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Author Topic: Minexcoin - A new era of payments  (Read 636871 times)
fabcl
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September 12, 2018, 05:07:32 PM
 #20241

To take 80k buying pressure away from market is clear price manipulation!
It's not OK, that such things can happen!

Cryptos are not regulated...
Maybe you should consider classical stock markets.
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September 12, 2018, 05:30:39 PM
 #20242

To take 80k buying pressure away from market is clear price manipulation!
It's not OK, that such things can happen!

Cryptos are not regulated...
Maybe you should consider classical stock markets.
I do not think that the main problem is that the crypto market is not regulated. But the problem is with very low volume, so it is pretty easy to manipulate with the market.

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September 12, 2018, 05:38:10 PM
 #20243

--



not need to be to much smart to expect price dump due to a lot 90 days parking end in middle September. Now they have money and wait to price stop drop. If price reach 1$ we should expect MNX to that coins use to clean all orders on exchanges. Yes, it is manipulation, but current market situation ask smart move

How do you know that many parkings stand out in the middle of September? Why is not a beginning of October?
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September 12, 2018, 05:44:11 PM
Last edit: September 12, 2018, 06:19:48 PM by Hippocrypto
 #20244

To take 80k buying pressure away from market is clear price manipulation!
It's not OK, that such things can happen!

Cryptos are not regulated...
Maybe you should consider classical stock markets.
I do not think that the main problem is that the crypto market is not regulated. But the problem is with very low volume, so it is pretty easy to manipulate with the market.


high volume or not still there are manipulations, tell me what high volume coin cannot be manipulated?. lol Its an open market so anybody can play the price they want if they own the GOLDs. Good thing about this project is they dont focus more on the price but rather with the development which is the right thing to do for a real project. Increase in price is useless without a working product.

And FUD, yes, they are essentials to the ones accumulating in shadows and will enjoy the real profit in the future.  Wink Wink


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September 12, 2018, 05:51:14 PM
 #20245

--



not need to be to much smart to expect price dump due to a lot 90 days parking end in middle September. Now they have money and wait to price stop drop. If price reach 1$ we should expect MNX to that coins use to clean all orders on exchanges. Yes, it is manipulation, but current market situation ask smart move

How do you know that many parkings stand out in the middle of September? Why is not a beginning of October?
because most people start at 10.06. after % reach maximum percent and algo direct us to use 90 days parking
remember first % decrease was 10.05. and 30 days after that people start 90 days parking with 27-8% to catch good % because expect % drop after Exmo and Hitbtc listing  Roll Eyes
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September 12, 2018, 07:21:27 PM
 #20246

Cards will never be sent. I guarantee it.


nice try but YOu need to support it with appearing real statements or a play of words for the effectiveness of the fud kiddy.  Grin Grin

It does not matter if the cards are sent out. They are just useless. If you use the card Coins are sold and you get fiat. You can sell your coins yourself to get fiat. You dont need to do this at the moment you buy something with you credit card. The money just have to be on you bank account at the end of the month.

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September 12, 2018, 07:38:54 PM
 #20247

As mentioned in my earlier post, the release of the visa cards will not have a significant effect on the price of MNX.

The timing of their release is (I think unintentionally) going to coincide with the tail end of the first round of quarterly parkings. This will be fun to see... The natural market correction as sell pressure is reduced will cause the price to rise a little, and people will very incorrectly attribute this to the release of the visa cards. When the price dips again soon after there will be much alarm and I bet a weeks worth of posts claiming the project has failed.

Those people, myself included, who are excited about these cards and keen early adopters will no doubt already have sufficient holdings of MNX to fulfill the cards' minimum balance requirements. I would bet further that most of the 1000 odd people already fully signed up, ready to go, are holding back that reserve of minex from their long term parkings.

In short, most of the people who are ready to go already have the MNX required. We don't need to buy any more MNX when we get the card.

The next group of card users will be those already in knowledge of what's going on, already expressing interest and enthusiasm on the forums... Already holding decent amounts of MNX waiting to pull the trigger. These people also won't need to buy any significant amount to get up and running.

Now let's think about the spending action of the cards...

After users have dropped on a bit of MNX to price it works and we are all up and running... We want to spend some of our hard earned crypto right?

Well... The go-to coin for anything cross exchange is BTC. Everyone knows it and is familiar with it and has had to use it in some form.

If I want to flip any of my crypto holdings on to the card balance, I will use BTC directly. And so will anyone else. Why would I bother to FX it again in to MNX, pay trabsfer and exchange fees to do so, and hold a balance in a coin which is performing poorly (right now, see my earlier post). It would make far more sense to drop BTC straight on to the card instead.

