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It is interesting that most of people who fervently defend Minex has avatars of Republia not Minex one. Didnt see not a single one with Minex avatar. Why members of another pre-ICO,who claimed is not related to Minex doing that?
Answer on that question is simple. Nobody will do that if there are no quite of interest in it. These two ICOs are much more intertwined than it looks at a first glance. Like Siamese twins.
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PUBLIC SERVICE ANNOUNCEMENT-
The MINEX scammers led by Boris Shulyaev have already moved on to the lastest SCAM ICO called REPUBLIA.
Omg, are you sure of this?? Any proof that they has wrapped up the offices and locations to move to next project?  He don't have anything. he simply repeating same bullshit every day what if I tell you that I have a big proof that Daniel Shulyaev CO-FOUNDER of Republia and Boris's son who worked on the MinexCoin team as well as Vladislav Gyrych CO-FOUNDER of Repuublia to... that they took the almost finished updated MinexCoin WhitePaper on which we have been waiting for since the half of this year it was obvious even for Boris that the project was slowly collapses because of their inability to complete anything they have planned , due to the insolvency of the system that slowly brings the minex bank reserves to zero and becouse of thatBoris decided to make a backup plan and gave his son a updated MineexCoin whitepaper to make a new coin ... a new ICO....(to try the similar way to get the money from naive people) the employees in the minex team were confused when they heard about this and some of them were disappointed and left the project I dont know where you find this data,but after some research I found that it is just tip of iceberg. I closely examed financial model and data of Republia ,found on its site: https://docs.google.com/spreadsheets/d/1fqPKNz3uokD4sCHAZfRC3Gt2MlfqXEVxjoLVx5GWMEw/edit#gid=157711303  As can be see in revenue page of Republia documents,they will have no revenue for 2018 and will have about $600.000 for 2019. Also on page Salary & Expenses,it can be clearly see,that Republia will have $1.446 millions of expenses for 2018 and about $3.228 millions for 2019 Cumulative it is about $600K of revenue for period 2018-2019 and $4.674 millions of expenses. Obviously they need someone else to cover difference of $4.074 millions.On Salary & Expenses you can see that it will rise number of employees in second half of this year from 24 to 41 and in 2019 to 71, which is 3x more than in first half of 2018. Strange coincidence is that in the same period when Republia will significantly power up its operations,Minex goes down hard.So, it seems that White Paper is not only thing which went from Minex to Republia,but also a lot of money which Repulia need to finance its operations in this and next year. It looks that Minex is just suitable financial vehicle for Republia needs. |
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PUBLIC SERVICE ANNOUNCEMENT-
The MINEX scammers led by Boris Shulyaev have already moved on to the lastest SCAM ICO called REPUBLIA.
The inner circle scammer alliance of Racquemis1 and Temhuk will join them to carry on with spreading the propaganda to entice newbies and gullible investors. Of course I saw this very shocked, even though there was a lot of evidence showing the truth and it was very regrettable if it really happened, that they built the Minex project for quite a long time and were successful at that time, and there was someone who did a stupid thing it should not be done by it, just want to take advantage of new users that they can lie to and use their ignorance just to make profits. I wanted a crypto card so bad that I ordered myself an MNX card and by all things that are unfolding it seems I will never receive one. Back to MCO I guess lol Whole Minex business project was made on entirely wrong foundations.With parking rate so high,it looks much more like HYIP scheme than classic ICO. It is known that every HYIP scheme turn to scam sooner or later,depend on greed of founders and the height of interest rate. Will anyone believe to bank which promoting 70% or more interest per year? High interest rate attracts no serious investors,but rather gamblers or greedy gullable people. That of course make questions of founders real intentions.CEO of Minex is experienced economist, so he knows for sure that giving interest so high cant end good for investors. So why he did it anyway? Very suspicious is that Minex made operational only part of its program made for collecting money - Instabuy and Minexbank.After it ,nothing. Even more suspicious is that another project from same CEO,Republia has in its core same unsustainable parking system which proved so wrong in Minex. Advertising payment cards for months with specific fees and limits without contract with issuer or bank is a scamming scheme,no doubt in it.False contract with CSOB bank same. So lets summarize : - experienced economist made ICO with extremely high and unsustainable interest rates - from entire project ,only parts that was made for collecting money work - advertising for months payment cards, despite Minex has never had any contract with bank or card issuer - made false announcement about having contract with CSOB bank - took proved fraudster from Novarise Secrecy to obtain them VISA/Mastercard permissions on an easy way - make one after another false announcement about soon to be "glorious news" I let to people to make their own conclusion from it. |
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when card?
