I think today is just the beginning of a 2~4 week dumping period. As suggested in the previous few days, we are hitting the dates where those first quarterly parkings are maturing and people will be attempting to claw back some losses by selling the interest or perhaps exiting all together.
This is clearly creating a surge in supply. Look at the daily volumes on both Exmo and Livecoin.
Whether this has induced some panic selling or not is not immediately clear... we will be able to tell that more clearly after a few days to a week.: "Don't fight the tape" as anyone familiar with market trends will know.
Regardless of panic selling, there will only ever be one outcome when supply is suddenly increased... which is, by any application of standard analysis, a crash.
I reiterate once more, as a concerned investor, that the Minex team absolutely must change their strategy. Parking Interest proved to be a very good stabiliser during a bear market... but the rate change in May has proved to be too drastic.
If we want to use the same parking mechanism to regain the value of MNX, the following should happen;
1) rates should be returned to around half of what they where pre-May
2) quarterly and longer rates should be immediately decommissioned to discourage large periodical dumping
3) rates should then be gradually decreased, starting as soon as the price recovers to around $10. This must be gradual to avoid a second run of panic sells like the late April/early May period
Such a strategy will not come cheap. But it is clear now that the pace of change was too rapid for a market with such low liquidity to manage.
If we don't want to use the parking mechanism for such an adjustment, there must be some mechanism to counteract a cycle of holding and dumping. This is currently the biggest weakness of the project.
While the price stays above $2 USD, there is still a chance to retain enough interest in MNX for a recovery. Very soon after it dips below that though... there will be very little that can be done. The market cap will be too low to make the coin of interest to casual investors, liquidity will fall to almost zero and the MNX market will collapse. I would put that timeframe at the third quarter after falling to $2, or if we fall too rapidly perhaps the second quarter after hitting $1.
The current strategy is producing a disparity in the market, which can not be absorbed with such low liquidity across just a few exchanges. More exchanges would help... but it needs to be 3x to 4x the current number. There is not enough time to implement this, so we should not quote this or hold on to this as a recovery method.
Thank you for this analysis and your feedback, bcfkm. We will forward it to the team. |
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Уважаемое сообщество, в связи с резонансом, который вызвало появление моего имени в проекте Republia, хочу прояснить ряд моментов.
Я принимаю участие в проекте Republia исключительно в качестве Советника по юридическим вопросам и более никак. Я не являюсь промоутером проекта, поэтому не счёл необходимым информировать сообщество, так как это могло быть расценено как реклама стороннего проекта. А в этом и заключается, на мой взгляд, конфликт интересов.
Поскольку я знаком с политическим истеблишментом Украины, почему меня и привлекали в Совет Нацбанка на дискуссии по закону о криптовалютах. Однако у меня нет времени заниматься этим вопросом, так как я всецело занят проектом MinexCoin. В то же время мой сын изъявил желание заниматься политической деятельностью, и я ввел его в политический истеблишмент страны и познакомил со своим друзьями и партнерами из бизнеса, которые в 2016 профинансировали пресид проекта MinexCoin для того чтобы он представил им свой проект, и, при наличии интереса, профинансировали (пресид) нового проекта.
Я не являюсь ни со-учредителем, ни инвестором Republia, я только дал Данилу возможность представить свой проект политическому истеблишменту Украины. На этом моя работа в проекте заканчивается.
Проектом (Republia) я занимаюсь исключительно в свое свободное от своего проекта время, поскольку я постоянно общаюсь с сыном. Так как наши интересы сходятся, то общение часто затрагивает рабочие моменты. Не думаю, что 3-4 часа в неделю уделенных проекту Republia могут повлиять на проект MinexCoin.
Хочу также отметить, что в процессе работы над законопроектом в Украине и контактами с политическим истеблишментом я понял, что интересы государства не должны расходиться с интересами криптосообщества и основным камнем преткновения является идентификация пользователей и возможность взымания налогов. Мой интерес к проекту Republia вызван именно тем, что он предлагает решение этой проблемы посредством внесения идентификационных данных пользователей в блокчейн. С проектом MinexCoin у них общим является только банк (с инструментом для опосредованного сглаживания волатильности), однако стоит заметить, что эту идею скопировал не один ряд проектов.
И ещё. Проект Майнекскоин является делом моей жизни, поэтому вам не о чем беспокоиться. Работа над екосистемой Майнекскоин ведётся в обычном режиме.
