Minexcoin - A new era of payments

[snovik]

It's only been 6 months since Minexcoin's creation, Bitcoin has been around for almost 10 years and it's still in development, things don't just happen overnight. When the Minex platform is created then we can see some more uses for the coin. Currently it's good for a passive income, it's still way better interest than most banks offer. As for the current price my guess is people got bored of waiting and they wanted to move their money into other projects while the entire crypto market cap doubled in the past month, basically all the people who wanted to make a quick buck left the project and now were left with the long term holders. I'm not too concerned with the current price since this is a long term investment for me.

fine. but I would appreciate if minex marketing people stopped bullsh&tting about some non existant algo (or it is so primitive that needs constant override by some experts and occasional override by the CEO)

This coin has big promises but fails to deliver on its major one (stability) by a veeery long mile

[sweatyfrominvesting]

Dear MineCoin.org

I am in the finance business (asset-liability management of a major european bank) for over 15 years. Please stop this minex bank thing. It just does not work like this. If you managed to find a super-duper algo which makes money, then you would have been making it outside of this thread. There is no algo.

Thank you
Really bored one

Minexcon has never claimed to create a trading bot like Bitconnect did, this coin is self regulating, it relies on the source code being extensively modified to limit the inputs and outputs of wallets at either the exchange level, or global wallet level (i.e. the Minex platform), and to control inflation it uses interest from a massive premined reserve which is constantly being refilled via miner tax.

Currently one of these systems has been implemented and we are just waiting on the other one. If you read the whitepaper you would know.

[MineCoin.org]

Dear MineCoin.org

I am in the finance business (asset-liability management of a major european bank) for over 15 years. Please stop this minex bank thing. It just does not work like this. If you managed to find a super-duper algo which makes money, then you would have been making it outside of this thread. There is no algo.

Thank you
Really bored one

Hello!

Our algho it's not making money, it just trying to keep the price in corridor with instruments, which are working with fiat money.
Please, don't spread false info.

[snovik]

oh cmon guys... just dont make it worse

what trading bot? do you really understand how fiat money works? you spill a bunch of concepts and i dont know where to start...

please stop mixing fiat money and crypto. in fiat money, the agent creates money as much as he wants. do you want a billion USD? here we go, It can be a trillion or whatever zillion but other constraints kick in

obviously crypto is not like this.

what exactly are you doing to ensure the stability? interest rates are not going to cut it. Which is exactly what your CEO just said. Have you actually read a "whitepaper" of SDR?

Guys, I am really on the border saying you have no clue what your are talking about. Please provide answers.

[MineCoin.org]

oh cmon guys... just dont make it worse

what trading bot? do you really understand how fiat money works? you spill a bunch of concepts and i dont know where to start...

please stop mixing fiat money and crypto. in fiat money, the agent creates money as much as he wants. do you want a billion USD? here we go, It can be a trillion or whatever zillion but other constraints kick in

obviously crypto is not like this.

what exactly are you doing to ensure the stability? interest rates are not going to cut it. Which is exactly what your CEO just said. Have you actually read a "whitepaper" of SDR?

Guys, I am really on the border saying you have no clue what your are talking about. Please provide answers.

Answers to what? Interest rates are working, check the price changes after rates updates in past. Yes, they can't prevent all dumps or pumps, and there is nothing strange in it, because no one have given any guarantees that it will always work stable. You are just complaining that all is a lie and nothing works, it's your opinion and I don't know in which way I can change it.

[flipflop.0]

Hello!

Our algho it's not making money, it just trying to keep the price in corridor with instruments, which are working with fiat money.
Please, don't spread false info.

From what I've read in the thread and telegram, minex and the implemented algo are interesting and I really like the ideas of Minexcoin and -Bank. However, 1) 5% a day is still quite big for a coin which aims to be somewhat a stable coin, 2) being an algo and interfering (only in emergency cases) in the markets - it sounds to me like a bet on human rationality, which is... well... you know. 3) Aiming for stability towards fiat instead of btc or the crypto top 10 in times when investments in crypto get somewhat shuffled, I personally see the possibility of huge fluctuations, it will be at least interesting to see how the price develops with that and your algo adjusts to it, keeping the 5% in mind. Apart from that, thumbs up for your progress so far. Permanent development, constant progress on the roadmap, I like the Minexbank app and lately lightning transactions with btc and ltc (which I very much miss just the mention of it from newer coins), I am looking forward to hear more and keep parking a few mnx. I would like to hear more about your plans for Q3 and Q4 especially for mining, but that is still 'far' away, so keep up the good work 

[sweatyfrominvesting]

If you managed to find a super-duper algo which makes money, then you would have been making it outside of this thread. There is no algo.

