FAQ
Frequently Asked Questions
What exactly is your business model?
Users download and install our platform, which then connects to our “powering network” allowing the user to contribute spare/unused processing power, which we then monetise, for example by dedicating this “hashpower” to blockchain powering (our current monetisation priority).
We give up to 90% of the rewards back to the user and retain the balance for the company, which we will use to help build and give back to our gaming community. This forms our main revenue source.
How will you use the blockchain as a company?
We will use the blockchain as it was originally intended, as a secure, distributed ledger of all activity on our marketplace for transactions between gamers (sale of gaming assets, NFTs etc.). We will also use it to record all individual user and Network Expansion Program hashpower contributions.
Which blockchain will you use?
We will be using the “Hedera Hashgraph Distributed Ledger Technology.”
What is your biggest commercial advantage?
We are a platform that connects existing supply (gamer’s GPUs and CPUs) with existing demand (the need for blockchains to confirm and validate transactions, and generate new blocks – something we term “blockchain powering”).
Because we are the platform we have very low operating costs and the ability to scale massively and very quickly (just like Uber and Airbnb).
Can you please explain your business goal in a few lines?
Our goal is to be the “Uber” of data processing power… the world’s first (and largest) gamer/processing power community and be the platform that connects the vast numbers of gaming computers with the huge (and rapidly growing) demand for processing power from both existing and new sources (like powering blockchain transactions).
The advantage to the gamer is that our next generation, machine learning, monetisation software, combined with the Network Expansion Program means the gamer can passively earn significant rewards. All of which has been validated in our best testing.
We offer a globally distributed, secure, “on-demand”, processing power network.
How big is your market?
There are 1.5 billion gaming PCs in the world and that number is predicted to grow which contain high powered GPUs (ideal for data processing). This represents our “supply”.
On the demand side, rapidly developing technologies assure immense and ongoing demands. These technologies include: artificial intelligence, blockchain, video rendering, AR/VR/MR, holographics, 3d printing, internet of things (IOT), robotic process automation and many more.
Should I buy your GMRX token?
We do not offer any advice on purchase of tokens. Our goal is to build the world’s largest, decentralised, gamer powered, data processing network and community.
Do you have a fixed supply of tokens?
Yes. See website for more details: https://gaimin.io/token/
Will the price of your token rise?
We cannot comment on that. Basic economics dictates that if there is a fixed supply of an item, and the demand for it rises, then the price will rise accordingly. This may apply to our token as well, but this is not something we comment on.
Do you have a working version of your software?
Our platform is currently at MVP (minimum viable product) stage, which follows on from significant beta-testing. Right now our monetisation is focussed primarily on machine learning assisted blockchain transaction confirmations and validations (referred to as mining, or as we prefer “powering blockchains”).
How do you know your machine learning AI software will produce better mining rewards than current mining software if you don't currently have a working version?
Great question. This is how we know. We have been testing blockchain mining in all its forms for well over almost 4 years. The best results we achieved were when we manually spent a huge amount of time each day, personally managing and resetting our software to continually mine the “low hanging fruit” then we flipped those “easy to mine” coins into coins we were more confident in holding long term. The end result was a very significant improvement when compared to the non optimized results we used as our baseline comparison for testing. We produced results way above just “setting and forgetting”. This is what prompted us to look into AI (machine learning), and develop software that would do all the work for us, instead of us doing it ourselves. This is exactly what machine learning does. It uses data to achieve a specific result and learns, improves and optimizes.
The end result is that our software will work even better than the results we personally achieved, and it means a new user will get better results without needing to know anything about mining, or need to actively manage any aspect of the mining.
Can you explain your Network Expansion Program?
Sure. Let me use just blockchain powering (mining) as an example, although the same is true for monetising data processing power via any means, including the video rendering tests we have done. There are two big problems that prevent a user maximizing his earning potential. Firstly the capability to “mine” with maximum efficiency and secondly the fact that he is limited to his own hash power.
Our software solves the first problem and our Network Expansion Program rewards solves the second problem.
If a user refers another gamer (miner) to our network/community then he will receive a percentage of that user’s hash power forever as a “thank you” for helping us expand the powering network. To make the NEP (network expansion program) more interesting, we decided not to give a 30% reward on new miners that a user introduces directly, instead we decided to give 10% on 3 levels.
