On the site you will find "indicative quotations" in "fiat currency" (lei) of gold, silver and convertible minutes (MIN).
In the case of parity with lei, as a convention, it started from a conservative reference of 2.14 lei / 1,000 MIN, which took into account the money supply of lei at the end of 2023, communicated by the BNR, the update then being done monthly, in correlation with the excessive official monetary inflation. Also as a comparison term, a reference to the global monetary mass would have generated a starting value not very different, of approx. 3.9 lei / 1,000 MIN, if we refer to the euro, the same methodology would have given an estimated result of approx. 14.4 lei / 1,000 MIN, and in USD - about 18 lei / 1,000 MIN. If we refer to global net assets, we could talk about an equivalent of 25-30 lei / 1,000 MIN. It is certain that all quotations have an upward trend.
The value is less important, the trend is more important, but probably any indicative valuation range between 1 and 30 lei / 1,000 MIN is realistic enough, at the national, European and world level, at the level of 2023.
Here, the MIN is also revealed as a tool for preserving value, a function of money with decisive importance.
These quotations are not mandatory and are dynamic, taking into account the official exchange rate (in real time) of the two metals, as well as the volume of the monetary mass of lei, its evolution, adding a "premium" intended to stimulate the use by the payers of the respective goods, considered by us to fulfill the conditions of correct instruments of exchange, of "real currencies" (gold, silver, time). Anyway, this "premium" only anticipates an inevitable evolution of the courses in the current, inherently inflationary context. Prices in MIN for all types of "resources" (time, skills, competences, nature, goods and services) will be dictated exclusively by the law of supply and demand, but in a stable context and monetary equilibrium.
It is also important to specify the fact that, we do not think that in the case of MIN we can talk about a "virtual currency" / "cryptocurrency" / "digital representation of value". And we are not a "provider involved in exchange services between virtual and fiduciary currencies", but - possibly, rather we could talk in the case of MIN about a possible "complementary", "alternative" currency, better said about a "voucher " / "point" / "token" / "monetary representation of the passage of time" / "electronic record of the passage of time" / "counter" / "stopwatch", which measures the minutes passed in the life of each member of the community, regardless of the time entering the community, as well as records of transfers.
It can also represent an alternative means of measuring value and exchange, people can transfer their account numbers to each other, if users choose to use it this way, but it is not related to "blockchain" technology.
The existing "fiat" currencies do not have an intrinsic value, therefore there is not really such an engaging exchange rate with them, although - to provide guidelines - we have also made such a tool available on the site, there are arguments behind the values. Individuals and communities can do whatever they want, because even the fiat money they own is part of their assets, they have it because they previously sold resources / time to others, so they can sell it in exchange for what they want, implicitly MIN, what course is he considering? MIN has full coverage in resources, with "time" as a benchmark, and the exchange rate fluctuates freely. The estimate is that, due to the circumstances, it will evolve relatively gradually increasing.
But nothing is sold or bought with Minutes Bank as an active participant, at Minutes Bank there is no commission, income or profit in any "fiat" currency from the possible "transactions" of community members. The monetary system based on the standard "time" and "convertible minutes" (MIN) proposes not to interact with the system considered, argued, as "disputable" (not to say "fraudulent") of "fiat" money, issued and allocated discretionary and without coverage. They only work within the community thus created.
We emphasize, the objective of the project is not speculation, we do not generate and sell MIN, requesting that we buy something with "fiat" money or with precious metals. It is a social project, generating possible complementary regional currencies.
We consider the only valuable resources to be people's time, skills and competences, natural resources and physical capital, what actually exists on Earth. In principle, only these can be engaged in exchange processes.
Indicatively, perhaps a report could be made to BTC, to gold, silver or even to "fiat" currencies, if we take into account official rates or monetary masses, quantities, to provide benchmarks and stimulate acceptability, cashing in "real" currency (gold, silver, MIN), we did it.