Genesis Collection Presale is LIVE!
The presale for our Genesis Collection with Hashrate Collectibles from Blockmole was successfully launched on Tuesday, and we would like to thank all of you for showing great support by creating over 5,000 wallets to participate in it! We would like to use this opportunity to remind our community the added benefits of these Hashrate Collectibles in addition to just mining Bitcoin, which can be summarized as:
- An opportunity to mint collectibles up to 170TH/s for just $300!
- Future access to games where you will battle other miners for a chance to win extra hashrate.
- Regular competitions and drops that will only be available to owners of these Collectibles.
- Gorgeous art from the renowned artist Delux3 to add to your collection.
- Access to future collections with numerous partners. Our Genesis collection is just the first in line of unique RWA tokens we are preparing for you.
- Ability to participate in the decision-making for future products and game developments.
Quick reaction to immediate feedback
Based on the initial feedback we’ve received from you, we’ve identified some areas that need improvements and we are taking immediate action. The main areas of improvement will be on the:
- Cosmostation wallet connection
- reward calculator
Before we go into further details, we’d like to announce that we’ve decided to extend the presale period in order to protect the rights of the whitelisted users who may have failed to exercise them due to the points mentioned above. We must and can confirm that anyone who has already minted their collectibles has already started accumulating their rewards as planned.
Clarification on the reward calculator
We wanted to provide our users with a calculator to estimate their future earnings in as simple a way as possible. However, Bitcoin mining dynamics are far from simple and predictable. The highly volatile nature of cryptocurrencies, and Bitcoin in particular, leads to periodic highs and lows in price and demand. While these mostly unpredictable fluctuations are what makes Bitcoin exciting and desirable, it is also the reason behind the negative correlation between the performance of a model and its simplicity — the simpler the model is, the less reliable it gets.
In our calculator we used a linear approximation of the three main parameters of Bitcoin mining: price, difficulty, and block fees. This model draws a straight line between the start and end parameters over the course of the four years. In reality, however, this will be anything but linear due to the fluctuations mentioned above. Therefore, the end parameters should be chosen not as an indication of what they will be at the end, but rather in a way to reflect the average over the course of the contract. For example, assuming the current Bitcoin price is $28K, if it goes up to $200K and drops back to $100K at the end of year 4, then the end price should be closer to $200K.
As a consequence of focusing on overcoming this complexity as much as possible, we have realized that the opportunity factor of minting a hashrate collectible has been missing from the calculator page. Hence we have updated the page with better descriptions and visuals in an effort to provide better support to our users. As always, please feel free to reach out to us if you notice any errors or inconsistencies, or if you need any additional support.