Topic: Minexcoin | Minexpay - page 16. (Read 41330 times)

I ordered my card late last year. Any idea what's going on with those? Did anyone from phase 1 of distribution of the cards actually receive it?  I ordered the black card.

As far as I remember, this project was distinguished by fact that it had to completely remove the volatility in the MNX price by keeping  price in a certain range. This is a difficult task and it has failed.

They should manage to establish another new bridge for the card because they have already promised to deliver the cards if they didn't make any improvements then definitely the price of the coin will decrease in the market. If they start doing according to the situation then the community will start believing them again.

It has fallen even lower now:

Minexcoin price has fallen to a new all-time-low

It seems that the team does not give up, and they are trying to establish new bridges with suppliers. But you are right, if they fail, it can be another worthless coin. It should be noted, that the mood and confidence of the holders,  is not in the best shape now. And one more unsuccessful attempt can be fatal for the project.
I sincerely hope that they will be able to stay on the surface.

Volatility is the biggest problem for making payments with cryptocurrency. I hope you can solve this problem and show eveyone " it can be"

All things going wrong here. We have only promises from the team, and nothing more. Now we were waiting two months to run a new card provider and if there something going wrong this will be just another worthless coin.

Oh my God. Price now 0.16$ Something went wrong.
I mined this coin in 2017 and sold for $20.

I don't think this project can recover. Too many attempts to pump the price. Now its a huge sell pressure.

minexcoin at the beginning of the launch until minexbank appeared at that time MNX prices were very good, many people invested in minexbank and I included people investing in minexbank but unfortunately over time MNX prices declined, with the presence of minexpay I thought it would raise MNX prices, but it turns out that minexpay can't help increasing the MNX price  

Yes, if they manage to add extra developments to their roadmap will help the project to increase its demand in the market, last year MNX faced of issues with the negativity from the community makes a negative indication on the project. But with the team activity and their developments will help to increase its demand in the coming days.

yes please do something, algo is sleeping....

A new Minexcoin Wallet/Node v1.3.2 has been released which fixes a critical security bug.  Mandatory upgrade.  The sooner you upgrade, the lower your chances of transacting on an orphan chain.

https://github.com/minexcoin/minexcoin/releases

We want to share it when we will make sure it can be implemented. Yes, you can check our blog for latest updates https://medium.com/minecoin-blog  

I do not understand question 2 well. Do you mean you do not want to share the road map or you want to share that. Actually, I am not that much concerned with the whitepaper for now. Is there anything you are putting in place for the beterment of this project? I see my portfolio sinking always even though alts were seeing some greens the past days.

Recently, we have started to arrange a meeting in AMA format with our CEO on a weekly base. All the questions-answers from the latest AMA session were gathered for interest of those who missed it in real time.

1 – WHAT IS THE UPDATE ON THE CARDS?
ANSWER
See the yesterday post about new card program.

2 – WHEN NEW ROAD MAP?
ANSWER
Road Map is ready but we do want to share it now since it should not look like a promise. Since implementation of these ideas does not depend on us for 100%. We publish it as soon as we will be sure that it is possible to implement it.

3 – WHAT HAS HAPPENED TO THE ALGO, AS THE MNX PRICE DOES NOT SEEM TO BE FOLLOWING THE BTC PRICE AT ALL OF LATE?
ANSWER
MinexBank Algo is devoted to correct supply/demand. It cannot manage this couple if there is no couple - no real demand, in such situation the algo is useless. To make this real demand that will be regulated by MinexBank we are working on the services that will use MNX (using MNX  as a marker of a loyalty program (more MNX - fewer fees) for cards, loans, merchant and future products). 

4 – BORIS/MNXSYSTEMS HAS STATED THAT THE PRICE OF MNX DOES NOT MATTER, HOW DOES THAT CORRELATE WITH THE FUNCTION OF THE ALGO WHICH IS ALL ABOUT KEEPING THE PRICE OF MNX PEGGED TO BTC AND THE TOP 20 CRYPTOS?
ANSWER
It`s misunderstanding, of course, price does matter for the project since with the price fall the project loses its community. I told that the price does not impact on the workflow - we keep on going with developing at any rate.

5 - What do i do with my card that i'm holding? (The upaycard) am i going to get a new one in a couple of months?
ANSWER
We will replace Upay cards with new cards.

6 – HOW CAN WE BE ASSURED THAT THIS NEW CARD WILL NOT BE STOPPED OR SUSPENDED?
ANSWER
Actually, we have no guarantees, moreover each project has such risks. For instance, E-payments and Shift closed their card programs it means that even big and famous projects cannot avoid these risks. Some projects (Wirex) close their programs even before releasing. Sure, it seems that we forecast all the risks with a new contract, that is why we were customizing/adjusting the contract for our project for two months.

