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[Pricebrianer]

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.

Minedblock tokens being a security token needs polymath platform which is designed to support security tokens in a secure and complaint way, this makes polymath a better choice to Ethereum.

[gee777]

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

I really like this move from them. 2 dollars isn't really a much amount to pay for kyc and for the fact that they are going to reimburse users in mindblock tokens.

[Nathan01]

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.

Well while you may be correct with the fact that Ethereum blockchain maybe running smoothly at the moment it doesn't remove the need for an improvement on the scalability of her blockchain, a need which Ethereum elite group are failing at to implement to bring ethereum up to modern infrastructure standards, I'm sorry to say if Ethereum do not work on this soon it may arise some problem for her with time as some blockchains are ready to take her place

[MinedBlock]

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.

Well while you may be correct with the fact that Ethereum blockchain maybe running smoothly at the moment it doesn't remove the need for an improvement on the scalability of her blockchain, a need which Ethereum elite group are failing at to implement to bring ethereum up to modern infrastructure standards, I'm sorry to say if Ethereum do not work on this soon it may arise some problem for her with time as some blockchains are ready to take her place

There are plenty of options for issuing a compliant security token on another network so there is no reason why we couldn’t issue a token swap and move everything over if the need arises

[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.

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

Minedblock tokens being a security token needs polymath platform which is designed to support security tokens in a secure and complaint way, this makes polymath a better choice to Ethereum.

Okay, so that is a good move to them that they keep it secure, hope that there are a lot of investor in this project so it can become more successful.

[justsimpleram]

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.

Minedblock tokens being a security token needs polymath platform which is designed to support security tokens in a secure and complaint way, this makes polymath a better choice to Ethereum.

Okay, so that is a good move to them that they keep it secure, hope that there are a lot of investor in this project so it can become more successful.

That's good I think they choose the right choice and choosing POLY with this they can be more functional than ETH. I want to know more about this POLY and it's good to be here to see what it can do for a project.

[Dump3er]

I was surprised by the relatively good rating on ICObench I think. I was a bit cautious here as I remember a similar project that turned out to be a scam. Will give this another look.

Were there already other mining projects that went the security token road and turned out to be a scam? Hard to believe because it isn't that easy to just disappear again when you have all your documents already checked by the SEC.

Is that officially verified that they have all their documents "checked" by the SEC? I know there are a couple of exemptions and easy routes that come with severe limitations in regards to your offering. Is this a real security token offering with all the huge hurdles having been taken? The full process is said to cost in the millions of USD.

[MinedBlock]

I was surprised by the relatively good rating on ICObench I think. I was a bit cautious here as I remember a similar project that turned out to be a scam. Will give this another look.

Were there already other mining projects that went the security token road and turned out to be a scam? Hard to believe because it isn't that easy to just disappear again when you have all your documents already checked by the SEC.

Is that officially verified that they have all their documents "checked" by the SEC? I know there are a couple of exemptions and easy routes that come with severe limitations in regards to your offering. Is this a real security token offering with all the huge hurdles having been taken? The full process is said to cost in the millions of USD.

For now we’ve gone the ‘easy’ route and filed the exemption which means we can’t sell to non-accredited US investors but we are planning the Reg A+ route. Corl are already some way down the path of registering a Reg A offering so once they get theirs through it should be easier for other companies to get through too. Outside of the US there is far less limitation

[Nathan01]

It got to me while going through the minedblock Whitepaper first page that this have got to be the first mining STO we've got today, I invested in quite an handful of mining companies last year that promises a share of their revenue but are not able to scale due to the fact that they aren't registered yet by SEC

Investors are safe here 

[Sozialtourist]

I was surprised by the relatively good rating on ICObench I think. I was a bit cautious here as I remember a similar project that turned out to be a scam. Will give this another look.

Were there already other mining projects that went the security token road and turned out to be a scam? Hard to believe because it isn't that easy to just disappear again when you have all your documents already checked by the SEC.

Is that officially verified that they have all their documents "checked" by the SEC? I know there are a couple of exemptions and easy routes that come with severe limitations in regards to your offering. Is this a real security token offering with all the huge hurdles having been taken? The full process is said to cost in the millions of USD.

Are you sure it costs millions of USD to just get the security token sale approved by the SEC? Sounds pretty hard to believe. If this is true I doubt that there are many STOs that can afford to spend this much money on just setting up the requirements for a funding round.

[ning_aric]

It got to me while going through the minedblock Whitepaper first page that this have got to be the first mining STO we've got today, I invested in quite an handful of mining companies last year that promises a share of their revenue but are not able to scale due to the fact that they aren't registered yet by SEC

Investors are safe here 

Yeah. Investors are protected from strict regulations coming from SEC. I’ll expect the market value of the token not to be affected by announcements of government restrictions. It’s the first time investors would feel safe being part and getting rewarded for keeping the blockchain transactions safe.

