Topic: [ANN][MNM][LAUNCHED] MINEUM |x13| PoW STARTED - page 7. (Read 153290 times)

Thank you for your reply.
I am glad that the project is not abandoned.

look like perrty good

Most of thier news are posted on their forum https://forum.mineum.org/

Hello.
What happens to the project? Do you have any news ? What are the future plans?

What about converting existing shareholder's Mineum into an equivalent "Mineum" Waves token.   That way you could migrate towards the Waves ecosystem.

A similar opinion to yosir's here. Improvements in the wallet and business model should be proposed, not artificial measures trying to improve the price. For example:

1- Improve the wallet to transform it in a real shareholder's tool. Make it a proposal and voting result checking tool, and develop it to become a blockchain based accountability and governance tool. I dunno if there is something like this based in ETH smart contracts or similar. But it would become in a different concept, and that's always more attracting that simply a stake in a company and a coin transaction wallet.

2- Look to include crypto TA/Mining experts to improve operations. Pay them a share in overall profits from mining and trading. Taking into account the supposed mining capabilities and the overall returns, I have the impression you have been mining and dumping with more attention paid to what your equipment can do than to what your equipment should do. I have made a fucking obscene ROI with some Baikal (+6x in 4 months), other miners I know have made it without equipment, buying hashses from Nicehash and MRR. Of course, none of us put all their efforts in mine only the most popular (and competitive coins). Minig some DASH give you a good ROI, WashingtonCoin ROI was totally absurd on the other hand. Your ROI in this exploding market is very low in my opinion..

3- Make attractive and reliable pool for miners to get ROI from fees and promote them. Have you compared coinquarry multipool to zpool? Have you seen how much zpool gets from fees yearly? And people was crazy about leaving zpool months ago due to affaire with fee calculation. I told you, I PM you, make a good, multialgo, multicoin pool, put a bunch of coins on it and add new coins if they look interesting. Put low and verifiable fees. But you have a 16 coin multipool with no users versus a 160 coin pool with more than 10k miner, more than 9k mining in X11 asics after more than 6 months. And you should have at least as much resources as him (don't remember any zpool ICO gaining more than 100 BTC).

Only some points. And yes, they need a lot of serious, professional and passionate work to being implemented. And maybe hire a professional soft developer, a mining/trading advisor, and so on. If you have BTC to put a big buywall, you have BTC for this. And ROI probably could be better. Not counting with it after watching the first year of the project...

And yes, as Yosir also said,taking into account than my investment in MNM is about 0.25% of my portfolio it's time to unwatch this thread and wait for some action in Yolo. Make what you want, but make it fast, please. I want at least some of my BTC back, too much interesting projects out there to continue losing time with this.

In Q1 2016 I chose three projects, WARP, MNM and DARKNET. A scam, a deception, and the moon. Well, you are not going to win always.

Salute

First of all part of the reason most of the above cited buybacks don't result in any reasonable long term financial benefits is that when a typical fiat company buys back stock, they don't burn it.

When MINEUM buys back it will be burning the tokens, which will increase the value of each token that shareholders have and receive for POS staking. Those fiat companies could at anytime, dump those bought back shares and even if they don't, it's still a totally different animal.

Considering the article's restaurant analogy, it just doesn't take the scenario far enough to apply to a company like MINEUM. What needs to be said in relation to removing tables in the MINEUM restaurant, is that not only will it equate to more people sitting at each table, but will also increase the price of the food that will be guaranteed to be bought each month (worst case only bought through buyback). It's almost as though the guests know that the chef will be burning some of the food each night and the food that he doesn't burn will be worth more.

The next effect of the process that wasn't illustrated by the article is that the shareholder owned MINEUM restaurant will now be enabling the longtime holders that would like to stop eating at the restaurant a chance to do so.

Also, a transition removing shareholders from the table equation enables the restaurant some nice advertising by now becoming eligible to be located in better locations (Bittrex for example) and land the project at an extremely high position in relation to price increase (% increase on exchange main pages) for the public to see. Perhaps offering token holders healthy discounts on some type of MINEUM services would be possible.

As many have previously stated, regardless of how long the ROI actually is, the existing model needs a boost.

