Minexcoin - A new era of payments

[Convery]

Just woke up and I see -22% today. Guys with weak hands here need more good news? Or I don't understand that fact that they are selling when everything is going smoothly.

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[bozicso]

VISA work in all country,  but a lot country not allow their people to open account outside domicil country.  If I understude you plan to open account lets say in Ukraina for man from Nigeria with their personal document,  but Nigeria law say their people can own just account in Nigeria.  Its not important where you open account,  they cant own account outside Nigeria.  Nigeria is just example,  there is more country...use Google to check

   LMFAO,  run us through that  again that people don't use cryptocurrency  there due to the absence of government respect for it, you are a fucking make believer.

all I was write have't connection with crypto, that is general law from citizens in some country.
And yes, I make criticize all wrong moves as $25, $20.....$8, $3 and I will continue when price reach $0.01. So you can write I am fuder whenever, I don't care for price, I talking and criticize project

+ if you open account in regular bank in some country you need to pay taxes in that country. Then what is benefit of this card if I need to open account in regular bank? Much cheaper to send money from exchange to my bank and then not need to spend money to block MNX

btw about card, @NeuroticFish you must notice one thing. MNX not want to reveal name of bank who issue card, they make long verification because they need time to install VISA softwer and even can't start with that before mid July. Now thay can't tell when you can first time use their card. You learn corret, you pay, then wait 2 weeks for KYC, if not pass you will got refund, if pas then wait 4 weeks for delivery, then make deposit for card status (blocked amount) and then wait sometime to card start work.

[bozicso]

Just woke up and I see -22% today. Guys with weak hands here need more good news? Or I don't understand that fact that they are selling when everything is going smoothly.

It's very easy to understand. 70% not read forums and not read Telegram. They only read price and news on site. MNX have road map and people bought coins, then come end of Q2 and they check news and see nothing about new product from Q2 and see MNX team not write explanation article about delay. They should come here or on Telegram to ask why? No, they expect MNX to come to they.

You can write 3 months about week hands, but truth is MNX not respect community and people sell their coins. They don't care how MNX explain and understand their WP and RM, they are enough smart to make assessment and then things are clear, people continue to sell

[ArminH]

VISA work in all country,  but a lot country not allow their people to open account outside domicil country.  If I understude you plan to open account lets say in Ukraina for man from Nigeria with their personal document,  but Nigeria law say their people can own just account in Nigeria.  Its not important where you open account,  they cant own account outside Nigeria.  Nigeria is just example,  there is more country...use Google to check

   LMFAO,  run us through that  again that people don't use cryptocurrency  there due to the absence of government respect for it, you are a fucking make believer.

all I was write have't connection with crypto, that is general law from citizens in some country.
And yes, I make criticize all wrong moves as $25, $20.....$8, $3 and I will continue when price reach $0.01. So you can write I am fuder whenever, I don't care for price, I talking and criticize project

+ if you open account in regular bank in some country you need to pay taxes in that country. Then what is benefit of this card if I need to open account in regular bank? Much cheaper to send money from exchange to my bank and then not need to spend money to block MNX

btw about card, @NeuroticFish you must notice one thing. MNX not want to reveal name of bank who issue card, they make long verification because they need time to install VISA softwer and even can't start with that before mid July. Now thay can't tell when you can first time use their card. You learn corret, you pay, then wait 2 weeks for KYC, if not pass you will got refund, if pas then wait 4 weeks for delivery, then make deposit for card status (blocked amount) and then wait sometime to card start work.

Is this true? You can only spend coins that you deposit on the card before? Why isn't the card linked to minexbank account?

[Racquemis1]

btw about card, @NeuroticFish you must notice one thing. MNX not want to reveal name of bank who issue card, they make long verification because they need time to install VISA softwer and even can't start with that before mid July. Now thay can't tell when you can first time use their card. You learn corret, you pay, then wait 2 weeks for KYC, if not pass you will got refund, if pas then wait 4 weeks for delivery, then make deposit for card status (blocked amount) and then wait sometime to card start work.

1. Its not that MinexSystems doesn`t want to reveal the name of the bank. It`s that the bank doesn`t want to have it revealed at this moment. If MinexSystems disrepects that we would have no cards at all.
2. It isn`t VISA software they`re creating. It`s a connector between the bank and the MinexPay environment
3. It`s actually good to take orders now to not have further delays. This means that once the connector software is installed the system we could immediately use the cards the bank has shipped to us.

Is this true? You can only spend coins that you deposit on the card before? Why isn't the card linked to minexbank account?

Its a debit card. so yes. Also how could it be linked to minexbank?. spending coins would cancels your parkings. not something i would want.

