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[sepehr]

Coinex price in NXT Asset Exchange amended because of price change in NXT and Coinex Asset NAV.

Now each Coinex Asset on sale for 31100 NXT ≃ 1.01 BTC.

[sepehr]

Hello everybody,

I want to share my valued asset holders what I plan to do.
Please correct me if you find anything not good or not appropriate.

I plan to Issue a new asset, something like CoinexV2.0 and amend something that maybe not good with current asset.

CoinexV2.0 will Consist of the followings:

CoinexV2.0 will pegged to fiat and specially to CNY officially from start.
There will be 300,000 CoinexV2.0 issued.
Each CoinexV2.0 will pegged to 1 CNY at start of each month.
During month the value of CoinexV2.0 will be published here according to trades made and benefits created and it's price may grow.
At the end of the month Dividedns payed and CoinexV2.0 will be pegged to CNY again and this cycle will continue.
Each Current Coinex Asset will equal to 1500 CoinexV2.0 Asset. At the beginning of cycle all asset holders return the assets to us and will receive 1500 CoinexV2.0 per Coinex Asset.
The additianal value of 1500 CNY of Coinex asset which is now more than 1584 CNY (minus half which is my charge) will send to asset holders as Dividedns.
Any new investor should pay as the last NAV published here in this topic and join.
This way users that complaining that Coinex asset is big also can join. Also some confusing about Coinex will be solved. it's officially peged to CNY.

Please let me know your opinion and any idea about the best time to do this migration.
Thanks,
Sepehr

[KarlKarlsson]

Hello everybody,

I want to share my valued asset holders what I plan to do.
Please correct me if you find anything not good or not appropriate.

I plan to Issue a new asset, something like CoinexV2.0 and amend something that maybe not good with current asset.

CoinexV2.0 will Consist of the followings:

CoinexV2.0 will pegged to fiat and specially to CNY officially from start.
There will be 300,000 CoinexV2.0 issued.
Each CoinexV2.0 will pegged to 1 CNY at start of each month.
During month the value of CoinexV2.0 will be published here according to trades made and benefits created and it's price may grow.
At the end of the month Dividedns payed and CoinexV2.0 will be pegged to CNY again and this cycle will continue.
Each Current Coinex Asset will equal to 1500 CoinexV2.0 Asset. At the beginning of cycle all asset holders return the assets to us and will receive 1500 CoinexV2.0 per Coinex Asset.
The additianal value of 1500 CNY of Coinex asset which is now more than 1584 CNY (minus half which is my charge) will send to asset holders as Dividedns.
Any new investor should pay as the last NAV published here in this topic and join.
This way users that complaining that Coinex asset is big also can join. Also some confusing about Coinex will be solved. it's officially peged to CNY.

Please let me know your opinion and any idea about the best time to do this migration.
Thanks,
Sepehr

To me as a non-investor as of now it sounds good. Would most likely invest a little 

[sepehr]

To me as a non-investor as of now it sounds good. Would most likely invest a little 

Thanks a lot for your feedback,
I appreciate it. And welcome you as new investor.

[yassin54]

Now Me too! 

[sepehr]

Now Me too! 

Great!

[marechou]

Indeed as it is valued in CNY, that makes more sense to have an asset pegged to CNY (1 asset = 1 CNY).

So as you are changing the rules (in a good way) is it possible to send directly NXT as dividends? actually reggarding the number of asset it will be much easier, I think now with core dividends you can send dividends (in NXT) to all assetholders with only 1 NXT of fees.

[sepehr]

Indeed as it is valued in CNY, that makes more sense to have an asset pegged to CNY (1 asset = 1 CNY).

So as you are changing the rules (in a good way) is it possible to send directly NXT as dividends? actually reggarding the number of asset it will be much easier, I think now with core dividends you can send dividends (in NXT) to all assetholders with only 1 NXT of fees.

Dear Marechou,
I don't want to waste my money and Asset holders money in exchanges. Our benefits are narrow and wasting them in exchanges is really not realistic.
A one day NXT fluctuations consist of %10 tolerance and BID/ASK spread also the same!

Also when the total amount of dividends grow also this is very hard to find enough NXT other than Pumping the market and someone else dump!

That is why I am not happy with paying dividends in NXT.

But if there is a direct pegged asset to CNY, What if we pay assets in CNY Asset itself?

I transfer real CNY to his Bank account in China and he/she give me the CNY assets and I distribute them to asset holders!