We believe this very simple “tri-level” reward system will offer our miners the potential to earn significantly more rewards, for simply telling people about us.
Do I need to have a gaming computer (with GPU) to join?
No. It is not needed, but it is obviously much better. GPUs are what make the potential data processing power from the global gaming community so exciting.
Do you have a Telegram channel?
Yes. Here’s the link: https://t.me/officialgaimin
How secure is your software?
Our software is being built by top developers, with quality code, and a huge focus on security. Since day one security is a core principle in every aspect of our project.
You have big goals, are your team capable of achieving them?
We have a very driven team with a lot of successful business experience as well as highly qualified advisors. We are speaking to and hiring experts in each sector of the project and have a road map for long term success.
We are here to build a serious, profitable, long term business that benefits our users and community
What about all the different new possibilities for mining, could they make PoW mining redundant?
Right now, Proof of Work (PoW) and Proof of Stake (PoS) mining easily represent the majority of mining activity.
While innovation is inevitable, it is extremely unlikely that it will make all other mining methods redundant. Each mining method has its advantages and disadvantages, and it is extremely unlikely that PoW and PoS will be displaced anytime soon as the dominant mining methods.
Also we plan to innovate as well as the blockchain ecosystem grows, so we will be prepared for new blockchain powering possibilities to offer our users.
Is your company fully legally compliant?
Yes, we have taken all the necessary legal steps, and will continue to do so. We have a significant budget dedicated to the regulatory side of our business. We are planning to run a very long-term business and we will always be compliant.
We are members of Switzerland’s “Crypto Valley” and have full time staff and advisors who work with our lawyers to ensure we take the necessary legal steps. Both our UK and Swiss lawyers are proud holders of our GMRX tokens, which is an indication of our legal standing.
When do you plan to run a public token sale?
We took a strategic decision to do a full token sale only when we had proven all aspects of our business and had a proven, working platform at MVP stage, something we now have. Accordingly we are right now making all preparations for a token sale before the end of 2021.
Do you have a road map?
Yes, it is on our website: https://gaimin.io/roadmap/
Do you believe there will be future market demand for your project?
Absolutely. Data processing power is the building block of our exciting digital future. Even if we only look at blockchain powering, which is our current monetisation priority… Blockchain’s need miners. No miners (or better said no validation, confirmation and block creation process), means no blockchains.
What is the fastest way for me to get a solid understanding of your project?
Go to the document page on our website, watch the short video overview and download the documentation. https://gaimin.io/documents/
What is the function of your token?
The Gaimin.io “GMRX” token is a hybrid utility token and is the exclusive payment method for access to the Gaimin.io platform.
How will you use the funds you raise from private investment and token sale?
Please see our website for full details: https://gaimin.io/token/
What is the function of your token?
The Gaimin.io “GMRX” token is a hybrid utility token and is the exclusive payment method for access to the Gaimin.io platform.
How will you use the funds you raise from private investment and token sale?
Please see our website for full details: https://gaimin.io/token/
Are you on any exchanges yet?
No. We have targets on our timeline to have the GMRX token available on exchanges. You can always see the latest timeline on our website.
What about competition?
Mining solutions have been available since the very first bitcoin block was mined. There will always be mining solutions. Competition is normal and healthy, the industry cannot grow without it. There will be an insatiable demand for miners (it is hard to even buy a GPU now), especially with mass adoption of blockchain ahead of us. We expect competition and plan to be the market leader in the mining niche we are dedicated to.
What are your plans for a community?
Community is of paramount importance to us. We plan to “gamify” mining within our community and have a significant part of our company revenue dedicated to building and giving back to our gamer/miner community in the form of rewards, prizes, events, sponsorships, crypto, and blockchain education etc. We also plan to sponsor an esports team. The aim is to build a huge, active gaming community, thus ensuring global brand recognition and brand loyalty.
Why do you think gamers would choose to mine with you?
We will offer a 1-click install, they can build their own network which means earnings are no longer limited to personal hash power, no sacrifice for them in their computer performance. It is totally passive, they don’t need to know anything about mining. They get to accumulate high quality cryptos. No reason not to!
Do users receive the actual cryptos they mine?
