Hello everyone, this new post I want to introduce about a very interesting and good project that is Egold Minning, and for more details, let's just go to the following discussion:
What is eGold Mining?
eGold Mining is a community of people who want to mine cryptocurrency by combining resources to achieve savings on cutting-edge equipment, professional maintenance, and ultra-low-cost electricity. We are conducting a Token Sale to build the largest crowdfunded crypto mining operation in the world. The eGold Mining token will be the eGM Token.
Once eGold Mining is operational, eGM token holders will share the net profits based on the G-points they have accumulated.
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Why eGold Mining?
Unmatched benefits which no other competitor can provide
50% of the net profit is shared with token holders every month, six months, and year depending on accumulated G-points and the length of time the eGM tokens were held. Payouts will be in ETH via smart contracts.
eGM is taking proper steps to comply with all security laws set by the United States government. The goal is to be the first US-based profit sharing company in the mining industry. eGM plans to operate legally under South Dakota, USA jurisdiction.
Being a registered company in the United States allows for security of investment compared to similar companies around the world. eGold Mining’s official business entity registration can be found here.
Cheap Electricity Rates
The electricity costs for eGold Mining is under 4.5 cents per kWh with all additional cost factors included. eGM has the cheapest electrical costs of all profit-sharing mining companies.
Opposed to traditional profit sharing methods, eGM rewards investors through a point system referred to as ‘G-point’. The G-point system is there to reward long-term token holders the most.
Unlike Cloud Mining, eGM does not require the purchase of contracts or hash power to receive mining profits. Profits are shared by simply holding eGM tokens and accumulating G-points.
How it Works?
You simply have to buy eGM tokens and hold them in an ERC20 private wallet (we recommend Metamask). Holding these tokens allows you to accumulate G-points every day. You compete with others to see who can accumulate the most G-points and earn the largest share of the profits! Learn how G-points are calculated here.
eGM greatly incentivizes long term token holders as the longer they hold, the higher profit share they receive. This is made possible by the payout structure below.
Short Term Holders
- Dividends paid every month
- G-points reset every month
- 25% profit share
- Must hold tokens for full month to receive profit share
Long Term Holders
- Dividends paid every six months
- G-points reset every six months
- 15% profit share
- Must hold tokens for at least three months to receive profit share
- Dividends paid every year
- G-points never reset
- 10% profit share
- Must hold tokens for at least six months to receive profit share
EGM is a token with payouts that entitles the token holders to a percentage of the net profits of the mining, cloud mining, and hosting operations. Profits will be paid out on a monthly basis allowing regular people to reap the benefits of cryptocurrency mining.
Initial Token Offering (ITO)
The purpose of the ITO is to raise enough funds to cover the startup cost of the operation. It is also to distribute eGM tokens to token purchasers so they can start earning a share of the mining profits. The eGM token plays a pivotal role in receiving your share of the mined cryptocurrencies.
There will be 25 million eGM tokens in total. 20 million tokens will be available to the public through the pre-sale & ITO and the other 5 million tokens will be distributed amongst the directors and advisors.
The directors will be held in an escrow wallet for two years and they cannot sell more than 50% of their tokens per year thereforth. They must break that 50% into monthly sells (4.16% per month) and report the sale of their tokens for our monthly public accounting reports.
After a four year period, the directors are allowed to freely sell all their eGM tokens one week after reporting their intent of sale. Advisors can sell all their tokens after two years of holding but must report the intent of sale to the company first.
There are three softcaps for the project: $8 million, $12 million, and $20 million. The first softcap is the minimum amount needed to start a profitable operation.
The second softcap is the amount required to meet the projections set under ‘Projections and Return on Investment’, below.
The third softcap is the amount required to buy land, build a warehouse, invest in more s, and buy more ASIC miners.
With a larger startup amount, we will be able to eliminate many future expenses and will be able to purchase more s to back eGM tokens.
The price per token will be determined at the completion of the ITO. The reason for this is the bonus from the presale and referral program that must be calculated into the overall price of the eGM token.
ITO Budget Requirements and Allocation
- Soft Cap 1 = $8m
- Soft Cap 2 = $12m
- Soft Cap 3 = $20m
- Hard Cap = $50m
- Calculations are based on 8/02/2018 mining difficulty (subject to change)
- Calculations are based on Soft Cap 2
- Energy rates ~ 4.5c/kWh
- Energy costs are subject to change based on the market for Natural Gas
- Energy rate will range between 4c-4.5c/kWh
To get more relevant details from the Egold Minning project or join social media and sales crowds, please follow some sources for the following references:
Bitcointalk username: Sinseykoin