I.Have.An.IDEA! (EobotMiningCoin)


#1

Hey guys. I have recently retouched Eobot’s cloud mining products, as they seem to have done the thing i was waiting for, introduced a new WAY better option then previously. I am considering making a crowd funded asset, EOBOTMININGCOIN. actually i have created the asset already, at https://www.coinprism.com/account/addresses/1K7wnZeWQREUzqkhN779LzouddyzmgucDF
https://www.coinprism.info/asset/ALbKb1pJV3s35XDM4mysvVq1LyeMR7FMcC
My ideas for this coin are in early beta and as follows:

1: A 100% transparent crowd funded asset that would be used for purchase of as much as possible of Eobot’s new “Cloud 2.0” 5 year contracts with current ROI of 13.7 months.

2: This contract would not PRIMARILY be for profit, but rather the options of either BTC payment or an alt coin payment (decided as a group by all paid investors by a system yet to be determined). Who knows what coins they may add in the future? :smile:

3: I am thinking as its a direct, non-refundable, 5 year contract, the bigger we go the bigger dividends to all investors. my current calculations sit at 10BTC would buy 4,379.36 GHS for 5 years, paid in dividends depending on your contribution to the “pot”

4: The coins will be issued upon the date of purchase of the contract. They will be valid for the entire length of the contract (5 years) and no less.

I will update this thread as i find more info, and if users decide to start contributing to the pot, the BTC address for the Mining Coin is 1K7wnZeWQREUzqkhN779LzouddyzmgucDF . I have not decided how many coins will be produced naturally as this is an early idea (maybe investors could decide as a whole also when the time comes) but anyone who contributes will recieve ONE “EOBOTMININGCOIN” each 0.01 . Post your color aware asset address in the thread for delivery of your coins (non-activated till the day we all decide). i figure if it gets to a large pot i will just have a larger number of total coins and each member will get a number based on their percentage contributed, which will naturally entile them to larger dividends (as per coin) , also in a payment schedule we decide at later date (EOBOT pays anyitme instantly so we can choose whenever we want, and even decide as a group to change THAT decision later )

UPDATES:

EMC has naturally settled around to be sensibly 0.01 BTC. This amount is equal to ONE EMC coin (EobotMiningCoin) and is non-divisable. This value will not change and the coins are free for the owners to do wish as they please (Trade/Sell/Buy/Burn)

The Funds will be Xfered to Eobot for sake of building up and ease of transparency

We will mine strickly BTC till positive ROI (currently 13.7 months) unless a consensus of investors agrees to choose another coin or a diversify option.

All dividends will be paid to investors on a daily to be decided time in a system of pay-per-% of pot system. This amount will be: The EXACT amount Eobot reads in BTC in the Crowd-Funded Acoount (Eobot User Account # 220178 (EobotMiningCoin) at 12 PM Pacific TIme daily.

I have created a brand new Eobot account and hotmail account for this project. Eobot User #220178 will be considered the “EobotMiningAccount” and belong in equal parts of all investors.

All Decisions for this account , what coins to mine, possibilty of PoS wallets, any other account decisions will be the decision of all paid investors in equal part, and NOT solely of me.

EobotMiningCoin : https://www.coinprism.info/asset/ALbKb1pJV3s35XDM4mysvVq1LyeMR7FMcC
EobotMiningCoin Account # 220178 https://www.eobot.com/user/220178

THIS THREAD IS NOW CLOSED>WE HAVE MOVED TO LAUNCH AT EMC - Eobot Mining Coin (SCAM - CjMapope ran with the money)


EMC - Eobot Mining Coin (SCAM - CjMapope ran with the money)
#2

What s Eobot cloud 2.0?

I remeber Eobot offering some software to install on your machine and mine during the old days. What s new about this?


#3

2.0 is their second generation of hardware. Second generation to THEM not in the mining scene. The first gen is/was S2’s, they are now running S5’s.


#4

@CjMapope

New and unique assets are always a good thing. I would however advise against basing an asset around one company or service, doing so always invites trouble.

I know this idea is still in beta, but could you provide some thoughts on what and how you would take advantage of the altcoins they allow you to “mine”?
Will you be creating a basket of altcoins and hold the alts in coldstorage to be sold off if/when the price is right?


#5

So 10 EMC would cost 0.01 BTC right? So effectively you would issue 10k EMC to get to your limit to buy the EOBOT shares


#6

This brings up another question. What about dividends. The minimum amount that coinprism supports is 600 satoshis, anything less and the asset holders wont see the divs.
Is this price/coin high enough that dividends per coin will be worth paying?


