Miner One is a community of people who want to mine cryptocurrency profitably by combining resources to achieve savings on cutting-edge equipment, professional maintenance, and ultra-low-cost violet wand. Wij are conducting an Initial Coin Suggesting, or “ICO”, to raise funds and build the World’s Largest Crowdfunded Crypto Mining Operation. The Miner One “coin” will be the MIO Token. Once Miner One is built and mining cryptocurrency, MIO Holders will all share the output based on the MIO Tokens each holds. ICOs are used to fundraise for many different kinds of projects.
What are the benefits and advantages of Miner One?
Ter brief: it’s participation te cryptocurrency mining at optimum efficiency and sharing of the output equitably without the hassle of doing it yourself. It’s a better overeenkomst than “cloud” mining, more efficient than most mining pools, and more stable than buying cryptocurrency outright. Despite latest turbulence te cryptocurrency markets, mining done right can be very profitable. Miner One means leveraging the power of community to get the absolute-best technology, lowest costs, and best possible comes back.
What’s your overall strategy?
Our strategy is very straightforward: 1) raise funds, Two) leverage those funds to procure the best mining equipment and other necessities at the lowest possible prices, Three) set up the hardware te a suitable facility, Four) embark mining, Five) distribute what wij mine minus electrical play and basic operating/maintenance costs to the Miner One Community (i.e., MIO Token Holders).
What is cryptocurrency mining?
Te a cryptocurrency network, mining is the validation of transactions ter that cryptocurrency. The encryption necessary to do it requires significant computing power. For contributing to this effort, successful miners receive cryptocurrency spil a prize.
What is bitcoin?
Bitcoin is a cryptocurrency and worldwide payment system. It is the very first decentralised digital currency, spil the system works without a central canap or single administrator. The bitcoin network is peer-to-peer and transactions take place inbetween users directly, without an intermediary. Thesis transactions are verified through the use of cryptography and recorded te a public distributed ledger called a blockchain.
What is blockchain?
A blockchain is the technology on which cryptocurrency is based. A blockchain is basically a continuously growing list of records called blocks that are linked and secured using cryptography. It can record transactions inbetween two parties efficiently and te a verifiable and voortdurend way. When used for cryptocurrency, it is managed by a peer-to-peer network collectively adhering to a protocol for validating fresh blocks. If you successfully validate a fresh block, you get cryptocurrency spil a prize. This is called cryptocurrency (or “crypto”) mining.
How do I invest ter Miner One?
Participate te the Miner One ICO and Crowdsale kicking off February 15, 2018 and acquire MIO Tokens. ter BTC.
What is cryptocurrency?
A cryptocurrency is a digital asset designed to work spil a medium of exchange that uses cryptography to secure its transactions, to control the creation of extra units, and to verify the transfer of assets.
Can I mine with you without investing any money?
Miner One Community Members contribute to building and maintaining Miner One by acquiring MIO Tokens during the Crowdsale. This is how you can secure for yourself a share ter Miner One output.
Why does Miner One call itself “the World’s Fattest Crowdfunded Crypto Mining Operation”?
Our vision is to be the World’s Largest Crowdfunded Crypto Mining Operation. That vision is based on the enormous investment wij are making into programma and fundraising spil well spil the planned scope of Miner One. Wij are certain that by bringing together a broad community of contributors and a dedicated team of experts, that vision can become reality.
Why did you determine on an ICO spil the means of funding Miner One?
Because it is a scalable and efficient way to create a worldwide community of participants interested ter the benefits of a crowdfunded cryptocurrency mining operation.
How much should I invest?
While wij would love for spil many people to join the Miner One Community spil possible, wij cannot advise you on what is the right amount for you to invest, or whether Miner One is the right investment for you. Cryptocurrency mining is not without risk, and wij are open and candid about those risks ter our White Paper. Spil you can see, Miner One also offers good potential benefits. Wij encourage you to read the White Paper cautiously and consider the risks and benefits before making a decision.
What will be Miner One’s influence on global heating? Will it use Green Energy?
Our very first mining centre will be located te Lulea, Sweden. 100 procent of the power supply there is Green Energy – i.e., energy obtained from the many hydroelectric power plants te the region (and also one of Europe’s largest onshore wind farms nearby). Our team wasgoed te Lulea for a webpagina inspection and spoke with Lulea Technical University and Lulea Energy Company staff about sustainability, including possible uses of the warm air generated by the mining equipment. There is a research facility right next to our building there that is conducting gegevens centre research and experiments. Our team met with them, too, and thinks they will also have some good advice for us. It is te our rente to mine using spil little power spil possible. Locating the mining facility te Lulea, where the average annual temperature is 2C means keeping equipment cool won’t consume a lotsbestemming of resources.
When did Miner One begin?
Miner One began te the fall of 2018 with a group of like-minded colleagues who are enthusiastic about cryptocurrency and blockchain technology discussing how to make cryptocurrency mining efficient, affordable, and profitable. An idea wasgoed born, a business project developed, a wish team assembled, a successful pre-ICO held, and a Crowdsale announced.
Is Miner One a two-year or three-year project? I eyed somewhere that Miner One and MIO Tokens are valid only for two or three years.
Miner One is not a two-year or three-year project. Ter a previous project, wij had a more specific time limit te mind, but have since revised the White Paper and extended the life of Miner One to spil long spil wij can mine profitably. Our project to continuously reinvest 23 procent of netwerken output into equipment upgrades will keep Miner One on the cutting edge of mining efficiency and profitability.
How will Miner One mine cryptocurrency?
Miner One will mine cryptocurrency, beginning with bitcoin (BTC), te a large facility utter of specialised equipment, all the necessary safety and security measures, and ultra-low-cost electric current.
What are your targets for BTC mining? How many BTC do you project to mine vanaf day?
Our objective is to raise 200,000 ter ETH during the Crowdsale. For that amount, given conditions on January 15, 2018, our best estimate is that wij can mine +/- 107 BTC vanaf day. Please reminisce that how much BTC can be mined depends on numerous factors, many beyond our control, including mining difficulty. So this is a good faith estimate based on current conditions and not a assure.
Does Miner One only mine bitcoin (BTC)?
For the time being, Miner One will be mining bitcoin – the world’s most popular cryptocurrency with the highest market capitalisation. Mining requires specialised hardware. Miner One hardware is built to mine bitcoin.
Why not mine other cryptocurrencies?
