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State of mcxNOW End of December 2013

mcxNOW has been going through some problems lately, claimed to be due to the fast increase in users it has picked up. While this makes some people feel that the excuse is a lie, I can see how it would be possible. With the light Bitcoin has been receiving lately, we have had many people jump on board with various projects in the crypto world. In essence, the population is booming (though I feel that we have more booms to come in the future; we are still only reaching a somewhat small portion of the population right now). The goal of this article is to help understand the state of mcxNOW and what is going on with it.

Adding mcxBUX

One of the additions we can look forward to is called mcxBUX. These can be bought from the site, traded or earned through chatting. If they are bought, owners of mcxFEEs will benefit from the sale. I think the same will also work if they are traded, although I am not sure if partial mcxBUX can be divided up.

The point of mcxBUX is to help reward users for taking part on the site, above and beyond just trading. To earn them, you simply chat. Note that you can not spam, though, as this will have the BUX taken and you will also be banned. So what can you use them for? As of right now, the only thing I am aware of is chat banning others. This is in comparison to how it works now where you can only chat ban using Bitcoin. There are likely going to be other uses for them down the road as well.

v2.1 Upcoming

This is a bit iffy to me. RealSolid (the owner of mcxNOW) stated that v2.1 would be coming before v2.5 or v3.0, and that it was ready a couple of weeks ago but that he “needed an erection” prior to putting it up. He stressed this about a week ago as well, saying that he just was not comfortable enough to trust it out in the public yet. Again, whether or not this is true is anyone's guess, but let us take a look at what is planned with v2.1.

This version is to come with a brand new wallet system that is custom designed. Rather than just taking the Bitcoin wallet, for example, his plan is to design it from scratch to handle some attacks that have been seen (such as flooding his wallet with micro transactions to increase the cost of withdrawing funds). If this works out, it could mean a more stable withdrawal and depositing system as well, where before people had issues from time to time. RealSolid appears to push for stability, and I think if his wallet idea works out it could be a major benefit to the site.

On top of the custom wallet, he is also planning to release the other coins for trading. This means those like Devcoin, among the others. His reason for taking them down in the first place was stability problems, so this could very well be the solution. This will effectively put the site right back where it was, only more stable and with the extra addition of the mcxBUX.

v2.5 Next

I am really not sure what is supposed to be happening with v2.5 anymore. He has been bouncing around quite a bit as to what he is going to be doing for it, and as far as I know ended up turning it in to v2.1 and v3.0.

v3.0 Brings Games

v3.0 is what we are all really waiting for. This is going to bring some games to the site, where people can make bets against each other and do some gambling. The best part about this? mcxFEE holders also benefit from this since any profit the site makes from bets goes right back to the holders! This can increase their value (and earnings) significantly, giving a reason to stick around for the long term and start marketing the fee shares once again.

The first game is planned to be a “mandingo fighting game.” Within it, people can create their own fighting characters, called mandingos, and take them to the ring to fight. Here, people can make bets on who is going to win, just like a real fighting match. The fighting itself is planned to be a game of strategy, rather than luck, so learning how to play it effectively is a must when it comes to earning money off it. As another part of this, it also means that it is more of a peer to peer game than anything, where you are competing against other people, rather than the house. This is something that is rarely seen in the Bitcoin gambling area, and I hope to see it more often! Of course, how this all works out is something that we will just have to see as it happens. For what it is worth, RealSolid has been working on the mandingo game, though, and even had up an early alpha for people to look at a while ago.

mcxFEEs Go Up in Price

mcxFEEs were dropping in value pretty bad when mcxNOW went down. They got to the point where they were around 0.05 BTC (and I am pretty sure they even went below that) due to people dumping them. They have been slowly climbing their way back up, and as of yesterday we are floating around the 0.25 to 0.27 BTC range, which is a pretty good sign considering the last batch of fee shares only sold for 0.40 BTC. We are already about two thirds of the way back to their regular value!

Speculation would say that this is because more people are jumping in to crypto currencies (meaning there will be more trading when the site is released, and therefore more revenue to be shared) and because RealSolid has been showing his work a little as of lately. While we still have no idea when the next update to the site will be rolled out, I believe that a lot of people are scared of missing the boat if they do not jump in right now, as the fee shares will surely be going up in price shortly after. How high will they end up going up? They have a previous cap of around 1.6 BTC each. With all of the new additions, though, I can see them going up even higher than that. The gaming alone could be worth it!

Conclusion

mcxNOW made a lot of its investors uncomfortable or angry, including myself. Over time, though, it has been slowly getting redeemed, pushing the idea that maybe this temporary closing is a good thing. If everything goes with the plan, I think that the new site could be miles above and beyond the old one, bringing in significantly more traders (and gamblers), paying out more dividends and fees, and therefore increasing its value in the process. At this point we are just waiting on RealSolid to start making his next move. Hopefully we see this soon so that we can see how everything is going to work out. I truly believe that we could be in for a pretty nice surprise!

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