As announced in this Bitcointalk thread, Minexcoin successfully completed its first stage of development and it now became open for the public.
The coin was developed by a closed group of professional programmers, economists and entrepreneurs, so little was known about it until today. As soon at it was posted to the forums, the project generated a lot of interest. Bitcointalk community members seem to be very interested and supportive regarding this new altcoin.
From what I’ve learned about the coin, its developers and their plans, Minexcoin has all it takes to become even more popular and more widely used than Bitcoin. In fact, this coin aims to become a commonly used currency just like US Dollars, but with the difference that it is decentralized and inflation-proof.
As with any new project of this magnitude, developers now need a team of people who would spread the word about this new cryptocurrency. Furthermore, they launched a bounty program that allows common folks like you and me take part in this project and get our share of the income.
I will get to it in a minute after I say a couple of words about what I believe makes Minexcoin stand out of the crowd.
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What Makes Minexcoin Better than Others?
Minexcoin was made to address a common issue that prevents most crypto coins from becoming popular. The issue is simple – most people agree that the centralized money system is flawed, but they aren’t excited about switching to crypto currencies since those are unstable and volatile. Prices of most crypto coins fluctuate so wildly that most vendors and investors are afraid of using them for serious deals.
There are several approaches to this issue – some coins are backed by gold (DGX), while others are attached to funds that are in private banks (like Tether tokens). Problem is – those measures either lack of transparency or the asset their value is attached to is immovable.
Consequently, those coins are always excluding at least one of the three groups of people who are interesting in using the coin (shopkeepers, investors and purchasers).
In other words, some people want to trade the coin the same way they do with classic currencies, while others want to use the currency as a long-time safe investment. The third group of people want to use it for little daily transactions; as we already know, there is no crypto coin that would satisfy all those different needs the way traditional money does – Or at least not until Minexcoin was released.
Minexcoin is meant to cover all those needs – it is an altcoin that has controlled annual growth, which allows medium scale investors profit from trading it. At the same time, it is stable enough to serve as a long-time investment, while its low volatility and great flexibility makes it a great choice for little daily transactions (product purchases, bills, etc.). In fact, according to the coin developers, it is supposed to be faster than Bitcoin.
A Little Bit More about the Dev Team
Minexcoin is based on an algorithm called ‘MinexBank’, which is meant to maintain MNC’s price in a predictable corridor. The idea was conceived by four people: Boris Shulyaev, Ruslan Babych, Vladislav Zaychuk and Daniel Shulyaev. Those are the four core members who created a successful team of economists and developers to make this altcoin reality.
All of the four have degrees and professional experience that has to do with the project, which allowed them to learn from the mistakes of others and create the first altcoin that has true potential to replace traditional money.
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How Can We Profit from It?
This is indeed an interesting topic; as any serious project, Minexcoin has a bounty system that incentivizes people to promoting it. They reward is being paid in MNC, and it greatly depends on how active you are. There is huge earning potential here – unlikely other projects, you can do way more than just liking their Facebook page.
The full list of Bounties with their respective rules can be found here: https://blog.minecoin.org/minexcoin-bounty-campaign-4413fea291f8
Minexcoin team offers different ways of contributing to the project. You can do as little as joining their Facebook group for 10 MNC, or you can go as far as becoming an official Ambassador and get an income stream of 200 MNC/month. Other options include participating in interviews, creating video content and sharing tweets, among others.
Also, if you know a journalist and would like to share their contact with the Minexcoin team, you can do that for a reward as well.
Be aware that the bounty campaign will only be active till June 13.
I believe that Minexcoin has some potential. The team is composed of professionals and it looks like they know what they’re doing. For more info, you can download the algorithm whitepaper here: https://minexcoin.com/html/download/wpeng.pdf
As for me, I haven’t found anything that can be compared to this project yet, so I will try to support it and get a couple of shares along the way.
If you’d like to give it a try too, I invite you to join here: https://minexcoin.com/ref/1025
Thank you for reading. As always, your comments, suggestions and questions are welcome.
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