Topic: Minexcoin - A new era of payments - page 164. (Read 646766 times)

Was that "borrowing" intentional or programming error?

If that was intentional and planned action, then Minex CEO and his helpers places are in jail!

Taking into account the last transactions, so-far around 80k coins have been bought through Instabuy, 27k of them on the Saturday-Sunday night. This was the situation that caused the dump. There’s no such possibility any more

Can you explain how instabuys cause dumps?

Shouldn't it be causing buying pressure?

From: https://medium.com/minecoin-blog/announcement-launch-of-instabuy-refferal-and-cashback-programs-29c398741ff1

Instabuy users just have to send their BTC (or BCH) to the designated address and receive the associated MNX (The supply of MNX will come from Minexcoin’s own funds). Once the transaction is verified and validated, the same amount of MNX will be bought from exchanges and taken out of the market. We endure the hassle, you experience the pleasure!


If 80K was bought via instabuy and those 80K were meant to come out of your own funds and then you are meant to go on the exchange to go buy

those 80K back, does that mean that you intentionally crashed the price so you can buy cheaper?

Can someone explain this to me cause am afraid am a bit thick....

Thanks.

Where do you see volume increasing? I'm looking at the exchanges right now and don't see volume increasing at all. Open orders does not equal volume.

I see some open orders with a huge spread. Those are never going to execute any time soon.

I have no idea how you reached your conclusion.

I still support this project, still investing, still have faith the team will deliver... But facts are facts and just can't understand why some people continue to post random (and very unfeasible) guesses at sky rocketing prices in coming months. You're not doing yourself any favours by raising your hopes on guesses.

Rate changes have been hinted at sometime in October. This is a good move. The previous rate change caused a big dumping of holdings which triggered more holders to dump and it snowballed. See my long post a few pages back. I've explained what happened. Changing the rates again now won't have the same effect... As its taking place before the value has risen back to where its profitable to do so.

Changing the rates now will slow the rate of accumulation which, after a couple of quarterly cycles, will slow the down trend. Then, and only then, will regular market activity start an up trend.

The price will start recovery summer 2019. Maybe by end of year 2019 3x to 4x its current price. But not a sky rocket.

2020, a few more deliveries of new products and systems, we're back to the good times. Maybe 10 USD to 15 USD. That would be a great target to aim for.

If you could deliver the cards before the end of this month you will definitely beat MCO as they are also planning to release their card shortly.[/list]

It's fantastic , Minexcoin Team . I can see the volumes of trading is increasing and many good orders are in queue . I believe we can see some big updates from minexcoin in early October and Minexcoin price will explode and go up to the sky. Be greedy when people are scared.

All coins that were sold via Instabuy will be bought back on exchanges. We will provide you with info about buyback after it will happen ( can't spread info about it before it happen to avoid manipulations with the price ).

What a great news!
And about Instabuy and buyback program. What does it really mean? You will buy back coins from people? And for what price for market price? For example now you will buy it for 2 USD right?

minexcoin prices are currently decreasing, if two months ago the decline in bitcoin prices had no effect on minexcoin prices but for now it seems different

While BTC dominance is going high and it crushing all markets so hard I don't think it is good advice in especially in that kind of panic situation. If current trend will continue few more days than we have more high chance to see this coin on new low floor.

People should take the advantage of instabuy buy those cheap coin now at max 1btc 😊 and park, rates still at maximum so profit will be good in the long run.

i have one question about minexbank , last time , this afternoon , i put my full amount of minexcoins in my minexbank and choose for 1 month but where normaly is show what the expected return is , it is now showing zero , maybe team can look at this?

yes, it's so cool . I'm not wrong to buy more cheap coins for parking at this time and I'm sure all cards verified will be done in early October .
what do you expect more than minexcoin ? Just collect cheap coins now or you will be regretful later.

personally, i wouldn't have expected anything different. i have however, become a bit fed up of the FUD and whinging people, on this thread, who should really just get out of crypto for their own benefit!

looking forward to a long and fruitful hodl of my coins. (as ever!)

