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Fintech Volatility Regulators MINEXBANK Hit the Exchanges with their Autonomous Algorithm Project, See a 9-Fold Increase in Price

Bitcoin Press Release: Minexcoin celebrate their third week of being officially exchange listed, and announce a 900% increase in price over that time frame, seeing recognition from CoinMarketCap as one of their “Biggest Gainers”

November 22nd , Hong Kong, China – About three weeks ago Minexcoin was listed on exchanges and presented a Memorandum of the autonomous algorithm for volatility regulation, known as MinexBank. We took a second look at this project to see how’s it going.

In a matter of weeks, MNX managed to achieve a 9-fold increase in price, and got into the “Biggest Gainers” list on CoinMarketCap, and strengthened at the price of $11. Now, as developers explain, the algorithm is being calibrated and the control over volatility will be ensured after reaching a price of $20 per coin. For those who are looking for mid- and long-term investments, it would be useful to read the Memorandum again.

MINEXBANK MEMORANDUM

for the period of 2017-2018

Dear members of Minexcoin community and the cryptomarket participants.

While entirely recognizing our responsibility to reach the main goal of Minexcoin project, namely, securing MNX with the status of reserve currency on cryptomarket, we at MINEXBANK would like to address you with this Memorandum.

From the moment of starting MNX trade at the stock exchanges on November 1, 2017, MINEXBANK is going to consistently process complex financial policy which aims to ensure the following macroeconomic indicators:

  • Reach the exchange rate of 20 USD/MNX in the near future – average rate through the basket of the top 10 cryptocurrencies.
    Provide an increasing exchange rate of MNX to USD upon reaching the above-mentioned rate by the end of 2017 on the basis of 42,7% annual growth. This level corresponds to average annual growth of market capitalization of the top 10 cryptocurrencies in 2016 – Q1 2017.
  • Next revision of the MNX growth rate to USD will be effected on March 1, 2018.
  • After March 1, 2018, the average annual growth rate of MNX to USD would be revised upwards based on realities of cryptocurrency market development. This is characterized by the significant growth of joint market capitalization in 2017 as compared to 2016.
  • The base annual parking rate of MNX will be reviewed every 6 months based on the assessment of changes occurring in the cryptocurrency market for the expired period. Based on the analysis of the growth rate of the cryptocurrency market for the last 6 months, the base annual parking rate is set at 85% now.
  • Special reservation: During the three months from November 1, 2017, there will be a period of creation and development of the MNX exchange market. The market will be formed in stages due to different terms of trades launching on various exchanges. In addition, there will be a process of testing and debugging the algorithm of Minexbank’s operation in real conditions (the development of a database and response tools). Therefore, deviations from the real macroeconomic parameters declared in the Memorandum are possible in the first three months.
    MINEXBANK will seek to achieve the above-mentioned indicators using corresponding parking rates of MNX or with direct BTC or MNX interventions, if necessary.

The total volume of preliminary MNX emission is 5 500 000 MNX. MINEXBANK’s reserve is 1 500 000 MNX out of the above-mentioned amount. The developers’ compensation is 1 000 000 MNX.

Developers have decided not to bring their coins to the market until the end of 2017. Hence the net money supply is 3 000 000 MNX while MINEXBANK reserve is 50% out of the net money supply. This testifies high level of the Bank procedures’ durability provided to stabilize the MNX market.

With the increase of the MNX volume in the market due to additional emission (work and miners’ reward) a gradual replenishment and increase of the reserves amount will be required. This growth will be ensured by a progressive percentage of deductions in favor of MINEXBANK for each unit unraveled by the miners:

  •   Blocks       1 – 900 001 = 20%
  •   Blocks       900 001 – 1 800 000 = 30%
  •   Blocks       1 800 001 – 2 700 000 = 40%
  •   Blocks       2 700 001 – 3 600 000 = 50%
  •   Blocks       3 600 001 – 4 500 000 = 60%
  •   Blocks       4 500 001 – 5 400 000 = 70%
  • After the coin issue is completed, starting from block number 5 400 001, miners will deduct a fixed 70% in favor of MINEXBANK.

