[ANN] mcxNOW.com : Deposit. Earn Interest. Trade.

[bidji29]

How do you know total LTC deposited?

I have my source ---> math .  You only need some calcul to get the total coin deposited.
It's now 65 000 k LTC deposited.
and 350BTC volume / 24 hours

And RealSanta confirmed my results too.

[albitos]

No other exchange pays interest.
No one (that i know of) has ever lost a coin from exchange failure.
Why use any other exchange?

Maybe because we don't actually know who realsolid is? Look at their contact page, compare it with any other big exchanges. I will believe in mcxnow when there will be some public company founded behind it.

[culexevilman]

great site,

[comal]

great site,

100% agreed

[vipah]

Despite the usual FUD, site is as advertised.  As usual, trade responsibly.

[DyslexicZombei]

       FTCdriller  doesn't usually like things without ftc in it.  MCXNOW is LEGIT!  i got my first interest payment on my LITECOIN balance today!  


              GOOD BYE BTCE YOU HUNK OF JUNK.

Thought I'd try this out for fun.

No joke: At this particular moment, I'm already seeing a ~50% return in less then a day due to interest & share price growth from my 5BTC deposit (with 13 shares bought). I have no idea how long you can keep that up with those fees as an exchange but that's phenomenal.

Caveat emptor and all that but it's an interesting experiment for me as I've never owned most of the alt. cryptocurrencies there.
BTW, I'm not anyone's sock puppet.   I rarely come to this sub-forum but I'm a regular at the Custom Hardware & Group Buys forums - where I offer Group Buy Escrow Coordination services and vetted Miner Host services at 2.5% for 28nm chips - and yesterday was the first time I had ever heard of mcxNOW.

[TheSwede75]

The revenue shares now value mcxnow to 60000 BTC, bubbles are fun!

[laughingbear]

No other exchange pays interest.
No one (that i know of) has ever lost a coin from exchange failure.
Why use any other exchange?

Maybe because we don't actually know who realsolid is? Look at their contact page, compare it with any other big exchanges. I will believe in mcxnow when there will be some public company founded behind it.

kind of like the biggest alt exchange btc-e, whats his name again?

[STT]

The revenue shares now value mcxnow to 60000 BTC, bubbles are fun!

60k btc is alot of money, how many shares are there again

100k shares would make company market cap of 48k btc or $6.67m

How are you trying to find the current market value of these shares. I have a feeling they are absurdly over priced.

Alot of shares are over valued nearterm.  The estimate of growth is what makes them appear expensive.  So I dont know if thats justified.

Lets say this is the annual turnover

So from my calculations it will take 2.5million BTC in trade value to return 0.1 btc.

2.5 million x 0.004 in trade fees = 10000 btc x 0.00001 per share = 0.1 btc.

Thats 6849 BTC processed a day or equal trade in other coins.    It would value the company about 4.8 PE which is quite reasonable so can they realise that amount of trade.
Also there is the issue of costs, all shares are equal but it would be unusual for an owner of the majority to just cover out of pocket

mcxNOW has begun redistributing 25% of all profits directly to its users

So this is a cost.  Its then 7500 BTC between owners and its still ignoring other company costs. So thats 6.4 PE projected and if the above figure was right its about double that now 13 PE isnt a bubble quite yet

Code:

528 people online

8839 accounts 

  +24hr

513 people online

9023 accounts

[claycoins]

If you look at last 24hr volume on coin trades is about 700 btc. There is another approx 800 in the fee shares but I don't know if fees are charged on this.  Either way there would need to be a lot of growth to justify price.

[Galimore]

If you look at last 24hr volume on coin trades is about 700 btc. There is another approx 800 in the fee shares but I don't know if fees are charged on this.  Either way there would need to be a lot of growth to justify price.

Still not even close to justifying the price. The volume is abnormally large due to the fee share IPO trading but I'll be extremely generous and say the site averages 2k btc/day in volume (it doesn't).

2000 BTC * 0.004 (fees) / 100k shares = 0.00008 BTC/day per share.

At the current price of ~0.5 you're looking at 17+ years to make back that money. If you're super optimistic and think the sites volume is going up 1000% in the next year or two you'd still be in in the neighborhood of 2 years. Right now the only value these shares have is the money they're returning, there's absolutely no way of knowing what the price will be whenever you try and sell them months/years down the road. Don't buy a two-day old share in a smaller exchange in an extremely volatile market as an investment thinking the fee returns are just a "bonus". I bought in they day came out and sold shortly after for a small profit because I felt it was a huge bubble at 0.3.

Edit: Don't take this to mean that I don't like the site because I do enjoy it. The layout is nice, the shares are a cool idea, and earning interest is great. The shares were reasonable around 0.1 for the IPO if you believed in the growth of the site, but at this price you'd need 10x+ the current volume to justify it.

[smoothie]

All balances earn interest
mcxNOW has begun redistributing 25% of all profits directly to its users. If you hold a balance on mcxNOW, you automatically earn interest.  Interest is proportional and dividends are posted every 6 hours.

Not that I'm saying it is a ponzi, but many ponzis try to accomplish the same thing: Keep your money with us.

Would not surprise me that this recent (initial) spike in share prices will be met with a huge dump.

Short lived glory for people holding these shares.

Time will tell.

