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Title: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: bidji29 on October 29, 2013, 08:10:28 AM Few months ago, mcxNOW sold 5000 share (5%) of the site revenue for 500BTC in less than an hour.
This week, they are trying to raise 18,000BTC! for the last 45,000 (45%) share. - IPO page (https://mcxnow.com/buymcx.html) - You can follow the progression in real-time And already 6200 mcxFEE have been sold for 2500BTC in less than 2 hours. It's crazy. UPDATE : The mcxFEE holders round is now over. It will open to public in 15 minutes! Be ready! UPDATE 2 : 2 MILLIONS dollars invested ! UPDATE 3 : The public round will close in 12 hours! UPDATE 4 : IPO is over, mcxFEE are tradable on the open market Title: Re: [MCXNOW IPO] : 45,000 Shares public offering [LIVE] Post by: Rannasha on October 29, 2013, 08:26:38 AM Few months ago, mcxNOW sold 5000 share (5%) of the site revenue for 500BTC in less than an hour. They're not trying to raise money, they're trying to cash out. The site is ready and operational, so it doesn't need to raise additional capital.This week, they are trying to raise 18,000BTC! for the last 45,000 (45%) share. Quote And already 6200 mcxFEE have been sold for 2500BTC in less than 2 hours. It's crazy. Yes, it's crazy. But not in a good way. It's a clever trick though, first release only a small number of shares to create scarcity, which drove up the price. Then offer a much larger batch that is slightly below the market price to make the offer look appealling, while simultaneously locking trade of the outstanding units to prevent the price from falling.It doesn't take much to imagine what the price will do once trading is unlocked again and thousands of new shares hit the field. Also, a valuation of 40,0000 BTC ($8M!) for yet-another-altcoin-exchange is completely insane. But congrats to RealSolid for finding a way to cash out bigtime. Title: Re: [MCXNOW IPO] : 45,000 Shares public offering [LIVE] Post by: dexX7 on October 29, 2013, 08:26:55 AM Can you post a list with all mcxFEE payouts or link me to one?
The presented data is vague and sparse and especially useless when nominated only in USD. ;) Edit: Thanks for the link. Title: Re: [MCXNOW IPO] : 45,000 Shares public offering [LIVE] Post by: bidji29 on October 29, 2013, 08:28:34 AM mcxFEE data and Yield : https://docs.google.com/spreadsheet/ccc?key=0AioqMMSVIC5tdFplWndsdmZuaGxyN01xemxtNWYxVGc#gid=0
You can see the yield is 10%+ based on last 30 days average. @Rannasha : considering this current Yield + the future growth (RealSolid is planning to add Gambling and Gaming to the exchange), i think it's a really fair price. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: jeffshed on October 29, 2013, 11:22:25 AM that put the market capitalisation of the site at 8mil by my calcs.....
value<<<<<<<<<marketcap no way jose Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: ThickAsThieves on October 29, 2013, 12:04:11 PM Isn't mcxnow a ponzi that gives everyone with a balance money?
Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: gannicus on October 29, 2013, 01:04:52 PM Isn't mcxnow a ponzi that gives everyone with a balance money? and how does this possibly fit as a ponzi (considering that the money given away is money already earned by fees)? Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: bidji29 on October 29, 2013, 01:46:39 PM The interest are not funded by the money deposited by the newcomers. It's funded by the trading fee.
25% of all trading fee are reversed to the users. The more people deposit coins, the more the interest is lower, because it dilute the trading fee. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: muto on October 29, 2013, 01:52:23 PM what´s the average return rate per month for the last two month in Bitcoin?
Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: Rannasha on October 29, 2013, 02:05:30 PM mcxFEE data and Yield : https://docs.google.com/spreadsheet/ccc?key=0AioqMMSVIC5tdFplWndsdmZuaGxyN01xemxtNWYxVGc#gid=0 You can see the yield is 10%+ based on last 30 days average. @Rannasha : considering this current Yield + the future growth (RealSolid is planning to add Gambling and Gaming to the exchange), i think it's a really fair price. The annualized yield is 10%, which in Bitcoin terms is quite low. Especially if you include the risk-factors of RealSolids lackluster reputation and the uncertain future of altcoins. And I don't think "RealSolid is planning to add Gambling and Gaming to the exchange" is sufficient reason for a $8M (40K BTC) valuation. Branching out into a different direction doesn't require the 18,000 BTC that mcxNOW is trying to collect. Nor is there any concrete plan or justification of what the money will be used for. Hell, there isn't even a guarantee that holders of mcxFee will profit from these other ventures. It's a cashout. And flooding the small mcxFee market with 9 times the current number of shares is going to wreak havoc on the share price, especially given the low returns. Which is why trading on current shares has been conveniently locked for the time of the sale of the new shares. Can't have the market reflect its true valuation of the asset in the shareprice now, can we? Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: MPOE-PR on October 29, 2013, 03:15:06 PM Few months ago, mcxNOW sold 5000 share (5%) of the site revenue for 500BTC in less than an hour. This week, they are trying to raise 18,000BTC! for the last 45,000 (45%) share. - IPO page (https://mcxnow.com/buymcx.html) - You can follow the progression in real-time And already 6200 mcxFEE have been sold for 2500BTC in less than 2 hours. It's crazy. Between the scammy failures of the operator's past (https://bitcointalk.org/index.php?topic=48344.0) and the multiple shilly marketing posts (https://bitcointalk.org/index.php?topic=265868.msg3113892#msg3113892) like this one, I'd say get lost. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: bidji29 on October 29, 2013, 04:29:12 PM Between the scammy failures of the operator's past (https://bitcointalk.org/index.php?topic=48344.0) and the multiple shilly marketing posts (https://bitcointalk.org/index.php?topic=265868.msg3113892#msg3113892) like this one, I'd say get lost. BCX is know for having something personal against RealSolid. Always preaching the end of world and the eternity in hell for people who deal with him. He would find a way to scream SCAM with RS donating a kidney. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: somestranger on October 29, 2013, 05:39:11 PM Few months ago, mcxNOW sold 5000 share (5%) of the site revenue for 500BTC in less than an hour. This week, they are trying to raise 18,000BTC! for the last 45,000 (45%) share. - IPO page (https://mcxnow.com/buymcx.html) - You can follow the progression in real-time And already 6200 mcxFEE have been sold for 2500BTC in less than 2 hours. It's crazy. Between the scammy failures of the operator's past (https://bitcointalk.org/index.php?topic=48344.0) and the multiple shilly marketing posts (https://bitcointalk.org/index.php?topic=265868.msg3113892#msg3113892) like this one, I'd say get lost. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: MPOE-PR on October 29, 2013, 06:35:36 PM BCX is know for having something personal against RealSolid. Always preaching the end of world and the eternity in hell for people who deal with him. He would find a way to scream SCAM with RS donating a kidney. Right, solidcoin and microcash weren't scammy failures because Mr. Four Month Old Account says so. BCX or no BCX (https://bitcointalk.org/index.php?topic=77286.0), this isn't gonna fly. For once I agree with you. There's no way this company is worth that much. First time for everything, eh. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: adameb on October 29, 2013, 06:48:25 PM Few months ago, mcxNOW sold 5000 share (5%) of the site revenue for 500BTC in less than an hour. This week, they are trying to raise 18,000BTC! for the last 45,000 (45%) share. - IPO page (https://mcxnow.com/buymcx.html) - You can follow the progression in real-time And already 6200 mcxFEE have been sold for 2500BTC in less than 2 hours. It's crazy. Between the scammy failures of the operator's past (https://bitcointalk.org/index.php?topic=48344.0) and the multiple shilly marketing posts (https://bitcointalk.org/index.php?topic=265868.msg3113892#msg3113892) like this one, I'd say get lost. It'd only take you 80 months to get back your investment in dividends. No time at all. Solid investment. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: bidji29 on October 29, 2013, 08:05:21 PM mcxNOW generated 10,000$ in june, and 90,000 this month. That's a huge increase. And there is plenty growth vector left.
