Minexcoin - A new era of payments

[MineCoin.org]

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.

Hello snovik,

Thank you for your feedback and your thoughts. We appreciate it.

We never stated that interest rate regulate, they try to. Of course, if someone urgently needs money they will sell. The project is not only about the MinexBank and the coin,  as many think without looking further in the WhitePaper or checking new on the Blog. It has many other products to come including MinexMarket, which it going to be a trading platform (here you will see real goods and services).

There are people who work in finance among our community and investors.

Anyway we continue our work and do our best to not disappoint the community

[1714110727]

1714110727

[1714110727]

1714110727

[MineCoin.org]

Minexcoin Info:
Hashrate: 168.77 MSol/s Difficulty: 7.9975859884362

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

Price of MNX: $20.09

[poer]

when realese minexmercant

[MineCoin.org]

when realese minexmercant

Hello poer,

You can check estimated release dates at our RoadMap at: https://medium.com/minecoin-blog/mnx-upgrade-roadmap-2018-ed9b01c258cf

[MineCoin.org]

@MineCoin.org

Hi !

Anyone who searches a bit about MinexCoin will find the main and official page of the project: https://minexcoin.com/

If you wish to mine MNX, you read this page and find:
https://snag.gy/1yIzm4.jpg

This shows only basically 2 pools and solo mining - that's it.

I do understand there is an FAQ - but I guess very few will read it.

I personnaly read this page 3 months ago, and started mining at suprnova and minexpool, having various problems and/or unsatisfactions.
It took me a relatively long time to discover that there are other pools.

Much more, as already said somewhere else, it's a dangerous situation for a coin to be 90% mined by only 2 pools.
What happens to our daily transactions and to the MNX Reserve if one of those pools have a technical problem, or simply closes?

PLEASE update this https://minexcoin.com/ main page, and at least add https://mnx.forgetop.com to give it a chance.

This pool have had up to 10+ MH/s and with zero minute breakdown, stratum or DDOS problem - and allows you to mine with zero % fee.
It's not normal it has no visibility and thus almost no miner.

PLEASE again, add this pool to the main page - and why not other pools?

Million thanks -

Hi paramecie,

The pools you see in the main page proved their work. Basically all others are quite new. Once we are sure that they are all fine, we will add those too. Although you are correct, we have all pools listed in the specified FAQ post: https://faq.minexcoin.com/article/26-how-do-i-start-mining

People do read rare these days, we noticed that   However we do send them the link to this post once they ask how to mine the coin, because we do not provide support on mining issues.

[TeMHuK]

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

As soon as one of the   merchants  starts accepting MNX it's on. The  Minexmarket is in their roadmap and we have to see it in 3rd Q this year.  Team is working very diligently in this direction. Imagine paying in MNX for goods you need.  It's coming,  it's not easy but of course it will be solved. Just a matter of when at this point.

I think everything is closer than you think. When MNX credit cards will be released when you will use them you don't need to swap MNX to USD(or any other fiat) but you will spent MNX and system will do all that for you. And people who is with MNX at the moment will be surprised of coin price, because it is not so much plastic cards where you can spend crypto when you do shoping in local store.

[MineCoin.org]

I understand your point of view; being on the safe size regarding recommended pools.

However, this specific pool is 2+ months old with zero problem.
The team can be reached almost 24/7 on the Gitter chat.

The problem is that while they wait to get any miner (right now we are 20 miners !?) - the team is paying hundred dollars per month of server (20 core / 40 th 250G RAM Servers) EU+Asia, and gets 0$ fees.

They may not be able to pay every month waiting for nothing, and may have to close - like other pools.

In short, recommending only a couple of pools because they're said more reliable (which they aren't, I mined there tens of hours for nothing) - is just killling any attempt for new pools to support the MNX.

And please note you can't say "we aren't concerned about mining"; somewhere MNX life 100% depends of a panel of various pools.

You should really extend the main page list of pools, as also a safety measure for your project in case some of the main ones fails or even misbehave (don't forget the plausible 51% attack).

Well, I still added your concern to our web-site devs as soon as I read it (as we usually do).

The other thing to mention is that we are not saying that "we are not concerned about the mining", I only said that our Support Team does not provide consultations on mining issues, so we address people to pools' groups, both the first one (which has the pool you've mentioned in their pinned post in group) and the Russian miners' group which also has all active pools listed. And we never prohibited or prevent pools' devs from posting their information on the pools, fees, etc.

