Welcome to MyCoin, where your cryptocurrency always increases in value.
MyCoin is a new cryptocurrency that grows steadily in value month by month. This process of steady, but limited growth allows it to avoid the high volatility of other cryptocurrencies like Bitcoin or Litecoin. MyCoins will start with a penny value each and grow in value at an agreed upon rate of 21% monthly until each MyCoin is valued at $10 in January of 2020.
- Official release on Jan 3, 2017 (Bitcoin 8th anniversary)
- Avoids volatility by using a flat monthly increase of 21%
- MyCoin to be Valued at $0.01 on January 3 of 2017
- Intermediate value of MyCoin to be $0.10 in January of 2018
- Intermediate value of MyCoin to be $1.00 in January of 2019
- Final fixed value of MyCoin to be $10.00 in January of 2020
- Users of MyCoin agree to this rate of wealth increase
- MyCoin's value will be adjusted the beginning of each month
- Blockchain (Proof of Work) is updated every other minute
- Can handle up to 40,000 tx per minute*
- Harmony Debit Card (stage 2**) for easy use
- Absolute maximum number of MyCoins is 2 billion
- At $10/MyCoin, market capitalization will be $20 billion
* Note that Bitcoin has a maximum blocksize of 1 MB that is mined every 10 minutes. With a 250 byte transaction size, this results in only 400 transactions per minute. MyCoin has a maximum blocksize of 20 MB and is mined every 2 minutes. With the same byte transaction size, this will allow up to 40,000 transactions per minute.
** Note that stage two will require an open exchange as a prerequisite to issuing a debit card. While an open exchange will result in volantility, it will also allow for greater growth. This is a required growing pain for stage 2 in order to find it's final value. When this time comes, we will be more than ready to deal with it. This is necessary to determine a final and fair MyCoin market capitalization value. While no one knows the final value of MyCoin, a market value of just $20 billion could create up to a maximum 20,000 millionaires.