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Author Topic: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ]  (Read 15379 times)
bidji29
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November 06, 2013, 08:36:55 PM
 #61

what country are the founders from and/or servers located. I would be careful with gambling. Why not just run an exchange and focus on the uniqueness of micro-payments to the balance-holders and shareholders? That's sounds good enough to me. The domain registrar is Panama. That is a red flag. New BTC outfits are about trust above all else. Who can trust this?

Company and founder are australian

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Rannasha
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November 15, 2013, 10:58:08 AM
 #62

Just to bump this for giggles. mcxFEE is now trading at 0.25, while the second IPO was at 0.4. At the current rate of dividends, it'll take IPO buyers years to earn back this loss. People who were holding units from the first IPO batch also got hosed, the units were trading at 0cv.53 when they were locked to prevent public m arket trading from competing with demand for IPO shares.

Well played by RealSolid, pocketing himself a 10K+ BTC retirment fund while leaving investors to worry whether they'll make their money back.
pascal257
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November 15, 2013, 01:48:07 PM
 #63

Just to bump this for giggles. mcxFEE is now trading at 0.25, while the second IPO was at 0.4. At the current rate of dividends, it'll take IPO buyers years to earn back this loss. People who were holding units from the first IPO batch also got hosed, the units were trading at 0cv.53 when they were locked to prevent public m arket trading from competing with demand for IPO shares.

Well played by RealSolid, pocketing himself a 10K+ BTC retirment fund while leaving investors to worry whether they'll make their money back.
Do you really think someone bought this crap? I think it was a big hoax and only a few shares were actually sold.
Rannasha
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November 15, 2013, 01:57:37 PM
 #64

Just to bump this for giggles. mcxFEE is now trading at 0.25, while the second IPO was at 0.4. At the current rate of dividends, it'll take IPO buyers years to earn back this loss. People who were holding units from the first IPO batch also got hosed, the units were trading at 0cv.53 when they were locked to prevent public m arket trading from competing with demand for IPO shares.

Well played by RealSolid, pocketing himself a 10K+ BTC retirment fund while leaving investors to worry whether they'll make their money back.
Do you really think someone bought this crap? I think it was a big hoax and only a few shares were actually sold.

What I've learned from the short time spent on this forum is not to underestimate the amount of people willing to buy into scams.
chaosknight
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November 15, 2013, 04:08:31 PM
 #65

Oh, why did the mcxfee drop so much, anybody know what is the current fee earnings?
bidji29
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November 16, 2013, 08:07:50 AM
 #66

mcxFEE data : https://docs.google.com/spreadsheet/ccc?key=0AioqMMSVIC5tdFplWndsdmZuaGxyN01xemxtNWYxVGc#gid=0


mcxFEE dropped because of bitcoin rise. The price is still the same in USD value.

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Rannasha
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November 16, 2013, 08:18:24 AM
 #67

Doesn't work here, gives an unspecified error.

Quote
mcxFEE dropped because of bitcoin rise. The price is still the same in USD value.

Keep thinking that.

mcxFEE dropped because of obvious price manipulation. First RS releases only a very small amount of mcxFEE, creating artificial scarcity which drives up the price, even though said price doesn't reflect the underlying value. Once the price increased to sufficient levels, a new batch that is 9 times as large as the first one is put up for sale. Normally what happens to a market in such a case is a crash of the price of the asset and not much interest for the new offering. So what does RS do? He locks trading on mcxFEE, so that it neatly shows 0.53 as last price, while the new shares are offered at 0.4. An apparent bargain. But as expected when the number of available shares is multiplied to this extent: The price drops after trading is reopened, since the revenue doesn't justify the price.

Also, if the price of mcxFEE does indeed follow the USD/BTC rate, then it's an even worse investment. That would mean your BTC-value would go down if BTC/USD goes up. Yet you're still investing in BTC/crypto, so you're exposed to all the risks. Why not just hold BTC in a wallet in this case?
bidji29
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November 16, 2013, 12:39:10 PM
 #68

Lol you seems to forget mcxFEE give dividends every day. That's the point to hold it.

Of course if BTC rise like in the past week, it's better to hold BTC. But don't forget mcxNOW will grow in the future too,

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Rannasha
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November 16, 2013, 01:22:04 PM
 #69

Lol you seems to forget mcxFEE give dividends every day. That's the point to hold it.
Yes... an annualized yield of 10% or so I believe. If that was based on the previous valuation of 0.4, then that's 0.04 BTC per share per year. Currently shares are trading 0.16 BTC below the second IPO price, so it only takes people 4 years to recover the value they lost from the price-drop before they start to profit. That sounds appealing.

Quote
Of course if BTC rise like in the past week, it's better to hold BTC. But don't forget mcxNOW will grow in the future too,
There have been investments that have made positive returns in BTC despite the rise of the BTC/USD rate. The second statement that mcxNOW *will grow*  is a bold claim. It hopes to grow, or intends to grow, but unless you have powers of precognition, you can't with a straight face say that it will grow. The alt-coin market is volatile and may not grow at all beyond its current volume.

