ANNOUNCEMENT
Details of VMC Reedeming process and calculation:Dear VMC CommunityLet me summarize what You need to know about reedming VMC (for the new arrivals)
In nutshell:
VMC is Scrypt-N coin, launched on 3rd of May 2014
Coin is backed by Collateral Security which is actually a BTC cloud mining peformance in the background.
Originally it was launched on CEX.IO
We have had 2200GHS until the time it was became no profitable anymore (few weeks ago) so we have switched to zenminer.com (They are attached to gawminers.com)
We have turned our 2200 GHS into 186 MHS in hashlet (Exactly ZenHash)
http://gawminers.com/pages/hashlet-soloNow it is valued as 4000 GHS (on CEX.IO) at current GHS price.
CEX.IO is not profitable anymore, so GHS price is dropping.
We have just turned into a profitable investment in the last minutes. Only a few hours before GHS price was halved !!!
![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
So we have just saved our investment and doubled its value ! ("Our" means: VMC Community)
As reedeming VMC for GHS (on CEX.IO) was a feature for VMC owners, we make it possible here on zenminer.com as well.
Unfortunately transferring MHS is not possible on the site, but we have found a solution for You to reedem your VMCs.
We pay for them in BTC.
Calculation method is the same as it was on CEX.IO
All the MHS we have, divided by actual amount of VMC.
Originally 100.000.000 VMC were available in the system.
6.280.000 VMC are reedemed already, so now there are "only" 93.720.000 to calculate with:
186000KHS / 93.720.000VMC
1VMC = 0.00198463 KHS
1VMC = 0.00000198463 MHS
Actual price of 1 MHS on zenminer.com is 20.95$ at this time.
so:
0.00000198463 MHS * 20.95$ = 0.00004157$
1 VMC = 0.00004157$
1 BTC = 400$ at this moment
1 VMC = 0.00004157 / 400 = 0.00000010(3925) BTC
That means we will reedem 1 VMC for 0.00000010 BTC during next week !
2014.09.29, 00:00h - 2014.10.05, 24:00hTo protect our investment and ensure we could increase MHS amount on a weekly basis, we LIMIT the amount of REEDEMABLE VMCs for every week.
Current LIMIT: 2.000.000 VMCs reedemable this week !Limit will be announced every week on sundays...
You can download the CALCULATOR for VMC REEDEM from here:
https://mega.co.nz/#!IB0Rwb6T!4qRZ0EvbKRQeCF8VeT1bhLD3TM0AabBN-3i6G2GSRSwWith this calculator You can easily calculate the current reedem price for VMC at any time in the future.
Set the actual BTC price, MHS price, weekly reedem limit and actual MHS amount to get the correct price at any time.
Method is the same:
Send a mail to:
info@virtualminingcoin.org with the amount You want to reedem.
Will contact You with the addresses You have to send those VMCs. (Try to keep 24H respond time)
We will need Your BTC address to pay You out...
With this reedeming option VMC always will have a stable price (at least for the weekly limit amount) so You dont need to DUMP your VMCs anymore...
We'd like to have Your trust and also Your patience as well Guys.
We still have the IPO amount, cloud mining is ON, and the DEVS are NOT GONE, so You can trust us, we make it fair way !
To have and keep Your trust we plan to let You know about details once in a week.
- Amount of MHS (Collateral Security)
- Weekly average income by the MHS
- Amount of reedemed VMCs
Still looking for a solution to DESTROY reedemed VMCs in public to have trasparency !
Let us know if any working solution...
As collateral security is for backing ALL VMCs (included IPO amounts) Your investment will worth more and more after each reedeming week...!!!
The longer You HOLD Your VMCs, the more they will be valued...