Hi Altcoiners
Some of you when reading the initial announcement of eMunie may have noticed a mention that we were considering the option of backing a quantity of pre generated EMU's, at least initially, with an amount of fiat currency. This would most likely be USD, in the region of $50k-$100k, but we are as yet undecided.
There are obvious pro's to doing this:
- Allows an exchange to real currency you can use to be put in place soon after launch
- Allow other services to come online faster and have a real world benefit
- Assign the currency some real world value quickly
- Provide more initial confidence in the currency
- Ward off, at least initially, any violent fluctuations in price
There are con's too:
- Initial control of currency value by a central authority (us)
- Provided stability will slow currency value upward trend
- Developing a safe umbilical cord to fiat will be challenging
- Potential of a fractional reserve
Thus we are unable to come to an decision.
As we want eMunie to develop into a thriving community post launch, where everyone has a say, we thought what better way to get a majority concensus, than to ask those that will be using it (we hope), you
Feel free to express you opinion on the idea, good or bad, as we would like to know everyone's thoughts.
I've self moderated this post so I can keep out the noise. If you want to discuss eMunie, its approach, or anything that's not related to this thread, please do that here ->
https://bitcointalk.org/index.php?topic=220530Thanks all.