So yeah, the company is worth millions. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: Rannasha on October 29, 2013, 08:18:38 PM mcxNOW generated 10,000$ in june, and 90,000 this month. That's a huge increase. And there is plenty growth vector left. So yeah, the company is worth millions. The 90K from this month comes for a very large part from 2 days with vastly more activity (coincidentally in a period with very high BTC/USD volatility). It is hardly a sign of a sustained growth. As for the "plenty of growth vector left", I am not so sure as there doesn't seem to be anything relevant actually happening in alt-coin-land other than the endless torrent of pointless clones coming out. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: adameb on October 29, 2013, 08:46:04 PM mcxNOW generated 10,000$ in june, and 90,000 this month. That's a huge increase. And there is plenty growth vector left. So yeah, the company is worth millions. By what method? Discounted cash flow, earnings multiplier...? What comparables are you using? I'm really curious about the assumptions that people have in place to justify this valuation. "It will still be around, and there will be no better exchange in 18 months" is a tough one. Title: Re: [MCXNOW IPO] : 45,000 Shares public offering [LIVE] Post by: Atruk on October 29, 2013, 09:15:10 PM Few months ago, mcxNOW sold 5000 share (5%) of the site revenue for 500BTC in less than an hour. They're not trying to raise money, they're trying to cash out. The site is ready and operational, so it doesn't need to raise additional capital.This week, they are trying to raise 18,000BTC! for the last 45,000 (45%) share. It seems like it can't be anything other than a cash out. Quote Quote And already 6200 mcxFEE have been sold for 2500BTC in less than 2 hours. It's crazy. Yes, it's crazy. But not in a good way. It's a clever trick though, first release only a small number of shares to create scarcity, which drove up the price. Then offer a much larger batch that is slightly below the market price to make the offer look appealling, while simultaneously locking trade of the outstanding units to prevent the price from falling.It doesn't take much to imagine what the price will do once trading is unlocked again and thousands of new shares hit the field. Also, a valuation of 40,0000 BTC ($8M!) for yet-another-altcoin-exchange is completely insane. But congrats to RealSolid for finding a way to cash out bigtime. I imagine in a few months a lot of people will be cursing RealSolid's name when the exchange goes dark and he disappears yet again. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: bidji29 on October 29, 2013, 09:30:36 PM There is 3 growth vector :
-Simply increase the volume of trading. There is a lot of room left on some coins, like LTC and FTC. -Gambling/gaming. This is next things to be added to the site -Microcash : the next generation cryptocurrency. mcxNOW will be the principal exchange Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: Atruk on October 29, 2013, 11:15:56 PM There is 3 growth vector : -Simply increase the volume of trading. There is a lot of room left on some coins, like LTC and FTC. -Gambling/gaming. This is next things to be added to the site -Microcash : the next generation cryptocurrency. mcxNOW will be the principal exchange On the downside there is a piece of shit operator with a habit of disappearing. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: lophie on October 30, 2013, 01:00:33 AM There is 3 growth vector : -Simply increase the volume of trading. There is a lot of room left on some coins, like LTC and FTC. -Gambling/gaming. This is next things to be added to the site - :D Microcash ;D : the next generation cryptocurrency. mcxNOW will be the principal exchange ::) Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: drawingthesun on October 30, 2013, 01:14:51 AM If the site is running fine and will generate more and more profits, it's in RealSolids best interest to keep as much profit to himself over the long term. Raising money when its not going to be needed it a quick cash grab. Most founders hate giving up shares in their companies because in the long run they lose juicy profits and such, but they do this because the money is needed for facilities and staff (See the startup scene around California)
Think about it. Now his share of the profits are even lower so his long term incentive to keep developing is even lower. That money is not needed to do anything. Maybe if he spent all the 18,000 Bitcoin on becoming a fully verified and legal USD/EURO exchange? Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: bidji29 on October 30, 2013, 11:25:04 AM There is 3 growth vector : -Simply increase the volume of trading. There is a lot of room left on some coins, like LTC and FTC. -Gambling/gaming. This is next things to be added to the site - :D Microcash ;D : the next generation cryptocurrency. mcxNOW will be the principal exchange ::) Those things are not here yet, that's why I called that growth vector. But the trading volume is increasing every weeks, so it's not crazy to think it will continue. There is a lot of volume on LTC and FTC at BTC-e mcxNOW can get. The gambling/gaming will arrive soon. 2weeks, 1 month or 2 i don't know, but it will increase revenue for sure. Microcash is probably the things I have the least trust in succeding and generating lot of revenue, but it's a really great project and props to RealSolid for doing it. On the IPO topic : The site raised 1 MILLION dollar in 12 hours! Great! And it's not even open to public yet... Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: drawingthesun on October 30, 2013, 11:35:59 AM But the trading volume is increasing every weeks, so it's not crazy to think it will continue. Regardless of this being a scam or not, the line of thinking in this quote decribes every large financial crash the world has ever seen. Sure sometimes you are right, but make an informed opinion based on facts and such, just because a trend for a few weeks has been spotted does not mean that trend will continue. I will give you a counter point, just food for thought yeah. What if the traffic and trade volume has been increasing because:
Things to consider that will erode your share value:
Trends are mostly in a curve shape, they have a peak and fall. Make sure you are not buying at MCX's "peak". Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: bidji29 on October 30, 2013, 12:26:09 PM I agree with you people need to make informed decision.
