⚡️⚡️[ANN] ⚡️⚡️ MinedBlock ⚡️⚡️ STO Live NOW⚡️⚡️ Fully Managed Mining Service ⚡️⚡ - page 61.

ganeshramk

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Quote from: Sozialtourist on March 17, 2019, 11:03:38 AM

For the question of profitability it mostly depends on the costs of your energy source. Even the newest and best mining equipment cannot be profitable if you have high electricity costs at your location.

Project choose their mining locations based on the energy price in that location. Do we already know where Minedblock is going to have their facility?

Sozialtourist

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Activity: 686

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Quote from: Nathan01 on March 17, 2019, 09:38:33 AM

Quote from: Sozialtourist on March 15, 2019, 06:05:40 AM

Quote from: Nathan01 on March 15, 2019, 01:39:07 AM

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

There is a part in their whitepaper about this. Since they want the possibility to mine a broad range of different cryptocurrenies, depending on which is the most profitable at the given moment, they will use a mixture of both ASIC miners (mainly Antminers from Bitmain) and GPU mining rigs.

I learnt that this may not be entirely profitable in the long term, I really can't remember exactly the current machines said to be 100% profitable but it will be nice for the team to look into this as well

For the question of profitability it mostly depends on the costs of your energy source. Even the newest and best mining equipment cannot be profitable if you have high electricity costs at your location.

Nathan01

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DocTailor IEO on Zloadr

Quote from: Sozialtourist on March 15, 2019, 06:05:40 AM

Quote from: Nathan01 on March 15, 2019, 01:39:07 AM

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

There is a part in their whitepaper about this. Since they want the possibility to mine a broad range of different cryptocurrenies, depending on which is the most profitable at the given moment, they will use a mixture of both ASIC miners (mainly Antminers from Bitmain) and GPU mining rigs.

I learnt that this may not be entirely profitable in the long term, I really can't remember exactly the current machines said to be 100% profitable but it will be nice for the team to look into this as well

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: luksbit on March 16, 2019, 06:17:22 PM

Since MinedBlock is a STO-based security token project, can Tokens be sold or listed on exchanges? Will mining only be in BTC and ETH, or mining other Altcoins?

Tokens will probably be tradeable on special security-token exchanges, like tZero and OpenFinance Network (https://bitcointalksearch.org/topic/m.49738291).

And about the currencies that they are going to mine: Pretty sure it won't be just BTC and ETH. Their whitepaper also mentions Dash, BCHABC and LTC. I guess it will mostly depend on which currency is the most profitable at the moment.

Pricebrianer

jr. member

Activity: 364

Merit: 3

This is the first time a blockchain based mining project would be giving STO tokens. You plan to provide the mining facility, equipments, maintainance and mining service for multiple currencies to keep mining profitable. Do you have an experienced mining team?

ning_aric

full member

Activity: 826

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I think there should be a counter on your website showing the progress of the token sale and amount of time tokens sold. When do investors expect first return from mining after the token sales is over?

luksbit

sr. member

Activity: 1204

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Since MinedBlock is a STO-based security token project, can Tokens be sold or listed on exchanges? Will mining only be in BTC and ETH, or mining other Altcoins?

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: dcoolguy84 on March 16, 2019, 03:49:46 PM

Quote from: Sozialtourist on March 16, 2019, 10:09:22 AM

Quote from: ning_aric on March 16, 2019, 02:28:00 AM

Quote from: Nathan01 on March 15, 2019, 01:39:07 AM

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

They plan to use ASIC miners but I’m not sure the miners has been purchased just yet. They should do more research on the best miners available and get them at the best price.

Of course they haven't bought them yet. And they already decided which ASIC miners they will buy (page 12 in the whitepaper): Bitmain Antminer S9, Antminer L3++ and Bitmain Antminer D3. Maybe they can get them at a reduced price if they order them directly from Bitmain?

I guess thats from their initial plan, it may change at time of actual GPU Rigs pricing when they will actually begin hardware setup buying.
May be more recent upgraded version would be available by then.

