For several days now, still no reaction/response to my posts from minerone.io  Seriously, i think that's no appropiate way to handle this annoying inconvenience, which hits early investors very hard. When i did an early FIAT investment with 35% bonus, this ROI Calculator indicated about factor 7 (x7) for 3 years. Today it shows about factor 6,5. Since as an early investor i received about 50% less MiO tokens than an invest today would give me, this calculator is more of a funny estimator with very positive assumption at every time. Still hoping for a goodwill action, to compensate the disadvantage of early supporters/investors ( additional free MiO Tokens for early investors, who got hit hard by the drop of Ethereum-rate due to the fact, Miner One doesn't calculate the price of MiO in FIAT, a currency by the way they have to use for buying hardware, pay for electricity etc.). Dear RLodbrok, as we have said already several times, there is no reasonable principle in accordance with which we could compensate every investor for every decline in one exchange rate or another. This is clearly stated in our Terms and Conditions and is also just common sense. Investments in this very new field are not without risk and we have been very open and clear about those. That said, we remain confident that Miner One will operate profitably and MIO Token Holders will enjoy the benefits. |
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what a pity that that we have to wait the beginning of the first mining center construction for so long. And ICO isn’t even coming to its end…
I’ve read in the technical documentation that as soon as the soft-cap is collected, they will order the first equipment and they will begin to launch the first center. Wow, but that's a big risk, why did they decide to do so? Why is it a big risk? Soft-cap is already collected, ICO is considered successful. The sooner they start to do everything, the sooner they finish and start to make profit. Besides, the equipment for cryptocurrency mining is constantly growing in price, so the company will also win here. That has been the plan, but we are currently surveying MIO Token Holders to gauge their views on waiting a few weeks to give ETH some time to make an expected rebound. Fortunately, miner prices are falling pretty substantially right now, which makes up for the ETH drop to some extent. |
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Those interested in purchasing 250,000 MIOs or more should contact vip@minerone.io |
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Why can't the company say now how much equipment will it buy for the first mining center?
Because it will depend on the final amount raised during the crowdsale. |
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Why didn't you consider the option of placing solar panels to provide electricity to yourself?
Because it's not needed in Luleå, where electricity is cheap, plentiful, and 100% green. It would just mean additional and unnecessary expenses that cut into profits. |
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I somehow missed the pre-ICO. Did the conduct it?
Miner One began in the fall of 2017. A pre-ICO has already taken place and the Crowdsale has started on February 15 and is live now. Mining will begin within 3–5 months of achieving our soft cap. |
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What cryptocurrency will you focus on?
BTC will be the focus for starters. If we see a need, we can diversify later using the 23% of net output designated for equipment upgrades to buy the hardware needed for other cryptocurrencies. |
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I do not quite understand why the MIO token will be the basis of the company's business model? Aren't these mining centers?
In fact, tokens will be the basis. After all, their sale raises funds for the construction of the first mining center. And MIO tokens will then be used to understand how many dividends to pay and to whom. Huh, you explain interestingly. It's hard to disagree with you. Haven’t they started the construction of the first mining center, yet? No, they will start it only after the end of the ICO, when they see the results. In other words, how much money is collected. They promise to build the first mining center within 3-5 months after the end of the Crowdsale. How many dividends they will pay on a monthly basis? Or the payment will occur on a quarterly basis? It's good that this project pays dividends to the holders of the tokens, but, as far as I know, many exchanges do not add such tokens. How does the team plan to get around this? MIO Token will be avaliable on peer2peer exchanges after the ICO will be finished, the detailed information will be announced close to the end of ICO |
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I do not quite understand why the MIO token will be the basis of the company's business model? Aren't these mining centers?
In fact, tokens will be the basis. After all, their sale raises funds for the construction of the first mining center. And MIO tokens will then be used to understand how many dividends to pay and to whom. Huh, you explain interestingly. It's hard to disagree with you. Haven’t they started the construction of the first mining center, yet? No, they will start it only after the end of the ICO, when they see the results. In other words, how much money is collected. They promise to build the first mining center within 3-5 months after the end of the Crowdsale. How many dividends they will pay on a monthly basis? Or the payment will occur on a quarterly basis? The payouts will be done monthly, as of how much - right now, no one can predict that. Crypto is a very new and volatile field, so we cannot make any promises or predictions – only estimates based on various scenarios. |
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What will be the cooling system at your objects?
In general in Lulea air is cool (average annual temperature is 2C), which keeps cooling costs minimal. |
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Who will have access to viewing video from surveillance cameras on the Internet? On what site can this be done?
You can have an access to internet surveillance cameras, but to avoid risks to the security of the building, the link can be provided in personal communication. |
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Now mining centers are often plundered or simply destroyed. You will take care of your mining centers protection?
We plan to have extensive security measures as well as insurance to protect against equipment-related losses. |
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I do not quite understand why the MIO token will be the basis of the company's business model? Aren't these mining centers?
In fact, tokens will be the basis. After all, their sale raises funds for the construction of the first mining center. And MIO tokens will then be used to understand how many dividends to pay and to whom. Huh, you explain interestingly. It's hard to disagree with you. Haven’t they started the construction of the first mining center, yet? No, they will start it only after the end of the ICO, when they see the results. In other words, how much money is collected. They promise to build the first mining center within 3-5 months after the end of the Crowdsale. How many dividends they will pay on a monthly basis? Or the payment will occur on a quarterly basis? It's good that this project pays dividends to the holders of the tokens, but, as far as I know, many exchanges do not add such tokens. How does the team plan to get around this? Concerning list of exchanges , the full information will be available after the end of ICO. If you buy MIO tokens after ICO on exchange, you as well will get the same payouts (up to 13%). |
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What will be the cooling system at your objects?
