What does it mean that MinerOne will be a “cushion” the fluctuation of bitcoin exchange rate?
The Miner One Cushion Effect refers to the difference between speculation in bitcoin and mining bitcoin. If you simply buy bitcoin, your profit or loss depends on whether bitcoin goes up or down. If you mine bitcoin, whether it’s worth 12,000 or 20,000, you still have more than what you started with. So, let’s say you put 14,000 into bitcoin and over the next year it drops to 12,000, then rises to 17,000, then drops back to 13,000. In the end you’ve lost 1,000. If, on the other hand, you put the same 14,000 into Miner One, this amount after one year can generate bitcoin worth up to 4,000 (depending on exchange rate, difficulty, etc.), which means you have a gain and not a loss. This is the Miner One Cushion Effect. |
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How difficult will it be for you and your equipment to switch to mining another cryptocurrency? Or will the processors be designed only for bitcoin mining?
Miners can be switched to mine other cryptocurrencies that use the SHA256 algorithm. If market conditions warrant, Miner One may use part or all of the 23% of output set aside for ongoing equipment upgrades to acquire specialised miners for other cryptocurrencies. |
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Will you conduct privative maintenance of your mining centers? How often will you do it?
Miner One will have expert technicians on the job 24/7, making sure your investment yields maximum returns. |
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If mining bitcoin becomes unprofitable for your company, will you switch to another cryptocurrency?
If we can foresee a situation developing that makes mining other cryptocurrencies a better bet, we can use the 23% of net output set aside for upgrades to make the switch. |
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I don't understand why many people think that MinerOne is the best project of its kind. There are many similar companies that conduct the same ICOs. I don't think they're any worse than this one.
Everyone has their own tastes, that’s true. But if you face the truth, you will realize that MinerOne is the most promising company in this field. There are some advantages that they have unlike other companies. Really? I would like to know what advantages we are talking about. For example, MinerOne’s yield will be higher than that of competitors, because they will use 100% green energy, which is the cheapest in the world. Its cost is 6.5 eurocentes per kWh. I would also single out their plan to reinvest their profits in further improvement of the mining centers: service, equipment repairing, replacement of broken or obsolete equipment, etc. All this ensures a long and trouble-free work of MinerOne. Will they be located in a safe country? Won’t they prohibit mining immediately after the launch of the mining center? We are classified as a data centre in Sweden, where we will be operating. The regulatory environment for this type of business there is stable. Our headquarters are in the United Arab Emirates. The UAE's position on crypto is clear and friendly, and we don't think that will change. |
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As far as I know, equipment overheats ‘cause of mining. Will MonerOne somehow solve this problem? Maybe, with the help of ventilation system?
It seems to me that MinerOne team hasn’t thought it out yet ‘cause I havent seen any info in the technical documentation. Why do u think so? This point is described in the technical documentation very well. All Miner One facilities will have an eco-friendly and effcient “free cooling” system. Will it be a water cooling system? It seems to me that it’s dangerous to use it in the centers where any efflux can provoke short circuit. No water will be used for cooling, so there is absolutely no risk of spillage that could result in equipment damage. The cool climate makes Northern Europe the ideal location for mining centres as very little additional power is required for cooling. |
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Will you ensure the physical protection of your enterprises? Will it be round the clock?
Apart from general security measures, Miner One mining equipment will be insured against all kinds of damage. |
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How will you ensure uninterrupted Internet connection to your mining center and what will you do if the connection is broken?
The Internet connection at each Miner One mining centre will be reliable and fast, with at least two independent Internet feeds to be installed. All equipment will be protected from intrusion, hacking, and DDoS attacks using network security firewalls and traffic filters managed by our skilled network engineers. |
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When can I expect the start of the first MinerOne mining center?
Mid-summer. |
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What are the requirements of your mining centers and why did you choose such a list of criteria?
In Luleå, electricity is very cheap (we are getting the lowest rates in Europe here at 0.065 euro per kWh), supply is stable (lots of green power from hydro) and air is cool (average annual temperature is 2C) which keeps cooling costs minimal. |
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How many tokens can I buy at ICO?
There is no maximum limit, other than the Hard Cap itself. |
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is there a bounty program? can you give me the link to the topic?
I just chatted with someone from their official website. That person told me that they have a bounty program but by invitation only. Very odd, the first time I heard of a bounty that is by invitation only. A Bounty Program means that some MIO are allocated to people who actively promote Miner One. |
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Has your company already started to buy of the first batches of equipment? After all, the soft-cap is already collected…
With hardware prices falling and ETH still finding its footing, the decision has been made, with the support of the community, to wait a few weeks. As indicated by CEO Pranas Slusnys, Miner One will delay the first order of hardware to give ETH time to rebound. This does not throw Miner One off schedule in terms of starting mining this July. |
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You have already agreed with the electricity supplier about discounted electricity?
Our team recently met with Luleå Energi and confirmed these low prices. |
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how much is kWh in Luleå, Sweden?
EUR 0.065 / kWh. |
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Are you planning to get the best mining hardware that is currently available on the market?
We will buy the best currently-available hardware that is specially made to mine bitcoin. Right now, the best ASIC miner is the Ebit Miner E10 made by Ebang. For a comparison of miners, please see our White Paper on www.MinerOne.io. |
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How long is it going to take for investors to return there MinerOne investments by getting dividends?
According to our best estimate of a monthly return of up to 13%, it will take almost 8 months. Could potentially be sooner in some extremely optimistic scenarios, but we don’t want to overpromise. Note that our calculations are a good faith estimate, not a promise or obligation. Many factors beyond any single person’s or entity’s control influence mining profitability. |
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Are you going to open your second mining center in 2019? What about the location?
As for Lulea facility: it will take up to 75m to fully exploit it. As for how fast we can move to another facility: we are already lining those up nearby as well as at alternative locations. Potential locations of additional centres include Boden, Älvsbyn, Västerås, the region of Gävleborg, high coast region, Skellefteå, Västra Götaland region, Luleå, Robertsfors, Kramfors, Stockholm, and Lithuania. |
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Why arent you considering mining Ethereum? It’s a very promising coin as well.
It is estimated that we can mine BTC through 2024, so there’s still plenty of time. We can also gradually switch to other currencies using the 23% of net output dedicated to equipment upgrades. Ethereum’s plans to switch to Proof-of-Stake are known for quite a while now, we have to wait and see how it comes out. |
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