Envion Promises A Self-Expanding Mining Infrastructure - And, Obviously, There's An ICO Involved
A few years ago, one of the coolest things in tech was the so-called "Google truck", or a mobile device, the size of a truck, engineered in such a way that it would provide a sort of "pop up hosting infrastructure", something that you could just attach to a lorry, drive it wherever you get some serious energy and then plug it in and voila: you have an on demand hosting facility.
That was the first thing that came into my mind when I read about Envion: they built a similar thing, only for mining. And they call it "self-expanding mining infrastructure".
I have to admit the video is cool, but there are a few issues:
- shortly, Ethereum will move to Proof of Stake, so mining Ethereum will no longer be possible
- Bitcoin mining infrastructure is already decades away in places like China or Iceland, where they plugged into solar plants, thermal water plants or river power plants, entire factories, not just pop-up units - that leaves very few profitable currencies that you can mine (at the current price, but yes, the price may continue to rise)
- as a general principle, I think Proof of Work will become less and less of an option for cryptocurrencies very soon - the innovation speed for minting / governance mechanisms was breathtaking during the last couple of years
With that being said, I'm just pasting here the projected ROI for Envion's ICO.
It's definitely not my cup of tea, but who knows, I might be wrong on this one. It wouldn't be the first thing that I'm wrong about, that's certain.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
You raise some valid concerns. The reasons I'm bullish on Envion, at least for a flip, are as follows:
They have an incredible marketing team which leads me to thinking that they will sell out their tokens at 1 USD a piece. If you get in on day 1 then you can get them at 70 cents.
Marketing is an often overlooked but crucial part to the success of a project.
Green energy is the flavour of the past couple of months with Power Ledger absolutely exploding and Bitcoin coming under scrutiny for consuming huge amounts of electricity, the large majority of which is through unsustainable sources.
If you're concerned with green energy, then I can highly recommend a coin which uses PoB, or Proof of Burn, and it can be "mined" even on Raspberry Pi. It's called Slimcoin and it's a bit under the radar now.
I guess quantum-proof algorithms may have a stand in crypto-mining then.
Also, I have a friend, quite excellent at math and stuff, he said cryptocurrencies, if want to keep completely decentralized, need verification methods that are hard to produce but easy to check.
He's idealistic but he doesn't really like Proof of Stake approaches due to the possibilities of power abuse.
Proof of Burn might be something interesting, then...
Yeah, you've got me, my knowledge is rather limited about that.
Spending electricity to mine a crypto is a non-sense, if you want to invest in solar energy, buy TOPSOL.
http://solarcoach.eu
The grammar nazi in me has to tell you about the typo in the title :) you forgot a "d" in expanding
You tried, that is hard to notice. Nevertheless, his message has been passed.
Good catch, solved :)
Read, Upvoted and ReSteemed
Your posting are becoming a must for me, as a source of new learning. Thanks a lot. I am going to blast this post along my Networks: 50k potential organic reach.Thank you, really appreciate your support!
I read their post on facebook toady, but i waived it off. I will take a second look at what they have to offer now.
Thanks.
@autofreak is here to make a mark.
Yeah! the video is cool, but there are a few issues
Why you should NOT get into cryptocurrency mining: https://steemit.com/mining/@walczakit/why-you-should-not-get-into-cryptocurrency-mining
This Ico looks very interessing , i will check it out thanks for sharing this great post