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 08/02/2014, 05:59:15 UTC
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.