[TeMHuK]

btw about card, @NeuroticFish you must notice one thing. MNX not want to reveal name of bank who issue card, they make long verification because they need time to install VISA softwer and even can't start with that before mid July. Now thay can't tell when you can first time use their card. You learn corret, you pay, then wait 2 weeks for KYC, if not pass you will got refund, if pas then wait 4 weeks for delivery, then make deposit for card status (blocked amount) and then wait sometime to card start work.

1. Its not that MinexSystems doesn`t want to reveal the name of the bank. It`s that the bank doesn`t want to have it revealed at this moment. If MinexSystems disrepects that we would have no cards at all.
2. It isn`t VISA software they`re creating. It`s a connector between the bank and the MinexPay environment
3. It`s actually good to take orders now to not have further delays. This means that once the connector software is installed the system we could immediately use the cards the bank has shipped to us.

Is this true? You can only spend coins that you deposit on the card before? Why isn't the card linked to minexbank account?

Its a debit card. so yes. Also how could it be linked to minexbank?. spending coins would cancels your parkings. not something i would want.

It is impossible to link Minexpay to Minexbank because all coins is NOT in Minexbank, but in your wallet and nobody can withdraw coins from your wallet.

[bozicso]

I do not understand why the name of the bank is secret? If I can order the card then the deal is probably made? I really see no reason to hide something, or we can order cards but they still negotiate with the bank?

It is possible that there is no agreement with the bank, because KYC should made the bank issuing the card, not MNX

Important things are being presumed here. MNX plans to open an account with a regular bank with our documents. That bank issues cards on the basis of that account. If I want to order Gold card I have to pay 5 coins and 50 coins to block. If the price of $ 10 means that I need $ 550 to have a Gold card.

If I sell my MNX on the Livecoin and send money to my bank account, then I can spend the same money on my card with the difference that I do not need $ 550 + I choose best price for sell

Where is benefit between MNX and regular card? regular card is more cheap + I need to choose when going in shoping, maybe MNX price drop and I don't want to sell my MNX per that price, in that case my MNX card is worthless...

[Racquemis1]

Crypto Rich has a new video on Youtube about MNX
In it he shows two video commercials MinexSystems has made for MinexPay

https://www.youtube.com/watch?v=QrrT536hCPU

[Racquemis1]

I do not understand why the name of the bank is secret? If I can order the card then the deal is probably made? I really see no reason to hide something, or we can order cards but they still negotiate with the bank?

- Deal is made but some legal matters must still be finalized. When a deal is made that's not the end of it. Companies have many certifications and they need to process everything correctly for them not to be revoked. Legal documentation is probably being finalized. Only after that is done can both parties issue a press release. and then the bank can be known. There is far more to business deals than you migh think

Also think of this: If both parties didn't issue a press release and one of the companies would release the name of the other party that is basically leaking of insider information. The other party might not like that when it isn't ready to disclose that info. And if the bank or institution is stock listed it could cause trading with that 'insider' information.

It is possible that there is no agreement with the bank, because KYC should made the bank issuing the card, not MNX

Important things are being presumed here. MNX plans to open an account with a regular bank with our documents.

No important things are missed by you. Nothing is presumed.
- The bank will issue and distribute credit cards with it's credit limit backed by the MNX you need to block. It is no assumption. this info has been shared
- The debit part only comes in from the 'connector' between the banks and the MinexPay system which will auto transfer funds when a payment is made from the credit card effectively turning it into a debit card.

[bozicso]

In a serious business, if you talk about it, you do not do anything until you finish the story. First do all paperwork and then start selling. If we continue on a serious business, when you sell something, you have to give out all the details of what you are selling.

What of this MNX showed?
The most important question, why does MNX haven't time to wait? panic?
I think you are a smart man, think a little about my posts, line between rows.
Do not blindly defend 

[1amCrypt0]

I do not understand why the name of the bank is secret? If I can order the card then the deal is probably made? I really see no reason to hide something, or we can order cards but they still negotiate with the bank?

- Deal is made but some legal matters must still be finalized. When a deal is made that's not the end of it. Companies have many ISO and other certifications and they need to process everything correctly for them not to be revoked or fined. Legal documentation is probably being finalized. Only after that is done can both parties issue a press release. and then the bank can be known.

Think of this: If both parties didn't issue a press release and one of the companies would release the name of the other party that is basically leaking of insider information.

bozicso and mr.pacy.mf will never understand that even the basic one. They are young enough to make sense in the world of crypto. All they know is to blame anybody anyone everytime they lose. Every page of this thread you will see em crying for their candies. Hope these kids will survive in crypto and start to grow up.  

[Racquemis1]

In a serious business, if you talk about it, you do not do anything until you finish the story. First do all paperwork and then start selling. If we continue on a serious business, when you sell something, you have to give out all the details of what you are selling.

