MIM

Anubisrapture

*MIM*

Satoshi_UNO

In which 2007 we said Bitcoin DIGIcoin Or what ... Then I said MIM for Magic Internet Money

RockMason

Yall do know we have a dedicated community of wizards on BTC right? $MIM just launched for the community as well. You can pick some up in the runes marketplace on Magic Eden.

Aconyminomicon

We can definitely agree on that last part. Hashpack got me for 40k hbar. T'was a MIM attack on there correct url and their webapp for people who dont want to use fucking chrome. Drained my wallet even after a test Tx. I love Hedera but I am sad to see what has gone through this year. RWA's are poised to be the next narrative and Hedera smokes all others, but where are they? Starting to seem more like a big chaotic scam of opportunist than any real "trust layer of the internet" super network.

WineMakerBg

That's not just a coin. It is a project, rewarding ignorant and third world people to gave away their most unique data in exchange for some MIM (Magic Internet Money)

JewelerIllustrious96

Hi! You should ask them to use Crypto to pay also. They send the crypto payment in whatever the representation of it they want and then you send the fees to the MIM. If is so expedite to pay the commission in crypto you should make all the deal in this type of money. So money up front for what you manufacture and then you send the fees to them. Never the other way around. Hope you the best.

mfqueso

We JUST set up r/MIMonSOL a couple weeks ago and are fairly new here. I’m not sure how it is on here but $MIM def isn’t a scam. I’ve been in this CTO for months and Raif in our TG every day.

LostTamale

$MIM is showing strength in several key areas. I can see this thing flying out of nowhere leaving ppl stunned. It's a slow cooker, but don't underestimate projects like this with hard-core community members

kingg247

I'm physically growing beard like a wizard. $MIM Wizards are bred differently. Look at these spells.

cryptonija

It's fascinating to see how $MIM is gaining momentum lately! The world of cryptocurrency truly feels like a magical realm at times, with prices soaring and dipping like spells being cast. It's a rollercoaster ride for sure, but that's what makes it so exciting. Have you dabbled in $MIM or any other cryptocurrencies recently? Share your thoughts and experiences!

mfqueso

I smell new wizards. Get your $MIM beard and your magic wands on folks.

VApatriot11

If you see someone sporting the ordinals taproot punks wizard NFT, odds are they are probably a $MIM wizard!

PreventableMan

MIM to the rescue

kingg247

Wizards never die. #MIM, Magic Internet Money is here for multiple cycles 

kingg247

This is crazy, a community of wizards grinding $MIM to billions of dollars mc.

kingg247

🪄 $MIM has no dev, but rather a Council of Wizards. Ownership is decentralized 🪄 $MIM is the most universal crypto. Every blue chip, every shitcoin, every rug, every mooner, "it's all magic internet money" TARGET: Infinity. Check the link tree for more info.

fairykingz

Isnt there a crypto called that (MIM)

tiger-eyes

Yup, 5-10x leverage loops using magic internet money (MIM). It was insane. You had YT guides posted here trying to normalize it all too. Result was billions lost. Funky times..

usercos187

'MIM' (magic internet money) on solana, is not going to disappear, it has good fundamentals and use case. lol

zbindenren

You should also be worried about your online banking. With QC they get easy access to your passwords and MIM attacks are easy possible.

eldron2323

Made the mistake of selling all my Banano for MIM. Hope I can make back what I lost during all the transactions to get on SOL smh

packofdarts

Epep and Magic internet money MIM were two I was looking to throw some money at

LostTamale

If you are looking for a solid meme coin on SOL that has massive potential. Check out Magic Internet Money $MIM. Wizard council of 50 committed community members is constantly cooking. The memes are strong and the narrative is OG. 100x from here is entirely possible. CA: G33s1LiUADEBLzN5jL6ocSXqrT2wsUq9W6nZ8o4k1b4L

Carl_Baskins

Thoughts on $MIM Magic Internet Money SOL? Ran across some community members on X. Has enjoyed a nice little run in February. Seems like a fun community and a meme coin worth gambling a few bucks on. Was looking at Coin Market Cap which says that the max supply is a little under 1 billion, but is unverified... How likely is it that this is accurate?

