[MXC] MXC Foundation

This is a copy of what i posted on the official MXC_Foundation subreddit with some minor edits. I’ll explain why by the end of this.
I’ve been into mining since the early antminer s9 and GPU mining days. Recently heard about the M2 Pro and thought i’d go for it. I bought one even though i was a bit skeptical about this whole thing but, now things are starting to become fishy.

  1. When i first bought the miner they claimed that they’ve shipped hundreds of miners to my country and shipped them using DHL. When it arrived in my country, MXC foundation had no idea about the document requirements for customs clearance so i had to manually contact them to get the documents specifically made for me to clear them.

  2. When you withdraw your MXC, lets say all of it, the fuel goes back to 0. Once its 0 any new tokens you mine (now at lower efficiency) continue to increase the size of your fuel tank. So the algorithm is FuelTank = x + new mined mxc EVEN if its less than 100% full. This makes it mathematically impossible to recover 100% of your tokens by mining alone forcing you to buy mxc or top it up manually. This violates the promises they made and things they explained on discord.

  3. Why not make it so your MXC wallet tokens, staked or not, work as fuel instead of a separate wallet if the whole point of this algorithm is to make people hold onto their mxc for longer periods of time? This is because their “Fuel Tank” is not your wallet if it even if a wallet to begin with, its under their control. You are not getting paid unless the tokens are in YOUR wallet. According to their statements this fuel is “easily accessible liquid MXC” and according to calculations these seem to be ungenerated tokens which are only generated later once you withdraw it.

  4. I accidentally bought europe version of the m2 pro and i am in asia, there is absolutely no difference in the amount of mxc i earn.

  5. They recently added BTC “mining”. While all you’re doing is, locking your MXC and getting rewarded in BTC. Thats not “mining” as they claim or is it?

  6. They banned people from telegram and discord because they’re criticizing the project.

For all i know this could be a great project and i really hope it is but things are looking very odd. Be careful with MXC and their M2 Pro Miner.

[I just got banned from MXC subreddit because of this post btw]

1 Like

They have been all over the place.
I have 5 from before the “fuel” change. I’ve more than recouped my cost, but yes, the lack of control and the erratic changes have given me pause.
It’s up to you, but consider going for break even, then yank your coins. You’ll still have a paid for miner that’s chugging along at 20%.
Supposed to be 40%, but that’s another unilateral change they made.
But even at 20%, thats $60 USD a month (currently) On a free and clear miner with almost zero electric cost.

I suspect they’re about to change to paying with a “basket of coins”, including the currently worthless in the USA DHX. Keep an eye on their Discord.