100.000 MNX coins left Minexbank XVFYK9MgdMDhYwwnTsEkqBFvUytC5QtWE4 due to parking payments.
Now, there are 428386 MNX in Minexbank which is 28.55% of initial sum (1.5 million).
Dude, are you seriously deliberately forgetting to mention the hot wallet?
total coins minexbank available is cold wallet amount plus hot wallet amount
Total amount is 428386 + 91372 = 519758 or 34.7 percent of initial sum
The team isn't blind and sees the number themselves everytime they transfer funds to hot wallet
Minexbank will survive, it will not run out. I'll ask how they will do that.
Theoretically they have other address which they can use for replenishment so there options.
No I dont. Iam talking about Minexbank cold wallet only for a reason. If you look at blockchain history of transactions you can see,till now,coins when go from cold wallet to hot wallet, it is one way trip and soon after they would be distributed to the people which parking contracts expire. That is why Iam always referring to cold wallet as main reference,plus cold wallet is one where 0.5 MNX from each mined block is coming as till now only way of replenishment. November and December are months when 1 year parking contracts expire, so pressure on Minebank will be bigger than usual.I know that team is not blind,but Minexbank lost 2/3 of initial sum during 1 year which is alarming.With present rate of 100.000 coins lose per month,Minexbank has max. 4 months of life.
Minexbank is victim of wrong Minex financial contsruction and its too big interest rate of 70% per year, which generates hyperinflation. Minex can put in Minexbank coins from Developpers fund as a short term solution.It will buy some time,but finally it will bankrupt anyway.
Lowering interest rate will also help Minexbank to survive some more time,but on the other hand will cause that more investors think of it as inusufficient and that lead to more selling coins on market and more pressure on its already low price.We all see that Minex team promise to hold price in +- 5% range completely failed and during year Minex just putting more and more premind coins from theirs reserves in circulation,but never bought it
back.When during 1 year value of company goes down 56x it is disastruos,reflects very bad work of Minex management and non-existing trust of investors in them.Minex team till now proved as completely incompetent both in financial and developping sector,so it is understandable why nobody believe they can make present bad situation better.Too many promises and too many failures to keep them.Minex is now interesting just to speculators which are willing to gamble that price of Mnx will stabalize and grow enough to make some quick profit before it goes down again.