A bad news you will never receive it as it was decided not to send cards to those who have being trolling MNX. You did it. You have passed KYS. Your passport data are known. Your refferal ID = 303. So you have been spotted. As it was said by Boris in Telegram channel the cards have been issued and now they are testing real crypto-fiat transactions. After testing complete they will send them to qualified users. Unfortunately you are not in the list. Testing real crypto-fiat transactions? Serious? With well qualified people they will need at least 8-10 months to get all needed permissions from Visa or Mastercard. Plus, there are no way that Visa or Mastercard will grant them worldwide license.They tried shortcut with scammy Novaris Secerecy and we all know how it finished.If they try something similar again,that will be more than stupid. It is more than obvious that parking option is unsustainable and card option is only viable option to decrease pressure on coin or Minexbank will bankrupt in max 6 months. Whole project is off road and card program is last desperate attempt to save it,but with unprofessional business conducting seen till now,you should be really great optimist to believe that they will be able to get fully working payment cards in time to save project. |
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Another problem is that Minex already sold 3 of 5 millions coins or about 60%. They need money to pay workforce and expenses and with MNX price so low ,they will need much more coins to sell.
Minexsystems doesn't rely of their mnx to fund their work. The company has its own funds outside of crypto. They have investors outside of the Ico that invested fiat in the company and also Boris invested alot of his own funds. Development will continue regardless of the price of mnx. That's the good thing about it. They won't go bankrupt if the coin decides to nosedive. what about 70-80k m'n wasxselled from premine trough instabuy All BTC held as a buffer to prevent further sell pressure when cards are released. Cards wusage will basically be the instasell Maybe Minex has outside funds,but it proved insufficient.They sold 3 millions coins for a year. 1 million was spent on paying parking interest,but 2 millions for expenses. Maybe at first they relied on outside funds,but not any more. Development cant continues regardless of MNX price,because when Minex sold all their premined coins it will not be able to cover expenses without heavy financial injection from outside. As I said before ,they cant rely on cards to reduce pressure on coin,because in best case scenario with fully qualified people to work on it, they will need at least 8-10 months to get card and then only for EEA zone ,not worldwide.Providing VISA or Mastercard permission proved very slow and painful process to much bigger companies than Minex. |
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If Minex does not cancel parking option,Minex bank will bankrupt for at most 4.5 months.
