Euphoria X13 asset backed Buy research chemicals WEBSTORE LIVE

[smalltimer]

if you want success longterm your enemies are hype (speculative bubbles) and too high complexity (too many merchants) before the system has settled from said initial speculation. That's what i think.

i think there is a great possibility you will have to sacrifice the peg later to other things. To uphold the peg will be extraordinary difficult in the long run as there will be great fluctuations in the demand for the coin.

It'll be interesting to see what happens once the demand drops off (it certainly does at a later point; speculators you know)

[EuphoriaCrypto]

if you want success longterm your enemies are hype (speculative bubbles) and too high complexity (too many merchants) before the system has settled from said initial speculation. That's what i think.

agree, this is why we have a floating peg in these early stages. Unlike URO we are already fulfilling and sending orders on a daily basis, we can use our margins and premine to mitigate the volatility for purchasers for the long term stability but in reality the coin is only a week old.

We fully intend to have a final value of product v asset, but at this stage we would just go bust if we did that.

We need some kind of history and stability before we can really pin it down hard. At the moment we are still in POW and we are about to hit the final big blocks.

[smalltimer]

We need some kind of history and stability before we can really pin it down hard.

exactly. You will have to go through the first speculative bubble and then survive the sharp drop in demand after that . Once the system has settled after that (very likely around your peg-price  - if you manage to uphold it) you can bring in competing merchants but your peg would remain float since demand constantly changes especially once new retailers come in. A second speculative bubble can then be expected - the game begins again. Always sharp rise and drop in demand.
Bottom line: the peg remains floating

question arises: if the peg is floating forever, can it be called a peg or is it not just an exchange rate? Can it really be called 'asset backed'?

I am watching this for sure  

[HKBvM]

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money 


Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

because it's not only going to be one webstore. We are already talking with other uk retailers about accepting euph and are in discussions with a US retailer about a domestic partnership there. As it stands our premine that we have held will not go very far for using as subsidy with other retailers so they can be guaranteed a stable price and also won't go very far subsidising peoples orders. The lesss euph are spent per order the easier it is for us to be able to use our stash to stabilise the price and the wider we can get adoption.

Think of it like this, if there are 1000 euph to 0.5 gbp then if we have to subsidise an order or another merchants order to the tune of 5 gbp then we need to use 10000 of our premine. If there are 10 then we use 50. The less of our premine we have to use the more we can stabilise and entice other retailers to take the opportunity to spread to a wider audience.

Look I appreciate that 0.5 is a very ambitious target but you have to aim high and see where you can go in life.

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

 
premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

clearly you did miss that earlier yup. Already posted that we have been in talks with other retailers.

ok, sorry for that. can you answer the premine question?

Oh, and I apprectiate the answers, usually someone is yelling just "fud"

Sure. Of course the euph will be sold on exchange by retailers but there is always sells and buys. As long as the amount of people who want to buy chems is increasing not decreasing, once POW is finished buy support will out strip sell support. One of the advantages of having an industry specific coin like this over bitcoin is that demand can outstrip supply a lot easier. People need to purchase euph to purchase the chems. Most chems retailers don't accept credit / debit cards and use WU moneypaks or bank transfer. Euph will make it much quicker and easier to purchase your chems.

If adoption goes as we hope it will then buy support should be good. We need to get POW finished before we can get any sense of stability here but once that is done I believe we can get buy support to be strong. A lot of people in crypto are into chemical research and the market is a natural fit. The broader we can get merchants to accept chems then the better buy support will be, so although merchants will be selling on exchange people will also be buying.

Believe it or not there are quite a few chems retailers on this site already, bitcoin is popular in the chems business and we have had contact from quite a few on here alone who are interested in getting involved in the project.

All this doesnt solve the critical problem. You cant sell a single coin of your premine as long as the peg is above market price. And that is what you said you will do and where this discussion started.

If you presented your concept and guaranteed a minimum price via your webshop, I wouldnt be that critical. The promise of a rising peg (which you cant keep) makes this look super scammy, sorry.

[EuphoriaCrypto]

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money 


Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

because it's not only going to be one webstore. We are already talking with other uk retailers about accepting euph and are in discussions with a US retailer about a domestic partnership there. As it stands our premine that we have held will not go very far for using as subsidy with other retailers so they can be guaranteed a stable price and also won't go very far subsidising peoples orders. The lesss euph are spent per order the easier it is for us to be able to use our stash to stabilise the price and the wider we can get adoption.

Think of it like this, if there are 1000 euph to 0.5 gbp then if we have to subsidise an order or another merchants order to the tune of 5 gbp then we need to use 10000 of our premine. If there are 10 then we use 50. The less of our premine we have to use the more we can stabilise and entice other retailers to take the opportunity to spread to a wider audience.

Look I appreciate that 0.5 is a very ambitious target but you have to aim high and see where you can go in life.

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

 
premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

clearly you did miss that earlier yup. Already posted that we have been in talks with other retailers.

ok, sorry for that. can you answer the premine question?

