Frequently asked
questions

WHAT IS BITCOIN?

Bitcoin is an internet payment network and type of cryptocurrency. The main uniqueness of Bitcoin is its full decentralisation; it is designed so that no one, neither the author, groups or governments, can influence the currency, counterfeit it, seize accounts, control the money flow or cause inflation. There is no central point in the network, nor is there anyone who can make decisions about the network. The final amount of Bitcoins is known in advance and the release of Bitcoins into circulation is defined in the protocol source code.

WHY BITCOIN?

In macro, we’re always searching the globe for interesting possibilities. There are a handful of opportunities that occur every three to four years, such as Russian privatisation, Argentine agriculture, or electric cars.

Disruptive technology is often referred to as a category killer. Bitcoin goes above that. It will pass across 40+ different industries including storage, cross-border money flow, property titles, voting rights, and identification, which are some of the most important use cases on the planet. It already holds $600 billion in wealth and for almost 15 years, has performed magnificently. It has never been counterfeited or hacked and has never failed in any way.

Bitcoin is aiming for the big fish. For comparison, gold has a $7 trillion market size and the total value of all cryptocurrencies is just over $1 trillion. There is a massive potential for crypto.

WHAT IS BITCOIN MINING?

Bitcoin mining is the process of collecting Bitcoins by verifying transactions and adding them to the blockchain. It is an expensive and intensive process but using computing power, you can earn cryptocurrency without having to purchase it.

Think about how banks work – they charge a fee to send and receive transactions. With Bitcoin mining, you can function like a bank by approving transactions through automated systems and receive a financial reward in the form of Bitcoin while supporting the financial infrastructure of the future.

WHY BITCOIN MINING?

Without Bitcoin mining, people can’t transfer Bitcoins. Financially, you make more money by mining Bitcoin compared to buying it.

WILL BITCOIN BE WORTH $1,000,000 ONE DAY?

Most industry experts believe this is very likely and when you understand the design of Bitcoin, you can see why. Every 4 years has shown a Bitcoin halving event, initiating the start of another bull run with higher highs and lows. We believe that Bitcoin reaching $1,000,000 is just a matter of time.

WHAT IS A MINING POOL?

A mining pool is a groundbreaking invention in the world of cryptocurrency. By using a shared system, each miner gets a portion based on how much they have contributed and this dramatically increases the efficiency of mining. Each pool is a network that together forms one big supercomputer and ensures that rewards are paid out regularly. The mining is fairly distributed according to the exact performance.

DOES THE BITCOIN EXCHANGE RATE AFFECT THE PRICE OF MINING MACHINES?

Yes. The prices of machines are always valid for a maximum of 24 hours and we can only guarantee their price once the amount is credited to our account.

WHAT INFORMATION DO YOU NEED TO CREATE A CONTRACT AND ORDER A MINER?

We will need your first and last name, date of birth, place of residence, email address, and crypto wallet number.

HOW SOON IS THE MACHINE DELIVERED AND CONNECTED?

It depends on what machine you are buying. If the machine is already in hosting, its price will be higher than the machines at the manufacturer, but the connection will be immediate upon receipt of payment. The average delivery time for new machines is within 30 days after payment but depends on the manufacturer and the carrier. For this reason, we are unable to guarantee deadlines, however, the wiring time is faster than 30 days.

IS THE ENERGY PRICE FIXED?

Yes, it is fixed for 1 year from the time of engagement. We usually submit a bid for the next year within 2 months before the current contract expires.

WHAT DOES THE SIZE OF THE ROYALTY DEPAND ON?

Bitcoin mining offers no guarantees. Profit is based on the price of Bitcoin, the price of energy and the difficulty of mining.

IS IT POSSIBLE TO STOP MINING OR MOVE THE MACHINE?

Yes, and there are several options.

1. Sell your machine. In this case we undertake to provide the same service to the new owner of the machine. We can help you to sell your machine.
2. Disconnect the machine. When the service contract expires, you can disconnect the machine and send it to another host site or your home. However, due to its noisiness, high operating temperature and the need for specialised service, we do not recommend this. Other negative aspects are the economic ones. Our host sites are always in locations with excess grid power and use renewable energy sources. Therefore, we can offer an unbeatable price for energy. It is not possible to disconnect the machine and store it on the host site.

HOW DO I GET PAID?

The payout of the harvest is done automatically to the wallet chosen by the client. You can change this wallet at any time via your personal trading expert. We do not take a commission of the rewards; we send it directly from the pool to the client.

HOW DOES AUTOMATIC CONVERSION TO BTC WORK ON L7 MINING MACHINES?

Mining on L7 machines works by using a cloud-based mining service that automatically converts the mined cryptocurrency to BTC. This can be a convenient way to mine Bitcoin without having to worry about the technical details of mining or the volatility of the cryptocurrency market.

WHO PAYS FOR REPAIRS?

Clients are required to pay for all repairs on their machines.

CAN I MONITOR THE PERFORMANCE OF MY MINING MACHINES?

Yes, you get 24/7 access to monitor the mining with unique login details.

WHAT IS THE REASON FOR FLUCTUATIONS IN HASHRATE MINING?

This is a completely normal phenomenon; the mining calculation process never has a stable output.  Mining is affected by the condition of the machine, the mining environment, the stability of the network and many other factors. In order to maintain the most stable earnings, it is necessary to consider as many of the above factors as possible.

HOW MUCH WILL THE MINER PRODUCE IN ITS LIFETIME?

The machines we purchase are brand new and under warranty from the manufacturer. We strive to achieve the longest possible machine life through care and maintenance. Currently, the life expectancy is expected to be somewhere between 6-10 years. We are able to extend this life by about 4 years by cooling in mineral oil etc. The payback is determined by several factors: the difficulty of mining, the price of BTC, halving, and the average hash rate performance of your machine.

IS THE MINING MACHINE UNDER WARRANTY?

All of our machines are new and come with a one-year manufacturer’s warranty.

WHAT IS NOT GUARANTEED IN THE SERVICE?

The cryptocurrency exchange rate, difficulty of mining, and the associated annual earnings can vary.

WHO TAKES CARE OF THE MINING MACHINE AND HOW?

Based on a signed “Service Contract” with our company, we undertake monitoring 365 days a year. This includes maintenance, restarts, monthly cleaning, negotiation of lower energy prices for the next year, fault reporting and subsequent resolution.

WHAT HAPPENS IF BITCOIN LOSES ITS VALUE?

BTC is a long-term store of value, so most clients mine it, hold it and wait for a more favourable exchange rate.

Mining has to be profitable in the long run, otherwise BTC transactions would have no one to “count” it (mining principle) and the Bitcoins would disappear. Currently, most of the machines in the network are outdated with much lower performance than what we offer in our portfolio. It is the older, less powerful machines that would be the first to disconnect and that would mean only one thing – a noticeable drop in mining difficulty, and with it, a higher return on your machines. This is the main advantage of combining the most powerful machines with cheap energy.