The point remains that any investor that wanted to buy mcxFEE and had at least some level of independent thought could've figured out that this undersold IPO would cause prices to drop and that it'd be far better to pick up shares after market trading was resumed.

Finally, I still believe that the entire sequence of events is price manipulation by RS to get the most cash out of it by pumping the price with artificial scarcity and then locking the market to prevent it from reflecting its true sentiment on the fact that the publicly available share-count was increased by a factor 10.
mr_random
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November 17, 2013, 12:36:01 AM
 #70

Look today at how much the trading volumes are now for the coins:

Litecoin: 29BTC
Primecoin: 29BTC
Peercoin: 3BTC
Feathercoin: 2BTC
Mincoin: 2BTC
Solidcoin: 3BTC
Devcoin: 2BTC
Worldcoin: 353BTC <-- only coin with good trading volume
Copperlark: 1BTC

That is a substantial drop compared to the period when the funds were being raised.

It makes you wonder whether the trading volumes were pumped by the site owner to make the site appear more profitable than it really is?

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moderate
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November 17, 2013, 02:03:28 AM
 #71

Look today at how much the trading volumes are now for the coins:

Litecoin: 29BTC
Primecoin: 29BTC
Peercoin: 3BTC
Feathercoin: 2BTC
Mincoin: 2BTC
Solidcoin: 3BTC
Devcoin: 2BTC
Worldcoin: 353BTC <-- only coin with good trading volume
Copperlark: 1BTC

That is a substantial drop compared to the period when the funds were being raised.

It makes you wonder whether the trading volumes were pumped by the site owner to make the site appear more profitable than it really is?
claycoins
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November 17, 2013, 02:44:45 AM
 #72

Look today at how much the trading volumes are now for the coins:

Litecoin: 29BTC
Primecoin: 29BTC
Peercoin: 3BTC
Feathercoin: 2BTC
Mincoin: 2BTC
Solidcoin: 3BTC
Devcoin: 2BTC
Worldcoin: 353BTC <-- only coin with good trading volume
Copperlark: 1BTC

That is a substantial drop compared to the period when the funds were being raised.

It makes you wonder whether the trading volumes were pumped by the site owner to make the site appear more profitable than it really is?

yeah noticed this too.
jedunnigan
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November 17, 2013, 05:05:18 AM
 #73

This operation has been shady since the start and it appears confirmations of that sentiment just keep rolling in. Tread carefully bitcoiners.
glendall
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November 17, 2013, 06:55:46 AM
 #74

The exchange was started to trade mincoin. I mean that is a pretty bad start of things isn't it.
drawingthesun
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November 17, 2013, 07:04:52 AM
 #75

Wow Realsolid just made $4,000,000+

If I were him I would now auction off the entire site and be done with it.
Rannasha
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November 18, 2013, 11:52:58 AM
 #76

mcxFEE down to 0.11. People buying at this second IPO have lost 70% of their coins. Even those that bought at the first IPO before the pump are at risk of going negative on their investment.

Successful pump-and-dump is successful.
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November 18, 2013, 12:52:54 PM
 #77

what country are the founders from and/or servers located. I would be careful with gambling. Why not just run an exchange and focus on the uniqueness of micro-payments to the balance-holders and shareholders? That's sounds good enough to me. The domain registrar is Panama. That is a red flag. New BTC outfits are about trust above all else. Who can trust this?

When i first started posting here, i thought pointing to the red flags was enough to warn people away from obvious cons/fails.
Now i understand the mechanics of attracting "investors" here.

TheFuneral
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November 19, 2013, 02:41:12 AM
 #78

....
It makes you wonder whether the trading volumes were pumped by the site owner to make the site appear more profitable than it really is?

He does this and a great way to watch it happen are mcxfees. He's doing this with the profits hes now made. I don't think it's a BAD place like most of you, but things could be made more clear.
lophie
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November 19, 2013, 03:04:46 AM
 #79

I am trying to understand why are people freaking out. Due to the insane rise in BTC value some big investors are cashing out, others are tying to manipulate the price by setting virtual walls on both the sell and buy side.

The divs are lower but they are NOT bad (depends on your entry point, I pity you if you entered 0.8+ Sad ). How about you think positively guys? So now basically real solid made even more than what he needed for the IPO and we have about half the amount of shares to share the future profit with Smiley. Yes it nose dive is scary but it is not (not expected) and it is not due to the fail of MCXNow.

The engine is awesome the growth swings but generally very good. Competitors are losing market share to MCXNow and more features are coming.

I am not saying I am not also scared shitless of losing all that current worth but I am relatively confident it is going to be just fine. at least for 0.4BTC, in the next couple of months.

Will take me a while to climb up again, But where is a will, there is a way...
TheFuneral
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November 19, 2013, 05:50:35 AM
 #80

...
The engine is awesome the growth swings but generally very good. Competitors are losing market share to MCXNow and more features are coming.

...

Show me where competitors are losing. The competitor in the market losing now is mcxnow. What features? He doesn't need features he needs money coming in. It's got higher fees than other exchanges and a decrease rate of money on the exchange.
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