Minexcoin - A new era of payments

[mmedinas]

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 ...

[YuSK]

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]

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

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!

[bitbat45]

• 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]

• 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]

[onebtcforlife]

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  

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

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.  

Exactly, he keeps trolling Minexcoin from the beginning and most of the people are not listening to him, maybe few panic people will bother much about his words. It is very good to buy cheap coins in the market and we can start parking them for the long term.

[tomsmith26]

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  

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

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.  

Exactly, he keeps trolling Minexcoin from the beginning and most of the people are not listening to him, maybe few panic people will bother much about his words. It is very good to buy cheap coins in the market and we can start parking them for the long term.

yes, This guy @minexpuntcoin disturbed us so much . Perhaps he as rent to cause suspicion and panic for all investors and some weak-hand investors have quited this project due to this rumor . However this panic has been stopped and the buying orders are gradually increasing . This is good chance for  investors who believe in minexcoin to get cheap coins for parking .

[BitPotus]

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

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!

am guessing you are "that guy"....

ps: don't off yourself please. You will be missing the face melting pumps of the next bull market....whenever that happens....

 

[rahmat86]

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

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!

am guessing you are "that guy"....

ps: don't off yourself please. You will be missing the face melting pumps of the next bull market....whenever that happens....

 

2500+ MNX very big holder, but if you sell at price high 50$ can be rich people, and now price just 2$. this people make wrong plan to minning and still parking. we all know people collect bitcoin to sell high price

[mr.pacy.mf]

--

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  

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.

proof? enough proof is your profile picture ... and same picture of  other cheaters here
wtf is this??/ minex bank advertises republia  ....   "Republia reduces crypto volatility with it s unique parking system"...  WTF  about which reduction we are talking about

http://prntscr.com/kudlcf

Boris's son started project  with same scam things park sistem low volatility ...
because there is not enough money taken from people with minex coin scam ....fake algo and smilar things
The scam was successfully on minex coin ... now they are trying the second time with almost the same story

[YuSK]

--

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  

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.

proof? enough proof is your profile picture ... and same picture of  other cheaters here
wtf is this??/ minex bank advertises republia  ....   "Republia reduces crypto volatility with it s unique parking system"...  WTF  about which reduction we are talking about

http://prntscr.com/kudlcf

Boris's son started project  with same scam things park sistem low volatility ...
because there is not enough money taken from people with minex coin scam ....fake algo and smilar things
The scam was successfully on minex coin ... now they are trying the second time with almost the same story

Fraud must run in the family. All these people with Republia ad on their posts are part of the scam.

[mr.pacy.mf]

--

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  

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.

proof? enough proof is your profile picture ... and same picture of  other cheaters here
wtf is this??/ minex bank advertises republia  ....   "Republia reduces crypto volatility with it s unique parking system"...  WTF  about which reduction we are talking about

http://prntscr.com/kudlcf

Boris's son started project  with same scam things park sistem low volatility ...
because there is not enough money taken from people with minex coin scam ....fake algo and smilar things
The scam was successfully on minex coin ... now they are trying the second time with almost the same story

Fraud must run in the family. All these people with Republia ad on their posts are part of the scam.

true story bro

[TeMHuK]

--

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  

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.

proof? enough proof is your profile picture ... and same picture of  other cheaters here
wtf is this??/ minex bank advertises republia  ....   "Republia reduces crypto volatility with it s unique parking system"...  WTF  about which reduction we are talking about

http://prntscr.com/kudlcf

Boris's son started project  with same scam things park sistem low volatility ...
because there is not enough money taken from people with minex coin scam ....fake algo and smilar things
The scam was successfully on minex coin ... now they are trying the second time with almost the same story

Fraud must run in the family. All these people with Republia ad on their posts are part of the scam.

true story bro

are you talking with yourself from different accounts?    show any proofs at first. somekind screenshot from fake account is not a proof. Minexsystem does not have account named Minexbank in Telegram chat.

[Bgbolahan]

Am sure all these fud will fly away once shipping start and tracking code is given

[Danimore]

Don't make argument with him . He was rented to release some bad FUDs to get money from another hiden person and he has got some bitcointalk accounts to  make suspicious posts to all of Minexcoin holders and investors . I think that MNX will increase strongly after the cards are delivered to all customer and I expect this delivering will be completed soon in October.

[YuSK]

Nobody would pay someone to spread FUD on Minex, they have done enough to destroy themselves so there is no need.

I only see paid shills here to try to make it sound like everything will be fine IF they ever send the cards

Any one dumb enough to invest in Boris son's new Ukranian scam coin deserves to lose all their money.

[TeMHuK]

Nobody would pay someone to spread FUD on Minex, they have done enough to destroy themselves so there is no need.

I only see paid shills here to try to make it sound like everything will be fine IF they ever send the cards

Any one dumb enough to invest in Boris son's new Ukranian scam coin deserves to lose all their money.

I'll be so happy when you will be out from your FUDer job because MNX will release their cards and your coin will be 1 satoshi worth.  

[YuSK]

Nobody would pay someone to spread FUD on Minex, they have done enough to destroy themselves so there is no need.

I only see paid shills here to try to make it sound like everything will be fine IF they ever send the cards

Any one dumb enough to invest in Boris son's new Ukranian scam coin deserves to lose all their money.

I'll be so happy when you will be out from your FUDer job because MNX will release their cards and your coin will be 1 satoshi worth.  

HAHAHA, you are a paid Shill of Boris, is it Boris or his son that you have a hard on for? or both?

[mr.pacy.mf]

Nobody would pay someone to spread FUD on Minex, they have done enough to destroy themselves so there is no need.

I only see paid shills here to try to make it sound like everything will be fine IF they ever send the cards

Any one dumb enough to invest in Boris son's new Ukranian scam coin deserves to lose all their money.

I'll be so happy when you will be out from your FUDer job because MNX will release their cards and your coin will be 1 satoshi worth.  

when Temhuk eats a banana an amazing transformation occurs. Temhuk is RepubliaMan LOL

[drmasa]

am guessing you are "that guy"....

lucky i am really not that guy. He is my neighbor/friend and I don't think he will sell it now. He is mining other coins now, but parking mnx, so don't have expenses and need for sell.