Good point but they are intended to reduce the parking rate after card launch. It was announced in telegram group and therefore there is nothing to worry about. The 172.000 mnx that thunder jet was referring to was before the last change. And has since been reduced considerably Reserve will last alot longer then the 4.5 months he's suggesting. It is 127500 per month not 172.000.It is not mine number ,but from Minex official report. Yes,parking annual rate decreased to 70% ,but volume of parked coins increased. If we took relative conservative CMC estimation, there are now about 1.6 millions of MNX at parking(total - circulating supply).At month rate of 5.83% ,Minexbank have to pay about 93280 coins per month. Minexbank has 575000 coins ,so it will last max. 6 months. Also we can take another ,possibly even better estimation.Till parking rate decrease in May, Minexbank paid 400000 coins as parking interest and had 1.1 millions MNX in bank.Now Minexbank has 575000 coins.It paid about 525000 coins for 6 months or 87500 per month.With this rate, Minexbank will last max. 6.5 months. Both estimations have very close results,which gives them much more credibility. In reality Minexbank will last less,because of constant increase of parking coins.How less ,hard to estimate due to difficulty to make precise calculation of parking coins increasing rate. Yes your right that the minexbank rates are still not sustainable but it's not like the team doesn't know that They created the minimum locked amount on the card to reduce the amount of parked coins. Also people will be storing coins later on the web wallet which you can't park. As mnx gets more uses less coins will be parked. Rate reductions will help aswell. Time will tell if that works to make minexbank sustainable. but if not they can always change the coins consensus rules to increase the block reward and have a higher fee for minexbank (ofcourse without decreasing reward miner as that will be something wouldn't accept. And if that doesn't park they could always add a new consensus that will generate for example 10.000 coins every x amounts of blocks the minexbank. But that should be a last resort and rather be avoided as this is basically printing money and devaluing the coin. There is still enough time minexsystems to make the bank sustainable. Yes,Minex started payment cards program to decrease pressure on Minexbank. Now,after Novarise Secrecy failure,they are on the begining of card program.As it can be see from other companies,after Wave Crest failure,it is very difficult and slow process which takes about 8-10 months to be realized and that means they cant count for a long time on cards to decrease pressure on coin. Also ,no way that Visa or Mastercard will give them worldwide license.At best ,Chain2Pay which is registered in EEA zone can get license only for EEA zone. Another problem is that Minex already sold 3 of 5 millions coins or about 60%. They need money to pay workforce and expenses and with MNX price so low ,they will need much more coins to sell. Decreasing parking rate can help Minexbank to live longer,but smaller incentive will make more investors decide to sell coins,take money and go.At the same time ,because of low price,Minex will need to sell much more coins to cover expenses.It is like perfect storm,whatever they do,price of coin will go further down with bad consequences for company.Except card program which is a very long shot and will take months,there are no other viable option to tie a lot of coins without paying interest for them. Iam very sceptical about it.My opinion is that is not a question will Minex fail,but just how fast.Only miracle can help them now or to find angel investors willing to save them.As you said time will tell. |
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If Minex does not cancel parking option,Minex bank will bankrupt for at most 4.5 months.
Good point but they are intended to reduce the parking rate after card launch. It was announced in telegram group and therefore there is nothing to worry about. The 172.000 mnx that thunder jet was referring to was before the last change. And has since been reduced considerably Reserve will last alot longer then the 4.5 months he's suggesting. It is 127500 per month not 172.000.It is not mine number ,but from Minex official report. Yes,parking annual rate decreased to 70% ,but volume of parked coins increased. If we took relative conservative CMC estimation, there are now about 1.6 millions of MNX at parking(total - circulating supply).At month rate of 5.83% ,Minexbank have to pay about 93280 coins per month. Minexbank has 575000 coins ,so it will last max. 6 months. Also we can take another ,possibly even better estimation.Till parking rate decrease in May, Minexbank paid 400000 coins as parking interest and had 1.1 millions MNX in bank.Now Minexbank has 575000 coins.It paid about 525000 coins for 6 months or 87500 per month.With this rate, Minexbank will last max. 6.5 months. Both estimations have very close results,which gives them much more credibility. In reality Minexbank will last less,because of constant increase of parking coins.How less ,hard to estimate due to difficulty to make precise calculation of parking coins increasing rate. |
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Thinking about that is just a dreams, because nobody have any info about that. and that $745k from ICO is just a dust for such big project like Minexcoin. Minexcoin already have 1,5 years of development, but dev's coins are not sold.