[MineCoin.org]

Minexcoin Info:
Hashrate: 167.46 MSol/s Difficulty: 7.9975859884362

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

Price of MNX: $19.30

[Virtuoso]

Minexcoin, Is a passive income coin. And people don't understand the beauty of it.

[Gherindra]

I think this is one of the dream projects. If you do not believe it, check who is working on this project. Maybe after seeing it, you will not hesitate to support a project like this. I think it's cool.

[MineCoin.org]

I think this is one of the dream projects. If you do not believe it, check who is working on this project. Maybe after seeing it, you will not hesitate to support a project like this. I think it's cool.

Thank you for warm words

[Deathwing]

Minexcoin Faucet will be down for an estimated 2 to 8 hour period. Sorry for the sudden notice.

The server has crashed and I am working on fixing it.

EDIT: It was apparently a simple fix! We are up again! Thanks for using the site. Again, sorry for the interruption.

[MineCoin.org]

Minexcoin Faucet will be down for an estimated 2 to 8 hour period. Sorry for the sudden notice.

The server has crashed and I am working on fixing it.

Thanks for information!

[amdfxman1701]

I understand your point of view; being on the safe size regarding recommended pools.

However, this specific pool is 2+ months old with zero problem.
The team can be reached almost 24/7 on the Gitter chat.

The problem is that while they wait to get any miner (right now we are 20 miners !?) - the team is paying hundred dollars per month of server (20 core / 40 th 250G RAM Servers) EU+Asia, and gets 0$ fees.

They may not be able to pay every month waiting for nothing, and may have to close - like other pools.

In short, recommending only a couple of pools because they're said more reliable (which they aren't, I mined there tens of hours for nothing) - is just killling any attempt for new pools to support the MNX.

And please note you can't say "we aren't concerned about mining"; somewhere MNX life 100% depends of a panel of various pools.

You should really extend the main page list of pools, as also a safety measure for your project in case some of the main ones fails or even misbehave (don't forget the plausible 51% attack).

I agree. I've been using Forgetop (https://mnx.forgetop.com/) and so far it's been an extremely reliable pool. It should definitely be listed on the list of pools. The hashrate absolutely needs to be spread across more pools.

[stil55]

I like the Minexcoin project because of its stable work in the network, as well as the opportunity to receive a passive monthly income of about 13-14% through a deposit in MinexBank. Tell me where do the revenues come from in the project to pay out 13% of dividends every month, and will not this lead to the end of the project's shutdown?

[Dirtpaw]

I like the Minexcoin project because of its stable work in the network, as well as the opportunity to receive a passive monthly income of about 13-14% through a deposit in MinexBank. Tell me where do the revenues come from in the project to pay out 13% of dividends every month, and will not this lead to the end of the project's shutdown?

https://pbs.twimg.com/media/DW-c64sXcAEl9g4.jpg

[MineCoin.org]

I like the Minexcoin project because of its stable work in the network, as well as the opportunity to receive a passive monthly income of about 13-14% through a deposit in MinexBank. Tell me where do the revenues come from in the project to pay out 13% of dividends every month, and will not this lead to the end of the project's shutdown?

Hello!

All the details are described in white paper, you will find the answers here: https://minexcoin.com/html/download/wpeng.pdf

[MineCoin.org]

Minexcoin Info:
Hashrate: 170.35 MSol/s Difficulty: 7.9975859884362

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

Price of MNX: $19,69

[MineCoin.org]

I agree. I've been using Forgetop (https://mnx.forgetop.com/) and so far it's been an extremely reliable pool. It should definitely be listed on the list of pools. The hashrate absolutely needs to be spread across more pools.

Thank you for the feedback on the pool I have passed information to the web-site devs yesterday

[MineCoin.org]

I like the Minexcoin project because of its stable work in the network, as well as the opportunity to receive a passive monthly income of about 13-14% through a deposit in MinexBank. Tell me where do the revenues come from in the project to pay out 13% of dividends every month, and will not this lead to the end of the project's shutdown?

Hello stil55,

In addition to the beautiful info-graphics Dirtpaw kindly posted from our Twitter #mnxguide project, I would like to remind that the rates can change anytime. They are not staying at the level you see them now. Some people parked for a year to avoid those parking routine and checking on the rates each time, some, on the contrary, like this process and park for even less period, like weekly and some experiment with different parking periods at a time