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41  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: March 04, 2019, 09:04:18 PM
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.

We don't have a discount rate contract, we picked it because the normal prices are really low. If we raise enough funds to build a bigger farm initially then we can talk to electricity suppliers about reduced rates.

There is an alternative option available where we could reduce the electricity cost down as low as 2.5 cents a kilowatt hour but we'd need to build a 20 megawatt facility to get that rate
42  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 27, 2019, 09:25:49 AM

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.

There is only one wallet that can manage the token contract and access will be strictly limited to two people. It wouldn't be in our interest to randomly mint tokens, we are trying to create a service which is the opposite to all the previous scam mining projects and actually provide something with value.

We appreciate the fact that there were a lot of bad projects in 2018 and that makes it harder to start out with gaining trust but our number 1 priority is to build a trustworthy service that actually delivers. Give us time and you will see that we are different
43  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 26, 2019, 06:50:52 PM

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.
44  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 26, 2019, 12:13:07 PM

It’s actually a pretty standard way for a project to burn tokens, if you check here in Etherscan and look at the tokens it might make more sense:

https://etherscan.io/address/0x0000000000000000000000000000000000000000

Yes, now its clear.
Actually googled some info and this is generic method of 'burn'ing unused tokens.

But what it differs from usual burning is, this burns them after 5% buy back, instead of direct burning of leftovers from ICO.

This should definitely help this ICO to boom in near future when more investors get convinced about this project.


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.
45  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 26, 2019, 12:03:47 PM
What do you mean exactly when you say that from your monthly profits you will spend 10% on the expansion of the service? Does this mean you will buy new mining equipment?

Yes essentially, we will expand the mining farms with additional equipment based on votes from token holders of where they think we should expand. Expansion fund will also be used to buy crypto to host masternodes which can produce extra revenue

Interesting that token holders can vote on where they want your service to be expanded. How does this voting process will take place? Will we need to sign a message from the address where we hold the tokens or how exactly will this work?

This is still to be finalised. I think we will probably keep it simpler and allow a 'read' of the whitelisted wallet into the Investor Dashboard and your vote will be multiplied based on the number of tokens you hold. There would be some level of scale built in to stop someone with a huge token holding from taking over the vote.

It will be progressed after we hit our soft cap and announced at a later date
46  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 25, 2019, 01:23:15 PM
Amazingly, I completed my KYC and it literally took 3 minutes as indicated on the website. I think that is a welcomed development as opposed to others KYCs that takes some days to get completed.

What information/documents did you supply that enabled you complete yours so quick?
I've been trying to get kyced now for sometime but it's not allowing.
How do I reach the mineblock team to help with manual KYC

There are contact details within the dashboard if you are having problems getting through KYC or you can email contact@minedblock.io

47  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 25, 2019, 01:22:20 PM
What do you mean exactly when you say that from your monthly profits you will spend 10% on the expansion of the service? Does this mean you will buy new mining equipment?

Yes essentially, we will expand the mining farms with additional equipment based on votes from token holders of where they think we should expand. Expansion fund will also be used to buy crypto to host masternodes which can produce extra revenue
48  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 24, 2019, 07:31:23 PM
Being the first mining project issuing security tokens, Minedblock is set to make a difference with future events to give more value to these tokens, like token burn.

Many project that I participated they burn the tokens that not been sold to their tokens sale but in mining project I think burning token is not an option.

Yeah, I guess security tokens won't have token burnings. But the value for these tokens come from the 'dividends' that are paid out to token holders.

Is it even possible to burn security tokens? because this is a mining project where the tokens will be involved in a lot of their activities. I am just assuming though.

This is the first security tokens with mining profit stakes and No, it isn’t possible. At least not with this one. I read that somewhere in the whitepaper. To appreciate the value of MBTX, the team plans to buy back these tokens from holders in bit until there are no tokens in circulation.

Are you sure that they will try to buy-back tokens? Why should they want that there are no tokens in circulation? That makes no sense to me.

The plan is definitely to buy back tokens but not all of them. We will aim to reduce the supply by up to 50% over time. The reason being if you held 1% at the start of the project and held onto them indefinitely, by the time we reduce the supply your 1% becomes 2% of the total. Add to that the planned growth of the service and you should receive a significantly larger amount of value that you did at the start.

