What is MAGIC•INTERNET•MONEY (Bitcoin) (MIM)?

Deep Dive

1. Purpose & Value Proposition

MIM began as a hand-drawn “Magic Internet Money Wizard” meme posted to r/bitcoin in 2013 by artist Mavensbot. The meme became a viral Reddit ad, credited with helping Bitcoin’s price surge from $27 to $1,132 and growing the subreddit’s community from 10,000 to 100,000+ users by 2014 (Mavensbot). A decade later, MIM was deployed on Bitcoin’s blockchain as a tribute to this history, turning the meme into a permanent, tradable piece of crypto culture.

2. Tokenomics & Governance

MIM’s tokenomics mirror Bitcoin’s scarcity (21 billion tokens, referencing BTC’s 21 million cap) and emphasize fairness. Every token was minted publicly in 2023 after a one-month dormant period, ensuring no hidden accumulation. The lack of premine or allocations means ownership is entirely community-driven, aligning with Bitcoin’s decentralized principles.

3. Key Differentiators

Unlike typical meme coins, MIM is deeply tied to Bitcoin’s origin story, functioning as a historical marker rather than a speculative asset. Its deployment on Bitcoin (vs. Ethereum or Solana) reinforces its cultural authenticity, while the fair launch contrasts with projects that reserve tokens for developers or investors.

Conclusion

MAGIC•INTERNET•MONEY is a decentralized homage to Bitcoin’s grassroots history, blending meme culture with blockchain permanence. As crypto evolves, can such artifacts preserve the ethos of early adopters while remaining relevant to new communities?