We’d like to pay special attention of the MNX market participants to the following circumstance. MINEXBANK’s activity will be aimed at keeping the MNX quotes to USD within the 5% range of fluctuations relative to the representing the estimated growth rate of 42,7% per annum from the rate of 20 USD/MNX.

MINEXBANK urges all market participants to refrain from making deals outside the 5% corridor of  the exchange rate fluctuations in order to avoid possible financial losses.”

About MinexSystems

Minex Systems Limited”, a Hong Kong registered company, specializes in the blockchain product development. The company offers solutions which include the best of both conventional financial system and cryptocurrency ecosystem, and works on the unified Minex Platform. To date, the flagship product is an autonomous algorithm for controlling the volatility of MinexCoin named MinexBank.

Visit the Minex Systems Website: https://minexsystems.com/
View the Memorandum:https://minexbank.com/index.php?r=site%2Fmemorandum

 

Disclaimer: Minex Systems is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. ROI cannot be guaranteed. Readers are urged to make investment decisions at their own discretion and the company will not be responsible for the outcome of such decisions. This press release may contain certain forward-looking statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations they are based on will occur.

The post Fintech Volatility Regulators MINEXBANK Hit the Exchanges with their Autonomous Algorithm Project, See a 9-Fold Increase in Price appeared first on Bitcoin PR Buzz.

Source: Bitcoin Press Releases
Fintech Volatility Regulators MINEXBANK Hit the Exchanges with their Autonomous Algorithm Project, See a 9-Fold Increase in Price

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

Fiat currencies make us mean and inhumane, according to most money research. On the other hand, cryptocurrencies might bootstrap humankind with more compassion, tenderness, and love. These digital assets could disrupt our psychology and increase human happiness. It’s in the nature of how these currencies function. 

Also read: Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 1)

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

That said, if fiat currencies do exacerbate or even cause the money-empathy gap, and other negative psychological phenomena, how does cryptocurrency negate that? Before delving into the psychology of cryptocurrencies, it is important to examine how cryptocurrencies are different from fiat monies.

Cryptocurrency: A New Kind of Money

Cryptocurrencies by their nature were meant to alter human psychology. They were created by crypto-anarchists for the purposes of reshaping the social order — by undermining a system that was erected on the blood and sweat of the people. In this sense, whenever someone creates technology to alter society, it also augments human behavior. Digital currencies do this because they have several properties that fiat currencies do not possess.

Decentralization

Cryptocurrencies are decentralized. This means there is no single point of failure. There is not a centralized honeypot for bureaucrats, thieves, or bankers to collect data from or steal from.

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

Decentralization is the crux of this technology. It means cryptographic systems are spread throughout a vast network of interacting and cross-communicating computers. In this manner, if one computer — or node on the network — fails, the network will still chug along.

Peer-2-Peer 

Another important aspect of blockchain-based cryptocurrency is they are peer-to-peer networks. This suggests all transactions occur between Alice and Bob. There is no trusted intermediary needed to intercede on behalf of the transactors. They simply make the exchange and go about their business.

This sounds like a simple idea, but it is really grand in the current financial environment. Most credit and electronic transactions that take place within the fiat system pass through a gatekeeper. This is a company or institution than skims profits off the top off all exchanges that occur within the system. It is a middleman that hijacks part of the value exchanged between two people.

Borderless and Permissionless

Furthermore, cryptocurrencies like bitcoin are also borderless and permissionless. This means transactions can travel beyond artificial constraints such as national borders, and generally at low cost. This automatically instills people with the idea the dollar or other fiat currencies aren’t superior kinds of money.

