🔥 [ANN] 🔥 [ICO] 🚀 Miner One - Cutting-Edge Bitcoin Mining. 🔵 🔵 Crowdfunded.

[minerone.io]

Hi guys!  

I am very interested in your ICO and have some questions answers to which are vital for my decision to invest.

I have read your Whitepaper very carefully but unfortunately couldn't find this information  

1) Tokens give share in profits. So I need to know in details all info on the costs.

1.1) What is your estimation of other costs per KW/h apart from electricity (like salary, Internet, repairs, rent)?
1.2) What taxes (e.g. income tax) and at what rates will be paid?
1.3) How can we be sure that you will not knowingly increase costs (salary for example) to make profits zero and legally not pay anything to token holders?

2) You plan to build data center in Lulea, Sweden

2.1) What is legal status of cryptocurrency mining in Sweden? Is it allowed? What taxes are applicable?
2.2) Which company produces electricity in Lulea? Do you have an agreement with electricity producer for electricity supply? What power is reserved for you? Can you please provide contract or an agreement of intent?
2.3) You state that the price of electricity is EUR 0.065 per KW/h. Please provide support for this price. Is it stated in the contract?
2.4) Where exactly in Lulea do you plan to build the data center? Do you have permission from the municipality to build data center in the selected area?
2.5) What happens if you raise all $200 mln on ICO? Will there be sufficient electricity power and area to build such huge data center?

3) You plan to buy Ebang Ebit Miner E10

3.1) Do you have contract or an agreement of intent with Ebang? In case of success you will have to buy great amount of ASICs. How can you be sure that you will be able to buy ASICs in large amount?
3.2) You state that you will buy Ebang Ebit Miner E10 at lower than retail price and with no shipping and customs costs. Can you please provide support for this statements?

4) You plan to list tokens on exchange mid April

4.1) Do you have an agreement with any exchange?
4.2) Your token is defenetly a security token. How are you going to overcome this fact in order to be listed on exchange?

Glad to hear of your interest in investing! We see you have a lot of great questions and would like to address them on our Telegram channel. Please join the conversation: https://t.me/theminerone

Please answer here

The purpose of this chat is asking questions and getting answers, right?

If I join Telegram chat of every ICO that is currently on the run my phone will choke on messages  

Since you say you are interested in making an investment, we have advisors online who can address your questions very specifically. This forum is more suitable for general discussions and compact responses. If you would like an advisor to contact you directly, please write to vip@minerone.io.

- Invite your advisors and make them answer here. Isn't it more convenient for you to answer 1 time instead of chatting with thousands of people?
- Speaking about compact responses - I went through this chat and there are great number of very large messages from you

With all respect what I see is that you are going away from the answer or simply don't have them  
Is is you who should be interested in providing detailed answers to potential investors.
You want to raise $200 mln   but currently behave in an unseemly manner  

Investors who are seriously interested and want to have a constructive conversation are talking to us on Telegram (which is a public channel that anyone can review and join at any time) or, if they prefer to speak directly to an advisor, they are contacting us at vip@minerone.io. This format is not conducive to extensive conversations like the one CryptoSuperPanda appears to be seeking. Of course, you can also check our FAQs for answers to many of these questions.

https://minerone.io/faq/

Here are answers, in brief:

1) Tokens give share in profits. So I need to know in details all info on the costs.

1.1) What is your estimation of other costs per KW/h apart from electricity (like salary, Internet, repairs, rent)?
Economies of scale mean the answer to this question depends on the final size of the facility, which, in turn, depends on outcome of the Crowdsale. As we have said in the White Paper, we anticipate not more than 4-5% of output.

1.2) What taxes (e.g. income tax) and at what rates will be paid?
We have Grant Thornton advising us on this question to ensure full compliance with Swedish and UAE tax laws. For an overview of Swedish taxes, please refer to this document: https://www.business-sweden.se/contentassets/ed79d90e6aa84f0cbd4ac281ac5aa460/7.-corporate-taxes-in-sweden.pdf .   Profit and income tax in Ras al-Khaimah is 0%.