No. Users let us use their hashpower and then our AI software does it’s magic and mines the low hanging fruit, then it “flips” those mined coins into the top coins for holding. Users then view their balance of these “top” coins and can withdraw them at any time. A miners balance of coins is based on the hashpower he (and his network) has generated.
Does a user have to know anything about mining?
No knowledge of mining is needed at all. The Gaimin platform machine learning technology auto manages all aspects of the mining setup, optimization, and ongoing management. All the user has to do is download and install the software.
What about mining like ASICs, will they not make CPU/GPU mining redundant?
If we use bitcoin as an example, then yes, ASIC mining has taken over. There are however important coins designed to be ASIC resistant (Ethereum, Monero, Vertcoin) because their developers want to resist mining becoming too centralized. We see ASIC as another innovation in crypto mining, and not a threat, this is an industry where each mining solution has its place, and they all help move the industry forward.
You claim that your users can benefit from Proof of Stake, but how, that isn’t possible with GPUs, you need to actually own a stake of the coins?
You are correct. Our plan is to accumulate sufficient stake in the top PoS coins and give these rewards back to our token holders, meaning token holders will indirectly benefit from PoS mining.
Will your software affect gaming performance?
No, this is a key point for our developers. More details on this will follow in our whitepaper.
Where is your company based?
Our company is incorporated in the UK and we are corporate members of the Swiss Crypto Valley Association. We are also in the process of incorporating a Swiss company.
How can I follow your updates?
You can join our newsletter update list, Telegram, and via our social media. Please see website for full details.
Why are you only targeting gamers, other computer users may have GPUs/CPUs that you can use?
We do not exclude non-gamers, and we will be mining with both CPU and GPUs. We are however mainly targeting gamers for the following reasons:
1) They have the ideal computing resources
2) We love gaming
3) Gaming is huge and is a massive growth industry
4) Gamers tend to be crypto savvy
5) They are a market sector that is very easy to reach (very important for marketing campaigns)
6) They already understand and love communities
7) The demographic of gamers means we can get cryptos into the hands of people who can truly move the crypto ecosystem forward
What do you mean when you say you are introducing gamification to crypto mining?
Gamification is a huge trend right now because it works. Gamification is the process of taking something like an app, a game, a process, an online community, and integrating game mechanics into it to motivate the participants, create engagement, and loyalty.
We will motivate gamers to download and install our software, and let it run, not only through the crypto earnings but also via game rewards, tokens, levels, credits etc. for games they are already playing. We are in active discussions with partners right now to make this happen.
In a presentation I saw you mentioned you are riding on the back of six huge trends, what were they?
Yes, they are… 1) Blockchain 2) Gaming 3) Artificial Intelligence 4) Social Referrals 5) Subscription Based Revenue and 6) Gamification.
Each of these trends individually represents big relevant changes in the world. Our project combines them all and we believe this is a key part of what makes Gaimin so exciting.
Will using this software mean I get a huge electric bill?
This is a question we get a lot because many people have preconceptions of mining from either their own experience (or that of a friend) or what they have read online about how much energy mining consumes. And while it is true that “typical” crypto mining is like this, that’s not what we are about. When your pc is mining with the Gaimin platform it will use the same amount of energy as if you were gaming. With us the gaming PC is already turned on because the user is “playing” anyway. We simply run in the background when a user already has his PC turned on.
Will I damage my computer’s GPU if l use the Gaimin platform? I have heard that the voltage and heat from mining can damage my computer and the graphics card?
In a word, no. Our software developer has the long answer to this, which covers things “correct load balancing” and “ensuring we are not overclocking” (overclocking means setting your computer to run at higher levels than it should). To keep it simple, our platform will be just like your computer is gaming, it will not have any more detrimental effect on your computer than if you were simply playing a game. In addition it is very rare that a GPU actually reaches the end of its “life” before a gamer will upgrade it anyway, so this is not a relevant point.
I have quite a bit of experience mining and I cannot get the numbers to work. I do not understand how you can make this profitable as you claim. Can you explain?