Trick_Hall1721

Picked up a ton of SPELL when it was at .0004 . Now it’s at .0011 and made a pretty substantial gain. MIM survived the bear so SPELL should get rock hard this bull run. It’s high risk, but so is working for the rest of your life.

xeneks

Disagree. Nation states with access to communications and compute can do simple MIM attacks against an individual. SSL and other certificates can be spoofed See https://fastercapital.com/content/SSL-TLS-Spoofing--Securing-Your-Connection-against-Fake-Certificates.html# But at many levels, even the CA (certifying authority) can be duplicated or simply work with or be obligated to assist any threat actor. https://en.wikipedia.org/wiki/Threat_actor The update or the installation process can have rogue repos, or government managed alternatives that supply invalid updates which give ability to vary the characteristics of local wallets or clients, and that can be done at massive scale. It’s possible to mirror supplying nodes and put in filter substitutes that exchange certain data based on fixed parameters. In short, I disagree. You’re looking at this from a perspective of a situation that many users would have, but there are some users that have situations where the sophistication of the MIM attack incorporates governments with legal access to the CAs and from that can exchange client code, and from that, can own and manipulate remote endpoints. The carriage service is the weak point, and most people don’t appreciate how a comprehensive effort makes even VPNs less reliable than imagined. https://en.wikipedia.org/wiki/Man-in-the-middle_attack There’s situations where nations states can mount attacks on the individuals, not the networks, and create parallel networks that serve their purposes, including misdirecting funds, by cloning the internet however making hundreds of thousands of pages serve their purposes. Perhaps most researchers don’t imagine governments with secret or legal dark intelligence workforces counting in the millions of individuals, or tens of millions or hundreds of millions, diverting state owned resources toward the interference of single individuals. I’m not talking about governments overseas, etc. I’m talking about multi-billion dollar black budgets and budgets created by owning companies and corporations outright, and those run to market caps of thousands of billions of dollars, and have flowing income, that are state assets, and able to be used. The US government, UK, and I’m in Australia and no doubt our government has this type of capacity also, could do this sort of interference in a MIM way. If you’re a person of interest or the state considers you an asset under management, things like cryptography only add a moderate complexity to them, if interfering with your carriage services or using wireless or radio or physically exchanging connections such as fibre or wires at exchanges or POPs. Reports like this forget the capabilities against an individual are ‘8 billion again one’ if a situation arises where that one person is considered important to harass or to intimidate or engage with to steal from. I appreciate crypto but I’m under no illusion about how it can appear reliable and secure until it isn’t.

Puzzleheaded_Tie_870

New memecoin on Solana launched 5 days ago. ATH 5 mil MC. Floor stabilizing between $500K- $1 Mil MC. Crazy community. Round the clock raiding and telegram voice chats. Why $MIM? Because we're all here for the same thing. We're all chasing Magic Internet Money and we're all trying to get out of the day to day paycheck to paycheck grind. Come visit our community. All links to our project are in the link. [https://www.reddit.com/r/MagicInternetMoneyMIM/](https://www.reddit.com/r/MagicInternetMoneyMIM/)

Alive_Wallaby1710

MIM is magic internet money

alex_sz

That doesn’t make sense, you know a bitcoin ETF is regulated, if you want to miss about with MIM, that’s risky and you know that

Rooftop720

Looks like MIM is stabilizing back to its peg. Good it wasn't as bad as Terra Luna.

Beechbone22

Repaid the MIM I borrowed on Arbitrum during the depeg. Nice and tidy profit.

coinfeeds-bot

tldr; Magic Internet Money (MIM), a stablecoin by Abracadabra DeFi platform, depegged to $0.84 after a $6.5M exploit. PeckShield reported the attack, which involved a rounding bug and was initially funded with 1 ETH from Tornado Cash. The attacker manipulated borrowing limits and swapped stolen MIM for Ethereum. Abracadabra confirmed the exploit and is buying back MIM to burn it. The issue was mitigated with no user collateral at risk, and Chainalysis is assisting in response to the incident. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

demigeek051

This happened to me yesterday. What pisses me off most is I'm super savy or I have been recently. I have never visited any dodgy fishing links,. To my knowledge I definitely have never connected my wallet to them. I have never stored my seed phase online or even used it to recover the wallet in question., I haven't even logged into metamask for a couple of weeks, and always disconnected the wallet from a website leading me to believe it must have happened in defi hack, as I played around with defi with this wallet address in 2021 bull run along with MIM, TIME and a few others. So to the OP ignore what some people say here it's possible to be careful and still be exploited.

