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It is really strange that the company abandoned all kinds of media where they were previously active and moved to Telegram. It’s really shaddy, and I guess they purposely did that in order to be able to block users and avoid certain questions.
Also, I really doubt they will have the debit card ready in September (per their roadmap).
BTW is their B-Wallet app ready as it was supposed to be ready between July and August?
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MinerOne, after you collected the money from the investors you won't reply questions anymore?
Also, does anyone know where we can track the price of MIO?
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Will the debit card be available to all countries?
Also, I have noticed that at the roadmap on your website, it is stated that the debit card will be available in September this year, while on your partner’s website (Tokia), it is stated that the card will be available in February 2019. How is it possible that you will have the card before your partner who is the initiator of the card project?
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If the soft cap isnt collected, will the company be closed?
Soft cap already passed |
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Will the Debit Card be available to residents outside of the EU?
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Have you already agreed with electricity suppliers on the wholesale cost of electricity?
EUR 0.065 kw/h Please check their homepage for basic info. |
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Oh I just received the following email. This is what I am talking about all the time. Why in the world the company would decide to fundraise in crypto when buying the equipment, paying salaries, lease etc. in fiat.
Dear Miner One Token Holders,
You have seen what is happening in the markets. When we started our Crowdsale, ETH was at US $920. As per the terms of our smart contract, your contributions were locked and inaccessible to us until the Small Cap (4.7 million MIO) was reached. It was right around at that time that ETH began its slide. As you know, it is currently down to below US $400.
We made a commitment to you in our roadmap to put in the first order for mining equipment at this time. However, given the market situation and the widespread view that ETH will rebound from these lows, our feeling is that it may make sense to wait a bit and give that rebound some time to occur.
I want to stress that we do not think waiting a few weeks to order the equipment will throw Miner One off schedule. We are currently preparing the facility in Luleå, with construction starting by next week.
I am also still confident that Miner One, being the World’s Most Efficient Mining Operation, will deliver profits, given the underlying value that cryptocurrency and blockchain technology creates. That isn’t going away and there will continue to be a need for data centers that support cryptocurrency networks.
But I do not want to take the decision without consulting you first. So please give me your opinion by filling out the short survey below.
Thank you for your trust and for being with us. We will continue to do our best to be good stewards of the funds you have entrusted to Miner One.
Sincerely Yours,
Pranas Slusnys
CEO
Btw the questionnaire was about the purchase of equipment, whether to buy all the equipment at this price of ETH, buy small amount or wait untill the price rebound.
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Why can't the company say now how much equipment will it buy for the first mining center?
The problem with MinerOne is that they projected the target cap in ETH, not in fiat (such a silly decision), when the equipment will be purchased in fiat. Not the smartest thing they could have done. No one knows how much money they will raise at the end of the campaign, therefore how much equipment will MinerOne be able to buy. |
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Why can't the company say now how much equipment will it buy for the first mining center?
First of all, it will depend on the amount of money collected on the ICO. Secondly, it is difficult to predict it now, because the cost of mining equipment is constantly rising due to high demand. But even here the company has an advantage in comparison with ordinary consumers. The cost of the equipment dropped rapidly recently. To buy an Antminer S9 now is cheaper than ever. |
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What about refunding these people, deleting all MIOs of their accounts, and then they can decide to invest again for the conditions of today?
I don’t think this is possible as I believe a large amounts of money has been already spent. |
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As an early investor, I can understand pinionless and i'm irritated too. It's even worse if you invested with FIAT... Nowadays FIAT is still more reliable than crypto and therefore helps the whole project (more planning reliability/stability due to less volatility). But the counter draw is, FIAT investors get treated in a way, which makes their investment worth less than an investment with crypto over the last weeks. If it would just have been some per cent, i think almost nobody would complain...but up to about 60 per cent is a punch in the face of every early FIAT investor  . It would be a fair and reasonable reaction of the miner one team, to acknowledge this fact and balance it in an appropiate way within a goodwill action  Just a suggestion: What about refunding these people, deleting all MIOs of their accounts, and then they can decide to invest again for the conditions of today? The early bird gets the worm, the early worm gets eaten. - MinerOne’s favorite quote  |
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Is the project still far from reaching the hard cap?
Yes, it's still decent. Hard cap is set at around 200 thousand MIO. ETH, not MIO |
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How long will a 20% bonus still be valid?
2 days |
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Actually, you did.
Miner One is not a cloud mining project. You do not buy hashing power with MIO tokens. Every MIO token represents a share in Miner One's monthly net output.
