MFCoin. Ugly Black Duckling. First Crypto-Iron in the World.

You do not play the stock market. You have stable income transferred to your bank account regularly. You do not care whether the bank shares information on your account with any official bodies, since you are a law-abiding taxpayer. You have a couple of plastic cards and you can also pay in the supermarket via your smartphone directly. Bottomline, you are a great pal and your life is running smoothly. However, we have more kudos to you: you are the one who can change the world, its economical and social structure.

Our world was electrified not by Tesla or Edison. They did play their parts, but not as leading characters. The world was electrified by housewives and their reasonable husbands. They were the ones who closed the circuit of events in the first half of the 20th century. Electric bulbs and elevators represented the luxury segment of that time, less than 1% of the population, just a dozen blocks in major urban centers. Cities started to jerkily pre-empt sockets and copper cables thanks to the demand for electric irons and electric stoves. Within 70 years the mankind was looking for Faraday’s machine wide use until General Electric found its ‘gold mine’. Faraday was a genius, as well ad Tesla and Edison. Unlike General Electric who were just Edison’s successful project. They were producing household appliances which were not invented by them. Electric iron as it looks today went a long way from the initial invention and hundreds of inventors had their finger in the pie: installed the thermostat, fixed water supply, etc. Funny thing is, millennials do not need irons at all: jeans and tees conquered the world. And this world is fully electrified now. Kudos to the housewives! Now we can mine cryptocurrencies in this world covered in electric wires.

But you are a great fella and you do not need this cryptocurrency at all. It is a fact. If you have a spare fifty and are eager to try your luck, you will buy lottery tickets instead. No doubt, you are able to sort out all these encryption algorithms and hash issues and get the difference between POW and POS, as well as between Special Relativity Theory and General Relativity Theory. But you have one question: what for? You know why you need Facebook, YouTube, Airbnb and eBay. What about cryptocurrencies? When your friends infected by the crypto-virus suggest that you start buying these digital funny money, which will certainly appreciate in ten years just like Bitcoin did, you ask a reasonable question: how many variations of funny money were already issued? The answer, mumbled back, is: around ten thousand or so, it’s hard to say, every day new cryptocurrencies hit the market… You neatly change the topic not to insult this weird person.

This is the exact reaction any reasonable person in the middle of the 19th century would have, should he be offered to buy Faraday disc from a door-to-door sales rep. Unless, of course, this person is a curious scientific enthusiast, rare species that we still sometimes come across nowadays. Figuratively speaking, we at once invent and try to produce irons, kettles, toasters, vacuum cleaners for our cryptocurrency. Everything that makes our everyday life more comfortable. Let’s get over with the parallels with household appliances for now, since the technologies and the spheres of use vary too much.

What is the difference between our MFCoin and other cryptocoins? Zero difference. It is absolutely the same as the rest or maybe even a bit worse. Modern “Faradays” create their “brilliant machines for the better tomorrow” with amazing speed and tenacity. The currency does not differ. The approach does. We do not only design the coin, we also design the means of its application.

Cryptocurrencies have loads of assets. They – the assets – are worth being exploited and not the notorious and highly disputable anonymity. Maybe, as a law-abiding taxpayer, you do not need this information, but it’s worth knowing just in case that it’s much safer to pass cash than to exchange it to Bitcoin, for example. There is a number of various technologies and means but it’s ten times more complicated to know chalk from cheese in these technologies than to simply withdraw money from an ATM.

Let’s sort out the assets:

  1. Crypto-payments are easy to be found and cannot be overlooked. Application means are infinite:
    1. You paid for a movie run, you have the right to watch it. Okay. What if it’s not a subscription-based right like Netflix but a single cinema ticket or a one-time payment in an online service? You are unlikely to get anywhere with a used cinema ticket but how about an online service? Chances are you can still watch something on the same platform but not on another one. On what ground? You purchased the right but you have no chances to use it. You next step as a law-abiding citizen is installation of a torrent-client… Now you can download books, games, paid apps. Well, we also have AppStore and Google Play! Let me tell you a secret: for their troubles they take 30% off your account. Unlock your smartphone and count your savings should you purchase all this stuff with cryptocurrencies.
    2. We hope you are not only law-abiding but also law-demanding. You know that the customer is always right, okay. But even in the jurisdictions with the most loyal customer service the customer is only right if he has a relevant invoice, a warranty book, a medical certificate or anything with a seal. If you buy something for cryptocurrency, you can throw you log book with all the invoices behind the closet. Leave it to your descendants or toss it away.
    3. MFCoin team has a long list of various application means of cryptocurrency assets.
  2. Cryptocurrency is much more unsophisticated than paper money. No extra amounts of it can be printed and the total balance is transparent. Therefore, the more people use it for their accounting purposes, the more expensive it becomes, since its deficiency cannot be covered by a printing machine or debt securities. One can earn funds on this set-up, especially if there is no feverish attitude to the matter. See it as a bonus, not as a source of income. Just watch The Wolf of Wall Street and you will be 100% vaccinated from the crypto-fever. Remember the episode when Jordan Belfort finds out about the 50% commission? Main thing is you can be absolutely sure that you will not lose a single cent of your money.
    1. Check all the bonus cards in your wallet and discount apps in your phone. There is also a bunch of coupons on your fridge, am I right? How about marketing managers sending out texts with magic codes and passwords? If you launch a crypto-wallet as a phone app, you can save thousands of tons of oil and hundreds of hectares of Amazonian wetlands, and – as part of collateral damage – throw idle thousands of office employees who mostly screw around during office hours. If you install our app, as time goes by, the cashiers will start awarding you with cryptocoins instead of useless bonuses. This will take time, though.
    2. Imagine that you are buying annual subscription for a certain type of service. The fee received from you serves as earnings of the supplier. You pay straight away and utilize the services later. What if you lose interest in this service at all due to the wind of change or whatever? Part of your money is already on the bank account of your supplier. It is profitable both for the supplier and the bank. How about you? Imagine, you applied for the annual subscription, paid to the supplier from your bank card and he transferred back, say, our MFCoins for the value of your money. Then, he charges you 1/12 of this amount monthly. Reasonable question: why not write off common money? First, it is not that simple, the bank will request a proof of large-scale operations from the supplier. What if it is a cat food delivery? Second, this operation is essential for the cryptocurrency, each purchase influences the exchange rate. Moreover, we are eager to share the profits of the exchange rate growth: if the service costs MFC 10 upon the moment of purchase and within a month the exchange rate doubles, we will only charge MFC 5 in the following month. If the exchange rate drops, we will still charge you  MFC 10 as agreed on shore. Highly profitable, ain’t it?

There are other points as well. There are insights which will be a total revelation for the general majority as well as newly-born ideas which are only to be checked and evaluated.

The above essay has been created to awake your interest and curiosity. Obviously, it is a commercial! This coming September we are launching a brand new MFBox app. Demonstration of practical value of crypto-technologies in everyday life is its major parameter.

It’s not the inspired enthusiasts who change the world but the down-to-earth sceptics who were convinced that this or that idea is reasonable.

Follow the updates on our first “electric crypto-iron”!

2018-08-03T14:29:58+00:00 August 3rd, 2018|Articles|