Minexcoin - A new era of payments

[Kirilgeorgiev]

ooo nooo I wanted to buy some more coins at 20usd but I thought lets wait a little bit more it might get to 15 usd and now it is too late

[1715041927]

1715041927

[1715041927]

1715041927

[fabcl]

https://medium.com/@Elegant_Joylin/minexcoin-mnx-a-cryptocurrency-that-could-possibly-surpass-bitcoin-f4ee8b04720f

Everything is mathematically correct in this article but completely out of a plausible scenario.
A daily rate of 0.89% can't stay for long : It is a yearly equivalent of 2438% (approx.)

If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity.
(For the record, the bank gets around 240 MNX a day out of mining which makes 87 600MNX a year. This doesn't count the fee on transactions).

I hope, for the sake of this project that the daily rate is going to go down by a lot soon enough.

Stop dreaming about high rates and big money and go back to real calculations if you really want to earn money.

Off coarse that the bank will change the interest rate as soon as the project gathers enough interest I guess only the yearly interest will be kept a little longer

Then why making some calculations on something which can't happen?

[jenlex13]

https://medium.com/@Elegant_Joylin/minexcoin-mnx-a-cryptocurrency-that-could-possibly-surpass-bitcoin-f4ee8b04720f

Everything is mathematically correct in this article but completely out of a plausible scenario.
A daily rate of 0.89% can't stay for long : It is a yearly equivalent of 2438% (approx.)

If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity.
(For the record, the bank gets around 240 MNX a day out of mining which makes 87 600MNX a year. This doesn't count the fee on transactions).

I hope, for the sake of this project that the daily rate is going to go down by a lot soon enough.

Stop dreaming about high rates and big money and go back to real calculations if you really want to earn money.

Off coarse that the bank will change the interest rate as soon as the project gathers enough interest I guess only the yearly interest will be kept a little longer

Then why making some calculations on something which can't happen?

he/she said in the blog that "assuming" MNX stays at $20. which means same parking rates.
that is what i understand.

[fabcl]

https://medium.com/@Elegant_Joylin/minexcoin-mnx-a-cryptocurrency-that-could-possibly-surpass-bitcoin-f4ee8b04720f

Everything is mathematically correct in this article but completely out of a plausible scenario.
A daily rate of 0.89% can't stay for long : It is a yearly equivalent of 2438% (approx.)

If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity.
(For the record, the bank gets around 240 MNX a day out of mining which makes 87 600MNX a year. This doesn't count the fee on transactions).

I hope, for the sake of this project that the daily rate is going to go down by a lot soon enough.

Stop dreaming about high rates and big money and go back to real calculations if you really want to earn money.

Off coarse that the bank will change the interest rate as soon as the project gathers enough interest I guess only the yearly interest will be kept a little longer

Then why making some calculations on something which can't happen?

he/she said in the blog that "assuming" MNX stays at $20. which means same parking rates.
that is what i understand.

Whatever the $ value is, parking rates can't stay this high, that's my point. And revenues are calculated with those rates. Which can't happen or MinexCoin will be shut down before that.

[kenzie95]

https://medium.com/@Elegant_Joylin/minexcoin-mnx-a-cryptocurrency-that-could-possibly-surpass-bitcoin-f4ee8b04720f

Everything is mathematically correct in this article but completely out of a plausible scenario.
A daily rate of 0.89% can't stay for long : It is a yearly equivalent of 2438% (approx.)

If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity.
(For the record, the bank gets around 240 MNX a day out of mining which makes 87 600MNX a year. This doesn't count the fee on transactions).

I hope, for the sake of this project that the daily rate is going to go down by a lot soon enough.

Stop dreaming about high rates and big money and go back to real calculations if you really want to earn money.

Off coarse that the bank will change the interest rate as soon as the project gathers enough interest I guess only the yearly interest will be kept a little longer

Then why making some calculations on something which can't happen?

he/she said in the blog that "assuming" MNX stays at $20. which means same parking rates.
that is what i understand.

Whatever the $ value is, parking rates can't stay this high, that's my point. And revenues are calculated with those rates. Which can't happen or MinexCoin will be shut down before that.

They wont stay high, daily park was for example 0.29% most of earlier days and then when this all dump started, devs got it up to .89% daily to attract new people in. They are testing the rates and for sure it wont stay this high. However for brave people and people that trust in this project this is kind of the reward, but most of people don't realise it.

[kenzie95]

Is it really 0.89% daily, and not 0.89% per annum divided by 365? Can anyone confirm this with a reference?

At this moment its 0.89% daily

Pic : https://gyazo.com/fd6211bed02ced6caa452f226a406a6b

[fabcl]

https://medium.com/@Elegant_Joylin/minexcoin-mnx-a-cryptocurrency-that-could-possibly-surpass-bitcoin-f4ee8b04720f

Everything is mathematically correct in this article but completely out of a plausible scenario.
A daily rate of 0.89% can't stay for long : It is a yearly equivalent of 2438% (approx.)

If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity.
(For the record, the bank gets around 240 MNX a day out of mining which makes 87 600MNX a year. This doesn't count the fee on transactions).

I hope, for the sake of this project that the daily rate is going to go down by a lot soon enough.

Stop dreaming about high rates and big money and go back to real calculations if you really want to earn money.

Off coarse that the bank will change the interest rate as soon as the project gathers enough interest I guess only the yearly interest will be kept a little longer

Then why making some calculations on something which can't happen?

he/she said in the blog that "assuming" MNX stays at $20. which means same parking rates.
that is what i understand.