I think my assumption the trading volume will increase is not void of sense. Because right now, mcxNOW is "stealing" marketshare of the other exchange and there is plenty of room left, especially with Litecoin. Why it's stealing marketshare? Two reason : -Interest on deposit : that's basically free money to attract people on the exchange, and it's working nicely. - But more importantly, and you're gonna say it's subjective, but the quality of the site is miles better than any other exchange. You have to try it and try the competitor. It's night and day. It's faster, smoother, very pleasing to trade. The interest attract users, and the quality make them stay. RealSolid said the interest on Deposit is a temporary feature, he could scrap it any moment. I don't think he will do it soon but even if he does, i don't think people would leave because the exchange is good in itself. My opinions are pretty informed. I even made a GoogleDoc on the mcxFEE to calculate return : https://docs.google.com/spreadsheet/ccc?key=0AioqMMSVIC5tdFplWndsdmZuaGxyN01xemxtNWYxVGc#gid=0 And if you want some real data on the growth of the exchange just look at this graph : https://i.imgur.com/iefJ3Bq.png From 1,000 to 10,000 Bitcoin deposited on the exchange in a month. After that, you can see the total lowering, it's because of the BTC price rise. That's one of the CON point of an exchange like mcxNOW, who doesn't trade FIAT. When BTC is in a big ascendant phase, there is a lot less volume in Altcoin trading. But generally the volume come back stronger when the BTC price stabilize and Altcoin are at a low point. ------------ RealSolid is Australian and he made sure everything he was doing was legal. That's why you can't buy share of the exhange, but share in the trading revenue. The first would be illegal. That's why you'll never see Fiat on mcxNOW, because it would bring regulation. And he think too much Regulation kill Innovation. With Fiat, the interest on deposit feature would have been impossible. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: Pale Phoenix on October 30, 2013, 04:35:36 PM RealSolid is Australian and he made sure everything he was doing was legal. That's why you can't buy share of the exhange, but share in the trading revenue. The first would be illegal. Please explain how raising funds by issuing shares of "fees" qualifies for an exemption under Australian law. http://www.asic.gov.au/asic/asic.nsf/byheadline/Raising+funds+in+Australia?openDocument Everything about this investment, from the valuation to the marketing of the IPO, foreshadows eventual investor despair. Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: bidji29 on October 31, 2013, 09:58:57 AM RealSolid is Australian and he made sure everything he was doing was legal. That's why you can't buy share of the exhange, but share in the trading revenue. The first would be illegal. Please explain how raising funds by issuing shares of "fees" qualifies for an exemption under Australian law. http://www.asic.gov.au/asic/asic.nsf/byheadline/Raising+funds+in+Australia?openDocument Everything about this investment, from the valuation to the marketing of the IPO, foreshadows eventual investor despair. Because it's not a share in "mcxNOW, the australian company". Simple as that. And you're not buying it with fiat. And it doesn't return fiat. It's pure crypto. See the mcxFEE like an in-game token granting you some in-game money. If buying an object in World of Warcraft with gold is not illegal, then buying mcxFEE isn't too. The fact you can exchange WoW gold with Fiat (like you can with crypto) doesn't change anything. Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 minut for remaining shares ! Post by: bidji29 on November 01, 2013, 04:30:21 AM UPDATE : The mcxFEE holders round is now over. It will open to public in 15 minutes! Be ready!
Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: jeffshed on November 01, 2013, 05:13:30 AM lol the sites down.
Does this mean realsolid has done a snatch and run? or a ddos? or to much traffic? be interesting to see how this pans out :) edit:back again must be traffic.... Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: radiumsoup on November 01, 2013, 01:40:54 PM lol the sites down. b...b...but it's powered by C++! It can't go down!Does this mean realsolid has done a snatch and run? or a ddos? or to much traffic? be interesting to see how this pans out :) Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: minerpart on November 01, 2013, 03:36:33 PM I'm confused as to why anyone would want to use this exchange when the fees are now more expensive than BTC-e.
It costs more to trade alt coins on mcxnow - check. OK so maybe it's liquidity? Well there are over 3k logged into BTC-e right now but only a third of that number logged into mcx on a huge news day! So there is only a third of the number of users on mcxnow - check. :-\ EDIT: mcxnow-- People buying Litecoin 74.41773458 BTC (TOTAL) BTC-e (Litecoin) Buy orders Total: 2736.35 BTC Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: bidji29 on November 01, 2013, 08:30:16 PM I'm confused as to why anyone would want to use this exchange when the fees are now more expensive than BTC-e. It costs more to trade alt coins on mcxnow - check. OK so maybe it's liquidity? Well there are over 3k logged into BTC-e right now but only a third of that number logged into mcx on a huge news day! So there is only a third of the number of users on mcxnow - check. :-\ EDIT: mcxnow-- People buying Litecoin 74.41773458 BTC (TOTAL) BTC-e (Litecoin) Buy orders Total: 2736.35 BTC Why anyone would want to use mcxNOW over BTC-e? -Interest on deposit -Faster -Some coin have more volume on mcxNOW mcxnow-- Primecoin trading volume 360 BTC BTC-e Primecoin , Total: 130 BTC Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: pascal257 on November 01, 2013, 08:39:01 PM amazing company!
Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: lophie on November 01, 2013, 10:33:35 PM yawn no one is buying lol. About half the release is still open for the public, Wow what a great catch. ::) ,
Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: bidji29 on November 02, 2013, 10:04:10 AM yawn no one is buying lol. About half the release is still open for the public, Wow what a great catch. ::) , You don't raise 18,000BTC in a day. mcxNOW raised 10,000 in 4 days, it's pretty good. Title: Re: [MCXNOW IPO] : 1.2M$ raised - Public opening in 15 min. for remaining shares ! Post by: radiumsoup on November 02, 2013, 09:36:37 PM yawn no one is buying lol. About half the release is still open for the public, Wow what a great catch. ::) , You don't raise 18,000BTC in a day. mcxNOW raised 10,000 in 4 days, it's pretty good. Title: Re: [MCXNOW IPO] : 1.2M$ raised [UPDATE : 2Millions now] Post by: eve on November 03, 2013, 02:33:50 AM Could someone please posts the BTC Address they used for the current IPO? Thanks
Title: Re: [MCXNOW IPO] : 1.2M$ raised [UPDATE : 2Millions now] Post by: bidji29 on November 04, 2013, 12:17:35 PM The trading of mcxFEE will resume Wednesday
Title: Re: [MCXNOW IPO] : 1.2M$ raised [UPDATE : 2Millions now] Post by: tyranosaur on November 04, 2013, 06:30:27 PM The trading of mcxFEE will resume Wednesday Any guess how low they'll drop once trading starts? I'm thinking they'll drop to at least 0.2, maybe 0.15. What time will this be? I want to have some popcorn ready! Title: Re: [MCXNOW IPO] : 1.2M$ raised [UPDATE : 2Millions now] Post by: bidji29 on November 04, 2013, 07:43:00 PM The trading of mcxFEE will resume Wednesday Any guess how low they'll drop once trading starts? I'm thinking they'll drop to at least 0.2, maybe 0.15. What time will this be? I want to have some popcorn ready! With the bitcoin price rise, i think they will drop a bit after the release. They won't go at 0.2, the return are too high. Maybe some at 0.38 but not much. But by the end of November, i think they will be 0.45+ Title: Re: [MCXNOW IPO] : 1.2M$ raised [UPDATE : 2Millions now] Post by: tyranosaur on November 04, 2013, 10:24:13 PM The trading of mcxFEE will resume Wednesday Any guess how low they'll drop once trading starts? I'm thinking they'll drop to at least 0.2, maybe 0.15. What time will this be? I want to have some popcorn ready! With the bitcoin price rise, i think they will drop a bit after the release. They won't go at 0.2, the return are too high. Maybe some at 0.38 but not much. But by the end of November, i think they will be 0.45+ Lol. There's 18,000 left unsold at 0.4btc. You think people will pay 0.38 when they won't pay 0.4? If you believe they're a good investment, then good for you. I just hope you were smart enough to wait to buy because they will be significantly cheaper come Wednesday. Title: Re: [MCXNOW IPO] : 1.2M$ raised [UPDATE : 2Millions now] Post by: bidji29 on November 05, 2013, 01:07:56 AM The trading of mcxFEE will resume Wednesday Any guess how low they'll drop once trading starts? I'm thinking they'll drop to at least 0.2, maybe 0.15. What time will this be? I want to have some popcorn ready! With the bitcoin price rise, i think they will drop a bit after the release. They won't go at 0.2, the return are too high. Maybe some at 0.38 but not much. But by the end of November, i think they will be 0.45+ Lol. There's 18,000 left unsold at 0.4btc. You think people will pay 0.38 when they won't pay 0.4? If you believe they're a good investment, then good for you. I just hope you were smart enough to wait to buy because they will be significantly cheaper come Wednesday. And you think people are ready to sell under 0.4 when they just bought at this price? All of the share were not sold, because 18,000BTC is too huge. But 10,000BTC were spend at 0.4. I think it's a very strong sign it's worth that much. Title: Re: [MCXNOW IPO] : 1.2M$ raised [UPDATE : 2Millions now] Post by: bidji29 on November 05, 2013, 01:53:53 PM Only 12 hours left to buy some.
All mcxfee not sold will return to the owner balance. And probably sold later at a highter price (without halting the market this time) Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 9 HOURS LEFT ! ] Post by: biodieselchris on November 05, 2013, 05:53:35 PM so what are the "company" founders going to do with $1.2M they raised?
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 9 HOURS LEFT ! ] Post by: tyranosaur on November 05, 2013, 06:34:36 PM so what are the "company" founders going to do with $1.2M they raised? Roll around naked in a pile of money while they laugh at the suckers that gave their bitcoins away. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 9 HOURS LEFT ! ] Post by: bidji29 on November 05, 2013, 07:48:03 PM so what are the "company" founders going to do with $1.2M they raised? It's 11,000BTC, so it' more like 2.5 Millions. There is a lot of things to come. mcxNOW want to do Gaming and Gambling. It may seems weird to do that on a exchange.. But all the security stuff is already here, the coin are already deposited too. So it's very complementary. And it's only possible with Bitcoin and the cryptoworld in general, because in the real world, regulation would kill those ideas in the eggs. mcxNOW is the future :) Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: bidji29 on November 05, 2013, 11:19:17 PM 2 hours left !
After it will be too late to get some at 0.4 Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: trade-for-pokermoney on November 05, 2013, 11:24:18 PM 2 hours left ! After it will be too late to get some at 0.4 hahahaha yes, because they will be 0,2 Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: glendall on November 05, 2013, 11:40:34 PM Hmm an exchange that was open to sell the scam coin mincoin? Oh boy I want to invest that, take all my money, I'm sure that'll be a good investment.
