I like how transparent your website is about the funds gathered so far. Most of the ico is not sharing the results and they are telling always blockchain will bring more transparency to the market but they act in the opposite.
I totally agree with you. I guess some projects think that it could discourage investors when they see that the investment counter is not constantly filling up. |
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I understand Minedblock is licensed to sell their tokens unlike most mining project scams, but older mining projects like genesis had to cancel unprofitable contracts due to the price of BTC falling and mining hashrate going higher, how does Minedblock plan to realize profits both for themselves and token holders in a bearish market trend?
That's something I am also wondering. When they are calculating with electricity costs of around $0.044 per kWh, what would be the price of BTC (or the other crypocurrencies that they plan to mine) where they break even? |
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Yes, thats right. Only worry is how balance is maintained in mining profit distributed and buy back portion.
That was already discussed if I remember correctly. One of the team confirmed that they will use 10% to cover operational costs, distribute 75% to token holders and use the remaining 15% for the expansion of their business and to buy back tokens. |
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Especially as we (the founders) will only profit from holding tokens, so you can trust in the work ethic we have, because if you (the investor) aren't making a profit, neither are we!
It’s great to have someone from the team. 95% of revenue is distributed to investors (token holders) and maintaining the facility, how else would the team make profit from their hardwork? Is there an amount of the total Minedblock tokens allocated to the team? Finally, what happens to unsold tokens (if any) at the end of the token sales? Are you referring to the Token Distribution? If I can point you towards the WP https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf our Token Distribution is outlined in there. But in summary to your questions: As a Security Token we would only Mint the amount of tokens sold, from this figure 95% will be distributed to the token holders and 5% spread equally to the founding team, so there wouldn't be unsold tokens  So does this mean that the only stream of revenue for you (MinedBlock) comes from the 5% of tokens that you are allocating to you and your team? I thought from the mining profits you use 10% for, besides other operational costs, your staff? |
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Yes, actually we plan to launch many things in the coming 3 to 4 months, we will update the roadmap soon.
so let's say that in 4 months time we would have a working wallet that we can try, it seems to me great, i wait for the updated roadmap... Does this mean that the platform should be (almost) fully functional by the end of July at the latest? Or are there then still some essential parts to be completed. |
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That's what makes Minedblock unique and popular in retailers because they (read Minedblock) are going to take care of costs, machinery etc.
We as investors/customers/subscribers just have to 'mine' :-)
I am just interpreting their whitepaper but could be wrong. Please do correct me if your understanding is different.
No, we don't have to mine. MinedBlock takes care of the mining and just distributes the mining profits to token holders. But nevertheless, the mining has to be profitable for MinedBlock, too. If they have higher operating costs, than what they earn for themselves, they cannot distribute anything to token holders and cannot run their business for long. |
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Mining is the basis of true decentralized cryptocurrencies. But with the cost of mining and difficulty getting higher and with the need for bigger equipments, most people have lost interest in the oldest way of earning free cryptocurrency.
It's not actually free. Mining in this moment is not always profitable and the impact due to the amount of energy is relevant. These are problems that the crypto ecosystem must solve to evolve. You don’t pay for the coins you get from mining (although it costs you), insteaded you’re rewarded. It was meant to be a reward like a gift for keeping the system checked. I think the more we see mining not just as a profitable venture, the better we understand how a decentralized currency should work. I hope Minedblock realize this too. I don't know if we're actually understanding eachothers, but if mining was just money for free we were all billionaires. It has a cost in terms of energy and CPU capacity and, in a bearish market, is not always profitable. I hope that the market will start to grow again and I hope this project can achieve its goals, but talking about mining as a magical activity that creates free money seems to me not exact. With the greatest of respect obviously. Yes, the profitability of mining depends mostly on your energy source and the market situation. No wonder, that a lot of mining businesses had to shut down their operations because of the long bear market we are in at the moment. In times like these, mining can only be profitable if you have a very cheap energy source. |
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One country has to make the first move. I don’t know how long it’s going to take but I guess it’s going to happen soon. Let’s hope Germany regulations comes out positive.
Lots of countries are talking and starting their work on regulations. I don't care who comes out first but I need strict rules and regulations for the projects. Those survives that will be the winner in the end. In my opinion, it should be a goal for every country to be as crypto-friendly as possible.. If crypto becomes mainstream, more and more successful companies might emerge. And if you look at Germany, or Europe in general, they already failed the last time when tech giants like GAFA and the Silicon Valley boomed. Now it should be in their own interest not to scare away new potential startups again. |
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It’s great to know that you don’t need to have any mining experience to earn from mining. Minedblock team would monitor the mining activities, switch between coins as the difficulty rates fluctuates and purchase of new miners.
This and the fact that there is quite a high entry barrier to start mining by yourself with expensive mining gear and non-intuitive settings and high energy consumption. So to profit off mining as an individual, mining projects like MinedBlock are probably the easiest way. |
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Mining is the basis of true decentralized cryptocurrencies. But with the cost of mining and difficulty getting higher and with the need for bigger equipments, most people have lost interest in the oldest way of earning free cryptocurrency.
