In a nutshell Terraminer’s TRM tokens will be backed by Cryptocurrency Mining power, your token will represent a share of Terraminers mining power. They claim:
We are oﬀering an opportunity to earn money oﬀ of mining without ever having to leave your couch, investments starting from 0.01 ethers ($ 2.8).
All income from the mining we share with you 50/50. We take the responsibility for technical process: equipment installation costs, service provision, and issues regarding the warranty and service.
Initially they will be mining Scrypt based coins using ASIC miners which will feature the new high tech Innosilicon Technology A4+ chips, one of the most efficient chips on the market, cooling will be achieved by ‘Dry Water’ technology. Chips are placed into an oil bath allowing a power increase of upto 4Mhz/s. All mining will be carried out on the NiceHash mining service . NiceHash pays out the highest profits for mining on the SCRYPT algorithm at this present time, all payouts are in Bitcoin.
Most of the following information has been dissected from TerraMiners Whitepaper:
1 TerraMiner (TRM) = 1 Megahash per second (Mh/s) of mining farm power.
Token price formation:
- The PRE-ICO token price is 1 TRM = $2.8: the cost price of component parts and the assembly of the ﬁrst ASIC miners’ batch.
- The ICO token price is 1 TRM = $5: the cost price of component parts and the assembly of the second ASIC miners’ batch, the rental fees, the premise preparation costs, the cost of installment and launch of equipment.
- The POST-ICO token price is 1 TRM = $8.4: the sale cost for the ready capacity
1 TRM = 1 mh/s of mining equipment power.
The proﬁt is shared 50/50
After the project launch, TerraMiner (TRM) tokens will be placed on cryptocurrency exchange. Every month 10% of founders’ proﬁt will go to buy out TRM tokens in order to provide a possibility for token owners to exit the mining if desired, as well as to create deﬁcit and increase TRM rate.
We take on all production and energy consumption costs.
Reliability of the project
- Our TerraMiner tokens are backed with real mining equipment.
- You are welcome to visit our farm and see preparations in October 2017 to be sure of our intentions.
- We have signed agreements on supply and production of equipment (see Documents section).
The contract between STIGL LTD and INNOSILICON Technology LTD. We conclude a contract for the pledge of mining equipment for tokens buying more than $10,000.
The concept of buying tokens which represent mining power is a great way to keep the required mining process alive and as decentralised as possible. By allowing anyone to buy as small a share in the mining power as possible decentralisation is pushed ever forward.
I personally wouldn’t invest a huge sum of funds into this project at this point, i’d prefer to wait until the company get the service up and running, but if you have a little spare ether kicking around it maybe worth a throwing it this way to see what pops out the other end.
As usual, this is not trading advice just personal opinion and observation of the ICO in question. Always base any investment made on your own research and opinion.
For those interested in the ICO visit the TerraMiner Website.
BitcoinTalk – https://bitcointalk.org/index.php?topic=2174329.msg21801195#msg21801195
Twitter – https://twitter.com/terraminer_ico
Facebook – https://www.facebook.com/terraminer
Disclaimer: Statements contained within this post do not represent the views or policies of anyone other than the writer. The information contained within this article is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.