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Re: Minexcoin - A new era of payments
by
bitbat45
on 15/09/2018, 01:21:00 UTC
Quote from: Cornett on September 14, 2018, 11:56:27 PM
I'm actually thinking about buying and parking. is it appropriate to buy the price? I know you saw the price of $ 70.

project's team seems to be working on social media.

Don't ask other people for investing advise.  Do research and make your own decision.  My opinion is that if the price stays somewhat stable, the current parking rate is a very good return on your money.  Where else will you get that type of return?
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Re: Minexcoin - A new era of payments
by
bitbat45
on 15/09/2018, 01:14:17 UTC
Quote from: BitPotus on September 15, 2018, 12:37:51 AM
Quote from: drmasa on September 14, 2018, 10:36:02 PM
Quote from: BitPotus on September 14, 2018, 08:48:04 AM
am guessing you are "that guy"....
lucky i am really not that guy. He is my neighbor/friend and I don't think he will sell it now. He is mining other coins now, but parking mnx, so don't have expenses and need for sell.

okay.

just tell him not to kill himself please.

Sadly a lot of people have gotten rekt in this bear market.

https://i.imgur.com/947Qc5L.png

This was posted on twitter recently.



Bear markets happen all the time, mistakes happen, and sometimes you lose money.  Sometimes you lose a lot of money.  Not a big deal, there will be equal times when you make more money than you expect.  Most importantly, stay positive and keep investing in things you believe in.  Eventually it will work out.  Don't try to fix a short term problem with a permanent mistake.  
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Re: Minexcoin - A new era of payments
by
bitbat45
on 15/09/2018, 01:03:35 UTC
Quote from: Fabriz on September 12, 2018, 02:24:34 PM
Quote from: BitPotus on September 12, 2018, 08:17:32 AM
Taking into account the last transactions, so-far around 80k coins have been bought through Instabuy, 27k of them on the Saturday-Sunday night. This was the situation that caused the dump. There’s no such possibility any more

Can you explain how instabuys cause dumps?

Shouldn't it be causing buying pressure?

From: https://medium.com/minecoin-blog/announcement-launch-of-instabuy-refferal-and-cashback-programs-29c398741ff1

Instabuy users just have to send their BTC (or BCH) to the designated address and receive the associated MNX (The supply of MNX will come from Minexcoin’s own funds). Once the transaction is verified and validated, the same amount of MNX will be bought from exchanges and taken out of the market. We endure the hassle, you experience the pleasure!


If 80K was bought via instabuy and those 80K were meant to come out of your own funds and then you are meant to go on the exchange to go buy

those 80K back, does that mean that you intentionally crashed the price so you can buy cheaper?

Can someone explain this to me cause am afraid am a bit thick....

Thanks.



i think he would say people instead buy on exchange used Instabuy, so the market on exchange wasn't equilibrate....80k Mnx in the actual volume are a lot

Instabuy was announced about 28 day ago.  Since then the price of Minexcoin has decreased from ~0.001 BTC to ~0.00031 BTC.  Is sounds like someone was buying MNX with instabuy (coins being delivered from Minexcoin private funds)  and dumping the coins on an exchange.  I also noticed artificially low sell orders (possibly a bot) which continued to push the price lower on livecoin.net over the past few weeks.  Look for yourself.  Not sure why someone would do this unless they were trying to purposefully push the price lower.  In my opinion it wouldn't make sense for the Minexcoin team to push the price lower.  Must have been a 3rd party that would profit if Minexcoin performed poorly.

Also, Minexcoin needs to stick to their word and buy back the coins that were purchased with instabuy.  More transparency and sticking to your word will increase confidence in this coin. 
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Topic
Re: Minexcoin - A new era of payments
by
bitbat45
on 14/09/2018, 01:30:54 UTC
    Quote from: MineCoin.org on September 11, 2018, 03:19:01 PM
    • The next memorandum (and the subsequent decrease in the MinexBank parking rates) will be made with the launch of cards.
    I hope that the Minexcoin team learned from the last time they quickly and drastically changed the parking rates.  That last change triggered the start of the rapid decline in value.  My suggestion would be for all parking rate changes to be made slowly over time and with more transparency.  That is how interest rate changes are made in normal financial markets.  I understand that the parking rate is at the maximum now.  What are the current price targets for the parking rate calculation?  What is the timeline for further decreases?  What is the long term plan for parking rates?  I think this info should be made available or displayed in Minexbank.  Making parking rate announcements in a memorandum makes it look like the team is only reacting to the current situation which is what the algorithm was originally intended to do.  Sticking to a transparent plan would bring more confidence to the project.  We need more confidence right now.  Looking forward to receiving my card!
    Post
    Topic
    Re: [ANN][ICO] Minexcoin - A new era of payments (ICO closed!)
    by
    bitbat45
    on 04/09/2017, 15:41:56 UTC
    Quote from: MineCoin.org on September 04, 2017, 12:04:35 PM
    Quote from: nicewoody69 on September 03, 2017, 09:40:53 AM
    Quote from: nicewoody69 on September 03, 2017, 05:08:17 AM
    Quote from: rube08 on September 02, 2017, 10:36:30 PM
    Quote from: nicewoody69 on September 02, 2017, 10:07:25 PM
    Quote from: bitbat45 on September 02, 2017, 08:01:50 PM
    Minex Devs!  I was part of the ICO and purchased 1098 coins.  When trying to withdraw my coins your system only allowed me to withdraw (Amount: 522.37684991) on Order #4597.  There was no option to change the amount of the withdraw.  I thought that was no big deal and I would come back later to withdraw the remaining coins.  Well I logged back in after about 3 week of waiting the rest of my MNX coins are gone!  My ICO balance now shows 0 MNX!!   I tried contacting you via email but got no response.  Please let me know how you will return my missing coins.  Thanks.  

