Minex project was designed with pre-build major flaw. It is impossible to have low price volatility and at the same time to give 70% yearly interest which generates hyperinflation in the system.
Attracted with promise of 70% interest rate and promise of maintaining low price volatilty,investors start pouring ,counting on big returns.Too late for them they realized that if someone gives you 70% interest per year,will take you through multiple times bigger inflation not just interest,but big part of initial investment.
Attracted with promise of 70% interest rate and promise of maintaining low price volatilty,investors start pouring ,counting on big returns.Too late for them they realized that if someone gives you 70% interest per year,will take you through multiple times bigger inflation not just interest,but big part of initial investment.
Maybe if they spent less time playing table-tennis and more time actually working they would have made a success of Minexcoin/Minexsystem/Minexpay but now the project is dead.
It is being used to scam newbies and gullible investors in order to siphon-off funds to get ready for the Republia scam
Yeah, they were productive just in one way - to make parts of system who collect money from investors - wallet ,Minexbank, Instabuy
They made OTC option only for buying MNX coins InstaBuy, but not InstaSell as OTC selling option. Money outflow is not allowed
Logically,bank should have both options, Buy and Sell ,as a tools for regulating supply and demand.
It is absolutely necessary if you want to regulate price of coins,like it was promised in whitelist.
Not making InstaSell option was a clear sign that whole project is one way trip.