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

These digital currencies are also permissionless, which means that anyone can build them or change them. In this regard, many of them are open source. They do not require permission from authorities to build or upgrade. Anyone can write some python code and create new money to their heart’s content.

In the future, there may be Alice coin or Bob coin. There might be a digital token for anyone who wants them. This radically changes the way humans relate to each other concerning exchanges of value.

Psychological Differences Between Fiat Money and Cryptocurrency

The aforesaid features are what ultimately allow cryptocurrencies to start rewriting the firmware of human psychology. Since fiat currencies are controlled by banking cartels and central governments, people’s psychology — their behavior, emotions, and thought processes — become intertwined with the currency.

This creates a master-slave dynamic in regards to fiat currency. It creates a psychological scenario where people who have it, consciously or unconsciously, associate it with power and control. In other words, fiat currency overrides our neural networks and makes people mean. It disintegrates people’s innate proclivity to empathize, as demonstrated by the money-empathy gap experiment.

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

Cryptocurrency, on the other hand, represents a different dynamic. It is a network dynamic that is based on the underlying principle of connection and sharing and cooperation.

Friend-Friend dynamic

This new friend-friend dynamic crops up as a result of cryptographic features. These are the characteristics of decentralization, peer-2-peer transacting, and borderless and permissionless trading. When these emergent properties of computational monetary systems arise, it changes the way people feel about each other in relation to money. People now view each other as partners or ‘friends’ in a forward-moving, cooperative financial economy.

To wit, people have reason to be more compassionate. They are no longer being bombarded by money that is associated with greed and power. They are interacting with a paradigm that is based on algorithmic fairness. We can already see this manifesting in society. In a previous article on the topic, I mentioned my colleague Jamie Redman and his perception of the wealthy in society:

For example, Bitcoin enthusiast and Journalist Jamie Redman of news.Bitcoin.com is known as the family man of Bitcoin. He chats with his children about money and the promise of cryptocurrency, and does not despise either the rich or poor. His mentality may be unique, but it seems to foreshadow the idea that Bitcoin is altering our psychology. Vice even wrote an article about his family-oriented ideals called “Meet the Bitcoin Family.” This means things are changing for the better.

Nature Via Nurture in Economic Systems; Holarchy Versus Aggressive Hierarchy

Some people, however, argue all money leads people to become evil and greedy, hence the phrase “money is the root of all evil.” It is not money that leads people toward evil and greed, though. It is more likely the structure and function of institutions exacerbate phenomena like the money-empathy gap.

When the game is rigged so there are few winners and many losers, people turn hostile and aggressive. They lose their ability to connect and empathize with others.

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

This results from the interaction of the environment with a person’s genetics. It is not that people are genetically geared to fight each other or be inhumane. It is just human behavior transforms to match the style of environment they populate. In other words, nature via nurture oftentimes determines our behavior, especially in the realm of economics and money psychology.

In this sense, if the structure of society and its monetary system is refashioned to represent a holarchy rather than aggressive hierarchy, it is likely people’s economic and psychological behavior will change with it. This would lead to more compassionate, empathetic, and care-giving lifestyles. This is what cryptocurrencies are in the process of doing.

The Rise of Cryptopsychology

Even though bitcoin and cryptocurrency herald a new paradigm of compassion, the true nature of their ability to shift human psychology has yet to be seen. There has not been much research on whether cryptocurrency interactions change psychology; but because of how human psychology functions environmentally, cryptocurrencies are already reshaping humanity — making people more compassionate and loving.

I call this new realm of inquiry crypto-psychology. It is a field that would explore how blockchain technology, cryptocurrency, and other innovative technology changes how we think and perceive. My guess is that it will open a Pandora’s Box of new insights, and that we will see how flexible human nature is when trustless protocols unfetter everyone from the dominator culture in which we dwell.

Do you think have more wealth causes the money-empathy gap? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

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The post Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2) appeared first on Bitcoin News.

Source: Science of Crypto
Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)