Minexcoin - A new era of payments

[sonulrk]

You have the only extra short parking time or extra long. Why you have no option for monthly parking or on six months. It is middle rate time.
I think it would be much more tempting

Yep, the extra one-month, three-months and six-months whould add flexibility to parking option.

There are many options to add:
1- Why it is impossible to park coin directly from wallet?
2- Why it is impossible to set a custom duration then it calculates interest rate on fly?
3- Why it doesn't write parking data on block-chain?

1. What I understand from whitepaper is MinexBank and MinexExchange are here (or will be) to control the fluctuations in the MNX value. The parking concept here is not equivalent to staking as PoS mining. Hence it is not usable to park from wallet. When a person use minexbank for parking, minexbank know how many coins are here for parking, so its algorithm can easily calculate the future interest rates to stable it.

2. I think, the algorithm is in its initial state and in future we can hope for more types of duration.

3. There is no need to write parking data on block-chain as you can understand from point 1, it is just to calculate the future interest not to mine.

These all are my personal opinions. I can wrong too.

Regards,

Lalit

[sonulrk]

Minex Devs!  I was part of the ICO and purchased 1098 coins.  When trying to withdraw my coins your system only allowed me to withdraw (Amount: 522.37684991) on Order #4597.  There was no option to change the amount of the withdraw.  I thought that was no big deal and I would come back later to withdraw the remaining coins.  Well I logged back in after about 3 week of waiting the rest of my MNX coins are gone!  My ICO balance now shows 0 MNX!!   I tried contacting you via email but got no response.  Please let me know how you will return my missing coins.  Thanks.  

Hello Bitbat45,

I had exactly the same fraudulent experience with the minex team.

They are now now stealing coins from ICO accounts and covering up with excuses that doesn't make sense. Shame! on Minex Devs.

Below is absolute BS they sent me after robbing me

"Hello nicewoody69!

We reviewed your request about withdrawal MNX from ICO account.

The calculation is as follows: adding 50% bonus to your initial investment of 0.04095320 BTC gives us amount of 0.0614298 BTC (0.04095320 * 50 / 100), which is then divided to the BTC/MNX rate 0.00230755 = 26.621221642 MNX.
We calculated and amount for withdrawal was correct, you can check and recalculate too.

There could be a system error and the amount for the withdrawal is correct (26.621221642).

But balance is shown incorrectly (52.83126964 MNX). "

They failed to realize that we also have friends and families who invested same time,  same day and some of them same amount with us without having this same issue but rather than correct their goofs, they are robbing investors. No doubt they will dump it on other investors if by chance they are able to list the coin on an exchange.

SCAM SCAM SCAM...SHAME SHAME SHAME

If you have invested .04095230 BTC, that is about right.  I have invested around the same amount and received 21 MNX with 5% bonus.  Not a scam so far.  There are delays and the team communicates on Telegram and the forum on the weekdays.

@ Rube08. Minexcoin is a mighty SCAM. First look at the BTC/MNX rate used by the Dev/Admin. It is different from what is on the ICO page. On the ICO page it is 0.00231491 while the Dev computed with 0.00230755. (with the rate on the ICO page and their claims, I am suppose to get 26.536 MNX and not 26.621221642 MNX). Someone said they never get anything right. This further supports it and I second it.

Moreso, If you got about 21 MNX with 5% bonus and I got 26 with 50% bonus, then, you might need to send back some coins to the Dev team. Probably the excess coins they sent you is what they are looking for and maybe that is what is keeping them all messed up and goofy. But...

Don't be quick to forget that 150,000 MNX coins were suppose to be distrubuted. With the ICO, 288.41712580 BTC was raised when divided by BTC/MNX rate of 0.00231491 we have 124,591.075 MNX raised from the ICO. Thus, there is  25,408.925 undistributed MNX which entitles me to additional 5.411 coins. so if the devs know what they are doing I should have 26.536 + 5.411 =31.947 MNX

The minex Team have messed up this project. Now they are robbing Peter to pay Paul for their errors.

@ Minexcoin Admin/Devs, please respond to the write up above. Let people know the truth. Stop robbing and deceiving your investors.

Hello!


How you can calculate how many MNX you have from ICO campaign (for example @ nicewoody69 amount):  
1. @ nicewoody69 invested 0.04095320 BTC
2. @ nicewoody69 had a bonus 50% so 0.04095320 BTC+ 50% = 0.0614298 BTC
3. If we adding 50% bonus to @ nicewoody69 initial investment of 0.04095320 BTC gives us amount of 0.0614298 BTC
4. 1 BTC = 0.00230755 MNX, so @ nicewoody69 total MNX amount is 0.0614298 BTC / 0.00230755 MNX = 26.621221642 MNX.
So @ nicewoody69 amount for the withdraw is 26.621221642 MNX.  
 
