Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
by
MajorPiece
on 07/02/2014, 04:50:28 UTC
The idea we have here is actually quite simple but some people appear to be over thinking it. 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 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. 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. 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.

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.