Euphoria X13 asset backed Buy research chemicals WEBSTORE LIVE - page 33.

HKBvM

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Activity: 398

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Quote from: smalltimer on November 28, 2014, 05:19:08 AM

Quote from: HKBvM on November 28, 2014, 05:09:25 AM

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

he doesn't 'dump' them of course but he is greatly dependant on the demand for the coin. Buying the coin will be equivalent of buying vouchers for the products. If it is planned to have more than one merchant accept the coin the whole game would shift a lot and many things would need to be reevaluated. I think with only 1 shop this can maybe work but competing merchants in the same coin could end up being a problem for the peg (or the profits).

no, but the retailers he wants to subsidy with euph surely will. Unless I missunderstood the concept.

HKBvM

sr. member

Activity: 398

Merit: 250

Quote from: EuphoriaCrypto on November 28, 2014, 05:21:09 AM

Quote from: HKBvM on November 28, 2014, 05:09:25 AM

Quote from: EuphoriaCrypto on November 28, 2014, 04:06:57 AM

Quote from: HKBvM on November 28, 2014, 03:58:47 AM

Quote from: EuphoriaCrypto on November 27, 2014, 05:09:33 PM

Quote from: solid12345 on November 27, 2014, 05:08:04 PM

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money Roll Eyes

Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

because it's not only going to be one webstore. We are already talking with other uk retailers about accepting euph and are in discussions with a US retailer about a domestic partnership there. As it stands our premine that we have held will not go very far for using as subsidy with other retailers so they can be guaranteed a stable price and also won't go very far subsidising peoples orders. The lesss euph are spent per order the easier it is for us to be able to use our stash to stabilise the price and the wider we can get adoption.

Think of it like this, if there are 1000 euph to 0.5 gbp then if we have to subsidise an order or another merchants order to the tune of 5 gbp then we need to use 10000 of our premine. If there are 10 then we use 50. The less of our premine we have to use the more we can stabilise and entice other retailers to take the opportunity to spread to a wider audience.

Look I appreciate that 0.5 is a very ambitious target but you have to aim high and see where you can go in life.

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

clearly you did miss that earlier yup. Already posted that we have been in talks with other retailers.

ok, sorry for that. can you answer the premine question?

Oh, and I apprectiate the answers, usually someone is yelling just "fud"

EuphoriaCrypto

member

Activity: 70

Merit: 10

Quote from: HKBvM on November 28, 2014, 05:09:25 AM

Quote from: EuphoriaCrypto on November 28, 2014, 04:06:57 AM

Quote from: HKBvM on November 28, 2014, 03:58:47 AM

Quote from: EuphoriaCrypto on November 27, 2014, 05:09:33 PM

Quote from: solid12345 on November 27, 2014, 05:08:04 PM

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money Roll Eyes

Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

because it's not only going to be one webstore. We are already talking with other uk retailers about accepting euph and are in discussions with a US retailer about a domestic partnership there. As it stands our premine that we have held will not go very far for using as subsidy with other retailers so they can be guaranteed a stable price and also won't go very far subsidising peoples orders. The lesss euph are spent per order the easier it is for us to be able to use our stash to stabilise the price and the wider we can get adoption.

Think of it like this, if there are 1000 euph to 0.5 gbp then if we have to subsidise an order or another merchants order to the tune of 5 gbp then we need to use 10000 of our premine. If there are 10 then we use 50. The less of our premine we have to use the more we can stabilise and entice other retailers to take the opportunity to spread to a wider audience.

Look I appreciate that 0.5 is a very ambitious target but you have to aim high and see where you can go in life.

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

clearly you did miss that earlier yup. Already posted that we have been in talks with other retailers.

smalltimer

sr. member

Activity: 252

Merit: 250

Quote from: HKBvM on November 28, 2014, 05:09:25 AM

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

he doesn't 'dump' them of course but he is greatly dependant on the demand for the coin. Buying the coin will be equivalent of buying vouchers for the products. If it is planned to have more than one merchant accept the coin the whole game would shift a lot and many things would need to be reevaluated. I think with only 1 shop this can maybe work but competing merchants in the same coin could end up being a problem for the peg (or the profits).