    Hello Bitbat45,

    I had exactly the same fraudulent experience with the minex team.

    They are now now stealing coins from ICO accounts and covering up with excuses that doesn't make sense. Shame! on Minex Devs.

    Below is absolute BS they sent me after robbing me

    "Hello nicewoody69!

    We reviewed your request about withdrawal MNX from ICO account.

    The calculation is as follows: adding 50% bonus to your initial investment of 0.04095320 BTC gives us amount of 0.0614298 BTC (0.04095320 * 50 / 100), which is then divided to the BTC/MNX rate 0.00230755 = 26.621221642 MNX.
    We calculated and amount for withdrawal was correct, you can check and recalculate too.

    There could be a system error and the amount for the withdrawal is correct (26.621221642).

    But balance is shown incorrectly (52.83126964 MNX). "

    They failed to realize that we also have friends and families who invested same time,  same day and some of them same amount with us without having this same issue but rather than correct their goofs, they are robbing investors. No doubt they will dump it on other investors if by chance they are able to list the coin on an exchange.

    SCAM SCAM SCAM...SHAME SHAME SHAME

    If you have invested .04095230 BTC, that is about right.  I have invested around the same amount and received 21 MNX with 5% bonus.  Not a scam so far.  There are delays and the team communicates on Telegram and the forum on the weekdays.

    @ Rube08. Minexcoin is a mighty SCAM. First look at the BTC/MNX rate used by the Dev/Admin. It is different from what is on the ICO page. On the ICO page it is 0.00231491 while the Dev computed with 0.00230755. (with the rate on the ICO page and their claims, I am suppose to get 26.536 MNX and not 26.621221642 MNX). Someone said they never get anything right. This further supports it and I second it.

    Moreso, If you got about 21 MNX with 5% bonus and I got 26 with 50% bonus, then, you might need to send back some coins to the Dev team. Probably the excess coins they sent you is what they are looking for and maybe that is what is keeping them all messed up and goofy. But...

    Don't be quick to forget that 150,000 MNX coins were suppose to be distrubuted. With the ICO, 288.41712580 BTC was raised when divided by BTC/MNX rate of 0.00231491 we have 124,591.075 MNX raised from the ICO. Thus, there is  25,408.925 undistributed MNX which entitles me to additional 5.411 coins. so if the devs know what they are doing I should have 26.536 + 5.411 =31.947 MNX

    The minex Team have messed up this project. Now they are robbing Peter to pay Paul for their errors.

    @ Minexcoin Admin/Devs, please respond to the write up above. Let people know the truth. Stop robbing and deceiving your investors.
    Hello!


    How you can calculate how many MNX you have from ICO campaign (for example @ nicewoody69 amount):  
    1. @ nicewoody69 invested 0.04095320 BTC
    2. @ nicewoody69 had a bonus 50% so 0.04095320 BTC+ 50% = 0.0614298 BTC
    3. If we adding 50% bonus to @ nicewoody69 initial investment of 0.04095320 BTC gives us amount of 0.0614298 BTC
    4. 1 BTC = 0.00230755 MNX, so @ nicewoody69 total MNX amount is 0.0614298 BTC / 0.00230755 MNX = 26.621221642 MNX.
    So @ nicewoody69 amount for the withdraw is 26.621221642 MNX.  
     
    Why @ nicewoody69 balance is 52.83126964 MNX, but @ nicewoody69 amount for the withdrawal is 26.621221642 MNX?
    Because balance of 52.83126964 MNX it's just a BUG. @ nicewoody69 real balance is 26.621221642 MNX.
    The amount for the withdrawal is totally correct - 26.621221642 MNX.
     

    @ Bitbat45 you send your MNX from the ICO account to the MNXCore. So you can see your MNX balance on the MinexBank web site (https://minexbank.com) or you can see the MNX balance on your MNXCore (wallet).


    I understand the math, but that is not the issue.  The issue is the exchange rate that was shown on your ICO site at the time I purchased during the +20% bonus period was around 0.00109.  This exchange rate was correctly used to credit 1098 MNX to my ICO account, that all worked just fine.  The issue is that at the end of the ICO you decided to change the exchange rate for your own benefit to 0.00230755 and take away more than 1/2 of my coins.  That in my mind is a bait and switch that some other people here are calling a scam.  I think you messed up and you should do the honorable thing and deliver the coins you initially promised to everyone who purchased during these bonus periods.
    Post
    Topic
    Re: [ANN][ICO] Minexcoin - A new era of payments (ICO closed!)
    by
    bitbat45
    on 02/09/2017, 20:01:50 UTC
    Minex Devs!  I was part of the ICO and purchased 1098 coins.  When trying to withdraw my coins your system only allowed me to withdraw (Amount: 522.37684991) on Order #4597.  There was no option to change the amount of the withdraw.  I thought that was no big deal and I would come back later to withdraw the remaining coins.  Well I logged back in after about 3 week of waiting the rest of my MNX coins are gone!  My ICO balance now shows 0 MNX!!   I tried contacting you via email but got no response.  Please let me know how you will return my missing coins.  Thanks.