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Is this open to anyone?
Since our offering is a Reg D 506c offering we are only accepting investments from accredited investors globally (US + International). Thanks for the response. What makes your project different than MinedBlock? The main difference between Pivent and MinedBlock is that we are not only focused on building a mining operation that brings our investors a good ROI. We are also focused on how to solve problems of today, such as affordable housing, by building solutions that combine our mining operation's goals to expand and grow our operation with our vision to build diverse and inclusive communities. Their approach of offering both a STO and utility token is different. It is interesting that the utility token came later, as opposed to with the launch of the STO. This shows that they are still changing what they are offering as a service/product. It's not clear why they created another token instead of using the existing token that was created before their security token. At the end of the day, it is about learning and adapting, so we both have that in common. Other differences are: - We have built 2 proof-of-concept mining farms that are fully managed remotely.
- We have developed our own web application, web services, and tools to manage and monitor our mining farms.
- Our team is composed of current and former Microsoft/Amazon engineers with over 10 years of experience, so we have an advantage when it comes to building robust and scalable systems.
Hello all, We wanted to share an update about our STO. After discussing with the advisors, we have decided to open the offering up using Regulation S. This means that non-US based investors only need to only pass the KYC and AML checks. We are also reducing the minimum purchase amount to $5 USD for non-US based investors and $75 USD for US based investors. We hope these changes will allow for more people to invest in Pivent and help us to solve socioeconomic challenges using cryptocurrency mining. To get started visit us at https://pivent.com/register to get started.
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Is this open to anyone?
Since our offering is a Reg D 506c offering we are only accepting investments from accredited investors globally (US + International). Thanks for the response. What makes your project different than MinedBlock? The main difference between Pivent and MinedBlock is that we are not only focused on building a mining operation that brings our investors a good ROI. We are also focused on how to solve problems of today, such as affordable housing, by building solutions that combine our mining operation's goals to expand and grow our operation with our vision to build diverse and inclusive communities. Their approach of offering both a STO and utility token is different. It is interesting that the utility token came later, as opposed to with the launch of the STO. This shows that they are still changing what they are offering as a service/product. It's not clear why they created another token instead of using the existing token that was created before their security token. At the end of the day, it is about learning and adapting, so we both have that in common. Other differences are: - We have built 2 proof-of-concept mining farms that are fully managed remotely.
- We have developed our own web application, web services, and tools to manage and monitor our mining farms.
- Our team is composed of current and former Microsoft/Amazon engineers with over 10 years of experience, so we have an advantage when it comes to building robust and scalable systems.
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We are a team of two at the moment. Eric is managing the day to day operations full-time. Once we hit our soft cap of $500k, we will purchase our first facility and order the equipment. At that time will be adding one additional employee that is an experienced software engineer and miner to help with managing operations and development of our platform.
On your first ann post you are claiming that you have neither soft- or hardcap. Did you change this recently or what? Yes, after discussing with our advisors, we decided to remove the soft and hard cap for our offering. This was done to allow us to immediately start using funds to purchase and deploy mining equipment and start the process of purchasing our first facility. So, we are essentially aligning our offering to match the traditional offering model as we are past the concept stage. We have built a proof of concept mining farm, written software (web application + tools) to deploy, manage, and monitor mining operations, and have limited capacity (up to 20 miners) to immediately start mining operations until we have purchased our first facility. Our feeling towards having a soft cap, especially as it relates to ICOs, is that the purpose of the soft cap is the point in which a team can go off and implement their goals. For us, this number is virtually $0 as we have the capacity to start executing our plans now.
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Is this open to anyone?
Since our offering is a Reg D 506c offering we are only accepting investments from accredited investors globally (US + International).
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Are you sure you can change the socioeconomy in the community? This is a good idea and I think there are many people who will support you, but how do you do it?
I believe that this is possible. It requires a shift in the way we all think in general about life and work. We are approaching a time where we see more and more jobs being eliminated due to advances in AI, automation, and robotics. This is great that we are heading down this path, as it frees up us humans to do other things that we may be more passionate about. In the face of these great technological advancements is a glaring question. What about the people? What I see are companies making leaps and bounds in technology, but failing to prepare the workers for a future that embraces this technology. This type of change is not something that will occur overnight. It is a process that we all must undergo to reach a better place. And we all, including companies, have to do our part to make sure this future is diverse and inclusive. So, where does Pivent fit in this picture? I see Pivent making the first steps into this new world by doing things a little different. We will be a for-profit company focused on giving back to the community. For us, this takes form in our socioeconomic initiatives. The first initiative we will focus on is making housing affordable for everyone regardless of the circumstances and where they want to live and work. To accomplish this Pivent will need help. Pivent will develop a model that combines using profits from mining cryptocurrencies to subsidize/offset the cost of housing. We will then work with non-profit organizations to identify families that meet certain criteria and could benefit from our partnership. Once we have a solution that is proven and demonstrates it's ability to scale, then we will identify our next initiative and start marching towards solving that challenge.