only_merit

OK, found it, it's MIM - https://www.youtube.com/live/mpdADs1seJE?feature=shared&t=2186

coinfeeds-bot

tldr; Abracadabra Finance, a DeFi protocol, suffered a security breach resulting in a loss of over $6.4 million. Attackers exploited a vulnerability in the protocol's smart contract, bypassing the insolvency check and illicitly borrowing a large number of Magic Internet Money (MIM) tokens without sufficient collateral. The compromised contract had assets valued at over $29 million. The MIM stablecoin's value dropped but later recovered to near its pegged value. Abracadabra Finance's team is taking action to mitigate the impact, including buying back and burning MIM tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

asbm104

Yup MIM attack can easily show misleading prompts. And there are also still legit cases of blind singing requirement but I think that's gonna become outdated soon, hopefully. Tech is moving faster than the tools

Frogolocalypse

> You think you’re the only guy who knows what a MIM attack is? wtf? > I told you how I created the transaction, I did it in conjunction with the Trezor wallet How? (as you scramble to find out what a watch-only wallet is)

anonymouscitizen2

Making shit up? You think you’re the only guy who knows what a MIM attack is? I told you how I created the transaction, I did it in conjunction with the wallet and the totally air-gapped computer. The txn hash now resides on the totally airgapped computer, wallet is disconnected and the tx hash is transferred to the networked computer.

not420guilty

bisq is a distributed peer-to-peer exchange, MIM is an example of a centralized "instant exchange". You can google "instant crypto exchange" but basically the exchange operator run the service, and provides liquidity. The user sends coins and the exchange sends back the exchanged coins. There are details in the example FAQ/TOS document: http://mimexxxic7flxfu4bnin7q24eftztpxbox73zjkhb36a2qgvvaxhljid.onion/support

meeleen223

Idk seems bit dodgy to me, thats why I hold it in MIM - Magic Internet Money, both are backed mostly by FTT, magic and looming depeg issued by Abracadabra protocol

wayfarer8888

Question: is USDC any better? Do you think one of the basket coins like DAI, MIM or FRAX are safer alternatives? I personally like PAXG which is backed by real audited gold reserves, but it's only on Ethereum L1 (maybe Arbitrum One, but I couldn't verify the contract and liquidity is probably an issue).

wayfarer8888

So that makes them solid? It's a collapse just waiting to happen. They sell you IOUs which could risk less make 3-5% returns in government bonds and be overcollaterized and Tether would still reap a huge profit (easily 2 billion per year). But that's not what's happening. I hope people phase out of this B.S. coin, we just got lucky so far. We also got lucky on Luna, that is until we didn't. There's a few stabiles I'd trust, honestly I like PAXG which is backed by gold and also the new PayPalUSD which is managed by Paxos as well. I am certain there's more. I usually avoid Tether and rather use DAI, MIM or FRAX for short term swaps or bridging.

wayfarer8888

MIM is an actual token. It's indeed the abbreviation for Magic Internet Money, overcollaterized stable coin.

loksfox

Last time i heard names like these i was deep in terra luna ecosystem, degening on anchor project and MIM leverage (magic internet money) NOPE, i'm traumatized.

wayfarer8888

There's an EU legislation called MiCA that makes all stable coins at least temporarily illegal. I am unsure how DAI, MIM or FRAX kind of DAO coins are impacted, they cannot just open an office in an EU country but maybe they are out of scope. It seems MiCA is written is another legislation written by bureaucrats with very limited understanding how things really work. "Binance plans to delist stablecoins in Europe, citing MiCA compliance" https://cointelegraph.com/news/binance-delist-stablecoins-in-europe-mica-compliance

wayfarer8888

I'd prefer people use DAI, MIM or FRAX instead of supporting an opaque organization with a shady audit history.

