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[ganeshramk]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Me too noticed it. Instruction clearly says first buy POLY in binance and then send it to the erc20 wallet. Then you have to use metamask to buy the minedblock tokens. It means atleast I understood like Minedblock tokens can only be bought with POLY tokens.

[ctrades31]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Me too noticed it. Instruction clearly says first buy POLY in binance and then send it to the erc20 wallet. Then you have to use metamask to buy the minedblock tokens. It means atleast I understood like Minedblock tokens can only be bought with POLY tokens.

But why this procedure we have to do it? I mean POLY have is some kind of business partnership with mindblock or any relationship? I can see this is first project that they kept this kind of conditions.

[ethtrader16]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Me too noticed it. Instruction clearly says first buy POLY in binance and then send it to the erc20 wallet. Then you have to use metamask to buy the minedblock tokens. It means atleast I understood like Minedblock tokens can only be bought with POLY tokens.

This is mandatory process if we are invest in their ICO? Means we cannot go through directly by using BTC, ETH or any FIAT currencies?

[MinedBlock]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Me too noticed it. Instruction clearly says first buy POLY in binance and then send it to the erc20 wallet. Then you have to use metamask to buy the minedblock tokens. It means atleast I understood like Minedblock tokens can only be bought with POLY tokens.

This is mandatory process if we are invest in their ICO? Means we cannot go through directly by using BTC, ETH or any FIAT currencies?

The smart contract has been put in place to accept on POLY for the pre-sale for a couple of reasons:
1. As the first widely available STO running on Polymath we thought we would promote the alternative use of the POLY token to invest in STOs running on their platform.
2. To offer a discount to people who use poly. Our pre-sale price is $0.15 per token and currently on a 1:1 ratio of POLY to MBTX at a price of around $0.09 so a little over 33% discount.

If anyone would like to invest and feels really against using POLY we are able to mint tokens manually and can arrange a payment outside of the smart contract but the discount won’t be applied.

Also just to clarify, there is no partnership between Polymath and MinedBlock we are simply supporting their project through the launch of our own

[Sozialtourist]

What exactly is the softcap for Minedblock? And what would happen if the softcap isn't reached? Will the project then be cancelled and investors refunded?

[ning_aric]

There's been a few questions on here about paying $2 for KYC which, hopefully, we've explained but we have a little promotional offer in the final hours before the pre-sale starts:


As there are less than 24 hours until out pre-sale opens we've decided that the next 500 people to sign up and email tokensales@minedblock.io once registered will get their KYC check for free (excludes US/Canada Accredited Investor check)

To get involved:
1. Head over to our website to sign up www.minedblock.io
2. Complete KYC ($2 charge which will be reimbursed with our tokens at a discount)
3. Once whitelisted and the sale opens send POLY to the smart contract and receive our tokens straight away!

That’s a great idea. I just signed up. I hope to be one of the lucky ones. $2 is a low bonus amount but I’ll take what I got. Success in your presale.

[Pricebrianer]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Me too noticed it. Instruction clearly says first buy POLY in binance and then send it to the erc20 wallet. Then you have to use metamask to buy the minedblock tokens. It means atleast I understood like Minedblock tokens can only be bought with POLY tokens.

But why this procedure we have to do it? I mean POLY have is some kind of business partnership with mindblock or any relationship? I can see this is first project that they kept this kind of conditions.

Right. There are no partnerships, not that I know of. This is the first STO I could find on bitcointalk, at least the one with more investors showing interest and they decide to promote POLY. Shows they believe in the project. Btw I think polymath is a great project and a good option to Ethereum.

[Getadaaa]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Just the poly tokens. I think they are trying to promote Polymath. It’s a great project which is undervalued, poly tokens is already responding with a little pump. I hope they come up with an option for Eth, USDT and BTC.

[ning_aric]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Just the poly tokens. I think they are trying to promote Polymath. It’s a great project which is undervalued, poly tokens is already responding with a little pump. I hope they come up with an option for Eth, USDT and BTC.

That’s going to be great. Although, there won’t be some benefits, lower token price or the bonus. Poly is listed on Binance, a stable exchange. Also, the team has put a tag on the rate of poly token. So you buy at a constant rate not affect by the market value of poly.

[Nathan01]

So their token won't be an ERC-20 one but an ERC-1404? Is this correct? I never heard of this before but it looks like this is the standard for security tokens? Can someone list the main differences between both ERC-20 and ERC-1404?

Our token will actually be an ST20 token issued using Polymath's network. Polymath have had a big input on how the ERC-1400 Security Token standards have been defined and the ST20 token will be upgraded to include any new standard features as and when they become the standard. It all runs on the Ethereum network with standard wallets that can support ERC-20 tokens

I heard of Polymath. It's good that you using such a security token issuing platform. But am I correct that the ST20 tokens are still tokens on the Ethereum network or are they on a separate blockchain?

Yes the tokens are still on the Ethereum blockchain, Polymath were of the view that there is no need to re-invent the wheel when there is a perfectly capable platform that they can use. They plan, I believe, to add other platforms in the future

The difference is in how the token works, security laws say we need to know who holds ourntokens so the tokens will only be transferable between registered wallets for example. The ST20 builds all of these features into the token contract

In the case that there is the clog in the wheels of the Ethereum VM or blockchain as a case study what's your plan if such a problem arises? what blockchain are you guys looking at switching to in the future??

[Sozialtourist]

In the case that there is the clog in the wheels of the Ethereum VM or blockchain as a case study what's your plan if such a problem arises? what blockchain are you guys looking at switching to in the future??

Why do you think they need to switch to another blockchain? Sure, Ethereum had problems when Cryptokitties emerged but right now it's running smooth and easy so I don't see a reason to swap to another blockchain (create your own one). And the development at Ethereum is constantly ongoing to make it more scalable.

