The Mining Token AMA Transcript

The Mining Token aims to transform the entire Proof of Work mining into a 100% decentralized process from the investment to the obtaining of the profits and thus break down the barriers imposed by Proof of Work mining

By
BSCNews
on
July 31, 2021
Category:
AMA

Andrew (BSC.News):

Hi everyone and welcome to the AMA with The Mining Token! Today we have Head Miner joining us. Thanks for being here today to answer some questions about your platform. @TMT_HeadMiner  🙂

TMT - Head Miner:

Hi everyone!

Andrew (BSC.News):

Hey!

TMT - Head Miner:

Thanks for the opportunity of this incredible AMA

I'm glad to be here

Andrew (BSC.News):

So how this will work is the AMA will consist of two rounds. The first round will be us going over the questions that I have collected. And in the second round I will open the room up to the community for them to ask their questions. From there you can pick 2 questions that you'd like to answer and they will be the winners of our giveaway

Of course! Thank you for being here

TMT - Head Miner:

Excellent! Sounds great

Andrew (BSC.News):

Okay great


1. To start things off can you briefly introduce yourself? Tell us about what you do at The Mining Token.


TMT - Head Miner:

I’m Head Miner from The Token Mining. I’m CMO in charge of Marketing and partnerships. Like the rest of the team, we have been working with cryptocurrencies since 2017 when we realized that blockchain is the future

Andrew (BSC.News):

Oh great! When you say "we" have you been with the same team since then?

TMT - Head Miner:

We have worked in differnt projects together and also each of us separately. Buy all of us since 2017 approximately

By us I mean the whole team of TMT

Andrew (BSC.News):

Ah gotcha, so none the less, a very experienced team

TMT - Head Miner:

Yes we are!

Andrew (BSC.News):

Awesome


2. What is The Mining Token and what is the overall mission/goal of this project?


TMT - Head Miner:

The Mining Token ($ TMT) was born, so as to transform the entire Proof of Work mining into a 100% decentralized process from the investment to the obtaining of the profits and thus break down the barriers imposed by Proof of Work mining. Our Audience is DeFi investors who want to invest in a sustainable investment with REAL things being done. The investors will profit from ETH mining and this is great news.   We are aiming to decentralize the mining protocols. All these conditions make TMT able to provide very attractive returns for the investor

Andrew (BSC.News):

Okay great, so from what I got from previous conversations with your team is that there is a lot to unpack so let me ask this follow up question


3. What is $TMT and how does it work to mine Ethereum?


TMT - Head Miner:

$TMT is our Utility token. By holding $TMT you are being part of our community and will be rewarded with the Ethereum earnings produced by the mining power. TMT does not have inflationary pools like other tokens. Our pools only generate ETH directly from our mining rigs. $TMT is only minted at MTOs (Mining Token Offerings - Presales) 

All Ethereum rewards produced by the power of mining will be distributed in 3 different pools according to what your preference is...

This makes TMT a real sustainable project over time since there will alway be a relationship of 1TMT = 1Megahash of power mining!

Andrew (BSC.News):

Okay so you are saying that $TMT can actually mine ETH by holding?

TMT - Head Miner:

By holding TMT you will be able to receive always the amount of Etheruem mined

Andrew (BSC.News):

Gotcha

TMT - Head Miner:

always 1TMT will be equeal as 1 Megahash of power mining

Andrew (BSC.News):


4. And can you give us the tokenomics behind $TMT?


TMT - Head Miner:

$TMT is only minted at MTOs (Mining Token Offerings - Presales) where we accurately mint the exact amount of $TMT equivalent to the new amount of mining power (MHs) that can be purchased with the investment gathered in the MTO. Thus, not diluting the mining power a $TMT token holds, even after minting new tokens. 

Given $TMT equates to a specific and constant amount of mining power (MHs - Mega Hashes), every $TMT token (in the same pool) will always reward the same amount of Ethereum. And as previously explained, this will not change even after multiple MTOs. 

