Self Sustaining Currency Ecosystem?
What do we mean by that?
Lets first take a look at 2 examples of currency and they being Fiat Currency and Crypto Currency
- Fiat Currency
Fiat Currency is what we all use now in the form of USD, CAD, AUD, Euro and so on and they are currencies issued out by Countries, managed by Countries and printed by Countries with restrictions placed upon the usage, taxation and even distribution of those currencies and ability to exchange one for the other.
Fiat Currency is printed as economy demands and by those in political power … and that is a bad thing!
- Crypto Currency
Crypto Currency is what Bitcoin is and is restricted on allowing only the very wealthy to “mine” profitably for Bitcoin and is also at the mercy of those said miners, because if they shut down, so does the Bitcoin network and its been stated that anything less than a $230 valuation, means that mining is then running at a loss… and who wants to run at a loss?
21 Companies with the majority being China owned/based control the Bitcoin network … and that is a bad thing!
So isnt Rimbit a Crypto Currency?
It sure is, because that is the most efficient model for trade in this day and age as its quick and border-less!
Rimbit’s network is controlled by ordinary people who are using just a simple Rimbit Wallet, without anyone ever needing more than an old computer to use Rimbit and assist the network in verifying and confirming transactions.
In fact, we are developing hardware that is not much bigger than the box your mobile phone was packaged in, to run a Rimbit wallet on Solar Power, negating utility costs and opening up the currency to everyone that has connectivity.
As long as there is one person on the planet with a Rimbit wallet, the network will always be available and even that person can be dismissed with a Solar Powered unit, making the Rimbit ecosystem, robust, in control of the community and not miners or Governments.
- Fiat Currency - Requires Government
It requires people to assign how much is needed and when to print it with the hope that it wont crash the countries economy. The last thing you would ever want is a truck loaded with cash to buy a loaf of bread
- Bitcoin - Requires Mining
21 Companies own the Bitcoin network - Nothing more needs saying
- Rimbit - Requires just the Internet
It can operate on the minimalist of power and even free energy, such as Hydro, Solar or Wind energy.
The amount of Rimbit increases by a maximum of 5% per annum and is generated by users wallets within the code itself to those users who help maintain the network by simply using their Rimbit wallet.
There is no Government interference as its all in the code, which anyone can view at any time.
Apart from just the need to access the Internet, Rimbit is self sustainable and that means it can only be stopped when the Internet stops working globally !
How did we do it?
That is the best part!
We used the Bitcoin open source code and combined it with a few other wallet codes to create a wallet that is capable of running on a miner free network and also reward those users with a percentage stake on the Rimbit they currently own, thereby increasing the amount of Rimbit owned by 5% per annum and all done within the code and within each users Rimbit wallet without any intervention from Rimbit at all!
Rimbit is so efficient in what it does, it is now like a runaway train as its been in operation for over 12 months and cannot be stopped by anything apart from a global Internet blackout and even that can be managed by other forms of communication.