We don't want to create a speculative token, we want our token holders to keep holding because the monthly payouts provide real value and to support that the founding team will only personally make money from this project through their own token holding so if our investors don't get paid then neither do we.

How do you guys plan to fund the operation after probably using up the amount achieved during the currently running ICO campaign? Do you guys have a second option to funding? Whats your plan on money back in the case that the project doesn't achieve its target?

Once(If) funded then the mining farms will be self sufficient other than the growth activities which will also be funded by mining revenue as well.

If we don’t hit our soft cap by the end of the main sale on the 31st May then any investment will be refunded. The back up funding option would make it more of a private mining service which goes against the whole principle of making mining accessible for everyone
49  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 24, 2019, 02:17:45 PM

The plan is definitely to buy back tokens but not all of them. We will aim to reduce the supply by up to 50% over time. The reason being if you held 1% at the start of the project and held onto them indefinitely, by the time we reduce the supply your 1% becomes 2% of the total. Add to that the planned growth of the service and you should receive a significantly larger amount of value that you did at the start.

We don't want to create a speculative token, we want our token holders to keep holding because the monthly payouts provide real value and to support that the founding team will only personally make money from this project through their own token holding so if our investors don't get paid then neither do we.

Nice to get replies from the team directly. This kind of interaction gives good hope for the people around here. 50% of the tokens for buyback? What kind of timeframe are we talking about here?

Yeah agree on you, its so nice that the admin keep on responding and being active not only in telegram but also in the thread.

I would understand that’s because it’s the first STO from a mining project and they have an experience team that would do all it takes to get this right. First, they took a bold step by being the first mining project to promote investors from harsh regulations.

To think yesterday that I said they wouldn't burn any tokens? Or will they burn the tokens that are bought back or sold back to big investors?

They can only burn tokens if they make that as an option to unsold tokens, usually it is made known by the team before hand

Just read what is said in the messages above. They will spend 5% of their profits to buy back tokens and send these tokens to a dead ETH address and remove them from circulation (burn them) this way.

I am in crypto market for almost 2 years now, but never saw such unique fair strategy.
Quoting reason of this kinda creative  'burn' theory from whitepaper:
The primary aim of the buy back will be to reduce the supply and increase the ‘return per token held’ by customers

Isn't this amazing way to keep alive and booming the ICO... Great job devs...


Actually, buy-backs are a pretty common strategy. But normal ICOs have the risk to get deemed a security token when they are offering a buy-back program.

What is the effect of sending the tokens to a dead eth address. Will this reduce their total supply in any ways? Or is it seen as another method of burning tokens? I really don't get it.

It’s actually a pretty standard way for a project to burn tokens, if you check here in Etherscan and look at the tokens it might make more sense:

https://etherscan.io/address/0x0000000000000000000000000000000000000000
50  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 22, 2019, 05:18:07 PM
I see them bringing plenty of new things, regulated things from the last ones. Its actually true how market  is being manipulated! So their idea of This much regulation makes sense despite me being a hater of This KYC stuff!
Why do people hates this KYC stuff? i just dont get its for the safetyness.

I think they don't want to give their private information for security purposes and some project have KYC that become scam and get all the people private information with them and I think they are using it for something.

Our KYC is all provided by a 3rd party called Sun & Substance so we don’t have any access to any private information
51  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 22, 2019, 02:42:15 PM

The plan is definitely to buy back tokens but not all of them. We will aim to reduce the supply by up to 50% over time. The reason being if you held 1% at the start of the project and held onto them indefinitely, by the time we reduce the supply your 1% becomes 2% of the total. Add to that the planned growth of the service and you should receive a significantly larger amount of value that you did at the start.

We don't want to create a speculative token, we want our token holders to keep holding because the monthly payouts provide real value and to support that the founding team will only personally make money from this project through their own token holding so if our investors don't get paid then neither do we.

So how will this buy-back program look like? In what period of time do you want to reduce the token amount by half? Will you buy a certain amount of tokens back every month? Or how many tokens will you buy back per year/month?