Haha and yet we live in a world of pre-orders with millions of people pre-purchase games, music and other stuff before all the details are actually known. Those are well established multi-million companies taking the orders.
So you got a clear lack of understanding how businesses can work. I would suggest you get some more life experience.

Pre-orders are effective for multiple reasons
1) the number of pre-orders will make clear how much time is required to process them and you can plan accordingly
2) Doesn't cause unnecessary delays if you are sure your going to get to release the product
You can absolutely run orders, KYC and development parallel to each other. It simply saves a lot of time

I can't even imagine how much delays i would have in my projects at work if i did everything sequential  

[dejan_p]

It's very easy to understand. 70% not read forums and not read Telegram. They only read price and news on site. MNX have road map and people bought coins, then come end of Q2 and they check news and see nothing about new product from Q2 and see MNX team not write explanation article about delay. They should come here or on Telegram to ask why? No, they expect MNX to come to they.

OR, it could also mean that crypto traders who trade coins based purely on market movement percentages (and don't give a f* about forums, since 500k is their "play money"), bought the coin when it started going up i.e.10,20%, and now seeing that there is no further movement, sold their coins and went in for something else, as they do every day

please, next time btc loses 10%, blame the mnx team

[MineCoin.org]

Thank you for the answers, although I didn't understand well enough most of them.
Also it may worth notifying you that, at least for me, quoting doesn't work and it may be because the thread has became too long. Maybe it would be a good idea to start a "continuation" thread. Maybe.

When you order the card, your credit limit is set to zero. You can upload your debit card with fiat money same as you can do with the usual bank’s card. As for the credit limit, it will be set according to your share in ETF (Exchange Traded Fund) When you send your MNX to the fund you automatically become its co-owner, and it guarantees reimbursement of your credit limit on your behalf by selling your coins at the very moment  when you spend the money from your credit (credit limit). Minimum required balance is a minimum balance that activates the status of the card and provides you with all the conditions of the selected status. Overdraft limit is a credit limit, which is set depending on the status of the card.
Minimum required balance are blocked on the card depending on its class.

OK, let's say I don't use fiat at all. I want to spend only MNX and BTC.
I transfer 100$ worth of MNX to the card. What's next? Do I have to transform that to fiat in order to spend? Or this is the moment the MNX is somehow calculated for the overdraft?
Let's say I transfer more 100$ worth of MNX to the card. And let's say I spend the first 100$ somehow. Is the overdraft related to 100$ MNX or 200$ MNX?
Sorry, as you can see I am confused on this concept and I would like to find out 2 things:
1. How does the spending of cryptocurrency works on your card
2. If this overdraft functionality can be abused (since then I will stay away of your cards).

You will receive your card after verification process completed.
Per the note you see after paying for the card, verification process to be started in the second part of July for the first registered users. The rest will be verified in their turn accordingly.
Then the card is to be delivered by courier service and the delivery date depends on their estimated time needed for delivery to each specific country.

It's a bit odd that I pay for the card, then I send out the papers and then my card could be rejected. But maybe I understood it wrong.
From what I could calculate verification starts around 15-20 of July. A typical verification takes maximum 2 weeks. That means that in 1-10 August the first cards should start to get sent out. Sounds reasonable.

Ok, as you can understand at first you should pay for card depends on the type of card. To activate the card, you need to transfer to the card the amount for the minimum required balance, depending on the type of card. After that you can put money on the card and spend them, but not more than 90% of the amount you put, this will be your overdraft limit.

So, for example, if you order gold card, you should pay for card at first(5 mnx) , after verification send 50 MNX for activation(minimum required balance (MNX only)), and then you can send money to your balance, like a 100$ (fiat or crypto), and can spend no more 90%  of this amount.

[MineCoin.org]

Thank you for the answers, although I didn't understand well enough most of them.
Also it may worth notifying you that, at least for me, quoting doesn't work and it may be because the thread has became too long. Maybe it would be a good idea to start a "continuation" thread. Maybe.

When you order the card, your credit limit is set to zero. You can upload your debit card with fiat money same as you can do with the usual bank’s card. As for the credit limit, it will be set according to your share in ETF (Exchange Traded Fund) When you send your MNX to the fund you automatically become its co-owner, and it guarantees reimbursement of your credit limit on your behalf by selling your coins at the very moment  when you spend the money from your credit (credit limit). Minimum required balance is a minimum balance that activates the status of the card and provides you with all the conditions of the selected status. Overdraft limit is a credit limit, which is set depending on the status of the card.
Minimum required balance are blocked on the card depending on its class.

