Before i write anything else I have to say that I am a long term minex hodler
I 100% believe the reason the price has fallen recently is the fact that the interest rate dropped despite the price dropping as well. This was seen when the price was 26-27 range and interest rate was around 18%, the price went to around 25 and the interest rate fell to 16. This is important to note. An interest rate of 18.4% is vastly different from 16.1% when it comes to accumalating more MNX over a long or even short (1-2 year) period of time. The 18.4 interest rate was a big deal because it basically doubles your money every 4 months, while 16.1% only increases it by 180% every four months. More importantly, this drop in interest shows that the interest rate will probably drop again soon and eventually stabilize at a very low rate. This definitely drove some people off the coin, because unless you believe that the price of MNX will rise, the potential to make money through MNX is greatly stifled by this.
I would be lying if i said i wasn't a dreamer who hoped that 18.4% interest rate would remain for 2-3 years and I would become a millionaire, but I think there is more value to this coin than just the interest rate.
I 100% believe the reason the price has fallen recently is the fact that the interest rate dropped despite the price dropping as well. This was seen when the price was 26-27 range and interest rate was around 18%, the price went to around 25 and the interest rate fell to 16. This is important to note. An interest rate of 18.4% is vastly different from 16.1% when it comes to accumalating more MNX over a long or even short (1-2 year) period of time. The 18.4 interest rate was a big deal because it basically doubles your money every 4 months, while 16.1% only increases it by 180% every four months. More importantly, this drop in interest shows that the interest rate will probably drop again soon and eventually stabilize at a very low rate. This definitely drove some people off the coin, because unless you believe that the price of MNX will rise, the potential to make money through MNX is greatly stifled by this.
I would be lying if i said i wasn't a dreamer who hoped that 18.4% interest rate would remain for 2-3 years and I would become a millionaire, but I think there is more value to this coin than just the interest rate.
Thank you for one of the most entertaining posts I have seen in awhile.
Can you please show me where I can go to find a better interest rate than 16.1%/month?
Not to mention, instead of explaining how the parking system works over time, if you are a long term hodler of the coin, have you ever considered just reading the whitepaper?