You implied that there was a trading bot out of your own misinformation.
If you look at Minexcoin on Coinmarketcap you can see that it is more stable than most of the other cryptocurrencies, compare the last 3 months of Minexcoin to Litecoin and see for yourself.
Minexcoin is doing a good job controlling it's value and smoothing out any pumps. When the platform is released then it can smooth out and control the dumps.
Does that explain it better?

[revenant2017]

To those who still planning on to dump their MNX, do it now and fill my buy orders at livecoin. I've been accumulating MNX through dips so it's a better choice to you to leave now and rest the case to the long term holders like us.

[sweatyfrominvesting]

To those who still planning on to dump their MNX, do it now and fill my buy orders at livecoin. I've been accumulating MNX through dips so it's a better choice to you to leave now and rest the case to the long term holders like us.

Amen to that.

[MineCoin.org]

From what I've read in the thread and telegram, minex and the implemented algo are interesting and I really like the ideas of Minexcoin and -Bank. However, 1) 5% a day is still quite big for a coin which aims to be somewhat a stable coin, 2) being an algo and interfering (only in emergency cases) in the markets - it sounds to me like a bet on human rationality, which is... well... you know. 3) Aiming for stability towards fiat instead of btc or the crypto top 10 in times when investments in crypto get somewhat shuffled, I personally see the possibility of huge fluctuations, it will be at least interesting to see how the price develops with that and your algo adjusts to it, keeping the 5% in mind. Apart from that, thumbs up for your progress so far. Permanent development, constant progress on the roadmap, I like the Minexbank app and lately lightning transactions with btc and ltc (which I very much miss just the mention of it from newer coins), I am looking forward to hear more and keep parking a few mnx. I would like to hear more about your plans for Q3 and Q4 especially for mining, but that is still 'far' away, so keep up the good work 

Thanks, will keep
Hope you wouldn't be disappointed.

[MineCoin.org]

Minexcoin Info:
Hashrate: 119.42 MSol/s Difficulty: 5.168060159974

MinexBank Rates:
Daily: 0.268% Weekly: 2.89% Monthly: 13.85% Yearly: 70.4% Quarterly: 23.7% Half yearly: 44.8%

Price of MNX: $12,98

[dllhg]

Sorry but I sold most of my position. Have been in to this coin since $10, watched it hit $70  and now its going back down to $10     Sad to see.  I have been actively parking and really loved this coin. Had over  2K coins at one point.  Their decision to suddenly drop rate from 14% down to 5% was a mistake. Of course this massive drop in price was going to happen.  Small changes like they have been making were  much better for the price of this coin.   Only reason for such a big change is because they saw it wasn't sustainable which I get.  They still should have dropped the rates slowly to get to their goal. Developers don't seem to have our best interests in mind and that is a red flag to me.    Hard to say how low this will go but I'm more or less out.  

Best of luck to you guys holding  

[MineCoin.org]

Sorry but I sold most of my position. Have been in to this coin since $10, watched it hit $70  and now its going back down to $10     Sad to see.  I have been actively parking and really loved this coin. Had over  2K coins at one point.  Their decision to suddenly drop rate from 14% down to 5% suddenly was a mistake. Of course this massive drop in price was going to happen.  Small changes like they have been making were  much better for the price of this coin.   Only reason for such a big change is because they saw it wasn't sustainable which I get.  They still should have dropped the rates slowly to get to their goal. Developers don;t seem to have our best interests in mind and that is a red flag to me.    Hard to say how low this will go but I'm more or less out.  

Best of luck to you guys holding  

Thanks for your opinion and for honesty.
Good luck to you!

[minexpuntcoin]

Sorry but I sold most of my position. Have been in to this coin since $10, watched it hit $70  and now its going back down to $10     Sad to see.  I have been actively parking and really loved this coin. Had over  2K coins at one point.  Their decision to suddenly drop rate from 14% down to 5% was a mistake. Of course this massive drop in price was going to happen.  Small changes like they have been making were  much better for the price of this coin.   Only reason for such a big change is because they saw it wasn't sustainable which I get.  They still should have dropped the rates slowly to get to their goal. Developers don't seem to have our best interests in mind and that is a red flag to me.    Hard to say how low this will go but I'm more or less out.  

