⚡️⚡️[ANN] ⚡️⚡️ MinedBlock ⚡️⚡️ STO Live NOW⚡️⚡️ Fully Managed Mining Service ⚡️⚡ - page 69.

em777

jr. member

Activity: 574

Merit: 1

when you are fed up transfer your crypto to me

Quote from: gee777 on February 26, 2019, 04:54:01 PM

Quote from: ning_aric on February 26, 2019, 04:18:32 PM

Quote from: MinedBlock on February 26, 2019, 01:50:52 PM

We don’t have anything planned but the option is there if we ever wanted to go down that route.
We need to concentrate on the pre-sale and main sale for now.

I see you already have a roadmap of events prolly to be concluded by the Q2 and the first profits distribution by Q3. With the current crypto economic status and the current sales, would there any changes?

As they said their main goal and ambition at this time and stage is to focus on only getting the required funds from both their pre sale and main sale.

Yeah, successful pee sale and main sale is the goal of many cryptocurrency project and I think they are not an exception o will only advice them to do more publicity so as to get more investor and partners

gee777

member

Activity: 728

Merit: 10

Quote from: ning_aric on February 26, 2019, 04:18:32 PM

Quote from: MinedBlock on February 26, 2019, 01:50:52 PM

We don’t have anything planned but the option is there if we ever wanted to go down that route.
We need to concentrate on the pre-sale and main sale for now.

I see you already have a roadmap of events prolly to be concluded by the Q2 and the first profits distribution by Q3. With the current crypto economic status and the current sales, would there any changes?

As they said their main goal and ambition at this time and stage is to focus on only getting the required funds from both their pre sale and main sale.

Nathan01

member

Activity: 728

Merit: 11

DocTailor IEO on Zloadr

Quote from: Sozialtourist on February 26, 2019, 03:05:27 PM

Quote from: MinedBlock on February 26, 2019, 01:50:52 PM

Quote from: Sozialtourist on February 26, 2019, 11:22:29 AM

Quote from: MinedBlock on February 26, 2019, 07:13:07 AM

Quote from: Sozialtourist on February 25, 2019, 05:20:41 PM

Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?

There is no upper limit at the moment, we will mint as many as are sold.
The STO contract is more suited to traditional fundraising methods where you can run multiple funding rounds over time.
Any future rounds will always be offered to existing token holders before they are made public though and there is no real risk of dilution because any extra funding will be matched by the increase in the mining operation.

What do you mean with 'future rounds' exactly? Do you plan to host more founding rounds from time to time to expand the service?

We don’t have anything planned but the option is there if we ever wanted to go down that route.
We need to concentrate on the pre-sale and main sale for now.

When the smart contract can be changed to allow the minting of new tokens at any time, what do you do in order to prevent that someone from your team abuses this function to create tokens for himself to then sell them on the market?
I am not saying that I think that this will happen at your project but just recently (last October) exactly this scenario happened at a project called Oyster Pearl. So I was just wondering what's your opinion on this.

Furthermore isn't there a means to ensure that such delicate operations are carried out mainly by selected and high positioned individuals in the company and are quite limited in number to guide against such abuse moving forward

ning_aric

full member

Activity: 826

Merit: 102

Quote from: MinedBlock on February 26, 2019, 01:50:52 PM

We don’t have anything planned but the option is there if we ever wanted to go down that route.
We need to concentrate on the pre-sale and main sale for now.

I see you already have a roadmap of events prolly to be concluded by the Q2 and the first profits distribution by Q3. With the current crypto economic status and the current sales, would there any changes?

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: MinedBlock on February 26, 2019, 01:50:52 PM

Quote from: Sozialtourist on February 26, 2019, 11:22:29 AM

Quote from: MinedBlock on February 26, 2019, 07:13:07 AM

Quote from: Sozialtourist on February 25, 2019, 05:20:41 PM

Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?

There is no upper limit at the moment, we will mint as many as are sold.
The STO contract is more suited to traditional fundraising methods where you can run multiple funding rounds over time.
Any future rounds will always be offered to existing token holders before they are made public though and there is no real risk of dilution because any extra funding will be matched by the increase in the mining operation.

What do you mean with 'future rounds' exactly? Do you plan to host more founding rounds from time to time to expand the service?

We don’t have anything planned but the option is there if we ever wanted to go down that route.
We need to concentrate on the pre-sale and main sale for now.

