by Miguel de Icaza

Non-government controlled currency systems are now in vogue. Currencies that are not controlled by some government that might devalue your preciously earned pesos at the blink of an eye.

BitCoin is powered by powerful cryptography and math to ensure a truly digital currency. But it poses significant downsides, for one, governments can track your every move, and every transaction is stored on each bitcoin, making it difficult to prevent a tax audit in the future by The Man.

Today, I am introducing an alternative currency system that both keeps the anonymity of your transactions, and is even more secure than the crypto mumbo jumbo of bitcoins.

Today, I am introducing the MigCoin.

Like bitcoins, various MigCoins will be minted over time, to cope with the creation of value in the world.

Like bitcoins, the supply of MigCoins will be limited and will eventually plateau. Like bitcoin, the MigCoin is immune to the will of some Big Government bureaucrat that wants to control the markets by printing or removing money from circulation. Just like this:

Projected number of Bitcoins and MigCoins over time.

Unlike bitcoins, I am standing by them and I am not hiding behind a false name.

Like BitCoins, MigCoins come with a powerful authentication system that can be used to verify their authenticity. Unlike BitCoins, they do not suffer from this attached "log" that Big Brother and the Tax Man can use to come knocking on your door one day.

How does this genius of a currency work? How can you guarantee that governments or rogue entities wont print their own MigCoins?

The answer is simple my friends.

MigCoins are made of my DNA material.

Specifically, spit.

Every morning, when I wake up, for as long as I remain alive, I will spit on a glass. A machine will take the minimum amount of spit necessary to lay down on a microscope slide, and this is how MigCoins are minted.

Then, you guys send me checks, and I send you the microscope slides with my spit.

To accept MigCoins payments all you have to do is carry a DNA sequencer with you, put the microscope slide on it, press a button, and BAM! 10 minutes later you have your currency validated.

To help accelerate the adoption of MigCoins, I will be offering bundles of MigCoins with the Ilumina MiSeq Personal DNA sequencer:

Some might argue that the machine alone is 125,000 dollars and validating one MigCoin is going to set me back 750 dollars.

Three words my friends: Economy of Scale.

We are going to need a few of you to put some extra pesos early on to get the prices to the DNA machines down.

Early Adopters of MigCoins

I will partner with visionaries like these to get the first few thousands sequencers built and start to get the prices down. Then we will hire that guy ex-Apple guy that was CEO of JC Penney to get his know-how on getting the prices of these puppies down.

Like Bitcoin, I expect to see a lot of nay-sayers and haters. People that will point out flaws on this system. But you know what?

The pace of innovation can not be held back by old-school economists that "don't get it" and pundits on CNN trying to make a quick buck. Hater are going to hate. 'nuff said.

Next week, I will be launching MigXchange, a place where you can trade your hard BitCoins for slabs of spit.

Join the revolution! Get your spit on!