TMT charges a fee of 10% from all mined Ethereum that will be used to cover the cost of installations, deposits, refrigeration machines, profits, Marketing, and mainly the cost of electricity.

Initial Supply: 4,861 TMT

Presale: 4278 TMT

Locked Liquidity: 583 TMT

The liquidity will be locked for 3 months and will never be put into staking. After $TMT has been consolidated the liquidity will be burned in order to give all holders the exact and full rentability.

Andrew (BSC.News):

Okay wow so very very few amount of tokens

How much do you expect the token price to be at launch?

TMT - Head Miner:

Pre-Sale Price: 35.06 BUSD = 1 TMT

Launch Price: 38.59 BUSD = 1TMT

The Pre-Sale price will be a 10% discount compared to the launch price.

Andrew (BSC.News):

Understood

and just to simplify things for myself, how much ethereum can users earn if they bought for example 100 $TMT?

Sorry, not too knowledgeable when it comes to mining and the statistics behind it

TMT - Head Miner:

assuming no one else buys and sells TMT after the pre-sale they will be able to have an APR close to 47%

That gives me the entrance to talk about what happens if people buy and sell with the APR! Very good question!

Andrew (BSC.News):

Okay yeah that is very neat


5. What are the mechanisms that allow you to mine ethereum from $TMT tokens that have been staked?


For example, how does staking $TMT translate into actually mining ethereum?


TMT - Head Miner:

I will talk about this afterward. It is very interesting! 😉

Andrew (BSC.News):

Haha sorry, getting a bit ahead of myself. But please go on

TMT - Head Miner:

Love it!

Eth is being mined daily by our mining rigs located at our datacenter. These ETH are constantly being sent to each of the pools according to the given allocation per pool. A holder’s share of $TMT in a pool is used to calculate the amount of ETH that will be rewarded to that user.

Andrew (BSC.News):

Okay I see, so it is not that the mining rigs are powered by $TMT but rather holders are rewarded with ETH?

TMT - Head Miner:

Exactly!

Andrew (BSC.News):

ok gotcha, please continue 🙂

TMT - Head Miner:

There is going to be a moment when you will have recovered your investment with the earned ETH and also you will now have a daily income! And don't forget about the $TMT tokens you will still have!!

Here is the process:

TMT - Head Miner:

Exactly! And always with the same relationship of 1TMT=1Megahash of power mining

Andrew (BSC.News):

Understood, thanks for that clarification!

So this next questions was one that I am very interested to hear


6. Why should users utilize $TMT to mine ethereum when they can mine it themselves?


TMT - Head Miner:

Because we are building an Ethereum mining center to ensure the best profitability     of the entire DeFi ecosystem. In a classic Ethereum mining business, once you buy a whole mining rig to start with, it is very difficult to get out because you will need to sell all the used components, something that is not that easy and you will lose part of the investment by selling them cheap.

Here is a comparison with Mining by yourself, cloud mining and The Mining Token

Andrew (BSC.News):

In my opinion, I could see how using the mining token would grant easier access for the everyday DeFi user into mining

Rather than having to set it up themselves and having that long term commitment and expenses that come with solo mining

TMT - Head Miner:

Here is the same comparison explaind in our medium post

https://medium.com/@theminingtoken/the-mining-token-best-features-acd519e511fb

Exactly!

Buy whenever you want — > Mine as long as you want — > Exit whenever you need

Also, you should have in mind that with TMT there will come a time when you recover your investment with the ETH you earned and you will still have a continuous ETH income and the $TMT that you haven’t sell!

Andrew (BSC.News):

And Im assuming that like all businesses, solo mining eth would not be very profitable for a few years, unless we see a massive run up of eth price correct?