1.3) How can we be sure that you will not knowingly increase costs (salary for example) to make profits zero and legally not pay anything to token holders?
We have made a commitment to MIO Token Holders to do our best to operate profitably. We are interested, above all, in the success of this project and in fulfilling our commitments.

2) You plan to build data center in Lulea, Sweden

2.1) What is legal status of cryptocurrency mining in Sweden? Is it allowed? What taxes are applicable?
Yes, it is allowed. A mining centre is one form of a data centre. Data centre income is taxed just like the income of any other company.

2.2) Which company produces electricity in Lulea? Do you have an agreement with electricity producer for electricity supply? What power is reserved for you? Can you please provide contract or an agreement of intent?
We have arranged with Luleå Energi for 15MW, for starters. Please see this article for all of the details: https://medium.com/@minerone.io/miner-one-moves-forward-in-sweden-d94b0c9bf2ba

2.3) You state that the price of electricity is EUR 0.065 per KW/h. Please provide support for this price. Is it stated in the contract?
This is public information.

2.4) Where exactly in Lulea do you plan to build the data center? Do you have permission from the municipality to build data center in the selected area?
The lease for the building has already been signed. The municipality and regional development agency "Node Pole" are the ones who invited us, so they are supporting us fully. Please refer to the above article for additional info.

2.5) What happens if you raise all $200 mln on ICO? Will there be sufficient electricity power and area to build such huge data center?
Yes, if not at the current location, then there are other locations on our shortlist.


3) You plan to buy Ebang Ebit Miner E10
We have not made that decision yet.

3.1) Do you have contract or an agreement of intent with Ebang? In case of success you will have to buy great amount of ASICs. How can you be sure that you will be able to buy ASICs in large amount?
We visited Ebang as well as Canaan and Bitmain. All three assured us the miners are available that we need in the amounts we need.

3.2) You state that you will buy Ebang Ebit Miner E10 at lower than retail price and with no shipping and customs costs. Can you please provide support for this statements?
Offers are already on the table. Once we place the first order, we will be able to provide documentation.

4) You plan to list tokens on exchange mid April

4.1) Do you have an agreement with any exchange?
MIO Tokens are ERC20-compatible, which means they can be traded peer-to-peer. We do not currently have an agreement with any exchanges. The MIO Token is not intended for speculation.

4.2) Your token is defenetly a security token. How are you going to overcome this fact in order to be listed on exchange?
Envion is a very similar project and its tokens have been listed by hitBTC

[minerone.io]

You say that your company will be the foremost in the field of mining of crypto currency. And how will you differ from other mining centers?

Which "other mining centres" do you mean, exactly? We address the differences between Miner One and a number of them in our FAQ section:

https://minerone.io/faq/

[pinionless]

Thank you, Pokachou. Please also remember that healthy discounts were offered to early investors, so the MIO Tokens obtained at the start of the crowdsale were significantly discounted. Complaining about exchange rate fluctuations that no one can control is not very productive. We tied the price of MIO to ETH because we are using smart contracts to manage MIO Tokens. As for the funds raised, not all of them are in ETH.

That is a lie, MIO tokens at the start where at around 0.53EUR and today they are at 0.27EUR. That is not a discount.

No one is complaining about exchange rates, and no mater how many times you will try to change the subject
it will not change the fact that early investors got SCAMMED

For a long time you were only able to buy stuff on bitmain with cryptos (BCH mainly).

Yes, but they adjust the price based on exchange rate, so it makes no difference if you pay in crypto or FIAT.

[minerone.io]

Thank you, Pokachou. Please also remember that healthy discounts were offered to early investors, so the MIO Tokens obtained at the start of the crowdsale were significantly discounted. Complaining about exchange rate fluctuations that no one can control is not very productive. We tied the price of MIO to ETH because we are using smart contracts to manage MIO Tokens. As for the funds raised, not all of them are in ETH.

