Thanks for those links. after searching all over the place, just yesterday only I come to know about this competition details. Want to take part in this competition but KYC will take some time. in my opinion, Kyc will not hamper your activities to take part in giving away from the bcnex project, you can ask for their support so that your verification is done, and this system is very important for each of these exchanges to keep your account that you own the account. it will also strengthen the security of your account, so be patient, I'm sure it will be accepted Thanks, will check with team. Not sure how much time normally team takes for verification. BTW, anyone from this board did KYC for BCNEX? |
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[Did they show any proof of mining activity? Even their mining address is enough with sign message as a proof that they are really mining. But i guess they need to collect money first from investors so they can launch their own mining facility  [/quote] ICO just started, they first need to reach softcap, after this only team can start launch of mining facility. It's too early to expect mining facility ready. |
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Thanks for those links. after searching all over the place, just yesterday only I come to know about this competition details. Want to take part in this competition but KYC will take some time. |
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I really wish to participate in the trading competition but the KYC procedure make's its impossible for me No offense to your company but its too early to implement a KYC specially your just starting out and this is just a test trading account. Maybe you could bend the rules for this competition and accept those users that wanting to join but cannot comply with your KYC requirements. ICO will start in less than 12 days, and I think its good decision to start KYC even before ICO. This will give enough time for verification. |
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If you end up in Siberia, do you know already how the electricity will be generated? In Iceland geothermal would have been a perfect option, especially when you consider that this is a renewable energy source. But what's about in Siberia?
Siberia is the new option I am hearing here. Never heard it. Looking forward for the teams view on such renewable energy sources. We are discussing lot of different locations here. Will there be multiple locations for mining facility? Or it will be one only, but as of now it's not finalized? |
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As per the Whitepaper the team were impressed with the financial models based around the location of Iceland... If we can improve those models, which isn't just about maximsing profits but reducing risk also, then we will consider relocation. Off all the Sites we've been to and assessed all mitigating risks so far Siberia has the best outlook.
Our vision is to become a major player in the cryptocurrency arena and for MinedBlock to own a significant part of the infrastructure required to process transactions and mint new crypto assets. This will enable our investors to reap a significant return on investment while we employ an aggressive growth strategy to position ourselves as the ‘Amazon’ of the crypto mining industry
I am hearing ICELAND for the first time for crypto mining. I will look for more details and friendliness of ICELAND for crypto. Don't know what Iceland think about crypto. I mean whether it's legally approved to trade or provide any kind of crypto related services in Iceland? |
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Having more partners to support is the best way to get the attention of the community in the world. I think BCNEX is in the strongest stage of development because they have a lot of marketing strategies that interest people and will attract many traders to come to this exchange in the future so stay tuned for news latest in this project
Which marketing strategies you mean? There are a thounsand exchanges and it too hard get a succes nowdays. For example exchange from their country (Vietnam) - Vinex (which is a part of Midas ecosystem) was launched a half of year ago but they cant ge a succes. There are almost no volume... Crypto market is still new, and exchange business is still very attractive. Most important part for any exchange is security, and number of order/transaction support. |
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I think I UK electricity cost is high compared to some counties. If I know correctly, Netherlands provide electricity at less rate. Why can't minedblock start mining facility in such places?
Thats right. This could be the reason they will think about other locations. Team should have some location in mind. If I remember it right, they were talking about Dubai at one particular point in time. Dubai? Not sure if electricity is cheaper in Dubai. But I think due to almost zero taxes, Dubai might be good location for mining. I agree, Dubai have almost nil tax. And I think Dubai might be generating electricity from solar power, if not then they should think about it. |
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If I trade at any other platform, how BCNEX will be tracking those trades as part of this competition?
This is really confusing. Why the team is conducting trading competition in some other platform when they themselves want to have exchange? Lot of confusion about this trading competition. BCNEX exchange is not ready so i am also guessing that we have to trade at other exchange. Anyone participated in this competition? I think alot things are missed here. Could you please let me know anyone about what exactly this competition is going on and how do we take a part in this? At first page you will find link which will take you to the competition page. I see top leaderboards have traded with millions of USDT. So it seems its not actual trading, but mock trading? |
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This looks cool. But where we need to trade to participate in this competition? I mean I can trade in any exchange and will be eligible for the reward?
I am also looking for detailed information regarding this competition. I guess its still open for participation. Yes, it's open for participants, you only need to complete your kyc and you're eligible to participate in the trading competition. Also note that the competition will be over in less than 3 days, so you need to start as soon as possible. Yeah, current competition will be over soon, but new competition will start after this one. Only thing is, trading pairs will be different. If I trade at any other platform, how BCNEX will be tracking those trades as part of this competition? |
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Firstly what's the cost of the electricity they want to use??