Ok-Object9335

Shouldn't we use MIM(Magic Internet Money) instead?

simplicity92

Then you will literally need to have MIM in your portforlio. Joking. Its a bad investment But yes we been at this price range for so long.

cats_dont_wear_pants

And MIM

jekpopulous2

Most CDPs (DAI, MIM, etc…) use non-upgradable contracts and can’t be frozen. The problem is that they use USDC as collateral which poses a different kind of risk.

cats_dont_wear_pants

MIM as well

cats_dont_wear_pants

USDC and USDT does the same thing. We need decentralized stables. MIM, DAI. PayPal stablecoin will contribute to liquidity inflows which is how markets thrive to begin with. I will never use it though.

cats_dont_wear_pants

We really need decentralized stablecoins like DAI or MIM

PNW4LYFE

It's amazing how we perceive time. One day I was yelling at my mom for picking up the landline telephone and kicking me off the 56k , the next day I was posting to a forum on my pocket computer over 500 Mbps mesh wifi and getting paid to do so! MIM V2 let's go!

jekpopulous2

CRV isn't going anywhere. This is a much bigger problem for AAVE, MIM, and other protocols that would be taking on bad debt as there's nowhere to liquidate all that CRV. That said... I highly doubt that Egorov actually get's liquidated. The powers that be in DeFI aren't going to let it happen.

kryptoNoob69420

Abracadabra protocol allows users to earn money by using interest-bearing assets such as CRV, CVX and YFI as collateral to mint **Magic Internet Money (MIM)**, a USD-pegged stablecoin. Spell is the native governance and staking token of the platform. And now they want to raise interest rates *magically*.

wayfarer8888

The idea is to have something safe that may even appreciate a bit during a crypto winter if you don't want to withdraw your blockchain funds (then you could buy an ETF like PHYS), but rather continue using DeFi. If I move into DAI, MIM and/or USDC I still have inflation during those roughly two years, or may get hacked because I know myself and probably would be tempted by a lending protocol or a stable LP to park the money for some APY. That versus just holding a gold backed coin. TL;dr It's not a true investment (King Midas style), it's more about not losing money 🤑

wayfarer8888

Just want to add the stabile coin problem, we've seen it with Terra Luna already, Tether and even USDC seem not to be fully backed by the US$ as they promise, so depegging of a major stabile coin can ruin the entire sector. On top, these two can just freeze your funds, that was one of the cryptocurrency promises broken, free transfers. Stuff like MIM, MAI or DAI is less popular and depends on other cryptos not losing too much value, when the market is>50% Bitcoin dominated and just following that one trend.

wayfarer8888

Interesting. DAI is wrapped on Fantom and not generated on that network, it was a multi coin. 24h after it started most multi wrapped coins were still at 70% of nominal value for swaps and bridging, and stayed for a while. You say they now lost 70%? I only see the new axlUSDC in the bridge on Spooky, did they remove multi-USDC and the others completely from the system? I noticed stable coin MIM doesn't seem to be impacted at all.

therealdivs1210

This shit is still running after the sifu debacle? I’m pretty sure MIM and that anchor protocol looped interest was in some way responsible for the downfall of UST.

iAmGab

Im going to check mine but mine was caused by a bug in metamask UI.. I hope mine would be reduced, 400 MIM sent and Binance was asking for 500 BUSD fee.

JacksBlackShadow

What court in their right mind would grant him bail? It's hard not to suspect that corruption is at play here. He's already run from authorities, fleeing internationally under assumed identities. He's already had hundreds of millions of assets frozen in South Korea, and I'm sure that's a drop in the bucket. There's on chain evidence suggesting he cashed out over $2 billion via MIM/Degenbox prior to the collapse of Terra. While it's unlikely all of that made it into Do Kwon's pockets, I'm sure there's a sizeable chunk that did. €400k is a joke and represents less than 0.1% of what he scammed/stole. Unless prosecutors appeal bail successfully, he's either going to flee to a location without extradition to the US, South Korea, or Singapore - or he's going to tragically be the victim of a "boating accident".

tinksaysboo

I got in all figured out! I had to transfer the MIM to my trust wallet first, but fit the job done. Thank you for pointing me in the right direction!

tinksaysboo

Help Coverting MIM to AVAX I have MIM in a Safe wallet. I need to convert it to AVAX and then send it to my Coinbase wallet. I know how to send AVAX from Safe to Coinbase, it’s the converting I don’t know how to do. Help! I am in the US.

kc5

Surprised more people don’t know about Merlin Pepe. Representing the memecoin ecosystem with actual functionality. $SPELL and $MIM

elysiansaurus

The best part is that it's already an existing token. Bullish on MIM! Even though it's a stablecoin!