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Dear Community taking into account your response to seeing my name in Republia project I would like to clear up a couple of aspects here.
I only take part in Republia project as a Legal Advisor. I am not a promoter of the project, so I did not think of informing the community to avoid advertising of another project. This is where conflict of interest lies in my opinion.
As most of you know, I am familiar to some people of the Ukrainian political establishment, and this is why I was invited to the the Council of the National Bank of Ukraine to discuss cryptocurrency regulations. However I don“t have much time to work on it, because I am fully dedicated to MinexCoin. At the same time my son wished to work in politics, so I introduced him to the political establishment of the country and my friends and business partners who financed pre-seed of MinexCoin project back in 2016, so he could present them his own project and get pre-seed financing, if they find it interesting.
I am not a co-founder of Republia, neither I am an investor to it. I only gave Danil opportunity to introduce his project to the political establishment of Ukraine. This is all that I have done for that project at this moment.
I only work for Republia in my free time, because I communicate with my son a lot. Since our interests meet, we often talk about work matters. I really don“t think those 3 to 4 hours a week can affect MinexCoin project.
I would also like to note that while working on the draft in Ukraine and contacting political establishment I realized that state and crypto community interests should not stay apart and the major stumbling-block here is users’ identification and ability to withhold the taxes. My interest to Republia is due to the fact that it offers solution of this problem via putting identification data of the users to blockchain. The only element they have in common with MinexCoin is their bank for smoothing volatility. However I should note that this idea has been copied by several projects.
And the last but not the least. MinexCoin is the work of my life so you have nothing to worry about. We continue our work on MinexCoin ecosystem in normal mode.
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Увидел в сети проект Republia https://republia.io/brief На их сайте сказано, что один из основателей проекта - Владислав Гирич - который, в числе прочего, " реализовал четыре блокчейн-проекта на территории Европы и СНГ, среди которых MinexCoin, MinexBank, а также ULT." Но на сайте MinexCoin этого человека нет в команде, что как-то странно - человек якобы реализовал MinexCoin и MinexBank, а на сайте его забыли указать  Это скам или какое-то недоразумение? Подождите разъяснения Бориса, пожалуйста. |
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Здравствуйте,может кто нибудь уже себе заказал и получил карту минекспэй?Хочу себе заказать эту карты,и вот хотел бы узнать как она в использовании и стоит ли вообще ее себе заказывать! Буду очень признателен если кто поможет!
Заказать заказали 13940 карт, оплатили 901 (на 10 августа). Первые карты будут отправлены в сентябре. Статистика из https://medium.com/minecoin-blog/minexpay-report-week-6-the-trend-goes-on-f790348f9be |
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So when you announce the big start in your advisory board?  I wanted to sell some of my parked coins, but I will wait for this moment  . I suppose Peter will share some information when he is back from the USA. You can also follow his Twitter account https://twitter.com/Peter_minexcoin |
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when will ICO begin & End ?)
ICO has ended in June 2017. |
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Приветствую, это замечательно, что новости выходят, такие масштабные другие проекты позавидуют подобному, хотелось бы опят поговорить про карты, скажите какие приблизительные сроки отправки карт, после прохождения процедуру верификации.Заранее спасибо).
Отправка первых карт предполагается в сентябре. |
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This is good that Minexcoin will be present at the Blockshow America but that was not my question.
I asked about promotion and advertising. Like I told you I don't see Minexcoin anywhere and I browse crypto related web pages every day. We need advertising on CMC, Cointelegraph, BTCNews, etc.
Are you guys planning such a promotion campaign in near future?
Think so, but the exact path will be known later. |
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Thank you for taking the time out to write. I hope to see Minexcoin go from strength to strength.
It is always good to see the team writing directly to investors and potential clients regardless of the project.
Thank you for supporting and being with us. |
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When you expect to finish new WP? you have any date? What happen with eco system? can we expect some fork or classic rebrending? You plan new name? can community to suggest? my vote for Sooncoin Soonbank,SoonPay,SoonDEX sound good  Hello, bozicso We appreciate your energy and humour. Only people who really like a project put as much passion into their comments as you are. For now our Vice President shared those infos, they seem to be very positive in nature, show a good measure of progress and strong future developments. As always, you will see the updates as soon as we are ready to publish them. |
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Уважаемое сообщество, представляем некоторые новости от нашего вице-президента Питера
1) Мы в процессе разработки нового сайта, который отображал бы наши амбиции.
