Rimbit is a lot like Apple as it does things differently and it has attracted some heavy hitting haters simply because it turns the industry upside down – but for the better!
Crypto Currencies are all essentially the same as they use a peer network to verify and confirm transactions, or so they say, but the reality is completely different as it is not really a peer network doing the verifying and confirming and instead it is a select few mining peers that are doing it.
Rimbit on the other hand is a true peer network as it uses the user-base to do all the verifying and confirming and in fact, there is no mining involved at all.
To top that, Rimbit also rewards its user-base with stake (known as interest) set at 5% per annum, that a users wallet creates for itself and sends to itself, making the Rimbit wallet act more like a personal bank for each user. This function is also known as POS (Proof of Stake).
Just think about that for a minute.
Your Rimbit wallet has within its code (which is freely available to view on Github) the ability to look at how much Rimbit (RBT) is in your wallet and then it sets aside a portion of your funds to generate a percentage of the 5% per annum Interest, as it is then sent out to the community to verify and confirm your interest amount and the community group of wallets then decides it is a legitimate request and then generates brand new Rimbit for your Interest payment and places it in your wallet as a new received payment. Its all done via the peer network and not by the developer as has been reported in other media.
Bitcoin does it differently as it works on POW (Proof Of Work) which generates new Bitcoin and ONLY sends it to miners, mainly in China and other low utility fee countries. In fact the top 3 mining companies are from China and do have over 51% control of Bitcoin, so those who invest millions in venture capital are at the mercy of these 3 Chinese mining firms.
Bitcoin is always in the news for its bickering within the community as it cannot decide on issues such as the size of the blockchain, and then having the mining community stepping in and having their say, which in fact counts for more brownie points than the Bitcoin users as miners alone control Bitcoin and not the users or the Bitcoin foundation.
A visit to the Rimbit forum shows another fascinating occurrence as the users discuss ideas and procedures all without bickering and polls are setup on certain issues to get public opinion and then its acted upon based on what the community decide and not some company with a vested interest or a sole country such as China is with Bitcoin.
All Crypto currencies are users, developers and miners, with each having their own opinion and the latter only caring how much they can extract for themselves as its no longer the users that can benefit, and along with the mining community getting richer, so too are the online mining websites that are happy to take your money to use their old antiquated miners, as they are no longer profitable for the company as stand alone miners, so instead “rent” out those old mining dogs to the community.
Except for Rimbit as they dont mine and the blockchain is instead run by the community. Truly innovative!
Of course there is a downside to the way Rimbit distributes its currency, but that has completely been discounted as over a year has passed and the dev has remained active on a daily basis on the community forum, answering the bulk of questions and has even created video tutorials in which he explains how to work the wallets and troubleshoot problems. That cannot be said for any other Crypto Currency or mining hardware manufacturer, as they tend to disappear from its users once funds start rolling in.
In fact, the Rimbit dev is waiting for the community to grow to the point where it can look after itself, with members being voted in by the community to take Rimbit out to the public in a big and magnificent way that can only be described as one of societies big leaps into currency self sufficiency and its at this time the dev will walk away and hand over the reigns to the community to run.
Bitcoin has failed at this in a big way and a rude shock awaits Bitcoin users just around the corner!
All in all, Rimbit cannot be stopped and has the best system for a long life, whereas Bitcoin and all other Crypto Currencies are forever and a day, at the mercy of hardware companies who must always be supplying new ASIC chips to keep those currencies moving.
Rimbit is made for you and me and everyone else on this planet and the only technical hurdles it has to overcome is not how big the hardware to maintain it is, but how many people can access the digital communications and Google and the likes of Richard Branson are hoping to change that by bringing the Internet to as many people as possible around the world!
View the website at http://rimbit.com
View and join the amazing forum and get involved at http://rimbitforum.com
Rimbit is one of those ideas that you are either supporting or not.
Just like when news came out about Bitcoin that could do some “cool” transacting on the Internet and some joined, but most people didn’t and look at it now!
It was a crowdfunding campaign on Indiegogo that first got the Rimbit idea from a innovative process and into development, which as far as we know is the most successful Crypto campaign on Indiegogo and possibly all public crowdfunding websites. View the campaign which is still running here
You cant mine Rimbit, so how do you get it?
Well this is or should we say was the most controversial aspect of Rimbit as its all out and is just sold by the development team and they explain why it had to be done this way.
Direct sales of Rimbit go back into development and maintenance of the system and most people would be sceptical about this process as we have seen time and time again that when income starts flowing, the developers go on holiday.
But this is definitely not the case with Rimbit and many news outlets that have mistakenly reported how bad it is and even predicted a few weeks lifespan of Rimbit, are now eating their words as Rimbit is the same 18 month later as it was on their first day of launch, as they are very active, to the point of obsessed, having even snuck in a laptop into hospital after the developer underwent heart surgery 2 days after the procedure, simply to “not let down” its member base.
18 Months and the developer is still working Rimbit and the forum he put together is in itself worthy of support as its not just a project, but a passion that resounds that idealism in the forum.
You can get Rimbit at the Indiegogo campaign, the main website and even the forum, so do youself a favor and if anything, send a few dollars and get some Rimbit while its still as cheap as it is!
Article Source: http://mentaso.com/rimbit-will-be-the-next-big-thing/