7 – WILL YOU BE REVIVING INSTABUY?
ANSWER
For now - no, we do not plan it. You always remind us about instabuy, maybe I will think over reviving now because previously I totally forgot about it))

8 – IF YOU DO REVIVE INSTABUY WHAT MEASURES WILL YOU PUT IN PLACE TO ENSURE THAT MNX HOLDERS DO NOT BUY AT INSTABUY AND THEN DUMP ON EXCHANGES?
ANSWER
No one buys on Instabuy to sell it on exchanges - it`s not economically relevant.

9 – WHAT WILL THE CHARGES AND PERKS BE OF THE DIFFERENT TIERS OF CARD?
ANSWER
Yes, commissions for withdrawing and limits will be different according to an activated tariff plan (more MNX  on hold - less fees and higher limits).

10 – WHAT STEPS HAVE BEEN TAKEN TO ENSURE THAT STYLOPAY IS ABLE TO DE
 AL WITH THE INEVITABLE EMAILS FROM MNX HOLDERS WHO SUSPECT THE GENUINESS OF THE DEAL?
ANSWER
In our contract with StyloPay is clearly written about crypto aspect of the program work. Please note that the contract is between Chain2pay (MinexPay is a brand elaborated by Chain2pay) and StyloPay. MinexSystems is a MinexCoin developer.

11 – WILL STYLO PAY BE ISSUING A STATEMENT TOO?
ANSWER
No, the contract does not state they should. Also they do not have a community so they do not need to post something or to inform someone.

12 -HAS THE TRANSACTION ISSUE BEEN SOLVED SO THAT WE WILL BE SEE TX HISTORY?
ANSWER
Yes, according to the contract we will have a full access to API.

13 – ARE THERE ANY PLANS TO ISSUE A PHONE APP THIS YEAR?
ANSWER
This is the next step after the new card program launch.

14 – HOW IS THE INVESTMENT ROUND FOR OMNI GAMES PROCEEDING?
ANSWER
Institutional investors wait for KPI and markers of the soft launch. We will be able to provide them with represent data in the middle of May. Our further communication will be based on this data. During the soft launch, we receive KPI and markers, and change the monetization model according to the investors` feedback. For instance, on Wednesday 17th we will release the 4.0 version which will be updated with Tournier battles function and motivational advertisement. We have agreed

with a huge publisher and until the end of the month, the game will be released on the soft launch in the USA.

15 –  CAN YOU PROVIDE A LIST OF THE COUNTRIES THAT CAN APPLY FOR THIS NEW CARD?
ANSWER
There is a short list of exceptions where the cards will not work: Democratic People's Republic of Korea, Iran, Crimea region of Ukraine, Venezuela,Afghanistan, Liberia, Moldova, Sudan, South Sudan, Syria and Zimbabwe (this list can be changed).
16 – WHAT IS HAPPENING WITH MASTERCARD ISSUANCE?
ANSWER
Please clarify your question. Which MC cards you are talking about?
17 - WILL THE MNX EARNED FROM THE CARD FEES BE SOLD ON INSTABUY?
ANSWER
Instabuy is closed and we do not have plan when/how to open it again.
18 - IF NOT HOW WILL THOSE MNX BE USED?
ANSWER
Will sell it on exchanges.

19 - WILL WE BE ABLE TO CONVERT MNX TO FIAT STRAIGHT AWAY WITH THE NEW CARDS OR NOT? IF NOT STRAIGHT AWAY, BY WHEN?
ANSWER
For implementation of autoconversion function, cards should not be prepaid but credit. Currently, rules of payment systems do not allow to release a card program with debit or credit cards. Hence with using prepaid cards, it is not technically possible to release cards with autoconversion function.
20.ALL THE MNX COIN THAT THEY EARN FROM THE SHARE OF THE GAME COMPANY WILL BE SOLD ON INSTABUY?
ANSWER
50% will be transferred to MinexBank, the other 50% - to devs funds. We do not plan how to spend funds that we have not earned yet.

BONUS QUESTION
WHEN RECORD interview with Crypto Rich?
Cannot say for sure, will be in touch with CR regarding this question.

There is a live Q n A with Boris, the CEO now on mnx telegram channel. Why don't you go there and read all information or ask something and hope for the answer directly from the CEO.

Does the old cards still works or we need new ones?

Seems like positive up steps. But still new waiting two months. I hope this is not just another promise like many here.