But for decentralization, it also needs a lot of parties that are mining, spread all over the world. For example, right now Bitmain has a huge share of mining power in the Bitcoin network. And in this way, they also have some sort of control. That's why I think we need more smaller businesses like MinedBlock (the best would even be individual miners) that take care of the network. |
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There are only a few exchanges for security tokens. Binance is making a huge move too. There’s a new exchange, LGO, an exchange mainly for institutions. They are all trying to make the right move with STO. It’s not just an ICO, there are rules involved, hope MBTX team talks about exchange listing soon. is there any special terms for a STO project to get listed because i feel they will still operate based on the same listing principle from other exchanges I guess most of us don't have any experience when it comes to STOs, so I am not sure about listing principles. I guess it will be similar to normal ICOs and all depends on the exchange where they wanna list. |
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Either way, listing MBTX on other exchanges will definitely boost it.
Not sure if dev team any plans for it in future.
Why listing is great it may limit the potentials of the project. I rather that they are patient in development a bit, partnership with some good companies like ENJ did then listing in an exchange with Good volume like BitMax. Listing in small exchange will affect project growth I don't really see that an exchange listing can have a negative effect. In my opinion, it's always good when people, who missed out the token sale, can also get the possibility to buy tokens. And I don't think we would see a 'dump' because these tokens have an inherent value due to the fact that they give you a passive income. |
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Either way, listing MBTX on other exchanges will definitely boost it.
Not sure if dev team any plans for it in future.
I am totally sure that they have plans to list their tokens. But since it is a security token, it can't be listed on every exchange. They need a special security token exchange as far as I know. Okay. This is new. Are there any security token exchange that deals solely on security tokens trading? There was already an answer from MinedBlock about exchanges ( https://bitcointalk.org/index.php?topic=5108768.msg49738291#msg49738291) It seems like there are only a few security token exchanges yet (tZero and OpenFinance Network) but it appears like Binance is also working on an exchange for security tokens. |
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Either way, listing MBTX on other exchanges will definitely boost it.
Not sure if dev team any plans for it in future.
I am totally sure that they have plans to list their tokens. But since it is a security token, it can't be listed on every exchange. They need a special security token exchange as far as I know. |
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Last weekend the CS:GO major ended. It would have been a great idea for HEROcoin to sponsor some ads there. There were more than a million viewers at one point and I am sure a lot of them would be interested.
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No updates from the developers could lead us to believe in negative thoughts which could unfortunately could have negative impact on the project but I'm still hopeful it will still go on even with the slimmest possibility.
Just look at their Telegram group. It's getting spammed because it has been completely abandoned. No way that this project will have even the slightest chance to make a comeback. |
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Ofcourse its not exchange but mining platform, however, won't they need an exchange to list MBTX to allow customers/miners to exchange what they earn/gain?
I was asking myself the same question. Hope we get the answer soon. Not sure exactly what you mean to be honest. MBTX tokens will be listed on exchanges pretty surely but these have to be special exchanges that are allowed to trade security tokens. And yes, MinedBlock needs an exchange to trade the coins they mine for ETH (which they then pay out to their token holders). But here they aren't really limited to which exchange they will use for that. What I mean was, whatever crypto we mine over MinedBlock, we will need an exchange to sell it, right. That may be taken care by directly sending them to other wallets or exchanges. Other part was, locally, I think they could be exchanged with MBTX, but in long run, listing MBTX itself on other prestigious exchanges will help more. But 'we' don't mine anything by ourselves. The mining process will be managed by MinedBlock and they will also take care of the conversion of their mining profits to ETH and then the payout of the profits to the token holders. |
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Ofcourse its not exchange but mining platform, however, won't they need an exchange to list MBTX to allow customers/miners to exchange what they earn/gain?
I was asking myself the same question. Hope we get the answer soon. Not sure exactly what you mean to be honest. MBTX tokens will be listed on exchanges pretty surely but these have to be special exchanges that are allowed to trade security tokens. And yes, MinedBlock needs an exchange to trade the coins they mine for ETH (which they then pay out to their token holders). But here they aren't really limited to which exchange they will use for that. |
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Once we are live there will be a live investor dashboard including feeds from the wallet addresses, an approximate calculation of what dividend payment you can expect and the hashrates we are achieving.
We promise 100% transparency
Interesting. Transparency would be at its peak in this way. Is that mean can I already assume that Minedblock has already started with mining? Of course, they haven't started to mine yet. Mining equipment is quite costly. That's why they have a token sale. But I would also be interested when they plan to start their mining business and when token holders can expect their first payouts. |
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Once we are live there will be a live investor dashboard including feeds from the wallet addresses, an approximate calculation of what dividend payment you can expect and the hashrates we are achieving.
We promise 100% transparency
Such an investor dashboard sounds like a great idea but I think to be on the safe side you should also publish the address where your mining profits go to. Just in case someone doesn't trust your dashboard, so that he can check your mining income by himself. |
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