thedok

full member

Activity: 228

Merit: 100

Gonna end in tears Cry

HKBvM

sr. member

Activity: 398

Merit: 250

Quote from: EuphoriaCrypto on November 28, 2014, 04:06:57 AM

Quote from: HKBvM on November 28, 2014, 03:58:47 AM

Quote from: EuphoriaCrypto on November 27, 2014, 05:09:33 PM

Quote from: solid12345 on November 27, 2014, 05:08:04 PM

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money Roll Eyes

Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

because it's not only going to be one webstore. We are already talking with other uk retailers about accepting euph and are in discussions with a US retailer about a domestic partnership there. As it stands our premine that we have held will not go very far for using as subsidy with other retailers so they can be guaranteed a stable price and also won't go very far subsidising peoples orders. The lesss euph are spent per order the easier it is for us to be able to use our stash to stabilise the price and the wider we can get adoption.

Think of it like this, if there are 1000 euph to 0.5 gbp then if we have to subsidise an order or another merchants order to the tune of 5 gbp then we need to use 10000 of our premine. If there are 10 then we use 50. The less of our premine we have to use the more we can stabilise and entice other retailers to take the opportunity to spread to a wider audience.

Look I appreciate that 0.5 is a very ambitious target but you have to aim high and see where you can go in life.

and all of a sudden it is not just a webshop, but a bunch of retailers, a us retailer and so on. Did I miss that somewhere earlier?

premine: That simply doesnt work. If you subsidy with euph, those euph will be dumped on the market by the retailers, which will put pressure on the exchange rate, which will in turn generate losses on every sale you make as you are guaranteeing a higher rate via your webshop. To subsidy with the premine you need to sell it, which you cant because you are guaranteeing the (minimum) exchange rate. Do I miss somthing here?

neo666

sr. member

Activity: 364

Merit: 250

Just keep up the good work, stay dedicated to project, succed will follow Wink

ps. any new rewiews from orders?

cheers

smalltimer

sr. member

Activity: 252

Merit: 250

Quote from: EuphoriaCrypto on November 28, 2014, 04:55:02 AM

anyone in crypto knows well that nothing is guaranteed. Fully appreciate that. However we have to play around with concepts around crypto and its use to move it forwards. I love crypto and I think its possibilities are huge and we are trying to create a use case for it here and some kind of stabilisation in what is a volatile world. Volatility is both the bane and beauty of crypto. It creates profit (and loss) opportunities for traders and also creates issues with adoption for merchants who want a stable price. Coinbase did a great job of doing instant fiat conversion for merchants. We are trying to do the opposite and protect the purchaser from volatility by guaranteed price and merchant with premine. RC merchants have good profit margins and don't mind taking a little less profit to extend the base to new customers, just not too much. Can I guarantee you 100% it will work and we will achieve our aims? of course not I am not stupid and understand the risks of crypto and not going to try and bravado it out to say we are the messiahs of adoption and can do anything. What I can say is that we have thought the plan through very carefully done the maths and will do our utmost to get where we want to be.

Sounds ok to me. Good luck with the experiment then Wink

edit:
well, i thought about it. If you can uphold that peg even during and after bubbles in the long run the coin will gravitate towards the peg-value on the open exchanges. That will take a few months but if you manage to survive and uphold the peg the coin will be roughly at the value of the peg in the long run.

this is a very interesting experiment

EuphoriaCrypto

member

Activity: 70

Merit: 10

Quote from: smalltimer on November 28, 2014, 04:40:28 AM

you say "we are offering you a guranteed rate independant of exchange volatility."

i do not believe that. Please do if you can but i think 1 year from now the rate will be very different than it is today. (up or down i don't know)

If you have enough products to purchase back all the coins and are prepared to do so that might be a completely different story.

In the long run to uphold a price peg better than exchange rate on the exchanges you'd need to have a good profit margin in your products but you likely have that.

