{"id":2888,"date":"2018-01-05T05:02:45","date_gmt":"2018-01-05T05:02:45","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=2888"},"modified":"2018-01-06T03:54:05","modified_gmt":"2018-01-06T03:54:05","slug":"world-mining-review-part-1","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=2888","title":{"rendered":"World Mining — Review Part 1"},"content":{"rendered":"

World Mining Introduction.<\/strong><\/p>\n

In our \u201cFirst Thoughts\u201d article about World Mining<\/a> (that you can read here<\/a>), we first reviewed information about the company that was provided in their website and then provided a few brief remarks about the five investment plans that they offer.\u00a0 Here is what I said about the company\u2026<\/p>\n

World Mining<\/a> has been in business since early in 2017 and, as the name of the company implies, is involved with cryptocurrency mining.\u00a0 They are located in England and officially incorporated in October of this year.\u00a0 According to their website,\u00a0World Mining<\/a>\u00a0\u201cleases servers of different capacities on rent. Our customers are able to choose the power and speed of the leased server, calculate its profitability, payback period of rent, size and net profit.\u201d\u00a0\u00a0World Mining<\/a>\u00a0goes on to say that they own \u201c5 servers with different power type. Your income is calculated according to chosen server, power consumption and speed. You are able to rent a server per certain period: from 9 to 12 months. After the end of the lease term, the transfer of interests on your personal account will be stopped.\u201d\u00a0 So, the idea is that you share in the income generated by these servers; it\u2019s a win-win situation for both the investor and\u00a0World Mining<\/a>.<\/p><\/blockquote>\n

In the First Thoughts<\/a> article, I noted that the investment plans use two \u201cvocabularies\u201d side by side in describing them.\u00a0 One vocabulary deals with computer terminology; the other deals with dollars and cents.\u00a0 I have a feeling that the money-based vocabulary will be more understandable to the majority of EmilyNews<\/em> readers (it is to me!), so that\u2019s what I\u2019ll use in what follows.\u00a0 Now, let\u2019s take a closer look at these investment plans.<\/p>\n

<\/a><\/p>\n

World Mining Investment Plans.<\/strong><\/p>\n

Here is the information about them as given in the World Mining<\/a> website:<\/p>\n

S1
\n324%\/period
\n27%\/month
\n0.9% – 1.1%\/day
\n360 days
\n$15 – $2,025<\/p>\n

S2
\n348%\/period
\n29%\/month
\n0.96% – 1.16%\/day
\n360 days
\n$150 – $7,500<\/p>\n

S3
\n289%\/period
\n31%\/month
\n1.03% – 1.23%\/day
\n280 days
\n$900 – $15,000<\/p>\n

S4
\n329%\/period
\n34%\/month
\n1.13% – 1.33%\/day
\n290 days
\n$4,500 – $150,000<\/p>\n

S5
\n390%\/period
\n39%\/month
\n1.3% – 1.5%\/day
\n300 days
\n$30,000 – $300,000<\/p>\n

OK, let\u2019s try to clarify a few points about these investment plans.\u00a0 First of all, take a look at the fourth item for each of the plans, the lengths of the investment periods.\u00a0 They range from 280 days to 360 days — a year if you think of a month as being 30 days long.\u00a0 All of them are certainly long-term plans.\u00a0 In fact, one wonders why there is even a need for World Mining<\/a> to have long-term plans with such close term lengths.\u00a0 Wouldn\u2019t it be a LOT simpler to just make ALL the plans 360 days long?\u00a0 But, maybe there is some high-tech reason behind the length of the plans that we aren\u2019t aware of\u2026<\/p>\n

Now let\u2019s take a look at the interest rate that is given for each plan.\u00a0 Actually, it is given in THREE forms where certainly one would be enough.\u00a0 Let\u2019s look at the S1 plan as an example.\u00a0 The third entry for this plan above says that it pays between 0.9% and 1.1% per day.\u00a0 Well, if you use the lowest value, 0.9%, multiply it by 30 days, you get the monthly interest of 27% paid by the plan.\u00a0 Assuming that the daily interest varies as indicated, this would be the LOW LIMIT for interest on a monthly basis.\u00a0 Likewise, if you multiply 0.9% by the length of the investment period, 360 days, you get 324%, the first entry on the list for the S1 plan — the total interest for the period.\u00a0 Again, since this is based on the lowest daily interest rate, it would be the LOW LIMIT of interest to expect for the period.\u00a0 So, after going through all this you have to ask yourself:<\/p>\n