Minco.me

Freedom is not free

The price is Mincome

A local-focused social-capital cryptocurrency experiment

Inspired by Dauphin, Manitoba experiment

Mincome is a monetary system, social support network, or other type of social and capital arrangement which ensures every member of a community has a guaranteed minimum income. In Dauphin, Maintoba, this was done through the existing government social service channels, and paid for with taxpayer funds.

Did you just say free money, this is a joke, right?

Well, the joke is that instead of giving free money to the people that already have money, Mincome (the cryptocurrency) comes from newly created money (which is just magic numbers in a computer), as well as transaction fees (like the roughly 3% Visa gets for every credit card swipe) to everyone that chooses to register for one (and only one) mincome address.

But what about inflation?

If there's too much money, we get rid of some of it. If you have a lot of mincome, and want to save it, it's better if you buy something of value, like farmland. You can also buy shiny trinkets, like gold, or bitcoin. If there's not enough money, we just make more. But with a stable, algorithmically predictable money supply, real-human transaction costs go down. If we do this right, Mincome becomes the reserve currency and benchmark against which we measure most other forms of exchange.

How much is that worth?

If you want to 'make money', get coding and release RonPaulCoinXIIVI. Or Etherium.

More details/links/opinion:

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