It will mostly depend on when they are going to buy their mining equipment. If Bitmain releases newer/better versions of their Antminers in the meantime, I am sure they will consider getting the latest versions of them.

dcoolguy84

copper member

Activity: 425

Merit: 0

Quote from: Sozialtourist on March 16, 2019, 10:09:22 AM

Quote from: ning_aric on March 16, 2019, 02:28:00 AM

Quote from: Nathan01 on March 15, 2019, 01:39:07 AM

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

They plan to use ASIC miners but I’m not sure the miners has been purchased just yet. They should do more research on the best miners available and get them at the best price.

Of course they haven't bought them yet. And they already decided which ASIC miners they will buy (page 12 in the whitepaper): Bitmain Antminer S9, Antminer L3++ and Bitmain Antminer D3. Maybe they can get them at a reduced price if they order them directly from Bitmain?

I guess thats from their initial plan, it may change at time of actual GPU Rigs pricing when they will actually begin hardware setup buying.
May be more recent upgraded version would be available by then.

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: ning_aric on March 16, 2019, 02:28:00 AM

Quote from: Nathan01 on March 15, 2019, 01:39:07 AM

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

They plan to use ASIC miners but I’m not sure the miners has been purchased just yet. They should do more research on the best miners available and get them at the best price.

Of course they haven't bought them yet. And they already decided which ASIC miners they will buy (page 12 in the whitepaper): Bitmain Antminer S9, Antminer L3++ and Bitmain Antminer D3. Maybe they can get them at a reduced price if they order them directly from Bitmain?

ganeshramk

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Activity: 868

Merit: 104

Quote from: Sozialtourist on March 15, 2019, 04:39:06 PM

According to the thread title, the pre-sale should be running now for almost a month and should be over soon? Do we already have any information about how much money they have raised so far? Couldn't find anything on their website.

I was actually trying to find information on how much they have raised till now. But no success. A team member here can help with that may be..

ning_aric

full member

Activity: 826

Merit: 102

Quote from: Nathan01 on March 15, 2019, 01:39:07 AM

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

They plan to use ASIC miners but I’m not sure the miners has been purchased just yet. They should do more research on the best miners available and get them at the best price.

Sozialtourist

full member

Activity: 686

Merit: 101

According to the thread title, the pre-sale should be running now for almost a month and should be over soon? Do we already have any information about how much money they have raised so far? Couldn't find anything on their website.

dcoolguy84

copper member

Activity: 425

Merit: 0

Quote from: Getadaaa on March 14, 2019, 03:48:46 PM

Quote from: Sozialtourist on March 13, 2019, 04:00:08 PM

Quote from: dcoolguy84 on March 13, 2019, 01:31:52 PM

Yes, thats right. Only worry is how balance is maintained in mining profit distributed and buy back portion.

That was already discussed if I remember correctly. One of the team confirmed that they will use 10% to cover operational costs, distribute 75% to token holders and use the remaining 15% for the expansion of their business and to buy back tokens.

They did a great job with the percentages. Just a quick reminder it states in the whitepaper that 95% of company is owned by token holders, and which is distributed in this order.

Thanks for reminder. Yes, whitepaper talks about it too. I find team wants to keep as much transparency as they can, which is good for gaining trust in this market.

Sozialtourist

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Activity: 686

Merit: 101

Quote from: Nathan01 on March 15, 2019, 01:39:07 AM

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

There is a part in their whitepaper about this. Since they want the possibility to mine a broad range of different cryptocurrenies, depending on which is the most profitable at the given moment, they will use a mixture of both ASIC miners (mainly Antminers from Bitmain) and GPU mining rigs.

Nathan01

member

Activity: 728

Merit: 11

DocTailor IEO on Zloadr

I like the team here to talk about the machine they aim to use in the mining service, I learned using ASIC is not economically feasible and unsustainable, how does the team aim to make money from their operation?

em777

jr. member

Activity: 574

Merit: 1

when you are fed up transfer your crypto to me

Quote from: Sozialtourist on March 14, 2019, 05:09:53 PM

Quote from: ning_aric on March 14, 2019, 03:41:21 PM

Quote from: Sozialtourist on March 14, 2019, 08:13:21 AM

Quote from: ning_aric on March 13, 2019, 04:43:22 PM

I understand Minedblock is licensed to sell their tokens unlike most mining project scams, but older mining projects like genesis had to cancel unprofitable contracts due to the price of BTC falling and mining hashrate going higher, how does Minedblock plan to realize profits both for themselves and token holders in a bearish market trend?