What you think?

[marechou]

I don't understand some poin.

1/ There is an asset pegged to CNY? Ok maybe, but who is emitting these asset? Anyway this is something centralized, not really trustfull anyway like NXT or BTC.
So the plan is to receive as dividends an asset pegged to CNY?
It totally made sense to have your asset valued in CNY but for the dividends there is no need to send CNY....

2/You are affraid to pay dividends in NXT because of price fluctuation + bid/ask spread when your dividends will represent max 10% of the asset value but when people will buy your asset, they will buy it in NXT, and for the 1st month you will have roughly 10 times more NXT to dump than to send as dividends.
So not affraid to dump all these NXT (10 times more) with this bid/ask spread?

3/I don't think your dividends will be enough good to really pump the market (daily volume of NXT = 20.000$), and if so you could do weekly dividends.

[sepehr]

I don't understand some poin.

1/ There is an asset pegged to CNY? Ok maybe, but who is emitting these asset? Anyway this is something centralized, not really trustfull anyway like NXT or BTC.
So the plan is to receive as dividends an asset pegged to CNY?
It totally made sense to have your asset valued in CNY but for the dividends there is no need to send CNY....

Yes, That might be something centralized. You are right. And no plan yet about paying dividends in CNY pegged Asset yet. Just Consulting it now. I still wish to pay dividends in mgw BTC. So I have no hassle of exchanges.

But if there exist no such CNY Asset, I can create one! many chinese may wish to join us and it will have some additional benefit for coinex. We can place a some cost for Incoming and outgoing drafts!

2/You are affraid to pay dividends in NXT because of price fluctuation + bid/ask spread when your dividends will represent max 10% of the asset value but when people will buy your asset, they will buy it in NXT, and for the 1st month you will have roughly 10 times more NXT to dump than to send as dividends.
So not affraid to dump all these NXT (10 times more) with this bid/ask spread?

I prefer people to join Coinex by BTC and some did that. But for the people join by NXT, Normally I exchange NXT instantly to BTC and then to CNY. I never hold NXT because of fluctuations. I'm paying %10 for example monthly dividends and %10 daily fluctuations will kill me!!! So at the end of month I will have no NXT at all.

3/I don't think your dividends will be enough good to really pump the market (daily volume of NXT = 20.000$), and if so you could do weekly dividends.

If I absorb half of what I plan to absorb it will be 150K CNY and if it have 7% monthly benefit it will be 10,500 CNY which is about 7 BTC paying attention to Polonix order book buying 7 BTC will rise NXT price to 3350 while it is now 3150 a %6.3 percent tolerance in price! to transfer 7% benefit. I don't find it rational!

Maybe I misunderstand something! I don't know!

[marechou]

Ok for Mgw BTC then, but you should forget CNY as dividend in my mind.

[sepehr]

Ok for Mgw BTC then, but you should forget CNY as dividend in my mind.

Yes, me too for the moment.

[sepehr]

Coinex Report:               
               
Total Assets Sold:    31            
               
Current Portfolio Combination:               
               
Bitcoin:     0.00   BTC (1CoinExcJvvLEibPQ9F7WtVBXcPixv3CMV)         
Chinese Yen:   40,302.00   CNY         
Iranian Rial:   54,108,000   IRR  ≃   9,784.45   CNY   
American Dollar:    0.00   USD ≃   0.00   CNY    
               
Total Portfolio ≃    50,086.45   CNY         
               
1 Bitcoin =    1622.83   CNY(Huobi) ≃    249.97   USD(Bitstamp)   
               
1 NXT =    0.00003052   BTC (%2.5 less than Bter last)         
               
Each Asset now ≃    1,615.69   CNY ≃    0.9956   BTC ≃    32,624   NXT
               
Each Asset at the start of period ≃    1,460.00   CNY         
               
Increase/Decrease:   10.66%             
               
Description:               
We had %10.66 increase in 22 days. This report created online with last prices from Huobi, Bitstamp and Bter.