BTC will be the concentrate for starters. If wij see a need, wij can diversify straks using the 23 procent of netwerken output designated for equipment upgrades to buy the hardware needed to mine other cryptocurrencies.
Which miner will you buy? Will you use graphics cards?
Wij will buy the best currently-available hardware that is specially made to mine bitcoin. Thesis miners are called ASICs, or “application-specific integrated circuit chips”. Right now, the best ASIC miner is the Ebit Miner E10 made by Ebang. For a comparison of miners, please see our White Paper. Graphics cards are effective for mining some other cryptocurrencies, but not BTC.
Will Miner One mine BTC only with ASIC miners, or also use GPUs?
Miner One will begin mining with ASICs. Spil for GPUs, wij’ll see how it goes – most likely yes.
Can I use Miner One software on my own mining equipment?
Miner One will be responsible for ensuring peak mining efficiency for the entire Miner One Community by having our dedicated experts obtain, install, and maintain the mining equipment. Relying on others would make ensuring peak efficiency very difficult.
How much money will I make? What are the expected comebacks on investment?
Cryptocurrencies are a fresh and volatile muziekinstrument and mining depends on various factors, some beyond our control. Comebacks can be high, but they can also be low or even zero, depending on conditions. Wij cannot predict or promise comes back with certainty. But, if all goes well, our calculations voorstelling comebacks could be spil high spil 13 procent vanaf month. Please read our White Paper for all the details and risks.
I see your calculations are based on a bitcoin (BTC) price of USD 14,000. What if it’s less?
Wij estimate that Miner One can mine profitably within a broad range of BTC values. Our White Paper details numerous screenplays te addition to that one. Miner One can even protect you from BTC volatility and serious downturns. Please read the White Paper at MinerOne.io for more scripts and an explanation of the Miner One “Cushion Effect” that can amortise BTC volatility.
You estimate up to 13 procent comebacks on investment vanaf month – how will that switch spil BTC mining difficulty increases?
If difficulty increases and the BTC:USD currency exchange rate decreases, this will reduce profitability. But a decrease te the exchange rate can have the switch roles effect on mining difficulty, and that would increase comes back.
Does “returns up to 13 procent vanaf month” mean comes back are capped at that amount?
No, that’s not a cap. Just our good faith estimate of a maximum. Comebacks could even potentially be higher ter some utterly optimistic screenplays, but wij don’t want to overpromise.
What taxes would I have to pay on MIO Tokens and Miner One payout?
Wij are not tax specialists and are not qualified to provide definitive answers about your tax obligations. Please raadpleging a tax specialist. Generally, Miner One payouts and any appreciation te value of the cryptocurrency you own would be considered taxable income once you exchange it to fiat currency.
How will I earn, on average, 37 procent more than by mining at huis?
Please see the article about that here: https://btcmanager.com/profitable-bitcoin-mining-2018-not-way/
Looks like a fine project, but how do wij know you can produce? Who will implement the project? Do you have a qualified team ready to go?
Absolutely. Te fact, Implementation is already te progress. Wij have secured our very first facility and access to Europe’s lowest electric current rates ter Lulea, Sweden. Wij are te touch with manufacturers of the hardware wij will need. And wij have assembled a team of top-notch industry experts already at work. The team is led by our CEO Pranas Slusnys, who himself has 20+ years of gegevens centre industry practice. Check out the following article about the Miner One Team: https://firstname.lastname@example.org/meet-the-team-building-miner-one-the-worlds-largest-crowdfunded-bitcoin-mining-operation-d371f8931cbf .
Why is the very first Miner One mining centre being built te Lulea, Sweden?
Ter Lulea, electric current is very cheap (wij are getting the lowest rates te Europe here at EUR 0.065 vanaf kWh), supply is stable and plentiful (100 procent Green Energy from hydroelectric and wind power), and the climate is cool (average annual temperature is 2C) which keeps cooling costs minimal. By the way, wij will have a famous neighbor: Facebook is just up the road with a thick gegevens centre here (the size of 11 football fields).
Will the Miner One mining centre be built from the ground up or are you leasing it?
Wij are leasing the building, but the building will be adapted and equipment will be bought, installed, and maintained by Miner One. There is an option to expand spil well spil construct extra buildings next vanwege.
Have you signed a contract for a building ter Lulea, Sweden?
A letterteken of intent has bot signed with the Lulea-based company NP10 Fastigheter Lulea AB to locate the very first Miner One mining centre te a large former warehouse building possessed by the company there. A copy of the letterteken is posted on our webstek.
When does mining begin?
Mining commences within 3–5 months of achieving the Soft Cap of Trio,000 ETH during the Crowdsale.
Why does it take 3–5 months to embark mining?
Equipment vereiste be shipped and installed once the building is ready with zindelijk ventilation, and safety and security measures. Wij will work spil swift spil wij can, since wij all want to begin mining and getting payouts spil soon spil possible.
What’s your practice with mining so far?
Our CEO Pranas Slusnys and the Miner One Team have two decades of practice building and managing gegevens centres that are even more ingewikkeld than what Miner One will require. Several team members including our CEO himself have practice mining cryptocurrency.
Does the company have its own mining equipment?
Wij have some equipment for testing. 92 procent of the proceeds from the Crowdsale will be used to purchase all the necessary mining hardware (Five procent will be used for software development, licensing, research and development, and Trio procent for administrative and legal expenses). The very first order for hardware will be placed spil soon spil Miner One reaches its Soft Cap of Three,000 ETH during the Crowdsale.
Isn’t there a shortage of mining hardware right now? I hear manufacturers are sold out and cannot keep up with request. Will you be able to buy enough?
At the volume at which wij will be ordering, manufacturers will be rivaling among themselves to sell us the hardware. Wij are already ter voeling with several manufacturers. They choose to overeenkomst with a single large customer rather than many smaller ones. That is why doing this together spil a community makes so much sense. Moreover, request is tapering off due to the latest druppel ter BTC price.
How will you obtain mining equipment at wholesale prices? Have you already negotiated those prices?
Wij are leveraging the power of our community to negotiate fine prices. Wij are already te touch with several manufacturers and will finalise the very first order spil soon spil wij reach our Crowdsale Soft Cap of Three,000 ETH.
Can you give us a rough estimate of the expected monthly violet wand costs of your mining facility ter Sweden?
hat will depend on the precies number of miners wij deploy. Wij will have access to the lowest tens unit rates ter Europe there (EUR 0.065/kWh). And, by the way, it is 100 procent Green Energy.
