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magisterr
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November 01, 2018, 12:39:56 PM |
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Let me get this straight: I invest $0.165 during the ICO and get 1 MenaPay worth $1, fully backed. Is that correct?
How this possible? If they have 400 mln tokens, than they must have 400 mln real fiat usd for backed token at 1 usd price. But if price on ICO 0.165 than just 16.5% backed... and they need money for development. marketing etc. Or they will have some funds from other sources? Or just small part of tokens will be backed? |
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iad_xo
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November 01, 2018, 12:46:44 PM |
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First page is says that going to used in conservative country where financial is very strict. what are you going to do to for anonymity of all transactions? also in some country like africa smartphone hardware might not be same as used in other country. how are you tacking that challenges?
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Amelie Poulain
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November 01, 2018, 01:13:16 PM |
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The project looks very solid! MenaPay team has planned to participate in 4 crypto events this year (Istanbul, Beirut, Manama, Dubai)  I will follow the updates on this theme, and now I’ll start study whitepaper. |
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yeswepump
Legendary
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Activity: 1162
Merit: 1011
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November 01, 2018, 01:13:26 PM |
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First page is says that going to used in conservative country where financial is very strict. what are you going to do to for anonymity of all transactions? also in some country like africa smartphone hardware might not be same as used in other country. how are you tacking that challenges?
Not sure that the financial world will allow anonymous transactions in future. I think they will try to trace everything, giving a name to any UTXO... |
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Makkara
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November 01, 2018, 01:55:40 PM |
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First page is says that going to used in conservative country where financial is very strict. what are you going to do to for anonymity of all transactions? also in some country like africa smartphone hardware might not be same as used in other country. how are you tacking that challenges?
Not sure that the financial world will allow anonymous transactions in future. I think they will try to trace everything, giving a name to any UTXO... And if you plan to use something as a mainstream payment system, the payments will need to be traceable, thay for sure. |
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lvsca
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November 01, 2018, 02:13:20 PM |
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Let me get this straight: I invest $0.165 during the ICO and get 1 MenaPay worth $1, fully backed. Is that correct?
How this possible? If they have 400 mln tokens, than they must have 400 mln real fiat usd for backed token at 1 usd price. But if price on ICO 0.165 than just 16.5% backed... and they need money for development. marketing etc. Or they will have some funds from other sources? Or just small part of tokens will be backed? its impossible, due market pump and dump, it will hard make token price stay around $1. if there is only one pair (like BTC/MENA), it still impossible cause btc price can jump high and can fall down |
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jonnytracker
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November 01, 2018, 02:39:20 PM |
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Is this another ethereum contract or developing your own blockhain ?
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Spooknow
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November 01, 2018, 03:00:26 PM |
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Let me get this straight: I invest $0.165 during the ICO and get 1 MenaPay worth $1, fully backed. Is that correct?
How this possible? If they have 400 mln tokens, than they must have 400 mln real fiat usd for backed token at 1 usd price. But if price on ICO 0.165 than just 16.5% backed... and they need money for development. marketing etc. Or they will have some funds from other sources? Or just small part of tokens will be backed? its impossible, due market pump and dump, it will hard make token price stay around $1. if there is only one pair (like BTC/MENA), it still impossible cause btc price can jump high and can fall down One thing is for sure, strong growth has been and the fall will continue. It is clear that those who remember and dump know their business. The exchanges also in collusion and take an active part in such activities? |
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MattLeBlanc
Member
Offline
Activity: 364
Merit: 37
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November 01, 2018, 04:39:03 PM |
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So there will be two different coins..? Menapay and Menacash..? I got confused in that part. Can someone explain that..?
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belechau
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November 01, 2018, 05:34:11 PM |
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The project looks very solid! MenaPay team has planned to participate in 4 crypto events this year (Istanbul, Beirut, Manama, Dubai) I will follow the updates on this theme, and now I’ll start study whitepaper. Excellent news, despite being a niche with other players, their platforms are either not wanted or did not materialize, there is room for Menapay to act with tranquility and to make amends. The events will be decisive for demonstrating potential and visibility, I hope to see records of these |
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viljy
Legendary
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Activity: 1932
Merit: 1234
Hire Bitcointalk Camp. Manager @ r7promotions.com
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November 01, 2018, 06:07:34 PM |
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Let me get this straight: I invest $0.165 during the ICO and get 1 MenaPay worth $1, fully backed. Is that correct?
As far as I understand, for 16 cents you buy a dividend token. A utility token will be equated to the dollar. And it will not be sold on ICO. But maybe I'm wrong, wait for clarification from the project team. |
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Rigorous
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November 01, 2018, 06:10:56 PM |
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So there will be two different coins..? Menapay and Menacash..? I got confused in that part. Can someone explain that..?
I only read the first page of the one pager linked in the first post. Not clear at all that there are Mena tokens and coins. Guess what, on the second page of the one pager (  ) there is indeed a MenaCash stablecoin, as well as a MenaPay token which is the thing you can invest in for $0.165 a piece. To answer my own question: no, I do not get a $1 token coin thing for $0.165. I get a $0.165 token that maybe can be exchanged with $1 stablecoins at whatever market price the token has at that time. |
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mandibleclaw
Member
Offline
Activity: 532
Merit: 50
ONe Social Network.
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November 01, 2018, 06:54:54 PM |
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So is this like PayPal for crypto? So far I saw pundix, coss and utrust trying to do that but I don't see tangible results so far
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matjas
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November 01, 2018, 06:56:47 PM |
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I see private sale is live, can you share any information about how successful is it until now, did you manage to attract some angel investors?
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ParRus
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November 01, 2018, 06:59:40 PM |
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Soft cap 5,000,000 USD
Hard cap 25,000,000 USD
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5 Million a large sum, what will happen if during ICO project fails to raise 5 million? and I also want to know what you plan to do with unsold tokens?
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nobytes
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November 01, 2018, 08:36:22 PM |
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I skimmed the white paper and there's one thing i don't get. How can Mena Token be an utility token if it pays shares or dividends?
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bitcoin-shark
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November 01, 2018, 10:25:07 PM |
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Any information regarding the bounty? Looks like I wouldn't feel sorry if I bet my time on this one.
We will post bounty announcement thread this week. I'll let you know. i also look forward to have information on the various bounties, the project seems promising... |
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nobytes
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November 01, 2018, 10:42:41 PM
Last edit: November 04, 2018, 09:57:37 AM by nobytes |
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So is this like PayPal for crypto? So far I saw pundix, coss and utrust trying to do that but I don't see tangible results so far
Coss too? Seriously? ...Well this is for very specific region. I would not call it a paypal tbh (paypal does not have tokens and don't pay dividends) |
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belechau
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November 01, 2018, 11:13:33 PM |
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So is this like PayPal for crypto? So far I saw pundix, coss and utrust trying to do that but I don't see tangible results so far
Coss too? Seriously? ...Well this is for very specific region. I would not call it a paypal tbh Exactly, predecessors who failed to deliver products, are still running, or have had difficulties throughout their script, I am deepening in MenaPay, I intend to join, follow the beginning and see them finalize something here |
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traveler007
Member
Offline
Activity: 840
Merit: 10
ZooomEx- a new cryptocurrency exchange!
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November 02, 2018, 12:06:11 AM |
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While you will have 2 kind of tokens: MenaPay and MenaCash, and menacash will be a stable coin, so you selling on ICO Menapay token?
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