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If you aren’t aimed at sale of bitcoins collected, how will you make profit? Due to what will you pay dividends to the investors?
Yes, it is a risky venture and we clearly state that from the very beginning. Majors risks are bitcoin price and difficulty ratio. This includes the buying power of the ICO, as well as equipment process, installation costs, etc. Yes, there is a chance that the data center will not be as profitable as we expect. Say, today’s rate of ETH is just half of what it was two months ago. This reduces the number of miners we can actually buy at the end of ICO if the price remains the same. The entire project may even fail for usual business or regulatory reasons. If it will be unprofitable to mine bitcoin we will use 23% of output assigned for upgrades to switch to another cryptocurrency. And according to our plans, we are not going to interrupt mining process and as a result payouts. So, you can see, in that case, that we are following the idea of the profitable mining and would try to find the solution in any case. There are certainly risks and they should not be underestimated. Future prices and exchange rates of cryptocurrencies are impossible to predict, as is mining difficulty, the evolution of legal regulations, future price of electricity, hardware, and other factors. We will do everything we can to mitigate these risks, but there is no way anyone can eliminate them. That is why our general advice is not to risk more than you can afford to lose. On the other hand, if we succeed, the gains could be double- or even triple-digit, it is may be announced due to our calculations. That’s why I asked: Why are you fundraising in ETH, not in fiat? As you are saying yourself, with the current price of ETH, you can buy half of the planned miners...and putting your investors in danger. Moreover, I believe you will be paying for the equipment, maintenance, staff, rent etc in fiat. Why in the world would the company decide to fundraise in ETH? Also, how is it possible that 4-5% of output will cover all operational costs, including electricity, when around 25% will go towards covering only the electricity, based on the price per kw/h stated on your website (EUR 0.065) and current mining profitability? |
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You income will be less than you expect it to be ‘cause the cost of equipment increases constantly and retailers also set their mark-ups. So this will be a ig problem for you.
The company wont have problems with prices, it will acquire equipment at bargain price so income wont differ from the predicted one. Does MinerOne has any special terms for purchase of equipment?))) Yep, something like that. They have established contacts with largest producers of mining equipment and they will buy it without any mark-ups and with wholesale discounts. It’s great that the management of the company has taken care of that. Could you tell me please what producers they have established contact with? Ebang |
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It is very interesting how minerone.io answers questions selectively, and completely ignoring my questions.
I would like to know:
1. How much taxes you will pay in Sweden as your facility is based there?
2. Why the targeted cap is calculated in ETH not in USD.
On the website it is stated that as long as you fundraise 3,000 ETH (soft cap) the project will be initiated. Hypothetically, what happens if the price of ETH drops to USD 1. Will the project still be carried out?
3. How is possible to cover the operational costs including electricity with only 4-5% when around 25% goes only for electricity based on the price per kw/h stated on your website (EUR 0.065) and current mining profitability?
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is it gpu or cpu mining?
According to their website Ebang’s ASICs |
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Also, why the targeted cap is calculated in ETH not in USD.
On the website it is stated that as long as you fundraise 3,000 ETH (soft cap) the project will be initiated. Hypothetically, what happens if the price of ETH drops to USD 1. Will the project still be carried out?
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What are the estimated operational costs including electricity, lease, salaries etc in percentage?
We know that 77% from the net profit will be distributed to token holders, but we don’t know what percentage will be deducted from the gross profit to cover operational costs before distributing those 77%. Without those estimates, 77% net profit says nothing.
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Interesting project!
However, you might have cheap electricity in Sweden, but very high operational costs, taxes, salaries etc.
I would really appreciate if you can answer:
1. How much taxes you will be paying in Sweden as your facility is based there?
2. As I understood, once mining starts, 77% of the MONTLY NET OUTPUT will be distributed to MIO Token holders and 23% will go for new equipment, upgrades etc. But we don’t have an idea approximately what percentage will go for electricity, facility, operating/maintenance costs, staff etc. Any estimates on that?
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There is nothing wrong to treat Bitcoin solely as an investment. The investors also contribute to the price rise.
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Buy Bitcoin again and try to sell them on LocalBitcoins for cash. Alternatively, you have companies in some Eastern European countries where you can sell your Bitcoins for cash.
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Has anyone used their payment gateway?
It seems that there isn't much feedback about their services...
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My friend and I are hosting 15 x S9 miners at Sinohash. I'm currently on my way to Shimian (Beijing - Chengdu - Shimian), so once I get there I will post some photos of the facility (with Eric's permission).
I also might join Sinohash team in the future.
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Who said the price went down? It went up from USD 400 to USD 1.000 in a year  |
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I've been using BTCC exchange and wallet (as I live in China) for some time now. Today I received a promo email stating that they are lauching a new wallet with complimentary debit card called Mobi Visa Card. Will definitely give it a try and write a review.
Also, the wallet works with 60 currencies worldwide.
BTW I'm currently using Xapo debit card, but I'm not happy with their exchange rates.
Unfortunately, at the moment the app is not available in the Chinese store (Apple store), but it is available in the U.S. store, so someone from U.S. might want to say a word or two about the app.
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