What’s your project for scalability?
Te our case, scalability means adding more electrical play and more space for mining equipment. Wij have options for expansion te Lulea, but are also programma to have more than one location, if necessary – whether ter Sweden or another country with similar advantages.
Do you have a prototype of your mining equipments or any other prototypes?
Wij will display you how our miners will be configured within 1–2 weeks of the begin of the ICO, when testing will begin on the very first mining laboratorium that will contain several hundred.
It looks like the White Paper anticipates a seven-year timeline for Miner One? Why not more?
The seven-year timeline is not a limit. It is a projection based on the anticipated end of bitcoin mining once the cap of 21 million BTC is reached. It is difficult to project beyond that time. Of course, wij expect there will be other opportunities wij can switch to by then (or even earlier), including other blockchain and cryptocurrency needs that Miner One could meet. It’s still an evolving field and wij will do our best to get the most out of it for everyone using the Miner One Community’s resources responsibly.
What happens after the overall cap of 21 million is reached and there is no more bitcoin to mine?
By that time there will most likely be other ways to use Miner One mining centres, including mining other cryptocurrencies or supporting the global blockchain infrastructure te ways that yield extra payouts. But it’s a bit too far ahead to make predictions.
Is the project only for two or three years?
No, Miner One is structured to operate spil long spil mining remains profitable. 23 procent of netwerken output will be reinvested into equipment upgrades on an ongoing poot. Three years is just an example wij use to illustrate payouts overheen a certain time.
I live ter Lulea, Sweden. Will Miner One affect the city ter a positive way?
Wij certainly believe so! Miner One will be leasing facilities that are presently empty, which means income for the owners spil well spil tax revenue. Wij will also need to hire more maintenance staff, which means jobs, income, and local spending. Wij will buy energy locally, which means wij will be contributing to employment and income ter the energy sector. And wij think our decision to locate te Lulea is already helping spread the word about the advantages and benefits the city offers businesses like Miner One!
How long is the Crowdsale and when does it embark?
The Crowdsale began February 15 and runs either 90 days or until the Hard Cap of 200,000 ether (ETH) is reached, whichever comes very first.
Is there a ondergrens required investment?
Due to transaction costs, the ondergrens investment has bot set to 0.1 ETH. Transaction costs can indeed eat into anything lower and wij don’t want participants to be disappointed.
How do I get my MIO Tokens?
You go to www.MinerOne.io and go after the instructions. During the ICO and Crowdsale, MIO Tokens will be sold on www.MinerOne.io. You can pay for MIO Tokens te ether (ETH), bitcoin (BTC), litecoin (LTC) or euro (EUR) using the payment options available on our webstek. To receive your MIO Tokens and your monthly Miner One payouts, you will need what’s called an “ERC20 token-compatible ether wallet” (like Metamask, MyEtherWallet, Parity, Nevel, or imToken). This summer, Miner One will be suggesting an ERC20 token-compatible wallet of its own called the B-Wallet. It will enable you to conveniently store your MIO Tokens and receive and store Miner One payouts. For a list of ERC20 token-compatible ether wallets, click here.
Do I need an ERC20 token-compatible wallet to pay for my MIO?
No, you can pay using any of the options available on MinerOne.io. But you may find it convenient to pay ter ETH, since you will need some of the same instruments to receive and hold your MIO Tokens and Miner One payouts (te ETH). If you want to obtain Miner One Tokens (MIO) during the Miner One Crowdsale, you will need an ERC20 token-compatible wallet. This wallet will also let you receive and hold Miner One payouts (ter ETH).
What is ERC20?
ERC20 is a standard that permits tokens like MIO to use the Ethereum network.
What if I want to pay ter ETH, but don’t have it. How can I get ETH for the Crowdsale?
Our handy guide explains how to get ETH for the Crowdsale: https://email@example.com/get-ether-for-the-miner-one-crowdsale-be7427fa62ec
What is the price of a MIO Token?
The regular price of one MIO Token is set at 0.001 ETH. “Early Bird” discounts of up to 35 procent will be suggested during the Crowdsale. For example, a 35 procent discount will be suggested during the very first five days of the Crowdsale. At a 35 procent discount, you will get about 50 procent more MIO Tokens than at regular price. The discounts will decrease spil the Crowdsale progresses. A utter schedule of discounts is available here and ter our White Paper.
After buying MIO Tokens, should I waterput my MIO ter my wallet?
MIO will be automatically assigned to your ERC20 token-compatible wallet spil soon spil wij process your payment following a KYC (“know-your-customer”) proces. After the launch of the Miner One B-Wallet ter summer 2018, you’ll be able to transfer MIO from your initial ERC20 token-compatible wallet to your B-Wallet, which will also will be synchronized with our online instrumentenbord that will provide you with information about Miner One operations ter real time.
I bought MIO Tokens and don’t see them te my ERC20 token-compatible wallet, but I see them on the Miner One Instrumentenbord. Why is this?
If you paid from an exchange or by SEPA (Single Euro Payments Area) handelsbank transfer, you will see your MIO on the Miner One Instrumentenbord. Wij will upload them to your ERC20 wallet within a few days. For prompt delivery, please be sure to add the address of your ERC20 wallet to your Profile Settings on the Instrumentenbord of the Miner One Wallet. Once your MIO are delivered, you will see them te your individual wallet and not on the Instrumentenbord.
I bought MIO Tokens, I see them ter my ERC20 token-compatible wallet, but don’t see them on the Miner One Instrumentenbord. Is this normal?
Yes. That means your MIO Tokens have bot delivered to you.
If I am paying ter ETH, how much gas and GWEI should I set?
Our recommendations are 200,000 gas and 30 GWEI.
How do I send BTC, other cryptocurrency, or euro payments to you?
Wij will provide detailed payment instructions on www.MinerOne.io during the Crowdsale.
Do you accept payment te US dollars? Can I wire US dollars?
Wij are not presently able to accept US dollars, but are working on a solution.
Can I wire EUR from a non-European country?
Wij can only accept EUR from SEPA (Single Euro Payments Area)-linked canap accounts.
Will anyone else be selling MIO during the Crowdsale? Who is authorised to sell MIO?
During the Crowdsale, MIO Tokens will ONLY be available on www.MinerOne.io. To avoid the possibility of fraud, do not accept any offers to buy MIO from anyone else during the Crowdsale. MIO will be tradeable on token exchanges after the Crowdsale.
