Money Back Coin [MNBK] Whitepaper Updated Version 2.1 Feb 2018
Contents Introduction... 4 Definitions... 5 Project Money Back... 6 Investors... 6 Money Back Coin [MNBK]... 7 Project Money Back Eco-system... 8 The Road Map... 10 Phase One... 10 Phase Two... 11 Phase Three... 11 Phase Four... 11 Phase Five... 11 Conclusion... 12
Money Back Coin: Let s do something bigger! https://projectmoneyback.org Abstract. A decentralized peer-to-peer digital currency that uses the Ethereum Protocol. #ProjectMoneyBack and Money Back Coin was initially created with the sole intention of recovering unscrupulous losses for investors by pooling together. With the tremendous support of the community, this focus has rapidly expanded. Money Back Coin now represents so much more than recovering losses, it represents a unified attempt to profit together and minimize losses by trading information, news and resources. Most private crypto-investors and even some professionals do not possess enough knowledge about the cryptocurrency markets to make clear enough choices from such a wide variety of options. The industry is still so new and to not miss out on opportunities for quick profits most people tend to blindly follow crowds via social media, forums and articles. Many people end up losing out to fake ICO s and scams, terrible projects or price manipulations controlled by the whales of the market. More often than not these crowds turn out to be bots (computer programs that run automated tasks, such as send out or retrieve information. In the case of Twitter, send out mass tweets from multiple fake profiles to inflate interest). #ProjectMoneyBack and the Money Back Coin was born to unite the interests of real people, make money and combat problems face on. LET S MAKE AS MUCH MONEY IN THE NEW ECONOMY AS POSSIBLE.
Introduction The cryptocurrency space although a decade old, is still very new has proven to be one of the fastest growing fin-tech (financial technology) instruments over the last 3 years. With a current value of over $300 billion and less than 1% of the population invested, there are no real signs of its growth slowing down. The success of cryptocurrency is only partially due to the blockchain technology that upholds the entire eco-system. The bulk of its success is due to the size of its passive community, the widespread adoption of its functionality and its apparent decentralized origin. However, its speed of growth matched with being new has opened a doorway to numerous scams in the form of ICOs, Ponzi-scheme projects and private groups of market manipulators. Turning a fantastic revolutionary industry into an untrustworthy cesspit of opportunists, centralized enterprises and start-ups. This has potentially risked the entire eco-system and leaves a back door open for regulators to come in and change the process. Money Back Coin cannot fix this problem, but it can form the largest and open group of cryptocurrency investors that want to make money in the new economy, openly share information with people that are willing to act on it and maintain their anonymity. Turning bitter experiences into sweet and profitable ones. There is power in numbers. There is power in shared interests. Together we can grow #projectmoneyback and make Crypto a Currency again.
Definitions As mentioned the success of the cryptocurrency eco-system relies on blockchain technology, a vast community and widespread adoption. Our focus is to grow the community, to do this the community must first understand the basic definitions of components within the crypto eco-system. What is Blockchain? There are two important definitions; 1. Blockchain technology/ Blockchain The initial algorithm created by Satoshi Nakamoto that publicly records transactions using cryptography to an incorruptible digital ledger distributed across many computers on a peer-topeer network using a timestamping server. 2. A Blockchain aka The Blockchain An incorruptible distributed digital ledger. What is Bitcoin? Bitcoin is the first decentralized digital currency and worldwide payment system. What is Altcoin? Any peer-to-peer digital currency that was created after Bitcoin. What is a Token? Tokens are blockchain assets that represent a value, and can be sent and received the same way as bitcoins. If a Token s sole purpose is to represent a tradeable currency, it can be considered an Altcoin. What is Money Back Coin? Money Back Coin is an ERC-20 Token that runs on the Ethereum blockchain. Its purpose is to be used as a decentralized virtual peer-to-peer currency, as well as the currency required to gain membership to What is Cryptocurrency? Cryptocurrency is an umbrella term given to all of the above. It is a digital asset that is traded as a medium of exchange and uses cryptography to secure and verify transactions. What is an Anonymous Syndicate? A group of anonymous individuals or organizations combined to promote a common interest.