Why @ nicewoody69 balance is 52.83126964 MNX, but @ nicewoody69 amount for the withdrawal is 26.621221642 MNX?
Because balance of 52.83126964 MNX it's just a BUG. @ nicewoody69 real balance is 26.621221642 MNX.
The amount for the withdrawal is totally correct - 26.621221642 MNX.
 

@ Bitbat45 you send your MNX from the ICO account to the MNXCore. So you can see your MNX balance on the MinexBank web site (https://minexbank.com) or you can see the MNX balance on your MNXCore (wallet).

I understand the math, but that is not the issue.  The issue is the exchange rate that was shown on your ICO site at the time I purchased during the +20% bonus period was around 0.00109.  This exchange rate was correctly used to credit 1098 MNX to my ICO account, that all worked just fine.  The issue is that at the end of the ICO you decided to change the exchange rate for your own benefit to 0.00230755 and take away more than 1/2 of my coins.  That in my mind is a bait and switch that some other people here are calling a scam.  I think you messed up and you should do the honorable thing and deliver the coins you initially promised to everyone who purchased during these bonus periods.

In my opinion you don't know the reason of this 2nd ICO. Apart from raising money, it was here to determine the MNX coins market value for listing in exchange. When this ICO closed total BTC raised is divided by total MNX sold in this 2nd ICO. Which is the final rate in BTC, i.e. 0.00230755. I can't understand how do you get the rate before the final figures.

There are many problems in this project from developers side but raising the right issue is good for us all.

Please prove that there is a rate of 0.00109 at the time of this 2nd ICO, because then everybody will get double amount of MNX.

[redhack]

Parking works great but it gave out 3 times more last week. Now they decreased payout rates. I guess that's important for long term success. I'm sure big exchanges want to list this coin. When everything is set they will add this coin. It will be worth the wait.

[FSE]

Minex Devs!  I was part of the ICO and purchased 1098 coins.  When trying to withdraw my coins your system only allowed me to withdraw (Amount: 522.37684991) on Order #4597.  There was no option to change the amount of the withdraw.  I thought that was no big deal and I would come back later to withdraw the remaining coins.  Well I logged back in after about 3 week of waiting the rest of my MNX coins are gone!  My ICO balance now shows 0 MNX!!   I tried contacting you via email but got no response.  Please let me know how you will return my missing coins.  Thanks.  

Hello Bitbat45,

I had exactly the same fraudulent experience with the minex team.

They are now now stealing coins from ICO accounts and covering up with excuses that doesn't make sense. Shame! on Minex Devs.

Below is absolute BS they sent me after robbing me

"Hello nicewoody69!

We reviewed your request about withdrawal MNX from ICO account.

The calculation is as follows: adding 50% bonus to your initial investment of 0.04095320 BTC gives us amount of 0.0614298 BTC (0.04095320 * 50 / 100), which is then divided to the BTC/MNX rate 0.00230755 = 26.621221642 MNX.
We calculated and amount for withdrawal was correct, you can check and recalculate too.

There could be a system error and the amount for the withdrawal is correct (26.621221642).

But balance is shown incorrectly (52.83126964 MNX). "

They failed to realize that we also have friends and families who invested same time,  same day and some of them same amount with us without having this same issue but rather than correct their goofs, they are robbing investors. No doubt they will dump it on other investors if by chance they are able to list the coin on an exchange.

SCAM SCAM SCAM...SHAME SHAME SHAME

If you have invested .04095230 BTC, that is about right.  I have invested around the same amount and received 21 MNX with 5% bonus.  Not a scam so far.  There are delays and the team communicates on Telegram and the forum on the weekdays.

@ Rube08. Minexcoin is a mighty SCAM. First look at the BTC/MNX rate used by the Dev/Admin. It is different from what is on the ICO page. On the ICO page it is 0.00231491 while the Dev computed with 0.00230755. (with the rate on the ICO page and their claims, I am suppose to get 26.536 MNX and not 26.621221642 MNX). Someone said they never get anything right. This further supports it and I second it.

Moreso, If you got about 21 MNX with 5% bonus and I got 26 with 50% bonus, then, you might need to send back some coins to the Dev team. Probably the excess coins they sent you is what they are looking for and maybe that is what is keeping them all messed up and goofy. But...

Don't be quick to forget that 150,000 MNX coins were suppose to be distrubuted. With the ICO, 288.41712580 BTC was raised when divided by BTC/MNX rate of 0.00231491 we have 124,591.075 MNX raised from the ICO. Thus, there is  25,408.925 undistributed MNX which entitles me to additional 5.411 coins. so if the devs know what they are doing I should have 26.536 + 5.411 =31.947 MNX

The minex Team have messed up this project. Now they are robbing Peter to pay Paul for their errors.

