PMXX People’s Money Explained

You have likely taken it for granted. 

Have you ever given any serious thought to what money is?

The printed notes in your pocket (currency) is a medium of exchange. Which means it is generally accepted for the payment of goods or services and the repayment of debt.

WHO PRINTS AND CONTROLS MONEY?

Currency is printed and controlled by a nation’s central bank. For example, The US Federal Reserve controls the supply of money and mints new notes when necessary. 

HOW DOES MONEY WORK?

Money has four main functions:

1. A Medium of exchange: It is acceptable as payment for goods and services and debt repayment.
2. A measure of value: It acts as a standard measure and a common denomination of trade. This forms the basis for price quoting and bargaining. 
3. A Standard of deferred payment: It acts as an acceptable way to settle a debt.
4. A Store of value: The fact that it can be saved, stored, and retrieved makes it a store of value. 

IS GOLD MONEY?

Gold has historically been a metal of immense intrigue and significance. The Inca’s called it “tears of the sun”. For many years in antiquity, Gold and other precious metals were used as currency. 

In the 19th and early part of the 20th century, we had the Gold standard monetary system where a standard amount of currency was based on a fixed amount of Gold. However, world governments abandoned the Gold standard for the current system of fiat money we have today. 

WHAT IS FIAT MONEY?

Fiat money does not originate from any intrinsic value or guarantee that’s convertible into valuable Gold or other precious metal. Instead, the value of currency today is by government order (fiat). 

Through a Central Bank, the government declares the currency to be an acceptable form of payment (legal tender) and outlaws the refusal to accept it as repayment for all debts.

WHAT DO WE MEAN BY PEOPLE’S MONEY?

The PMXX People’s Money concept is simple.

Unlike fiat currency, PMXX People’s Money is digital money. It is decentralized and controlled by regular people, not central banks or governments.

HOW IS THAT POSSIBLE?

The People’s Money ecosystem is built on top of the Polygon blockchain, enabling decentralized transactions.

All payments transact peer-to-peer. No third party is required to act as an intermediary.

MBMX is your ATM and Payment Settlement System.

Every transaction made is processed, confirmed, and secured by the Polygon network.

Furthermore, only 10 Million PMXX will be minted. This finite supply ensures it cannot be inflated, unlike fiat currency.

HOW IS THAT BENEFICIAL?

Fiat money is responsible for numerous periods of currency-related financial instability globally, the most recent being the global financial crisis of 2008. The aftermath was a never before seen global monetary expansion coordinated by leading central banks.

These actions raised concerns about the economic stewardship of these financial bodies.

PMXX peer-to-peer digital transactions go from one party to another without intermediaries (banks and other financial institutions).

What’s more PMXX People’s Money (Metal Backed Money) is backed by Gold and Platinum, a natural progression in the evolution of money. Thus, PMXX users have access to an asset with Gold (and Platinum) scarcity and price stability, but with the transactional efficiency of a digital PMXX – a unique permutation of financial features.

Blockchain can be defined as a shared ledger, allowing thousands of connected computers or servers to maintain a single, secured, and immutable ledger.

The wallets are secured by cryptographic methods (public and private keys) so that one can manage and have full control over all transactions.

Initially, when a user creates a transaction over a Blockchain network, a block will be created, representing that transaction is created. Once a block is created, the requested transaction is broadcasted over the peer-to-peer network, consisting of computers, known as nodes, which then validate the transaction.

A verified transaction can involve cryptocurrency, contracts, records, or any other valuable information.

Once a transaction is verified, it is combined with other blocks to create a new block of data for the ledger.

Blockchain is a technology created to solve the problem of centralization. There’s an old expression about putting all your eggs in one basket. If the basket is compromised, you lose everything. In current terms, imagine you’re at the grocery store, and you made it to the counter with a full trolley. You whip out your debit card to make the payment, but the card is rejected. Maybe the bank’s system is down, or the card has been flagged for suspicious behavior.

Yet you know you have a fully funded account, and there are no suspicious transactions. Since you rely on the bank to clear your payments, you’re basically at their mercy.
With blockchain technology, making payments is as easy as sending an email. It is designed to track transactions accurately and transparently so that everyone on the network has a transaction record. Though Blockchain is often referred to in discussions about cryptocurrencies, the technology is used in various industries to create smart contracts.

Blockchain technology provides a platform for safe transactions without a third party such as a bank.

WHAT ARE SOME ADVANTAGES OF BLOCKCHAIN?

• They’re global: which means that cryptocurrencies can be sent across the planet quickly and cheaply.
• They increase privacy: Cryptocurrency payments don’t require you to include your personal information, which protects you from being hacked or having your identity stolen.
• They’re open: Because every single transaction on cryptocurrency networks is published publicly in the form of the blockchain, anyone can scrutinize them. That leaves no room for manipulation of transactions, changing the money supply, or adjusting the rules mid-game. The software that constitutes the core of these currencies is free and open-source so anyone can review the code.

With PMXX People’s Money, you will be able to buy and sell on the exchange.

You will be able to exchange the PMXX for other currencies (€ $ ¥), crypto currencies, services, goods, etc.

Trading PMXX People’s Money follows the same principle as trading foreign currencies with just a few differences. First, the market doesn’t close since the currency does not rely on third parties.

As with other digital currencies, the price of PMXX may vary in different countries, as the price is determined by demand and supply.

When you log into your preferred trading platform as a beginner, it may seem complicated, but it isn’t. What’s important is to have a goal before you initiate a trade. “Let’s just see how things go” is a risky strategy.

Some traders profit from numerous trades, each with small profit margins. Others prefer to set a goal and trade when the price matches their goal. Each strategy has its risks, so the decision will depend on you.

You have complete control over when and how you sell PMXX. It is a Gold-backed digital currency, which makes its price stable. This feature also reduces long-term investment risk. Short-term fluctuations will naturally occur but are unlikely to have the same volatility as in fiat currencies and other digital currencies.

Investors use Gold as a shield against rapid inflation, protecting the value of their overall portfolio.

Total PMXX People’s Money.

The total supply of PMXX is 10,000,000 tokens.

The total supply is distributed over different token exchanges to ensure easier trading. All the tokens taken together will never exceed the total cap of 10 Million PMXX.

PMXX Built-In Stop-Loss Algorithm

The PMXX Built-In Stop-Loss algorithm is now running.

The Stop-Loss algorithm will never drop below 500 million USD per 10 million PMXX minted, equivalent to approximately 7% of all inground Gold & Platinum assets in the Texas K-150 mine.

The mining and the amounts of physical Gold & Platinum assets will increase as the business grows and more PMXX cryptocurrency will be in trading in the marketplace.

Once People’s Money fully approves mines, we will make a business trade with them and help them upgrade their operations to today’s standards. For example, many Gold mines around the world operate with outdated equipment and archaic practices. Proceeds we derive from the mines we aim to partner with will be used to upgrade mining operations, increasing productivity and safety.

Many small contractors and mining towns depend on mining activities for their sustenance, and we aim to do our part. We have a strong focus on children in poor mining communities. Communities around mines have suffered exploitation in the past.

Their children are employed in the mines, a dangerous practice that robs them of their childhood. Instead of working in mines, we will help children go to school and get an education.

By investing in PMXX, you will be part of our efforts to provide educational resources for children in these communities.