2) Мы в процессе ре-брэндинга (агентство по брэндам будет делать полный ре-брэндинг, включая все названия и торговые марки. Затем мы выберем лучший вариант).
3) Пишется качественная белая бумага.
4) У нас новый VIP советник, которого я должен был представить вчера, но не хватило времени. Еще двое выразили заинтересованность и желание присоединиться к новому консультативному совету.
5) Мероприятие в США это не просто блокчейн-конференция в Лас-Вегасе. Мы встретимся с потенциальными партнерами из США и инвесторами, заинтересовавшимися нашим проектом в Сан-Франциско. Я там буду, начиная с завтрашнего дня. Со мной будет Джефф Бертон, со-учредитель Electronic Arts.
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Dear Community,
Here is a little update from our VP Peter:
1) We are in the process of producing a new website, that is worthy of our ambitions.
2) We are in the process of rebranding (for now, the branding agency will look into a full rebrand, of all our names and trademarks. We will then choose the best option).
3) Whitepaper in the process of creation (it is going to be a high quality one) .
4) We have a new VIP advisor, that I was supposed to announce yesterday, but lacked time. 2 others have expressed interest to join the newly created advisory board.
5) The US venture is not just about blockshow in Las Vegas. We will meet potential US partners and investors that have shown interest in minexcoin, in San Francisco. I will be there starting from tomorrow, accompanied by Jeff Burton, cofounder of electronic arts.
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This is somewhat true... Using the standard and gold cards as a reference... Is the 0.5% difference for charging and 1% difference in spending more than the % lost in purchasing MNX? An educated hedge would look at the falling price of MNX and deem it safer to transfer in BTC. In the last 3 months, it would hold far more value than MNX.
Again, I see no strong pressure to buy MNX
You compare replenishment % for fiat and spending % for other cryptos, while spending % for fiat is same as for spending % for MNX. E.g. for Gold card to replenish card with fiat it is 0.5% for spending it via POS terminals it is 0%, ATM withdrawal - 1% |
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I'm pleased that some people have responded to my posts with some suggestions and arguments. I'd really like to debate this some more. For the record, I have a fairly decent amount of MNX. I am pleased with the reporting from the Minex Team and very interested in the project. It's absolutely not my intention to troll or attempt to disrupt the community. I hope my posts come across as constructively critical. The whole ecosystem being built up by the team may fail for the worst reason... because MNX can't hold it's market value. I think we are still waiting to see the impact of the VISA cards. There were some keen early adopters, myself included. Again for the record, I have passed my KYC checks and eagerly await my card delivery. But surprisingly to me... enthusiasm for the cards is much lower than I was expecting. I base this on the published number of attempted KYC submissions (475). I hope that the thousands of other unpaid registrations are waiting to see the first few successful transactions reported and jump on board. Analysing things more has led me to the conclusion that the strategies used to kick start this project may well cause its demise if not addressed within the next couple of quarters. (See my previous posts for my reasoning) https://bitcointalk.org/index.php?topic=1847292.msg43842794#msg43842794https://bitcointalk.org/index.php?topic=1847292.msg43860515#msg43860515https://bitcointalk.org/index.php?topic=1847292.msg43861585#msg43861585Can someone from the Minex team offer any feedback on this? Have you any strategies planned to encourage more buy-volume in the market? What we need is more volume, other than the periodical dumping of parking interest. I expect the coming weeks might be particularly bad for MNX price as the first quarterly parkings are due to mature. Dear bcfkm, thank you for your analysis and opinion. Please be assured that the team does have strategies, which are not to be disclosed. In the meantime we do read all community opinions and take into cosiderations any ideas or thoughts we find. |
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Raindrop is multi-factor authentication. It allows for platforms to secure access to their systems... what is BIG benefit from this? btw tell Peter to came out of CZ ass, he will not got listing in that way https://athcoinindex.com/price/page/all#203 MNX -92.31% to ATH price. In just 6 months, congratulations! Additional security. Please watch your language. You can leave your thoughts to Peter directly in Telegram @VpresidentMinexcoin or Twitter https://twitter.com/Peter_minexcoin |
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that's great to take a first step into the USA !! Is Asia also planned in November, or just the US?
Now is only USA. But may be Asia will be in future. |
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Рады сообщить вам что теперь KYC верификацию можно пройти с Telegram Passport!
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We are excited to announce that we released KYC Verification via Telegram Passport!
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