#7

Check your PM’s @CjMapope


#8

Yes was thinking about that too. It makes no sense to divide the asset too small so that payouts would be below that 600 sats. I think 1 EMC / 10GHS would be the limit. Are those daily payouts or weekly payouts?


#9

I have a question, what is the difference between this and buying the equiv. GH at Hashnest? From the store you can get 1155 GH for $366, while EOBOT is saying 1000GH would be $500. Did I miss something?
Not to mention you’re locked into a contract. Or can you mine whatever pool you want with it? (Not familiar with EOBOT, just made an account to check out pricing just now).

EDIT: “Choose payout in any displayed cryptocurrency.” That answers the one question kind of.


#10

The bonus with eobot is that they let you “mine” several different coins. You can also choose to “mine” multiple coins on a rotating schedule.


#11

Ah, I see. I was going to throw a little GH on it, but… the website isn’t cooperating with me to allow me to buy it.

So, perhaps I’ll buy a few coins instead. :stuck_out_tongue:


#12

If @CjMapope really wants to do this, it might be better to do it like we have setup with DMT, make each coin a piece of the whole pie and not tied to any specific hashpower. Eobot has a min of 0.0005btc for deposits, no need to worry about raising a set amount of funds before it goes live.


#13

While they do have their own software, they also give you info to mine with local hardware, you can choose to “mine” any of the coins they support, that includes GHS, so you can point your local hardware at them and convert that work into ghs that should be good for the 5 years.


#14

That’s what I like about it. I can point my gridseeds there and earn a little on a 5 year contract. You can also take the cloud mining and point it at other pools too i believe


#15

I see a problem with this. Meaning people really don’t know how to predict this will turn out. Having a fixed conversion rate from asset to GHs will let people make more simpler predictions of how it’s evolving.


#16

If he does anything with the altcoins, a fixed hashpower means nothing.

There is also the fact that anyone can signup with eobot and make a deposit. The benefit for something like this has to be some sort of growth of your initial investment, otherwise its not worth investing in. I again advise against basing any asset on any 1 company or service, very bad things.


#17

ok i just got up and today i will work on all concerns and questions.
Yes, we COULD use the eobot account itself to stack the coins until purchase, and i can just send the assets accordinly as tokens until set date (i will have to make a fresh eobot account for this)
The altcoins we mine will be of the concensus of all coin holders. i DO see maybe complications agreeing upon what to do with the altcoins, so we will have to decide that, maybe start with just BTC, or i am open to those who throw in making the suggestions of which coins we choose as yes, eobot has added a “diversifiy” option that allows switching every 10 mins to whichever coins we choose, so start suggesting those i will make a list of most popular suggestions.
yes @Daffy 10EMC=0.01 BTC, tho i am wondering if it will become too diluted, would having 10,000 coins or more in the end be a bad thing? as long as their divided by contribution i dont see a problem but @rdyoung is more of the expert on that hahah
As for dividends, we will stack the account until everyone who wants in is in and we KNOW the dividend will be MORE than 600 shatoshi. i am doin more of the math today and figuring.
The difference in Eobot over Hashnest will be the flat maintence fee. whatever mines at a set time each day will be divided, Eobot takes it off the top so we wont ever have to worry about deducting maintence. Also the option of altcoins is nice.
And NO, Eobot is NOT offering custom pools for the 5 years, so we will strickly be using the coins they offer and the “diversify” option.
The way i see it is a bit more simple. How ever much we raise, diviends will be bigger. This is long term, it will take their ROI to profit, but then we are all left with option after that, we could even just leave it with BTC till the project ROI’s, then decide from there.
The main thing for me for this to work is i only see it feasable with a large amount of BTC, and theres about ZERO liquidation, (of course you can sell/trade your assets)
Each coin will have a set value of the pie, but it will be determined what that value will be only once we start the contract to know what we are getting for our funds
Anything else i missed? i am issuing coins this morning.


#18

i am thinkin daily payouts just cause we can. Eobot allows up to 10 withdrawls a day for free, so i will withdrawl to the asset address and dividends from there im thinking :slight_smile:


#19

When you made your calculations update the OP and we’ll see how it goes. Diluting is really a bad thing because the break even will jump up very fast when you do that you really have to find the middle ground.


#20

Daily is good if the amount are not too small and the txfee is in relation to that.