That's something I am also wondering. When they are calculating with electricity costs of around $0.044 per kWh, what would be the price of BTC (or the other crypocurrencies that they plan to mine) where they break even?

I know they would get cheaper electricity as well as some other mining cost, but how about in the long term? I want to know how they plan to keep making profit if BTC/altcoins goes lower.

That's exactly what I wanted to know. It's not sure that the crypto market won't go down even lower this year. But how much lower could it go before mining wouldn't be profitable anymore for MinedBlock?

i dont believe the market is going to get lower considering the fact that it has stayed at this current level for quite sometime now i expect the market to recover instead

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: ning_aric on March 14, 2019, 03:41:21 PM

Quote from: Sozialtourist on March 14, 2019, 08:13:21 AM

Quote from: ning_aric on March 13, 2019, 04:43:22 PM

I understand Minedblock is licensed to sell their tokens unlike most mining project scams, but older mining projects like genesis had to cancel unprofitable contracts due to the price of BTC falling and mining hashrate going higher, how does Minedblock plan to realize profits both for themselves and token holders in a bearish market trend?

That's something I am also wondering. When they are calculating with electricity costs of around $0.044 per kWh, what would be the price of BTC (or the other crypocurrencies that they plan to mine) where they break even?

I know they would get cheaper electricity as well as some other mining cost, but how about in the long term? I want to know how they plan to keep making profit if BTC/altcoins goes lower.

That's exactly what I wanted to know. It's not sure that the crypto market won't go down even lower this year. But how much lower could it go before mining wouldn't be profitable anymore for MinedBlock?

RedenBlack13

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Activity: 462

Merit: 100

0x773f017A00F1eD28a18bC9dE6bc72e5Ea3EcBA3d

Quote from: dcoolguy84 on March 12, 2019, 01:48:17 PM

Quote from: RedenBlack13 on March 12, 2019, 06:54:07 AM

Quote from: Getadaaa on March 10, 2019, 06:07:09 PM

Quote from: RedenBlack13 on March 10, 2019, 05:17:26 PM

Quote from: Pricebrianer on March 10, 2019, 04:52:34 PM

Mining is the basis of true decentralized cryptocurrencies. But with the cost of mining and difficulty getting higher and with the need for bigger equipments, most people have lost interest in the oldest way of earning free cryptocurrency.

It's not actually free. Mining in this moment is not always profitable and the impact due to the amount of energy is relevant. These are problems that the crypto ecosystem must solve to evolve.

You don’t pay for the coins you get from mining (although it costs you), insteaded you’re rewarded. It was meant to be a reward like a gift for keeping the system checked. I think the more we see mining not just as a profitable venture, the better we understand how a decentralized currency should work. I hope Minedblock realize this too.

I don't know if we're actually understanding eachothers, but if mining was just money for free we were all billionaires. It has a cost in terms of energy and CPU capacity and, in a bearish market, is not always profitable.
I hope that the market will start to grow again and I hope this project can achieve its goals, but talking about mining as a magical activity that creates free money seems to me not exact. With the greatest of respect obviously.

That's what makes Minedblock unique and popular in retailers because they (read Minedblock) are going to take care of costs, machinery etc.
We as investors/customers/subscribers just have to 'mine' :-)
I am just interpreting their whitepaper but could be wrong. Please do correct me if your understanding is different.

Okay, if you were talking about Minedblock. In general, this is the meaning of security tokens, obviously token holders do not have expenses related to mining, but only to the purchase of the tokens themselves.

Getadaaa

jr. member

Activity: 448

Merit: 3

Quote from: Sozialtourist on March 13, 2019, 04:00:08 PM

Quote from: dcoolguy84 on March 13, 2019, 01:31:52 PM

Yes, thats right. Only worry is how balance is maintained in mining profit distributed and buy back portion.

That was already discussed if I remember correctly. One of the team confirmed that they will use 10% to cover operational costs, distribute 75% to token holders and use the remaining 15% for the expansion of their business and to buy back tokens.

They did a great job with the percentages. Just a quick reminder it states in the whitepaper that 95% of company is owned by token holders, and which is distributed in this order.

Topic: ⚡️⚡️[ANN] ⚡️⚡️ MinedBlock ⚡️⚡️ STO Live NOW⚡️⚡️ Fully Managed Mining Service ⚡️⚡ - page 61. (Read 8718 times)