This program has STOPPED paying! Do not invest there!
Introduction.
We just began a “Gold” listing for ETHMine on the EmilyNews monitor. This is a brand-new online company, as they just launched their program a few days ago on February 27. The company is incorporated in Hong Kong and operates cryptocurrency mining facilities in Iceland. This appears to be one of the best locations in the world for this activity as all power on Iceland is from renewable energy sources (and that means it is relatively cheap!) and, of course, Iceland is cold. Aside from the initial outlay for hardware, power and a cooling are the major operating costs for cryptocurrency mining.
As you might expect from its name, the company has something to do with the mining of Ethereum. They actually claim to mine “Ether.” I had not been familiar with this term. However, in a very informative “White Paper” that you can refer to on the website, it is explained that:
Ether is the digital that “fuels” the Ethereum system, and is the second most valuable coin on the crypto market as of 02 February, 2018. While no-one owns the Ethereum system, there are fees involved in operating it, and Ether is the currency that pays these fees and allows for the computational processes to occur. The cost of transactions is measured in a unit called “gas”, which measures how much “work” is involved in processing something on the system. Gas costs are paid in Ether, giving the asset a real utility that is fundamental to the system.
All this still isn’t completely clear to me, but it is enough to enable me to understand that Ether is somehow the basis of Ethereum, an altcoin that most people are familiar with now. For the interested person, there is a lot on information available online about Ether. One link is:
https://www.ethereum.org/ether
The opening statement on that site is:
Ether is a necessary element — a fuel — for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources).
In the brief introductory video on the home page of ETHMine, the speaker even quotes from this statement!
The ETHMine Investment Plans.
ETHMine offers three investment plans. They are very easy to understand. In fact, you might even say that there is only a single investment plan with an interest rate that increases as your deposit increases. All three of the plans pay interest daily and run for a full year, at which time you can request the return of your deposit. However, you can also request your deposit AT ANY TIME with only a 5% penalty. So, contrary to most long-term investment plans, the length of these investment plans is really up to the investor. That’s a very neat perk which eliminates the nail biting that is usually associated with waiting to recover one’s deposit at the end of an investment plan. You still DO have to think about this issue. But, it is up to you as to how long you have to commit to the program. I spoke to the online chat person and she was knowledgeable and helpful and indicated that the 5% fee also applies to withdrawing your deposit at the end of the one-year period.
Here is the website info on the three investment plans:
Starter
2.6%/day
$10 – $4,999.99
Advanced
2.8%/day
$5,000 – $19,999.99
Superior
3.00%/day
$20, 000 and up
The minimum investments required for the Advanced and Superior contracts are rather high and I don’t expect that many online investors will be able to afford them. In fact, we would not advise investing in ANY expensive online investment plan, such as the Superior plan offered by ETHMine, unless a LOT more verifiable information is given about the company. So, for all practical purposes, most investors will use the Starter plan. But, who knows? If ETHMine demonstrates that it is a reliable investment platform, maybe it will attract a goodly number of investors to its Advanced program as well.
OK, since all these investment plans return your deposit at their conclusion (or sooner, if you want it), your daily earnings are profit — assuming the program doesn’t suddenly close while you have an investment in place. So, your daily earnings ate what we refer to as daily NET interest or DNI.
Referring back to HYIP Insights #12, we suggested that programs having investment plans with DNIs greater than 2% might have difficulty being sustainable in the long-term. Well, all of the ETHMine investment plans are in this range and, although nothing is for sure, the relatively high returns promised by ETHMine might put the survival of the overall program at risk. As I have indicated on previous occasions, 2% daily profit comes to 14% profit per week. That’s quite a bit. The 2.6% daily profit of the Starter plan comes to 18.2% per week. That’s a LOT! Getting close to 20% per week! But, anything can happen in the HYIP game. And, we would certainly like our skepticism to be proven wrong.
Let’s make a quick check on how long it will take the Starter plan to break even. To do this you simply divide 100% by the percent you recover every day. In this case it calculates out to around 39 days, around 5-1/2 weeks (100/2.6). After that, for the rest of the year, all your earnings are profit. The breakeven points for the Advanced and Superior plans would be even quicker.
Conclusions.
ETHMine is a new online investment company that claims to be involved with the mining of a cryptocurrency called Ether. They offer three one-year investment plans that pay daily interest and also permit the withdrawal of your initial deposit at any time. Although the interest rates offered are not obscenely high, they are substantial. An investor could make a good deal of money with this company but should be wary concerning its long-term survivability.
We hope this information is helpful. Good Luck!
*********************************
If one of the paying programs on our Monitor appeals to you, please support EmilyNews by registering for it on our website. Thanks very very much!
*********************************
Be the first to get most important HYIP news everyday!
Simply Follow EN Facebook, EN Telegram, EN Twitter
or Subscribe to EN Feedburner and submit your email address!
If you like this article, please share it by using the social media buttons below.