When the smart contract can be changed to allow the minting of new tokens at any time, what do you do in order to prevent that someone from your team abuses this function to create tokens for himself to then sell them on the market?
I am not saying that I think that this will happen at your project but just recently (last October) exactly this scenario happened at a project called Oyster Pearl. So I was just wondering what's your opinion on this.

MinedBlock

copper member

Activity: 112

Merit: 0

Quote from: Sozialtourist on February 26, 2019, 11:22:29 AM

Quote from: MinedBlock on February 26, 2019, 07:13:07 AM

Quote from: Sozialtourist on February 25, 2019, 05:20:41 PM

Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?

There is no upper limit at the moment, we will mint as many as are sold.
The STO contract is more suited to traditional fundraising methods where you can run multiple funding rounds over time.
Any future rounds will always be offered to existing token holders before they are made public though and there is no real risk of dilution because any extra funding will be matched by the increase in the mining operation.

What do you mean with 'future rounds' exactly? Do you plan to host more founding rounds from time to time to expand the service?

We don’t have anything planned but the option is there if we ever wanted to go down that route.
We need to concentrate on the pre-sale and main sale for now.

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: MinedBlock on February 26, 2019, 07:13:07 AM

Quote from: Sozialtourist on February 25, 2019, 05:20:41 PM

Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?

There is no upper limit at the moment, we will mint as many as are sold.
The STO contract is more suited to traditional fundraising methods where you can run multiple funding rounds over time.
Any future rounds will always be offered to existing token holders before they are made public though and there is no real risk of dilution because any extra funding will be matched by the increase in the mining operation.

What do you mean with 'future rounds' exactly? Do you plan to host more founding rounds from time to time to expand the service?

Nathan01

member

Activity: 728

Merit: 11

DocTailor IEO on Zloadr

Quote from: MinedBlock on February 25, 2019, 08:23:15 AM

Quote from: Nathan01 on February 25, 2019, 02:08:26 AM

Quote from: Kinkadeinspired on February 24, 2019, 11:24:58 AM

Amazingly, I completed my KYC and it literally took 3 minutes as indicated on the website. I think that is a welcomed development as opposed to others KYCs that takes some days to get completed.

What information/documents did you supply that enabled you complete yours so quick?
I've been trying to get kyced now for sometime but it's not allowing.
How do I reach the mineblock team to help with manual KYC

There are contact details within the dashboard if you are having problems getting through KYC or you can email [email protected]

Alright, just seeing this now, I have made another attempt to be registered, whatever result I get I will be making use of the contacts dropped. I really appreciate the swift response of the team here

MinedBlock

copper member

Activity: 112

Merit: 0

Quote from: Sozialtourist on February 25, 2019, 05:20:41 PM

Quote from: dcoolguy84 on February 25, 2019, 02:43:17 PM

Quote from: MinedBlock on February 24, 2019, 09:17:45 AM

It’s actually a pretty standard way for a project to burn tokens, if you check here in Etherscan and look at the tokens it might make more sense:

https://etherscan.io/address/0x0000000000000000000000000000000000000000

Yes, now its clear.
Actually googled some info and this is generic method of 'burn'ing unused tokens.

But what it differs from usual burning is, this burns them after 5% buy back, instead of direct burning of leftovers from ICO.

This should definitely help this ICO to boom in near future when more investors get convinced about this project.

Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?

There is no upper limit at the moment, we will mint as many as are sold.
The STO contract is more suited to traditional fundraising methods where you can run multiple funding rounds over time.
Any future rounds will always be offered to existing token holders before they are made public though and there is no real risk of dilution because any extra funding will be matched by the increase in the mining operation.

MinedBlock

copper member

Activity: 112

Merit: 0

Quote from: Sozialtourist on February 25, 2019, 11:40:13 AM

Quote from: MinedBlock on February 25, 2019, 08:22:20 AM

Quote from: Sozialtourist on February 24, 2019, 05:35:36 PM

What do you mean exactly when you say that from your monthly profits you will spend 10% on the expansion of the service? Does this mean you will buy new mining equipment?

Yes essentially, we will expand the mining farms with additional equipment based on votes from token holders of where they think we should expand. Expansion fund will also be used to buy crypto to host masternodes which can produce extra revenue

Interesting that token holders can vote on where they want your service to be expanded. How does this voting process will take place? Will we need to sign a message from the address where we hold the tokens or how exactly will this work?

This is still to be finalised. I think we will probably keep it simpler and allow a 'read' of the whitelisted wallet into the Investor Dashboard and your vote will be multiplied based on the number of tokens you hold. There would be some level of scale built in to stop someone with a huge token holding from taking over the vote.