Project Money Back Project Money Back is an open and anonymous syndicate of crypto-investors. The idea is the genesis seed of Mikado the creator of Money Back Coin. The seed rapidly spread and a team started to grow. Initially we consisted of members that were cheated out of millions worth of Bitcoin and Ethereum in fake ICOs and scam projects. However, with growing support and suggestions. We have now expanded to being accessible to those that want to profit by being part of an open community rather than suffer at the hands of misinformation, uncertainty and private/closed groups of market manipulators. As mentioned in the introduction there is a lack of actionable knowledge surrounding crypto-investors, causing many to miss out on high returns in a very volatile market. The sheer volatility is tough to deal with when you act alone and lack key knowledge. Some win, but the majority lose. Together we can all win, teach, learn, understand and look out for each other, as well as act on openly shared knowledge, whilst maintaining anonymity and control over our own funds. Investors also consists of crypto-investors that want to enter the crypto-market to diversify from traditional financial assets and take advantage of the new economy. To do this effectively it is important to know that cryptocurrencies are an everevolving asset. This asset can be broken down into two main types: 1. Digital Currency Bitcoin is the number one example. This type of asset is used purely to transfer wealth globally, transparently, securely and anonymously. Its inherent value derives from its usage and trust of its community. 2. Token / Utility Token / Native Token These can be forms of currency, but are predominantly used to serve a native purpose to the company or enterprise it is created by. More often than not these organizations are centralized but make use of a decentralized platform to offer more transparent services/product.
Tokens can be likened to company bonds or shares. Companies create tokens to both raise funds quickly without having to go through regulatory processes and serve as some form of utility within their organization. This is a popular option for many investors because its value derives not only from potential utility but the perceived accountability of its team as opposed to trusting an anonymous community like Bitcoin. However, it is important to note at this time that such accountability hasn t stopped scams from occurring or projects failing (while retaining funds raised). The transparency of declaring a project s team is a measure of security for the team as opposed to the investors. This is because the market is unregulated and high risk, so the team being transparent and known from the start allows for co-operation with external authorities/regulators and absolves the team of much liability should something go sideways. Due to both these assets being interchangeable via Cryptocurrency Exchanges there is often confusion distinguishing between what drives their values. Money Back Coin [MNBK] Money Back Coin [MNBK] is our very own community driven digital currency. It runs on the Ethereum Platform, is pre-mined and instantly tradeable. The Purpose MNBK Coin serves multiple purposes: 1. To be a member of you need to own at least 25 MNBK Coins (This may change as the community grows). 2. As the community grows the we will list the coin on exchange platforms to be used as a hedge against other cryptocurrencies. 3. To be used as a tradeable digital currency. The more hands that MNBK Coin is in the more inherent value it has, the more success the project achieves and ultimately the more money we all make!
The coin supply and details Coin Name: Money Back Coin Coin Symbol: MNBK Decimals: 18 Total Supply = 21 Million Pre-ICO Supply = 1 Million Airdrop Supply = 10 Million (for those on the mailing list) ICO Supply = 7 Million (open to public and issued to development team) Exchange(s) Supply = 2.5-3 Million Creator: Mikado Development Team: Anon (The entire community) Platform: Ethereum Standard: ERC-20 Ownership: Decentralized. All holders of the MNBK Coin are Owners. Project Money Back Eco-system The eco-system of Project Money Back and the Money Back Coin consists of multiple elements: The website, Telegram, Social Media, Dedicated Forum(s), The Smart Contract and the Community. None of these elements are designed to be interlinked (in the sense that, if one element has to close or stop, the others can function). The Website https://projectmoneyback.org The website created by a designer outside of but not prohibited from joining #projectmoneyback serves the purpose of explaining the project, road map, initial coin distribution, the whitepaper as well as providing access to the GitHub, Twitter, Telegram and other means of communication for the entire Money Back Coin syndicate. The website will house the dedicated members section where it will provide official links to the syndicate s communication sources, trading signals and tips, ICO picks, Latest Crypto News and Latest Crypto Resources.
