IGotSpots, its your show and you run it like you see best. But, in my point of view, if you want to back CPR with copper then price needs to be set in stone. say 1 CPR is exchangeable to quarter pound of copper (or whatever you decide), with amounts of multiples of 4 CPR. Like US Dollar was once worth 17g of gold. It just needs to be a promise that ppl can echange CPR to copper if they want, I doubt that many ppl in 1972 actually used to change dollars to gold that often anyway.
If you sell your copper based on echange rates then I can congratulate you for opening a copper shop, but it has nothing to do with CPR anymore. At that point CPRs value is purely speculative (like, I guess every crypto is).
You're exactly right. Once you set your coin on a copper standard then people will always expect to be able to get that set amount. I was planning to do this same concept with my coin but with gold but I need too much money cause it has to be done right and be offered to everyone.
And this is why I brought it to his attention that I felt he was setting the initial price so high that he wouldn't be able to sustain it at $12,000 per month.
Now he's got it down to maybe $8,000 per month which is still a lot of risk for the guy but he doesn't seem worried so he must have a plan.
I congratulate him as well. It's cool to see a virtual coin with an actual real intrinsic value - as long as the price stays legged to copper. I wanted to be the first to do this - to peg my coin to a precious metal with a floor piece guarantee, but he beat me to it. Good for him.
