[ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14

[Major@Zenet]

We @ Zenet.org are very excited with this Major Piece, so we have setup a pool for it! You can already pre-signup @ http://major.zenet.org/.

[MajorPiece]

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!

We are working hard with a few exchanges to allow Major Piece to be traded at a non-variable value of 1 Euro against/with other alt-coins. Once we get a few exchanges more will follow. We are also working with online stores and services to accept Major Piece. This will allow for the Major Piece to retain the value of 1 Euro.

[42Dice]

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.

[rrpq90a]

People who start these coins should understand how a currency works. Be much more successful.

Give you a hint, a nations GDP is what sets the value of a currency for which is used to trade that value on exports and imports. That is what creates that value.

One reason China's economy is about to implode is due to the way they measure their GDP - it is an artificial method, by measuring the production and not the sale of resources. Thus whole cities build for millions to live remain almost empty.

So, if the economy implodes, will alt-coins be anymore useful - no. As they are not recognized as being associated with trade values outside of personal barter - which will always be very unstable.

If you want to make a product like bitcoin you have create value in ownership not necessarily in the trade - like gold. The more crypto coins that are released, the less valuable they all become.

With crypto currencies they way they are now - is no different that bank notes in the 1800's - any bank could produce them and people would trade with them. It failed, due to the instability of the rate of trade - just like cryptocurrency is doing today.

If there was to be a real trade, it would be to have something stand as value to the coin. Have it be a natural resource or like. Could be anything that has a value, thus the coin becomes a stock or commodity.

I love the idea, but the execution is the problem... in five years this will be remembered as a fun experiment. And someone will figure this out and make it real - most likely Wall Street.

[almightyruler]

We are working hard with a few exchanges to allow Major Piece to be traded at a non-variable value of 1 Euro against/with other alt-coins. Once we get a few exchanges more will follow. We are also working with online stores and services to accept Major Piece. This will allow for the Major Piece to retain the value of 1 Euro.

If you can pull this off the miners are going to love the coin. What other altcoin could net you hundreds or thousands of Euros just by mining with a MH or two for half a day?

Question is whether people will actually BUY this coin at that rate...

[Revelations86]

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.   

[miramare]

The fixed price(1euro) + the huge amount of the coins

Be Either a scam or mad.

[Hapex]

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.

[Nullu]

A moderator has appeared to have deleted my original post. I have no idea why, as an explanation hasn't been posted. It was a perfectly valid post. Given that it's been quoted about six times, it also puzzles me why it was deleted at all.

There has to be enough weight behind a value for people to agree on it. Whether that be lots of people, institutions, or some other form of wealth. If you opened a shop and declared 1 coin = 1 Euro, then you'd soon go bankrupt. You would need thousands of stores or services to agree on that price.

Unless you had a way to also own the only exchange that could sell Major Piece. Then you could set the price.

[lasciv]

I have to agree with Nullu on this one.

-straight forward answer- you will be backed by home-made rigs, if you're lucky by BTC. You have nothing behind the idea except for us- the miners.

-I would like to point out one project with the exact same claim: marinecoin.somethingsomething. You can claim whatever you want to but you expect from us to back you up. Well, nobody's willing to give you the trust for something better than 'I am/ I can'.

-Your argument on top of page 4 asks for faith, because none of the fiat currencies has any value. Well, Nullu already said something about that, but I will add something else: 'They have guns, you have shit!'. They can persuade you to use fiat, you can't make people use your currency.

Please be smarter then this, your profit will decrease significantly if you don't keep pace with the market. For me, your claims are nothing but pure and utter garbage.

Convince me I'm wrong, please.

 

[Hilux74]

This is the only coin ever envisioned that is more retarded than even FairQuark.

[cryptohunter]

hehe i love major piece....when is it coming out?

[markONE]

Let's agree all with the dev here pls...
After all, we know for sure it's worth 1 E. And the major piece is that we don't even need exchanges for this one... I mean, what's the point in selling it for 1E and buying it back for 1E. Why buy it when you can mine it?

As long as this will stay away from exchanges it will keep its value! And we all go to the moon!

[MajorPiece]

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.   

It is not expected that Major Piece will take off from the start. It will start with small numbers and build slowly gaining more trust as more people start to mine it and use it.

Part of the reason that not many markets accept Bitcoins is due to that price fluctuation, and because it is so new. Since Major Piece's value does not fluctuate (not counting the fluctuation of the euro) more companies will start to accept it. Maybe not at the beginning, but in the long run. 

As I said before we are working with exchanges and online businesses to accept Major Piece at a value of 1 Euro. As it spreads to more markets and more people use it it will grow. People will use it because there is a huge demand for a crypto-currency that does not fluctuate in price (once again not including the fluctuation of the euro) This is a long term project and needs to be viewed that way.

[42Dice]

hehe i love major piece....when is it coming out?

03/01/2014 it says it in the OP.

[blueangel01]

I am going to buy Europe with Major Piece.  

[blade87]

So who is holding the 1,000,000,000 Euros to back it?  

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

A huge amount of faith. Does this coin at least have that?

I can't wait to mine 5 million of these on the first day and become and instant millionaire.

[Jonesd]

Would be nice if they at least got rid of the white line on the upperright of the image. Now it looks like it is made in Paint... :S

[MajorPiece]

http://i29.photobucket.com/albums/c292/MajorPiece/MajorCoin_zps668f181d.png

Would be nice if they at least got rid of the white line on the upperright of the image. Now it looks like it is made in Paint... :S

Fixed. If anyone thinks they can make a better image feel free, there's a bounty waiting for you if you do.

[Major@Zenet]

We @ Zenet.org are very excited with this Major Piece, so we have setup a pool for it! You can already pre-signup @ http://major.zenet.org/.