Minexcoin - A new era of payments

[Galabau24]

Dear Minexcoin community members and crypto-market participants. Being entirely aware of our responsibilities in reaching the main goal of Minexcoin project, namely, consolidation of MNX status as a reserve currency on crypto-market, MINEXBANK appeals to you with this Memorandum.

Since the launch of MNX exchange trading on November 1, 2017, MINEXBANK has consistently implemented an integrated financial policy which made it possible to achieve the following macroeconomic indicators:

In a short time reached the 20 USD/MNX average exchange rate (through the basket of the top ten cryptocurrencies).
Upon reaching the rate mentioned above, ensuring the MNX to USD growth rate based on 42.7% per annum. This rate corresponded to the average annual growth of the market capitalization of top ten cryptocurrencies in 2016 - the first half of 2017

As was promised in the previous memorandum dated October 31, 2017, MINEXBANK reviews the average annual MNX to USD growth rate based on realities of the cryptocurrency market development in the second half of 2017.

Given a significant growth acceleration of the combined market capitalization in the second half of 2017, MINEXBANK sets a new benchmark for the MNX to USD growth rate (based on the reached level of 20 USD/MNX). It sets at a rate of no less than 84.88% per annum. It means that MINEXBANK will pursue a monetary policy to maintain an average annual growth of USD/MNX rate not lower than 84.88%. If the market conditions dictate a higher level of this indicator, MINEXBANK will not perceive this as a deviation from declared macroeconomic parameters. The interest rates for MNX parking policy will be aimed exclusively at preventing the deviation of the average USD/MNX annual growth rate from the level of 84.88% downwards.

The basic interest rate remains at 70% per annum.

MINEXBANK will achieve announced indicators by using appropriate MNX parking rates, and if necessary, by direct interventions of BTC or MNX.

This Memorandum shall enter into force at the moment of its publication on the Minexbank official website and is valid for six months before the publication of the new Memorandum. In case of extraordinary occasions in the crypto-industry, MINEXBANK reserves the right to revise this memorandum prematurely.
16.03.2018

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[TeMHuK]

Why is the price so low? the price was fixed at 36-37 USD, but Minexcoin goes down as the market goes straight up. After that, the only thing that can fix the price is new good news. Can we expect any good news for the next 2-3 days? Exchange or something?

Hello!
From all of your questions we can give you an answer only about news. In one-two weeks. Follow our blog on Medium (https://medium.com/minecoin-blog) to be updated.

I am following Minexcoin everywhere already. Everything is going so well, I just don't understand the drop in recent times, and i hope it gets better again.

Why is the price so low? the price was fixed at 36-37 USD, but Minexcoin goes down as the market goes straight up. After that, the only thing that can fix the price is new good news. Can we expect any good news for the next 2-3 days? Exchange or something?

this is the minimum growth rate for 1 year / November 2018     target

If I am not mistaken, this rate have to calculated from 1 April, until 1 September. As a matter of fact, the average price of 20 USD was calculated from November to March.

Price at 1 April was about!! $22.5 in BTC(look at CMC how many BTC that was) . Planned annual !! growth is 84.88% but every half year MNX have new memorandum where that amount can be changed.

[Bossieman]

Here is one theory of why the price is going down right now.
With low volume, one or two whales can do big changes in market price when they sell. 5 days ago, one whale sold 1.100 coins pushing the price down to 16$. The whale: https://bchain.info/MNX/addr/XJ4zhfaKEfa1WFQMAUDN3QhYULY1t3gN56
Then you have https://bchain.info/MNX/addr/XBnG1evWMf51dkj77auLoYJYxepLCmoxSb
There is atleast two whales selling interest profit above 10k MNX.
This is pushing the price down when there is so low volume. We need to get the volume up.

[Galabau24]

It is strange that the price of this coin falls on such a green market. When the market was a red coin, on the contrary, it grew. the coin behaves extremely strange)

Typical  herding behavior by market participants, very much  unexpirienced ones. They are selling  in bear market  and buying in bull one.  (Skilled traders do oposite.) This can trigger a reversal price trend for certain coin  what  exactly we have when looking at MNX atm.
  

actually there is no point in selling as there are some new areas in rosmap, but maybe some are too impatient or are switching back to Bitcoin or Ethereum

[Virtuoso]

if price stay the same and % decrease significantly because bank reserve going down this will not be good

[TeMHuK]

if price stay the same and % decrease significantly because bank reserve going down this will not be good

Bank reserves is enough for about 2 years of the same parking rate. It is nothing to worry about that. In two years this project will be many times bigger than now.

