[ANN] [Live] 🔵 MonetaryCoin series 🔵 - Algorithmic Money Supply

[ProtocolDroidMC]

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MonetaryCoin is the first cryptocurrency to implement a macro-econometric oracle feature to endogenously govern its own maximum supply once forged (i.e. mined) to an initial limit. A MonetaryCoin may exist for each country or currency area that reliably reports GDP, and is initially calibrated to not more than 1% of the “M2” money supply so as not to disturb the ability of a central bank to target price stability and full employment.

 

100% of coins are available to the community at https://MonetaryCoin.io.


MonetaryCoin is compliant with ERC-20 and has three key features and a supporting foundation.

First, coins are generated via proof-of-stake forging.
Second, stakeholders may elect to add (optional) personal information to satisfy anti-money laundering, know-your-customer regulations.
Third, once fully distributed, the rate of change in the supply of a MonetaryCoin parallels the rate of change in the GDP of a subject country or currency area (monetarism).


Algorithmic Money Supply


Monetarism’s limitations are well understood, and today most central bankers instead apply a variety of tools in pursuit of an inflation target, rather than a money quantity target only. The coin serves as a simplified alternative to domestic fiat so that residents may select away from the short-run decisions of their central bank while still retaining money linked to the long-run progress of the national economy. Because the starting number of coins is capped at not more than 1% of the current M2 per country, MonetaryCoin is designed as a value-added companion to an existing money supply.

The Monetary Protocol White Paper opens with three quotations from three leading authorities on macroeconomics. Why? Ugh! Because it’s the folks who study money and exchange all day that sometimes deserve the attention of the crypto community. They are…
Prof. Milton Friedman,
The Board of Governors of the Federal Reserve System
Prof. Joseph Stiglitz.



#1 Milton Friedman: Computers can run a money supply…theoretically

“As some of you may know, my monetary studies have led me to the conclusion that central banks could profitably be replaced by computers geared to provide a steady rate of growth in the quantity of money.”
Milton Friedman, 1976 — Nobel Prize — Economic Sciences (1976)


#2 The Fed: Monetarism has application today…but there is more to the story

Milton Friedman in his Nobel Prize acceptance speech sheepishly admits his theory failed in many respects but was nonetheless highly revealing. What was most revealing about it? Inflation comes from the central bank, no other theories need apply. So how does the central bank think about his theory today?

#3 Joseph Stiglitz: Governments may ban crypto unless it can be regulated

“So it seems to me it [bitcoin] ought to be outlawed. It doesn’t serve any socially useful function. If the government says ‘the reason bitcoin is being used is circumvention,’ they could close it down at any moment, and then it collapses.” (Costelloe, 2017)
Joseph Stiglitz, 2017 — Nobel Prize — Economic Sciences (2001)


Read full article: Algorithmic Money Supply






An econometric oracle securely feeds economic data into the blockchain. Fro example, the MonetaryCoin oracle for MERO answers two questions:
(1) how many MERO can be issued to the mining (i.e. forging) pool and
(2) under what circumstances may they be issued to the pool.
Harness data reported by central banks, apply a simple mathematical formula, execute the formula with cryptographically secure machine instructions, and you have synthesized the essential quality of central bank credibility; restraint. But people have to know that this well tuned system exists, kind of like the doomsday machine in Dr. Strangelove. It only works if people know about it.

Read full article: Macroeconomic Oracle


With MERO, MCHI or any expected member of the MonetaryCoin Series one may self-identify without permanently identifying. How? You enter your AML-KYC (anti-money laundering - know your customer) information at the wallet level, and then later abandon the wallet if you don't want to be identified in future transactions. A hash of the AML-KYC data is stored on the blockchain but only the recipient address owner can attach the hash to a off-chain data and decrypt its content.