Whatever the $ value is, parking rates can't stay this high, that's my point. And revenues are calculated with those rates. Which can't happen or MinexCoin will be shut down before that.

They wont stay high, daily park was for example 0.29% most of earlier days and then when this all dump started, devs got it up to .89% daily to attract new people in. They are testing the rates and for sure it wont stay this high. However for brave people and people that trust in this project this is kind of the reward, but most of people don't realise it.

I KNOW they won't stay that high. Again, I was talking about this article which shows what you COULD earn with those rates, which will NEVER happen. Such an article doesn't help MinexCoin. It will only make people angry in a few weeks when they realize the parking rates are going down by a lot and they're gonna run away.

[Fabriz]

The interests will be lowed for sure, but they have an algorithm that calculate parking rates based on the mnx parked, their reserve and the mined....if they need more mnx can adjust the mining difficulty. If a lot of people try to dump their coins the amount of parked mnx go down, so they can increase the parking rate. Then they’ll have a bot that place orders in the exchange to control volatility

[fabcl]

Is it really 0.89% daily, and not 0.89% per annum divided by 365? Can anyone confirm this with a reference?

You get your interests at the end of the parking period so yes, it's a daily rate.

[fabcl]

Isn't the maximum supply of this coin 19,000,000? Referencing your earlier post:

"If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity."

The interest rates have to come down drastically and soon, or Minexbank will end up not being able to pay any interest at all ever again.

All the coins haven't been release yet, hence mining.
3 000 000 is an approximation of what's available now but I did not even check carefully. Not sure about the right number, I don't have time to check but I shouldn't be too far.

[TeMHuK]

Isn't the maximum supply of this coin 19,000,000? Referencing your earlier post:

https://medium.com/@Elegant_Joylin/minexcoin-mnx-a-cryptocurrency-that-could-possibly-surpass-bitcoin-f4ee8b04720f

If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity.

The interest rates have to come down drastically and soon, or Minexbank will end up not being able to pay any interest at all ever again.

That percents in bank will be changed. High daily percents is reaction of bank to the price drop, and it's works.  

[Fabriz]

Isn't the maximum supply of this coin 19,000,000? Referencing your earlier post:

"If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity."

The interest rates have to come down drastically and soon, or Minexbank will end up not being able to pay any interest at all ever again.

They have an algorithm for parking so it’s all under control, if the parking rate increase would say they can pay that amount, when the amount of parked mnx will increase the parking rate decrease.
This is the moment for investors to buy Mnx and start parking for accumulate Minex.

[fabcl]

Isn't the maximum supply of this coin 19,000,000? Referencing your earlier post:

"If only 100 000MNX out of 3 000 000 are parked (which wouldn't be a lot) at this rate for a year, the bank would have to pay 2 438 000 MNX in interests which is way beyond its capacity."

The interest rates have to come down drastically and soon, or Minexbank will end up not being able to pay any interest at all ever again.

They have an algorithm for parking so it’s all under control, if the parking rate increase would say they can pay that amount, when the amount of parked mnx will increase the parking rate decrease.
This is the moment for investors to buy Mnx and start parking for accumulate Minex.

Seriously, I KNOW all that, just read my previous messages, I was talking about a previously posted article.

[musta5a]

Central bank and crypto just can't live under the same roof

[TeMHuK]

This seems broken to me. Can anyone actually confirm that its 0.89% interest daily and not 0.89% per annum divided by 365? Interest rates are generally per annum. Otherwise it makes no sense. Why would the daily parking interest rates added up over a yearly period be higher than parking the coin for the entire year? isn't the incentive meant to be make people park the coins for as long as possible?

You told us you was investor, but did you read Minexcoin white paper and memorandum? If you did, so why you asking so simple questions?

[jenlex13]

Can you stop avoiding the question? I want proof that it's 0.89% daily and not 0.89% p.a./365. There is no reason for it to be otherwise. Why would daily parking rates be more lucrative than yearly parking rates? You have it backwards. The interest payouts at that kind of rate would mean that the maximum supply of coins was quickly reached and there would be no more capacity for interest to be earned, ever. When you are quoting interest rates generally, 0.89% daily would be taken as 0.89% p.a./365.

It is 0.89% daily. you will earned your 0.89% interest after 24 hours.

[TeMHuK]

Can you stop avoiding the question? I want proof that it's 0.89% daily and not 0.89% p.a./365. There is no reason for it to be otherwise. Why would daily parking rates be more lucrative than yearly parking rates? You have it backwards. When you are quoting interest rates generally, 0.89% daily would be taken as 0.89% p.a./365.

open bank site and check. it is 0.89 daily now, but this percent will be changed after price ricing. read white paper and you will understand why it will hapends.

[TeMHuK]

But where is the proof of this?

Big investor  I'm crying

[fabcl]

Can you stop avoiding the question? I want proof that it's 0.89% daily and not 0.89% p.a./365. There is no reason for it to be otherwise. Why would daily parking rates be more lucrative than yearly parking rates? You have it backwards. The interest payouts at that kind of rate would mean that the maximum supply of coins was quickly reached and there would be no more capacity for interest to be earned, ever. When you are quoting interest rates generally, 0.89% daily would be taken as 0.89% p.a./365.

Seriously, I already told you : The bank pays you the interests at the end of the period, so yes it's a daily rate. Then use the following formula to calculate the yearly rate :

((1 + daily rate/100)^365 - 1) * 100

[jenlex13]

But where is the proof of this?

I just parked yesterday at daily rate .. I will put Screenshot here after 3 hours.