Although there are just a few projects which are licensed to issues STO tokens, Would you be able to provide me info how you guys are attracting customers to your exchange with all the competition and bearish market trend?
I don't understand exactly what you mean with 'attracting customers to your exchange'? Not sure what MinedBlock has to do with an exchange but I guess you want to know how they can attract investors to their tokensale? I guess their best selling point is that they are fully compliant with SEC regulations and that they are hosting an security token offering. And also the possibility to get a passive income by just holding their tokens is a nice perk of MinedBlock. |
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Speaking of other mining projects ... Are there any other competitors to Minedblock that are also going the security token route? I heard of eGold Mining for example. How is that project different to Minedblock?
eGold Mining shares some similarities with our project but there are a few differences: - They have a smaller dividend share than we offer - 50% vs 75% - They plan to keep 20% of the total token supply vs the 5% that we plan to keep I'm unsure of how they are securing their tokens. We are using a clear 1-to-1 token to share model for the 'security' of the tokens. eGold plan to use 5% of their net profits and put them into an escrow account which means there will be a significant period of time before they match the 'secure' money to the invested funds. It would be better to do your own research and see what you think. Thanks for this quick comparison. If this business model proves to be successful, I am pretty sure we will see more security token offerings for mining projects in the future. Especially, when the crypto market recovers again. |
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Speaking of other mining projects ... Are there any other competitors to Minedblock that are also going the security token route? I heard of eGold Mining for example. How is that project different to Minedblock?
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I’ll like to know, how does Minedblock plan to share updates on mining profits and cost? With investors not being a part of the mining process, I’ll like to know how Minedblock team plans to be transparent with profits?
Not sure if this is possible but maybe they can mine their coins to an address that everyone who is interested can check all the time and in this way see exactly how much they made with mining. Transparency is here very important. |
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Cost of Electricity could go so high in some countries. I don’t know about Iceland and Sweden. But what plans do you have to cut down the cost of electricity in these mining facilities? Is there a partnership, contract or something.
Especially in Iceland there is the possibility to use electricity from geothermal power plants. Keeping in mind that we should do something to battle global warming, I hope that they will get their electricity mainly from renewable energy sources. |
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What miners would you be using in your facility? Your roadmap shows investors should expect first payouts by Q3 of this year, would that be possible with the current state of your token sales?
I just checked their Whitepaper again and it looks like they are getting a mixture of ASIC miners (Antminer S9 / L3++ and D3) and GPU mining rigs. With this set-up they can mine a broad range of different coins, depending on which one is the most profitable. |
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This looks like a few old mining project except that tokens distributed would be STO tokens and would have less restrictions. Also mining more tokens other than Eth is a nice idea.
yeah agree on you, i really like their mining feature which while you mine other tokens, you can also get extra token from them. You will always get paid out in ETH, you won't get the crypto currencies that they are mining. They will convert them and pay out the profits in ETH. But which coins will they mine with their mining facilities mostly? |
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I see some people talk about retailer communities that invest in ICO project which have been vetted and given a high ranking. I think it’s best for Minedblock to get a good rating from these communities.
Yeah, positive rating will go a ling way in ensuring they get decent investors I would advise the team to make sure they get positive rating as much as they can This almost sounds like they can actually have a direct influence on their ratings and let them look positive. I hope this is not the case. I think the best they can do is ask these sites to do a rating but then these sites should decide completely on their own and only based on their opinion about the project. I think even these ICO ranking websites , alongwith project potential and uniqueness , also look upon popularity in public.. This in turn affects future ranking based on volumes. Or ... they are looking to get the most money for the best rating? Not saying that every website does this but I wouldn't trust any of them at all. |
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I see some people talk about retailer communities that invest in ICO project which have been vetted and given a high ranking. I think it’s best for Minedblock to get a good rating from these communities.
Yeah, positive rating will go a ling way in ensuring they get decent investors I would advise the team to make sure they get positive rating as much as they can This almost sounds like they can actually have a direct influence on their ratings and let them look positive. I hope this is not the case. I think the best they can do is ask these sites to do a rating but then these sites should decide completely on their own and only based on their opinion about the project. |
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Of course, they will have KYC. Their Telegram admin confirmed it already (Quote: 'Anyone who wishes to participate will have to go through KYC (know your customer)') and it's also stated in their whitepaper. So no need for further discussions imho.
