Topic: Minexcoin - A new era of payments - page 777. (Read 646965 times)

Hello!

We have started a process on applying to the exchange listing.
For more info: https://blog.minecoin.org/minexcoin-exchanges-5a19572ca7f2

let them choose, we are aware of difficulties, but dont bother them with trivial issue ..

OK, in their proposal they declare a main exchange vs other exchanges, normally it should be enough for bank to be on main exchange, the others will balance by market, and the price could speculate +-5% each day that for most cases is enough after that they have interest rate as an indirect  interposition to control price and in much less cases they should directly interposition market.
sure like all central banks they need good resources (USD+BTC+ETH), if they don't use the resources or they don't have enough, simply the coin fails and become a shit useless code in our wallet.
one issue is that MNXBank do not offer an API for parking functionality, so it cant affect market price quickly.

I think you did not understand the concept of the Minexbank and the whole idea behind the platform. The idea is to create a stable coin, with a price that stays within a certain borders. If the price gets dumped, the staking rewards will go up, this will cause more demand for the coin and the price to get back up. If the price is pumped to much, the staking reward gets decreased and therefor the demand will descend and the price will decrease. So the main goal of this project is to stabilize a coin with more or less a fixed price which is low volatile.

There are 2 problems in the above analysis.

First, how much btc team have for MinexBank? Are btc under the control of MinexBank software or is it require human intervention? If yes how?

Second, MinexBank controls volatility for very short term i.e. for 1 day. But if volatility is for several days in one direction (up and down) then MinexBank should ALSO have a big amount of btc because it already have a fair amount of mnx to cover up the excess in both direction. If price of 1 mnx is 0.0023 btc, then due to dumping for a week it may down to 0.0016. And for price below that everyday MinexBank has to buy mnx against btc.

This is only for 1 exchange. For more exchanges, Minexbank should have account in all exchange to control the volatility.

In my opinion, MinexBank do not have btc under its control and would not buy-sell mnx against btc. Its only purpose is to control parking interest. For more buyers it will decrease interest rates and for more seller it will increase interest rates. That's all.

The thing is that people have too many expectations from this coin and the delay and prolonged nay sayers have made the coin more hyped, If the MNX fails to keep the price stable on exchange then i fear it will hit just like OAX half below the ICO price or even worse.

The coin is going to be listed in exchanger, everyone is waiting. That's the way I think to a coin to be live. If the coin not listed in the exchanger will loose the value and finally there will be no miners interested to mine the coin. Hope the dev soon realize to list in exchangers, I agree hope there will be no delay.

Any updates on exchanges? I read on blog that they have mentioned the priorities only. I dont want this project to delay more so the team please push it on exchange and there we will see the real potential.
At this point speculation has no meaning.

Very good discussion, i wish that it continues.
Refer to WP, this coin should be stable in term of dollar not BTC.
MNX is going to address the problem of speculation and uncertainty of cryptocurrencies using a central bank idea.
You can see the whole crypto market are tightly bind to btc price, so in many cases,  when it goes up bank should decrease intrest and sell mnx in market and vice versa...

I cant wait for the exchanges and will try to buy from the dump of angry bounty hunters.  I believe in the project and the capability of the team. We will know it in the future.

lets see sooner how will the the market reacts for this project from the mixed emotions of the investors and bounty hunters. I will rather wait for the very good price of minexcoin than dumping it in the very first day. Long term holders always win in this kind of game!. 

hope not delay anymore

Such a great news. It's way better than having nothing at all. At least Coin Exchange and Cryptopia is on the list.
I do hope bigger markets will list MNX soon too. Fingers cross
For now, I'll continue to park my coins. Such a great feature having this parking mechanism.

Keep it up Devs.

thank you for so rich text. but Minex bank will not do Interventions for buying or selling coins to keep price on same level. May be there is that mehanism, but it is not for daily use.  parking % will be adjusted like: as price go lower, so the % going higer, and same to oposite way. But price will go up from ICO for 33% yearly. That mean if ICO price now is 0.0023 and parking % is 0.08% per day in one year price must be 0.003059 to keep same 0.08% per day. May be it looks not so much but do not forgot about BTC price rising. Example you invested today 1 BTC(4000$) to mnx for ICO price and You did profitable parking at the moment for one year(70%). So you parked 434.78 MNX, ater one year you will get 739.13MNX on your balance and each coin will be worth 0.003059BTC and it is 2.261BTC(9044$) at todays price. But nobody can know BTC price afer one year.

The Worst Possible to Happen

The higher parking percentage will result to a more coins generated for dumping. Let's say the MNX fell from 0.002 to 0.0019, It is 5% already right. Since the Minexbank algorithm is design to control the coin volatility, Interventions is applied. Wherein Intervensions state that Minexbank will buy or sell Minexcoin. And getting below the price will result to Minexbank buying back MNX and setting the parking percentage higher. Remember that there are total of 237,000 MNX from bounty + 35,000 from Miners + the percentage of people who participated the ICO who are totally angry right now due to delay. Calculate all of that to 0.0019, this will take away 516.8 BTC from Minexcoin. This is the worst possible to happen.

The Bright Side of the Worst

When Minexbank Starts to boughtback MNX, it expand reserves and it increases the parking percentage reward. Making the coin holders to not feel the impact of the Dump . Expansion of Minexbank reserves means a fewer circulation of MNX. Making the coin as stable as possible. As the supply of MNX became thinner, when the demand is building up, the price of the MNX slowly grows.

Who is the winner?(DUMPER VS HOLDER)

Holder
- The longterm hold is the winner. Why? When the dumping happens, Minexbank will increase it's reward. It is the balancing instrument to keep your coin value at a steady 0.002.
Dumper
- You throw away the opportunity of the longterm hold. Longterm hold will not affect your coin value in any way. Even if there's a dump. And you just help the people who wish to stay with Minexcoin in the long run. You also help lessen the amount of  circulating MNX in the market.  

Remember :

If you believe in the project, it is better for you to hold it longer. Remember if the price is going down, Minexbank will carry most of the damage and not you, the holder.


I'm quoting Interventions and stabilization percentage.

Hi. don't say sorry for questions it is normal. Minex bank is ready to change parking % if price will go up ar down from ICO price more than for 2% It is a little bit hard for me to found MNX team answer for that question where was all % changes in one list. About price change for example on Livecoin. MNX have fast network and price at all markets will be plus minus the same. I don't know system how Bank scan price on all exanges, but i know about trading bots. Bots can do that, so I think our bank can do that by the same system.

I'm sorry if i have to ask this, when Minexcoin is already at exchange no matter how small the volume, do Minexbank react to it? How can we know if Minexbank algo is reacting to the market change for example, livecoin? Thanks! Because i believe that is not yet tested. Only the parking was tested.

you can find more info like roadmap in MNX whitepaper https://minexcoin.com/html/download/wpeng.pdf

plus MNX is not a token, but a coin with own blockchain. And you don't need to hold this coin, you can park coins by using MNX bank system and incrase amount of your coins.

Thanks.

We have known several délays but you answer everyday.
Thanks

That s à good news for the listing. To be honest, when I See the number of tokens and your roadmap, i will HODL

Hello maronk,

Thank you! It is good news.

As for markets like Bittrex, as stated in the post, "we are working on applying to US exchanges such as Bittrex and HitBTC. These platforms require specific legal approach so applying will take a while."