Many people have suggested that emunie may be our biggest competitor so I would like to address their claims. They use some similar language but the reality of what they are doing is VERY different.
With eMunie we have looked at these issues in great detail, and believe we have a solution, that will ensure a fair, stable, honest currency value that does not dilute the holding of any single person in the system anywhere.
This sounds good except that they then claim this:
These generated eMu's will have "value" as the hatchers have performed real world work to acquire them, however, a caveat of this, is that as the system load increases, and more work is done by more hatchers, these eMu's increase in deemed value, thus devaluing the already present eMu's in the system....and thus acts like traditional INFLATION.
Which they then claim to "fix" by paying interest:
To combat this inflation due to the effect of the increasing work in the system, a portion of the supply eMu's are passed to the accounts already holding eMu as "interest". Interest is calculated as the current annual % increase in eMu supply, as per demand, plus a % increase to ensure equilibrium. This ensures that while the new supply of eMu entering into the system may have higher "value" due to more work done to achieve them, all other eMu's in the system, while worth less, are topped up with new, more valuable eMu to guarantee that stake holder of current eMu does not loose out.
The interest is meaningless to combat the inflation caused by 'hatching' and merely serves to hide the transfer of wealth and confuse the issue. Suppose the Federal Reserve printed 10% of the money supply and gave it to their friends, but then said it was OK because they are going to pay everyone 10% interest as well. All they achieved was to hide the fact that they diluted the dollar by 20% and kept half of the dilution for themselves.
Thus as a DAC emunie is losing money just like everyone else except Ripple and BitShares. Their interest is mere illusion and accounting trickery and has no economic meaning at all.http://forum.emunie.com/index.php/topic/139-emunie-latest-technical-and-feature-set-ramblings-29th-june-2013/