It will be progressed after we hit our soft cap and announced at a later date

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: dcoolguy84 on February 25, 2019, 02:43:17 PM

Quote from: MinedBlock on February 24, 2019, 09:17:45 AM

It’s actually a pretty standard way for a project to burn tokens, if you check here in Etherscan and look at the tokens it might make more sense:

https://etherscan.io/address/0x0000000000000000000000000000000000000000

Yes, now its clear.
Actually googled some info and this is generic method of 'burn'ing unused tokens.

But what it differs from usual burning is, this burns them after 5% buy back, instead of direct burning of leftovers from ICO.

This should definitely help this ICO to boom in near future when more investors get convinced about this project.

Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?

dcoolguy84

copper member

Activity: 425

Merit: 0

Quote from: MinedBlock on February 24, 2019, 09:17:45 AM

Quote from: gee777 on February 23, 2019, 03:25:55 PM

Quote from: Sozialtourist on February 23, 2019, 02:13:09 PM

Quote from: dcoolguy84 on February 23, 2019, 01:49:01 PM

Quote from: Sozialtourist on February 22, 2019, 06:23:27 PM

Quote from: em777 on February 22, 2019, 05:26:06 PM

Quote from: gee777 on February 21, 2019, 02:11:08 PM

Quote from: Pricebrianer on February 21, 2019, 01:05:40 PM

Quote from: Zurcermozz on February 21, 2019, 10:17:56 AM

Quote from: ganeshramk on February 21, 2019, 08:25:41 AM

Quote from: MinedBlock on February 20, 2019, 04:55:26 PM

The plan is definitely to buy back tokens but not all of them. We will aim to reduce the supply by up to 50% over time. The reason being if you held 1% at the start of the project and held onto them indefinitely, by the time we reduce the supply your 1% becomes 2% of the total. Add to that the planned growth of the service and you should receive a significantly larger amount of value that you did at the start.

We don't want to create a speculative token, we want our token holders to keep holding because the monthly payouts provide real value and to support that the founding team will only personally make money from this project through their own token holding so if our investors don't get paid then neither do we.

Nice to get replies from the team directly. This kind of interaction gives good hope for the people around here. 50% of the tokens for buyback? What kind of timeframe are we talking about here?

Yeah agree on you, its so nice that the admin keep on responding and being active not only in telegram but also in the thread.

I would understand that’s because it’s the first STO from a mining project and they have an experience team that would do all it takes to get this right. First, they took a bold step by being the first mining project to promote investors from harsh regulations.

To think yesterday that I said they wouldn't burn any tokens? Or will they burn the tokens that are bought back or sold back to big investors?

They can only burn tokens if they make that as an option to unsold tokens, usually it is made known by the team before hand

Just read what is said in the messages above. They will spend 5% of their profits to buy back tokens and send these tokens to a dead ETH address and remove them from circulation (burn them) this way.

I am in crypto market for almost 2 years now, but never saw such unique fair strategy.
Quoting reason of this kinda creative 'burn' theory from whitepaper:
The primary aim of the buy back will be to reduce the supply and increase the ‘return per token held’ by customers

Isn't this amazing way to keep alive and booming the ICO... Great job devs...

Actually, buy-backs are a pretty common strategy. But normal ICOs have the risk to get deemed a security token when they are offering a buy-back program.

What is the effect of sending the tokens to a dead eth address. Will this reduce their total supply in any ways? Or is it seen as another method of burning tokens? I really don't get it.

It’s actually a pretty standard way for a project to burn tokens, if you check here in Etherscan and look at the tokens it might make more sense:

https://etherscan.io/address/0x0000000000000000000000000000000000000000

Yes, now its clear.
Actually googled some info and this is generic method of 'burn'ing unused tokens.

But what it differs from usual burning is, this burns them after 5% buy back, instead of direct burning of leftovers from ICO.

This should definitely help this ICO to boom in near future when more investors get convinced about this project.

Sozialtourist

full member

Activity: 686

Merit: 101

Quote from: MinedBlock on February 25, 2019, 08:22:20 AM

Quote from: Sozialtourist on February 24, 2019, 05:35:36 PM

What do you mean exactly when you say that from your monthly profits you will spend 10% on the expansion of the service? Does this mean you will buy new mining equipment?

