What standards and requirements will your mining centers comply with?
Topic: 🔥 [ANN] 🔥 [ICO] 🚀 Miner One - Cutting-Edge Bitcoin Mining. 🔵 🔵 Crowdfunded. - page 23. (Read 29670 times)
March 31, 2018, 08:59:45 AM
March 31, 2018, 08:23:54 AM
I’ve heard repeatedly that the MinerOne company socialists were engaged in establishment of big mining centers in the past. Can anyone give at least one example of such mining center?
March 31, 2018, 08:20:13 AM
March 31, 2018, 08:05:53 AM
for those of you considering an investment in One Miner, read this first.
Miner One scammed early investors by lowering MIO token price by half.
Miner One scammed early investors by lowering MIO token price by half.
March 31, 2018, 06:29:05 AM
How much is one MIO token now?
Taking into account a 20% bonus it costs 0,0008 Eth now. March 31, 2018, 06:23:19 AM
How much is one MIO token now?
March 31, 2018, 06:05:43 AM
BTW, for those of you considering an investment in Ice Rock, read this first. Kazakhstan, where Ice Rock is located, is considering a ban on mining and crypto:
https://www.coindesk.com/report-kazakhstans-national-bank-wants-to-ban-cryptocurrencies/
Miner One's mining centre, by contrast, is in crypto-friendly and politically- and legally-stable Sweden. Join our Crowdsale: www.MinerOne.io
https://www.coindesk.com/report-kazakhstans-national-bank-wants-to-ban-cryptocurrencies/
Miner One's mining centre, by contrast, is in crypto-friendly and politically- and legally-stable Sweden. Join our Crowdsale: www.MinerOne.io
March 31, 2018, 03:48:09 AM
When the MinerOne ICO ends?
The sale of MIO tokens will last until May, 5, so u still have time. March 31, 2018, 03:42:44 AM
When the MinerOne ICO ends?
March 30, 2018, 08:18:27 PM
I saw the info on ur website that you can lower mining hardware price significantly. How are u going to do that?
March 30, 2018, 07:08:22 PM
Have ur specialists already prepared building project for the mining center? Where can I see it?
March 30, 2018, 05:47:24 PM
What is the average temperature in the area where u r planning to built a mining center in? It’s important for natural equipment cooling.
From the FAQ (https://minerone.io/faq/):
Quote
Why is the first Miner One mining centre being built in Luleå, Sweden?
In Luleå, electricity is very cheap (we are getting the lowest rates in Europe here at EUR 0.065 per kWh), supply is stable and plentiful (100 percent Green Energy from hydroelectric and wind power), and the climate is cool (average annual temperature is 2C) which keeps cooling costs minimal. By the way, we will have a famous neighbor: Facebook is just up the road with a huge data centre here (the size of 11 football fields).
In Luleå, electricity is very cheap (we are getting the lowest rates in Europe here at EUR 0.065 per kWh), supply is stable and plentiful (100 percent Green Energy from hydroelectric and wind power), and the climate is cool (average annual temperature is 2C) which keeps cooling costs minimal. By the way, we will have a famous neighbor: Facebook is just up the road with a huge data centre here (the size of 11 football fields).
March 30, 2018, 05:00:45 PM
What is the average temperature in the area where u r planning to built a mining center in? It’s important for natural equipment cooling.
March 30, 2018, 03:06:42 PM
How are u going to provide constant electricity supply? Are u going to have a backup power source?
Luleå Energi guarantees stable supply. Now, you may ask - how certain is that? Well, Facebook, which has its largest European data centre just up the road, built its first buildings with backup generators, but found that supply here is so stable that they don't need them and will no longer be building them in their new buildings, according to the representative of the municipality who showed us around.
March 30, 2018, 02:57:33 PM
How are u going to provide constant electricity supply? Are u going to have a backup power source?
March 30, 2018, 02:31:49 PM
The choice of the hardware is the most important part I believe. Have u chosen it already?
March 30, 2018, 02:22:59 PM
Hi all. I thought you might be interested in a Google docs sheet I put together. It has some very conservative projections which may help you decide whether to invest.
I've tried to do some due diligence before making my decision, I've read the whitepaper a few times, read all of the FAQs on the website, watched 4 livestreams on Facebook, researched the principals on the team, and participated in the Telegram group. By the way, side note: all of the support personnel I've dealt with on Telegram have been very helpful. It's not my favorite medium for information, but they've all been pretty good. I've also corresponded briefly with one of the principals regarding getting accredited in the US.
I suggest everyone else does their own investigation and possible projections of outcomes. Read the whitepaper and realize that the initial projections were when BTC was at $14,000USD and difficulty was lower than it is now. Realize that all numbers on the website and whitepaper are good faith estimates and that things change over time.
