I have been watching several alternate bitcoin-based currencies start up, and so far the people behind them have all felt that even if there were fifty transactions per block every block paying 50 coins per block is stsill a very high transaction fee.

They have also all had problems with the idea of handing over goods to people who aren't willing to actually back the currency but instead just want to generate it and spend it. Miners, in other words.

Thus so far all are taking the approach of using private "friend to friend" networks for the first few years to develop and establish their currencies, as they feel this gives them the best ability to actually back the currency.

Basically if they are the only issuers of their currency then they can see to it that they only issue it in situations where they are in fact willing to back it with goods.

They do not want to be in the position of saying "we will give you goods in return for coins some stranger generates with a GPU". Instead they are aiming to be in the position of saying "we will give you good in return for coins that we issue".

In fact the reason each interest-group is creating its own currency is because they do not want to have to redeem other people's such currencies over which they have no control as to the amount issued and the value being provided by those who are issuing it.

-MarkM-