[smoothie]

Yeah mcxNOW has rocketed up to becoming the #2 litecoin exchange now, hopefully it can take the #1 spot soon once people realize the benefits over other exchanges.
http://www.cryptocoincharts.info/#jump-ltc-btc

A few updates and fixes coming tomorrow.

1) Clicking nick in chat focuses the text box
2) Added price to account logs
3) Now show confirmations on the incoming transactions
4) Added white border around QRcode to help scanning google auth

Also in regards to new coins I am looking at adding the most popular ones, so most of what BTC-e carry will most likely be added once I have checked the c++ source code of these nodes in question.

Thanks!

Gaining the #2 spot for a day or few does not constitute it being #2 exchange.

[smoothie]

Just as a side note...

Anytime an exchange has control over the orderbook, price, volume, and display of charts of its "stock price" be sure that manipulation can occur.

Perhaps I missed something and the data is stored in a 3rd party site like litecoinglobal?

 

[smoothie]

If you have anymore questions

I've a question.

Why does an exchange want a greater level of funds deposited there (i.e., to where it even pays interest on those deposits)?

If the exchange holds all deposits (i.e., is a "full reserve"), there's really no advantage to the exchange to have more there.

If instead these are lent out or used for other purposes, then there is the risk of a 'bank run", no?

This is why I questioned the motivation for "keep your money with us" type of approach.

[btbrae]

Still a huge shortage of established companies for small investors to have BTC holdings in easily and that don't look like scams. Oh and aren't mining companies. MCXNow is filling the vacuum hence the interest, and the price. 1000% volume increase in a year is not all that super-optimistic in the world of bitcoin and innovation is nearly always the best model to follow when investing. Do your homework and good luck.

[smoothie]

Yeah mcxNOW has rocketed up to becoming the #2 litecoin exchange now, hopefully it can take the #1 spot soon once people realize the benefits over other exchanges.
http://www.cryptocoincharts.info/#jump-ltc-btc

A few updates and fixes coming tomorrow.

1) Clicking nick in chat focuses the text box
2) Added price to account logs
3) Now show confirmations on the incoming transactions
4) Added white border around QRcode to help scanning google auth

Also in regards to new coins I am looking at adding the most popular ones, so most of what BTC-e carry will most likely be added once I have checked the c++ source code of these nodes in question.

Thanks!

Gaining the #2 spot for a day or few does not constitute it being #2 exchange.

News Flash:  mcxNOW pays interest on every deposit. I'd think twice about buying LTC stamped on the back of so called silver coins and put them on a real exchange that pays dividends.   

How many mcxNOW shares exist to date? I can't seem to find this information.

[laughingbear]

http://forums.microcash.org/index.php/topic/774-mcxnow-fee-shares-daily-cryptocurrency-earnings/

Smooth, its natural and a good thing to be suspicious. Do your research.

RS didn't set the current price for fees, the free market did that. You dont have to buy fee shares to use this kick ass exchange.

[smoothie]

http://forums.microcash.org/index.php/topic/774-mcxnow-fee-shares-daily-cryptocurrency-earnings/

Smooth, its natural and a good thing to be suspicious. Do your research.

RS didn't set the current price for fees, the free market did that. You dont have to buy fee shares to use this kick ass exchange.

Thanks for the link.

And concerning research, what do you think I am doing? I rarely ever go to that forum. Last time I was there it was is a desert. Not a lot of forum activity as of late. Why would I look there? lol

Who is to justify if and when the numbers on his exchange surrounding mcxFEE share prices, volume, depth etc are real? You can't. He set the initial price at 0.1 BTC.

Litecoinglobal was at least a 3rd party for LTC stocks to post their business profile and allow a 3rd party to oversee the actual data and numbers associated with that stock.

Now here is a quote from the link you sent me:

How many mcxNOW fee shares are you creating?
There are 100000 in total. 50% will never be sold, so the amount of available fee shares is 50000. Each share therefore represents 0.001% of the daily fees.

So based on this thread you linked me to there have been ZERO new shares created. Is this correct?

QUESTION: How do you verify that more shares than are supposed to exist are not floating around?

At least with crypto you can look it up on the blockchain.

[laughingbear]

http://forums.microcash.org/index.php/topic/774-mcxnow-fee-shares-daily-cryptocurrency-earnings/

Smooth, its natural and a good thing to be suspicious. Do your research.

RS didn't set the current price for fees, the free market did that. You dont have to buy fee shares to use this kick ass exchange.

Thanks for the link.

And concerning research, what do you think I am doing? I rarely ever go to that forum. Last time I was there it was is a desert. Not a lot of forum activity as of late. Why would I look there? lol

Who is to justify if and when the numbers on his exchange surrounding mcxFEE share prices, volume, depth etc are real? You can't. He set the initial price at 0.1 BTC.

Litecoinglobal was at least a 3rd party for LTC stocks to post their business profile and allow a 3rd party to oversee the actual data and numbers associated with that stock.

Now here is a quote from the link you sent me:

How many mcxNOW fee shares are you creating?
There are 100000 in total. 50% will never be sold, so the amount of available fee shares is 50000. Each share therefore represents 0.001% of the daily fees.

So based on this thread you linked me to there have been ZERO new shares created. Is this correct?

QUESTION: How do you verify that more shares than are supposed to exist are not floating around?

At least with crypto you can look it up on the blockchain.

Dont buy them.  That is up you you.  Mcxnow is not all about the feeshares.

Use the exchange for the other features.