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So, this is a one man company? Where will you host your mining farm? What's your experience on crypto currency mining? (Also, do you have any signature bounties etc?)
We are a team of two at the moment. Eric is managing the day to day operations full-time. Once we hit our soft cap of $500k, we will purchase our first facility and order the equipment. At that time will be adding one additional employee that is an experienced software engineer and miner to help with managing operations and development of our platform. Our first facility will be in Washington state, where we have access to hydroelectric and nuclear power. Eric is a software engineer by trade and has been mining for over a year. He started off with a GPU rig and 4 Baikal X10s and grew it to a GPU rig and 58 Baikal X10s and 4 Baikal G28s. During this time, he experimented with different setups to minimize space usage and exhausting heat to make sure the miners operate at a reasonable temp (30C/~85F). He also built the infrastructure (services/scripts/hardware) that controls and monitors the miners pools, fan speed, uptime, and other configurations. We do not have any bounties right now, as we are using our available funds for social media/community management and legal expenses.
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Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?
Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors. So you need to be aggressive with your STO phase. Does it mean also that you are dependent with the funds raised if this platform is a go or no go? You have your documents in place already that shows your sincerity for this project but in the worst case scenario, what if you didn't hit your target funds? Any plans afterwards? The expansion of our mining operation is dependent on the funds raised. At a minimum, we will need to purchase our first facility in order to continue growing. If we do not hit our soft cap of $500k by the end of the STO, then we will refund all of the funds back to the investors. The mining operation will go on, but will grow very slowly given today's environment. This would be done by swapping aging ASIC equipment out for FPGA equipment, as they are important to our long term goals. We'll also push for our socioeconomic initiatives, just in a limited capacity. Thank you for being transparent with your plans. I asked such question because there is no guarantee that a certain project can always achieve their soft cap even via STO, which is I believe better than ICO. At least we know that you are still pursuing your platform if in case you are not able to hit your soft cap. This is the usual bottleneck of most projects. Yes, I feel it is very important to be transparent and upfront as possible. This is very true, given two identical companies, one will succeed while the other will fail. It seems strange that it happens, but it does. We are approaching this as a marathon and not a sprint. That is why our STO will be open for one year or until we hit our hard cap. It is very important that we get the right set of investors that believe in the future of cryptocurrencies and are passionate about giving back to make a meaningful change in the world. Thank you for asking the question and giving feedback as it helps to get more perspectives which helps us grow.
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Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?
Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors. if the ico is a success and you reach the hard cap. so in which country/location that you mining will works? We will be starting in US, more specifically Washington State. Once the hard cap is reached, we can start the work with our local electric company to provision the first location with 3 MWs of power which is primarily sourced by hydroelectric (~90%) and nuclear power (~9%).
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Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?
Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors. So you need to be aggressive with your STO phase. Does it mean also that you are dependent with the funds raised if this platform is a go or no go? You have your documents in place already that shows your sincerity for this project but in the worst case scenario, what if you didn't hit your target funds? Any plans afterwards? The expansion of our mining operation is dependent on the funds raised. At a minimum, we will need to purchase our first facility in order to continue growing. If we do not hit our soft cap of $500k by the end of the STO, then we will refund all of the funds back to the investors. The mining operation will go on, but will grow very slowly given today's environment. This would be done by swapping aging ASIC equipment out for FPGA equipment, as they are important to our long term goals. We'll also push for our socioeconomic initiatives, just in a limited capacity.
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Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?
Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors.
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So this is a one-man operation or something?
We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner. Thanks for pointing this out. It has been fixed. Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?
All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO. https://sec.report/Document/0001769250-19-000001Glad to see the situation getting promptly addressed and fixed. Didn't know you'll be issuing the token via Polymath. Definitely got my attention now. Will be keeping any eye on this and taking a second look at all available materials. How this project was planned and by its team now lets say that your team will add one more team members, from this i am thinking how many people will be add or joined on this Pivent ? Typically its not a good thing to start and post it here without a proper team structure that would represent this Pivent. It would be great if it will be posted once everything is set, its only my suggestion/opinion . Thank you for your opinion, as others may be thinking the same. To clarify, there is a difference between operational team and founding team. The founding team consists of one person and will remain one. The operational team consists of two people. Once we hit our soft cap, we will be purchasing our first facility and ordering equipment. At this point, we will be bringing on an additional team member to help with the setup and management of the equipment. As Pivent grows, we will be purchasing more property and facilities to grow the mining operations. In order to support this growing infrastructure, Pivent will add team members as they are needed.
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So this is a one-man operation or something?
We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner. Thanks for pointing this out. It has been fixed. Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?
All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO. https://sec.report/Document/0001769250-19-000001Glad to see the situation getting promptly addressed and fixed. Didn't know you'll be issuing the token via Polymath. Definitely got my attention now. Will be keeping any eye on this and taking a second look at all available materials. Yes, we evaluated other platforms for issuing security tokens and Polymath's platform was the best fit for us.