That is a lie, MIO tokens at the start where at around 0.53EUR and today they are at 0.27EUR. That is not a discount.

No one is complaining about exchange rates, and no mater how many times you will try to change the subject
it will not change the fact that early investors got SCAMMED

For a long time you were only able to buy stuff on bitmain with cryptos (BCH mainly).

Yes, but they adjust the price based on exchange rate, so it makes no difference if you pay in crypto or FIAT.

That is not an argument that makes any sense, Pinionless. All we can do is repeat that we cannot control cryptocurrency exchange rates, and we have detailed and emphasised the risks, including this one, time and time again. MIO was never tied to the price of EUR, so your comparison is not relevant and certainly not evidence of any malfeasance on our part. If you are looking for an investment that offers a high degree of certainty and predictability, you should not be investing in anything cryptocurrency-related.

[minerone.io]

What actions will your team take in the course of the company's activities to ensure the maximum efficiency from the production of crypto currency?

First of all, efficient installation and on-site maintenance 24/7 to minimise any downtime. Secondly, one-quarter of output dedicated to constant equipment upgrades to stay on the technological cutting-edge of mining. Third, ultra-low-cost electricity and low cooling costs due to low outdoor temperatures in Northern Sweden.

[crick3698]

Is 20% bonus still available?

[pinionless]

That is not an argument that makes any sense, Pinionless. All we can do is repeat that we cannot control cryptocurrency exchange rates, and we have detailed and emphasised the risks, including this one, time and time again. MIO was never tied to the price of EUR, so your comparison is not relevant and certainly not evidence of any malfeasance on our part. If you are looking for an investment that offers a high degree of certainty and predictability, you should not be investing in anything cryptocurrency-related.

Yes, you can not control the price of ETH
But you control the price of MIO
And the price of MIO dropped by almost half due to your incompetence.
You do realize that due to this your early investors will not get 100% ROI in first year of mining? As their dividends will be half of what new investors will get.

I advice everyone reading this to invest in IceRockMining or Ambit Mining.
They protect early investors.

[shokhibul]

Is 20% bonus still available?

Yes, it is. But it’s gonna be over soon. You  should hurry up!

[minerone.io]

That is not an argument that makes any sense, Pinionless. All we can do is repeat that we cannot control cryptocurrency exchange rates, and we have detailed and emphasised the risks, including this one, time and time again. MIO was never tied to the price of EUR, so your comparison is not relevant and certainly not evidence of any malfeasance on our part. If you are looking for an investment that offers a high degree of certainty and predictability, you should not be investing in anything cryptocurrency-related.

Yes, you can not control the price of ETH
But you control the price of MIO
And the price of MIO dropped by almost half due to your incompetence.
You do realize that due to this your early investors will not get 100% ROI in first year of mining? As their dividends will be half of what new investors will get.

Pinionless, it seems pretty clear you are here to promote other mining projects, like you were doing on our Telegram feed. Everyone is free to draw their own conclusions about your remarks.

[minerone.io]

Is 20% bonus still available?

Yes, the 20% discount is valid until mid-day tomorrow (Saturday).

[pinionless]

You do realize its not a scam in any way? Its unfortunate indeed, but you didn't loose your money. You got less than you could've had but its the same thing as day trading. Do you complain on exchanges as well when you trade your crypto to fiat and then the price changes and you could've bought cheaper/sold more expensive?

Besides Im pretty sure you wouldn't be complaining if ETH price did rise instead of going down because then you'd had had more tokens for the same price in fiat as an early investor.
I understand what you are feeling since I did invest early as well. But I take this as an opportunity to reinvest to get even more tokens now.
Its crypto world so no on can guarantee that you will be winning all the time.

Its written on their site/WP that they are indexed on ETH, and you made the choice to invest knowingly.

Imagine you send them 1450$ and they buy one S9 miner.
8 weeks later someone else sends them 1450$ and they buy another S9 miner.
MinerOne has now two S9 miners at this point.

