ProMine – Review

This program moved to CLOSED! Do not invest there!

In our recent “First Thoughts” article about ProMine, we summarized the program’s investment plans in the following way:

ProMine offers three investment plans.  I would probably call them medium-term plans as they run from 30 to 60 days long.  Interests paid range from 3.5% all the way up to 6% daily.  It looks like these returns include your investment.  Minimum investments in the three plans are 0.002, 0.1, and 1.0 BTC.  So, at least the first two plans will be doable for the serious online investor.

Here is the complete information on the ProMine investment plans as it appears on their website:

Start Miner
3.5%/day for 60 days
0.002 – 10 BTC

Cloud Miner
5%/day for 40 days
0.1 – 20 BTC

ASIC Miner
6%/day for 30 days
1 – 100 BTC

Analysis of the ProMine Investment Plans.

Before we can discuss an HYIP’s investment plans intelligently, we need two additional pieces of information about them:

Their breakeven points
The daily net interest that they pay

The meaning of breakeven point is probably clear to you.  But, what do we mean by daily net interest?  First of all, let’s agree to call it “DNI” for short.  Next, remember that “net” means profit.  So, DNI might appear to be the profit that you make from an HYIP on a daily basis.  This isn’t quite right yet because, as you know, the daily profit you earn can vary considerably over the course of an investment plan.  Specifically, your profit is ZERO until you break even.  After that, all your earnings are “pure” profit.  Well, to get DNI you take the TOTAL net profit that an investment plan pays you and then divide it by the number of days in the investment plan to get the AVERAGE daily profit that the plan pays.  I think you can see that this gives us a neat way to compare one investment plan with another.  What can be a better indicator of how profitable (or risky!) an investment plan is than the average percent profit it pays you on a daily basis?

With that as background, let’s begin our analysis of the ProMine investment plans by determining how long it will take them to break even.  This is very simple to do.  You simply divide 100% by the percent interest a plan pays.  For example, in the Start Miner plan, you divide 100% by 3.5% to get that the plan breaks even in around 29 days.  If you do the same arithmetic for the other two plans, you can determine the following break even points for all the ProMine investment plans:

Start Miner.     29 days
Cloud Miner.     20 days
ASIC Miner.     17 days

Now, let’s determine the DNI for the Start Miner investment plan.  Since the plan pays 3.5% gross interest per day for 60 days, multiplying the two numbers together, you get that the plan pays a total gross interest of 210% from start to finish.  Since your investment is returned to you as part of this gross interest, you must subtract 100% from it in order to get the total net interest that you will receive.  In this case, it is 110%.  Finally, as we discussed earlier, if you want to get daily net interest, or DNI, you must average this total out over the length of the investment plan by dividing it by 60, the number of days in the plan.  Doing this, you get a DNI of 1.83%.  If you repeat this same arithmetic for the other two investment plans, you would get the following results:

Start Miner.     DNI = 1.83%
Cloud Miner.     DNI = 2.50%
ASIC Miner.     DNI = 2.67%

Discussion.

Let’s assume that 1 BTC is worth around $6,000.  This implies that the three investment plans have the following minimum investments:

Start Miner.     $12 (.002 x 6,000)
Cloud Miner.     $600 (.1 x 6,000)
ASIC Miner.     $6,000

The Start Miner plan is affordable by anyone and will be the most popular plan of the lot.  Some investors will be able to afford the Cloud Miner plan.  However, few, if any, will buy into the ASIC Miner plan.  In fact, we at EmilyNews recommend against investing large sums of money in ANY online investment plan unless the program can provide documented proof of both its existence and of its past financial performance.  So, let’s restrict our attention to the first two investment plans from now on…

A nice thing about investment plans such as these is that the relatively high gross daily interest that they pay leads to fairly short breakeven points.  The Start Miner plan breaks even in a month of so and the Cloud miner plan breaks even in around three weeks.  Of course, you are receiving earnings from “day one” and therefore your risk decreases as the days and weeks go by.  This is far far superior to the type of investment plan that returns your investment when the plan ends.

Now, let’s see what the DNIs of the two investment plans that we are considering can tell us.  We’ll look at profitability first.  If you multiply DNI by seven, you will get an average weekly profit (rather than daily) that each plan pays.  This is really the same thing.  However, I think more clearly in terms of weeks (that’s how pay checks are issued!) rather than in terms of days.  Doing this we get:

Start Miner.     DNI = 1.83%.     Average weekly profit = 12.8%
Cloud Miner.     DNI = 2.5%.     Average weekly profit = 17.5%

This level of profit is very respectable.  In fact, in HYIP Insights #23, we suggested that a sensible target for weekly profit might be between 5% and 15%.  Implied in this recommendation is that profit more than this might suggest that the long-term survivability of the program is at risk.  In HYIP Insights #12, our suggestion was that the survivability of programs offering investment plans with DNIs higher than 2% might be at risk.  Although the DNI for the Cloud Miner program is higher than this, it is by no means a hopeless situation.  Remember that these are our “suggestions.”  They are not rules cast in concrete.  Perhaps most important, the greater part of the investment activity in the ProMine program will be with the Start Miner investment plan.  This will significantly decrease the obligation the company has for making the higher interest returns that the Cloud Miner plan requires which, in turn, will lead to greater overall health of the ProMine investment program.

Conclusions.

ProMine offers three investment plans.  The highest interest plan has a minimum investment that will probably be beyond the reach of almost all online investors.  The remaining two plans provide returns that are fairly lucrative and that break even relatively fast.  These features should make them attractive to a large number of investors.  The fact that the plans are lucrative also implies that the long-term survivability of the program might be at risk.  However, since most investment activity will be in the lowest interest program, this risk would appear to be lessened.  With wise management practices by the program administrators, this program could be a long-term success.

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