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

[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.

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

Use the exchange for the other features.

My questions have nothing to do with the rest of the exchange. Let's stay on topic about mcxFEE shares.

And thanks for not answering my questions (even if you don't have the answer).

Edit: With RS's track record I wouldn't trust sending any amount to his exchange.

[laughingbear]

The answers are there, you just dont like them.  again fee shares are not the main reason to join the exchange.

on topic tho, id trust RS about 10,000 x more than i trust btc-e

[smoothie]

The answers are there, you just dont like them.  again fee shares are not the main reason to join the exchange.

on topic tho, id trust RS about 10,000 x more than i trust btc-e

Oh really? Where is the answer to the following question?

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

[bidji29]

There is 100 000 share/mcxFEE in total, each for 0.00001%

5 000 with users, tradable. But more will be released at the end of the year/nextyear. At the end 50 000 share will be released to the public
25 000 in the Pool Fee. Those are redistributed to the users. It's the interest payment.
1000 in Lotto
69 000 to the site owner.



At long-term, the distribution will be like this
50 000 with users
X in the Pool Fee
Y in the Lotto
The rest for the site owner (50 000 - X - Y)

[Carra23]

The answers are there, you just dont like them.  again fee shares are not the main reason to join the exchange.

on topic tho, id trust RS about 10,000 x more than i trust btc-e

Why? Genuine question.

[Carra23]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

[STT]

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,

17 PE is still quite normal.  2 PE would be a firesale price for most assets.  Thats like buying a house and you think the rent every year should be half what you paid

A casino would return that fast and I guess you think all money will be lost so thats comparable.  depends how you consider it all

[smoothie]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

Yup and still no one has given an answer to this question.

[TheSpiral]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

Yup and still no one has given an answer to this question.

• Each share represents 0.001% of all site-generated fees (trading fees, withdraw fees, etc.).
• Currently, there are 5,000 in circulation which represents 5% of fees.
• There will be another batch of 45,000 shares which represents 45% of fees, totaling 50% of fees.
• There are 100,000 total shares to total 100% of fees.
• The remaining will be the site's owner's to have (the other 50% of generated fees).

It is what it is sounds to be: a share of profits generated by fees from the site. Obviously, this means you can't have more than 100%, i.e. 100,000 total shares, assuming scarce amount of magicians.

Basically, instead of taking 100% of fees, RealSolid is distributing 50% of that to the members and keeping 50% for himself. Slightly simple math, but it also gives holders a vested interest in making volume increase by getting more people there, trading more, etc.

[smoothie]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

Yup and still no one has given an answer to this question.

Each share represents 0.001% of all site-generated fees (trading fees, withdraw fees, etc.).
There are 100,000 total shares to total 100% of fees.
Currently, there are 5,000 in circulation which represents 5% of fees.
There will be another batch of 45,000 shares which represents 45% of fees, totaling 50% of fees. The remaining will be the site's owner's to have (the other 50% of generated fees).
It is what it is sounds to be: a share of profits generated by fees from the site. Obviously, this means you can't have more than 100%, i.e. 100,000 total shares.

That's all nice and dandy, but your number explanation does not answer my question.

[TheSpiral]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

Yup and still no one has given an answer to this question.

• Each share represents 0.001% of all site-generated fees (trading fees, withdraw fees, etc.).
• Currently, there are 5,000 in circulation which represents 5% of fees.
• There will be another batch of 45,000 shares which represents 45% of fees, totaling 50% of fees.
• There are 100,000 total shares to total 100% of fees.
• The remaining will be the site's owner's to have (the other 50% of generated fees).

It is what it is sounds to be: a share of profits generated by fees from the site. Obviously, this means you can't have more than 100%, i.e. 100,000 total shares, assuming scarce amount of magicians.

Basically, instead of taking 100% of fees, RealSolid is distributing 50% of that to the members and keeping 50% for himself. Slightly simple math, but it also gives holders a vested interest in making volume increase by getting more people there, trading more, etc.

That's all nice and dandy, but your number explanation does not answer my question.

How does it not? 100,000 * 0.001% = 100%
How could there be more than that without RealSolid paying out of pocket?
There are payments every 6 hours, of which you can calculate for yourself how much volume there was in that time and what 0.001% of that volume would be (not counting withdraw fees of course).

[smoothie]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

Yup and still no one has given an answer to this question.