I am making my decision not on whether I'll get 471% return, or 13% in a month, I believe these are less likely to happen, and we know certainly not guaranteed. If they do happen, that's just a happy bonus. My decision is based on whether it will diversify my investments into a productive venture, is the project likely to succeed in the stated plan. Secondarily, i look to see whether it's better or worse than some other investments I could make, while realizing this is difficult to project.
The spreadsheet I'm linking looks at the cost of BTC today and potential prices in 3 years. It also makes various assumptions, because assumptions are all I can go on. I know how many MIO have been bought, but I don't know the amount of fiat this equates to (or will equate to when they need to purchase hardware), I'm guessing on a number I think the ICO might raise by the end (May 14). You're welcome to change any of the assumptions I made in the spreadsheet in your own downloaded copy.
Assumptions:
As you can see, if BTC stays at $6750, it's better for me to buy BTC at this point than invest in MinerOne given my conservative assumptions. However, if you think BTC will be at $6750 in three years, I guess you wouldn't invest in it anyway. If BTC rises modestly to $11,000 - where we were 24 days ago - I will have more BTC at the end of three years than I could purchase today. If BTC rises to $50,000 in three years, I'd have 30% more BTC then than I could buy now.
Because of these very conservative estimates (pessimistic in fact), I have made the decision to invest myself. My expectation is that the team will be able to beat my numbers, at least modestly and perhaps substantially.
Context: I've bought and currently run mining at home (not BTC), more equipment will be going to co-location in a few months, I've purchased a BTC mining contract at Genesis Mining which is still active. I like the idea of diversifying into a more transparent project where the founders and the supporters interests are aligned. I believe the team is able to execute creating and running a data center, which is largely what a mining farm is. I think the distribution of tokens is fairly equitable (82% to the public purchasers). As stated above, I also think the 23% reinvestment fund is key to success, and keeping a company reserve makes sense also, though hopefully we never have to use it.
I do wish they had immediately converted their ETH to fiat, as other projects I've been involved with did. If you have near-term expenses in fiat denominated prices, it doesn't make sense to hold crypto for a long time. They said they didn't want to time the market, so they didn't sell, but now they're considering delaying purchase of the equipment. How is that not also timing the market? The best thing would have been to get out of the market once you got the payment. Of course I agree that getting out now would also be a terrible idea - yes I realize I'm advocating market timing haha.
Spreadsheet: https://docs.google.com/spreadsheets/d/1VD-G1n5PZj1_d3SQfsyvqyw4BbDTHLn2_gmGzVgYQJY/edit?usp=sharing
If anyone sees any glaring mistakes in my calculations, please let me know. We can debate the assumptions, but everyone is likely to have their own assumptions. If you have a strong argument for why any of my assumptions are poorly made, feel free to discuss.
Lastly, if you've found my efforts helpful to you, and you decide to invest for yourself, feel free to use my referral link to get an extra 4%.
https://wallet.minerone.io/Referal/0af29b2f-567d-453f-9925-859affea46dc
I've tried to do some due diligence before making my decision, I've read the whitepaper a few times, read all of the FAQs on the website, watched 4 livestreams on Facebook, researched the principals on the team, and participated in the Telegram group. By the way, side note: all of the support personnel I've dealt with on Telegram have been very helpful. It's not my favorite medium for information, but they've all been pretty good. I've also corresponded briefly with one of the principals regarding getting accredited in the US.
I suggest everyone else does their own investigation and possible projections of outcomes. Read the whitepaper and realize that the initial projections were when BTC was at $14,000USD and difficulty was lower than it is now. Realize that all numbers on the website and whitepaper are good faith estimates and that things change over time.
I am making my decision not on whether I'll get 471% return, or 13% in a month, I believe these are less likely to happen, and we know certainly not guaranteed. If they do happen, that's just a happy bonus. My decision is based on whether it will diversify my investments into a productive venture, is the project likely to succeed in the stated plan. Secondarily, i look to see whether it's better or worse than some other investments I could make, while realizing this is difficult to project.
The spreadsheet I'm linking looks at the cost of BTC today and potential prices in 3 years. It also makes various assumptions, because assumptions are all I can go on. I know how many MIO have been bought, but I don't know the amount of fiat this equates to (or will equate to when they need to purchase hardware), I'm guessing on a number I think the ICO might raise by the end (May 14). You're welcome to change any of the assumptions I made in the spreadsheet in your own downloaded copy.
Assumptions:
- $6M USD raised in ICO
- 35% of whatever money is available for build-out goes to infrastructure (source: Whitepaper, livestream question)
- Electricity cost is not part of the 4 - 5% maintenance cost (source: common sense, this bitcointalk thread)
- The 23% reinvestment is able to only keep pace with difficulty. Note: This is a conservative estimate compared to the whitepaper, which sees an increasing BTC production over time. I'm hopeful that this happens, but I didn't want to require it to base my decision on. I think the 23% reinvestment rate is a great idea and should be the key to long term success, but again, very conservative approach assuming Miner One can't gain against difficulty.