more then 18000 mnx of devs coins are sold from their wallet
and 70000-80000mnx from premine through instabuy on 0.00075000-0.00100000 price
 without any announcement that they were obliged to publish you're lying againThey needed the money to Fund the next ICO SCAM coin called Republia Though payment card problem is in focus,one even more bigger problem about parking sustainability needs more close attention,because it is threatining to sink whole project. As I posted in one mine previous post, there are about 2 millions of MNX coins in Minex possesion. 3 millions were spent already. Here are Minex wallet addresses: XWkxDTkp9uzvtMCE7NRVphzbwMigLrzyzK - ICO fund - 399408 MNX coins now (was 2.7 milllions)
XMajS6qVruhRMCU9xaA4FGpUothZTwwWVf - Developper fund - 981817 MNX coins now (was 1 million)
XVFYK9MgdMDhYwwnTsEkqBFvUytC5QtWE4 - Minexbank - 575062 MNX coins now (was 1.5 millions)https://bchain.info/MNX/addr/XWkxDTkp9uzvtMCE7NRVphzbwMigLrzyzKhttps://bchain.info/MNX/addr/XMajS6qVruhRMCU9xaA4FGpUothZTwwWVfhttps://bchain.info/MNX/addr/XVFYK9MgdMDhYwwnTsEkqBFvUytC5QtWE4So,we can see that for a year Minex bank spent 925000 coins( 61.66% ) to sustain high annual parking rate of 70%. Minex officials in their post claimed that Minex bank parking payment reached 127 500 MNX coins per month.https://medium.com/minecoin-blog/mnx-market-behaviour-update-6a1e32014233 Now there are 575062 coins at Minex bank left. As the payment rate for parking of about 127500 coins per month it is clear that Minex bank has reserves for just 4.5 months of paying parking. If Minex does not cancel parking option,Minex bank will bankrupt for at most 4.5 months.Needless to say that it will mean complete overnight collapse of whole project.Of course,parking cancellation will be quite risky too and will put price of MNX coin in downward spiral,but there are no more good options. |
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Well, physically the cards already exist or have not yet been printed? if there can be a couple of photos of what they look like in the real world, not from photoshop.
No,they are not existing. Actually, for months ,Minex is advertising payment cards with specific features, known fees&limits ,despite they have never had any contract with bank or card issuer. Well for months I've seen you and the other fudders advertising MNX as scam without hard evidence either. There is absolutely no difference. Your doing the exact same thing. Hypocrite. I dont advertising Minex as a scam. They do it to themselves with their own actions. Cant blame people who are talking about obvious misinformations,failures and lies. Project is in deep trouble and digging it itself deeper and deeper every day.That is fault of people who lead Minex. |
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Well, physically the cards already exist or have not yet been printed? if there can be a couple of photos of what they look like in the real world, not from photoshop.
No,they are not existing. Actually, for months ,Minex is advertising payment cards with specific features, known fees&limits ,despite they have never had any contract with bank or card issuer. |
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Especially because it is not original press release.Original press release would be one published on some of Minex social accounts on Twitter or FB
LOL omg you really got that backwards. Moron. " press release, news release, media release, press statement or video release is a written or recorded communication directed at members of the news media for the purpose of announcing something ostensibly newsworthy" - wikipedia Since when is social media directed at the news media? If an official press release was on social media, the company would be stupid. You don't have news agencies come subscribe to your social media channel, you go to them with your news! Again,it is not original release at all. At it best, just one version of many.Probably there were at least 2 different versions- one more spectacular and the other less one.Everybody knows that crypto news do not alter such announcements,just copy-paste them,so they did not made 2 different version for sure. Any normal company today,publish news on social media,its site,etc.It is nothing abnormal.This and other versions of announcements were never published on Minex site or any other social or some other related Minex account.So mine assumption is right - it was unofficial release so it can be denied if necessary. Insults cant help you.On the contrary it is best sign of utter desperation.Understandable.It is hard to defend project turned bad. |
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Theres like 5-6 different articles, how do you know which one is the original, and why doesn't the scammer Boris Shulyaev get them corrected if their wrong? Why are you intentionally ignoring this article that doesn't make your case? If I had a company with inaccurate information posted through media outlets, I would get that shit corrected as soon as possible, as would any legitimate corporation Exactly. Especially because it is not original press release.Original press release would be one published on some of Minex social accounts on Twitter or FB,but there are no such announcements there. It looks a lot like CSOB case . Unofficially, they published some spectacular news,then trying to deny them when took backfire. One much more important thing stays - they are advertising payment cards with specific features for months,despite they have never had a contract with bank or card issuer. It is a classic fraud of customers,no doubt about it. |
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It seems that people from Minex didnt learn anything.Instead of being honest to theirs investors they are continuing to use new lies and misinformations to cover older ones. No doubt ,this project is in very deep problems and not so far from full blown scam.