Maybe a buyback will offer a nice little kickstart to push the food out a little faster, tastier and to more customers that would like to perhaps take advantage of hosting services and all things MINEUM.

The only place where burned food tastes so good......

I am bit familiar with this subject... but thanks for the google advice
http://www.businessinsider.com/whats-a-buyback-and-why-do-some-investors-hate-them-2016-6

If you don't want to read all those letters - the point is:

""In the past year, companies repurchasing shares saw an excess weighted cumulative return of -1.9% relative to the benchmark, while companies not repurchasing shares saw a return of 9.8% relative to the benchmark," Birstingl wrote in his quarterly look at buybacks.

On a three-year horizon, those companies buying back shares ended up with a -2.9% return against a gain of 11.5% for those not doing repurchases. IBM, incidentally, has lost about $50 billion in market value since the end of 2013, or about 30%.

Additionally, a study by Inmoo Lee of the KAIST College of Business, Yuen Jung Park of Hallym University, and Neil D. Pearson of the University of Illinois at Urbana-Champaign found that companies that completed buybacks outperformed the benchmark prior to 2001. Firms that completed share repurchases between 2002 and 2006, however, have not generated any better returns since that time than those who did not.

Based on this research, for both the short- and long-term, buybacks aren't helping share prices."

Buyback doesn't give any real value to company but instead takes the funds, which with PROPER use, can create the add. value.

About PR... Company should use PR to attract potential investors with it's financial opportunity and real growth potential. The companies that rely only/as main "attraction" on PR are ponzies. At this point it is unclear, at least for me, how Mineum can increase it's operation to level that it will be attractive and obviously current level is not great so what you want to do PR about? Come and get your money back in 10 years? (BTW with time working against us as there will be more competition and current equipment at some point will break).

Just try to have one answer, how team going to create more income, much more... while even their own idea of returning ROI in 12 months, that is like 1/10 in reality, not sure that be attractive enough.

Buyback is a long term strategy, not speculation. If you are not familiar with the subject, try google for cases where companies successfully use buyback as a way to increase stocks scarcity and price.

Less coins = higer price, it does work this way.


Again, I'd advise to learn how PR help companies to communicate with potential investors.

Every startup derives its value from:
1. Team
2. Idea
3. How the team executes the idea

Mineum already proved that they have a vision and so far execution is leading the project forward month after month.

Anyone who thinks he has some ideas how to improve the project is very welcome to post it here so we can discuss it.

Thanks for correction, sorry for wrong info. (Last vote - 24 persons which are 50%, makes sense)

After I said that I am sorry about unintentional misleading, I would like you to reply everything else I wrote that bit more important than this error you corrected.
How and if you intend to bring real value into the coin?

Another 'big investor' here (let's say I'm in top 5). I understand why some of us are becoming impatient - while most of other coins brings hundreds % of profits, MNM stays below ICO level, it is illiquid so no one can really sell their coins and if you count on dividends you would need to wait probably 10 years to get your investment back.

Well, this is the risk you take with any investment, specially in crypto world.

As an experienced investor (not only in crypto) and an entrepreneur (running my own startup) and without diving into lots of details, I can tell you that Mineum is definitely not a scam. In fact my opinion on this project is positive from the very beginning and I see them progressing in the long term.

The problem is they didn't raise enough capital during the ICO to push things forward quickly. I imagine they are struggling now - with the whole hardware they had to buy, probably no cash left to build a proper team. The founders put 100% of their time into main areas of operations, so other fields (communication through PR being the most important IMHO) are left abandoned. Taking all those things into account, they do a really good job...

But we are here to discuss the progress, to protect our investments and to help direct the project so everyone is happy with the incoming profits.
Maybe it's not clear for other ppl here, but 10% yearly dividend is perceived as quite good when you keep 'normal' stocks.
Of course, this is crypto world, with much higher risk, so it's natural that we all expect much more.

The strong positive fact about Mineum is that it brings regulars profits. If you look at Poloniex coins, how many of them have any profits? I leave it to you as a homework

Basically, in crypto, we all gains from increasing coins price. The problem we have with MNM is that we can't have it as it's stuck below ICO price.
So i believe all our efforts should go into fixing that problem. This is why we have this new Buy Back proposal and the vote.

