I think the idea is that the contract just produces more coins on a schedule. As you can't arbitrarily start accounts (at least that's the thinking), it's the

I think the idea is that the contract just produces more coins on a schedule. As you can't arbitrarily start accounts (at least that's the thinking), it's the equivalent to the state handing you some money periodically. Mining wouldn't be necessary as the rate limit would be account creation.