The % incentive of charging and spending in mnx compared to btc is simply not enough right now to counter the (artificially) poor performing mnx and overheads required to do so. One day it will be, but right now it's certainly not.

So we won't have the big surge in buy volume required to raise a market price. Not yet.

An argument often put forward in previous discussions is that more people will learn of the cards, want to get involved, will require MNX to do so. But I don't think it will be so much. The requirements of a regular (blue) or gold card are not so significant in value.

And not everyone in the crypto community (which is still in its entirely a very small and niche market) will jump on board. Those that do will not be all at once. It will be naturally distributed over time... Which is exactly the behaviour we need on the sell side also but don't have.

So we will have a bit of a stabilising force which will be good. But it won't be a big enough force to drive the market. First we need to wait for the artificial mechanisms mentioned in my first post to dwindle and stop taking effect. The cards will help to reduce the decline, but not counter it.

Thank you for sharing your point of view and explanation.

I agree with you but not fully. You think that cards will be something which will help but I am not so sure. There are already other projects with working cards (Investa) and they just finished ICO. I assume that in the near future there will be no problem for any project to issue a card. That is why this will be so common that add no value to the project.
Would be great to see such a post from the Minexcoin team member.

I will ask what is your opinion about this broken algorithm?

I am very angry because when ICO was ongoing I found a review where a Youtuber broke this algorithm in the pieces and proved that this is pure bullshit and doesn't work at all. When I posted about this on Telegram a shitstorm started. They banned me and try to scare that they will not pay my bounty if I continue to spread FUD because the algorithm is good and working. Today we all know that this was a real bullshit.

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September 12, 2018, 07:52:38 PM
 #20248

It does not matter if the cards are sent out. They are just useless. If you use the card Coins are sold and you get fiat. You can sell your coins yourself to get fiat. You dont need to do this at the moment you buy something with you credit card. The money just have to be on you bank account at the end of the month.

Its not that easy in every country in the world to transfer crypto to fiat. If I have BTC ATM in my country where I could withdraw as much money as I want there wouldn't be any need for cards!

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September 12, 2018, 09:45:13 PM
 #20249

--



not need to be to much smart to expect price dump due to a lot 90 days parking end in middle September. Now they have money and wait to price stop drop. If price reach 1$ we should expect MNX to that coins use to clean all orders on exchanges. Yes, it is manipulation, but current market situation ask smart move

How do you know that many parkings stand out in the middle of September? Why is not a beginning of October?
because most people start at 10.06. after % reach maximum percent and algo direct us to use 90 days parking
remember first % decrease was 10.05. and 30 days after that people start 90 days parking with 27-8% to catch good % because expect % drop after Exmo and Hitbtc listing  Roll Eyes

My monthly parking started at 05.05, I did not cancel it because of the new one parking rate. After that, I am parked monthly again even if there new rate.
Whatever, there is no strict rule, It's more individual and I do not think it can drastically affect the price this way
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September 12, 2018, 09:48:56 PM
Merited by naska21 (1)
 #20250

Cards will never be sent. I guarantee it.


nice try but YOu need to support it with appearing real statements or a play of words for the effectiveness of the fud kiddy.  Grin Grin

It does not matter if the cards are sent out. They are just useless. If you use the card Coins are sold and you get fiat. You can sell your coins yourself to get fiat. You dont need to do this at the moment you buy something with you credit card. The money just have to be on you bank account at the end of the month.

Yes, you can send coins to exchange, trade for btc, trade btc for money, withdraw money, wait few days the money come to your bank, withdraw them with your bank card

or.....

you can send mnx to minexpay, withdraw them with crypto card or pay for something...... profit

The choice is yours
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September 13, 2018, 05:25:35 AM
 #20251

--



not need to be to much smart to expect price dump due to a lot 90 days parking end in middle September. Now they have money and wait to price stop drop. If price reach 1$ we should expect MNX to that coins use to clean all orders on exchanges. Yes, it is manipulation, but current market situation ask smart move

How do you know that many parkings stand out in the middle of September? Why is not a beginning of October?
because most people start at 10.06. after % reach maximum percent and algo direct us to use 90 days parking
remember first % decrease was 10.05. and 30 days after that people start 90 days parking with 27-8% to catch good % because expect % drop after Exmo and Hitbtc listing  Roll Eyes

