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Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
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.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
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.
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. Its 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.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
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.
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. Its 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.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
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.
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. Its 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.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
As you now have hired the total Coin Cap, you need to higher the reward! Pro tip 
With current payout it will take 102000 years+ to mine all coins, and that is no halving.
Make that 100,000 coins per block and it would still take 100 years to mine it. Make it 500,000 per block first day, 300,000 per block second day 200,000 per block thrid - 7th day, after that 100,000 per block
With current payout it will take 102000 years+ to mine all coins, and that is no halving.
Make that 100,000 coins per block and it would still take 100 years to mine it. Make it 500,000 per block first day, 300,000 per block second day 200,000 per block thrid - 7th day, after that 100,000 per block
We are working out the full details. The amount shown is 100% going to change. We have been discussing the best coin generation details for Major Piece. Thank you for the input and we will keep this suggestion in mind on the final decision.
This is the pre-launch and details WILL be changing. We are working hard on this. We have updated the thread so that there is no more confusion.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
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.
Well good luck with that. ALMOST no one is going to pay 1 euro for a coin that is 'worth 1 euro exactly because some guy says so', they know it is not really 1 euro and you are just trying to get rich really easily. I mean, a premine of 2 million euros??? Well good luck getting people to give you that 2 million, if you succeed, give me some.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.
We are considering changing the pre-mine to 0% This is not about money. It's about a revolutionary change in crypto-currency.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
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.
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.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
OP: I don't understand why you're pegging the coin's value to EUR yet the block reward is totally disproportionate to the cost of mining it. A single block is supposed to be worth EUR 1000? 
Even with difficulty at around 20 you could generate EUR 1000 worth of coins in 24 hours with only 1MH/s of hashing power. In this case the coin's value would be 1000+ times the actual cost to mint it.
...plus a 2m EUR premine just screams greed...
Even with difficulty at around 20 you could generate EUR 1000 worth of coins in 24 hours with only 1MH/s of hashing power. In this case the coin's value would be 1000+ times the actual cost to mint it....plus a 2m EUR premine just screams greed...
The pre-mine WILL CHANGE along with the other values to best meet the needs. Along with on an outline to how it will be spent to ensure everyone how ALL the funds will be spent. Most if not all funds will go to bounties and giveaways. The OP has been edited. My focus for this is creating the first stable coin doing so by retaining the value of the Euro, not profiting.
For those of you questioning the market, I'll say this again
As Major Piece is different than the usual crypto-currencies different practices will have to be implemented.
We will be working this out with exchange sites to find the best possible solution.
We are working hard with many people to ensure Major Piece's success.
The most revolutionary ideas start at inception with people saying it will never work. Many people said Bitcoins couldn't work and look where they are now. I could give numerous examples but bottom line, we will do everything possible to succeed.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
So will this coin hit the usual exchanges? If so, what or who is there to stop me from dumping this cheaper? Not saying I will, just a question.
As Major Piece is different than the usual crypto-currencies different practices will have to be implemented.
We will be working this out with exchange sites to find the best possible solution.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
2,000,000 pre-mine 
Most pre-mines are at 1% or higher. We will probably lower the pre-mine and release an outline of who gets what bounties. Most if not all of the pre-mine will go to bounties and giveaways.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
Looking through all the alt-coin announces and this caught my eye. A stable coin sounds amazing.
Yeah me too, i can't wait.
I did just think of a slight issue. What if i accidentally sold for less than 1 euro? i mean i'm not one for disobedience and all that stuff... but what if i pressed the wrong button
then others seeing mine sold first tried the same shit.... but they done it on purpose? how can we kick them off the major piece team?What if they did not share our vision for major piece??? what if they just pretended to like it.... but then sneakily tried to sell it for that other BTC unstable junk?
What if you accidentally gave someone a dollar for 3 quarters instead of 4? The value of the dollar does not suddenly crash.
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
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?
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
MAJ Added TO Latest Altcoin List
Thank you for adding us
Re: [ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
sound just like another scam coin
Scam coins are based on Pump and Dumps. That's not possible with Major Piece.
[ANN] [MAJ] *Major Piece* *First coin to equal 1 Euro, no more, no less* 3/01/14
The first alt-coin of its kind to retain the value of a major world currency * 1 Major Piece = 1 Euro * Release date: 3/01/14
Why?
Good question. The value of alt-coins on the market and even Bitcoins are highly volatile. The value could rise in a minute and drop twice as much the next second. We have all seen it happen and it causes holding money in coins highly risky. There are numerous reasons for wanting to hold money with a crypto-currency but the risk caused by the volatile prices holds back numerous people. With Major Pieces it allows people to place money on an online currency without having to worry about the value dropping half it's price over night. 1 Major Piece = 1 Euro. No more. No less. We hope this spreads the use and popularity of crypto-currencies.
Why Will This Work?
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.
The Name
http://i29.photobucket.com/albums/c292/MajorPiece/DefineMajor_zps529e211c.png
The definition of Major sums up our crypto-currency and our goals for Major Piece.
Why did we use Piece instead of Coin? Simple, because we are different. We aren't like every alt-coin clone out there.
Info
Type: Scrypt
Coins: 5400000000000 (Amount of Euro in circulation)
* rest to be announced at least one week before launch
IRC chat
http://webchat.zenet.org/?channels=#Major
Pools * Pre-Registration
http://major.zenet.org/
*More a few days before launch
Faucet
www.earncryptocoins.com *Coming soon
Bounties
Amounts to be announced
*New coin logo!
Block Chain
Exchanges
Pools
Gambling games
Merchants
Faucets
Videos
Graphics
etc.
If you are interested in helping support Major Piece by doing any of the above or something we have not listed, please feel free to contact me.
Pros
No fluctuations in price of coin, meaning no potential losses for holders
Businesses can accept this coin with no worry on losses due to price change.
More interest to people who have feared owning crypto-currency
No Pump and Dumps
Stable, non-variable crypto-currency to trade other coins with
Cons
No price fluctuation, meaning no large profit margins on trading this coin
Not independent from a central currency
Updates
We are working on getting this coin up on exchanges as soon as possible.
2/06/14 - Amount of Pieces changed to the number of Euro in circulation