euro will continue to be inflated next to the dollar because the end of fiat currencies is inevitable. It's impossible to keep a system of debt going forever, you can't print a currency at interest and not print the interest to pay it. To me, that's the biggest flaw of this coin is backing it with a known inflating currency while limiting the supply of the coin. Is the dev, or someone going to continue watching the Forex looking for value deviations and adjust accordingly? Yeah a Euro is a Euro to the guys and gals out using them. But for Forex traders a Euro is worth a $1.35 one day, or $1.42 the next day. It's value does fluctuate just not as much as cryptos.

Quote
But if you think about it the value will change. The value of the coin changes on the price of the Euro and if you placed this against other coins on cryptcy I could see this working. That's the only way though, along with strong supporters.

Due to person to person transactions, or alternative exchanges I don't see how any exchange can keep the value of the coin to where the dev's of this coin would like them to be. Without the Dev's having 1,000,000,000 EUR to back each coin, or 100% premine they will never be able to keep the value of the coin for their intended target. The law of supply and demand mandate it. It would do the same to national currencies if central banks didn't inflate to make up for the rise and fall in interest rates.
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