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: apollojmr on November 05, 2013, 11:56:39 PM I am and have been using mcx and I can tell you its real..they may run with all the money someday..but for now I have made some coins in interest..hopefully it keeps up:)
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: bidji29 on November 06, 2013, 12:48:18 AM 1 hours left!
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: mindragon on November 06, 2013, 01:08:56 AM 1 hours left! 1 HOUR left. Gawd ... what is it with developers and bad English? Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: bidji29 on November 06, 2013, 02:09:37 AM 1 hours left! 1 HOUR left. Gawd ... what is it with developers and bad English? I'm not dev and i'm french :p Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: mindragon on November 06, 2013, 02:41:02 AM 1 hours left! 1 HOUR left. Gawd ... what is it with developers and bad English? I'm not dev and i'm french :p Wow. I did not know it was possible to have a triple negative in a sentence. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: tyranosaur on November 06, 2013, 03:44:17 AM 2 hours left ! After it will be too late to get some at 0.4 Down to 0.3 already. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : 2 HOURS LEFT ! ] Post by: inspiredinvestor on November 06, 2013, 04:29:43 AM 2 hours left ! After it will be too late to get some at 0.4 Down to 0.3 already. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: biodieselchris on November 06, 2013, 05:06:44 PM Mega buyer remorse with MCX now at HALF PRICE.
lame. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: twentyseventy on November 06, 2013, 05:31:51 PM A massive, doomed-to-be-undersubscribed IPO? How could it go wrong?!
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: biodieselchris on November 06, 2013, 05:36:33 PM what country are the founders from and/or servers located. I would be careful with gambling. Why not just run an exchange and focus on the uniqueness of micro-payments to the balance-holders and shareholders? That's sounds good enough to me. The domain registrar is Panama. That is a red flag. New BTC outfits are about trust above all else. Who can trust this?
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: bidji29 on November 06, 2013, 08:36:55 PM what country are the founders from and/or servers located. I would be careful with gambling. Why not just run an exchange and focus on the uniqueness of micro-payments to the balance-holders and shareholders? That's sounds good enough to me. The domain registrar is Panama. That is a red flag. New BTC outfits are about trust above all else. Who can trust this? Company and founder are australian Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Rannasha on November 15, 2013, 10:58:08 AM Just to bump this for giggles. mcxFEE is now trading at 0.25, while the second IPO was at 0.4. At the current rate of dividends, it'll take IPO buyers years to earn back this loss. People who were holding units from the first IPO batch also got hosed, the units were trading at 0cv.53 when they were locked to prevent public m arket trading from competing with demand for IPO shares.
Well played by RealSolid, pocketing himself a 10K+ BTC retirment fund while leaving investors to worry whether they'll make their money back. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: pascal257 on November 15, 2013, 01:48:07 PM Just to bump this for giggles. mcxFEE is now trading at 0.25, while the second IPO was at 0.4. At the current rate of dividends, it'll take IPO buyers years to earn back this loss. People who were holding units from the first IPO batch also got hosed, the units were trading at 0cv.53 when they were locked to prevent public m arket trading from competing with demand for IPO shares. Do you really think someone bought this crap? I think it was a big hoax and only a few shares were actually sold.Well played by RealSolid, pocketing himself a 10K+ BTC retirment fund while leaving investors to worry whether they'll make their money back. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Rannasha on November 15, 2013, 01:57:37 PM Just to bump this for giggles. mcxFEE is now trading at 0.25, while the second IPO was at 0.4. At the current rate of dividends, it'll take IPO buyers years to earn back this loss. People who were holding units from the first IPO batch also got hosed, the units were trading at 0cv.53 when they were locked to prevent public m arket trading from competing with demand for IPO shares. Do you really think someone bought this crap? I think it was a big hoax and only a few shares were actually sold.Well played by RealSolid, pocketing himself a 10K+ BTC retirment fund while leaving investors to worry whether they'll make their money back. What I've learned from the short time spent on this forum is not to underestimate the amount of people willing to buy into scams. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: chaosknight on November 15, 2013, 04:08:31 PM Oh, why did the mcxfee drop so much, anybody know what is the current fee earnings?
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: bidji29 on November 16, 2013, 08:07:50 AM mcxFEE data : https://docs.google.com/spreadsheet/ccc?key=0AioqMMSVIC5tdFplWndsdmZuaGxyN01xemxtNWYxVGc#gid=0
mcxFEE dropped because of bitcoin rise. The price is still the same in USD value. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Rannasha on November 16, 2013, 08:18:24 AM mcxFEE data : https://docs.google.com/spreadsheet/ccc?key=0AioqMMSVIC5tdFplWndsdmZuaGxyN01xemxtNWYxVGc#gid=0 Doesn't work here, gives an unspecified error.Quote mcxFEE dropped because of bitcoin rise. The price is still the same in USD value. Keep thinking that. mcxFEE dropped because of obvious price manipulation. First RS releases only a very small amount of mcxFEE, creating artificial scarcity which drives up the price, even though said price doesn't reflect the underlying value. Once the price increased to sufficient levels, a new batch that is 9 times as large as the first one is put up for sale. Normally what happens to a market in such a case is a crash of the price of the asset and not much interest for the new offering. So what does RS do? He locks trading on mcxFEE, so that it neatly shows 0.53 as last price, while the new shares are offered at 0.4. An apparent bargain. But as expected when the number of available shares is multiplied to this extent: The price drops after trading is reopened, since the revenue doesn't justify the price. Also, if the price of mcxFEE does indeed follow the USD/BTC rate, then it's an even worse investment. That would mean your BTC-value would go down if BTC/USD goes up. Yet you're still investing in BTC/crypto, so you're exposed to all the risks. Why not just hold BTC in a wallet in this case? Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: bidji29 on November 16, 2013, 12:39:10 PM Lol you seems to forget mcxFEE give dividends every day. That's the point to hold it.
