♦ [ ANN ][ MIM ] ♦ Magic Internet Money ♦ MERGE MINE WITH FRK NOW! ♦

[scottii]

[kidyubyub]

+1

[BitCoinPokerBro]

Block 1 gives a 0.1% Premine.

Premine of 90 Billion coins?

[TheMightyX]

Block 1 gives a 0.1% Premine.

Premine of 90 Billion coins?

according to OP:

Distribution
1st Year 14,824,000,000
From then on 10,512,000,000/yr (still not as bad as the federal reserve)

Premine should be 14,824,000 shouldn't it?

Can anyone confirm a 90 bill premine?

[Alexbalix]

Block 1 gives a 0.1% Premine.

Premine of 90 Billion coins?

according to OP:

Distribution
1st Year 14,824,000,000
From then on 10,512,000,000/yr (still not as bad as the federal reserve)

Premine should be 14,824,000 shouldn't it?

Can anyone confirm a 90 bill premine?

It's 0.1% of the total 1 trillion coins, which equates to a one billion coin pre-mine.

[TheMightyX]

Block 1 gives a 0.1% Premine.

Premine of 90 Billion coins?

according to OP:

Distribution
1st Year 14,824,000,000
From then on 10,512,000,000/yr (still not as bad as the federal reserve)

Premine should be 14,824,000 shouldn't it?

Can anyone confirm a 90 bill premine?

It's 0.1% of the total 1 trillion coins, which equates to a one billion coin pre-mine.

Good, that sounds a bit better.
Not sure where he got 90 billion from.
Where do you see the maxcoins though? The OP made no mention of 1 trillion.

[Alexbalix]

Block 1 gives a 0.1% Premine.

Premine of 90 Billion coins?

according to OP:

Distribution
1st Year 14,824,000,000
From then on 10,512,000,000/yr (still not as bad as the federal reserve)

Premine should be 14,824,000 shouldn't it?

Can anyone confirm a 90 bill premine?

It's 0.1% of the total 1 trillion coins, which equates to a one billion coin pre-mine.

Good, that sounds a bit better.
Not sure where he got 90 billion from.
Where do you see the maxcoins though? The OP made no mention of 1 trillion.

It's listed here under CoinCap https://github.com/magicinternetmoney/mim

Edit: It was also mentioned by the dev in post #29

I'm curious how you determined what a pre-mine of  0.1% is with a coin that has an eventual unlimited supply. Could we get what the premine was in terms of coins?

Sorry its 0.1% of 1 trillion im sorry. Which will take roughly 100 years to create.

[TheMightyX]

Removed due to misinformation.

[Alexbalix]

I'm curious how you determined what a pre-mine of  0.1% is with a coin that has an eventual unlimited supply. Could we get what the premine was in terms of coins?

Sorry its 0.1% of 1 trillion im sorry. Which will take roughly 100 years to create.

Isn't it kind of sneaky to take a premine for coins that wont exist for 100 years or may never exist at all?

If they took a premine of all the coins that would exist in 100 years that would be roughly 1,004,000,000 (0.1%).
So they took a premine of coins that wont even be mined until long after were dead? Are you fucking kidding me?

To put it in perspective:
The developer holds more coins now than everyone in the world will mine collectively for over 8.5 years.

Who is dumb enough to support this coin?

Your math is just wrong. In the first year there will be 14,824,000,000 coins mined. Nearly 150 million have already been mined, plus the devs are releasing plenty through giveaways, faucets, and bounties.

[TheMightyX]

Shit i was reading 90 billion again XD
first year 14,824,000,000 + (10,512,000,000 * 7 years) = 88,408,000,000
Don't I feel dumb. I'll remove that last post.
Though I still don't think its right to take a premine of coins that will never be mined (let's face it, bitcoin/dogecoin/MIM will be replaced by something better within 50 years, let alone 100).

[eon89]

I find it funny that the bitcoin ads on reddit say "Magic Internet Money"

[scottii]

*Developers


The blockreward for the first month is 40k.

$blocksPerMonth = 86400;
$blockReward = 40000;

$blocksPerMonth * $blocksReward = 3456000000

So the premine is equliviliant to About 1 weeks worth of mining.

[Cyriaque5962]

LgwNqrvuHB2MW8hBZy9gtYs6p4mnojQXiC

Thank you !

[erok]

[Bfljosh]

Selling 8.000.000 Mim coins.

Pm me with your offer.

[erok]

[PinkPotatos]

HAHA!

[instacalm]

The 5 million MIM faucet seems to be empty already, will you fill it up again?

[scottii]

The 5 million MIM faucet seems to be empty already, will you fill it up again?

Hell NO ! the Community is responsible for this !

Looks like someone greedy used a bot to drain the faucet so if you want free mim you have to come to

http://webchat.freenode.net/?channels=mimcoin

until we add email verification.

[instacalm]

The 5 million MIM faucet seems to be empty already, will you fill it up again?

Hell NO ! the Community is responsible for this !

Huh? As far as I know the actual plan is to distribute lots of MIM in order to raise awareness and there should be much more the devs want to push out. Please make sure to protect the faucet by email verification though.

edit:

Looks like someone greedy used a bot to drain the faucet so if you want free mim you have to come to http://webchat.freenode.net/?channels=mimcoin until we add email verification.