Bitbar is a rather unique altcoin that could do very well in the future!

All these useless PonZicoins make people greedy and crazy.
The community needs a true and useful cryptocurrency.

eMunie has Great features and an ethical concept.
I just hope what it promises is what it delivers..

If I understand correctly, (and Im sure Fuseleer will correct me otherwise) the price is not set in stone or fixed as such, rather the protocol is designed to keep the price stable by adjusting the supply of new currency to fit the demand.

High demand? The system creates more eMu: the price stays steady.

Low demand? The system lowers the rate of new eMu creation.

The price is allowed to fluctuate in small amounts day by day but is prevented from boom/bust.


eid

I sell 1M Nxt for 1BTC, up to 5M Nxt.

Originally (like 6 months ago) a 20-80 split was the idea....since then though we've done quite a bit of work with various models and analysis and determined that a split such as that would give too much power to the hatcher owners.   In the end a 50-50 split was deemed the most optimal in terms of keeping the currency supply nicely distributed.

No the price at launch isn't decided at all, that is down to the market, $0.10 was just as an example as that is value that was decided by the eMunie community for the initial pre-launch sale that is coming up shortly.

Both of you guys are making the same mistake that all do when I explain the above...I don't mean that as criticism, everyone makes the same assumption that a stable, gentle value increase doesn't give good return.

The ROI isn't made by the value, its made by the supply increase (msin you were SO close).

Assume I have 1000 eMu that cost me $100 @ $0.1 each and I was an early adopter.  All being well, eMunie will be a great success and there will be a lot of demand, but also assume that over time a nice easy uptrend in value is attained, and that 5% over that first year is met.

My 1000 eMu at the end of the 1st year is now worth $105 ($0.105 per eMu), not a great increase, supply inflation however due to huge demand is 1000% over the year.  New supply eMu is roughly split 50:50 between balance holders and hatchers as reward for clearing transactions.  I am a balance holder, so balance holders over the year will see a 500% increase in the amount of eMu they hold.

I'm now holding 5000 eMu @ $0.105 which equals $525, a nice ROI while at the same time giving a predictable, stable value of each unit.

Some might say that 1000% inflation is too large, but I pose these 2 arguments to counter that position:

1.  BitCoin and many other alt's have seen value increase upwards and above of 1000% this year alone, BTC in the past 3 months has risen from ~$100 to $1000, that is 1000%
2.  Unlike fiat inflation, eMunie inflation isn't stealing value from itself, the value comes from outside via the demand as people are buying in with some other form of valuable medium.

With BitCoin, the amount of BTC units is capped and creation of them is strictly controlled by the system over time.  The problem with this model is that value is pouring in from a virtually unlimited source, to a limited quantity of units.   Value can't be destroyed, so the only way for BTC to absorb that incoming value over time is for the overall value of each unit to increase, which leads to these HUGE unpredictable rally's, then sudden crashes as that value is then removed back out of the system for profit.

eMunie absorbs this incoming value via supply inflation which is distributed around the system proportionally and equally, so instead of increasing the value of individual units, the quantity of units instead is increased as required.

It is this which allows both stable value, PLUS the opportunity to profit long term and gain a ROI.

Apologies I remember reading this and thought I had replied, pretty mad over here.

You have the idea the wrong way around, the supply & demand model wants to keep the value on a shallow upward trend, of around 5% per year, and minimal daily fluctuations are fine as all currencies (even "stable" fiat) have these daily fluctuations and trying to control them too would be very difficult and not what I want the system to be.

It's a 2 part system, one part attempts to achieve a steady predictable upward trend over a longer period of time, the second part attempts to combat large value peaks and troughs.

Ultimately what the model should achieve is a long term predictable uptrend of value, whilst at the same time preventing the market from creating pump & dumps and sudden bulltraps etc.

It isn't unlimited in its scope though, if there is a consistent upward trend, over and above what the system want to keep, that upward trend will win out over time. Likewise on the flip side of the coin (heh nice pun) if a large holder is trying to pump the price and has more eMu reserves than the system has available to combat it, that pump will eventually win out.

One thing that this model can't do anything about is a general downward trend over time, it can't take supply OUT of the system (unless the system buys it with reserves it has and holds it) but generally with current crypto's, downward trends haven't been a source of problem as we can see from the $1000/BTC valuation currently.

Feel free to ask anything else, I'll make sure I catch it this time

OK, we all know bars are worth more than coins, and this is what gives BitBar its intrinsic value over bitcoin.  But, I've got a new concept which will be far more valuable - BitSculptures.  Each sculpture is a life-size replica of Rodin's "The Thinker" made of solid 24-carat digitally-rendered virtual gold.  I shall release only 2000 of these.  Based on my calculations, they are 10,500x more scarce than bitcoins, which should give BitStatue a current equilibrium price of roughly $11.1M based on today's bitcoin prices.  Of course, the statues have more intrinsic value than a bar or coin because they also are a work of art, so I would actually expect the price to head far higher once supply/demand levels out.

id be interested to know, initially, how may coins will be released beyond those that invested at the beginning?  they dont want to call it a premine, ok, so tell us how many extras will be released?

That's a thing that's very common with low level small fry drug dealers.

They look at this internet thing and think "Hey, if I just call myself something other than my real name no one will ever find me."

Then they go ahead and do all kinds of retarded stuff linking up their dealer persona and their real life information.

See that everyday.

OP has a hard on for MtGox.  He's claimed his MtGox account was hacked in the past.  Now we know why he didn't file the police report MtGox required in order for them to release information about the IP from which his account was supposedly hacked.

If only...

Not only we are required (by the FATF, not the US government) to collect AML information and ensure transaction data is matching the information on file, but this is something we pay for. This means 3 fulltime employees with appropriate training and regular updates on procedures/etc.