Of course if BTC rise like in the past week, it's better to hold BTC. But don't forget mcxNOW will grow in the future too, Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Rannasha on November 16, 2013, 01:22:04 PM Lol you seems to forget mcxFEE give dividends every day. That's the point to hold it. Yes... an annualized yield of 10% or so I believe. If that was based on the previous valuation of 0.4, then that's 0.04 BTC per share per year. Currently shares are trading 0.16 BTC below the second IPO price, so it only takes people 4 years to recover the value they lost from the price-drop before they start to profit. That sounds appealing.Quote Of course if BTC rise like in the past week, it's better to hold BTC. But don't forget mcxNOW will grow in the future too, There have been investments that have made positive returns in BTC despite the rise of the BTC/USD rate. The second statement that mcxNOW *will grow* is a bold claim. It hopes to grow, or intends to grow, but unless you have powers of precognition, you can't with a straight face say that it will grow. The alt-coin market is volatile and may not grow at all beyond its current volume.The point remains that any investor that wanted to buy mcxFEE and had at least some level of independent thought could've figured out that this undersold IPO would cause prices to drop and that it'd be far better to pick up shares after market trading was resumed. Finally, I still believe that the entire sequence of events is price manipulation by RS to get the most cash out of it by pumping the price with artificial scarcity and then locking the market to prevent it from reflecting its true sentiment on the fact that the publicly available share-count was increased by a factor 10. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: mr_random on November 17, 2013, 12:36:01 AM Look today at how much the trading volumes are now for the coins:
Litecoin: 29BTC Primecoin: 29BTC Peercoin: 3BTC Feathercoin: 2BTC Mincoin: 2BTC Solidcoin: 3BTC Devcoin: 2BTC Worldcoin: 353BTC <-- only coin with good trading volume Copperlark: 1BTC That is a substantial drop compared to the period when the funds were being raised. It makes you wonder whether the trading volumes were pumped by the site owner to make the site appear more profitable than it really is? Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: moderate on November 17, 2013, 02:03:28 AM Look today at how much the trading volumes are now for the coins: Litecoin: 29BTC Primecoin: 29BTC Peercoin: 3BTC Feathercoin: 2BTC Mincoin: 2BTC Solidcoin: 3BTC Devcoin: 2BTC Worldcoin: 353BTC <-- only coin with good trading volume Copperlark: 1BTC That is a substantial drop compared to the period when the funds were being raised. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: claycoins on November 17, 2013, 02:44:45 AM Look today at how much the trading volumes are now for the coins: Litecoin: 29BTC Primecoin: 29BTC Peercoin: 3BTC Feathercoin: 2BTC Mincoin: 2BTC Solidcoin: 3BTC Devcoin: 2BTC Worldcoin: 353BTC <-- only coin with good trading volume Copperlark: 1BTC That is a substantial drop compared to the period when the funds were being raised. It makes you wonder whether the trading volumes were pumped by the site owner to make the site appear more profitable than it really is? yeah noticed this too. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: jedunnigan on November 17, 2013, 05:05:18 AM This operation has been shady since the start and it appears confirmations of that sentiment just keep rolling in. Tread carefully bitcoiners.
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: glendall on November 17, 2013, 06:55:46 AM The exchange was started to trade mincoin. I mean that is a pretty bad start of things isn't it.
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: drawingthesun on November 17, 2013, 07:04:52 AM Wow Realsolid just made $4,000,000+
If I were him I would now auction off the entire site and be done with it. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Rannasha on November 18, 2013, 11:52:58 AM mcxFEE down to 0.11. People buying at this second IPO have lost 70% of their coins. Even those that bought at the first IPO before the pump are at risk of going negative on their investment.
Successful pump-and-dump is successful. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: crumbs on November 18, 2013, 12:52:54 PM what country are the founders from and/or servers located. I would be careful with gambling. Why not just run an exchange and focus on the uniqueness of micro-payments to the balance-holders and shareholders? That's sounds good enough to me. The domain registrar is Panama. That is a red flag. New BTC outfits are about trust above all else. Who can trust this? When i first started posting here, i thought pointing to the red flags was enough to warn people away from obvious cons/fails. Now i understand the mechanics of attracting "investors" here. http://s16.postimg.org/pj9pu2eg5/free_candy_van1.jpg Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: TheFuneral on November 19, 2013, 02:41:12 AM .... It makes you wonder whether the trading volumes were pumped by the site owner to make the site appear more profitable than it really is? He does this and a great way to watch it happen are mcxfees. He's doing this with the profits hes now made. I don't think it's a BAD place like most of you, but things could be made more clear. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: lophie on November 19, 2013, 03:04:46 AM I am trying to understand why are people freaking out. Due to the insane rise in BTC value some big investors are cashing out, others are tying to manipulate the price by setting virtual walls on both the sell and buy side.
The divs are lower but they are NOT bad (depends on your entry point, I pity you if you entered 0.8+ :( ). How about you think positively guys? So now basically real solid made even more than what he needed for the IPO and we have about half the amount of shares to share the future profit with :). Yes it nose dive is scary but it is not (not expected) and it is not due to the fail of MCXNow. The engine is awesome the growth swings but generally very good. Competitors are losing market share to MCXNow and more features are coming. I am not saying I am not also scared shitless of losing all that current worth but I am relatively confident it is going to be just fine. at least for 0.4BTC, in the next couple of months. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: TheFuneral on November 19, 2013, 05:50:35 AM ... The engine is awesome the growth swings but generally very good. Competitors are losing market share to MCXNow and more features are coming. ... Show me where competitors are losing. The competitor in the market losing now is mcxnow. What features? He doesn't need features he needs money coming in. It's got higher fees than other exchanges and a decrease rate of money on the exchange. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: drawingthesun on November 26, 2013, 06:16:45 AM bidji29, hey you little shit where are you?