Each share represents 0.001% of all site-generated fees (trading fees, withdraw fees, etc.).
There are 100,000 total shares to total 100% of fees.
Currently, there are 5,000 in circulation which represents 5% of fees.
There will be another batch of 45,000 shares which represents 45% of fees, totaling 50% of fees. The remaining will be the site's owner's to have (the other 50% of generated fees).
It is what it is sounds to be: a share of profits generated by fees from the site. Obviously, this means you can't have more than 100%, i.e. 100,000 total shares.

That's all nice and dandy, but your number explanation does not answer my question.

How does it not? 100,000 * 0.001% = 100%
How could there be more than that without RealSolid paying out of pocket?
There are payments every 6 hours, of which you can calculate for yourself how much volume there was in that time and what 0.001% of that volume would be (not counting withdraw fees of course).

So tell me this, does everyone have public access to all share holders information, total volume of all cryptocoins, depth etc to do the proper calculations to see if indeed the total fees are what they claim to be for the 6 hour period (or whatever the time interval is)?

If you (in this case RealSolid) control the output of values of the exchange site (price,depth, volume) that bases its payout to its shareholders based on those same values then you can always game the system unless there is a public audit of his exchange. Likely this will never happen because you would need access to the private data on his server(s) to do the actual TRUE audit.

Without all of that information you can't know for sure that he isn't gaming the system by skimming off the top or creating more shares (more likely just adjusting the total true volume traded down so his cut is bigger than normal and the payouts are smaller).

[TheSpiral]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

Yup and still no one has given an answer to this question.

Each share represents 0.001% of all site-generated fees (trading fees, withdraw fees, etc.).
There are 100,000 total shares to total 100% of fees.
Currently, there are 5,000 in circulation which represents 5% of fees.
There will be another batch of 45,000 shares which represents 45% of fees, totaling 50% of fees. The remaining will be the site's owner's to have (the other 50% of generated fees).
It is what it is sounds to be: a share of profits generated by fees from the site. Obviously, this means you can't have more than 100%, i.e. 100,000 total shares.

That's all nice and dandy, but your number explanation does not answer my question.

How does it not? 100,000 * 0.001% = 100%
How could there be more than that without RealSolid paying out of pocket?
There are payments every 6 hours, of which you can calculate for yourself how much volume there was in that time and what 0.001% of that volume would be (not counting withdraw fees of course).

So tell me this, does everyone have public access to all share holders information, total volume of all cryptocoins, depth etc to do the proper calculations to see if indeed the total fees are what they claim to be for the 6 hour period (or whatever the time interval is)?

Initial Shareholders: https://bitcointalk.org/index.php?topic=264182.msg2863465#msg2863465
Obviously the shares themselves can be bought and sold like other forms of currency, so maybe he himself bought some and has 96% of shares instead of 95% of shares. Then he'd have 96% of fees generated by his site instead of 95% of fees generated by his site.

Volume is listed underneath each chart in 24h values. It'd probably be better if it listed in 6h intervals instead, but you still could calculate from the chart above it (though it's a lot of manual work to do so). For now, it's easier to calculate based on 24 hour volume, and multiply your payout by 4 to see if they line up (which they do), though the tools are there to calculate on a per-payout basis (6 hour volume).

Fudging the numbers wouldn't make a lot of sense in this case. If the volume is hand-altered, the payout would be adjusted to those numbers, he'd get a higher payout, shareholders would get a higher payout. But where would it come from? It is paid as a percentage of fees generated by the site. To get a bigger payout, it would use more than fees have actually generated via trading and the payout would have to come out of pocket which would make no sense, especially if you're suggesting someone is paying themself out of their own pocket.

[Carra23]

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.

Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.

Yup and still no one has given an answer to this question.

Each share represents 0.001% of all site-generated fees (trading fees, withdraw fees, etc.).
There are 100,000 total shares to total 100% of fees.
Currently, there are 5,000 in circulation which represents 5% of fees.
There will be another batch of 45,000 shares which represents 45% of fees, totaling 50% of fees. The remaining will be the site's owner's to have (the other 50% of generated fees).
It is what it is sounds to be: a share of profits generated by fees from the site. Obviously, this means you can't have more than 100%, i.e. 100,000 total shares.

That's all nice and dandy, but your number explanation does not answer my question.

How does it not? 100,000 * 0.001% = 100%
How could there be more than that without RealSolid paying out of pocket?
There are payments every 6 hours, of which you can calculate for yourself how much volume there was in that time and what 0.001% of that volume would be (not counting withdraw fees of course).