Read full article: Optional KYC


MonetaryCoin Blog

Our primary core devs are:

Paul Laux → Co-Inventor and lead developer
https://github.com/PaulLaux

SagroVesk → Audit
https://github.com/SagroVesk

Primary non-development member:

ProtocolDroidMC → Co-Inventor and researcher
https://github.com/ProtocolDroidMC

The Next Step: Some Links

Homepage: https://MonetaryCoin.org

Bounty: https://bitcointalk.org/index.php?topic=4565673

Telegram: https://t.me/MonetaryCoin

White Paper: Monetary Protocol Whitepaper.pdf



JUST DROPPED: MonetaryCoin Forging DApp + source

MonetaryCoin Distribution Dapp(pre-sale)



Blog: https://medium.com/monetary-protocol

Distribution DApp: https://MonetaryCoin.io

Smart Contracts: https://github.com/Monetary-Foundation/MonetaryCoin

Smart contract Audits: https://github.com/SagroVesk/MonetaryCoin-Audit/releases

Monetary Foundation on Github: https://github.com/Monetary-Foundation

English explainer video:


Contact Us – General Inquiries: monetarycoin@protonmail.com

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[ProtocolDroidMC]

Chinese Explainer Video
https://youtu.be/9MZUduCpY9Y

[Feetshot]

Hi! I just came to know about this project so don't have clear idea. I will check whitepaper and other documents for more info. But I always wanted to take professional help for crypto trading. It's seems that finally I found something interesting.

[Praetorian.1legion]

The question. You create a new coin. Already created more than a thousand different coins on technology Buterina. What are you more attractive than others? Take into account, when Buterin created his etherium, he had only bitcoin in his competitors.

[ProtocolDroidMC]

MonetaryCoin Japanese Explainer Video
https://youtu.be/vQzAT8hmWMA

[ProtocolDroidMC]

"The question. You create a new coin. Already created more than a thousand different coins on technology Buterina. What are you more attractive than others? Take into account, when Buterin created his etherium, he had only bitcoin in his competitors."

Answer: The cap on the number of coins available for forging is set by the following formula: # coins outstanding x (1+ % change in GDP for the country or currency union) = new supply of coins available to mine.

How is it done? MonetaryCoins use an econometric oracle tied to Bloomberg data.

Euro MonetaryCoin and China MonetaryCoin are both available today at www.monetarycoin.io.

In the case of negative GDP growth we use a novel construct called M5. See the whitepaper for more detail and thanks for your question.

[mangkel]

a very good potential for future release by MonetaryCoin, I think it's going to be a lot of support because they are as promising investors

[paullaux]

Created step by step guide and video tutorial for the distribution app.




MonetaryCoin distribution Guide


MCoin video tutorial




Feedback appreciated

[ProtocolDroidMC]

Published "milkshakes-and-mining-rigs" on Medium:

https://medium.com/monetary-protocol/milkshakes-and-mining-rigs-monetarycoin-and-proof-of-stake-3cd37946a2a9

[Ipupin]

promising projects
MonetaryCoin is the first cryptocurrency to implement macro-econometric oracle features to endogenously manage its own maximum supply after being falsified (ie mined) to the initial limit.

[ProtocolDroidMC]

Added English explainer video:

[ProtocolDroidMC]

posted MonetaryCoin: The Return of Monetarism

[kemancok]

this project has a brief but clear explanation on the thread.
after I see and learn more from the website. I believe this project will be superior to other projects with the same concept.

[kunh0zdn]

Vietnamese translation:
ANN thread: https://bitcoingarden.org/forum/index.php?topic=41995.msg300115#msg300115
Bounty thread: https://bitcoingarden.org/forum/index.php?topic=41995.msg300128#msg300128

[ProtocolDroidMC]

Published on Medium:
Blockchain’s First Econometric Oracle and the MonetaryCoin Series
-How I learned to stop worrying and love the Oracle

https://medium.com/monetary-protocol/blockchains-first-econometric-oracle-and-the-monetarycoin-series-4fd051894481

[ProtocolDroidMC]

MonetaryCoin Spanish Explainer Video

https://www.youtube.com/watch?v=rk0m27WQKw0

[stronger2]

with the creative concept of going to a lot of investors join in this Monetarycoin project allocation of reward to bounty was also larger in the future hopefully this project can run smoothly

[jayakati]

one of the projects that have great prospects for the future because it brings a very innovative concept, and I think this project deserves to gain a lot of support. Hopefully the project always runs smoothly until success could be achieved.

[ProtocolDroidMC]

MonearyCoin Distribution DApp explainer video

https://youtu.be/BbH_bYwif_o

[ProtocolDroidMC]

Elective AML-KYC and the MonetaryCoin Series
https://medium.com/monetary-protocol/elective-aml-kyc-and-the-monetarycoin-series-ef681f8f59ee