[sepehr]

Coinex Report:                  
                  
Total Assets Sold:    30               
                  
Current Portfolio Combination:                  
                  
Bitcoin:     0.00   BTC (1CoinExcJvvLEibPQ9F7WtVBXcPixv3CMV)            
Chinese Yen:   40,526.00   CNY            
Iranian Rial:   50,589,741   IRR  ≃   9,115.27   CNY      
American Dollar:    0.00   USD ≃   0.00   CNY       
                  
Total Portfolio ≃    49,641.27   CNY            
                  
1 Bitcoin =    1790.78   CNY(Huobi) ≃    268.53   USD(Bitstamp)      
                  
1 NXT =    0.00002828   BTC (%2.5 less than Bter last)            
                  
Each Asset now ≃    1,654.71   CNY ≃    0.9240   BTC ≃    32,680   NXT
                  
Each Asset at the start of period ≃    1,460.00   CNY            
                  
Increase/Decrease:   13.34%                
                  
Description:                  
We are growing our roots in the Iranian market and growing our website very smooth. Now we have some orders that we deny to accept. Because we have not enough liquidity to cover them. Currently we accept only orders with more benefits. We had %13.34 increase in our asset from the start of project (25 days). Also please pay attention that half of this benefit is ours and half is for asset holders.
Also one of our asset holders wanted to sell his asset and we buy it yesterday.

[sepehr]

Coinex Report:                  
                  
Total Assets Sold:    30               
                  
Current Portfolio Combination:                  
                  
Bitcoin:     0.00   BTC (1CoinExcJvvLEibPQ9F7WtVBXcPixv3CMV)            
Chinese Yen:   0.00   CNY            
Iranian Rial:   289,898,741   IRR  ≃   53,192.43   CNY      
American Dollar:    0.00   USD ≃   0.00   CNY       
                  
Total Portfolio ≃    53,192.43   CNY            
                  
1 Bitcoin =    1769.73   CNY(Huobi) ≃    264.00   USD(Bitstamp)      
                  
1 NXT =    0.00002650   BTC (%2.5 less than Bter last)            
                  
Each Asset now ≃    1,773.08   CNY ≃    1.0019   BTC ≃    37,807   NXT
                  
Each Asset at the start of period ≃    1,460.00   CNY            
                  
Increase/Decrease:   21.44%                
                  
Description:                  
We had very busy days yesterday and today. And almost good benefit. And you can see very big significant change today afternoon with yesterday morning! We still at day 26 and we made %21.44 benefit! Now it's even bigger than our estimate. Congratulations everybody! 

[sepehr]

Hello everybody,

I want to share my valued asset holders what I plan to do.
Please correct me if you find anything not good or not appropriate.

I plan to Issue a new asset, something like CoinexV2.0 and amend something that maybe not good with current asset.

CoinexV2.0 will Consist of the followings:

CoinexV2.0 will pegged to fiat and specially to CNY officially from start.
There will be 300,000 CoinexV2.0 issued.
Each CoinexV2.0 will pegged to 1 CNY at start of each month.
During month the value of CoinexV2.0 will be published here according to trades made and benefits created and it's price may grow.
At the end of the month Dividedns payed and CoinexV2.0 will be pegged to CNY again and this cycle will continue.
Each Current Coinex Asset will equal to 1500 CoinexV2.0 Asset. At the beginning of cycle all asset holders return the assets to us and will receive 1500 CoinexV2.0 per Coinex Asset.
The additianal value of 1500 CNY of Coinex asset which is now more than 1584 CNY (minus half which is my charge) will send to asset holders as Dividedns.
Any new investor should pay as the last NAV published here in this topic and join.
This way users that complaining that Coinex asset is big also can join. Also some confusing about Coinex will be solved. it's officially peged to CNY.

Please let me know your opinion and any idea about the best time to do this migration.
Thanks,
Sepehr

Guys, what if we hold both assets?
One pegged to Fiat(For example CoinexFiat) and one pegged to BTC(For example Coinex or CoinexBTC)? I hold  an equal amount of BTC assets as BTC as much as possible and hold an equal amount of Fiat Asset  as Fiat and hold overall benefits also as fiat. This way anybody can joins us and even choose how his share to be pegged. What you think? I want to issue new asset asap, so please let me know your opinions.

Thanks,
Sepehr

[marechou]

Hello everybody,

I want to share my valued asset holders what I plan to do.
Please correct me if you find anything not good or not appropriate.

I plan to Issue a new asset, something like CoinexV2.0 and amend something that maybe not good with current asset.