Regarding MinexPay cards

• The first series of cards will most probably be Mastercard.
• We are not disclosing the card issuer yet.
• You can expect the details on the bank (issuer bank?) to be released over the course of the next several days.
• Card deliveries will be made from Kiev, Ukraine.
• We are 98% sure that cards will be sent out this month, however, it is possible that there will be a one week’s delay between the day the cards are sent out and the day they can be activated.
• We are still considering different courier delivery services.
• Direct legal arrangements with Visa or Mastercard has never been a part of our plan. All agreements will be signed with affiliate.
• With the launch of cards, your personal account on minexpay.com will allow operations with web-wallet.
• Prior to launch the app is going through the regulator’s tests. (Regarding question about cybersecurity)
• There will be both VISA and MC cards.

Instabuy

• Coins for Instabuy are «borrowed» from the ICO/Bounty account, and, as such, need to be returned. Buybacks will happen.
• It’s not yet time for buybacks.
• Taking into account the last transactions, so-far around 80k coins have been bought through Instabuy, 27k of them on the Saturday-Sunday night. This was the situation that caused the dump. There’s no such possibility any more.(fixed)
• Instabuy caused the amount of card orders to rise threefold.
• Q: Why not link Instabuy to card addresses only?
  A: We haven’t launched a MinexPay app yet and are not generating addresses for the minimal required (on-hold) amount, so there’s no option to top it up directly via Instabuy. It should be done. The predisposition to price manipulation has been removed. (Talking about Instabuy)

General

• Rebranding is only the change of visual and verbal representation (image?) of the project. There will be no changes to the essence of the project.
• Bounty and ICO coin distribution will be stopped on 15th of October.
• The next major, and only logical, step for the project after the MinexPay is set and functional will be MinexMerchant.
• Please, don’t «harassing» the support team so much. Their nervous system needs some rest as well.
• The next memorandum (and the subsequent decrease in the MinexBank parking rates) will be made with the launch of cards.

even the rank 2 cryptocoin (ETH) is in bearishhhhhh and it doesnt mean a failure and requires vitalik to blame same goes to minexcoin. Its an open-market, anybody can sell and buy the coins. If you have confidence in the project youre free to buy then if not then you are free to leave. Thats pretty simple.

I still believe in this project, i just love the parking feature than POS. Lets just give enough time for this project to be fully developed. 

Lol you can't guarantee 100% the price will up, that just a speculation/prediction from the team based on their project, product & development. You can see other crypto same like MNX. So you think because the price, the project failed?

It most absolutely is true.

This assumes that the 'half' of registered, but unpaid, persons have zero holdings in MNX

As this is still very much an unpublished and niche product, it will only have had registrations by persons familiar with/already holding MNX.

There's already over 4,000,000 mnx in circulation. 10,000 is pocket change. 100,000 even. Most of those people waiting to pull the trigger on the cards will already have the mnx required.

Even if they don't, 100,000 is a single day's volume on Livecoin. You can verify this easily.

You need far more than double a daily volume to significantly move a market.

I'm not replying to belittle you, just pointing out the flaw in your argument with some supporting facts.

This is bullshit.  After 3 months of being live on livecoin, thats when everyone said "now the algorithm can work autonomously." So your comment is bullshit, hope u dont actually believe it and just say it to prevent further price fall

There are many rumors and bad FUDs to be released out after Minexcoin allows users to register visa cards . Do you think if there are anything strange to appear in this stage and who is heading to this fact? what do they want for minexcoin project? Let's think about it before selling because there are many coins to be bought at the cheap price and I 'm lucky to buy some cheap coins for parking on minexbank.

Not true

Lets say theoreticary they relase mnx card soon
The standard one is cheap but even if half of orders will be fullfilled its more than 10000 mnx.
Dont forget the higher cards need 50+ mnx to be frozen . its a huge amount of minexcoin needed to be bough or put away from selling side. Thats your demand. Many people only ordered cards but didnt pay for them because they are not sure if they will be relased. So just theoretically sooner the cards will be working the price go up in a fast rocket

But now the realistic part. If someone else relase his cryptocard in similiar timing and without such ridiculous requirements the minex card will be forgoten and whole system will be a failure

No cries and promises about ecosystem going to save it