Due to the way they distributed tokens you will only get 36% of profits, the other person 64%; meaning someone else is profiting from the ASIC you payed for.
This is not OK.

I am not here to promote other mining operations,
I just want to warn anyone interested in MinerOne and inform them about how they treated early investors.

I will also post updates on any dividends they pay out to show how early investors got screwed.
(According to their website I am looking at 141% ROI first year (without the bonuses))
(I predict that it will take 1,5+ years for early investor to get ROI from dividends.)

[dort]

I dont agree with the fact that mining hardware is the main part of the business. The crucial pint is the place with a cheap power supply.  Have u found one yet?

[minerone.io]

You do realize its not a scam in any way? Its unfortunate indeed, but you didn't loose your money. You got less than you could've had but its the same thing as day trading. Do you complain on exchanges as well when you trade your crypto to fiat and then the price changes and you could've bought cheaper/sold more expensive?

Besides Im pretty sure you wouldn't be complaining if ETH price did rise instead of going down because then you'd had had more tokens for the same price in fiat as an early investor.
I understand what you are feeling since I did invest early as well. But I take this as an opportunity to reinvest to get even more tokens now.
Its crypto world so no on can guarantee that you will be winning all the time.

Its written on their site/WP that they are indexed on ETH, and you made the choice to invest knowingly.

Imagine you send them 1450$ and they buy one S9 miner.
8 weeks later some else sends them 1450$ and they buy another S9 miner.
MinerOne has now two S9 miners at this point.

Due to the way they distributed tokens you will only get 36% of profits, the other person 64%; meaning someone else is profiting from the ASIC you payed for.
This is not OK.

I am not here to promote other mining operations,
I just want to warn anyone interested in MinerOne and inform them about how they treated early investors.

I will also post updates on any dividends they pay out to show how early investors got screwed.
(According to their website I am looking at 141% ROI first year (without the bonuses))
(I predict that it will take 1,5+ years for early investor to get ROI from dividends.)

Nobody is actually sending Miner One USD, as in your example. And your example assumes miner prices are constant, which they are not - they are now falling. Anyhow, there is no practicable way for us to guarantee that exchange rate fluctuations won't affect the value of your investment, and we made this absolutely clear in the White Paper. Regrettable to see you continuing this unreasonable and groundless line of argument. Please also remember that estimates of ROI are not guarantees or promises, as we've made clear repeatedly, as well. More generally: cryptocurrency-related investments are not really suitable for people with low risk tolerance who are bothered by uncertainty and change.

[minerone.io]

I dont agree with the fact that mining hardware is the main part of the business. The crucial pint is the place with a cheap power supply.  Have u found one yet?

Absolutely. We have secured access to at least 15MW of Europe's cheapest electricity (at 6.5 eurocents / kWh). And it is 100% green, to boot!

[pinionless]

Nobody is actually sending Miner One USD, as in your example.

OK, lets try again

Imagine you send them 1160EUR and they buy one S9 miner.
8 weeks later someone else sends them 1160EUR and they buy another S9 miner.
MinerOne has now two S9 miners at this point.

Due to the way they distributed tokens you will only get 36% of profits, the other person 64%; meaning someone else is profiting from the ASIC you payed for.
This is not OK.

[rocknet]

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=sharing

If 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-9925-859affea46dc

[slavonicpl]

The choice of the hardware is the most important part I believe. Have u chosen it already?

[Veecker]

How are u going to provide constant electricity supply? Are u going to have a backup power source?

[minerone.io]

How are u going to provide constant electricity supply? Are u going to have a backup power source?

Luleå Energi guarantees stable supply. Now, you may ask - how certain is that? Well, Facebook, which has its largest European data centre just up the road, built its first buildings with backup generators, but found that supply here is so stable that they don't need them and will no longer be building them in their new buildings, according to the representative of the municipality who showed us around.

[bars_kz]

What is the average temperature in the area where u r planning to built a mining center in? It’s important for natural equipment cooling.