What did I say? Wow Realsolid just made $4,000,000+ If I were him I would now auction off the entire site and be done with it. And 9 days later... https://mcxnow.com/ Quote mcxNOW is shutting down for a period of time Damn you bunch of stupid stupid idiots. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: drawingthesun on November 26, 2013, 06:18:16 AM https://mcxnow.com/
Quote I am getting health issues, etc. After making $4,000,000... I told all of you what would happen! Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: moderate on November 26, 2013, 07:47:16 AM The guy can't stop calling himself awesome, even while announcing that this was just a quick play to collect personal funds. ROFL
If bitcoin doesn't survive at least a couple of comedy shows will come out of this. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: drawingthesun on November 26, 2013, 08:04:55 AM Quote mcxNOW is shutting down for a period of time Withdraw all your coins before December 20th mcxNOW has seen unprecedented growth in recent months and especially in the last few weeks. mcxNOW is a custom coded exchange built 100% by one man in C++ . This means if anything has to be modified then only one person can do it. Unfortunately the growth has been too fast to match with the support requirement as only one person can currently do all support. This is a burden of 200 to 400 emails a day among many requests on IRC and through chat. This makes development of mcxNOW nearly impossible without neglecting valid user requests through support. I am happy that in over 7 months mcxNOW has not been hacked or lost any coins and that the exchange has scaled well from 100 users upto a peak of about 3500 users online at once, it shows the design here is pretty good. However I never anticipated some aspects of running an exchange that are quite important (ie. support) so I need to work on this before allowing the site to grow. I advise everyone to withdraw their coins and use other exchanges until mcxNOW returns. I will need at least one month, and perhaps as many as 3 before I can make the site live again. If you fail to withdraw coins before December 20th then you'll have to wait until the site is live again before withdrawing, whatever balance you hold will carry over. After December 20th passes a test version of mcxNOW will be put up that you can help test without using real coins, this will include the new gaming platform. All existing mcxFEE holders will have the same mcxFEE balance when the site relaunches. I'm allowing people to trade mcxFEE up until December 20th in case they want to exit them. I apologize for needing to do this, the stress and burden of running a successful exchange in the current way is just untenable for me now. I can barely sleep, I am getting health issues, etc. There truly is no alternative than some downtime. I apologize mainly to mcxFEE holders as they have invested in the exchange and will miss revenue in the downtime. mcxNOW will be back and even better than before, I truly believe we have the best trading platform and cryptocommunity platform here but I need to work on these other facets before it becomes a real problem. I will use all the knowledge I have gathered over the last 7 months to make something bulletproof and easy to maintain. Thank you for your support and hopefully we can see all of you back here relatively soon. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Rannasha on November 26, 2013, 08:35:57 AM Hahaha, what a joke. Collect 11K BTC and just pull the plug on the site for an unknown amount of time. That's just epic.
Quote mcxNOW is a custom coded exchange built 100% by one man in C++ . This means if anything has to be modified then only one person can do it. Does he think he is the only person who has ever used C++ or what? Any semi-decent programmer can work with a code that has been decently developed and documented. His code is either so messy that noone can make heads or tails of it or he's so full of himself that he believes that noone can grasp his work. Probably a bit of both. I always found his programming language fanboyism to be hilarious. It's not the programming language that determines whether software is great or crap, yet he keeps using it as a main selling point for his exchange. Typically a sign of a poor programmer.So what's up with taking a site down completely instead of just developing on a separate machine like every other web-service does? If he's so overwhelmed by support requests, I'm sure the 11K BTC he collected should be sufficient to hire a small army of support-agents. Since most support requests are typically extremely mundane newbie stuff, support-agents don't need to be awesome C++-ninjas or whatever RS believes himself to be. The price of mcxFEE has tanked further to 0.08. Of the original IPO price only 20% is left. RealSolid managed to pull of yet another scam. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: BitHub on November 26, 2013, 09:22:53 AM what a cunty
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: dexX7 on November 26, 2013, 11:42:17 AM This is unbeliavable.
+1 for a manhunt. Edit: https://bitcointalk.org/index.php?action=trust;u=135332 Title: Re: [MCXNOW IPO] : 45,000 Shares/18,000 BTC public offering [LIVE] Post by: drawingthesun on November 26, 2013, 11:53:02 AM Between the scammy failures of the operator's past (https://bitcointalk.org/index.php?topic=48344.0) and the multiple shilly marketing posts (https://bitcointalk.org/index.php?topic=265868.msg3113892#msg3113892) like this one, I'd say get lost. BCX is know for having something personal against RealSolid. Always preaching the end of world and the eternity in hell for people who deal with him. He would find a way to scream SCAM with RS donating a kidney. bidji29, you stupid little shit, do you even have the decency to reply? Real scammed yet again, are you still sucking his cock? Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Rannasha on November 26, 2013, 12:00:28 PM Spent a little time reading the chat of mcxNOW. It's unbelievable how people are supporting RS in there. There was someone who said that it couldn't be easy with so many demanding users and someone else actually asked RS if he needed funds for the upgrades of the site.