Oh, and I apprectiate the answers, usually someone is yelling just "fud"

Sure. Of course the euph will be sold on exchange by retailers but there is always sells and buys. As long as the amount of people who want to buy chems is increasing not decreasing, once POW is finished buy support will out strip sell support. One of the advantages of having an industry specific coin like this over bitcoin is that demand can outstrip supply a lot easier. People need to purchase euph to purchase the chems. Most chems retailers don't accept credit / debit cards and use WU moneypaks or bank transfer. Euph will make it much quicker and easier to purchase your chems.

If adoption goes as we hope it will then buy support should be good. We need to get POW finished before we can get any sense of stability here but once that is done I believe we can get buy support to be strong. A lot of people in crypto are into chemical research and the market is a natural fit. The broader we can get merchants to accept chems then the better buy support will be, so although merchants will be selling on exchange people will also be buying.

Believe it or not there are quite a few chems retailers on this site already, bitcoin is popular in the chems business and we have had contact from quite a few on here alone who are interested in getting involved in the project.

All this doesnt solve the critical problem. You cant sell a single coin of your premine as long as the peg is above market price. And that is what you said you will do and where this discussion started.

If you presented your concept and guaranteed a minimum price via your webshop, I wouldnt be that critical. The promise of a rising peg (which you cant keep) makes this look super scammy, sorry.

No problem, you are totally entitled to your view. We can agree to disagree it doesn't have to be acrimonious. You will notice I haven't moderated this thread (which maybe I will regret) because I want transparency. We are not asking anyone for anything here it is a free choice to buy or not buy and use or not use the coin for its intended purpose. People are receiving their orders and getting their stuff in a timely manner. We can do no more than present our concept and do our best to make it work.

[adloule13]

you're doing great super dev, always active and ready to answer all questions 
 

[smalltimer]

a peg above exchange rate will lead to an even more fatal speculative bubble and will end in tears for sure. It will be hard enough to maintain a peg below exchange rate because of all the speculation/volatility/fluctuations in demand. (all longterm thinking - if you're only shortterm a lot can work)

I'd really more tend to call it 'pseudo-peg' to be frank since it is already clear it will remain floating forever.

I think: a real peg neutralises the open and free market - and a pseudo-peg is neutralised by the open market in return.

You can't have a real peg and a meaningful free market at the same time

(only my 2 satoshi of course)

[traumschiff]

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money 


Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

because it's not only going to be one webstore. We are already talking with other uk retailers about accepting euph and are in discussions with a US retailer about a domestic partnership there. As it stands our premine that we have held will not go very far for using as subsidy with other retailers so they can be guaranteed a stable price and also won't go very far subsidising peoples orders. The lesss euph are spent per order the easier it is for us to be able to use our stash to stabilise the price and the wider we can get adoption.

Think of it like this, if there are 1000 euph to 0.5 gbp then if we have to subsidise an order or another merchants order to the tune of 5 gbp then we need to use 10000 of our premine. If there are 10 then we use 50. The less of our premine we have to use the more we can stabilise and entice other retailers to take the opportunity to spread to a wider audience.

Look I appreciate that 0.5 is a very ambitious target but you have to aim high and see where you can go in life.

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

 
premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

clearly you did miss that earlier yup. Already posted that we have been in talks with other retailers.

ok, sorry for that. can you answer the premine question?

Oh, and I apprectiate the answers, usually someone is yelling just "fud"

Sure. Of course the euph will be sold on exchange by retailers but there is always sells and buys. As long as the amount of people who want to buy chems is increasing not decreasing, once POW is finished buy support will out strip sell support. One of the advantages of having an industry specific coin like this over bitcoin is that demand can outstrip supply a lot easier. People need to purchase euph to purchase the chems. Most chems retailers don't accept credit / debit cards and use WU moneypaks or bank transfer. Euph will make it much quicker and easier to purchase your chems.

If adoption goes as we hope it will then buy support should be good. We need to get POW finished before we can get any sense of stability here but once that is done I believe we can get buy support to be strong. A lot of people in crypto are into chemical research and the market is a natural fit. The broader we can get merchants to accept chems then the better buy support will be, so although merchants will be selling on exchange people will also be buying.

Believe it or not there are quite a few chems retailers on this site already, bitcoin is popular in the chems business and we have had contact from quite a few on here alone who are interested in getting involved in the project.

All this doesnt solve the critical problem. You cant sell a single coin of your premine as long as the peg is above market price. And that is what you said you will do and where this discussion started.

If you presented your concept and guaranteed a minimum price via your webshop, I wouldnt be that critical. The promise of a rising peg (which you cant keep) makes this look super scammy, sorry.

As long as they send you the product in exchange for your EUPH its not a scam.

They are fixed to the USD price -30% or whatever if you pay in EUPH.

Doesn't matter at what price you buy your EUPH if you want to buy products, and thats the whole aim of the currency.

