nice increase of the park rate, but unfortunately its because of the low MNX price ... Hope it will recover in some months after everybody accumulated some more...
With a price of 5$ per token the opposite is true, the price is too high for a coin that is mineable. Ask yourself if this coin is worth a marketcap of 95 million(19 million coin times 5$), my answer is no way and i sold all my coins because this coin won't hold this high price.
I know that there are not 19 millions coin yet, hence the "mineable". My point is that the coin is overpriced for what it actually is
It would be interesting to get your understanding of what the coin is and why the price is going up?
Based on your reaction, it appears to me that you are merely projecting what you"think" you know based on the other coins.
May I ask you to read the whitepaper and understand the full depth of the project?
1) Do you know why the Miners are extremely important for the balance of the project? Minexbank replenishment?
2) Do you know why the price is going up? Minexbank parking rates, volatility control (soon)?
3) When you say "for what it actually is", do you know the roadmap of 2018 regarding the Minex ecosystem?
These questions are rethorical of course.
Allow me to educate you here :
a- The miners here have a job a filling the Minexbank with MNX thanks to a 30% fee paid directly via mining reward. The bank is an autonomous tool (not yet) that rewards coin holders for contributing to the price stability and price value.
You get paid by not dumping, and a lot when the sell pressure is high (as you have seen of late). This means that the team has direct (soon) and indirect control of the price, in order to get it stable, or to a more satisfactory value.
The ICo price was 0.0023BTC/MNX. The target for the near future is 20$, first because the available supply is very low. To educate you further, it is not 5.5 millions since the team will not dump their share. The minexbank won't dump 1.5 millions so that goes out of the equation.
Safe to say that the real circulating supply is closer to 3 millions MNX.
b- The price is going up because the Minexbank is providing an interest rate for parking of more than 5% a week. While it is a quite high rate, it is nowhere close to what the team could set if they really want to speed things up.
In their memorandum about the roadmap, they want the price to reach 20$ by the end of the year. at current bitcoin price, that's 0.0032 BTC/MNX.
That means they can directly incentivise people to hold and get rewarded for this. Also, after reaching 20$, the volatility control feature (see the whitepaper) will kick in. If we believe what is said in the white paper, the price will not dump afterwards, but increase at a rate of 42% per year.
Do you see whats happening here? They have means to stabilize an upward trend, reward holders and reach a preset price. And you say you have sold already? This speaks of your blatant lack of understanding.
Moreover, let me remind you that a coin with a stabilized price of 20$ has a certain credibility, that i believe the team wants to reach ASAP. Since MNX is only available on 1 exchange yet, and the volume is still low, they can easily do it. Once its done, the next step is to launch on other plateform and increase the volume, visibility and reach of the entire MNx project.
c- in 2018, the Minex ecosystem will be launched : Minexexchange, Minexchange plateform, Minexmarket and so on. an entire ecosystem based solely for the customer and user. Its very existence is governed by the stability of the price of MNX which makes it a true usable currency.
So apparently, you have no idea what you are talking about here my dear friend.
While ignorance is not a problem if remaining silent, your vocalizing of said ignorance is only harming you