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Yes, the STO will be available for US residents as well as international investors that are accredited and can pass the KYC/AML checks.
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Your mining center is impressive. The question is this. SEC does not bother you?
We are following the guidelines set by the SEC for our filing to make sure that we stay compliant with our offering. This is why all investors will need to complete and pass KYC, AML, and Accredited Investor checks, regardless of if they are US based or not. It may seem to be a little overkill, but provides the best protection for the company and our investors. Why don't you use newer technologies in the protocol. ERC-20 is already outdated. Now they already use ERC-721 and even newer ones.
The PI security token is a ST-20 token issued through the Polymath platform. The ST-20 token is compliant with the ERC-1400 standard, which the Polymath team helped to develop.
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So this is a one-man operation or something?
We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner. Thanks for pointing this out. It has been fixed. Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?
All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO. https://sec.report/Document/0001769250-19-000001
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What is your advantage over Ice Rock Mining? You plan to mine ZEC instead of bitcoin, if I understand correctly? What about your price of electricity? If you want to be competitive, you need cheap electricity.
What differentiates us from Ice Rock Mining? - We are launching an STO that is registered with the SEC and the PI security token carries with it voting rights as well as profit sharing.
- Our company is focused on finding other applications of cryptocurrency mining to help drive socioeconomic change.
We feel the second point should be the biggest reason an investor should choose Pivent over other mining operations. Giving back and building diverse and inclusive communities will help build a better society. Take our first initiative to take on rising housing costs. Where I live, families are facing tough decisions due to the ever rising price of rent, home prices, and taxes. These families eventually have no choice but to move to more affordable areas. When they move away, they leave behind their community. More importantly, they take their different perspectives. This scenarios similar to this occur across the US daily. What if we could change this to be the exception and not the norm. Well, that is what our first initiative aims to tackle. We will be building mining units that can be installed in to homes and work with non-profits to help identify potential families that could benefit from our program. This will allow us to help offset the rising cost of housing while also allowing us to distribute our mining operations across a larger area. Yes, we plan to mine coins that use the Equihash algorithm. We will also be using FPGAs to target coins with other algorithms such as Tribus and Nexus. Long term we will shift to using more FPGAs than ASICs as we build up our library of bitstreams and the offering of FPGA equipment improves. This will give us the ability to provide computing power to a variety of projects that need help securing their network. Currently, our electric costs are around $0.10/KwH. However, we believe that we can get this cost down to around $0.05/KwH as our operation grows to 3+ MW. This cost can be driven even lower once we are able to start taking advantage of solar power with battery backup (like an array of Tesla Powerwalls).
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Pivent is pleased to announce our PI Security Token Offering is now live. This is an opportunity to earn cryptocurrencies, own equity in the company, and change the world by engaging in socioeconomic initiatives that help drive diversity and inclusion. STO Start Date: May 13, 2019 STO End Date: April 17, 2020 (or sooner) PI Token Price: $0.04 USD/token Investor Check Fee: - US Investors: $75 USD (This will be reimbursed with 1,875 PI Tokens upon passing the investor checks and completing the purchase of at least 1,875 PI Tokens.)
- Non-US Investors: $5 USD (This will be reimbursed with 125 PI Tokens upon passing the investor checks and completing the purchase of at least 125 PI Tokens.)
As this is an investment in a company, there is no soft cap. Any funds raised will be used to start growing our mining operation immediately. Websitehttps://pivent.comIntroduction Video (61 seconds) https://youtu.be/20Ywc0mhGVUPitch Deckhttps://pivent.com/deckEngage with us on:Twitter https://twitter.com/piventincFacebook https://www.facebook.com/piventincTelegram https://t.me/piventincLinkedIn https://www.linkedin.com/company/piventinc![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FFDkPx7A.jpg&t=665&c=x7h9kljRkBshsQ) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FpB1dOB8.jpg&t=665&c=FUxWoS26UPVGTg) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FA8vC3k6.jpg&t=665&c=7sW9ORZUzNNgxQ) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FSfpjdVH.jpg&t=665&c=SQOA-nbh3ZaMcg) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F8jZZP4d.jpg&t=665&c=eU_8PPrvcEFwtA) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FBqmGe9O.jpg&t=665&c=JnmjwKb-YfHCeg) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FtlxCfja.jpg&t=665&c=N0TypjQWbmKqjQ) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FceFUpyB.jpg&t=665&c=KtLLm5N9Pky6xQ) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FbtaYY6d.jpg&t=665&c=D_WARPcKS9Cbtg) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FAHdfBKU.jpg&t=665&c=ZLEuv_fmXoZCVg) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F7ZqOdnB.jpg&t=665&c=yxKlCGweeKk4yg) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fm1LAy1E.jpg&t=665&c=nh78cE8HvmI7Iw) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FiqJhkue.jpg&t=665&c=oa8hRV3JaJjHAw) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fw603dwD.jpg&t=665&c=456r96I_aiCR8A) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F4AZ9O39.jpg&t=665&c=GzWDUL751vTjEw)
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