How does the project participate in BTC , ETH coal mining, ?
Altcoin mining you mean?
By the way, what is the basis of the price of 1 CIC = 1.1-1.2$? That's already high for a newcomer. And if you are investing in cloud mining, I'm not sure if you will get a lot of customers as they are now learning that cloud mining services are really not profitable in the long run. And there's no guarantee that even ROI will get back to them. Even if you are legit one, sometimes it's too hard to get your money back from cloud mining business. Just my thoughts...
There will be NO cloud mining like you reply.
We have 2 partners we are negotiating with.
For our bitcoin mining we are negotiating with BITFURY to purchase our own blockbox mining containers with 7.5PH mining power. So we don't do our mining through cloud mining. We will have our own hardware. The only thing that bit fury asks is
a monthly 50.000$ fee per purchased box for electricity expenses, hosting and monitoring by their engineers.
For our eth and alt coin mining we are negotiating with a south african partner. Same as with bitfury. We will purchase our own hardware, but we pay a monthly fee for electricity expenses, hosting and monitoring.
At this moment and at this value of BTC 1 blockbox can mine 40-45BTC a month what is around 450 and 500.000$
For ethereum and alt coin mining we will work with the South African company. There rigs let you change which coin to mine with 1 push on the button. So you can switch at any time to the most profitable coin to mine at that moment.
If our ICO gets sold out we are intending to purchase 3 bitfury blockboxes that will produce a total of 120-130BTC monthly.
With the monthly profits we make we will start our ETH and alt coin mining. So our alt coin rigs will be purchased with mined profits.
And this we will keep doing. Every month upto 75% of the mining profits will be used to expand our mining activities and 25% we keep as a passive return for our backers.
So there is ABSOLUTELY NO CLOUDMINING involved in our activities.
Maybe in future we will offer our own cloud mining service build on our CIC platform, but that are future plans.
About transparency for the mining. All rigs or blockboxes purchased, agreements with companies will be published in all our social media so that everyone can verify our activities and claims
About 1.1 /1.2 price. You say its quit high. But this price will be fully backed from the minute we start our operations.
Like in our white paper. Only 10% of our raised funds goes to support our affiliate system and the other 90% will go straight into the crypto market, trading and mining. So at the time we commence this coin will actually have this value.
And no matter what the exchange price does on all exchanges. Even if people dump the coin what isn't very clever thing to do and price even drops to 0 on the exchange our coin will ALWAYS keeps his real value and safe haven for investors.
That why we can also offer a buy back option to everyone that joins our CIT project.
First 6 months we want to build a strong basis and together with our members we are going to support the coin as much as possible to push it up. After 6 months we open our buy back option for those that rather want to take their money instead of seeing this project as a long term involvement