Buy Back works is real world and it works in crypto. There are 4 main things it will help us with:
1. Increasing the coin price
2. Increasing the liquidity (non existent now)
3. Providing a chance to being listed on Bittrex and other main exchanges.
4. Bringing more eyeballs to the coin.

I expect that for the first few months all buy walls will be eaten quickly by impatient investors. We may even see the race towards buy walls as I'm sure there are few shareholders waiting for months for a chance to sell their coins even at the ICO price.

And it's ok. Let them sell.

Their coins will be burned and if at any point in the future they would like to come back, they will be forced to compete with monthly buy walls to buy coins, so it's almost certain they will be buying at higher price.

Anthony claims the MINEUM team will not be selling their 51%.
I will not be selling my stack.
Some other shareholder probably will wait too.

Those who stay patient will see the price growing gradually month after month.

Now, is the Buy Back a magical tool to solve our problem? Well, it's definitely a move in the right direction, but I think we must do at least one more thing.
It's PR - if we want to be visible to other investors, we must do something about it.
But this is a topic for another discussion, maybe a good topic for the next vote.

The ICO wasn't a scam, some investments hit some don't. I'm not super content with the returns, but at least we're getting them. It is what it is. Everyone who invests in crypto knows the consequences. I'll continue to stake and support the project Antho, don't give up.

I can argue with you about almost every sentence you wrote and show that is "partially correct" but lets stop with the most important part for me.
Just leave you with thought: if your ICO was with big banner - "We will return your money after 1 year and only than you will start to earn", how many BTCs you would get for ICO in this crazy crazy crypto world

Anyway, thanks for answering my questions.

Well our costs are in $CAD. Our margin MAINLY depends on Bitcoin fluctuation AND CAD/USD fluctuation.
While today a 3.5 BTC profits means 7 000 CAD, a year ago, 3.5 BTCs were ... 3 000 CAD maybe less?

If you were right I would had tell you. But now, you are stuck in the fact the MNM did not deliver the exact things as planned while we did, if you convert it in CAD. We said we would do about 7 BTC / month from the beginning. That 7 BTC worth 6 800 CAD$. We are at 6 500$ on the last payout in less than a year.

There's a lot of factor you must consider and all you are considering is the BTC as BTCs.

There is only way to calculate an ROI : Expenditure / income, in the same currency, off course and here this is Bitcoin, only Bitcoin.
During the ICO we have not buy our MNMs in $, $ CAD, RMB or €, but with Bitcoins.
And incomes are not in $, $ CAD $, RMB or €, but with Bitcoins.
ROI can only be calculate in Bitcoin !

If you use $ or CAD $..., you use the increase of the bitcoin for maskings a part of the Mineum disaster.
You know that I'm right and I am very disappointed that you use this type of trickery to try to deceive people: it is simply dishonest and it is not the Antho that I thought I knew

Yes, I do what I want with my Bitcoins, but you can not do what you want with those of the ICO and the least is to do everything to ensure profitability. For investors, we are very far: 9.5 years !
For my part, I was probably wrong to invest in Mineum.

I sell 12017.43146276 MNM right now at 2500sat on Cryptopia.
(No offense meant, Word costs $99 this year)

Well let's take that graph


Here you can see that difficulty raised for 50 to 350 in the last year. That says, with the same hash, we receive ~7 times less ETH today than we were last year. But price raised by 3 times. Can we esperate to get 7 times more returns monthly? Nope.
Mining is a complete different world with a lot of variable you don't necessarily have control on. If we kept the ETH we mined a while back and sell them today, you would have 25-40 BTCs today plus all the other coins we have mined., but holders voted for a monthly return so we basically need to sell them every month, even if the price is going down. We need to sell the coin no matter what.

From the beginning we wish we could get everything ROI in about a year, but many unplanned things happened out of our control.
By getting the MNM price at ICO, we give the possibility to our holder to get the same ROI as they would had if they kept holding only BTCs.
BTC price is the most relevant thing to consider when you are mining along with the difficulty.