[ning_aric]

What drives the valuation of Minedblock tokens? Is it a utility token or do we earn a passive income simply by holding these tokens? These answers are going to determine the success of the token sale.

[ethtrader16]

There's been a few questions on here about paying $2 for KYC which, hopefully, we've explained but we have a little promotional offer in the final hours before the pre-sale starts:


As there are less than 24 hours until out pre-sale opens we've decided that the next 500 people to sign up and email tokensales@minedblock.io once registered will get their KYC check for free (excludes US/Canada Accredited Investor check)

To get involved:
1. Head over to our website to sign up www.minedblock.io
2. Complete KYC ($2 charge which will be reimbursed with our tokens at a discount)
3. Once whitelisted and the sale opens send POLY to the smart contract and receive our tokens straight away!

That’s a great idea. I just signed up. I hope to be one of the lucky ones. $2 is a low bonus amount but I’ll take what I got. Success in your presale.

I didn't understand this deal. I registered it and whenever I am trying to verify account it's showing that we have to pay 2$ for it. It's almost nothing but why we have to pay this much amount do our verify account?

[Zurcermozz]

Is the team or the project will adopt other crypto especially BTC and ETH as soon as possible? It is a low price right now.

[nxnqauff]

Is the team or the project will adopt other crypto especially BTC and ETH as soon as possible? It is a low price right now.

I think team has gone for POLY with some specific reason. Anybody know the rationale for this? I would love to learn that.

[Getadaaa]

Is the team or the project will adopt other crypto especially BTC and ETH as soon as possible? It is a low price right now.

It’s a good opportunity for investors to get on it now with poly trading at a low price now. Minedblock team already tag a dollar valuations to Pooy tokens, the volatility of the market would put investors at loss.

[ctrades31]

Is the team or the project will adopt other crypto especially BTC and ETH as soon as possible? It is a low price right now.

I think team has gone for POLY with some specific reason. Anybody know the rationale for this? I would love to learn that.

Seems to be we don't have any information about it but I am also interested to know that why they have kept this option to participate in ICO.

[Sozialtourist]

Did somebody notice that Minedblocks tokens can be bought only using POLY? Why is it like this? Is it possible to buy using ETH or BTC in the first instance?

Me too noticed it. Instruction clearly says first buy POLY in binance and then send it to the erc20 wallet. Then you have to use metamask to buy the minedblock tokens. It means atleast I understood like Minedblock tokens can only be bought with POLY tokens.

But why this procedure we have to do it? I mean POLY have is some kind of business partnership with mindblock or any relationship? I can see this is first project that they kept this kind of conditions.

Right. There are no partnerships, not that I know of. This is the first STO I could find on bitcointalk, at least the one with more investors showing interest and they decide to promote POLY. Shows they believe in the project. Btw I think polymath is a great project and a good option to Ethereum.

It's not directly a partnership. Polymath is a platform for security token offerings. There are other platforms like Swarm fund or Dusk network for example. I am not sure what the perks are of each of these platforms but MinedBlock simply decided to use POLY.

[MinedBlock]

So their token won't be an ERC-20 one but an ERC-1404? Is this correct? I never heard of this before but it looks like this is the standard for security tokens? Can someone list the main differences between both ERC-20 and ERC-1404?

Our token will actually be an ST20 token issued using Polymath's network. Polymath have had a big input on how the ERC-1400 Security Token standards have been defined and the ST20 token will be upgraded to include any new standard features as and when they become the standard. It all runs on the Ethereum network with standard wallets that can support ERC-20 tokens

I heard of Polymath. It's good that you using such a security token issuing platform. But am I correct that the ST20 tokens are still tokens on the Ethereum network or are they on a separate blockchain?

Yes the tokens are still on the Ethereum blockchain, Polymath were of the view that there is no need to re-invent the wheel when there is a perfectly capable platform that they can use. They plan, I believe, to add other platforms in the future

The difference is in how the token works, security laws say we need to know who holds ourntokens so the tokens will only be transferable between registered wallets for example. The ST20 builds all of these features into the token contract

In the case that there is the clog in the wheels of the Ethereum VM or blockchain as a case study what's your plan if such a problem arises? what blockchain are you guys looking at switching to in the future??

If the ETH network ever became unusable we would put the vote out to our token holders. Part of the share rights that the token entitles holders to is to vote in the direction of the service. We would evaluate the available options and allow the token holders to decide which one we went with. I don’t think this will become a requirement but if it does we’ll be ready 

[MinedBlock]

There's been a few questions on here about paying $2 for KYC which, hopefully, we've explained but we have a little promotional offer in the final hours before the pre-sale starts:


As there are less than 24 hours until out pre-sale opens we've decided that the next 500 people to sign up and email tokensales@minedblock.io once registered will get their KYC check for free (excludes US/Canada Accredited Investor check)

To get involved:
1. Head over to our website to sign up www.minedblock.io
2. Complete KYC ($2 charge which will be reimbursed with our tokens at a discount)
3. Once whitelisted and the sale opens send POLY to the smart contract and receive our tokens straight away!

That’s a great idea. I just signed up. I hope to be one of the lucky ones. $2 is a low bonus amount but I’ll take what I got. Success in your presale.

I didn't understand this deal. I registered it and whenever I am trying to verify account it's showing that we have to pay 2$ for it. It's almost nothing but why we have to pay this much amount do our verify account?

We decided to pass the KYC cost, at our cost price, onto investors. A few have questioned this but it is a way for us to filter out any time wasters. Imagine if we got 10,000 people sign up and no one invested in the token, we’d have a $20,000 bill for nothing.

We are reimbursing the $2 with discounted tokens (50% cheaper) so all you’d really be doing is buying your first few MBTX at a bigger discount