Shift in FairCoin exchange rate

This concerns all those who use FairCoin in their transactions, since they need to be updated and adapt these to the recent exchange rate with the Euro. As it is already known, this exchange rate is determined by consensus at FairCoop’s open global assembly while, for almost 2 years now, it has been stable at 0.05 € (or 20 FairCoin = 1 €) . Now, after the last assembly, on 11th of May 2017, we have decided that the value of the currency should increase to 0,0667 € (15 FairCoin = 1 €).

This decision is in the interest of all those who use FairCoin in their day-to-day transactions, trust it as an alternative mean of saving and generally support our collective efforts to build a fair economic system around the world. But most importantly, it greatly enhances our common reserve funds to support subversive and radical projects, as well as to expand the structures of the FairCoop ecosystem itself. Of course, our decision was not based solely on subjective criteria, nor was it rushed, since it has been discussed for some time in the context of a more comprehensive strategy we are developing.

It is well known that FairCoin, compared to many other cryptocurrencies, is quite underestimated and our goal is to gradually acquire its true value, one that will respond to our dynamics. The FairCoop ecosystem is strengthened and expanded continuously with new tools, members, services, and local nodes. In addition, the recent course of the currency in cryptocurrency markets (eg Bittrex) has demonstrated this increased demand and confidence of the community so, although this is not the most important criterion, it was the best time to move on to this increase to its exchange rate.

Nevertheless, our ultimate goal is to make FairCoin a currency that will stand out from the rest, not for its monetary value but for its qualitative features such as:

  • Stability of its price so that it continues to be a currency for our daily transactions, and not a profit-making tool exploited by the few.

  • Support by its users and the FairCoop ecosystem, which ensures that its value will not fall off in any way.

  • Direct-democratic and open participation in its formation.
  • Easy and inexpensive access from all over the world.

We consider this decision to be a milestone on our common course and it certainly fills us with power and will to move forward. In any case, we also want your participation and collaboration in all the above. You may inform yourselves and participate in one of the three (3) FairCoop Local Nodes that already exist around Greece, which are expanding and strengthening everyday:

Athens Local Nodeathens@getfaircoin.net

Thessaloniki Local Nodethessaloniki@fair.coop

Heraklion (Crete) Local Nodeheraklion@fair.coop

Can’t find one near you? Go on and start your own Local Node then. Find out how! 😉

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