First Thoughts on Enwy.

Emily News just began a “Silver” listing for the Enwy. It’s a new program and has been online for around three weeks. They are involved with cloud mining of cryptocurrencies. According to the website, “The modern platform for cloud mining Enwy.io. A unique service that allows you to extract popular crypto-currencies with power distribution and complete process control.” Unfortunately, this explanation of the program is translated from Russian (I think) and it isn’t very clear.

I confess to being unfamiliar with the process of cloud mining and so, in an effort to help me better understand what’s going on in the website, I did a bit of research. Following is what I found on Wikipedia. Perhaps a few of you will find it to be as helpful as it was to me.

Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner. There are many cloud mining scams.

Types of Hosting

Users of hosted Mining equipment can either lease a physical mining server or a Virtual private server and install mining software on the machine. Instead of leasing a dedicated server, some services offer hashing power hosted in data centers for sale denominated in Gigahash/seconds (GH/s); Users either select a desired amount of hashing power and a period for the contract or in some cases can trade their hashing power.

Pros and Cons

There are several advantages over the normal home-mining.

Pros:
• A Quiet and cooler home
• Lower electricity usage
• no need to manage the equipment – no need to repair and no need to configure the hardware

Cons:
• Management Cost – cost for the maintenance of the equipment
• Lack of control – most providers don’t offer the possibility for one to choose their desired mining pool
• Security – some cloud mining service providers have turned out to be Ponzi schemes

Enwy offers a single investment plan. It is a perpetual plan that doesn’t return your principal. Or, to put it another way, you can say that your principal is returned as part of your earnings.

The percentage yield of the investment plan is given on the “Calculation” page of the website. The interest paid increases from 2% per day for investments under 149 gigahash/sec (gh/s) up to 4% for investments over 1,000,000 gh/s. These numbers might sound high. However, the conversion given on this page is $1 = 100 gh/s. This aspect of the chart confused me for a while as I don’t understand why the chart doesn’t simply list the dollar cost of the hashing power that an investor is purchasing. On another website I found the chart translated into dollars. I guess someone else shared my confusion. Here’s that translation:

2% per day with a contribution up to 1.49 $
2.2% per day with a contribution of $ 1.5 – $ 4.99
2.4% per day with a contribution of $ 5 – $ 24.99
2.6% per day with a contribution of $ 25 – $ 99.99
2.8% per day with a contribution of $ 100 – $ 249.99
3% per day with a contribution of $ 250 – $ 499.99
3.2% per day with a contribution of $ 500 – $ 999.99
3.4% per day with a contribution of $ 1000 – $ 2499.99
3.6% per day with a contribution of $ 2500 – $ 4999.99
3.8% per day with a contribution of $ 5000 – $ 9999.99
4% per day with a contribution from 10000 $

I have no idea why the word “contribution” was used rather that the more common words “deposit” or “investment.”
One thing that jumps out at you when viewing this chart is that the level of investment required to participate in this program is very low.  I suspect that a great many investors will make deposits at the 3% (or maybe greater) levels.

To use the calculator on the “Calculation” page, you enter the amount of DOLLARS you would like to invest.  Following that, the level of the chart corresponding to the gh/s level of that dollar amount will light up. The result of the calculation for one, 10, 30, 100, and 365 days then appears on the “Calculation” box at the bottom of the page.

When I do a review of Enwy in a few days, I will provide further explanation of the investment plan and make a complete analysis of its profitability. I hope to also offer further insights as to how the program works. There are still a number of fuzzy areas in my mind. Please stand by…

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