We understand. This is a question we receive regularly from people with experience in mining. The key is that we achieve small increases at each point in the process. Let me explain:
- Miner A decides to it it all himself, he uses XXX free mining software and a little management and produces a result of $1 per day (assuming he has acquired the knowledge to do this)
- Miner B joins us. Our software produces just a 50% gain through continual auto-management of all the decisions in the monetisation process, he uses his Network Expansion Program (NEP) referral link and tells some of his gamers friends about us, and just 5 people decide to sign up, which increases his hashpower by 50%These are easily achievable figures.
The new amount he is earning with these very achievable figures are:
$1 (our original amount)
- x 1.5 (add 50% increase for our AI powered monetisation platform)
- x 1.5 (add 50% for his 5 friends joining through his NEP link)
= $2.25 per day (a 225% increase)
More than twice the rewards with ZERO management on his part and all he had to do was share his NEP link with a few people.
That’s how we make this work!
Why is my balance going down?
Your GMRX value will always stay the same, but its worth in USDT might change over time due to the price changes in GMRX.
If let’s say 1 GMRX is 0.1 USDT currently, tomorrow it might be 0.11 USDT or 0.9 USDT. As such, the more GMRX you have, the more the swings will be noticeable.
Does your software contain viruses?
The Gaimin platform does not contain any viruses, but it might get flagged as having them. In short; the Gaimin platform packages miner applications, to perform the mining. And miners are often installed without the user knowing, in which case it’s malware.
If you choose to install this software, you are knowingly installing mining software. In a case where you know that the miner is included, it is not malware. But your antivirus software does not know that you chose to install it, and will still detect it in case you aren’t the one installing it.
In case you need help getting your antivirus to play nice with our software package, please check our VirusScan help page at https://help.gaimin.gg/help/antivirus/ and follow the instructions.
How much can I earn using the Gaimin platform?
This depends on multiple factors, such as your GPU and CPU. These have their own hashrates per mining algorithm. We are using multiple hashrates and the amount mined then depends on the difficulty factor of the mining pool. It also depends on your NEP squad. Accordingly we cannot answer this question – if you wish to find out, mine for 24 hours and see where your balance is. (For information; our beta testing results varied from $10 to $200 per month based on all these factors.)
Why can't I use GPU mining? (iGPU)
If you are using a laptop (most likely) or a desktop with integrated graphics and no dedicated graphics card, you are unable to mine using the Gaimin platform.
As of the writing of this FAQ there is no support for integrated graphics, nor are there any plans to support them in the near future.
Why won't my platform monetise?
There can be several reasons for your platform not mining, below we will list some of the most frequent offenders.
- Your mining applications have been quarantined by your antivirus software. To remedy this, go to https://help.gaimin.gg/help/antivirus/ and follow the instructions.
- Your mining applications are being blocked by your 3rd party firewall.
- You might be using a VPN, known VPNs to cause issues are NordVPN and ExpressVPN.
If your VPN allows it, use split tunneling on the Gaimin plaform and the mining applications. - You are using the mining software from within a VM. Occassionally this might work, but inside certain VM solutions, the mining software cannot take hold of the CPU properly.
These are all situations that occur on your end (except VPN) and we cannot fix. As for the VPN, the mining pools we connect to reject access via certain VPNs, as such, this is also out of our hands.
Can I use my GPUs in SLI to mine? What about Multi-GPU support?
The platform does not support SLI for mining. There are also no plans to support it in the future.
Multi-GPU support is currently sketchy at best, it may or may not work. If it works, it might only mine using the GPU in the non-primary PCIe slot. We are working on a solution.
Where is the Gaimin app installed to? What folders does the Gaimin platform use?
NOTE: All instances where the placeholder <USER> is used, fill in your own windows username.
The Gaimin app is installed at:
C:\Users\<USER>\AppData\Local\Programs\gaimin-platform
Other folders the Gaimin platform uses are:
C:\Users\<USER>\AppData\Local\gaimin-platform-updater
C:\Users\<USER>\AppData\Roaming\gaimin
C:\Users\<USER>\AppData\Roaming\gaimin-platform
But why is the Gaimin platform installed in the appdata folder and not program files?
Because it allows us to not have to ask users to deal with administrator access.
This is nothing weird, as an example, if you disallow Google Chrome installation via UAC it will ask you if you wish to install it under appdata.
Visual Studio Code, Git and Discord are other examples of programs that install into the AppData folder. As such, this can be considered a standard practice.