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

[matoy]

Guys,

Nobody wants to spread power a little bit?
Dencoin pool is still > 90% hashrate, that means no serious investor would invest in Magic Internet Money.

But i'm just saying... ;-)

-> Come on to http://mim.coins4everyone.com!

To get plenty of Magic Internet Money, just point your miners to:
Stratum: stratum+tcp://mim.coins4everyone.com
Port: 3449
Algorithm: scrypt
Username: Weblogin.Worker
Password: Worker Password
and then let the magic begin... We take care of the rest!

Benefits of Mining @ coins4everyone.com:
* based in Europe
* incredible uptime
* dedicated servers w/redundancy, DDoS protection
* only 1% fee
* pplns
* nice & caring support
* trustworthy & skilled admins

Come on, we need more hash power, point your miners to http://mim.coins4everyone.com and let’s spread hashrate! ;-)

let's do something fun...
if you make our pool http://mim.coins4everyone.com reach > 50MH/s for 24 hours, we'll do a 100k MIM giveaway.
we'll take the top 15 biggest hashrate miners (excluding ours), pick up randomly 2 people and give them 50k MIM each.

[defaced]

MAGIC!

[ggc1ose]

Is the coin getting multi raped?

[tazcatlicoatlus]

MAGIC!

Alakazam!



Knew this coin would pick up steam right after i started mining!  Still picked the perfect time to join though because theres a a lil while until the halving still

Now we just need a bunch of alchemists and occultists to join and help us are fine tune our magic 

[kyokahn]

I'll move to coins4everyone for a while, if I don't mine enough magic I'll have to move back to the big pool though :S It's just 210Kh anyway.

magic-me-up:

Ldht2BKbaPmxneNsRTj9rjvG7o5EDm2Xf7

[Oldminer]

Thread needs moar magic dust

[TheMightyX]

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

[ggc1ose]

I agree, lets have a fork and make the yearly extra 2bill instead of 10.

[btcltcdigger]

Thread needs moar magic dust

I'd let her blow my magic dust around

[amytheplanarshift]

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

You don't really understand basic economics. You are here to get away from inflation but don't understand why a deflationary currency simply DOES NOT WORK.

[PinkPotatos]

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

Aww thanks for your bolded text. It makes you look like your opinion matters!

MIM is designed to be LIKE A FIAT CURRENCY but also has the traits of a cryptocurrency. Like a distributed public ledger, and a predictable rate of inflation. No one is forcing you to use this version of FIAT.

Answering your "People are here to get rich quick."

1 mim  == 1 SAT
if 1 mim == 2 SAT
 you have DOUBLED your investment.

l2math n00b

[scottii]

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

Deflationary is great for commodities
Horrible for currencies.

Why? Basic economics.

[amytheplanarshift]

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

Deflationary is great for commodities
Horrible for currencies.

Why? Basic economics.

Sadly, many people who are into cryptocurrencies are not well-versed in economics or economic theory of any kind. Luckily this is a great place for people to learn though!

[scottii]

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

Deflationary is great for commodities
Horrible for currencies.

Why? Basic economics.

Sadly, many people who are into cryptocurrencies are not well-versed in economics or economic theory of any kind. Luckily this is a great place for people to learn though!

Which is exactly why I made this currency.

[scottii]

https://tipmim.info

Almost finished

[amytheplanarshift]

https://tipmim.info

Almost finished

Looking great!

[scottii]

Join us in chat.  The magic is going out everywhere.  =)

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

[erok]

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

So what you are saying is that it is a good store of value in the long run as opposed to most other coins which are get rich quick scams? I concur! Take care!

[racejs]

Is it still cheap to by MIM at 3 satoshi?

[amytheplanarshift]

Is it still cheap to by MIM at 3 satoshi?

I certainly think so.