Best of luck to you guys holding  

Well said.  They're whitepaper said 40% interest/year was the 2018 goal.  They changed that and the whole interest process blew up in their face.  I for one am actually hodling and accumulating, even tho i still think its ultimately a scam, bernie madoff went for 20 years, we can bang out a year and a half at least w MNX

[MineCoin.org]

Well said.  They're whitepaper said 40% interest/year was the 2018 goal.  They changed that and the whole interest process blew up in their face.  I for one am actually hodling and accumulating, even tho i still think its ultimately a scam, bernie madoff went for 20 years, we can bang out a year and a half at least w MNX

Please, don't start FUD here.

[Brilliantrocket]

I sent some MNX to Livecoin but they are still pending with 30 confirms so far, anyone facing this

[MineCoin.org]

I don't agree that any different opinion is a FUD.

There was a 40% growth, now it's what, 88%?

The real problem is what the White Paper announce:

Volatility is a Problem

Stability as an Answer

There are two factors that make MinexCoin unique:
— Low volatility of the coin (within a five-percent range) achieved autonomously with
traditional financial tools;
— Predictable and controllable annual growth of the coin’s price which correlates with
average annual price growth calculated for a portfolio of most popular altcoins (around
33.6 percent).

But (numbers taken a few hours ago):

BTC right now: 0.36%
MNX right now: -6.64%
   
BTC 3 months price: 10000 to 9300 (-7%)
MNX 3 months price: 20 to 15.7 (-21.5%)

BTC 6 month price: 6170 to 9300 (+51%)
MNX 6 month price: 1.44 to 15.7 (+990%)

As of right now:
* I can't see any low volatility achieved (even BTC does better)
* I don't see any volatility limitation to a five-percent range
* Growth: the price is decreasing every day for 1 month now - where is the bot?

Of course people will say: "it's a long run, just buy more and hodl".

Personaly, I invested since January, and the invested value has decreased by 50+%
Even mining and getting interests, I'm losing a lot - right now.

Again - I don't dream, Minexcoin promise "Volatility is a Problem, Stability as an Answer", this main goal is NOT achieved.
Please don't say I'm also FUDing, I did NOT sell anything, I'm a big fan at the contrary, but right now I'm deceived.

If i'm not wrong, this guy was FUDing a lot in russian thread, so it's not because of his opinion, but because of in which way and how often he posting it.

MNX needs full ecosystem released to get its maximum potential. For example, without some parts of our roadmap it can't be used as payment method. Implementation of roadmap will make great influence on MNX stability and will add more ways of using it in real life, not only as asset on exchange. Devs are working on it and you will see the result, all you need is patience.

[MineCoin.org]

I sent some MNX to Livecoin but they are still pending with 30 confirms so far, anyone facing this

Sure - some blocks take 15 to 30 minutes (instead of less than 3 minutes), see:
https://snag.gy/I1dOLu.jpg

100 blocks of confirmation can take like half a day.

The difficulty change is far far far too long.
In MinexCoin there is Mining; but miners get no help.

You can check blocks time here: https://minexexplorer.com/
As I can see, average time it's a few minutes. Please, don't spread false info.

[MineCoin.org]

I sent some MNX to Livecoin but they are still pending with 30 confirms so far, anyone facing this

You should ask livecoin support, maybe they will explain this situation.

[legendbtc]

Sorry but I sold most of my position. Have been in to this coin since $10, watched it hit $70  and now its going back down to $10     Sad to see.  I have been actively parking and really loved this coin. Had over  2K coins at one point.  Their decision to suddenly drop rate from 14% down to 5% suddenly was a mistake. Of course this massive drop in price was going to happen.  Small changes like they have been making were  much better for the price of this coin.   Only reason for such a big change is because they saw it wasn't sustainable which I get.  They still should have dropped the rates slowly to get to their goal. Developers don;t seem to have our best interests in mind and that is a red flag to me.    Hard to say how low this will go but I'm more or less out.  

Best of luck to you guys holding  

Thanks for your opinion and for honesty.
Good luck to you!

See each of us has different views about the MNX price, it is not quci scheme to make money and already they mentioned in WP about thr parking rates. They can control the flow of dumps they are decreasing the parking interest rates.