Illicitterror

Still holding my MIM bags, got to keep holding the moon bags

Loose_Screw_

I bet you it's an old fashioned MIM attack, but with some kind of browser extension leaking the packet encryption credentials.

Raccoon_Expert_69

Hardware wallets are not something I would suggest for a newb. I've been in crypto for 11 years and never got one. They aren't needed unless you can't take proper precautions and even then, you'll probably lock yourself out/forget, lose your seed phrase, drop it in water, or become the victim of a MIM attack. Hardware wallets are just another point of failure. Also, Copy/paste your passwords/seedphrases, typing it out means it could be keylogged - if you have been infected by a keylogger.

kc5

The current Abracadabra team. Ya they lost a lot of credibility when someone Daniele brought to the wonderland team was later outted as a known scammer(Sifu) and removed from the team. But that didn’t stop them from moving on and diligently progressing the project. I definitely trust LickMyRomy and have high expectations for the future of Spell and MIM.

OneThatNoseOne

.Which will inevitably stop. I remember how high people were on MIM(Magic internet Money) and Olympus DAO. BOY, did things change.

crypt_keeping

This is just one article but there are many connections between Kwon and Sesta for example [Magic internet money / MIM ](https://twitter.com/danielesesta/status/1459176173863374866?s=46&t=OOi-aPPWAaMgPtF7AcD-3A)

AsOneLives

MIM is a stablecoin iirc lol

nitrinu

MIM. Magic internet money.

OrringtonBear

A few things, firstly that Circle and Tether only have the power to do what the smart contracts enable them to do. As far as I am aware that may include freezing coin balances but it doesn't include altering them. Secondly, Circle and Tether are still small enough that betraying peoples trust (say by refusing redemptions, or redeeming at less than face value) would likely destroy their reputation, something that would be quite damaging to them. Unlike a CDBC, people can just flee to DAI, RAI, MIM, USDD or any of the other stablecoins. Whereas with a CBDC, they don't even need to care if you have faith in them - you're forced to use it regardless, that's the point.

Least-Courage-7610

>the only alternative USDT MIM? DAI? Y'all use centralized stables and are surprised that they collapse I don't get it

alfonsegangitano

Hey there, it’s me from the future! USDC is currently trading at .88, Dai at .90, FRAX .89, LUSD .94, USDP .97, USDD .93, MIM .88, sUSD .96 & MAI .91 It’s not fine. The largest stables have all depegged except Tether.

Einsatzpause

I still had something about 2/3 in my head. But we are currently seeing how closely the fate of DAI is linked to USDC. There, too, we are currently at 90 cents instead of one dollar. MIM also no longer has its peg

Jeff5704

It’s not just USDC also DAI, USDD, Fei USD and MIM have depegged.

SoNotYou

Sale! Rounded upwards USDC $0.89 DAI $0.91 FRAX $0.90 USDP $0.94 GUSD $0.97 LUSD $0.95 USDX $0.84 MIM $0.89

JonnyLunchbox

Over collateralized, unable to be frozen by centralized figures, and high liquidity cross chain. so MIM, MAI, SUSD, LUSD

Ankzar11

wdym? MIM depegged at the same time.

LeThaLxdARk

MIM name doesn't really help either lol

Ankzar11

There is some hope though. Maybe recovering the peg won't be possible for a long time, but it's not like Circle is really insolvent. Many banks have less money for your deposits than the cash Circle has available to back USDC. Not going to lie, it does look bad, but at least here we should have real reserves unlike UST which only had about 3 bn of reserves (aside Luna) for 15 bn+ UST. Oh btw, USDD, Frax and MIM also depegged. I guess Frax and MIM also had DAI/USDC as collateral, and I suppose many other defi stables too.

pink_tshirt

Reminds me of this little algo stable coin called $MIM. It’s been through everything and yet somehow it’s still doing fine.

nudibranqui

Too bad MIM already exists

DMCarter_

It definitely wasn't UST since LUNA was burned and minted (the latter which caused its own hyperinflation), unlike overcollateralized stablecoins (DJED, DAI, MIM, etc) that instead lock and unlock when minting and burning the stablecoin, thus creating a reserve that can be used as the basis for redeemability through assets that actually exist.

