Stakes are high, when the launch of private sale is just a week away for Miner Edge which claims that it would be the biggest crypto mining facility if materialized and that’s possible only if the ICO succeeds to generate the amount expected by the budding enterprise.
The proposed project has been able to garner positive reviews from most the analysts so far, however, it would be decided by the investors when the private sale goes live.
“We are eagerly waiting for the moment of truth, our team has put all the possible efforts to make this project successful. I am sure that people would agree to the fact that Miner Edge is a grander, more efficient and promising than any other mining project introduced before.”
As the time is inching close, speculations are on a rise. Everyone seems to pass their own judgment to the new project.
Mr. Handa unveiled the basics behind Miner Edge and gave a detailed description of the modus operandi of the project. Let’s delve into the niceties of Miner Edge project and try to find out if there are any odds underlying the bright proposal.
How is Miner Edge different from the other mining projects?
Miner Edge is a community of able and like-minded people who want to works towards the advancement of cryptocurrency and blockchain. This project gives them a chance to quench their thirst, apart from this, we have solid grounds in terms of the locations where we are going to conduct our operations. We are registered in Belarus, which has legalized cryptocurrency and we will start mining in Manitoba Canada which is one of the coldest regions in the world, backed with abundant supply of low-cost and efficient green electricity.
What are the benefits Miner Edge is giving out?
Benefits are only generated when a project succeeds and a project succeeds with a sound performance by its team. Besides that, if there’s any adverse situation which could hinder the growth, that has to be counteracted skillfully. In case of Miner Edge, we are very thankful to the governments of Canada and Belarus, that they have bestowed us with their land and legality respectively.
Since we have the best team and favorable conditions that every entrepreneur wish for, I’m sure that we would be able to generate great benefits as a result of our elevated production. From an investor’s standpoint, when I gauge the Miner Edge I am simply not able to find any shortcoming which could impact high returns.
What’s the overall strategy of Miner Edge?
Miner Edge’s strategy is very simple and straightforward:
1) Raise funds.
2) Utilizing those funds to acquire the best mining equipment and other necessities at the lowest possible prices.
3) Setting up the mining rigs in the suitable and secured facilities in Canada.
4) Posting biweeklies to Miner Edge community with the accurate report of our production excluding the electricity, basic operating/maintenance costs.
What makes Miner Edge the “World’s biggest crowdfunded crypto mining operation”?
It’s the Miner Edge’s vision to become the world’s largest crowdfunded crypto mining facility. The enormous investment, flawless planning, perfect execution and a crypto-friendly environment for mining forms the basis of this claim. We are quite sure that a community of contributors and a team of experts can make this dream come true.
Why did you choose ICO as a means of funding Miner Edge?
ICO has become the most accessible and far-reaching means of investment. It has the power to expound your project to the whole world and people from the remotest corner of the globe can participate with the help of cryptocurrency.
What is the target for mining? How many coins do you plan to mine each day?
The primary goal is to mine 60,000 tokens in ETH during the crowd sale. Post the crowd sale, from April 15 2018 our best estimate is that we will be able to mine more or less 60 BTC/day. This is an estimate based on the conditions that we have, however this number should not be taken for granted, as the mining process depends on a number of factors, many beyond our control, including mining difficulties. Please consider it as an estimate and not a guarantee.
Which cryptocurrencies will Miner Edge mine?
Miner Edge will start with five major cryptocurrencies which are currently most popular due to their extensive practice.
As an investor, how much can I expect from Miner Edge?
As I have mentioned earlier, Miner Edge has left no stone unturned to make sure the production skyrockets and the returns are high. However, there is a good deal of factors involved which might impact the mining of coins consequently affecting the returns. Crypto market is still expanding and there could be ups and downs without any prior inkling. Although, Miner Edge is ready to face any downturn and hoping for a positive trend in market.
Your estimation is based on the bitcoin price of USD 14,000, what if it goes down?
As per our calculation, Miner Edge can mine profitably under the broad range of BTC values. There are potential reasons behind this which are mentioned in our whitepaper, I request you to please go through it.
If the mining difficulties increase, will the returns cease to be as high as 12.5%?
There is a reverse theory which sets the things right for us here. If the difficulties increase and hit the Bitcoin USD currency exchange rate, it will surely reduce the profitability. But at the same time, it will give the room for the other coins to thrive, thus making the situation even for the market.
Is 12.5 percent per month a capped amount for the returns?
Absolutely not, there is no capping on the amount of return. 12.5% is the best amount for return that we can anticipate, it could be lower or higher as well depending on the idiosyncrasies of the market.
What are the taxes that I have to pay on METs and Miner Edge payout?
I’m afraid none of us have the relevant knowledge to answer the question, I request you to contact a tax consultant. To my knowledge, Miner Edge payouts will be perceived under cryptocurrency regulations and they would be considered taxable only when you bring them to exchange into fiat currency.
Will the Miner Edge mining facility be built from the scratch or you’re leasing it?
We are starting with a leased building, but the building will be adapted and equipment will bought, installed and maintained by Miner Edge. We definitely have an option to expand as well as construct additional buildings in the vicinity.
When will the mining take place?
Mining starts within 3-5 months of meeting the soft cap during the crowd sale.
How come it takes 3-5 months for mining to start?
Equipments must be shipped and installed once the building is prepared with proper ventilation, and safety and security measures. We will start mining as soon as we have rigs setups as we all are keen to get the payouts.
Do you have your own mining equipment?
We have some equipments for testing, once the crowd sale is over, we’ll spend 90% of its proceeds to purchase the necessary mining hardware. Software development, licensing, research and development altogether will take 6% and, administrative and legal expenses will have 4%. The first order for hardware will be placed as soon as Miner Edge reaches its soft cap during the crowd sale.
Is it true that the hardware suppliers have run out of the machines and demands are not met? Will you be able to buy the hardware under such circumstances?
Miner Edge will be ordering in a bulk quantity, the volume which we will order, set off a competition among the hardware suppliers. They prefer to have one large order instead of multiple small ones. That’s the reason, mining at such a big level means so much to many people related to crypto mining and trading.
Have you already talked to the suppliers regarding the purchase and are you getting them at wholesale price?
We are trying to get the best price for the rigs, we are already in talks with several manufacturers and suppliers. We’ll clinch the deal once the crowd sale soft cap is met.
Is there a rough estimate of the expected monthly electricity costs of your mining facility in Canada that you can provide?
That totally depends on the precise number of miners we deploy. We will have access to one of the lowest electricity rates in world there. And the energy we’ll be using is 100% green energy.
What is your plan for expansion?
Our expansion plan involves scattering the mining units in different locations, if necessary, we are ready to setup a rig in another country if we find it as suitable as Canada.
Sounds like a great plan, but how do we know you can deliver? Who will be responsible for the execution of your plans?
We have a team which consists of top-notch professionals of their domain and who have handled numerous projects. Each one of them is a equally capable of spearheading a project like Miner Edge. However, being a CEO, I Rakesh Handa take the onus of delivering what we promise to our prospective community members.
We hope that you’ve got an insight to the Miner Edge project, the private sale is all set to be rolled out on 1st June 2018. Share the post with your friends and tell us what you think about Miner Edge.
Join Miner Edge Community : https://www.mineredge.io/