Our plan is to spend 5% of profits each month buying back tokens to burn. How long it takes to reduce the circulation by 50% is affected by the market price, how many are for sale, what the 5% actually equates to... there are a lot of variables so I wouldn't hesitate a guess.

Okay, I understand. It's actually a pretty nice idea with this buy-back program. This way it is possible to drive up the price of the tokens and also increase the rewards that token holders get.

What will happen with the tokens that you bought back? Will they be burned?

Yes, they will be sent to a 'dead' Eth address and removed from circulation
52  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 22, 2019, 02:41:06 PM
One thing I am trying to understand is how the 75% will be shared to token holders. Does it mean each holder is entitled to 75% or 75% revenue will shared among every holder of MBTX?

Of the profits we generate each month they will be split as below:

75% - shared between token holders
10% - to be spent on expansion of the service
10% - for operational costs
5% - to buy back tokens to remove from circulation


Great, I fully understand this now thanks for taking out time to reply. Also, under what circumstances will the distribution not be possible. Or is it 100% guaranteed that the revenue will be distributed?

75% of revenue will always be shared, how much that equates to will depend on the rest of the market. If it really becomes unprofitable to mine anything then at a minimum there will be masternode revenue to share. Whatever happens, token holders will always know how much is being produced via the investor dashboard which will have live feeds from our farms and wallets
53  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 21, 2019, 07:09:19 PM

The plan is definitely to buy back tokens but not all of them. We will aim to reduce the supply by up to 50% over time. The reason being if you held 1% at the start of the project and held onto them indefinitely, by the time we reduce the supply your 1% becomes 2% of the total. Add to that the planned growth of the service and you should receive a significantly larger amount of value that you did at the start.

We don't want to create a speculative token, we want our token holders to keep holding because the monthly payouts provide real value and to support that the founding team will only personally make money from this project through their own token holding so if our investors don't get paid then neither do we.

So how will this buy-back program look like? In what period of time do you want to reduce the token amount by half? Will you buy a certain amount of tokens back every month? Or how many tokens will you buy back per year/month?

Our plan is to spend 5% of profits each month buying back tokens to burn. How long it takes to reduce the circulation by 50% is affected by the market price, how many are for sale, what the 5% actually equates to... there are a lot of variables so I wouldn't hesitate a guess.
54  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 21, 2019, 11:13:24 AM
One thing I am trying to understand is how the 75% will be shared to token holders. Does it mean each holder is entitled to 75% or 75% revenue will shared among every holder of MBTX?

Of the profits we generate each month they will be split as below:

75% - shared between token holders
10% - to be spent on expansion of the service
10% - for operational costs
5% - to buy back tokens to remove from circulation
55  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 20, 2019, 09:55:26 PM
Being the first mining project issuing security tokens, Minedblock is set to make a difference with future events to give more value to these tokens, like token burn.

Many project that I participated they burn the tokens that not been sold to their tokens sale but in mining project I think burning token is not an option.

Yeah, I guess security tokens won't have token burnings. But the value for these tokens come from the 'dividends' that are paid out to token holders.

Is it even possible to burn security tokens? because this is a mining project where the tokens will be involved in a lot of their activities. I am just assuming though.

This is the first security tokens with mining profit stakes and No, it isn’t possible. At least not with this one. I read that somewhere in the whitepaper. To appreciate the value of MBTX, the team plans to buy back these tokens from holders in bit until there are no tokens in circulation.

Are you sure that they will try to buy-back tokens? Why should they want that there are no tokens in circulation? That makes no sense to me.

The plan is definitely to buy back tokens but not all of them. We will aim to reduce the supply by up to 50% over time. The reason being if you held 1% at the start of the project and held onto them indefinitely, by the time we reduce the supply your 1% becomes 2% of the total. Add to that the planned growth of the service and you should receive a significantly larger amount of value that you did at the start.

We don't want to create a speculative token, we want our token holders to keep holding because the monthly payouts provide real value and to support that the founding team will only personally make money from this project through their own token holding so if our investors don't get paid then neither do we.
56  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 20, 2019, 02:40:50 PM
the team would be have the responsibility of maintaining and replacing the mining facility and deciding what token would be more profitable to mine. Token holders don’t need to do that themselves, you just earn a passive income.