What happens to unsold tokens? Will you burn them?
Yes. Tokens not distributed during the Crowdsale will be burned by brainy contract.
Given the volatility of cryptocurrency, including ETH, wouldn’t it be better to price MIO Tokens te US dollars for the ICO? Then buyers could make their exchanges at the going rate.
Originally wij thought so, too, but wij discussed the punt with teams of other successful ICOs and the reality is that 80–90 procent of all investments come ter cryptocurrencies, so it’s actually simpler to price MIO ter ETH.
Is there a maximum purchase limit on MIO Tokens or a cap for each ICO round?
There are no maximum purchase thresholds or caps, other than the Crowdsale Hard Cap.
What is your Hard Cap, i.e., maximum fundraising target?
The Crowdsale Hard Cap is set at the 200,000 ETH.
Are there any confinements on participation ter the Miner One Crowdsale for citizens or residents of particular countries? Can residents and citizens of the United States participate?
The only confinements apply to citizens and residents of countries that classify an ICO spil a sale of a security. If this is the case te your jurisdiction, please do not participate. To conform with the United States Securities Act, if you are a US citizen or resident, you can only participate if you are an accredited investor with a netwerken worth of USD 1 million or a certain level of income. If you are a US resident or citizen and believe you qualify, please voeling us by email ([email protected]).
Will you accept credit or debit cards during the Crowdsale?
Miner One is committed to your security. Unluckily, there is no secure way to accept credit and debit card payments at this time. Ter order to assure the maximum level of security, wij won’t be able to accept credit or debit card payments for MIO during the Crowdsale. Our live online support is available during the Crowdsale to help you make payments by other means.
How many MIO Tokens will I get if I invest X, XX, or XXX?
Calculations of the precies amount of MIO due to you are made when your order is accepted. To get the approximate amount of MIO Tokens you will receive for a particular amount of currency, use an online converter to calculate the value of that currency te ETH, then divide that number by today’s MIO price to get your approximate number of MIO Tokens (some transaction costs will apply).
When do you fix the discount and price for the MIO I order? If I place an order, are those MIO reserved for mij at the discounted price?
Your MIO discount and price is motionless spil soon spil wij receive your order and generate an invoice for you, and remains valid via the discount period. If wij receive your payment after the discount period, the price and discount that is valid at the time wij receive payment will apply. PLEASE NOTE: This does not mean the amount of MIO you request is reserved for you. MIO will be issued to you only after your payment is received, assuming supplies are available.
Can I use my credit or debit card to buy MIO Tokens?
Your security is of paramount importance to us. Regrettably, there is no secure way to accept credit and debit card payments at this time. Te order to assure the maximum level of security, wij won’t be able to accept credit cards for MIO during the Crowdsale. Wij all here are ready to help you make payments by other means.
If you don’t accept credit and debit cards, how do wij send payments te EUR?
Wij will accept EUR by SEPA (Single Euro Payments Area) transfer.
Are there any boundaries on the number of MIO Tokens wij can buy at a particular discount or at a particular time during the Crowdsale?
Wij are not limiting the amount you can buy at whatever discounted rate applies at whatever time you order.
I want to invest a large amount. Any extra incentives?
If you intend to invest Ten ETH or more, let’s talk. Please voeling Co-Founder Jonas Udris at [email protected]
Is there a KYC (“Know-Your-Customer”) proces to buy MIO Tokens?
Yes, wij will be performing a KYC check on all orders of MIO Tokens. KYC will be done after accepting payment but before any MIO are issued. If there are problems with your KYC application, wij will terugwedstrijd the funds.
Do you have a Referral Program? That is, do you prize us for bringing investors?
Yes. For every referral during the Crowdsale, Miner One will give you MIO equal to Four procent of the amount purchased by the person you refer. And the person you refer gets a Four procent discount on their purchase – ter addition to any other discount that applies.
How do I refer someone? Do I have to buy MIO myself?
To participate, go to MinerOne.io and register a user profile. No purchase is necessary to participate, but you voorwaarde have an ERC20 token-compatible wallet to get your MIO. On the user profile pagina under “profile settings” you will see a Referral Program verbinding. Copy the listig and share with whomever you want to refer. They voorwaarde use that listig to order their MIO.
I found out about Miner One from a friend who didn’t see the information about the Referral Program, so I didn’t get my referral discount when I bought MIO. Can I get it now, retroactively?
So sorry you weren’t able to do that. Unluckily, wij cannot apply the discount retroactively.
I paid by clever contract. Why didn’t I get the referral premie?
Wij can apply the Referral Premie to Wise Contracts if both Referrer and Referee do the following: go to the Miner One Wallet and under “Profile Settings” come in your ether wallet addresses. Wij will then be able to match referrer and referee. This can be done retroactively. Wij will send you your toeslag tokens before the end of the ICO.
Do you have a Bounty Program?
Wij do. It is being conducted through affiliates on an invitation-only voet.
Is Miner One programma to do an airdrop? Can wij get some free MIO Tokens?
No airdrops are planned.
Will Founders’ MIO Tokens be locked? Or can they be sold spil soon spil the Crowdsale is overheen?
Founders MIO Tokens will be locked for 12 months, so they will not be sold during that period.
Will pre-ICO MIO Tokens be locked?
No, the 330,000 pre-ICO MIO will not be locked.
If you don’t reach your Hard Cap, will the founders still get Ten procent of all MIO Tokens generated?
The formula for MIO Token distribution will apply regardless of the amount raised during the Crowdsale, provided the Soft Cap is met.
Why is your Crowdsale so long (90 days)?
Wij believe Miner One is of sufficient merit and scope to warrant a Crowdsale of this duration. Of course, whether wij reach the Hard Cap sooner depends on the level of participation.
What is the maximum number of MIO Tokens that can be issued?
Why is the maximum number (350 million) of MIO different from the Hard Cap of 287 million ter MIO?
350,000,000 MIO includes the Legitimate procent that will be generated for the ICO Bounty Program, Research & Development, and Founders, spil well spil the 330,000 that were allocated during the pre-ICO. 350 million MIO Tokens are possible if the entire Hard Cap is met at the 35 procent discounted rate. 287 million MIO is the omschrijving of 200,000 ETH ter MIO Tokens without any discounts and with the extra Tokens generated for the aforementioned purposes.