Lets see: Person A (6 weeks ago) Investment 1450EUR at 0.52EUR/MIO = 2788 MIO Person B (now) Investment 1450EUR at 0.29EUR/MIO = 5000 MIO Total MIO 7788 Person A will get 36% of net output Person B will get 64% of net output SCAMBIIIITTTCCCOOOONEEECTTT!Do you realy think this is OK? Dear Pinionless, as is obvious to anyone with even a basic understanding of markets, Miner One cannot control cryptocurrency exchange rates, including the EUR:ETH exchange rate. Due to the recent drop in ETH prices, it is now a more favourable time to buy MIO for EUR than it was before because the price of MIO is currently tied to ETH. We challenge you to produce these people who you claim were "banned" from our Telegram Chat for "complaining" about EUR:ETH exchange rates (unless, like you, they were violating our chat guidelines, which require basic courtesy and civility, and prohibit spamming and advertisements for other products or services like the ones you mention in your other post). MinerOne can’t control the exchange rates, but can control how the MIO token will be tied and you decided to tied it with a crypto = gambling. That’s why in my earlier posts I asked why the targeted cap is calculated in ETH, not fiat, as you will pay equipment, lease etc. in fiat. Therefore, the outcome of the fundraising is pretty unpredictable as the price of ETH. BTW I also bought MIO tokens some time ago and could get 20% more if purchased today. |
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What will happen to the tokens that wont be sold on the ICO?
From FAQ: What happens to unsold tokens? Will you burn them? Yes. Tokens not distributed during the Crowdsale will be burned by smart contract. |
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Are there any extra bonuses for bigger investments?
I dont think so. Nothing is said about it on the website or in white paper. From their FAQ: I want to invest a large amount. Any additional incentives? If you intend to invest 10 ETH or more, let’s talk. Please contact Co-Founder Jonas Udris at jonas@minerone.io |
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Guys, please at least check their home page (minerone.io) before asking a question...
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Will the investors receive information on how the funds will be spend, for ex. what equipment was purchased, electricity bills etc.?
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What is the hard-cap of the project?
The hard-cap is set at 200 000 MIO. 200.000 ETH, not MIO. |
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If you aren’t aimed at sale of bitcoins collected, how will you make profit? Due to what will you pay dividends to the investors?
Yes, it is a risky venture and we clearly state that from the very beginning. Majors risks are bitcoin price and difficulty ratio. This includes the buying power of the ICO, as well as equipment process, installation costs, etc. Yes, there is a chance that the data center will not be as profitable as we expect. Say, today’s rate of ETH is just half of what it was two months ago. This reduces the number of miners we can actually buy at the end of ICO if the price remains the same. The entire project may even fail for usual business or regulatory reasons. If it will be unprofitable to mine bitcoin we will use 23% of output assigned for upgrades to switch to another cryptocurrency. And according to our plans, we are not going to interrupt mining process and as a result payouts. So, you can see, in that case, that we are following the idea of the profitable mining and would try to find the solution in any case. There are certainly risks and they should not be underestimated. Future prices and exchange rates of cryptocurrencies are impossible to predict, as is mining difficulty, the evolution of legal regulations, future price of electricity, hardware, and other factors. We will do everything we can to mitigate these risks, but there is no way anyone can eliminate them. That is why our general advice is not to risk more than you can afford to lose. On the other hand, if we succeed, the gains could be double- or even triple-digit, it is may be announced due to our calculations. That’s why I asked: Why are you fundraising in ETH, not in fiat? As you are saying yourself, with the current price of ETH, you can buy half of the planned miners...and putting your investors in danger. Moreover, I believe you will be paying for the equipment, maintenance, staff, rent etc in fiat. Why in the world would the company decide to fundraise in ETH? Also, how is it possible that 4-5% of output will cover all operational costs, including electricity, when around 25% will go towards covering only the electricity, based on the price per kw/h stated on your website (EUR 0.065) and current mining profitability? First of all, we are not fundraising only in ETH. We are also accepting fiat (EUR), as well as LTC and BTC. Secondly, the 4-5% estimated operating costs do not include electricity, as stated in the White Paper. Please read it. It's important. Third, let's not sow panic about mining profitability. First of all, Miner One will be buying top-of-the-line miners and will mine with an efficiency that will put other miners to shame. The current difficulty:BTC price ratio will have the effect of pushing out inefficient miners, leaving more room at the top for Miner One and others who know how to do it right. Lastly, we do not expect the current difficulty:BTC price ratio to stay as it is over the long haul. Remember: Miner One is not a 1- or 2-month project, and we are not amateurs. Our team knows what it is doing. So if anyone has a shot at being successful, it's Miner One. That said, it's important to keep the risks in mind. As we've said many times, it's a new and unsettled field with risks as well as great potential rewards. People who are looking for a sure bet with zero risk should look elsewhere. Thank you for your reply! Your target cap is calculated in ETH, so the price of ETH influences the final outcome of the fundraising. You stated yourself that at the current price of ETH, you will be able to buy less equipment, so I think it makes more sense for you guys to calculate the target cap in fiat. BTW I did read the white paper (I got the 4-5% information from there), FAQ etc. https://prnt.sc/itmygdIf you check the link, you can see the 4-5% thing. So the electricity is not calculated in those 4-5%? Also, at another page it says the operational costs are 18% ( https://prnt.sc/itn0co), I found the information confusing, so could you please clarify the total operation cost including electricity (at the current price of BTC)? |
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