Frequently Asked Questions
What exactly is your business model?
We charge a small monthly fee for gamers to use our platform (a USD amount paid in GMRX tokens). The fee is deducted from their monthly “earnings” and to start with we “gift” new users an amount of tokens to allow them to begin using the software.
In addition, we retain 10% of all hashpower for the company, which we will use to help build and give back to our gaming community.
In the future, we will also have additional revenue streams from mining pool fees and other commercial deals we have planned.
How will you use the blockchain?
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 add-ons etc.). We will also use it to record all individual user and Network Expansion Program hashpower contributions.
Which blockchain will you use?
We are looking at a few options, and will probably use the EOS public blockchain
What is your biggest commercial advantage?
We are a platform, we connect existing supply (gamer’s GPUs and CPUs) with existing demand (the need for blockchains to confirm and validate transactions, and generate new blocks).
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 model in a few lines?
Of course. Our goal is to be the “Uber” of blockchain miners. We want to the world’s first (and largest) gamer/miner community and be the platform that connects the vast numbers of gaming computers with the huge (and rapidly growing) demand for blockchain miners.
The advantage to the gamer is that our next generation, machine learning, mining software, combined with the Network Expansion Program means the gamer can passively earn significantly more with us than with other options.
The advantages to the blockchain ecosystem are that we offer a globally distributed, secure, mining network.
How big is your market?
There are currently 600 mineable coins (excluding tokens) and they represent approx. 80% of the current crypto transactions on a daily basis which need miners to verify and confirm.
There are 1.2 billion gaming PCs in the world and that number is predicted to grow.
There are also dedicated (pro) miners who can join our mining pools in the future, due to the mining pool dominance.
Should I invest in your token?
We do not offer any investment advice. Our goal is to build the largest, globally distributed blockchain gamer/miner network and community.
Do you have a fixed supply of tokens?
Yes. See website for more details.
Will the price of your token rise?
We cannot comment on that. All we can say is that basic economics dictate that if there is a fixed supply of an item, and the demand for it rises, then the price will rise accordingly.
Do you have a working version of your software?
Almost, we are very close to an MVP (minimum viable product) which our beta tester will be using. We have done our own testing manually (imitating what the AI will do) and results have been exciting!
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 crypto mining in all its forms for well over a year. 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 the results way above just “setting and forgetting”. This is what prompted us to look into 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. There are two big problems that prevent a miner maximizing their earning potential. Firstly the capability to mine with maximum efficiency and secondly the fact that its limited to his/her own hash power.
Our software solves the first problem and our Network Expansion Program rewards and solves the second problem.
If a user refers another gamer (miner) to our network/community then they will receive a percentage of that miners hash power forever as a “thank you” for helping us expand the mining 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 tiers.
We believe this very simple “tri-tiered” reward system will offer our miners the potential to earn significantly more, for simply telling people about us.
Do I need to have a gaming computer (with GPU) to join?
No. We will be mining with GPU and CPU.
Do you have a Telegram channel?
Yes. You can see all the options to stay in touch with us at the foot of any page on our site.
How secure is your software?
Our software is being built by top developers, with quality code, and a huge focus on security. A focus on security is a core principle in every aspect of our project.
You have big goals, is 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 experts in each sector of the project and have a roadmap for long-term success.
We are not here just to promote an ICO, we are here to build a serious, profitable, long-term business, which benefits our users, community and helps advance the blockchain ecosystem.
What about all the different new possibilities for mining, like hashgraph, 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 like hashgraph 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 mining 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 the crypto industry. 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.
You are in Pre-ICO now, when do you plan to run a public ICO?
We will run a TGE (token generation event) when we have proven all aspects of our business and have a proven, working business model.
We believe the industry has been damaged by people running public ICOs to test ideas. That is not what we will do. Our public TGE will be to raise the funds to enable us to scale massively, not to test our idea.
Right now there are greater benefits available than during the public TGE, please contact us for information.
Do you have a roadmap?
Yes, it is on our website.
Do you believe there will be future market demand for your project?
Absolutely. 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?
Please check out investors tab on our website.
What is the function of your token?
The Gaimin.io “GRMX” token is an EOS utility token and is the exclusive payment method for access to the Gaimin.io mining platform.
In the future, the token will also be used as payment from 3rd party miners for access to the Gaimin.io mining pools.
In addition, the token is the currency used by the Gaimin.io gaming community for payment between community members for sale and purchase of game skins, tools, weapons, gestures, energy, etc. for the various games they play individually.
How will you use the funds you raise from private investment and any TGE events?
Please see our website for full details.
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.
You plan to charge gamers a monthly subscription. How do you know the users will pay?
Great question. We plan to charge a small USD amount per month to use our mining platform, payable in the equivalent of GMRX tokens. However, all initial users will start with a free amount of tokens when they download and install the software. They will also receive free tokens via gamification of mining (contributing a certain amount of hashpower etc.) and of course they will be credited with cryptos via the mining activity of their own hash power contribution and that of their network via the Network Expansion Program. Any future payments will be auto-deducted from this balance. A user will never actually have to pay, all subscriptions will be out of earnings. The user will never have to give us any payment information (credit card/Paypal etc.)
(We have a full PDF document which specifically refers to this question. You can find it on our website)
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.
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 that it should). To keep it simple, our mining 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.
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. They key is that we achieve small increases at each point in the process. Let me explain:
- Miner A decides to do it all himself, he uses 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 25% gain through continual auto-management of all the decisions in the mining process, he uses his Network Expansion Program (NEP) referral ink and tells some of his gamers friends about us, and just 5 people decide to sign up, which increases his hashpower by 50%, he accumulates top coins, not “sh*t coins”, because he is with us, which results in a 25% increase in dollar value after 1 year (maybe a big understatement?), he earns an extra 10% from reward payments (PoS mining, gamification and mining pool fees that we share). These are easily achievable figures.
The new amount he is earning with these very achievable figures are:
- $1 (our original amount)
- x 1.25 (add 25% increase for our AI powered mining platform)
- x 1.5 (add 50% for his 5 friends joining through his NEP link)
- x 1.25 (add 25% increase in value of top coins over “sh*t coins”)
- x 1.1 (add 10% PoS rewards, Gamification, etc.)
= $2.58 per day (a 258% increase)
More than 2.5 times the income 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!