We will only need ventilation equipment. The outdoor air in Luleå is cold enough to keep equipment cool – one of the advantages of locating there is that we save money on air conditioning. |
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Now mining centers are often plundered or simply destroyed. You will take care of your mining centers protection?
Full security will be provided, so, yes. |
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What will you do to protect your objects from fire? In my opinion, it is very important when working with such temperatures and such a large amount of equipment.
It's absolutely important. Please read the White Paper - we wrote it so that everyone could find answers to questions like these: www.minerone.io |
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Will your mining-centers be located far from populated areas? I’m just wondering how much time engineers will spend to get to them in case of breakdown.
They are in Luleå town itself, so, no, they won't be far. |
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It is a pity that such “big experts”, that work in MinerOne, haven’t thought about the stability of the Internet connection to their center yet. And this is the second most important thing after a stable power supply.
Hope you have chance to read our report from Sweden. We will have two high-speed internet lines provided by Lunet. https://medium.com/@minerone.io/miner-one-moves-forward-in-sweden-d94b0c9bf2ba |
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Hi all. I thought you might be interested in a Google docs sheet I put together. It has some very conservative projections which may help you decide whether to invest. I've tried to do some due diligence before making my decision, I've read the whitepaper a few times, read all of the FAQs on the website, watched 4 livestreams on Facebook, researched the principals on the team, and participated in the Telegram group. By the way, side note: all of the support personnel I've dealt with on Telegram have been very helpful. It's not my favorite medium for information, but they've all been pretty good. I've also corresponded briefly with one of the principals regarding getting accredited in the US. I suggest everyone else does their own investigation and possible projections of outcomes. Read the whitepaper and realize that the initial projections were when BTC was at $14,000USD and difficulty was lower than it is now. Realize that all numbers on the website and whitepaper are good faith estimates and that things change over time. I am making my decision not on whether I'll get 471% return, or 13% in a month, I believe these are less likely to happen, and we know certainly not guaranteed. If they do happen, that's just a happy bonus. My decision is based on whether it will diversify my investments into a productive venture, is the project likely to succeed in the stated plan. Secondarily, i look to see whether it's better or worse than some other investments I could make, while realizing this is difficult to project. The spreadsheet I'm linking looks at the cost of BTC today and potential prices in 3 years. It also makes various assumptions, because assumptions are all I can go on. I know how many MIO have been bought, but I don't know the amount of fiat this equates to (or will equate to when they need to purchase hardware), I'm guessing on a number I think the ICO might raise by the end (May 14). You're welcome to change any of the assumptions I made in the spreadsheet in your own downloaded copy. Assumptions: - $6M USD raised in ICO
- 35% of whatever money is available for build-out goes to infrastructure (source: Whitepaper, livestream question)
- Electricity cost is not part of the 4 - 5% maintenance cost (source: common sense, this bitcointalk thread)
- The 23% reinvestment is able to only keep pace with difficulty. Note: This is a conservative estimate compared to the whitepaper, which sees an increasing BTC production over time. I'm hopeful that this happens, but I didn't want to require it to base my decision on. I think the 23% reinvestment rate is a great idea and should be the key to long term success, but again, very conservative approach assuming Miner One can't gain against difficulty.
- Not accounting for any change in ETH because it makes projections too difficult. Even though payments are in ETH, I'm imagining the payout in BTC.
- Not accounting for: Changes in electricity cost or block reward halving (est. 31May2020)
As you can see, if BTC stays at $6750, it's better for me to buy BTC at this point than invest in MinerOne given my conservative assumptions. However, if you think BTC will be at $6750 in three years, I guess you wouldn't invest in it anyway. If BTC rises modestly to $11,000 - where we were 24 days ago - I will have more BTC at the end of three years than I could purchase today. If BTC rises to $50,000 in three years, I'd have 30% more BTC then than I could buy now. Because of these very conservative estimates (pessimistic in fact), I have made the decision to invest myself. My expectation is that the team will be able to beat my numbers, at least modestly and perhaps substantially. Context: I've bought and currently run mining at home (not BTC), more equipment will be going to co-location in a few months, I've purchased a BTC mining contract at Genesis Mining which is still active. I like the idea of diversifying into a more transparent project where the founders and the supporters interests are aligned. I believe the team is able to execute creating and running a data center, which is largely what a mining farm is. I think the distribution of tokens is fairly equitable (82% to the public purchasers). As stated above, I also think the 23% reinvestment fund is key to success, and keeping a company reserve makes sense also, though hopefully we never have to use it. I do wish they had immediately converted their ETH to fiat, as other projects I've been involved with did. If you have near-term expenses in fiat denominated prices, it doesn't make sense to hold crypto for a long time. They said they didn't want to time the market, so they didn't sell, but now they're considering delaying purchase of the equipment. How is that not also timing the market? The best thing would have been to get out of the market once you got the payment. Of course I agree that getting out now would also be a terrible idea - yes I realize I'm advocating market timing haha. Spreadsheet: https://docs.google.com/spreadsheets/d/1VD-G1n5PZj1_d3SQfsyvqyw4BbDTHLn2_gmGzVgYQJY/edit?usp=sharingIf anyone sees any glaring mistakes in my calculations, please let me know. We can debate the assumptions, but everyone is likely to have their own assumptions. If you have a strong argument for why any of my assumptions are poorly made, feel free to discuss. Lastly, if you've found my efforts helpful to you, and you decide to invest for yourself, feel free to use my referral link to get an extra 4%. https://wallet.minerone.io/Referal/0af29b2f-567d-453f-9925-859affea46dcThank you for your in-depth analysis and for your confidence in us, Rocknet! Welcome aboard. |
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