Yes essentially, we will expand the mining farms with additional equipment based on votes from token holders of where they think we should expand. Expansion fund will also be used to buy crypto to host masternodes which can produce extra revenue

Interesting that token holders can vote on where they want your service to be expanded. How does this voting process will take place? Will we need to sign a message from the address where we hold the tokens or how exactly will this work?

justsimpleram

jr. member

Activity: 462

Merit: 1

Quote from: Zurcermozz on February 25, 2019, 04:25:58 AM

Quote from: Nathan01 on February 25, 2019, 02:08:26 AM

Quote from: Kinkadeinspired on February 24, 2019, 11:24:58 AM

Amazingly, I completed my KYC and it literally took 3 minutes as indicated on the website. I think that is a welcomed development as opposed to others KYCs that takes some days to get completed.

What information/documents did you supply that enabled you complete yours so quick?
I've been trying to get kyced now for sometime but it's not allowing.
How do I reach the mineblock team to help with manual KYC

I use driver's license then take a photo with clear image in both the selfie and the license. If its still being accepted , try to go to their telegram and ask question. or email them.

I try to use Local ID and now it's not been accepted because I scan it and the light is so bright they think I use some editor on it but i'm not so I'm gonna try to capture it by my cellphone so it will not so bright.

MinedBlock

copper member

Activity: 112

Merit: 0

Quote from: Nathan01 on February 25, 2019, 02:08:26 AM

Quote from: Kinkadeinspired on February 24, 2019, 11:24:58 AM

Amazingly, I completed my KYC and it literally took 3 minutes as indicated on the website. I think that is a welcomed development as opposed to others KYCs that takes some days to get completed.

What information/documents did you supply that enabled you complete yours so quick?
I've been trying to get kyced now for sometime but it's not allowing.
How do I reach the mineblock team to help with manual KYC

There are contact details within the dashboard if you are having problems getting through KYC or you can email [email protected]

MinedBlock

copper member

Activity: 112

Merit: 0

Quote from: Sozialtourist on February 24, 2019, 05:35:36 PM

What do you mean exactly when you say that from your monthly profits you will spend 10% on the expansion of the service? Does this mean you will buy new mining equipment?

Yes essentially, we will expand the mining farms with additional equipment based on votes from token holders of where they think we should expand. Expansion fund will also be used to buy crypto to host masternodes which can produce extra revenue

Zurcermozz

member

Activity: 560

Merit: 16

Quote from: Nathan01 on February 25, 2019, 02:08:26 AM

Quote from: Kinkadeinspired on February 24, 2019, 11:24:58 AM

Amazingly, I completed my KYC and it literally took 3 minutes as indicated on the website. I think that is a welcomed development as opposed to others KYCs that takes some days to get completed.

What information/documents did you supply that enabled you complete yours so quick?
I've been trying to get kyced now for sometime but it's not allowing.
How do I reach the mineblock team to help with manual KYC

I use driver's license then take a photo with clear image in both the selfie and the license. If its still being accepted , try to go to their telegram and ask question. or email them.

Nathan01

member

Activity: 728

Merit: 11

DocTailor IEO on Zloadr

Quote from: Kinkadeinspired on February 24, 2019, 11:24:58 AM

Amazingly, I completed my KYC and it literally took 3 minutes as indicated on the website. I think that is a welcomed development as opposed to others KYCs that takes some days to get completed.

What information/documents did you supply that enabled you complete yours so quick?
I've been trying to get kyced now for sometime but it's not allowing.
How do I reach the mineblock team to help with manual KYC

Zurcermozz

member

Activity: 560

Merit: 16

Quote from: em777 on February 24, 2019, 05:04:49 PM

Quote from: Kinkadeinspired on February 24, 2019, 11:24:58 AM

Amazingly, I completed my KYC and it literally took 3 minutes as indicated on the website. I think that is a welcomed development as opposed to others KYCs that takes some days to get completed.

Thanks for such information I am yet to conduct my own KYC like you said it great knowing how straight forward the KYC is.

Yeah, they're so fast, i just turn off my pc and went for the bedroom and i check it with my phone and its already done.

Sozialtourist

full member

Activity: 686

Merit: 101

What do you mean exactly when you say that from your monthly profits you will spend 10% on the expansion of the service? Does this mean you will buy new mining equipment?

Topic: ⚡️⚡️[ANN] ⚡️⚡️ MinedBlock ⚡️⚡️ STO Live NOW⚡️⚡️ Fully Managed Mining Service ⚡️⚡ - page 69. (Read 8718 times)