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Author Topic: Minexcoin - A new era of payments  (Read 643523 times)
MineCoin.org
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August 10, 2018, 02:19:20 PM
 #19461

I like the design of the gold card and infinite, looks simple and elegant. Anyway, has anyone received the card? And is there a review for those who have received the card? Thank you!

Currently KYC/AML/CFT checks are being processed. Cards will be issued after those and sent then.

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August 10, 2018, 02:37:07 PM
 #19462

cards will be send in September. And you will see a lot of reviews from people in chats and bloggers on the YouTube Wink

That is what we all are waiting for. To read reviews and hear about Minexcoin all over the media.

.
.Duelbits.
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memarx
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August 10, 2018, 02:57:28 PM
 #19463

wait why isn't international id card considered as a document?

Verifications  is processed by sum&substance they have the rules.
Please find them at http://sumsub.com/how-to-pass-verification.


this is taken from the rules

Quote
Step 2.
You can verify your identity with any official government document - ID-card, passport or driving license. After taking a photo of your document, please send us the pictures, using the form.

also this
https://static.tildacdn.com/tild3330-6138-4364-b833-626336313962/if-2.jpg

minexpay kyc does not include the option to choose the document you want to use, so my question remain unanswered.
MineCoin.org
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August 10, 2018, 03:00:20 PM
 #19464

minexpay kyc does not include the option to choose the document you want to use, so my question remain unanswered.

If you still experience any issues, please contact us at support@minexsystems.com and explain what the issue is.

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bcfkm
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August 10, 2018, 05:46:35 PM
Last edit: August 10, 2018, 06:00:08 PM by bcfkm
Merited by Anon11073 (1)
 #19465

Bit disappointed about the falling price of MNX. Many of the speculators sold off their holdings when the rate change was announced back in May. Now the real believers in the project are holding on to their coins and presumably accumulating interest. Soon we will be hitting the first quarter after May and I'm guessing there will be more dumping when interest comes in. The falling price will encourage the less confident to sell off and move on, lowering the price further. The remainder will take advantage of the cheap price to snap up coins cheap, with little competition so it's a buyer's market.  Only the cheap orders will be filled, lowering the price further encouraging more dumping at low prices.  Those buyers then hold on to their coins accumulating more interest. Every 3 to 4 months the cycle will repeat, although less severely each time.

Throughout all of this there is little competition for buying so no mechanism to drive the price up.

When 1000 or so card orders fully completed in September ship, the recipients will be those with fairly decent sized holdings and no immediate need to purchase more coins to fulfill the minimum reserve balance = no pressure for buying and no market force on the price.

As the card is proven to work more of the orders will be fully completed, but likely by those who are already invested but cautiously waiting to see others try first.  As these people complete their orders they will likely have the funds already to fulfill the minimum requirements (especially as the majority of pre-orders are standard or gold which have quite low MNX requirements).

Active users of the cards have no need to purchase MNX to continue using it. They can continue to accumulate interest and spend that for free.  Or possibly not spend at all.  After all, why spend when you can keep on accumulating?

Finally people new to the project will hear of the working cards and want to try.  There will be a small increase in buying as people need the small amount of MNX required to get a standard or gold card up and running.  But once they have it there is no need for MNX any more. They will simply top up the card with good old reliable bitcoin, the trusted go-to coin well known to them.

Will MNX then be a victim of its own strategy?  While it is a very attractive project for crypto holders to spend crypto via the VISA card, there is no pressure to use MNX in the process, other then acquiring the very small amount required to set the card up.

In short, I see no market force putting competition on buy orders.

In order to raise the value of MNX the team can do one of two things:

1) increase the interest rates which will encourage more buying, but this is not sustainable and will be undone as soon as rates are reverted.

2) force the purchasing of MNX through use of the card. Any topups of the card in bitcoin will first exchange the bitcoin for MNX at market rates, and then be exchanged to USD for purchasing of the ETF.

This will generate a steady competition on buy orders, maintain liquidity and volume, raising and holding the value of MNX
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August 10, 2018, 06:27:22 PM
Merited by Anon11073 (1)
 #19466

Moreover, simplifying the process of acquiring a card can be done so with a one-click bitcoin transaction. There is no need to involve instabuy, unfamiliar exchanges or unfamiliar MNX desktop or Web wallets in the process.

New adopters would be far more comfortable with an option to register and purchase their first card via a single bitcoin transaction, which you internally exchange to MNX and do all the necessaries. After all, when creating a minexpay account the user will assigned a MNX wallet anyway for transactions.

Later these same new adopters will learn of minexbank and instabuy, be more comfortable with MNX and more willing to invest the effort required to use.