My monthly parking started at 05.05, I did not cancel it because of the new one parking rate. After that, I am parked monthly again even if there new rate.
Whatever, there is no strict rule, It's more individual and I do not think it can drastically affect the price this way

Its very simple to check, just look at bank balance. There is just 700.000 mnx, prety sure a lot interest pay this days. Its not normal to sell with this price but here stille exist moron who sell. I swear people hate money
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September 13, 2018, 12:43:56 PM
 #20252

--



not need to be to much smart to expect price dump due to a lot 90 days parking end in middle September. Now they have money and wait to price stop drop. If price reach 1$ we should expect MNX to that coins use to clean all orders on exchanges. Yes, it is manipulation, but current market situation ask smart move

How do you know that many parkings stand out in the middle of September? Why is not a beginning of October?
because most people start at 10.06. after % reach maximum percent and algo direct us to use 90 days parking
remember first % decrease was 10.05. and 30 days after that people start 90 days parking with 27-8% to catch good % because expect % drop after Exmo and Hitbtc listing  Roll Eyes

My monthly parking started at 05.05, I did not cancel it because of the new one parking rate. After that, I am parked monthly again even if there new rate.
Whatever, there is no strict rule, It's more individual and I do not think it can drastically affect the price this way

Its very simple to check, just look at bank balance. There is just 700.000 mnx, prety sure a lot interest pay this days. Its not normal to sell with this price but here stille exist moron who sell. I swear people hate money

The reason everyone is selling is bc when the next bull run happens in crypto, MNX will no longer exist

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September 13, 2018, 12:51:06 PM
 #20253

--



not need to be to much smart to expect price dump due to a lot 90 days parking end in middle September. Now they have money and wait to price stop drop. If price reach 1$ we should expect MNX to that coins use to clean all orders on exchanges. Yes, it is manipulation, but current market situation ask smart move

How do you know that many parkings stand out in the middle of September? Why is not a beginning of October?
because most people start at 10.06. after % reach maximum percent and algo direct us to use 90 days parking
remember first % decrease was 10.05. and 30 days after that people start 90 days parking with 27-8% to catch good % because expect % drop after Exmo and Hitbtc listing  Roll Eyes

My monthly parking started at 05.05, I did not cancel it because of the new one parking rate. After that, I am parked monthly again even if there new rate.
Whatever, there is no strict rule, It's more individual and I do not think it can drastically affect the price this way

Its very simple to check, just look at bank balance. There is just 700.000 mnx, prety sure a lot interest pay this days. Its not normal to sell with this price but here stille exist moron who sell. I swear people hate money

The reason everyone is selling is bc when the next bull run happens in crypto, MNX will no longer exist
Any proofs about that? Every one know that you don't have them because you are just a paid FUDer from another card project.

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September 13, 2018, 03:05:50 PM
 #20254


The reason everyone is selling is bc when the next bull run happens in crypto, MNX will no longer exist

this contradicts both the expansion of richlist and increase of the funds in its addresses  Tongue
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September 13, 2018, 03:21:24 PM
 #20255


The reason everyone is selling is bc when the next bull run happens in crypto, MNX will no longer exist

this contradicts both the expansion of richlist and increase of the funds in its addresses  Tongue


But when Minexcoin continues in the next bull run, minexpuntcoin will no longer exist. lol ..  Grin Cheesy Cheesy

He's just making a fud maybe to acquire more cheap minexcoin. Thanks to these trolls for continues fud, without them we cant have cheaper minexcoin.  Wink

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September 13, 2018, 03:23:58 PM
 #20256


I understand and agree that users have the right to question the project and actions of the team, but it is very strange to me that some of these questioners are users created after the announcement of Minexcoin, and only have posts on this topic ... Roll Eyes Roll Eyes Roll Eyes Roll Eyes Wink Wink

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September 13, 2018, 06:37:11 PM
 #20257

As mentioned in my earlier post, the release of the visa cards will not have a significant effect on the price of MNX.

The timing of their release is (I think unintentionally) going to coincide with the tail end of the first round of quarterly parkings. This will be fun to see... The natural market correction as sell pressure is reduced will cause the price to rise a little, and people will very incorrectly attribute this to the release of the visa cards. When the price dips again soon after there will be much alarm and I bet a weeks worth of posts claiming the project has failed.

Those people, myself included, who are excited about these cards and keen early adopters will no doubt already have sufficient holdings of MNX to fulfill the cards' minimum balance requirements. I would bet further that most of the 1000 odd people already fully signed up, ready to go, are holding back that reserve of minex from their long term parkings.

In short, most of the people who are ready to go already have the MNX required. We don't need to buy any more MNX when we get the card.