There were no misunderstandings with CSOB bank.Misundestanding is when you have some relationship with someone,but your percepion of it is not realistic.
Minex didnt have any relationship with CSOB Bank,so it cant be misunderstanding.It was blatant lie from Minex,which is trying it to present it as a just small argue between old friends.And far from it is just only lie and problem.
Project is in deep trouble with huge list of problems:
- roadmap does not exist any more,parking system proved as an ultimate failure,
- MNX coin lost its value 30x during year !!!
- ICO has already spent 60% of premined coins with very little realisation,
- Minex launched card program on 30th June and gave full list of cards features,fees and limits even they had no contract with any bank or card issuer at that time.Actually they have never such contract,if we dont count Novarise Secrecy phishing scam in October.That was deliberate lying of people who ordered cards and more than enough to label Minex as a scam.Even now they are continuing to advertising same cards with same non-existent features !!!,
- Minex lied that they have contract with CSOB bank.Not that they have not contract ,but they have no any relationship with the bank.Another big lie which pulled Minex deeper into scam territory,
- contract with Novarise Secrecy which they presented as a reliable partner in card program delivery.They sticked to them to the last minute,even there were so many evidences that Novarise Secrecy is phishing scam,
Almost all so called FUD proved as a truth which is disaster for project.Instead of defending project with truthful infos they turned to fight with angry investors.I dont know what is in heads of Minex top officials,but they have to be much more careful or theirs project will soon slide to complete scam.At least they have to stop advertising non-existent cards with non-existent features.
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I have a goal to bury this project ... because it's a big scam ... what's your goal? where are your evidences? ... I showed my facts ? ... if I'm not right you deny me... What is your proof? A screenshot of where an incorrect question was asked to the bank ?? With a logical answer - "we know nothing"? Everything? Why don't you dance with tambourines, let's say in the ZEC project  They have done nothing in 3 years! They have nothing but a wallet !. Is this your scam or not ?? If not, no need to try here !. Why the hell did Borisu have to give $ 500,000 for a listing on 2 exchanges in order to lower the rate to the bottom and merge his coins ?? Are you dumb I noticed it. If mainex were a scam, then all the coins of developers would be sold for $ 60, for $ 50, for $ 40, $ 30, etc. ... but not for $ 1 !!!!!!!! Think with your stupid head !!!! Turn on your stupid brain. Or do you think that they are so stupid ?? They decided to sell the cards for a few bucks to earn ?? Moron. No way he paid so much for listing on minor exchanges. Giving $500K for listing MNX on 2 minor exchanges is insane. I know that Binance asked $100K for listing Dogecoin which is far bigger coin than MNX (plus Binance is far bigger exchange than Exmo and Livecoin). |
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So let us look at CMC. It shows only 1,624,159 MNX coin remain to be mined It show 4,429,131 MNX already mined It shows 6,053,290 MNX are total coins that can be ever be mined Why do the figures not add up if there were 5 million premined MNX a stated in the above post?  You made wrong interpretation of data. Total supply of 6 million coins - all premined and mined coins till now Max supply - maximum coins after mining is over - 19 millions (13 millions still have to be mined) Circulating supply - coins on market at present day - 4.4 millions (rest to 6 millions is probably on parking in Minex bank) |
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@ mr.pacy.mf
Could that be part of their exit strategy?
instabuy for sure ,18000mnx was sold out of their wallet, which everyone is paying attention to,but behind our back they sell tens of thousands of mnx for the clean btc bch and eth through the instabuy system from premine....As many "cards" are sold, more bags will be stolen from innocent people by fraud This is their wallet addresses: XWkxDTkp9uzvtMCE7NRVphzbwMigLrzyzK - ICO fund XMajS6qVruhRMCU9xaA4FGpUothZTwwWVf - Developper fund XVFYK9MgdMDhYwwnTsEkqBFvUytC5QtWE4 - Minexbank  5 millions premined MNX came to these 3 addresses.Now there are 2.005 millions MNX at these addresses: https://bchain.info/MNX/addr/XWkxDTkp9uzvtMCE7NRVphzbwMigLrzyzKhttps://bchain.info/MNX/addr/XMajS6qVruhRMCU9xaA4FGpUothZTwwWVfhttps://bchain.info/MNX/addr/XVFYK9MgdMDhYwwnTsEkqBFvUytC5QtWE4So 3 millions(60%) were spent plus 0,5 MNX what came to Minexbank with every new block mined(110652 MNX till now). Total 3.11 millions of MNX coin spent |
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@ mr.pacy.mf
Could that be part of their exit strategy?