How would they have already paid completely the cost of electricity they need since electricity cost will be a recurring expenses?
They still dont know the exact location as far as I know for their mining facility. If this is true, its impossible for them to give estimation of electricity charges. Team is based on London (UK) right? Is it not their first choice of location for mining? I think I UK electricity cost is high compared to some counties. If I know correctly, Netherlands provide electricity at less rate. Why can't minedblock start mining facility in such places? |
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At first page it's mentioned that, 75% revenue will be shared with tokens holders. And just 10% kept for operation cost. This 10% will be sufficient to support operation cost (including electricity)?
I complete doubt this. From my experience in the blockchain I came to realize that mining is a very expensive process. I'll need a breakdown of expenses to really ccept that 10% would be enough or probably it's just a face value thing since it hasn't been tested or implemented The 75% they share with token holders is part of the profit they make from mining. So I guess the electricity cost is already paid and not part of the operational costs. Got it. Thanks guys for clarification. I was confused with the word revenue. BTW, are they going to purchase electricity at any special discount rate? Will it be a great energy? |
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At first page I can see BCNEX trading competition started from 12th Apr. What is this competition? Who and how we can participate in this competition?
Right. Is the competition already started? Where can I find more information on the participation? The competition has started since the 12th of April and there would be four different batches where participants would compete for the price. You can get more information about the trading competition using this link - https://www.bcnex.net/trading-competition.html?lang=idUSDT/BTC Trading competition ends in three days. But there are more competitions coming for XRP & ETH. There’s a leaderboard that shows the top possible winners. I think it’s a brilliant promotion from BCNEX team, to get the platform started before full launch. Thanks for sharing the link. Will check the details. Hope there are some cool prices available  . Anyone participated in this competition till now? This looks cool. But where we need to trade to participate in this competition? I mean I can trade in any exchange and will be eligible for the reward? |
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At first page it's mentioned that, 75% revenue will be shared with tokens holders. And just 10% kept for operation cost. This 10% will be sufficient to support operation cost (including electricity)?
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Check out Bcnex one pager.. What do you think of it?  So BCNEX will support 2 millions transaction/order per second? This is very high number of order processing. I don't know what's the highest number of order supported by current exchanges? |
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Even if they don't consider, that doesn't mean it would result in scam or something like that..
In my experience , it doesn't happen due to no or low kyc, but due to mis-management and dishonest teams, which is not the case here..
Its too early to say if the project will turns out to be a legit one or not, It will take time build trust in the crypto community. As soon as the exchange is live and starts working that's the only time we can speculate if the project is good or not. When it comes to investment, we need to keep on mind that there will be always some kind of risk involved. If someone is thinking of investing in crypto then I will suggest to Check the documents carefully. Good project will spend more time in creating proper documentation like white paper. Check experience of project team members. And keep eye on project development. Aside blockchain industry and the crypto ecosystem I'm invested in a lot of traditional business and goes without saying that one should strive at all times to make sure their business or involvement in a business is carried out after due diligence. You're responsible for your own risk and not the business if you fail at checking information properly. I thought we gone past this phase of careless investment Rightly said. it's our hard earned money and we should invest it with proper investigation / going through all the documents. Exchange business is good, but required secure infrastructure. We have seen many hacking issues in recent past. What type of security BCNEX is going to provide? |
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Since you don't have a bounty campaign, what are you currently doing to advertise your tokensale? Maybe you could get in touch with some influential crypto Youtubers to make a review about your project.
We are in the process of finalising the details to add a 'Pay as you go' side to our mining service which will utilise a utility token. With that will come a bounty and airdrop campaign ahead of an IEO. Watch this space... full details will be released soon Interesting development. Seems like going in the direction of utility tokens. Why not? This will become extremely attractive in the very near future. As long as the utility token serves a reasonable use-case. Don't forget that the whole ICO craze ended up producing a lot of useless utility tokens. I am fine with them introducing an utility token as long as it makes sense. I am just not seeing the real need for it but let's see with what they come up with. What is the difference between utility tokens and other tokens? Does one have advantage over the other? Of both have equal value/right? |
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This is the first time I visited this project page. I see lot of exchange coming, what are the different options or special things BCNEX have ?
Looks like project team is not much active here. Anyone knows best platform where I can ask questions to project team ? |
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This is the first time I visited this project page. I see lot of exchange coming, what are the different options or special things BCNEX have ?
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This is what I was looking for. I couldn't find this link on your website. Maybe I overlooked it but if it isn't somewhere there, I'd put it on there. That's a good advertisement. Me too. Thanks for sharing this link here. This confirmation gave me a lot of confidence. If I understood correctly, everyone needs to do KYC as per the SEC rules? |
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