Bitcoin was mined successfully for the first time in 2009. And over the 12 years that the process has existed, the process has changed monumentally. Initially, any node (computer participating in the mining process) could be anything from the average PC with spare computing resources to an advanced GPU device.
As the process evolves, the rudimentary devices mentioned here above have since been replaced by more specialized tools with better mining efficiency. The evolution has sidelined the most willing participants, ridding the process of the democratic approach that the Bitcoin code writers envisioned. Instead, they have been replaced these machines with a profit-oriented, capital intensive method comprising of devices with elaborate computing capabilities.
The challenge highlighted here above coupled with the massive electricity that the mining process demands is quickly making the process a preserve of only the entrepreneurs that can raise the requisite capital. The good news, however, is that this situation is changing, thanks to Thomas Norberg, a Russian-born businessman whose business idea has blossomed into a startup with innovative and user-friendly approached to crypto mining.
The startup, Miny, is a Hong Kong-based cloud Bitcoin mining business with an easy approach to the entire process of mining Bitcoin.
Thomas Norberg, the Man, the Innovator
Thomas was born in Russia. He spent his childhood and most of his school days in his native country only moving to Sweden later for his postgraduate degree in business. After graduating with a Master’s degree International Business Management, he explored the world and chanced about the blockchain and the intriguing world of cryptocurrencies.
He has been involved in the industry for more than 8 years. He started by trading crypto back when not many people knew what the coins were about. Then, about a couple of years ago, he took part in various ICOs and made a decent return from his forays.
Despite gaining so much from the industry, Thomas is acutely aware of the challenges plaguing the industry. Particularly, he has been unsettled by the governance nature or lack of it thereof, in the cryptocurrency space. Importantly, he has always advocated for sustainable approaches to mining of cryptocurrency.
His waddling in the crypto mining space is both a chance to do honest business but is also an attempt at infusing his ideas into a space that is very needy. The nature of Miny and its approach to cryptocurrency mining is testimony to this statement.
Miny.cc – The Unique Cloud Mining Platform
To demonstrate the unique nature of Miny’s approach to cloud mining, it is important to look at the various revenue streams it presents in detail. It is critical to not that the platform did not join the industry to trash the achievements of its peers, rather, to provide an approach that is unique and has numerous earning streams.
The platform has a cloud mining platform that is simple and easy to use. Devoid of the elaborate paperwork common with every other cloud mining platform, Miny has a universal plan that is easy to join. Any member who creates and account and makes a deposit can share the platform’s proceeds of mining as long as they have converted the deposited crypto into MINY tokens.
The proceeds are divided amongst the members depending on the amount a user stakes. Overall, the returns range between 10% and 19% of the money deposited, per month.
Aside from earning through sharing the proceeds of the platform’s mining activity, Miny users can also make money by buying and holding the MINY tokens. The cryptocurrency is made in such a way that a portion of it burns every time a transaction is completed successfully on the platform.
The nature of the coin means that over time, the amount in circulation reduces. However, since the demand for the coin is set to increase, the value of the coins held by a user surges over time. Platform users can choose to exchange the coins for other cryptocurrencies or fiat after the value increases. In the process, they get to make decent profits.
Users who enjoy a large online following can also convert this resource into revenue. Miny has an affiliate program that allows members to earn commissions for bringing new users. The program is unique in that after the regular fourth line, users can still open some more lines and fill these with the referrals from the individuals in their downlines. Overall, the platform pays commissions for all referrals up to the 20th line.
It is important to note that Thomas Norberg’s approach is not just about mining and profits. Rather, the underlying objective is to make the entire industry better and sustainable. This is the reason why Miny’s mining farm is located in Hong Kong. The region’s experiment with environment-friendly renewable energy points to the direction that the industry is taking.
More information about Thomas Norberg and his unique approach to cryptocurrency mining is available here.
Disclaimer: This is a paid post and should not be taken as news/advice.
The post Hong Kong’s Crypto Mining Startup that is Improving the Cryptocurrency Mining Space appeared first on AMBCrypto.
Hong Kong’s Crypto Mining Startup that is Improving the Cryptocurrency Mining Space written by Akshay KS @ https://eng.ambcrypto.com/hong-kongs-crypto-mining-startup-that-is-improving-the-cryptocurrency-mining-space/ September 15, 2020 Akshay KS