The next group of card users will be those already in knowledge of what's going on, already expressing interest and enthusiasm on the forums... Already holding decent amounts of MNX waiting to pull the trigger. These people also won't need to buy any significant amount to get up and running.

Now let's think about the spending action of the cards...

After users have dropped on a bit of MNX to price it works and we are all up and running... We want to spend some of our hard earned crypto right?

Well... The go-to coin for anything cross exchange is BTC. Everyone knows it and is familiar with it and has had to use it in some form.

If I want to flip any of my crypto holdings on to the card balance, I will use BTC directly. And so will anyone else. Why would I bother to FX it again in to MNX, pay trabsfer and exchange fees to do so, and hold a balance in a coin which is performing poorly (right now, see my earlier post). It would make far more sense to drop BTC straight on to the card instead.

The % incentive of charging and spending in mnx compared to btc is simply not enough right now to counter the (artificially) poor performing mnx and overheads required to do so. One day it will be, but right now it's certainly not.

So we won't have the big surge in buy volume required to raise a market price. Not yet.

An argument often put forward in previous discussions is that more people will learn of the cards, want to get involved, will require MNX to do so. But I don't think it will be so much. The requirements of a regular (blue) or gold card are not so significant in value.

And not everyone in the crypto community (which is still in its entirely a very small and niche market) will jump on board. Those that do will not be all at once. It will be naturally distributed over time... Which is exactly the behaviour we need on the sell side also but don't have.

So we will have a bit of a stabilising force which will be good. But it won't be a big enough force to drive the market. First we need to wait for the artificial mechanisms mentioned in my first post to dwindle and stop taking effect. The cards will help to reduce the decline, but not counter it.

Thank you for sharing your point of view and explanation.

I agree with you but not fully. You think that cards will be something which will help but I am not so sure. There are already other projects with working cards (Investa) and they just finished ICO. I assume that in the near future there will be no problem for any project to issue a card. That is why this will be so common that add no value to the project.
Would be great to see such a post from the Minexcoin team member.

I will ask what is your opinion about this broken algorithm?

I am very angry because when ICO was ongoing I found a review where a Youtuber broke this algorithm in the pieces and proved that this is pure bullshit and doesn't work at all. When I posted about this on Telegram a shitstorm started. They banned me and try to scare that they will not pay my bounty if I continue to spread FUD because the algorithm is good and working. Today we all know that this was a real bullshit.

There never was an alogrithim and there never will be one, this was always a scam coin and will continue to be as long as they can survive. Funny how they have removed the original white paper from their website and claim to be updating it.
drmasa
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September 13, 2018, 11:17:57 PM
 #20258

this contradicts both the expansion of richlist and increase of the funds in its addresses  Tongue
I know a guy who have 2500+ mxn, he was mining from beginning. He is still parking his coins but he is on verge to kill himself! We can't expect great performances of mnx on next bull run cos its "stable" coin!

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September 14, 2018, 01:30:54 AM
 #20259

    • The next memorandum (and the subsequent decrease in the MinexBank parking rates) will be made with the launch of cards.
    I hope that the Minexcoin team learned from the last time they quickly and drastically changed the parking rates.  That last change triggered the start of the rapid decline in value.  My suggestion would be for all parking rate changes to be made slowly over time and with more transparency.  That is how interest rate changes are made in normal financial markets.  I understand that the parking rate is at the maximum now.  What are the current price targets for the parking rate calculation?  What is the timeline for further decreases?  What is the long term plan for parking rates?  I think this info should be made available or displayed in Minexbank.  Making parking rate announcements in a memorandum makes it look like the team is only reacting to the current situation which is what the algorithm was originally intended to do.  Sticking to a transparent plan would bring more confidence to the project.  We need more confidence right now.  Looking forward to receiving my card!
    amdfxman1701
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    September 14, 2018, 04:55:38 AM
     #20260

      • The next memorandum (and the subsequent decrease in the MinexBank parking rates) will be made with the launch of cards.
      I hope that the Minexcoin team learned from the last time they quickly and drastically changed the parking rates.  That last change triggered the start of the rapid decline in value.  My suggestion would be for all parking rate changes to be made slowly over time and with more transparency.  That is how interest rate changes are made in normal financial markets.

      I agree with this. Even now I think the parking rates are too high. Just lower them to reasonable levels slowly and you'll watch the price at least stabilize. At this point, people are dumping their interest immediately, which is causing a price decline because there aren't enough buyers to keep up with the supply. [/list]

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