So aside from forcing topups of the card to internally exchange to and from MNX (and help drive the market), simplifying the initial access to the project will help adoption.
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August 10, 2018, 06:30:11 PM
 #19467

Bit disappointed about the falling price of MNX. Many of the speculators sold off their holdings when the rate change was announced back in May. Now the real believers in the project are holding on to their coins and presumably accumulating interest. Soon we will be hitting the first quarter after May and I'm guessing there will be more dumping when interest comes in. The falling price will encourage the less confident to sell off and move on, lowering the price further. The remainder will take advantage of the cheap price to snap up coins cheap, with little competition so it's a buyer's market.  Only the cheap orders will be filled, lowering the price further encouraging more dumping at low prices.  Those buyers then hold on to their coins accumulating more interest. Every 3 to 4 months the cycle will repeat, although less severely each time.

Throughout all of this there is little competition for buying so no mechanism to drive the price up.

When 1000 or so card orders fully completed in September ship, the recipients will be those with fairly decent sized holdings and no immediate need to purchase more coins to fulfill the minimum reserve balance = no pressure for buying and no market force on the price.

As the card is proven to work more of the orders will be fully completed, but likely by those who are already invested but cautiously waiting to see others try first.  As these people complete their orders they will likely have the funds already to fulfill the minimum requirements (especially as the majority of pre-orders are standard or gold which have quite low MNX requirements).

Active users of the cards have no need to purchase MNX to continue using it. They can continue to accumulate interest and spend that for free.  Or possibly not spend at all.  After all, why spend when you can keep on accumulating?

Finally people new to the project will hear of the working cards and want to try.  There will be a small increase in buying as people need the small amount of MNX required to get a standard or gold card up and running.  But once they have it there is no need for MNX any more. They will simply top up the card with good old reliable bitcoin, the trusted go-to coin well known to them.

Will MNX then be a victim of its own strategy?  While it is a very attractive project for crypto holders to spend crypto via the VISA card, there is no pressure to use MNX in the process, other then acquiring the very small amount required to set the card up.

In short, I see no market force putting competition on buy orders.

In order to raise the value of MNX the team can do one of two things:

1) increase the interest rates which will encourage more buying, but this is not sustainable and will be undone as soon as rates are reverted.

2) force the purchasing of MNX through use of the card. Any topups of the card in bitcoin will first exchange the bitcoin for MNX at market rates, and then be exchanged to USD for purchasing of the ETF.

This will generate a steady competition on buy orders, maintain liquidity and volume, raising and holding the value of MNX


The time dira everything but it is a good project in times of bleeding.
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August 10, 2018, 08:15:51 PM
 #19468

Marketcap:
Bitconnect 6.571.875 USD
Minexcoin $22.815.761 USD

crazy  Grin
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August 10, 2018, 08:29:47 PM
 #19469

Let's make same fun. I want to see how people think.  Make prediction for mnx price on 30.09. Date before 3rd Memorandum.

A.  1-2$
B.  2-4$
C.  5-8$
D.  8$+

Also,  what you expect to see in 3rd Memorandum?

upcomingcarsreview.com
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August 10, 2018, 08:34:29 PM
 #19470

Let's make same fun. I want to see how people think.  Make prediction for mnx price on 30.09. Date before 3rd Memorandum.

A.  1-2$
B.  2-4$
C.  5-8$
D.  8$+

Also,  what you expect to see in 3rd Memorandum?

8$+
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August 10, 2018, 08:39:07 PM
 #19471

If I do not make a mistake, then the issue of cards should assume a relative stability of the exchange rate?






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Fabriz
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August 10, 2018, 08:45:34 PM
 #19472

If I do not make a mistake, then the issue of cards should assume a relative stability of the exchange rate?


the card will help to maintain the stability, but not the only
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August 10, 2018, 09:19:14 PM
 #19473

Let's make same fun. I want to see how people think.  Make prediction for mnx price on 30.09. Date before 3rd Memorandum.

A.  1-2$
B.  2-4$
C.  5-8$
D.  8$+

Also,  what you expect to see in 3rd Memorandum?

There depends that you want to do. That you prefer spending or guarding mnx?
rahmat86
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August 10, 2018, 11:39:48 PM
 #19474

Let's make same fun. I want to see how people think.  Make prediction for mnx price on 30.09. Date before 3rd Memorandum.

A.  1-2$
B.  2-4$
C.  5-8$
D.  8$+

Also,  what you expect to see in 3rd Memorandum?

i think price will dump to 2-4$, bitcoin still trend down for now. so i waiting for MNX 2-4$
keep calm to more buy MNX
do you have plan to add more exchange ?

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August 11, 2018, 04:10:08 AM
Last edit: August 11, 2018, 04:26:13 AM by bcfkm
Merited by hopenotlate (1)
 #19475

Random guessing on the future price is not productive.

Unsupported statements such as "the cards will help the price" are equally as unproductive.

See my post a page back where I justify my prediction with some reasonings. I fully understand that my reasonings may be flawed, and would really appreciate a long discussion with many of you about why you analyse the situation differently.