DMCarter_

No, it didn't. u/AESTHTK posted disinformation articles about DJED before, was corrected, and continues to spread disinformation (I guess that's crypto-cult mentality for you lol). How all overcollateralized stablecoins (DAI, FRAX, MIM, DJED, etc) work is that they can't truly depeg unless the reserve ratio is under 100%. Look at other stablecoins which fluctuated in the past (esp. early on in their life). Want to know why they never stayed "depegged"? It was because they were all overcollateralized.

DMCarter_

Being overcollateralized by over 500% sounds pretty stable to me. It being backed by crypto doesn't change that. Other crypto-backed stablecoins have fluctuated in the past (DAI, FRAX, MIM, LUSD, sUSD) and have still maintained their peg. You know why? Because they are all overcollateralized.

StockTrix

... and here you are ! MIM connoisseur

remusftw

Quit Magic..? MIM?

Fbmstk

There's also the MIM stablecoin whose name was likely inspired by this as well (maybe indirectly)

DMCarter_

>That's not true at all. The reserve ratio influences the market value, but ultimately the market value is what it's worth, so it actually means everything. As I said, the market value comes from its price from exchanges, and these exchanges have low liquidity due to DJED not even being a month old and only having ~3 million in circulation. On an exchange, it can be less or more than one dollar, but if you redeem your DJED for ADA directly, you will get the dollar equivalent in ADA, minus fees of course. So what I said is true. If DJED on an exchange is worth less or more than a dollar, you can burn in through the smart contract. Market value is just through exchanges, while the reserves ratio shows how much the stablecoin is backed. Every stablecoin with backing has gone through massive price swings, but if you can redeem your stablecoin for dollars (or dollar value of cryptocurrencies), then it's not really depegged, since you can get your money back 1:1. >100% objectively it is depegged as long as the market value does not equal the targetted value. You can get the target value for redeeming directly. If the stablecoin price on an exchange is not $1, then just redeem it directly to get $1. This has been the case for *every* collateralized stablecoin, especially early on in their history; look at DAI, LUSD, sUSD, FRAX, and MIM for some examples of overcollateralized stablecoins fluctuating but still being just fine. As I said, market value doesn't mean anything compared to reserve ratio, and this is because reserve ratio shows how truly backed and redeemable the stablecoin is. >DJED isn't really in trouble, but then again it hasn't been battle-tested, but your reasoning is way off base. I know DJED hasn't been battle-tested, but that's a different discussion. "My reasoning" is just researching how other stablecoins were in the past, and it is pretty clear the reserve ratio is the only important thing because it's how you are able to get back the dollar (or dollar equivalent) money from the reserves.

Fritz1818

[https://www.coingecko.com/en/coins/magic-internet-money](https://www.coingecko.com/en/coins/magic-internet-money) MIM token looks to be around a dollar still. Maybe a glitch on Gemini?

Least-Courage-7610

Long live MIM and DAI

Odysseus_Lannister

Too late for BTC, too early for crypto mass adoption. Perfect time for MIM (magical internet money)

anonymouscitizen2

The ledger will verify its internal software upon startup and connection to ledger live. Just take a look at the device to make sure it hasn’t been tampered, download newest software and generate a new wallet from scratch. (If it already has a wallet generated its been tampered). Buying these devices off amazon is totally fine if you know what you are doing. The only MIM attacks have been totally unsophisticated on sites like ebay(they generate a wallet before hand and give you the words hoping you’ll use it)

Odysseus_Lannister

Bullish on $MIM

Fritz1818

Surprised MIM (magic Internet money) stablecoin is alive and kicking

outcast_Mugen

There was just an increase in coins that are "not currently available for trading" from 16 to 25 including MIM, LUNA, MIR and ORCA. Seems pretty scummy withholding assets from users.