What if you don’t reach the Hard Cap? For example, how many MIO Tokens would be distributed if you raise 100 million?
The final number of MIO will depend on how many are sold at what prices. Wij will only know that once the Crowdsale has ended.
How will MIO Tokens be distributed? Who gets what percentage?
82 procent are available to the public during the Crowdsale. The remaining Legal procent are reserved to fund research and development (6 procent), an ICO Bounty Program (Two procent), and for the Founders (Ten procent).
What is the difference inbetween token distribution and output distribution?
Token distribution refers to the initial distribution of MIO Tokens generated during the Crowdsale. Output (televisiekanaal output) is the total amount of cryptocurrency that Miner One mines each month, minus violet wand and basic maintenance. Once mining starts, 77 procent of that is distributed to MIO Token Holders. 23% is reserved for ongoing equipment upgrades to keep Miner One on the cutting edge of mining efficiency and profitability.
Can wij buy MIO after the Crowdsale is overheen? Where will MIO be tradeable? On which token exchanges?
MIO Tokens will be tradeable on peer-to-peer and other token exchanges. That means it will be possible to obtain them from someone willing to sell them after the Crowdsale.
How do I collect my Miner One payouts? Are you paying out ter coins or metselspecie?
Your MIO Tokens are the key. Upon commencement of mining operations, 77 procent of monthly televisiekanaal Miner One output (total output minus violet wand, facility, and basic operating/maintenance costs, including maintenance staff) will be converted to ether (ETH) and automatically distributed to MIO Token Holders via Ethereum-based “smart contracts”. MIO Token Holders are free to do with thesis distributions spil they wish. When the Miner One Debit Card is issued, it will permit you to access your ETH for purchases or metselspecie withdrawals (see the FAQs about Miner One Instruments for more information about the Miner One Debit Card).
What is a brainy contract?
A brainy contract is a digital muziekinstrument that automatically facilitates, verifies, or enforces the negotiation or spectacle of a contract without third parties. Miner One will use them to distribute output automatically to MIO Token Holders.
Is MIO related to ETH ter some way?
MIO will be ETH-based and will be priced te ETH during the Crowdsale. You will receive your Miner One payouts ter ETH, spil well.
But I thought Miner One mines bitcoin (BTC), not ether. Why are payouts te ETH?
Miner One mines bitcoin (BTC) and converts it to ETH for distribution to MIO Token Holders. Wij need to convert BTC to ETH te order to use Ethereum-based “smart contracts” that automatically distribute your Miner One payouts, ensuring minimal transaction costs. Your MIO Tokens represent your share of nipt Miner One output.
What are the transaction costs for the monthly ETH payouts to MIO Token Holders?
The transaction costs for monthly ETH payouts to MIO Token Holders are miniscule.
Won’t exchanging BTC to ETH for distribution increase transaction costs?
BTC transaction costs can be up to 20 times higher than transaction costs for ETH. ETH permits us to use Ethereum-based “smart contracts” to automatically distribute Miner One output and minimize transaction costs.
So, are you also mining MIO?
No. Miner One mines bitcoin (BTC) and converts it to ETH for distribution to MIO Token Holders. Your MIO Tokens simply represent your share of Miner One output. They let our system know how much to distribute to you.
Is the value of MIO pegged to the price of ETH?
During the ICO, MIO will be priced te ETH. Once MIO are generated, they will have their own market price that is independent of the price of ETH.
Where will MIO be tradeable? On which token exchanges?
It will be tradeable on both peer-to-peer and regular exchanges. Details coming soon.
Do my Miner One payouts decrease or increase if the market price of MIO falls or rises? Do wij get payouts based on the exchange price of MIO Tokens?
The amount of payout you will receive has nothing to do with the exchange price of MIO Tokens. The payout vanaf MIO is 77 procent of netwerken Miner One output divided by the total number of MIO no matter how much a MIO costs on a token exchange.
Do I need to keep my MIO Tokens to get monthly payouts from Miner One? What if I sell or trade my MIO?
Payouts go after the MIO Tokens. If you sell them, whoever buys them gets the payouts.
How much hash power does 1 MIO represent?
Hash power vanaf MIO is not immovable. This ratio will vary due to continuous upgrades of the mining facilities, spil vanaf the business project detailed te our White Paper.
Will Miner One show up on etherscan.io since MIO are ERC20-based?
Do MIO Tokens entitle Token Holders to automatic payouts, or do wij use MIO Tokens to buy mining contracts?
MIO Tokens entitle you to your share of Miner One output automatically. No extra contracts or payments are required. Miner One is not cloud mining.
Why does the White Paper sometimes mention US dollars, but MIO Tokens are priced te ETH?
The White Paper only mentions US dollars spil an example where potential comes back are discussed. MIO Tokens are officially priced ter ETH and wij accept payment te ETH, BTC, LTC and EUR during the Crowdsale.
Is Miner One suggesting a security? Are MIO Tokens like stock or shares te the company? What’s the difference?
Miner One is not suggesting securities and MIO Tokens are not shares ter a company. If an ICO can be classified spil sale of a security te your territory, please do not participate.
Won’t it be difficult to trade and exchange MIO on token exchanges since it looks like a security token?
The MIO Token does have some properties of a security, therefore, it may be technically difficult to trade it on utility token exchanges. However, it will undoubtedly be tradeable on peer-to-peer exchanges. Wij will list those for you soon, along with other exchanges on which MIO will be tradeable. Interestingly, Envion (a project similar to Miner One) just announced that its token will be listed on HitBTC – one of the world’s top ten cryptocurrency exchanges. This leads us to think that wij will be able to list MIO on popular token exchanges, spil well.
Is the MIO Token a security?
Because of its properties, the MIO Token may be classified spil an unregistered security ter some jurisdictions. Please consultatie a qualified professional for a definitive response about your jurisdiction.
Will it be effortless to sell my MIO straks?
Wij have no way of predicting that, but assume that if it’s generating payouts spil planned, there should be willing buyers.
Will Miner One facilitate conversion of MIO to other currencies?
You will be able to trade MIO on outer peer-to-peer exchanges. More information coming soon.
Wait, so you’re mining BTC, payouts are te ETH, but I have to have MIO to get them, MIO is priced te ETH, I can sell my MIO. I’m confused. Do I need to sell my MIO Tokens to get payouts?