TMT - Head Miner:

And you will be stuck into it until the end, you can't sell them easily

Andrew (BSC.News):

Exactly


7. Can you explain more about your 3 different pool options? How are they different from one another?


TMT - Head Miner:

Sure

All Ethereum rewards produced by the power of mining will be distributed in 3 different pools according to what your preference is:

Flex Pool: Perfect for those go are not sure about Ethereum mining business and prefer to earn a little less in exchange for having their tokens available all the time

30 Days Locked Pool: Perfect for those who are in the mining business for the medium-long term so they have no problem leaving their tokens in staking for longer periods.

TMT - BUSD LP Pool: Designed to reward those who want to add liquidity to the project and make it even more stable

You can check all of them at our website https://app.theminingtoken.com/

Andrew (BSC.News):

And all three pools are rewarded with eth correct?

TMT - Head Miner:

Exactly! That's right

Andrew (BSC.News):

Wonderful

Andrew (BSC.News):

Moving on...


8. With so many security concerns within the BSC ecosystem, how are you able to tell users that your platform is safe?


TMT - Head Miner:

Safety is priority  # 1 for us. We have immediate Audit plans in our Road Map. Investor safety and confidence is priority # 1.

Also, the most important thing here is that all funds are safe in the blockchain, that is not something we must worry about. Remember that the website is just a pretty face, and all the hard work is on the backend and in the blockchain. Also we have partnered with many legit projects in order to give extra confidence to our community! 

About Mining security:

Miner-Centric Business model: Our reward system is backed by mined eth, allowing us to offer high yields without compromising the token’s integrity or price. No need to mint infinite tokens to feed unsustainable stake pools!

Managed Risk: We mine $ETH in strategic low-cost locations. Having a mining pool reduces costs and in addition to that, we operate in the Binance Smart Chain, giving us access to the lowest fees in the ecosystem.

Minery: We take care of the mining process from beginning to end so that you don’t have to worry about anything other than receiving your income daily. Mining has never been so easy and profitable as it is now.

Andrew (BSC.News):

Got it, thank you for that clarification


9. Are there other use cases for $TMT?


TMT - Head Miner:

After being well established and diversified in every country, we will expand our service to be able to offer all Bitcoin lovers the best option to mine safely with all the advantages that TMT offers. But we don't stay here. We are going to analyze the market looking for new opportunities to mine and keep operations running. TMT is the key to decentralized mining.

Andrew (BSC.News):

Oh wow so plans to expand into bitcoin mining in the future?

TMT - Head Miner:

That's right! Let me show you our Road Map

Andrew (BSC.News,:

Wonderful

And last but not least

TMT - Head Miner:

We are planing to expand our mining center into at least to different country more to take advantage of the good things each of this countries have! And by Q2 2022 we are aiming to start mining BTC for Bitcoin lovers!

Andrew (BSC.News):

That's awesome!

Very neat that you will have mining centers all over the world

TMT - Head Miner:

You can take a look at this in our docs:

Andrew (BSC.News):

Great, go check that out

So I know that you have some exciting news you'd like to share with us

so last but not least


10. Do you have any news you would like to inform us about today?


TMT - Head Miner:

OUR FIRST MTO IS TODAY! 10 PM UTC at our platform:

Just 1 hour left!! Be ready for it that this will be HUGEE!!

🚀🔥⛏💎🔥🚀

General information MTO:

Date and time: July 30th TODAY!  Place: here

Amount to be raised: 150,000 BUSD

Pre-Sale Price: 35.06 BUSD = 1 TMT

Launch Price: 38.59 BUSD = 1TMT

The Pre-Sale price will be at a 10% discount compared to the launch price.

Andrew (BSC.News):

Very exciting!

And before we conclude the first round of the AMA, can you drop a link to your social media accounts that our community can go give a follow?

TMT - Head Miner:

🌐 Website:

🐦Twitter:

🔥 Telegram:

📖 Medium:

📚Docs:

Feel free to join us guys!

You will get to know the best community!

Andrew:

Yes! Go check out the links that he has posted and thank you once again for joining us. Have a great day everyone. 

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