To help this project, secure our investments and enable us to offer constructive suggestions to the Minex team, let's debate our predictions, with supporting reasoning and help to think of some mechanisms to encourage market liquidity and volume.

The minex team may well reject the ideas with their own conflicting analysis... Which would also be great... It means we have explored multiple strategies with them and they've chosen the strongest.

There's really no need for any more "this project has great potential!" one-liners. We don't need so many 'we're so great' self congratulations. Minor delays aside, the Minex team are doing a great job and we all know it. Perhaps some targets were ambitious and everyone learned from that. We are all pleased with their dedication and reporting. Enough on that.

If you refer back to my long post a page back... I've concluded that the strategies that gave this project such a great kick-start and now starting to hinder it severely... To the point where this same strategies may suck enough liquidity out of the market to crash it irreversibly.

Does anyone have an alternative analysis they would care to share?
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August 11, 2018, 04:53:58 AM
 #19476

Quote
the card will help to maintain the stability, but not the only

can you explain why you think so?

A quick look at MinexExplorer will show you that only ~600 wallets hold more than 500 coins.  You only need to have 250 coins to make the top 1000.

Only ~900 people have completed card orders and only 53% of these have started the KYC process with just 42% completing it.

We have a relatively low number of people holding and hoarding... with an equally low number of people dumping when parking matures.  Due to the size of the sell orders being dumped at once, we get very short volume spikes.

The card will not make any sudden impact on the market as they do not demand more buying.  In the worst case scenario... if enthusiasm for the cards does not rapidly and suddenly surge... usage of the few cards in circulation will only generate more selling = price falling further.
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August 11, 2018, 05:06:26 AM
 #19477

Let's make same fun. I want to see how people think.  Make prediction for mnx price on 30.09. Date before 3rd Memorandum.

A.  1-2$
B.  2-4$
C.  5-8$
D.  8$+

Also,  what you expect to see in 3rd Memorandum?

I choose the answer D.
If Visa cards are successfully completed and visa application for Minexcoin platform is fully done, I think we can see new price above 20$ or more even bitcoin price is being down at that time .
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August 11, 2018, 05:13:47 AM
 #19478

Let's make same fun. I want to see how people think.  Make prediction for mnx price on 30.09. Date before 3rd Memorandum.

A.  1-2$
B.  2-4$
C.  5-8$
D.  8$+

Also,  what you expect to see in 3rd Memorandum?
I hope they increase the parking rate at minexbank so the price goes up because the second memorandum is far from the desired price so I choose the answer D even exceeds $10+


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New Age of DEFI
A Non-Code Platform for
Decentralized Trading Instruments

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bcfkm
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August 11, 2018, 05:20:24 AM
 #19479

I hope they increase the parking rate at minexbank so the price goes up because the second memorandum is far from the desired price so I choose the answer D even exceeds $10+

The parking rates were much higher before... around 15% a month... to kick start the project.

Even the current rates are remarkably high and not sustainable long-term.

A rates increase will be no good for anything other than a short term spike and subsequent crash.  The interest has to come from somewhere.  Who will pay for it?


bozicso
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August 11, 2018, 05:34:26 AM
 #19480

Random guessing on the future price is not productive.

Unsupported statements such as "the cards will help the price" are equally as unproductive.

See my post a page back where I justify my prediction with some reasonings. I fully understand that my reasonings may be flawed, and would really appreciate a long discussion with many of you about why you analyse the situation differently.

To help this project, secure our investments and enable us to offer constructive suggestions to the Minex team, let's debate our predictions, with supporting reasoning and help to think of some mechanisms to encourage market liquidity and volume.

The minex team may well reject the ideas with their own conflicting analysis... Which would also be great... It means we have explored multiple strategies with them and they've chosen the strongest.

There's really no need for any more "this project has great potential!" one-liners. We don't need so many 'we're so great' self congratulations. Minor delays aside, the Minex team are doing a great job and we all know it. Perhaps some targets were ambitious and everyone learned from that. We are all pleased with their dedication and reporting. Enough on that.

If you refer back to my long post a page back... I've concluded that the strategies that gave this project such a great kick-start and now starting to hinder it severely... To the point where this same strategies may suck enough liquidity out of the market to crash it irreversibly.

Does anyone have an alternative analysis they would care to share?

Thinking in the right way. Unfortunately, I was tired of talking about mistakes. MNX does not want to listen, they always do their own thing and continue to sin.

In December 2017, I wrote on their telegram that the ice age for the crypt was coming. Everyone laughed and wrote that I was crazy. What's happening right now? We're going to my $ 4400. 90% of the coin will die, be abandoned.

only those with a serious project will survive. if they do not return the trust of the community it will not be good, there is not much time for this

quarter parking will go through the cards, btc comes to the price of profitability, mnx does not have instruments for increasing demand, so I asked for a price, to see how many people think with their heads and how much they live in dreams

Btw my vote less then 2$

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