Well, watching Wink

Good luck with the experiment then.

watch out for speculative bubbles though, because they can cost you big money.

anyone in crypto knows well that nothing is guaranteed. Fully appreciate that. However we have to play around with concepts around crypto and its use to move it forwards. I love crypto and I think its possibilities are huge and we are trying to create a use case for it here and some kind of stabilisation in what is a volatile world. Volatility is both the bane and beauty of crypto. It creates profit (and loss) opportunities for traders and also creates issues with adoption for merchants who want a stable price. Coinbase did a great job of doing instant fiat conversion for merchants. We are trying to do the opposite and protect the purchaser from volatility by guaranteed price and merchant with premine. RC merchants have good profit margins and don't mind taking a little less profit to extend the base to new customers, just not too much. Can I guarantee you 100% it will work and we will achieve our aims? of course not I am not stupid and understand the risks of crypto and not going to try and bravado it out to say we are the messiahs of adoption and can do anything. What I can say is that we have thought the plan through very carefully done the maths and will do our utmost to get where we want to be.

smalltimer

sr. member

Activity: 252

Merit: 250

you say "we are offering you a guranteed rate independant of exchange volatility."

i do not believe that. Please do if you can but i think 1 year from now the rate will be very different than it is today. (up or down i don't know)

If you have enough products to purchase back all the coins and are prepared to do so that might be a completely different story.

In the long run to uphold a price peg better than exchange rate on the exchanges you'd need to have a good profit margin in your products but you likely have that.

Well, watching Wink

Good luck with the experiment then.

watch out for speculative bubbles though, because they can cost you big money (once they pop). You'd need to care to not hold your own coins in any great quantity in that kind of situation. But can still work out if you after selling products immediately convert the coins to fiat or btc.

Oh the price peg.
You'd need to be pumped and dumped a few times to see how reliable you can peg the price. Wink

EuphoriaCrypto

member

Activity: 70

Merit: 10

Quote from: smalltimer on November 28, 2014, 04:32:38 AM

Quote from: EuphoriaCrypto on November 28, 2014, 04:28:00 AM

because we are offering you a stable price on the product independent of exchange volatility the coin is a derivative of the asset (chems). We are not selling our product for crypto plain and simple because we are offering you a guranteed rate independant of exchange volatility. we are backing your purchase with our asset by taking a loss against exchange and using our premine to stabilise that. The coin becomes a derivative of our stock. The fact is it is not possible when a coin is simply a week old without wider adoption and support to have a once and final rate. We need to do it in increments.

interesting concept. Did you think about the fact that when you are offering a guaranteed rate better than exchange on free market in the long run you will not be able to sustain that because it would also mean you pay out of your own pocket for the costs of running the network, right?

You will in the long run be short by 4% a year (the pos inflation)

well, our margins are considerably more than 4% and our paypal fees for fiat are well over 2%. If it means we get into a wider audience and more customers then the small loss is more than acceptable.

smalltimer

sr. member

Activity: 252

Merit: 250

Quote from: EuphoriaCrypto on November 28, 2014, 04:28:00 AM

because we are offering you a stable price on the product independent of exchange volatility the coin is a derivative of the asset (chems). We are not selling our product for crypto plain and simple because we are offering you a guranteed rate independant of exchange volatility. we are backing your purchase with our asset by taking a loss against exchange and using our premine to stabilise that. The coin becomes a derivative of our stock. The fact is it is not possible when a coin is simply a week old without wider adoption and support to have a once and final rate. We need to do it in increments.

interesting concept. Did you think about the fact that when you are offering a guaranteed rate better than exchange on free market in the long run you will not be able to sustain that because it would also mean you pay out of your own pocket for the costs of running the network, right?

You will in the long run be short by 4% a year (the pos inflation)

To keep it up you need to guarantee a rate at least 4% below exchange price at exchanges. But you're dominated by the volatility in any case.

EuphoriaCrypto

member

Activity: 70

Merit: 10

Quote from: smalltimer on November 28, 2014, 04:11:17 AM

"Current price peg on our store 1EUPH:1500SAT" (from OP)

you can not call your coin 'asset backed' if you change the purchasing power of the coins in regards of your products. What you do here is just sell your products for crypto. Plain and simple and nothing fancy. Do you know coinpayments.com?
Since when can a coin that is just accepted by a merchant claim it would be backed by that goods? Check your vocabs to avoid confusion.
This coin just comes with a shop and that's it. No real 'backing' of any sort takes place.

The case would be a different one if you would go ahead and say 'this product xy will ALWAYS no matter what happens cost the same amount of coins' but the moment you do that trading the coin becomes senseless but you'd have a stable (and trust based) crypto.