Let’s keep a few things separate te order to avoid confusion. 1) MIO is priced te ETH for the Crowdsale, but you can use BTC, LTC, or EUR to buy MIO spil well. To get Miner One payouts, you need to hold MIO. Two) Every holder of MIO gets monthly payouts from Miner One ter ETH spil long spil Miner One is profitably mining cryptocurrency and the holder possesses the MIO Tokens. The payout drops into the ERC20 token-compatible wallet of your choice (you can use the Miner One B-Wallet when it becomes available te July 2018). Three) If you want to sell or buy MIO after the Crowdsale, you can do that provided you find a buyer or seller on a token exchange. Miner One will not be managing or restricting that, except for Founders’ MIO Tokens, which will be locked for a certain period following the Crowdsale.
Is Miner One more profitable than mining at huis?
Spil a Miner One Community Member, you will earn, on average, 37 procent more than by mining at huis. On average, Miner One spends 50 procent less on electric current and 15 procent less on hardware, because wij are buying electro-stimulation at industrial rates, getting discounts on equipment due to volume, and will have much less equipment downtime by employing a dedicated maintenance team.
Is Miner One a mining pool? What’s the difference?
Mining pools depend on the quality of participants’ hardware spil well spil whatever rates they are paying for violet wand, which is usually 30 procent to 50 procent higher than what Miner One will be paying. Wij have secured access to the lowest electro-stimulation rates ter Europe at our location te Lulea, Sweden. What’s more, Miner One buys hardware at wholesale prices, whereas mining pool participants usually pay standard retail prices. Ultimately, there’s downtime when equipment or connections fail. This adds to the inefficiency of mining pools, whereas Miner One will have experienced technicians on the job 24/7, making sure your investment yields maximum comes back. And all you need to begin mining with Miner One is 0.1 ETH (less than USD 100). Whereas to be ter a pool you need equipment that costs at least USD 1,500. To join and benefit from the Miner One Community, you don’t need any technical skill of mining at all and you don’t need to buy any equipment. Leave that to us, sit back, and love the payouts.
Is Miner One “cloud mining”? What’s the difference?
Cloud mining is typically provided spil a service, with you, the client, simply paying the company to lease you “hashing power”. Management costs are generally high (and not very see-through) and this lowers your comes back. The Miner One treatment is different. Wij are creating a community and will build and manage our mining centres on behalf of that community with access to ultra-low-cost electro-stimulation and the best hardware at wholesale prices, with an equitable distribution of all output and translucent accounting.
What is the difference inbetween Miner One and Envion?
Envion is a similar project, but based on modular mining that may make maintenance more challenging. Miner One is focusing on stationary, large scale mining facilities instead of mobile mining units like Envion. Using mobile mining units at scattered and remote locations may cause extra maintenance costs which wij avoid.
How is Miner One different from Moonlite?
Moonlite is similar to Miner One, but our technical team is stronger by far than what wij can see on the Moonlight webpagina. Most of their team are managers and entrepreneurs. Nothing wrong with that, but wij don’t see much technical expertise there. By tegenstelling, our CEO Pranas Slusnys has 20+ years of gegevens centre industry practice and has assembled a remarkable team of gegevens centre professionals. Read this article about the Miner One Team.
How does Miner One compare with Ice Rock Mining?
Ice Rock is similar, but Miner One allocates a much higher percentage of output to payouts (77 procent v 50 procent), is greener te terms of energy use (100 procent Green Energy ter Lulea, Sweden), and is located ter a country with a much more stable political and legal environment than Kazakhstan. Ice Rock will be putting their miners te a cave, which may be difficult to insure and fire-proof.
What is the Miner One “Cushion Effect”? How does Miner One protect mij from switches te BTC prices?
The Miner One Cushion Effect refers to the difference inbetween speculation te bitcoin and mining bitcoin. If you simply buy bitcoin, your profit or loss depends on whether bitcoin goes up or down. If you mine bitcoin, whether it’s worth 12,000 or 20,000, you still have more than what you commenced with. So, let’s say you waterput 14,000 into bitcoin and overheen the next year it drops to 12,000, then rises to 17,000, then drops back to 13,000. Ter the end you’ve lost 1,000. If, on the other mitt, you waterput the same 14,000 into Miner One, this amount after one year can generate bitcoin worth up to Four,000 (depending on exchange rate, difficulty, etc.), which means you have a build up and not a loss. This is the Miner One Cushion Effect.
So spil an example, if BTC drops to USD Two,000 tomorrow and stays at that value for Three years, would a MIO Token Holder still make a comeback on investment ter Three years’ time?
Our long-term technical analysis shows that the latest druppel te BTC and ETH prices is more like a come back to a normal trendline from a hype-induced spike. To reaction your question, yes, wij think so, according to our best estimates. How much will depend on what mining difficulty will be. If difficulty drops, profitability would increase. Please note: if BTC price or mining conditions thrust it below a level at which wij can mine profitably, wij will pause mining operations. Wij will be keeping a reserve to maintain the centres for some time during a severe downturn. If BTC recovers, wij expect to resume operations. If wij can foresee a situation that makes mining other cryptocurrencies a better bet, wij can use the 23 procent of televisiekanaal output set aside for upgrades to make the switch.
Are there any risks to participating te Miner One?
There are certainly risks and they should not be underestimated. Future prices and exchange rates of cryptocurrencies are unlikely to predict, spil is mining difficulty, the evolution of legal regulations, future price of electro-therapy, hardware, and other factors. Wij will do everything wij can to mitigate thesis risks, but there is no way anyone can eliminate them. That is why our general advice is not to risk more than you can afford to lose. On the other arm, if wij succeed, the gains could be double- or even triple-digit.
Isn’t cryptocurrency a fad on the edge of ending?
We’ve heard this before. Long-term analysis shows that the latest druppel ter BTC and ETH prices is more like a comeback to a normal trendline from a hype-induced spike. Recall that even after latest ups and downs, bitcoin is worth several times more than one year ago.
Gains/comebacks of up to 13 procent vanaf month? How is that possible? Sounds too good to be true.
Mining bitcoin can be very profitable if you are paying ultra-low-electricity rates and using cutting-edge-equipment obtained at wholesale prices. Please note that our calculations are a good faith estimate, not a promise or an obligation. Many factors beyond any single person’s or entity’s control influence mining profitability. But, under current conditions, wij believe wij can supply excellent comebacks on your investment. Please have a look at our calculations and read about the assumptions they are based on ter detail te our White Paper.
