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

[btcltcdigger]

For all the magic lowers, there's a MIM giveaway!

Go to:

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


Upon entering the channel:

1) Click on the link and vote for MIM
2) Type "!i believe in magic"
3) Step 2 is not dependent on step 1, but we'd apreciate if you don't skip step 1

[scottii]

mims has take over many coins in the past few days.  keep the votes going!  6 votes every hours for registered users, 3 votes for non-registered.

https://www.mintpal.com/voting

[SpiryGolden]

http://webchat.freenode.net/?channels=mimcoin Join the CHAT & KEEP VOTING !


https://www.mintpal.com/voting

[pocketbits]

New subreddit is /r/mim, I'm lovin' it
LgSNVSAjatreNeaFjzsyRkjmDytokZxLkA

[geturkt]

I believe in MIM!

LU8CnH1Fsd1AfnDE5JRvKMmHPxf8LP2b4h

[slntdth7]

Looking forward to this coin, and right now difficulty is so low even small miners are getting tons of coins

[pocketbits]

halving is near! LgSNVSAjatreNeaFjzsyRkjmDytokZxLkA

[slntdth7]

Halving IS very near, coins are easy to come by right now!

[HinnomTX]

Halving IS very near, coins are easy to come by right now!

After the halving, we should vote as a community to change MIM to be a deflationary coin.  

[pocketbits]

would be cool to have voting in a coin to change coin future!

[slntdth7]

Halving IS very near, coins are easy to come by right now!

After the halving, we should vote as a community to change MIM to be a deflationary coin.  

Explain deflationary

[pocketbits]

lol right now we are pumping coins into the economy, changing it to deflationary would mean less coins going out into circulation, increasing the value of each individual coin..it's nothing decided though, just tossing around suggestions

[slntdth7]

We need more marketing, need more interest in this coin

[ggc1ose]

Does the reddit tipbot work absolutely anywhere in reddit?

[pocketbits]

Does the reddit tipbot work absolutely anywhere in reddit?

Yessir

[SpiryGolden]

We need more marketing, need more interest in this coin

Come join our IRC channel we got bounties and MIM for those who dedicated their time . Contact Gokuson on IRC if you want too help or SpiryGolden that's me .

Does the reddit tipbot work absolutely anywhere in reddit?

Yes spread the magic !

[ggc1ose]

Does the reddit tipbot work absolutely anywhere in reddit?

Yes spread the magic !

Thats awesome we can go on gaming/hobby sections of our real individual interest and tip people.

And the name is very neutral and funny too so it doesn't feel like advertizing either.

[HinnomTX]

Halving IS very near, coins are easy to come by right now!

After the halving, we should vote as a community to change MIM to be a deflationary coin.  

Explain deflationary

You get deflation when you have a finite supply of coins to which unlimited fiat currency aggregates. Current examples are NXT, BlackCoin, and Premine. There are no new coins coming into existence with these currencies.

I would propose to the community and to the devs the following long term modifications to reduce the inflation in this coin.
1. Build in one more scheduled halving of the coin subsidy after 1 year to 5000 coins per block. This way, we would still see 14.8 billion coins created in the first year, on schedule. But after 1 year 'only' 5 billion coins would be mined each year thereafter.
2. Reduce the maximum number of coins to 125 billion. It will still take 25 years to mine all the coins.

MIM is at a disadvantage to other currencies because the initial price estimate for all coins is based on total coin population.
From this article:
http://cryptofrenzy.wordpress.com/2014/02/16/secret-price-formula-for-just-launched-coins/
Altcoin Initial value = (Total BTC Supply ÷ Total Altcoin Supply) ÷ 5000to10000

For MIM, you're modelling 'unlimited coinage' with a 1 trillion upper limit. On the optimistic side we get:
MIM initial value = (21e+6 ÷ 1e+12) ÷ 5000 = 0.4 satoshi

MIM might be estimated to be worth as little as 0.2 satoshi. Ouch. We are already seeing this play out in the markets, where MIM/BTC bids at 1 satoshi are pretty much gone now. MIM will end up being traded against Litecoin, and let's be honest, Litecoin markets suck. This is why I think we should cut the max population to get the coin over 1 satoshi value. (Coin reduction has happened successfully with other coins e.g. Kittehcoin). There's still plenty of inflationary magic and it will take a good while to mine all the coins.

HinnomTX

[defaced]

Halving IS very near, coins are easy to come by right now!

After the halving, we should vote as a community to change MIM to be a deflationary coin.  

Explain deflationary

You get deflation when you have a finite supply of coins to which unlimited fiat currency aggregates. Current examples are NXT, BlackCoin, and Premine. There are no new coins coming into existence with these currencies.

I would propose to the community and to the devs the following long term modifications to reduce the inflation in this coin.
1. Build in one more scheduled halving of the coin subsidy after 1 year to 5000 coins per block. This way, we would still see 14.8 billion coins created in the first year, on schedule. But after 1 year 'only' 5 billion coins would be mined each year thereafter.
2. Reduce the maximum number of coins to 125 billion. It will still take 25 years to mine all the coins.

MIM is at a disadvantage to other currencies because the initial price estimate for all coins is based on total coin population.
From this article:
http://cryptofrenzy.wordpress.com/2014/02/16/secret-price-formula-for-just-launched-coins/
Altcoin Initial value = (Total BTC Supply ÷ Total Altcoin Supply) ÷ 5000to10000

For MIM, you're modelling 'unlimited coinage' with a 1 trillion upper limit. On the optimistic side we get:
MIM initial value = (21e+6 ÷ 1e+12) ÷ 5000 = 0.4 satoshi

MIM might be estimated to be worth as little as 0.2 satoshi. Ouch. We are already seeing this play out in the markets, where MIM/BTC bids at 1 satoshi are pretty much gone now. MIM will end up being traded against Litecoin, and let's be honest, Litecoin markets suck. This is why I think we should cut the max population to get the coin over 1 satoshi value. (Coin reduction has happened successfully with other coins e.g. Kittehcoin). There's still plenty of inflationary magic and it will take a good while to mine all the coins.

HinnomTX

I think it would be a good idea. What does everyone else think?

[SpiryGolden]

If you want Deflationary and high quality coin TRY Franko . Next is inovative the rest aren't just experiements that already made and please don't mention that premine it's really a large scale scam  .

Thanks for your feedback and your calculus , i hope devs see it and express his opinnions too . Your idea seems legit and good . Cheers .