Oh, the asset backing Roll Eyes

please correct in the OP and party on. This coin is not and probably never will be "asset backed".

because we are offering you a stable price on the product independent of exchange volatility the coin is a derivative of the asset (chems). We are not selling our product for crypto plain and simple because we are offering you a guranteed rate independant of exchange volatility. we are backing your purchase with our asset by taking a loss against exchange and using our premine to stabilise that. The coin becomes a derivative of our stock. The fact is it is not possible when a coin is simply a week old without wider adoption and support to have a once and final rate. We need to do it in increments.

smalltimer

sr. member

Activity: 252

Merit: 250

"Current price peg on our store 1EUPH:1500SAT" (from OP)

you can not call your coin 'asset backed' if you change the purchasing power of the coins in regards of your products. What you do here is just sell your products for crypto. Plain and simple and nothing fancy. Do you know coinpayments.com?
Since when can a coin that is just accepted by a merchant claim it would be backed by that goods? Check your vocabs to avoid confusion.
This coin just comes with a shop and that's it. No real 'backing' of any sort takes place.

The case would be a different one if you would go ahead and say 'this product xy will ALWAYS no matter what happens cost the same amount of coins' but the moment you do that trading the coin becomes senseless but you'd have a stable (and trust based) crypto.

Oh, the asset backing Roll Eyes

This coin is not and probably never will be "asset backed". Calling it so is misleading.

please correct in the OP and party on.

EuphoriaCrypto

member

Activity: 70

Merit: 10

Quote from: HKBvM on November 28, 2014, 03:58:47 AM

Quote from: EuphoriaCrypto on November 27, 2014, 05:09:33 PM

Quote from: solid12345 on November 27, 2014, 05:08:04 PM

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money Roll Eyes

Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

because it's not only going to be one webstore. We are already talking with other uk retailers about accepting euph and are in discussions with a US retailer about a domestic partnership there. As it stands our premine that we have held will not go very far for using as subsidy with other retailers so they can be guaranteed a stable price and also won't go very far subsidising peoples orders. The lesss euph are spent per order the easier it is for us to be able to use our stash to stabilise the price and the wider we can get adoption.

Think of it like this, if there are 1000 euph to 0.5 gbp then if we have to subsidise an order or another merchants order to the tune of 5 gbp then we need to use 10000 of our premine. If there are 10 then we use 50. The less of our premine we have to use the more we can stabilise and entice other retailers to take the opportunity to spread to a wider audience.

Look I appreciate that 0.5 is a very ambitious target but you have to aim high and see where you can go in life.

HKBvM

sr. member

Activity: 398

Merit: 250

Quote from: EuphoriaCrypto on November 27, 2014, 05:09:33 PM

Quote from: solid12345 on November 27, 2014, 05:08:04 PM

Question, if the price ends up going beyond 1500 will the peg go higher?

yes of course, at 1500 peg goes to 2k and at 2k it goes to 3k and at 3k it goes to 5k

and so on and on until we reach the stated 7.8M USD marketcap (1 euph = 0.5GBP). All this is backed by the very same webshop.

Hurray, we have found a new way to endlessly print money Roll Eyes

Serious question:

Why would you as the owner of the webshop even want to rise the peg? You said you want a stable currency, you can have that at the current peg.

CryptoClub

legendary

Activity: 1470

Merit: 1000

cryptocollectorsclub.com

Quote from: anticlimax on November 27, 2014, 05:12:43 PM

Dev has impressive profit margins.. Me thinks.

People that buy this crypto might have them as well.

EuphoriaCrypto

member

Activity: 70

Merit: 10

Quote from: anticlimax on November 27, 2014, 05:12:43 PM

Dev has impressive profit margins.. Me thinks.

they are not bad for sure. Like any industry if you buy in good bulk prices drop very significantly. Our prices are competetive with any chems seller but in the industry margins are quite good if you have the right contacts with labs and buy the right amounts.

anticlimax

legendary

Activity: 1050

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Dev has impressive profit margins.. Me thinks.

EuphoriaCrypto

member

Activity: 70

Merit: 10

Quote from: SnjafSnjaf on November 27, 2014, 05:01:57 PM

Quote from: EuphoriaCrypto on November 27, 2014, 04:45:54 PM

new peg now 1500 SAT

Well, i think that we will see some dumping first since big reward blocks are coming closer...

yup definitely possible, thats what our premine is for, to protect us against this volatility.

Topic: Euphoria X13 asset backed Buy research chemicals WEBSTORE LIVE - page 33. (Read 97070 times)