How about the privacy issues? Did the team comment on that? What do you mean exactly with 'privacy issues'? If you are afraid that your personal data, which you have to submit in order to get KYC verified, falls into the wrong hand, there's probably not much that I can say to calm you down. It's the same with every project that has KYC and most of the time the projects also hire a provider that takes care of all the KYC stuff. |
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I'm pretty sure if they need kyc they would have determined VERY early on if it was needed and if it was something that everyone was going to need or at what level that kyc would kick in i mean i've seen some groups that only had it for over say 500-1000+ investments some only do small email verifications for say under 250 it comes down to what the law and team says
Of course, they will have KYC. Their Telegram admin confirmed it already (Quote: ' Anyone who wishes to participate will have to go through KYC (know your customer)') and it's also stated in their whitepaper. So no need for further discussions imho. |
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Minedblock team did a great job getting SEC approval. No cryptocurrency mining based project can offer that atm. This puts Minedblock way ahead of competition. Btw, I’ll like to see proof that Minedblock tokens are actually Securities?
I know it was already discussed but I am still not 100% sure yet: Do they already have the SEC approval or will they (try to) get it when they have raised the money necessary for it? |
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It's not even mandatory for kyc to be utilized in purchasing the tokens. I would advise that the team makes the purchase of tokens to be less complicated and user friendly. This would help to increase participation in the token sales and as such ensure that more funds are raised.
So you are saying that there won't be KYC necessary for the token sale? Where did you get this information from? In their Telegram group they said that KYC is mandatory! There's an obvious misconception in your view. I meant that kyc is not mandatory to purchase tokens. Purchasing tokens and withdrawal is two different things. You should be able to purchase tokens without kyc, but if you need to withdraw the tokens to your wallet address, you need to pass the kyc. I do hope that you got the clarification. And who would like to buy tokens without being able to withdraw them then? Even if you would be able to buy them without KYC, when you need to be verified to withdraw them, it's basically mandatory to do KYC. |
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Read somewhere that the company is registered in the UK, could we have a pictorial proof of office sent here to the thread for evidences. Do the UK allow for ICO to be conducted within the country?
I am not sure about the legal situation in the UK but aren't they doing this fully compliant STO exactly because of that? So that there aren't any problems with public authorities? |
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Neuroneum team should make the KYC process easy and quick for anyone. Also, some investors want to know that information gotten from the verification process is secured and kept private.
Yeah agree on you, they make it easier to be accepted and keep the information private even though the project will not succeed (only if). Because other projects use this info. I think KYC is hard to process right now because it needed a lot of time to check if that's ID is good or real and not been edited they have a standard for every different ID's in every country. Hmm, not sure what experience you made with KYC so far but there are KYC providers where the whole process takes no more than a few minutes. |
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Well, nowadays KYC has become standard for most of the ICOs. That's why I was surprised when someone said that they won't have KYC at Neuroneum. Next time it's better to check Telegram or the official whitepaper.
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Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?
There is no upper limit at the moment, we will mint as many as are sold. The STO contract is more suited to traditional fundraising methods where you can run multiple funding rounds over time. Any future rounds will always be offered to existing token holders before they are made public though and there is no real risk of dilution because any extra funding will be matched by the increase in the mining operation. What do you mean with 'future rounds' exactly? Do you plan to host more founding rounds from time to time to expand the service? We don’t have anything planned but the option is there if we ever wanted to go down that route. We need to concentrate on the pre-sale and main sale for now. When the smart contract can be changed to allow the minting of new tokens at any time, what do you do in order to prevent that someone from your team abuses this function to create tokens for himself to then sell them on the market? I am not saying that I think that this will happen at your project but just recently (last October) exactly this scenario happened at a project called Oyster Pearl. So I was just wondering what's your opinion on this. |
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It's not even mandatory for kyc to be utilized in purchasing the tokens. I would advise that the team makes the purchase of tokens to be less complicated and user friendly. This would help to increase participation in the token sales and as such ensure that more funds are raised.
So you are saying that there won't be KYC necessary for the token sale? Where did you get this information from? In their Telegram group they said that KYC is mandatory! |
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If i'm not wrong, I fear the Telegram channel of this project has been abandoned and has been spammed yet we have no news from anyone coming from the team. This must be a casualty from the recent crypto winter. So unfortunate.  Yes, it's pretty obvious that this project is dead. I think once they realized that their tokensale isn't going as planned, they abandoned everything pretty fast. It's a shame since it had some nice ideas imo. |
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Is there something like unsold tokens for an STO after all? Or better: What will be the total supply of the tokens? Is there a fixed number in your smart contract or will you create/mint as many tokens as you sell?
There is no upper limit at the moment, we will mint as many as are sold. The STO contract is more suited to traditional fundraising methods where you can run multiple funding rounds over time. Any future rounds will always be offered to existing token holders before they are made public though and there is no real risk of dilution because any extra funding will be matched by the increase in the mining operation. What do you mean with 'future rounds' exactly? Do you plan to host more founding rounds from time to time to expand the service? |
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