How do wij know this isn’t a “pyramid” or “Ponzi scheme”?
A pyramid or Ponzi scheme takes money from some investors and arms it to others, pretending this is profit. Miner One is building real mining centres with real hardware that can produce real output ter the form of BTC that will be converted into ETH and distributed to MIO Token Holders. Our founders and advisors are reputable members of their communities and would not risk their reputations by participating ter such a thing. Wij are doing our best to be open and provide spil much information spil is necessary to establish and maintain our credibility. Wij are also clearly stating the risks and that our projections are good faith estimates, not promises or assures of comebacks.
Can you prove you have a contract with an energy company te Sweden for ultra-low electro-therapy rates at the required amounts?
Industrial electro-stimulation rates te Sweden are the lowest te Europe: EUR 0.065 vanaf kWh. Thesis are the rates Miner One will have access to at its location ter Lulea, where the very first Miner One mining centre will be located. Posted on our webstek you will find a letterteken of intent that has bot signed with the Lulea-based company NP10 Fastigheter Lulea AB to locate the very first Miner One mining centre ter a 4000m2+ building possessed by the company. Our team recently met with Lulea Energi and confirmed thesis low prices and that the necessary supply is available. By the way, it will be 100 procent Green Energy (mostly hydro and some wind).
If you don’t reach your Hard Cap, will you still build Miner One and mine bitcoin?
Yes, wij will build Miner One even if wij don’t reach our Hard Cap during the Crowdsale. It will be enough if wij reach our Soft Cap of Three,000 ETH.
How do wij know you will accurately report what Miner One mines? How do wij know you won’t secretly keep some for yourselves?
Wij are committed to transparency and will provide every Miner One Community Member with a monthly report of output and costs so anyone can check whether our numbers add up. A instrumentenbord wij are developing will showcase ter real time the total number of miners operating, total BTC mined daily and other gegevens that can be independently checked. Wij will also conduct regular outward audits and make those reports available to Community Members (i.e., Miner One Token Holders).
Will switches te cryptocurrency prices affect the ondergrens purchase amount?
Wij established the ondergrens ter ETH te mid-January for orientation. At amounts less than that, transaction costs substantially eat into your investment.
You switched the conditions since the pre-ICO and enlargened the Hard Cap. Won’t this diminish the value of the MIO Tokens I got during the pre-ICO?
Your token value won’t be diminished by a higher Hard Cap. Switches since the pre-ICO only increase benefits for MIO Token Holders. Wij raised the Hard Cap ter order to increase the amount of hardware and, therefore, the potential for mining more output to distribute. Economies of scale mean extra savings – again, more output to distribute. And wij have are making MIO Tokens valid for the entire life of the project with a project to continuously upgrade equipment – again, more output to distribute. Te brief, a larger number of MIO Tokens does not mean a smaller share or any less benefits. And the longer life of the project means a higher-value MIO Token. Please read the updated White Paper to get the details on how all MIO Token Holders will benefit.
So if I participated te the pre-ICO, my share wasn’t diluted when you enlargened the hard cap?
MIO Tokens are not shares ter a company. They represent your contribution to the project and entitle you to your respective share te the output. If the mining facility is built with 100 million instead of 30 million, there will be that much more mining going on and therefore more output. 1000 MIO doesn’t get you any less output just because the facility is thicker. Te fact, economies of scale mean you will even get exponentially more than you would if the facility wasgoed smaller.
How do wij check your background and confirm the legitimacy of Miner One? Where is Miner One located?
Miner One FZE is registered and operating te RAK FTZ Business Park (a Special Economic Zone) te Ras alhoewel Khaimah (RAK), United Arab Emirates (UAE). The company’s registration number is RAKFTZA-FZE-4012910. A company ter Sweden has also bot established to provide necessary services. Spil for our team, you can find us all on Linkedin and other online directories. Wij are real and reputable people who are respected ter our fields and communities. Wij all have a stake ter the success of Miner One, including the support team.
What will toebijten if the Crowdsale is not a success? Will my investment be refunded or will I lose this money?
Wij have a relatively modest ondergrens objective, or Soft Cap of Three,000 ETH for the Crowdsale. Ter the unlikely case that wij do not reach that objective, payments made will be refunded to all ICO participants. Pre-ICO participants will not receive refunds, spil they have bot clearly informed.
How do wij know wij can trust your accounting and reporting on costs and output? Who will independently control and oversee Miner One accounting and operations?
Detailed accounting reports on costs and output will be provided and can be checked by anyone. Wij also project to have outer audits at regular intervals with reports provided. The long-term success of Miner One depends on maintaining trust, and wij take that very gravely.
Are you worried about the potential upcoming reduction of network fees due to the Lightning Network? Are you taking that into consideration?
Lightning Network has bot around for a few years now. Wij don’t expect it will have a major influence on Miner One operations.
What effect will SegWit2x have on Miner One?
It’s hard to predict its effect, but the main thing SegWit2x does is increase the speed of transactions processing on the BTC network. If it results te a fresh fork, it will decrease difficulty and wij will have one more possible currency to mine.
Isn’t 80 procent of BTC already mined?
It’s true that around 80 procent of total possible BTC has bot mined. But that means about Four.1 million BTC left to mine and that is still slew, esp. spil difficulty increases and prizes are diminished. To do it profitably spil this happens you will need specialised miners and ultra-low-cost electrical play like Miner One will have. It is estimated that wij can mine BTC through 2024, so there’s still slew of time. Wij can also little by little switch to other currencies using the 23 procent of netwerken output dedicated to equipment upgrades.
How do wij know your calculations are juist?
The reason wij are putting them all online is so that anyone could check them and ask us questions. Please note that the calculations are a good faith estimate, not a promise or obligation. Many factors beyond any single person’s or entity’s control influence mining profitability. But even under current conditions, wij believe wij can produce good comebacks on your investment. Crypto is a very fresh and volatile field, so wij cannot make any promises or predictions – only estimates based on various screenplays.
Wasgoed your brainy contract audited by an independent cybersecurity company?
What if cryptocurrencies crash and you cannot mine profitably?
If mining becomes unprofitable, wij will pause operations. A contingency reserve will voorkant expenses for some idle time. If the situation persists and it becomes unlikely to voorkant costs, a decision may be made to liquidate.
What if equipment is stolen or vandalized?
Wij will have extensive security measures spil well spil insurance to protect against equipment-related losses.
