The direction of mcxNOW

If you like some excitement in your investment experience, mcxNOW is the perfect place.  By excitement I mean frequent dividend payments, up and down prices on the various currencies, and interesting possibilities as to the direction of the entire venture.

mcxNOW is primarily a trading platform for Bitcoin and nine altcoins.  However it’s clearly interested in becoming much more than a trading platform.  Having mcxFee shares included on the platform begins to blur the line between currency trading and stock trading, but it is just one type of stock.

The dividend payments for mcxFee shares are generated from all the fees collected during the previous six hours.  The assumption is that these fees are generated from trading activities, and that is true to a point.  But then you have the chat window, also known as the troll box, and the pay ban feature.  A significant portion of the mcxFee share dividends come from pay ban, especially on days when people get into pay ban wars, or simply start to annoy each other.  I guess I can technically consider pay ban fees to be trading fees–the commodity being traded would be insults in this case.

But RealSolid has even more plans which will take mcxNOW well into the beyond trading territory.  I catch snippets here and there when I happen to be reading the troll box, but some gambling games on the side have been mentioned as well as something called Microcash.  The impression is that much of those related expansions will generate fees which will of course boost the value of the mcxFee shares.

For the next thirty hours (as of this writing), the remaining 45,000 mcxFee shares are being sold at 0.4 BTC each as an early release which members who previously owned mcxFee shares can take advantage of.  Normal trading of mcxFee shares has been halted during this time.  I believe that when the thirty hours time runs out, then members who did not go into the early release as shareholders can also buy shares for that price.  I’ve noticed some agitation in the troll box as a few nonshareholder members are chomping at the bit to buy shares on sale.

I’m assuming the reason for the early release of the rest of the shares all at once is to raise funds to expand mcxNOW into the various subventures.

I happened to own two mcxFee shares coming into this.  Those would be the two that I bought at 0.8 and 0.85 BTC and then could not sell for over one Bitcoin each as I’d hoped.  Instead I watched the price drop all the way down into the 0.5 BTC range and wondered if I should have bought them the second time around.  So I have the option of buying more of them at the fixed price of 0.4 BTC.

I have bought three more so far, but I have to admit I’m rather ambivalent about it.  The assumption of course is that once trading opens up again, all those who missed out on the sale are going to want to get their hands on some and those of us who did get in on the sale will have the opportunity to sell them off at a nice profit.  That’s what I’m hoping for at least.

But there is a problem right now.  At this point, because of this sale, trading activity in the other areas has slowed way down.  People are saving their Bitcoins for picking up more shares, which means they aren’t spending them on the other alt coins.  That’s not entirely true, of course, but the prices of the alt coins are fairly low and not moving around too much.  The price of Devcoins is very low.  I sold a couple million at 29 sat so that I could buy a couple shares.  Yesterday I sold off my Primecoins at a loss, figuring that the mcxFee share I bought with the proceeds had more potential than the Primecoins I was sitting on.  We’ll see if I’m right.  But naturally dividend payments are lower than usual, which tends to depress interest in buying the shares.

I definitely feel like I am buying these shares based on their potential, not so much what they are worth now.  I do believe their value will grow and I expect RealSolid to be successful with the other things he plans to put on the site.  I’m just not sure if I should be investing in this potential or not.  It is definitely very risky, and each new share I buy represents a significant portion of my Bitcoin holdings.  I’m trying not to get into the frenzy of “Buy now because you will never see prices this low again.”  I’ve seen the value of the ASIC MINER shares climb very high and then drop.  I didn’t have too much invested in them, but the value of what I did have definitely suffered.  I have bought more shares so the amount of weekly dividend I get to collect has increased.  I’m hoping the price stays low for a while so I can buy even more.  My point is that mcxFee shares are likely to go through cycles once trading on them opens up again, and there will always be future buying opportunities.  It’s fine to pick up some shares early on, but it’s really OK to buy shares later too when there are more fundamentals to know about them.

It may be a good thing that I can’t access my Devcoin wallet right now.  It may also be a good thing that Devcoin prices are so low that I really do not want to sell the remainder of my mcxNOW balance.  I would like to pick up a few more shares.  For one I’d like to be able to keep some for the dividends and sell some at a higher price.  But I’m at least prevented from doing so in a hurry.  I picked up two more today, and I figure tomorrow is another day.

The other issue I have to ponder as mcxNOW grows into whatever additional features it’s going to have is the whole idea of profiting from other people’s gambling activities.  I personally do not intend to ever play games of chance on purpose.  All the investment possibilities are gambling enough for my tastes.  But as long as I hold mcxFee shares I will be collecting dividends based on gambling fees once that gets going.  How do I feel about that?

I already benefit from gambling because every time BitVisitor or CoinAd sends me a payment, at least some of that came from me looking at a gambling site.  I think that as long as the gambling sites are clearly indicated as such, people are risking their Bitcoins out of their own free will, and the sites aren’t doing anything wrong.  Apparently enough find gambling profitable or at least entertaining enough to keep doing it.  And if the establishment is willing to share the fee revenue, then why not take some of that?  I’m not settled on that, and I may find my sense of ethics about the whole thing becoming more decisive once that’s actually going on.  For now, I get dividends from actual trading and pay ban wars.  If the gambling side prospers and I decide it’s not for me, then at least I can resell my mcxFee shares at a higher price than 0.4 BTC.

Speaking of gambling as an investment, a few days ago I noticed a site on BitVisitor called Poker by Proxy.  You contribute Bitcoin to your account, and the site’s professional poker players then use your contribution to play the game, and based on how they do, your balance either grows or diminishes.  So if you register for that site, you too can benefit by gambling without having to play the game yourself.  Add poker to your portfolio, the site entices.  This isn’t for me, but it’s certainly an interesting concept.

I think if mcxNOW can go beyond gambling and into other interesting things that can be done with a computer, the mcxFee shares will get even more interesting to hold.  I know that RealSolid is very good with programming and such.  I’ve seen him say in the troll box that the real world is actually quite boring to him in comparison with the kind of worlds that are possible to create with a computer.  I also know that a lot of people like to hang out in virtual worlds and spend cryptos there.  Occasionally I enjoy a good computer game myself, and if there was one I liked, I might indulge myself every so often.  It actually would be kind of fun if the trading platform component of mcxNOW also dealt with whichever currency was used in any of the virtual worlds.

While writing this I read a few more things in the troll box, and Real Solid is working on some kind of computer game in which all the alt coins on the mcxNOW platform would be needed to play the game.  The result would be that those alt coins would then become more valuable and that would encourage others to buy them.

Right now the overall direction of mcxNOW is a bit unclear to me.  But it’s exciting to be involved as a shareholder in the early stages.  It will be fun to see how it develops.  Maybe it’s that excitement that makes me want to have more shares.  Maybe it’s the profit potential.  Maybe it’s just all the creativity that I know goes on behind the scenes.

I’ll be happy once all the mcxFee shares sell and trading resumes.  It’s actually been very quiet over at mcxNOW, and it will be good to see more action again, especially involving Devcoins.  OK, quiet, except for the most recent payban war.

The good news about Devcoins is that for the time being at least, they are on mcxNOW to stay.  It just so happened that Namecoin, which was slated to replace Devcoin, developed some really nasty issue with its coding.  RealSolid decided to not adopt it after all as a result.  I think that was fortuitous, and hopefully interest in Devcoin will grow now as people become aware that it’s staying on the trading platform.  If Devcoin makes it into the game that RealSolid is developing, I’m pretty sure it will stay on the platform for the foreseeable future.

Read The direction of mcxNOW on the Devtome!

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