Magic Internet Money is the everyday currency

magicINTERNETmoneyMagic Internet Money (MIM) is a crypto currency system like none created before. MIM is designed with an intentional unlimited supply that helps promote spending rather than hoarding. MIM is similar to the currency that we use for everyday purchases of goods and services but solves many of the problems that make traditional fiat currency unattractive.

Each MIM transaction is

  • instant
  • transparent
  • pseudo-anonymous
  • globally secured

While the value of fiat currency is only backed its supply, a MIM is backed by a globally distributed network of computers that are in charge of confirming transactions and issuing new money independently of any government or central bank. With MIM, we know exactly when and how much new currency is being created. We know that every year, till the end of time, 10 billion new MIM will be introduced into the economy.

Like Christopher Franko predicted on Madbitcoins altcoin special, there will be many variations of cryptocurrency that satisfy many different needs. MIM satisfies the need for an honest fiat currency system that can be used for everyday purchases and grows in tandem with the population. MIM relieves mankind from the worries of central corruption and ensures everyone that there is enough to go around thus promoting spending.

Source: https://bitcointalk.org/index.php?topic=464184.0

Posted in Community, Cryptocurrency, Information
One comment on “Magic Internet Money is the everyday currency
  1. Ashford says:

    14 Billion MIMcoins the first year, 10 billion per year after that.

    I’m surprised they picked a static inflation coin amount per year, instead of a variable coin growth rate by using a fixed percentage of inflation. That is, 10 billion inflation after year 1 is 71% inflation, year 2 is 41%, year 3 is 29%.

    It seems like a fixed percent of inflation (e.g. variable number of coins produced each year) would result in a more stable coin price and better unit of currency.

    So 14 billion, then 2.1 billion (15%), then 2.4 billion, then 2.7 billion, etc. would achieve a more stable price.

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