CoinexV2.0 will Consist of the followings:

CoinexV2.0 will pegged to fiat and specially to CNY officially from start.
There will be 300,000 CoinexV2.0 issued.
Each CoinexV2.0 will pegged to 1 CNY at start of each month.
During month the value of CoinexV2.0 will be published here according to trades made and benefits created and it's price may grow.
At the end of the month Dividedns payed and CoinexV2.0 will be pegged to CNY again and this cycle will continue.
Each Current Coinex Asset will equal to 1500 CoinexV2.0 Asset. At the beginning of cycle all asset holders return the assets to us and will receive 1500 CoinexV2.0 per Coinex Asset.
The additianal value of 1500 CNY of Coinex asset which is now more than 1584 CNY (minus half which is my charge) will send to asset holders as Dividedns.
Any new investor should pay as the last NAV published here in this topic and join.
This way users that complaining that Coinex asset is big also can join. Also some confusing about Coinex will be solved. it's officially peged to CNY.

Please let me know your opinion and any idea about the best time to do this migration.
Thanks,
Sepehr

Guys, what if we hold both assets?
One pegged to Fiat(For example CoinexFiat) and one pegged to BTC(For example Coinex or CoinexBTC)? I hold  an equal amount of BTC assets as BTC as much as possible and hold an equal amount of Fiat Asset  as Fiat and hold overall benefits also as fiat. This way anybody can joins us and even choose how his share to be pegged. What you think? I want to issue new asset asap, so please let me know your opinions.

Thanks,
Sepehr

I thought it was easier for you to have all in CNY because of bank transert and other issues?

Don't you risk to loose some liquidity? If for exemple there is much more asset in BTC and few in FIAT, that will not be really good for your business?

But if you think that will not hurt your business in any way I guess it is good.

So the plan would be to get half of the profits on each transaction on bitcoin and the other half in CNY? And grow both asset at the same time, then you have to take care of btc variation (not letting the bitcoin portofolio turned in CNY for too long).

Right now the asset is roughly 1 bitcoin, your plan is to let this asset (current asset) valued at 1 bitcoin? good for investors but you would not have profit for this month.

So that would be very welcome

Anyway congrats for your high performance !

[sepehr]

I thought it was easier for you to have all in CNY because of bank transert and other issues?

Don't you risk to loose some liquidity? If for exemple there is much more asset in BTC and few in FIAT, that will not be really good for your business?

But if you think that will not hurt your business in any way I guess it is good.

So the plan would be to get half of the profits on each transaction on bitcoin and the other half in CNY? And grow both asset at the same time, then you have to take care of btc variation (not letting the bitcoin portofolio turned in CNY for too long).

Right now the asset is roughly 1 bitcoin, your plan is to let this asset (current asset) valued at 1 bitcoin? good for investors but you would not have profit for this month.

So that would be very welcome

Anyway congrats for your high performance !

I think that you are right and this may cause me lots of difficulty on calculations and lots of confusion and maybe incorrect calculations because that some benefits of fiat assets may go to BTC assets and vise versa. And I prefer Simplicity.

So forget the two asset schema.

So I post our plan officially in next post.

[sepehr]

Hi Everybody,

CoinexCNY Asset will be issued with the following conditions:

CoinexCNY will pegged to fiat and specially to CNY officially from start.
There will be 300,000 CoinexCNY issued.
Each CoinexCNY will pegged to 1 CNY at start of each month.
During month the value of CoinexCNY will be published here according to trades made and benefits created and it's price may grow.
At the end of the month Dividends will be paid and CoinexCNY will be pegged to CNY again and this cycle will continue.
Each User have the option to receive their Dividends at the end of month in CoinexCNY or mgwBTC.
Any new investor should pay as the last CoinexCNY value published here in this topic and join.

Our plan is that on Nov 1st:

We ask every current asset holder to transfer his/her asset to us.
We transfer 1460 CoinexCNY(price of BTC at the start of project) per Coinex asset to each asset holder.
We will pay dividends according to users choice(CoinexCNY or mgwBTC)
Anybody failed to do so at that time, will receive his/her dividends in mgwBTC and at any time later within end of 2015 can transfer and receive 1460 CoinexCNY per asset.
We will edit the first post of this thread according to new conditions, and continue this thread.

Thanks,
Sepehr

[sepehr]

A friend of me also joined us with 6 Assets, He paid an equivalent of 6x1,773.08  CNY and joined.
As he had no NXT account, asked me to have his assets in my own personal account.
And as I promised that any transfer to my own account, to be published here, I wanted the community to know about this.

Total asset sold is now 36.

post edit:
According to a mistake the above transaction is for 6.58 asset, because half of amount from 1460 CNY to 1773.08 CNY belong to Coinex team, So the real asset value is 1,616.54 CNY at the time of this post.