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: drawingthesun on November 26, 2013, 12:02:18 PM Spent a little time reading the chat of mcxNOW. It's unbelievable how people are supporting RS in there. There was someone who said that it couldn't be easy with so many demanding users and someone else actually asked RS if he needed funds for the upgrades of the site. They must be shills or the most stupid people in the world. He just made $4million from them and they want to help pay for upgrades? Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: forensick on November 26, 2013, 12:50:20 PM unbelievable, time to hunt scammers and kill em all
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: tum0r on November 26, 2013, 01:06:04 PM Heheh. My gutfeeling was spot on :'( ponzy all the way. Atleast my portfoli got 3x larger. But as, allways. senior advices makes for a safer cryptoworld. Thanks folks. Luuuky me ;D
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: drawingthesun on November 26, 2013, 01:19:06 PM Heheh. My gutfeeling was spot on :'( ponzy all the way. Atleast my portfoli got 3x larger. But as, allways. senior advices makes for a safer cryptoworld. Thanks folks. Luuuky me ;D Nope. If you want to accuse someone of a scam at least get the terms correct. Not every scam is a ponzi. A ponzi is where many people invest in a scheme that offers high interest rates, the catch is that these interest rates are paid out of the money people are investing into the ponzi. A -> $1000 | total = $1000 B -> $5000 | total = $6000 C -> $2000 | total = $8000 Now A, B and C are paid 10% Total = $ 7200 -> A($100), B($500), C($200) This continues until too much interest has to be paid and the scheme collapses. The key point here is the only money coming into the investment is people investing, there is no other input. Now what type of scam is mcxFEE? It's not a ponzi because the returns were from fees being paid on trades, instead the scam involves selling these FEE tokens and shutting down the site. If RealSolid kept the site going for 10 - 20 years, the investors may have got their ROI. Also the IPO was at a much higher rate than the value of the fee trades, and people would have bought in only because they wanted to sell to someone else, but this is not a scam on RealSolids part but rather investors being idiots and unable to do math. The scam mainly involves RealSolid lying about the future potential of the site, he made claims a gambling and gaming platform were going to be created and this gave the tokens their value. Instead RealSolid shut the company down. An analogy is Facebook raising $14,000,000,000 and then closing the site. If that happened Mark and the rest of the board would spend 20 years in jail, rich people get away with a lot of crime, but not high financial crime. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: NUFCrichard on November 26, 2013, 01:19:24 PM Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ]
Over indeed, enjoy your 11,000 BTC raised/scammed Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: tum0r on November 26, 2013, 03:32:47 PM Heheh. My gutfeeling was spot on :'( ponzy all the way. Atleast my portfoli got 3x larger. But as, allways. senior advices makes for a safer cryptoworld. Thanks folks. Luuuky me ;D Nope. If you want to accuse someone of a scam at least get the terms correct. Not every scam is a ponzi. A ponzi is where many people invest in a scheme that offers high interest rates, the catch is that these interest rates are paid out of the money people are investing into the ponzi. A -> $1000 | total = $1000 B -> $5000 | total = $6000 C -> $2000 | total = $8000 Now A, B and C are paid 10% Total = $ 7200 -> A($100), B($500), C($200) This continues until too much interest has to be paid and the scheme collapses. The key point here is the only money coming into the investment is people investing, there is no other input. Now what type of scam is mcxFEE? It's not a ponzi because the returns were from fees being paid on trades, instead the scam involves selling these FEE tokens and shutting down the site. If RealSolid kept the site going for 10 - 20 years, the investors may have got their ROI. Also the IPO was at a much higher rate than the value of the fee trades, and people would have bought in only because they wanted to sell to someone else, but this is not a scam on RealSolids part but rather investors being idiots and unable to do math. The scam mainly involves RealSolid lying about the future potential of the site, he made claims a gambling and gaming platform were going to be created and this gave the tokens their value. Instead RealSolid shut the company down. An analogy is Facebook raising $14,000,000,000 and then closing the site. If that happened Mark and the rest of the board would spend 20 years in jail, rich people get away with a lot of crime, but not high financial crime. Thank you for clearing that. "Smart ass" After x days ,with little to none sleep. A error in my formulating. Is not of any concern. And im a a forigner. Haha Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: drawingthesun on November 26, 2013, 03:58:28 PM Thank you for clearing that. "Smart ass" After x days ,with little to none sleep. A error in my formulating. Is not of any concern. And im a a forigner. Haha Don't worry about it! Too many people in this forum throw around "ponzi" when they should simply stick to "scam". The reason I think it's important to have correct terms is that when we're trying to bring down a scammer, it helps if we know what we are talking about. :) Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Keyser Soze on November 26, 2013, 04:27:27 PM Is it really that surprising that RS is taking the site down? My understanding is similar things happened with prior projects.
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: forensick on January 27, 2014, 08:16:14 AM mcxnow is back
Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: glendall on February 05, 2014, 05:45:10 AM Haven't followed, but mildly interested. How did this IPO go? It looked like a terrible idea to me. So I see MCXNOW is back. Are investors expecting to make back their investments? Genuinely curious.
To me IMHO it seems like an incredible amount of money easily invested in something with such little security. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: larem on February 05, 2014, 06:11:13 AM Haven't followed, but mildly interested. How did this IPO go? It looked like a terrible idea to me. So I see MCXNOW is back. Are investors expecting to make back their investments? Genuinely curious. To me IMHO it seems like an incredible amount of money easily invested in something with such little security. Well, if he follows through with what he said, this can be a great thing. He claims there are going to be weekly updates for at least 6 weeks now, with new coin additions and such. We just have to hope that he doesn't fall back into that "tomorrow" phase where it takes weeks or months to get anything done. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: MPOE-PR on February 05, 2014, 02:15:06 PM Haven't followed, but mildly interested. How did this IPO go? It looked like a terrible idea to me. So I see MCXNOW is back. Are investors expecting to make back their investments? Genuinely curious. To me IMHO it seems like an incredible amount of money easily invested in something with such little security. Well, if he follows through with what he said, this can be a great thing. He claims there are going to be weekly updates for at least 6 weeks now, with new coin additions and such. We just have to hope that he doesn't fall back into that "tomorrow" phase where it takes weeks or months to get anything done. Sometimes I wonder how scammers have the gall to come back after a short absence and act as though anyone would further fund their nonsense. Then I read stuff like these posts. You don't "have to hope". Just stop funding scammy nonsense. No amount of hoping will transmute it into something else. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: Kushedout on February 26, 2014, 11:41:47 PM People who have been around know that this exchange can not be trusted.
However, if you are new to the wonderful world of bitcoin. ----STAY AWAY FROM MCXNOW.------ You have been warned. 1) Realsolids questionable actions. a. Took the exchange down with no warning. c. Microcash (google it) b. Market manipulation e. huge attitude problem. (http://pastebin.com/Wj082Q5h) 2) It has single point of failure. a. If anything would happen to RS, your funds are gone. c. Is anonymous d. if he doesn't like you. Your funds are gone. e. Will not read your support email if it contains the words password or 2fa. 3) If you get locked out. You have to track him down, kiss his ass. To reset your password. a. At one point he wanted to charge for resetting passwords. d. Has access to your passwords in clear text format. (change your password if you have used the same one on other sites. I am sure others can add more to this list. But this message is here to server as a warning to all the new users who are unfamiliar with RealSolids background and his exchange. Again, you have been warned. Title: Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ] Post by: trade-for-pokermoney on August 05, 2014, 12:46:20 AM Seeing the IPO price of MCXnow makes me laugh ;)
This turned out just great! |