Lulea, Sweden will be the very first Miner One mining centre location? Mind if I check up on that?
By all means, please do. For details, please see the letterteken of intent wij have signed with the lessees for the very first Miner One facility ter Lulea. It’s posted on MinerOne.io along with movie from the webpagina inspection wij recently conducted. Wij are always glad to reaction any questions you may have.
Who is your target market?
Wij are building a broad global community of individuals who want to be a part of the cryptocurrency revolution and love the benefits of crypto mining without the hassles of doing it themselves or paying too much. Wij are reaching out to them through social media and spreading the word online.
Who are the Founders of Miner One?
Our Founders are reputable experts with decades of practice te gegevens centre management, vormgeving and product development, law, administration, and regulatory matters. You can find their bios along with information about the remarkable team they have waterput together on our webstek and te our White Paper.
Are Founders available to response questions?
One of our Founders Jonas Udris is regularly present on our Telegram channel. Wij are scheduling live Q&A sessions with CEO and Co-Founder Pranas Slusnys and others on Telegram and Facebook before and during the Crowdsale. If you would like to address a question to them, you can also send an email to [email protected]
Are you on BitcoinTalk?
Why don’t you have more Telegram followers/community members?
While Telegram is valuable and significant for live interaction, wij believe our ICO Waiting List is the most significant indicator of rente. For the current total number of members, please see the vuurlijn pagina of our webstek.
Do MIO Tokens entitle us to a say ter Miner One decisions?
MIO Tokens are not shares ter a company and so they do not entitle Holders to a formal role ter decision-making. Wij will, however, be regularly surveying Community Members for their terugkoppeling and taking it into consideration.
Can I help you with marketing?
Yes! Please help us spread the word among people you know who might be interested. If you are a marketing agency or consultant, wij welcome your proposal. Please send it to [email protected]
Do I need to use the B-Wallet to hold MIO and get MIO Payouts?
No, MIO can be held and payouts received te any ERC20 token-compatible wallet. The B-Wallet will have extra features that provide information about Miner One operations.
When will the B-Wallet be available?
By July 2018 – te time for the very first Miner One payouts.
What will the Miner One B-Wallet do?
You can hold your MIO Tokens, your Miner One Payouts, and other cryptocurrency ter your B-Wallet. By holding MIO Tokens ter your B-Wallet, you’ll be able to see the Miner One instrumentenbord that shows you information about Miner One operations te te real time.
What kinds of cryptocurrency can I store on the B-Wallet?
The Miner One B-wallet will accomodate all major cryptocurrencies. The precies list will be available soon.
So B-Wallet is an ERC20 wallet. But what if I want to convert my earnings to EUR? Do I need to transfer them to an exchange’s ETH wallet again?
Wij will support ERC20 with our own solution for the ongezouten exchange of ETH to EUR using the B-Wallet.
And the MIO debit card will let mij make purchases and withdrawals with what I hold te my B-Wallet? It will exchange my cryptocurrency to fiat currency automatically?
Yes, that’s keurig.
Will I be able to deactivate the MIO debit card from the B-Wallet te case of loss or theft?
The MIO card will have a number of security measures to prevent fraud and theft. Details are being finalised and will be published soon.
Do you have any more information about the Miner One Debit Card? I see other major companies focused on this only and after one year and their cards are not yet on the market. Do you have any agreements with card services providers? How certain are you that the Miner One Debit Card will be available by August, spil specified te the White Paper?
Wij are doing our utmost to make the Miner One debit card option available spil quickly spil possible and will share the details spil soon spil they are finalised. Wij are presently ter discussions with several card providers and cannot disclose the names at the ogenblik due to a non-disclosure agreement. But wij will announce this spil soon the final overeenkomst is finalised.
Is there or will there be a mobile app?
Yes, wij will have a mobile “Miner One B-Wallet” app. It will work on iOS and Android.
Could I have a listig to your B-Wallet github repo?
It will be available soon.
Is the Miner One B-Wallet compatible with WALLETH Ethereum Wallet alpha?
Yes, the B-Wallet will be compatible with WALLETH Ethereum Wallet alpha.
What do the Founders earn from Miner One?
Ten procent of MIO Tokens are reserved for our Founders. They will earn whatever share of output their MIO Tokens provide, just like other Miner One Community Members. Regular staff required to maintain Miner One will be paid salaries at normal market rates. A total accounting of thesis costs will be provided to all Community Members on a regular voet. Wij do not expect basic operating/maintenance costs to exceed 4–5 procent of monthly output.
Why is Miner One registered ter the United Arab Emirates (UAE)?
UAE is a crypto-friendly jurisdiction and our CEO is a resident. Wij have also set up a company ter Sweden called and are te the process of finalising it.
What about taxes? Aren’t they very high ter Sweden? Where is Miner One based?
Miner One is based te Ras reeds Khaimah, UAE, where profit taxes are 0 procent. Our Swedish company will pay whatever is due ter Sweden. Thesis costs will all be reported to MIO Token Holders.
Is Miner One registered with the Securities and Exchange Commission (SEC) of the United States?
There is no way to register an ICO with the SEC at this time.
What is the utter address of Miner One corporate headquarters?
RAK FTZ Business Park
Hoewel Nakheel, Ras ofschoon Khaimah, UAE
Ras ofschoon Khaimah, UAE
Is Miner One registered te Dubai?
No, Miner One is headquartered ter Ras hoewel Khaimah. Dubai is another of the United Arab Emirates (UAE).
What taxes will Miner One have to pay?
Miner One is headquartered te a Special Economic Zone te Ras nu Khaimah, United Arab Emirates (UAE), where profit tax is zero. Our Swedish company will pay taxes te Sweden on whatever is required by Swedish law. By the way, energy tax incentives ter Sweden mean almost no tax on the ultra-low-cost energy there. Depending on the origin of the equipment, it may be subject to invoer duties, but since the mining centre will be te the EU, equipment coming from EU countries or free-trade countries will be duty-free. Because Miner One will be running on an industrial scale, an invoer Value Added Tax (VAT) will be refunded. It is significant to note that MIO Token Holders are solely responsible for any tax obligations arising from holding, exchanging, or selling MIO Tokens and from receiving Miner One payouts.
Do you need to have a licence to mine cryptocurrency te Sweden?
You do not need a licence for crypto mining activities te Sweden. A company is being registered to treat operations there.