instabuy for sure ,18000mnx was sold out of their wallet, which everyone is paying attention to,but behind our back they sell tens of thousands of mnx for the clean btc bch and eth through the instabuy system from premine....As many "cards" are sold, more bags will be stolen from innocent people by fraud I've been part of a bounty hunter here but I have sold it from my wallet, I didn't expect it to be proven if minexcoin altcoin is scam and not open to the public, I am always on this thread seeing how minex is well developed from their roadmap, hopefully it's just not really disappearing like other altcoin frauds Their destiny is in their hands.Whole whitepaper is shredded in pieces.Roadmap is far from realisation.Payment card program was desperate attempt to reverse whole thing,but it was done so unprofessional that pushed them even closer to abyss.PR is catastrophic - they denied and lied about obvious problems to the bitter end.No one mention how they put from the first day of advertising what limits and fees payment cards would have,when they did not have any contract with bank or card issuer till October with scammy Novarise Secrecy.They will have to do things much,much better than now and even then they have no much time because they lost so many trust.Personally Iam sceptical,but time will tell. |
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They started pre-order sales of cards on 30th.June. By their own info till 24th.Sep, they sold 11579 Standard,4473 Gold,2402 Platinum and 4603 Infinite cards,worth of 529843 MNX. If we took median price between 30th.June($7.44) and 24.Sep($3.36),which is $5.4,Minex took on card program around $2.861 millions.
If they give 100% refund to people who ordered cards, in MNX coins,people would get by today price($2.11) total of $1.18 million or just 41% of paid sum.So with full refund Minex would take about $1.681 million for selling hot air.Probably even more if they dump price of coin further.This is reminder how easy ICOs can scam people and get away with it.
Wrong, they have not sold the amount of cards you say they did. Those are just pre-orders. People that registered and clicked a card without paying. Total amount of cards actually sold and paid for is around 2000 That is not mine data,but Minex official one.Look at theirs news from 24th September and you will see how they are talking about exact numbers of each card type ordered till now. People paid for cards(they never published anywhere did some of them just reserved cards),but not for minimum required balance in MNX - that step was left for time when they got cards.If they were lying or not publish all relevant data ,well, that is another story,but it is not mine fault https://medium.com/minecoin-blog/minexpay-report-the-bank-the-partnerships-the-integrations-d113c1a2ecf3https://medium.com/minecoin-blog/minexpay-tutorial-how-to-purchase-the-card-b316fe8273fa?fbclid=IwAR117cN4SRsDF4w12Cs6B90FJNKC9HplKoWJ52qyEtEnecanL_iFrnBc7X0 |
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Thinking about that is just a dreams, because nobody have any info about that. and that $745k from ICO is just a dust for such big project like Minexcoin. Minexcoin already have 1,5 years of development, but dev's coins are not sold.
more then 18000 mnx of devs coins are sold from their wallet and 70000-80000mnx from premine through instabuy on 0.00075000-0.00100000 price They started pre-order sales of cards on 30th.June. By their own info till 24th.Sep, they sold 11579 Standard,4473 Gold,2402 Platinum and 4603 Infinite cards,worth of 529843 MNX. If we took median price between 30th.June($7.44) and 24.Sep($3.36),which is $5.4,Minex took on card program around $2.861 millions. If they give 100% refund to people who ordered cards, in MNX coins,people would get by today price($2.11) total of $1.18 million or just 41% of paid sum.So with full refund Minex would take about $1.681 million for selling hot air.Probably even more if they dump price of coin further.This is reminder how easy ICOs can scam people and get away with it. |
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