Russian Miner Coin ICO Raising $100 Million to Defeat Chinese Bitcoin Mining

[lannocc]

Planned $100 Million ICO a Challenge to Chinese Mining

Big news here as Russian Miner Coin, a company co-owned by one of President Vladimir Putin's internet advisers, plans to raise as much as $100 million through bitcoin or ethereum in an upcoming ICO for RMC tokens. They will be utilizing specialized Russian-designed semiconductor chips and taking advantage of 20 gigawatts of excess power capacity in a region where the consumer electricity prices are less than in China. The initial plans are to locate mining computers based on the Bitfury chips in individual Russian households as a direct challenge to Bitmain.

RMC Tokens to Have Rights to 18% Mining Revenue

These new Russian Miner Coin tokens will have rights to 18 percent of the revenue earned from the company's mining. $10 million from the ICO proceeds may be spent developing the new processors by Bitfury Group.

ICO Pre-Sale Closes in 19 Days

Visit these links for more details:

• http://rmc.one
• https://www.bloomberg.com/news/articles/2017-08-08/putin-s-aide-seeks-100-million-to-rival-china-in-bitcoin-mining

Comments

[precision]

What... An ICO to rival Bitcoin mining... for $100 million dollars?

[lannocc]

As I understand it, more like an investment in Bitcoin mining... for Russia's benefit, to compete with the Chinese effort.

[hehohahaha]

Do know how can we invest?

[lannocc]

I have confirmed that August 28 is when the ICO begins. I also received these additional details:

1. You will be able to buy RMC tokens from Mycelium wallet the day before the start of ICO.
2. Mycelium app works only for Android devices.
3. The first batch of Sunrise s11i miners will appear end of September (1,000 items), next batch will be 6 months later. A total number - 110,000 miners per year.
4. Sunrise miner processing power is 22.6 Th/s. It is equipped with a safety chip. During its operation 80% hashrate will go to the owner, 2% - to the company, 18% - to the RMC joint mining club which will distribute the dividends between the token holders according to the number of tokens they have. Payments from RMC joint mining club will be made after reaching max value for transaction - 0.05 BTC, no more than 4 times a day. Sunrise mines ONLY BTC.
5. Multiclet miner will be ready in 13 months, you can get it only by exchanging it for 1 token (1 token=1 Multiclet miner). It does not have a safety chip. Multiclet mines ALL ALTCOINS.
6. The approximate processing power of Multiclet miner will be 5 Gh/s for Ethash algorithm (consuming 1 kW), 650 kH/s for CryptoNight algorithm.
7. Rent for those who would like to locate the miners in our datacenter will be 1000 rub ($16,8) per month + electricity 3.15 rub ($0.05 for 1 kW). You can pay with BTC or fiat money. This payment can not be deducted from dividends. 8. Dealers will provide warranty services for the miners. More info about dealers and their terms will appear on the website a bit later.
   If dealers can't fix the miner within 2 days after breakdown, they compensate the costs (starting from day 3)
   If miner is in the data center, breakdowns will be fixed in 1 day.

[lannocc]

It is my understanding they are currently pre-ICO phase. I marked in my calendar August 28 for the ICO but I cannot find a specific date any more. There's a basic timeline here: http://t2p.pw/D7YZcvJ13p

[tuventure]

It's good pure free market economics. That is true bitcoin philosophy at its best.
Compared to NATO (No Action Talk Only) groups of people/troll that only can write in their twitter stating that mining is monopolised by China or Chinese miners.

If Greenland suddenly has ten mining pools at the top ten, will people say it is monopolised by evil Greeland? No they will say it's smart management of Greenland's tech industry.

Let's Occupy Wall Street by simply - buying bitcoins (since we aren't capable of mining).

[lannocc]

Agreed. Mining will naturally coalesce where the resources are best suited. I am however looking forward to more diversification of the mining operations.

[duncan-idaho]

Hello. Any news about sunrise s11i miners? I see them to buy for 1600USD. Can i pay in btc for that? Can i collocate it in datacenter?

[ixoiru]

Wow, look at that. Not to be left out.

[brattley85]

Thanks for sharing. Should have a Look in this

[lannocc]

Thanks for reading!

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[hrhabibur]

Thanks for sharing