Ahhh, I see now. My colleagues and I have been trying to figure out the real story behind this coin. Things didn't add up when we noticed the following:
1. For a legitimate company saying they have approximately $800k in gold reserves, they couldn't even hire a decent team to enhance the graphics, shop and videos.
2. The company seemed to be pushing some sort of credit/debit card. We couldn't fully understand the reasoning behind this concept. You give away "free" coins to miners in the hopes they will use your credit card? Now that's a great idea if you're a bank. Not so good if you're not, and I'm certain Midas Payments Ltd is not a bank.
3. With the recent launch, it seems we discover what PoM REALLY IS! Someone here is stealing hashing power to generate altcoins to cash in and fund the gold reserve. This begs the question...was there really ever a single gram of gold in the Midas reserves to begin with!
Don't waste your hash power folk. These guys were pretty good I must say, but definitely "fishy".
Too bad, there is a real Midascoin getting ready to launch (from what I heard they've been working hard at the program for 6 months) where the coin is definitely backed by real gold coins. From what I understand the coin will be premined and each Midascoin will represent a "contract of ownership" of 1/100 of a gram of real gold (coin). I also heard that they are open to people helping them with the mobile code. Their gold reserve will be held in a certified vault and they are going to have audits of the coins every so often to prove the backing. Check these guys out at midascoin.org.
Good luck to all who have been violated by "this" version of midas.