Telegram https://t.me/projectmoneyback The Telegram group is managed by Mikado. Due to the one-sided communication of telegram groups we will only provide key updates and links to official communication sources. We will never incite or promote issues outside of cryptocurrency. Crime, Terror and related activities are not a part of Project Money Back or Money Back Coin and therefore not promoted. Social Media https://twitter.com/moneybackcoin For now, the only social media channel we use is Twitter. Follow or monitor our twitter for updates, general opinions and shared views. Use the #projectmoneyback to show support and signal to us that you would like a retweet. Please note: Not everything will be retweeted. Not due to selection, but to not clog/spam the feed. Therefore, we suggest everyone uses the #projectmoneyback and read each other s views, updates etc. Naturally a common subject theme tends to occur and it is the majority that forms the basis of the movement. Forums For now, and BitcoinTalk.org will be the main forums we will use. An official link will be sent out via the above channels once #ProjectMoneyBack has launched and is in full swing. The Community You are all the syndicate whether you opt to openly support or anonymously. Our goals are shared, legitimate and beneficial. The community must remain open for the general security of everyone. It allows for information to be shared and traded freely, we advise that no illegal activities are promoted/discussed and that we grow organically from here on out. Welcome to the family. Welcome to the syndicate.
The Road Map Phase One Populate the Community! (Feb 2018 onwards) One common goal we all share is the desire to make money and see large profits in any of our crypto investments. This goal is enough for us to form a functional open community and a large anonymous syndicate. Why is this important? The current bullish and bearish movements in the crypto market has been dominated by small and private syndicates of Whales (holders of large amounts of a particular cryptocurrency), followed by their spread of FUD (Fear, Uncertainty and Doubt), which then leads to FOMO (Fear of Missing Out) from small time investors who jump in at the last minute often making small profits and larger losses. In regulated markets, this is frowned upon and possibly punishable in some jurisdictions. However, cryptocurrency as of now is not regulated. In addition, cryptocurrency s lack of regulation has led to the fast emergence of legitimate and illegitimate enterprises creating ICOs and using similar techniques to raise quick funds, further adding to investor losses. The majority of the cryptocurrency market will remain unregulated due to the nature of blockchain technology. The only way to beat the unscrupulous ICOs and the small syndicate of whales is to build a bigger community that interchanges valuable information and form a larger syndicate that can have a more positive influence on the growth of the markets we are involved in. How does a large syndicate/community help Money Back Coin? Influence of the masses. It works 100% of the time. (Except in Countries like N. Korea) Sad but true. Our sheer size alone will draw the attention of exchanges (decentralized and centralized), businesses and retail crypto-investors. The more hands that Money Back Coin is in, the more that exchanges can profit from including the coin on to their platforms, therefore driving up its dollar-to-crypto and crypto-to-crypto value. This also adds liquidity to MNBK allowing for wide interchangeability. From here on out the people on the mailing list will be unilaterally known as the Anonymous Founding Fathers & Mothers of Money Back Coin. How do we get involved? Read the information on, share & sign up to the mailing list.
Phase Two Pre-ICO & Airdrop (26 th 28 th Feb 18) A maximum of 2,000 people can take part in the Pre-ICO. Each participant will receive an Airdrop of 5,000 MNBK Coins. A minimum of 1MNBK Coin must be purchased to take part. There is no cap on maximum purchase. The Pre-ICO will only last for 72 Hours. Note: Details on how to take part will be emailed to those on the Pre-ICO mailing list. Phase Three Public ICO (1 st 14 t h March 18) After the Pre-ICO the remaining MNBK Coins (minus 2.5-3 million which will be reserved for exchanges) will be listed for the public ICO. Note: The ICO will last 14 days only Phase Four Site Registration & Membership (15 th March 18 onwards) To register you must hold a minimum of 25 MNBK Coins. The Registration form will open from 15th March 2018. All members will receive: Trading Signals (The top exchange listed crypto's to buy/sell) Research based ICO picks Latest Crypto news Latest Crypto Resources MNBK Coin Insights Phase Five Exchange Listings (1 st April 18 onwards) If we have made it this far the community should be flourishing and actively pushing for MNBK to be listed on a few large exchanges. We will list on a few decentralized exchanges and make announcements closer to this time.
Conclusion Money Back Coin is to be an inflation-resistant Ethereum based digital currency, that is supported by one goal and one community. Collectively we can eat the whales, dominate our value proposition, openly share information, maintain anonymity and make as much money as possible in the new economy. To get started and participate in the Pre-ICO and Airdrop sign up to the mailing list and confirm your email. NOTE: If you miss out on the Pre-ICO and Airdrop. Follow us on twitter and be ready for when MNBK coin is released to the general public.