[smalltimer]

nobody seems to have done the homework on the very commen speculative bubbles and how they tend to go down.  

as long as no bubble occures you'll be all fine but if occures you're likely pancake after the pop. Offering "peg" above exchange rate is just helping to build a bubble.

[adloule13]

nobody seems to have done the homework on the very commen speculative bubbles and how they tend to go down. 

you're repeating yourself 
ok we got what are you trying to say
now what ?

[smalltimer]

nobody seems to have done the homework on the very commen speculative bubbles and how they tend to go down.  

you're repeating yourself  
ok we got what are you trying to say
now what ?

now what? Offer "peg" well below exchange rate for the start until first hype fades out at least. And maybe correct the "asset-backed" thing and "peg" since it likely will turn out not to be that.

If you do that, maybe it can survive longterm as a niche currency for these chem retailers.

[CryptoClub]

anyone in crypto knows well that nothing is guaranteed. Fully appreciate that. However we have to play around with concepts around crypto and its use to move it forwards. I love crypto and I think its possibilities are huge and we are trying to create a use case for it here and some kind of stabilisation in what is a volatile world. Volatility is both the bane and beauty of crypto. It creates profit (and loss) opportunities for traders and also creates issues with adoption for merchants who want a stable price. Coinbase did a great job of doing instant fiat conversion for merchants. We are trying to do the opposite and protect the purchaser from volatility by guaranteed price and merchant with premine. RC merchants have good profit margins and don't mind taking a little less profit to extend the base to new customers, just not too much. Can I guarantee you 100% it will work and we will achieve our aims? of course not I am not stupid and understand the risks of crypto and not going to try and bravado it out to say we are the messiahs of adoption and can do anything. What I can say is that we have thought the plan through very carefully done the maths and will do our utmost to get where we want to be.

Sounds ok to me. Good luck with the experiment then


edit:
well, i thought about it. If you can uphold that peg even during and after bubbles in the long run the coin will gravitate towards the peg-value on the open exchanges. That will take a few months but if you manage to survive and uphold the peg the coin will be roughly at the value of the peg in the long run.

this is a very interesting experiment

It is intreresting because they likely have the margins to actually make it logistically possible. In theory, it would also function as a coupon and an advertisement in a way, so they could get more shoppers. I am just interested in it speculatively myself, and in that regard alone I think there is a lot of potential.

[smalltimer]

I'd replace the word 'peg' with something like 'security'/'floating peg'

and replace 'asset backed' with 'underpinned by assets'

(to keep it real and honest and not misleading / avoid breaking promises)
 

all in all: if this could survive longterm there is potential to build a small economy

[traumschiff]

I'd replace the word 'peg' with something like 'security'/'floating peg'

and replace 'asset backed' with 'underpinned by assets'

(to keep it real and honest and not misleading / avoid breaking promises)
 

all in all: if this could survive longterm there is potential to build a small economy

You don't say?

Such analysis.

[traumschiff]

nobody seems to have done the homework on the very commen speculative bubbles and how they tend to go down.  

as long as no bubble occures you'll be all fine but if occures you're likely pancake after the pop. Offering "peg" above exchange rate is just helping to build a bubble.

No one cares on the bubbles here honestly, because the basic idea behind the coin is to use it for purchasing goods on the webshop.

You simply forget this in every single comment you make.

The peg will move up and down accordingly to be always benefical for EUPH buyers over USD buyers.

Please stop selling analytical services.

Basic idea behind coins like these were never holding (except at the start for very early adopters and miners), these are methods of payment. If you have benefits in paying with a certain currency, you buy it in exchange for BTC and pay for the product. END

Who cares on what bubble or bottom point you are when there is a benefit for the buyer and he/she isn't holding?

[smalltimer]

The peg will move up and down

so it is no real peg (which is my whole point)

[traumschiff]

The peg will move up and down

so it is no real peg (which is my whole point)

And?

Who cares honestly what you call it when people understand and atm its not a chain of RC webshops accepting it but the very one which the dev runs.

There isn't even any marketing or PR material where it would count, only the crypto community.

Please comment on my whole answer because, what you are doing is pointless.

[smalltimer]

it's not 'asset backed' - it is 'underpinned by assets'

that's quite a difference

if you choose to call it what it is not, well then that's misleading and potentially a scam of course. (not saying it is one right now)

[adloule13]

it's not 'asset backed' - it is 'underpinned by assets'

that's quite a difference

if you choose to call it what it is not, well then that's missleading and potentially a scam of course.

now you're spaming and repeating the same thing
no body is forcing you to invest in this coin

[traumschiff]

it's not 'asset backed' - it is 'underpinned by assets'

that's quite a difference

if you choose to call it what it is not, well then that's missleading and potentially a scam of course.

You are not clear on the definiton of scam.

The coin isn't an investment.

It is not Bitcoin 2.0.

It is not a coin to hold for long-term, but to buy goods with and use it as a method of payment. Also bubbles occur when whales want it and not when simple ANN readers or the Dev wants it.

Not sure who pays you for market analysis.