So tell me this, does everyone have public access to all share holders information, total volume of all cryptocoins, depth etc to do the proper calculations to see if indeed the total fees are what they claim to be for the 6 hour period (or whatever the time interval is)?

If you (in this case RealSolid) control the output of values of the exchange site (price,depth, volume) that bases its payout to its shareholders based on those same values then you can always game the system unless there is a public audit of his exchange. Likely this will never happen because you would need access to the private data on his server(s) to do the actual TRUE audit.

Without all of that information you can't know for sure that he isn't gaming the system by skimming off the top or creating more shares (more likely just adjusting the total true volume traded down so his cut is bigger than normal and the payouts are smaller).

Besides, he can simply sell from his 50000 non-releaseable shares. Or even he can sell from the remaining 45000 releasable shares and then when selling those 45000 shares he actually sells, say, 40000 and claim he released 45000.

I am not saying he would. Pointing out its very much possible and probably something I would do.

[smoothie]

smoothie:  It is pointless to quote you from this point forward. The fact of the matter is that you're beating a dead horse. You've always questioned any and everything from RS, mcxNOW, and the MC community from day one.  Face the facts, the two years of hard work RS has put forth is paying off.  If you don't want to earn interest on your coins, don't park them here.  Now regarding those nearly pure silver coins you're selling, where is the proof that the coins are actually real?  Has anyone from a 3rd party melted them down and analyzed them and published the results for the public to see?  Go find a report on the internet, upload to your site and when done, come back and throw more questions.

Good job not answering my questions.

Yes you are correct I do not trust RS/CH or whatever else sock puppets he has.

My coins have nothing to do with the topic of this thread. If you are that interested in finding out the true silver content of my coins you are welcome to buy one and do it yourself (the assay).

So funny, I can only get answers to my questions if I get my coins assayed. LOL that's really funny.

Let's stay on topic shall we? If you want to discuss my coins, I have an entire thread for that 50 pages long. Feel free to discuss it there.

Asking a question and not getting a direct answer (but attacks about what I sell) is not beating a dead horse. You have yet to address my questions. You prefer to retort by attacking me as opposed to just answering the question directly.

QUESTION: How do you verify that more shares than are supposed to exist are not floating around as well as prove that RS is not tampering with volume numbers on his exchange as to lower payouts to his share holders?

Last time I checked the guy still has not revealed his true identity publicly yet he wants to operate an exchange and stock/shares and have people trust him.

Also just to be clear, yes I will never send any coins to his exchange. My questions are for public information. If I ask a question that opens up discussion on the inner workings of his new mcxFEE shares and the accountability of total outstanding shares as well as current owed payouts it is a service to anyone using his exchange for that purpose.

[TheSpiral]

Good job not answering my questions.

Was already answered. Reading's too hard.

[smoothie]

Good job not answering my questions.

Was already answered. Reading's too hard.

I read your post. If he lowered the volume numbers for the time interval for payouts...the payouts to his shareholders would be lower. No one would be the wiser without access to all data on his private servers.

You did not respond directly to my PUBLIC AUDIT suggestion.

And to be clear notyep was who I was addressing when I stated what I stated. He prefers to retort with personal attacks.

Perhaps you don't understand why I am questioning what RS is doing.

You should catch up on some reading. Search for username COINHUNTER on this forum. Get up to speed and then let's talk.

I noticed your profile says you registered in April of this year. His rep goes waaaay back.

[bidji29]

Cryptsy Down?
8 Billion COL missing from Btcltc.com
Beware of Coins-E - they stole at least 24k PXCs from users
Phenixex.com SXC issue


In the meantime, on other exchange...

[smoothie]

Cryptsy Down?
8 Billion COL missing from Btcltc.com
Beware of Coins-E - they stole at least 24k PXCs from users
Phenixex.com SXC issue


In the meantime, on other exchange...

Did you overlook the 250 BTC Realsolid/Coinhunter supposedly took from microcash enthusiasts and then never released Microcash?

[bidji29]

Did you overlook the 250 BTC Realsolid/Coinhunter supposedly took from microcash enthusiasts and then never released Microcash?

All those link are from Today.
Your story is partially true, but old, and doesn't have anything to do with mcxNOW.

Microcash is almost finished and now mcxNOW 2.0 is out, the next project of RealSolid is to finish it.
With a ~1month ETA (so probably 3-4month)