A Quick Rundown on Terraminer
As you might know, during the ICO, Pavel Kuznetsov, our CEO, held a few webinars answering viewers’ main questions. We decided to gather all the questions and answers in one place and post in on our website so you can always find this information. Don’t get upset if you missed the webinar: you can get a quick rundown here. If you watched the webinars, you can also skim through these posts to refresh the key points in your memory and make sure you got everything right.
When will you finally launch the farm? How many days behind schedule are you?
✔The hardware manufacturer has notified us about delivering on December 15th. Thus, we’re lagging 5 days behind, which is insignificant. I would like to remind you that we’re not buying a ready-made solution — we design our own, higher performance miners.
Why is the launch postponed? Haven’t you raised enough money during the ICO?
✔We have enough money to launch the farm at the stated capacity.
When will we see the first dividends in our wallets?
✔As it was stated earlier, the payouts begin after the farm is launched, late December.
When and why are you going to China? Why have you postponed the trip?
✔On Monday we fly to Shaoguan to sign a lease agreement with the power plant as well as a mineral oil cooling baths installation contract with the respective manufacturers. We already have visas and tickets. The trip was delayed because we were looking for the best candidate to fill the onsite project supervisor position in China. The supervisor has been found, and he’s flying with me to China, where he will stay to control the farm building process and its launch. I will return to Moscow after 10 days.
How many miners will you install?
✔According to the declared hashrate of the farm, we must make 53 miners. However, we will make more — 60 miners, to have about 20% of output as backup. This ensures that even in case of force-majeure, the farm will provide the required output.
Why is the company registered in Bulgaria?
✔I would like to remind you that the original aim of this project was to pay for all the services and equipment in cryptocurrency only, avoiding operations in fiat money and bypassing the banking system. Therefore, a legal entity in Bulgaria was created as a formality, to conclude lease agreements and hardware contracts. We are under the Bulgarian jurisdiction, but all our payments in China are made in cryptocurrency, bypassing the banks.
What guarantees can you provide to investors?
✔Token holders own the hashrate. The hardware manufacturer offers a three year warranty, and this is enough to protect the interests of TRM token holders. With those who invest over $ 10,000, we additionally conclude a pledge agreement. All payment documents with manufacturers and landlords will be released on the website upon my return from China.
When the farm is ready, will anybody be responsible for the safety of the
equipment?
✔We conclude a three year lease and register it officially. It means that the landlord will be fully responsible for what is happening on our premises.
What is your plan in case mining and cryptocurrency operations in China are banned?
✔ We have a backup project ready in Irkutsk, Russia. Electricity there is even cheaper than in Shaoguan at just 5 cents per kW. We are ready to launch the Russian project as soon as we hear the official position of the authorities on the issue of cryptocurrency and mining.
How many tokens are planned for issue, and will there be a subsequent offering?
✔I would like to remind you that each token is backed by a fraction a mining farm, 1 token is equal to 1 megahash, therefore their limited number is exactly 104,600. Additional tokens can occur only if the farm gives output, which is more than the planned one.
Why can’t I buy tokens for fiat money?
✔As I’ve already said, the idea of the project was to create a real business with virtual money, and we succeeded. That’s why we do not accept investments in fiat money — only in the cryptocoins.
What are the privileges for those who invest over $ 10,000?
✔Those who invested over $ 10,000 receive a bonus in the form of additional tokens to increase their share in farm hashrate, sold by private subscription.
When will you start redeeming tokens on an exchange?
✔As it was mentioned earlier, we will redeem tokens on an exchange, on 10% of our profits. We will begin after the project launch and its first payouts, namely, sometime in January 2018.
Will it be possible to buy tokens in December?
✔In December, you will only be able to buy tokens off an exchange, if someone from existing investors wants to sell them. Therefore, I advise you to buy them now, directly through the website. It is a good deal even at price of $8.4.
Will there be new ICOs?
✔Yes, there will be new ICOs, as we will be raising more money to expand this farm. In the future, we are planning to build a 3 terahash farm. At this point we have raised about $500,000, but we would like to raise $15,000,000. The next pre-ICO period will last 2 months, so that we can hear the opinion of investors who have already entered the project with large investments, and agree on the terms.
If you still have questions on these topics, ask them in this chat and we will answer. Stay tuned and share our project with people interested in cryptocoins and investments.
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