One unique shortcoming of projects such as this is the sudden incommunicado that follows shortly after sales
What is the plan of the team in the case they do not achieve their target afterward??

Our absolute number one goal for our investors and customer is transparency. As long as we hit our soft cap, anyone involved with the project will always know exactly what’s going on.
We intend to keep our telegram group alive, the Security Tokens entitle investors to vote on how we expand the service we offer. There will be regular newsletters (even if it’s just to say hi) we intend to install live webcams into the mining farms so you can always have a look at what’s going on.
We’re trying to build a community driven service, we won’t abruptly cancel your service like some cloud mining companies have in the past and we certainly have no plans of raising money and vanishing into thin air.

The difference with our project is in principle it’s relatively simple to deliver, we’re going to provide a service. We don’t have a wild idea with lots of ‘ifs’ and ‘buts’ about its delivery
57  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 19, 2019, 10:48:35 PM
It got to me while going through the minedblock Whitepaper first page that this have got to be the first mining STO we've got today, I invested in quite an handful of mining companies last year that promises a share of their revenue but are not able to scale due to the fact that they aren't registered yet by SEC

Investors are safe here  Shocked

In my opinion it might be still be too early to call as they are just beginning again. But from the way they have organised themselves, it seems like investors will be safe.

Yeah, and also they are Also STO now I believe minedblock have staged themselves to be a great project now let hope all goes well with this new approach

That's right, they have a great comeback when they have STO right now more people will participate and more investors will catch eyes to invest a project like this that have STO.



Impressive work done by Minedblock team to protect every investor. Now to clear this, are there any restricted countries? Can anyone from countries like US CANADA CHINA participate?

Not at this stage, they would need to be accredited investors. Getting through the SECs Regulation A registration is expensive and not something we could undertake as a newer project. It is on the to do list for future raises though
58  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 19, 2019, 08:27:42 PM
We have added the ability to invest using Bitcoin, Litecoin, Ethereum, Binance Coin and Neo. These options are available once you have passed KYC and have been whitelisted.


When you now have a lot of different cryptos to invest with, when is it decided how many MBTX you get for your BTC, LTC, ETH, BNB or NEO? Will it be based on live exchange rates?

If you invest through the Poly smart contract it’s on a 1:1 basis. Using the other methods the pre-sale price is set to $0.10 so you’ll get however many you pay for through the checkout process.

This represents a 33% discount on our main sale price.
59  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 19, 2019, 07:28:45 PM
We have added the ability to invest using Bitcoin, Litecoin, Ethereum, Binance Coin and Neo. These options are available once you have passed KYC and have been whitelisted.


Great job guys. It’s great to see more options other than bitcoin and Ethereum have been added. Is there a YouTube video to assist newbie on how to participate in token sale for STOs?

https://youtu.be/u9_PPF5OAWo
This video explains the service and the project.

The instructions on how to invest are detailed in the user dashboard when you pass KYC on our website https://www.minedblock.io

This is really interesting video with to the point statements and attractive graphics.
Simplified version of white paper. :-)

That was the aim. Whitepaper in 90 seconds  Smiley
60  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] - MinedBlock - STO - Pre-Sale Live 15th February on: February 19, 2019, 06:49:05 PM
Electricity cost could go so high to cut down profits on mining. Minedblock would be using 100% green electricity in highly cost effective locations.

There’s electricity cost and cost of mining hardware too. With increasing Mining difficulty you can’t use a standard computer to mine, you’ll need a specialized mining hardware. What mining hardware would Minedblock use?

In the white paper, they said that they are use ASIC miners and custom GPU and they will be build in UK to ensure and check before moving it to other locations such as Iceland, Canada or Sweden. (Whitepaper page 11-12)

I guess that’s the beat miners they could find. Why mining in Canada, Sweden and Iceland? How about the cost of mining in these locations and government regulations?

We’ve picked Iceland as our first location. The electricity is extremely cheap there and the climate reduces the cost of cooling dramatically
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