- Not accounting for any change in ETH because it makes projections too difficult. Even though payments are in ETH, I'm imagining the payout in BTC.
- Not accounting for: Changes in electricity cost or block reward halving (est. 31May2020)
As you can see, if BTC stays at $6750, it's better for me to buy BTC at this point than invest in MinerOne given my conservative assumptions. However, if you think BTC will be at $6750 in three years, I guess you wouldn't invest in it anyway. If BTC rises modestly to $11,000 - where we were 24 days ago - I will have more BTC at the end of three years than I could purchase today. If BTC rises to $50,000 in three years, I'd have 30% more BTC then than I could buy now.
Because of these very conservative estimates (pessimistic in fact), I have made the decision to invest myself. My expectation is that the team will be able to beat my numbers, at least modestly and perhaps substantially.
Context: I've bought and currently run mining at home (not BTC), more equipment will be going to co-location in a few months, I've purchased a BTC mining contract at Genesis Mining which is still active. I like the idea of diversifying into a more transparent project where the founders and the supporters interests are aligned. I believe the team is able to execute creating and running a data center, which is largely what a mining farm is. I think the distribution of tokens is fairly equitable (82% to the public purchasers). As stated above, I also think the 23% reinvestment fund is key to success, and keeping a company reserve makes sense also, though hopefully we never have to use it.
I do wish they had immediately converted their ETH to fiat, as other projects I've been involved with did. If you have near-term expenses in fiat denominated prices, it doesn't make sense to hold crypto for a long time. They said they didn't want to time the market, so they didn't sell, but now they're considering delaying purchase of the equipment. How is that not also timing the market? The best thing would have been to get out of the market once you got the payment. Of course I agree that getting out now would also be a terrible idea - yes I realize I'm advocating market timing haha.
Spreadsheet: https://docs.google.com/spreadsheets/d/1VD-G1n5PZj1_d3SQfsyvqyw4BbDTHLn2_gmGzVgYQJY/edit?usp=sharing
If anyone sees any glaring mistakes in my calculations, please let me know. We can debate the assumptions, but everyone is likely to have their own assumptions. If you have a strong argument for why any of my assumptions are poorly made, feel free to discuss.
Lastly, if you've found my efforts helpful to you, and you decide to invest for yourself, feel free to use my referral link to get an extra 4%.
https://wallet.minerone.io/Referal/0af29b2f-567d-453f-9925-859affea46dc
March 30, 2018, 02:07:29 PM
Nobody is actually sending Miner One USD, as in your example.
OK, lets try again
Imagine you send them 1160EUR and they buy one S9 miner.
8 weeks later someone else sends them 1160EUR and they buy another S9 miner.
MinerOne has now two S9 miners at this point.
Due to the way they distributed tokens you will only get 36% of profits, the other person 64%; meaning someone else is profiting from the ASIC you payed for.
This is not OK.
March 30, 2018, 10:27:18 AM
Thank you, Pokachou. Please also remember that healthy discounts were offered to early investors, so the MIO Tokens obtained at the start of the crowdsale were significantly discounted. Complaining about exchange rate fluctuations that no one can control is not very productive. We tied the price of MIO to ETH because we are using smart contracts to manage MIO Tokens. As for the funds raised, not all of them are in ETH.
That is a lie, MIO tokens at the start where at around 0.53EUR and today they are at 0.27EUR. That is not a discount.
No one is complaining about exchange rates, and no mater how many times you will try to change the subject
it will not change the fact that early investors got SCAMMED
For a long time you were only able to buy stuff on bitmain with cryptos (BCH mainly).
Yes, but they adjust the price based on exchange rate, so it makes no difference if you pay in crypto or FIAT.
You do realize its not a scam in any way? Its unfortunate indeed, but you didn't loose your money. You got less than you could've had but its the same thing as day trading. Do you complain on exchanges as well when you trade your crypto to fiat and then the price changes and you could've bought cheaper/sold more expensive?
Besides Im pretty sure you wouldn't be complaining if ETH price did rise instead of going down because then you'd had had more tokens for the same price in fiat as an early investor.
I understand what you are feeling since I did invest early as well. But I take this as an opportunity to reinvest to get even more tokens now.
Its crypto world so no on can guarantee that you will be winning all the time.
Its written on their site/WP that they are indexed on ETH, and you made the choice to invest knowingly.
March 30, 2018, 01:43:24 PM
I dont agree with the fact that mining hardware is the main part of the business. The crucial pint is the place with a cheap power supply. Have u found one yet?
Absolutely. We have secured access to at least 15MW of Europe's cheapest electricity (at 6.5 eurocents / kWh). And it is 100% green, to boot!
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