[MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ]

[drawingthesun]

bidji29, hey you little shit where are you?

What did I say?

Wow Realsolid just made $4,000,000+

If I were him I would now auction off the entire site and be done with it.

And 9 days later...

https://mcxnow.com/

mcxNOW is shutting down for a period of time

Damn you bunch of stupid stupid idiots.

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[drawingthesun]

https://mcxnow.com/

I am getting health issues, etc.

After making $4,000,000...

I told all of you what would happen!

[moderate]

The guy can't stop calling himself awesome, even while announcing that this was just a quick play to collect personal funds. ROFL

If bitcoin doesn't survive at least a couple of comedy shows will come out of this.

[drawingthesun]

mcxNOW is shutting down for a period of time
Withdraw all your coins before December 20th
mcxNOW has seen unprecedented growth in recent months and especially in the last few weeks. mcxNOW is a custom coded exchange built 100% by one man in C++ . This means if anything has to be modified then only one person can do it.
Unfortunately the growth has been too fast to match with the support requirement as only one person can currently do all support. This is a burden of 200 to 400 emails a day among many requests on IRC and through chat. This makes development of mcxNOW nearly impossible without neglecting valid user requests through support.
I am happy that in over 7 months mcxNOW has not been hacked or lost any coins and that the exchange has scaled well from 100 users upto a peak of about 3500 users online at once, it shows the design here is pretty good. However I never anticipated some aspects of running an exchange that are quite important (ie. support) so I need to work on this before allowing the site to grow.
I advise everyone to withdraw their coins and use other exchanges until mcxNOW returns. I will need at least one month, and perhaps as many as 3 before I can make the site live again. If you fail to withdraw coins before December 20th then you'll have to wait until the site is live again before withdrawing, whatever balance you hold will carry over. After December 20th passes a test version of mcxNOW will be put up that you can help test without using real coins, this will include the new gaming platform.
All existing mcxFEE holders will have the same mcxFEE balance when the site relaunches. I'm allowing people to trade mcxFEE up until December 20th in case they want to exit them.
I apologize for needing to do this, the stress and burden of running a successful exchange in the current way is just untenable for me now. I can barely sleep, I am getting health issues, etc. There truly is no alternative than some downtime. I apologize mainly to mcxFEE holders as they have invested in the exchange and will miss revenue in the downtime.
mcxNOW will be back and even better than before, I truly believe we have the best trading platform and cryptocommunity platform here but I need to work on these other facets before it becomes a real problem. I will use all the knowledge I have gathered over the last 7 months to make something bulletproof and easy to maintain.
Thank you for your support and hopefully we can see all of you back here relatively soon.

[Rannasha]

Hahaha, what a joke. Collect 11K BTC and just pull the plug on the site for an unknown amount of time. That's just epic.

mcxNOW is a custom coded exchange built 100% by one man in C++ . This means if anything has to be modified then only one person can do it.

Does he think he is the only person who has ever used C++ or what? Any semi-decent programmer can work with a code that has been decently developed and documented. His code is either so messy that noone can make heads or tails of it or he's so full of himself that he believes that noone can grasp his work. Probably a bit of both. I always found his programming language fanboyism to be hilarious. It's not the programming language that determines whether software is great or crap, yet he keeps using it as a main selling point for his exchange. Typically a sign of a poor programmer.

So what's up with taking a site down completely instead of just developing on a separate machine like every other web-service does? If he's so overwhelmed by support requests, I'm sure the 11K BTC he collected should be sufficient to hire a small army of support-agents. Since most support requests are typically extremely mundane newbie stuff, support-agents don't need to be awesome C++-ninjas or whatever RS believes himself to be.

The price of mcxFEE has tanked further to 0.08. Of the original IPO price only 20% is left.

RealSolid managed to pull of yet another scam.

[BitHub]

what a cunty

[dexX7]

This is unbeliavable.

+1 for a manhunt.


Edit:

https://bitcointalk.org/index.php?action=trust;u=135332

[drawingthesun]

Between the scammy failures of the operator's past and the multiple shilly marketing posts like this one, I'd say get lost.

BCX is know for having something personal against RealSolid. Always preaching the end of world and the eternity in hell for people who deal with him.
He would find a way to scream SCAM with RS donating a kidney.

bidji29, you stupid little shit, do you even have the decency to reply?

Real scammed yet again, are you still sucking his cock?

[Rannasha]

Spent a little time reading the chat of mcxNOW. It's unbelievable how people are supporting RS in there. There was someone who said that it couldn't be easy with so many demanding users and someone else actually asked RS if he needed funds for the upgrades of the site.

[drawingthesun]

Spent a little time reading the chat of mcxNOW. It's unbelievable how people are supporting RS in there. There was someone who said that it couldn't be easy with so many demanding users and someone else actually asked RS if he needed funds for the upgrades of the site.

They must be shills or the most stupid people in the world.

He just made $4million from them and they want to help pay for upgrades?

