Ninjastic
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Re: [ANN][ICO] Minexcoin - A new era of payments (Exchange launch - November, 1)
by
fabcl
on 28/11/2017, 19:02:49 UTC
Quote from: felixme on November 28, 2017, 06:44:42 PM
Quote from: fabcl on November 28, 2017, 06:24:31 PM
Quote from: felixme on November 28, 2017, 05:35:49 PM
So is Minexbank doing its job with keeping the price within a 5% daily change range from now on or is that still not a thing? (I’m just asking because if that was the case, I’d sell my coins for $26 and buy again at $21...)

I think you need to re-read the white paper carefully.
Minexbank purpose is not to lock the price within 5% around $20, but to TRY to limit the volatility by limiting the variation around +/-5% compared to the previous day. It could go up to $100 or down to $0, not a problem either way, Minexbank is not here to keep it at $20.

Right now, there's no point in trying to contain the volatility as the demand is too high anyway, but I guess it's a good exercise to calibrate the algorithm to make it able to cope with such a situation later.


Alrighty, then I understood it absolutely right. (Notice: I wrote “5% daily change range”, which essentially means what you said.)

The last part kind of answers the question though.

It's me who didn't fully understood your message then Cheesy
But glad I kinda answered you anyway.