@ Minexcoin Admin/Devs, please respond to the write up above. Let people know the truth. Stop robbing and deceiving your investors.

Hello!


How you can calculate how many MNX you have from ICO campaign (for example @ nicewoody69 amount):  
1. @ nicewoody69 invested 0.04095320 BTC
2. @ nicewoody69 had a bonus 50% so 0.04095320 BTC+ 50% = 0.0614298 BTC
3. If we adding 50% bonus to @ nicewoody69 initial investment of 0.04095320 BTC gives us amount of 0.0614298 BTC
4. 1 BTC = 0.00230755 MNX, so @ nicewoody69 total MNX amount is 0.0614298 BTC / 0.00230755 MNX = 26.621221642 MNX.
So @ nicewoody69 amount for the withdraw is 26.621221642 MNX.  
 
Why @ nicewoody69 balance is 52.83126964 MNX, but @ nicewoody69 amount for the withdrawal is 26.621221642 MNX?
Because balance of 52.83126964 MNX it's just a BUG. @ nicewoody69 real balance is 26.621221642 MNX.
The amount for the withdrawal is totally correct - 26.621221642 MNX.
 

@ Bitbat45 you send your MNX from the ICO account to the MNXCore. So you can see your MNX balance on the MinexBank web site (https://minexbank.com) or you can see the MNX balance on your MNXCore (wallet).

I understand the math, but that is not the issue.  The issue is the exchange rate that was shown on your ICO site at the time I purchased during the +20% bonus period was around 0.00109.  This exchange rate was correctly used to credit 1098 MNX to my ICO account, that all worked just fine.  The issue is that at the end of the ICO you decided to change the exchange rate for your own benefit to 0.00230755 and take away more than 1/2 of my coins.  That in my mind is a bait and switch that some other people here are calling a scam.  I think you messed up and you should do the honorable thing and deliver the coins you initially promised to everyone who purchased during these bonus periods.

Hello Bitbat45,

I found on page 106 the first post from 14th June is: "The average estimated cost of Minexcoin was 0.00230523 BTC".
So i think it is really bug, not devs intention to make their own profit. Mistake is that investors didnt get any information from devs about this bug.

Fero

[poer]

hi Dev and everyone
how to save my private key?
when  I save private key for my wallet only it error message!!
Ex: ...help degbu window>console> Dumpprivkey (.) my wallet MNX
Please help me, thanks a lot

Hello!

If you want to save your private key you should save it as text document.

How to generate private key:
1. Go to file Help - Debug Window - Console (tab)
2. Enter the following command
 dumpprivkey [address] (please, make sure that you enter the correct address) 
3. Copy the line you get (this is your private key).

Thanks so much for answering my question.
now i will check it out ,good job Dev.

hi Dev,I checked and tried but did not !
it returns an error message ...- Code 13 .
When I open Wallet, do I need to do anything else??

[rafzalan]

You have the only extra short parking time or extra long. Why you have no option for monthly parking or on six months. It is middle rate time.
I think it would be much more tempting

Yep, the extra one-month, three-months and six-months whould add flexibility to parking option.

There are many options to add:
1- Why it is impossible to park coin directly from wallet?
2- Why it is impossible to set a custom duration then it calculates interest rate on fly?
3- Why it doesn't write parking data on block-chain?

1. What I understand from whitepaper is MinexBank and MinexExchange are here (or will be) to control the fluctuations in the MNX value. The parking concept here is not equivalent to staking as PoS mining. Hence it is not usable to park from wallet. When a person use minexbank for parking, minexbank know how many coins are here for parking, so its algorithm can easily calculate the future interest rates to stable it.

2. I think, the algorithm is in its initial state and in future we can hope for more types of duration.

3. There is no need to write parking data on block-chain as you can understand from point 1, it is just to calculate the future interest not to mine.

These all are my personal opinions. I can wrong too.

Regards,

Lalit

Thanks @Lalit for your attention.

1- Its no differ , parking or staking , both are simpler if handled directly from wallet. staking could be done from a web site, but devs develop tools to make it simple for users.
2- I hope so
3- Parking is really a contract between bank and holder, if you look inside this thread, there are many complaints about bank malfunctions, on the other hand minexbank is not a decentralize platform nor opensource, so why peoples should trust it? this is why Ethereum exists, it writes contacts in a decentralize block-chain to make it safe.

[sonulrk]

Thanks @Lalit for your attention.

1- Its no differ , parking or staking , both are simpler if handled directly from wallet. staking could be done from a web site, but devs develop tools to make it simple for users.
2- I hope so
3- Parking is really a contract between bank and holder, if you look inside this thread, there are many complaints about bank malfunctions, on the other hand minexbank is not a decentralize platform nor opensource, so why peoples should trust it? this is why Ethereum exists, it writes contacts in a decentralize block-chain to make it safe.

