Clearing up doubts about Faircoin. How is the price determined?

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With this post we aim to answer doubts and questions related to Faircoin and its price, given the different ways to acquire it, and in order to contribute to transparency throughout the FairCoop project.

One of the most important questions about Faircoin is how its price is set up. All those who already have experience with cryptocurrencies know that nowadays there are mainly two ways of trading them: through exchanges (on line exchange markets where you can exchange between cryptocurrencies), and exchanging them for fiat currency (Faircoin is currently in Bittrex and Bitsquare).

It is through purchases and sales made with these exchanges which decides the price of a cryptocurrency, and therefore also facilitates the speculation and volatility that we see today: one of the major handicaps for its widespread adoption. Participation in these sites cannot be avoided, since Faircoin is decentralized and any business can decide to trade it. Nevertheless, we know that the future of Faircoin does not depend on speculation nor volatility. Also, one of the objectives of FairCoop is to sustain the value of the savings of people involved in it, so we cannot accept its purchasing power being affected by speculative factors. These reasons prompted us to create a unique pricing system that complies with the values and objectives of both FairCoop, the project which is closely linked to Faircoin, and the cryptocurrency itself.

Therefore, more than a year ago, we democratically dedided that, in order to combat these issues and bearing in mind that the objective of Faircoin is to be a fair currency that serves the real economy, we were going to set a fixed price so that anyone who started to use it; both customers and merchants, had a stable reference price. Some months later, we also committed to exchange Faircoin back to fiat currency, at this same reference price, for merchants that were accepting Faircoins as a means of payment and needed to change them into Euros in order to continue their commercial activity.

As part of the development and facilitation for everyone in the acquisition and use of Faircoin, in a manner consistent with the values and objectives we embody, we created our own exchange platform from official money to Faircoin, Getfaircoin.net, where you can buy Faircoins at this fixed price: 20 Faircoin = 1 Euro. Of course, you are free to buy your Faircoin where you prefer, but we would like to count on you to help us achieve the goals set and create a new economic, financial and monetary system, regardless of greed and manipulation, and of the imbalance of power towards a few that has led us all to disaster.

At that time, we decided on a reference price with the Euro, because it is the main monetary area where FairCoop and Faircoin have been established, but the same could be done when there is judged to be sufficient need in other areas that require direct price stability between their official currency and Faircoin. So we hope that, in the near future, decisions to exchange to other currencies like the Swiss Franc, the Argentine Peso or the US Dollar are established; always of course consistent with the principles of FairCoop.

Importantly, it should be pointed out that this price is the minimum that we set, but as the community grows, and Faircoin is getting stronger and increasingly incorporating more real economic activity related to this new monetary alternative, its value will grow and so this will be reflected in the price of Faircoin at Getfaircoin.net.

Hopefully this will have have clarified your doubts about the price, so the next step is to get some Faircoins. Initially, for this you need to have a wallet to store them in (https://2017.fair.coop/?get_group_doc=26/1447331472-FairCoinUsersGuide.pdf ) and enter our website, getfaircoin.net, in order to acquire Faircoin in the way that is most comfortable for you: with cash through a POE (physical point of exchange), through a bank transfer, or using credit / debit cards.

Now that you have your Faircoins, you can save them, so you can contribute to creating and strengthening the value of the currency, or spend it in places where Faircoin is accepted – which you can find in the use.fair-coin.org directory or also in the new on line market: FairMarket.

Ultimately, if you are one of those people who think we cannot remain submissive in a world where the refugees fleeing the wars we ourselves have caused in their countries are then deported to unsafe places; just one example of the misery mostly caused by the greed of a few – the same few that later hide the money in tax havens – money based on debt and created out of nothing, then don’t hesitate, be a part of FairCoop, acquire your Faircoin in Getfaircoin.net and enter the new economy based on solidarity, the common good and respect for all life.

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