[forensick]

unbelievable, time to hunt scammers and kill em all

[tum0r]

Heheh. My gutfeeling was spot on ponzy all the way. Atleast my portfoli got 3x larger.  But as, allways. senior advices makes for a safer cryptoworld. Thanks folks.  Luuuky me

[drawingthesun]

Heheh. My gutfeeling was spot on ponzy all the way. Atleast my portfoli got 3x larger.  But as, allways. senior advices makes for a safer cryptoworld. Thanks folks.  Luuuky me

Nope. If you want to accuse someone of a scam at least get the terms correct. Not every scam is a ponzi.

A ponzi is where many people invest in a scheme that offers high interest rates, the catch is that these interest rates are paid out of the money people are investing into the ponzi.

A -> $1000 | total = $1000
B -> $5000 | total = $6000
C -> $2000 | total = $8000

Now A, B and C are paid 10%
Total = $ 7200 -> A($100), B($500), C($200)

This continues until too much interest has to be paid and the scheme collapses. The key point here is the only money coming into the investment is people investing, there is no other input.

Now what type of scam is mcxFEE? It's not a ponzi because the returns were from fees being paid on trades, instead the scam involves selling these FEE tokens and shutting down the site. If RealSolid kept the site going for 10 - 20 years, the investors may have got their ROI.

Also the IPO was at a much higher rate than the value of the fee trades, and people would have bought in only because they wanted to sell to someone else, but this is not a scam on RealSolids part but rather investors being idiots and unable to do math.

The scam mainly involves RealSolid lying about the future potential of the site, he made claims a gambling and gaming platform were going to be created and this gave the tokens their value. Instead RealSolid shut the company down.

An analogy is Facebook raising $14,000,000,000 and then closing the site. If that happened Mark and the rest of the board would spend 20 years in jail, rich people get away with a lot of crime, but not high financial crime.

[NUFCrichard]

Re: [MCXNOW IPO] : 11,000 BTC raised [ UPDATE : OVER! ]

Over indeed, enjoy your 11,000 BTC raised/scammed

[tum0r]

Heheh. My gutfeeling was spot on ponzy all the way. Atleast my portfoli got 3x larger.  But as, allways. senior advices makes for a safer cryptoworld. Thanks folks.  Luuuky me

Nope. If you want to accuse someone of a scam at least get the terms correct. Not every scam is a ponzi.

A ponzi is where many people invest in a scheme that offers high interest rates, the catch is that these interest rates are paid out of the money people are investing into the ponzi.

A -> $1000 | total = $1000
B -> $5000 | total = $6000
C -> $2000 | total = $8000

Now A, B and C are paid 10%
Total = $ 7200 -> A($100), B($500), C($200)

This continues until too much interest has to be paid and the scheme collapses. The key point here is the only money coming into the investment is people investing, there is no other input.

Now what type of scam is mcxFEE? It's not a ponzi because the returns were from fees being paid on trades, instead the scam involves selling these FEE tokens and shutting down the site. If RealSolid kept the site going for 10 - 20 years, the investors may have got their ROI.

Also the IPO was at a much higher rate than the value of the fee trades, and people would have bought in only because they wanted to sell to someone else, but this is not a scam on RealSolids part but rather investors being idiots and unable to do math.

The scam mainly involves RealSolid lying about the future potential of the site, he made claims a gambling and gaming platform were going to be created and this gave the tokens their value. Instead RealSolid shut the company down.

An analogy is Facebook raising $14,000,000,000 and then closing the site. If that happened Mark and the rest of the board would spend 20 years in jail, rich people get away with a lot of crime, but not high financial crime.

Thank you for clearing that.
 "Smart ass"
After  x days ,with little to none sleep. A error in my formulating. Is not of any concern. And im a a forigner. Haha

[drawingthesun]

Thank you for clearing that.
 "Smart ass"
After  x days ,with little to none sleep. A error in my formulating. Is not of any concern. And im a a forigner. Haha

Don't worry about it! Too many people in this forum throw around "ponzi" when they should simply stick to "scam".

The reason I think it's important to have correct terms is that when we're trying to bring down a scammer, it helps if we know what we are talking about.

[Keyser Soze]

Is it really that surprising that RS is taking the site down? My understanding is similar things happened with prior projects.

[forensick]

mcxnow is back

[glendall]

Haven't followed, but mildly interested.  How did this IPO go? It looked like a terrible idea to me.   So I see MCXNOW is back.  Are investors expecting to make back their investments? Genuinely curious.

To me IMHO it seems like an incredible amount of money easily invested in something with such little security.

[larem]

Haven't followed, but mildly interested.  How did this IPO go? It looked like a terrible idea to me.   So I see MCXNOW is back.  Are investors expecting to make back their investments? Genuinely curious.

To me IMHO it seems like an incredible amount of money easily invested in something with such little security.

Well, if he follows through with what he said, this can be a great thing. He claims there are going to be weekly updates for at least 6 weeks now, with new coin additions and such. We just have to hope that he doesn't fall back into that "tomorrow" phase where it takes weeks or months to get anything done.