There are already many complaints even about Minexcore-qt client, so it can not be the reason. About decentralization I agree with you but developers said in one of their blog that apart from MinexBank algorithm a human supervision is always required to control the volatility through Minexbank as suggested by their one of investor bank. It was claimed in their blogs that one of the bank bought a huge sum of MNX with 1700+ btc. I don't know now that in which blog but you can find that in their official Minexcore blog.

There are many good things mixed with suspicious things in this project. You can not sure what is in the future exactly.

[maldini]

When Bittrex 

Hello!

Very soon. In a few weeks. Please, more info here:
https://blog.minecoin.org/minexcoin-status-update-and-news-1344d4c24dee

Bittrex has not received a new coin for a long time, you'd better get confirmation from now on with bittrex, I think it's pretty hard to get bittrex

[rafzalan]

Thanks @Lalit for your attention.

1- Its no differ , parking or staking , both are simpler if handled directly from wallet. staking could be done from a web site, but devs develop tools to make it simple for users.
2- I hope so
3- Parking is really a contract between bank and holder, if you look inside this thread, there are many complaints about bank malfunctions, on the other hand minexbank is not a decentralize platform nor opensource, so why peoples should trust it? this is why Ethereum exists, it writes contacts in a decentralize block-chain to make it safe.

There are already many complaints even about Minexcore-qt client, so it can not be the reason. About decentralization I agree with you but developers said in one of their blog that apart from MinexBank algorithm a human supervision is always required to control the volatility through Minexbank as suggested by their one of investor bank. It was claimed in their blogs that one of the bank bought a huge sum of MNX with 1700+ btc. I don't know now that in which blog but you can find that in their official Minexcore blog.

There are many good things mixed with suspicious things in this project. You can not sure what is in the future exactly.

About a partner bank I read about it and 100% sure it was not happened.
I think in the time of decentralization boom it is not desirable for investors to keep their money (OK I mean the profit part of it) at a centralize cryptobank without a smart contact.
a better approach could be like this:
1- investor want to park his coins
2- a smart contact  is created between bank and investor
3- a multi-sign address is created to hold profit , it should count interest in milisecond
4- investor could transfer coins only after contract time reach

[Onix]

I think it will take longer to enter trading exchanges

[MineCoin.org]

When Bittrex 

Hello!

Very soon. In a few weeks. Please, more info here:
https://blog.minecoin.org/minexcoin-status-update-and-news-1344d4c24dee

Bittrex has not received a new coin for a long time, you'd better get confirmation from now on with bittrex, I think it's pretty hard to get bittrex

Hello!
Our project is quite popular and the number of participants is growing every day. As of today, the MNX has existed for several months including the test period. Our goal is  to enter the exchanges with a good name and reputation and only really stable coins are able to enter such exchanges. And this is what our team strives for.

[TeMHuK]

I think it will take longer to enter trading exchanges

it's not. i think coin is ready for listing.

[easyrimka]

succesfully parked my coins for the 2nd coins, im happy , fully working now

[no-ice-please]

I think it will take longer to enter trading exchanges

it's not. i think coin is ready for listing.

Is the coin not traceable as of now? No listings thus far?

[rube08]

I think it will take longer to enter trading exchanges

it's not. i think coin is ready for listing.

Where do you see it listed? If you are talking about minexcoin on cryptopia, it's a token on the waves network. This is not the same coin.

[elegant_joylin]

I think it will take longer to enter trading exchanges

it's not. i think coin is ready for listing.

Where do you see it listed? If you are talking about minexcoin on cryptopia, it's a token on the waves network. This is not the same coin.

Not yet listed. But we hope they will list it soon after everything is fixed.

[dhemasm]

dev are there any plans to add monthly options to minexbank? annual may be long enough for some people there.

[MineCoin.org]

Is the coin not traceable as of now? No listings thus far?

Where do you see it listed? If you are talking about minexcoin on cryptopia, it's a token on the waves network. This is not the same coin.

Not yet listed. But we hope they will list it soon after everything is fixed.

Hello All,

Please check for our latest updates concerning the exchange listing at our blog: https://blog.minecoin.org/minexcoin-status-update-and-news-1344d4c24dee

[MineCoin.org]

dev are there any plans to add monthly options to minexbank? annual may be long enough for some people there.

Hello dhemasm!

Sure, we do think of adding the month period for parking. Most probably it will be added within the MinexBank upgrade.

[MineCoin.org]

succesfully parked my coins for the 2nd coins, im happy , fully working now

Hello easyrimka!

Thanks for sharing good news! Have a nice day and feel free to contact us if you need any further help.