[Hellraiser2]

Hi TeMHuK

Good answer and very realistic, was a worrying thought.

[MineCoin.org]

Minexcoin Info:
Hashrate: 190.30 MSol/s Difficulty: 7.9975859884362

MinexBank Rates:
Daily: 0.25% Weekly: 2.84% Monthly: 13.3% Yearly: 70.4%

Price of MNX: $20,02

[hasna17]

Minexbank provides a great opportunity to generate passive by staking our tokens there and they provide an interesting percentage. This is a very good idea, and It will attract more people to buy this token and from my point of view it will have a positive impact on the price because it is already very limited.
The Minexbank users may decide to make a small selection of their interests for marketing purposes, in the bank is a kind of button installed where each is automatically posted as an example 13%, 0.5% on the entire Minexcoin account.

[MineCoin.org]

Minexbank provides a great opportunity to generate passive by staking our tokens there and they provide an interesting percentage. This is a very good idea, and It will attract more people to buy this token and from my point of view it will have a positive impact on the price because it is already very limited.
The Minexbank users may decide to make a small selection of their interests for marketing purposes, in the bank is a kind of button installed where each is automatically posted as an example 13%, 0.5% on the entire Minexcoin account.

Hello!
Sorry, but I think that I misunderstand something... Can you clarify? (And MNX is a coin, not token)

[graysoon]

I'm pretty sure retention rate is much closer to 100% today in crypto world, losses only to those who sell at loss

[Galabau24]

I'm pretty sure retention rate is much closer to 100% today in crypto world, losses only to those who sell at loss

sell is bullshit in my opinion but everyone must decide for himself makes no sense

[Galabau24]

if price stay the same and % decrease significantly because bank reserve going down this will not be good

Bank reserves is enough for about 2 years of the same parking rate. It is nothing to worry about that. In two years this project will be many times bigger than now.

oh yes the early bird catches the worm

[MineCoin.org]

This project is very good concept, I will follow this project. Hopefully, this project will be hug success for sure!!! Good luck

Thanks

[MineCoin.org]

Minexcoin Info:
Hashrate: 170.63 MSol/s Difficulty: 7.9975859884362

MinexBank Rates:
Daily: 0.25% Weekly: 2.84% Monthly: 13.3% Yearly: 70.4%

Price of MNX: $19,99

[snovik]

The stated goal of the project is in conflict with reality. The founders are probably cool tech guys but not so in finance.

In the real world money is created out of the air by the banking system. Interest rates are assumed to affect the real economy activity through generation of new money, i.e. demand for new goods and/or assets.

Interest rates are not used to regulate supply and demand. Even in the fixed exchange rate system where all textbooks convey that interest rate IS the tool to ensure the peg, the rate as such is the function of currency flows which, generally, arise from flows of real goods and services. The imbalance can only come from this source because for any buyer of a pure financial asset there will always be a seller.

There are no cross-border goods flows in the crypto world. It is just a financial asset without jurisdiction. There is no real economy behind. Crypto world is just a distributed settlement system.

This project sounds cool for grand-mas and pas, i.e. generally financially illiterate people. It has no real content behind the stated goals.

Reserve currency is a bit more than just an fx peg. It requires cross-border flows of real goods and services which by definition are not possible in the distributed crypto-world.

No borders - no reserve currency.

[amdfxman1701]

Here is one theory of why the price is going down right now.
With low volume, one or two whales can do big changes in market price when they sell. 5 days ago, one whale sold 1.100 coins pushing the price down to 16$. The whale: https://bchain.info/MNX/addr/XJ4zhfaKEfa1WFQMAUDN3QhYULY1t3gN56
Then you have https://bchain.info/MNX/addr/XBnG1evWMf51dkj77auLoYJYxepLCmoxSb
There is atleast two whales selling interest profit above 10k MNX.
This is pushing the price down when there is so low volume. We need to get the volume up.

I think you're right. We need to get the trading volume up big time.

[stacking9mm]

Did something happen? My guess is more exchanges would probably be a good idea soon. Just sayin.

[miningguru]

Did something happen? My guess is more exchanges would probably be a good idea soon. Just sayin.

Yes, many people are expecting the same thing we need more exchange for Minexcoin, but already the team is working on different exchanges for listing the Minexcoin and once they have any information they will share it with us.

[TeMHuK]

Did something happen? My guess is more exchanges would probably be a good idea soon. Just sayin.

At the moment it is no bad news at all. Project working like it should.