OK, let's say I don't use fiat at all. I want to spend only MNX and BTC.
I transfer 100$ worth of MNX to the card. What's next? Do I have to transform that to fiat in order to spend? Or this is the moment the MNX is somehow calculated for the overdraft?
Let's say I transfer more 100$ worth of MNX to the card. And let's say I spend the first 100$ somehow. Is the overdraft related to 100$ MNX or 200$ MNX?
Sorry, as you can see I am confused on this concept and I would like to find out 2 things:
1. How does the spending of cryptocurrency works on your card
2. If this overdraft functionality can be abused (since then I will stay away of your cards).

You will receive your card after verification process completed.
Per the note you see after paying for the card, verification process to be started in the second part of July for the first registered users. The rest will be verified in their turn accordingly.
Then the card is to be delivered by courier service and the delivery date depends on their estimated time needed for delivery to each specific country.

It's a bit odd that I pay for the card, then I send out the papers and then my card could be rejected. But maybe I understood it wrong.
From what I could calculate verification starts around 15-20 of July. A typical verification takes maximum 2 weeks. That means that in 1-10 August the first cards should start to get sent out. Sounds reasonable.

Well, you don't transfer funds directly to the card, or they'll be connected with the current exchange rate and that's spending fiat, not crypto. What you do is there are addresses linked with your MinexPay card. You transfer your coins there, either BTC, ETH, or MNX, but let's stick to your case. You've topped up your card with 100$ worth of MNX. The next day the price has risen and now it's worth, let's say, 110$. Then you replenish your card with another 100$ worth of MNX, so there's basically 210$ worth of MNX at your disposal. When you are making a purchase, your MNX is converted into fiat. The whole process takes up to 3s. If you've got more than one currency, you will be able to choose which one to spend. The overdraft limit means that you can't spand more than a certain amount of all funds on your card in one day. So, if you own a standard card, you can't spend more than 200$ in one day. The overdraft limit is 80%, if you have 210$ worh of crypto on your card, you can't spend more than 80% of that total amount in one day - so the maximum amount that you can spend is that case is 168$ out of 210$ on your card

[syphen]

Loving the growth of the community, day by day, that’s all I’ve been noticing. This is only from results of marketing and the cards announcement.

[bozicso]

It's very easy to understand. 70% not read forums and not read Telegram. They only read price and news on site. MNX have road map and people bought coins, then come end of Q2 and they check news and see nothing about new product from Q2 and see MNX team not write explanation article about delay. They should come here or on Telegram to ask why? No, they expect MNX to come to they.

OR, it could also mean that crypto traders who trade coins based purely on market movement percentages (and don't give a f* about forums, since 500k is their "play money"), bought the coin when it started going up i.e.10,20%, and now seeing that there is no further movement, sold their coins and went in for something else, as they do every day

please, next time btc loses 10%, blame the mnx team

it is possible, but is not case. why? because people sell, sell and continue sell 3 months
that telling something? impossible to we have weak hands 3 months.
Or maybe MNX think I have 500.000 coins and selling every day just to make you all mad  

btw Boris write public post in Telegram, he expect 40.000 card orders in 1st month. How much people pay for card until now? do you have 1000 people for this 3-4 days?

[tex83rb]

i always see maximum support from the team in telegram at every hour of the day. yesterday a  problem with the wallet, all solved in few minutes. so i dont understand all this fud about the team and the coin. wait some time and leave them develop!

[1amCrypt0]

It's very easy to understand. 70% not read forums and not read Telegram. They only read price and news on site. MNX have road map and people bought coins, then come end of Q2 and they check news and see nothing about new product from Q2 and see MNX team not write explanation article about delay. They should come here or on Telegram to ask why? No, they expect MNX to come to they.

OR, it could also mean that crypto traders who trade coins based purely on market movement percentages (and don't give a f* about forums, since 500k is their "play money"), bought the coin when it started going up i.e.10,20%, and now seeing that there is no further movement, sold their coins and went in for something else, as they do every day

please, next time btc loses 10%, blame the mnx team

it is possible, but is not case. why? because people sell, sell and continue sell 3 months
that telling something? impossible to we have weak hands 3 months.
Or maybe MNX think I have 500.000 coins and selling every day just to make you all mad  

Only weak holders sell their coins. Dont you know that in every SELL there is also somebody buying it??? absolutely, they are the ones who is doing some smart move here. They are silent and happy for what you are doing since then to fill up their positions. You can dump all your coins dude and there's always somebody waiting at the bottom including mine.  

[TeMHuK]

Update

It is new video at YouTube from Crypto Rich. There you can found a lot of info about MinexPay cards and it is possible to see 2 advertisements of cards and cash machines.

https://www.youtube.com/watch?v=QrrT536hCPU&feature=youtu.be