[gee777]

It got to me while going through the minedblock Whitepaper first page that this have got to be the first mining STO we've got today, I invested in quite an handful of mining companies last year that promises a share of their revenue but are not able to scale due to the fact that they aren't registered yet by SEC

Investors are safe here 

In my opinion it might be still be too early to call as they are just beginning again. But from the way they have organised themselves, it seems like investors will be safe.

[Nathan01]

I was surprised by the relatively good rating on ICObench I think. I was a bit cautious here as I remember a similar project that turned out to be a scam. Will give this another look.

Were there already other mining projects that went the security token road and turned out to be a scam? Hard to believe because it isn't that easy to just disappear again when you have all your documents already checked by the SEC.

Is that officially verified that they have all their documents "checked" by the SEC? I know there are a couple of exemptions and easy routes that come with severe limitations in regards to your offering. Is this a real security token offering with all the huge hurdles having been taken? The full process is said to cost in the millions of USD.

Are you sure it costs millions of USD to just get the security token sale approved by the SEC? Sounds pretty hard to believe. If this is true I doubt that there are many STOs that can afford to spend this much money on just setting up the requirements for a funding round.

I'd rather leave this area to be cleared by the Sec themselves, I've started couple of enquiries to that already on Twitter, my opinion is if projects are allowed to paid for verification I think it defeats some neutrality of the SEC body howbeit I'd love to confirm this claim

[MinedBlock]

I was surprised by the relatively good rating on ICObench I think. I was a bit cautious here as I remember a similar project that turned out to be a scam. Will give this another look.

Were there already other mining projects that went the security token road and turned out to be a scam? Hard to believe because it isn't that easy to just disappear again when you have all your documents already checked by the SEC.

Is that officially verified that they have all their documents "checked" by the SEC? I know there are a couple of exemptions and easy routes that come with severe limitations in regards to your offering. Is this a real security token offering with all the huge hurdles having been taken? The full process is said to cost in the millions of USD.

Are you sure it costs millions of USD to just get the security token sale approved by the SEC? Sounds pretty hard to believe. If this is true I doubt that there are many STOs that can afford to spend this much money on just setting up the requirements for a funding round.

Our initial research into a Regulation A offering puts the price at anything from $250,000 to $600,000 depended on how much marketing you include. The ongoing audit and filing costs could be around $150,000 a year. None of that is verified yet but you’d have to be working with a pretty large startup budget to do it as a new project. If we successfully complete our raise and once we’re up and running then we’ll definitely aim to do it. Being able to allow anyone to invest would be a great position to be in.

[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.

Well while you may be correct with the fact that Ethereum blockchain maybe running smoothly at the moment it doesn't remove the need for an improvement on the scalability of her blockchain, a need which Ethereum elite group are failing at to implement to bring ethereum up to modern infrastructure standards, I'm sorry to say if Ethereum do not work on this soon it may arise some problem for her with time as some blockchains are ready to take her place

There are plenty of options for issuing a compliant security token on another network so there is no reason why we couldn’t issue a token swap and move everything over if the need arises

Good that there are no problems to do a swap if the need for one comes up. But as I said earlier. I am really glad that you went with Ethereum for your STO. In my opinion, Ethereum hasn't even nearly reached it's full potential and it already now has a huge network both of developers and miners all over the world.

[Owillz]

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

Hopefully, scammers will not take advantage of this "arrange a special payment outside of the smart contract" on your telegram page. Causey I have received messages from scam who promise to offer some sort of discount if you pay using the special address they are going to provide.
You guys need to constantly protect your investors against such scams.

[justsimpleram]

It got to me while going through the minedblock Whitepaper first page that this have got to be the first mining STO we've got today, I invested in quite an handful of mining companies last year that promises a share of their revenue but are not able to scale due to the fact that they aren't registered yet by SEC

Investors are safe here 

In my opinion it might be still be too early to call as they are just beginning again. But from the way they have organised themselves, it seems like investors will be safe.

Yeah investors is more safe here in this project their investment will be more secure here because of the STO people should explore and participate a project like this and not to the projects that don't have STO.

[em777]

It got to me while going through the minedblock Whitepaper first page that this have got to be the first mining STO we've got today, I invested in quite an handful of mining companies last year that promises a share of their revenue but are not able to scale due to the fact that they aren't registered yet by SEC

Investors are safe here 

In my opinion it might be still be too early to call as they are just beginning again. But from the way they have organised themselves, it seems like investors will be safe.

Yeah, and also they are Also STO now I believe minedblock have staged themselves to be a great project now let hope all goes well with this new approach

[Pricebrianer]

Electricity cost could go so high to cut down profits on mining. Minedblock would be using 100% green electricity in highly cost effective locations.

[Getadaaa]

Electricity cost could go so high to cut down profits on mining. Minedblock would be using 100% green electricity in highly cost effective locations.

There’s electricity cost and cost of mining hardware too. With increasing Mining difficulty you can’t use a standard computer to mine, you’ll need a specialized mining hardware. What mining hardware would Minedblock use?