Would you like to mine and not pay huge bills for electricity? We are sure that yes. Therefore, we present FlyMining – a new solution that provides customers with the best equipment and the fastest computing power. Dmitriy Elisov, CEO of the project, shared with the editors of The Coin Shark the details of creating the project, as well as plans for its implementation in the future.
Dmitriy, why did you decide to create a project in the field of mining? What goals did you set for yourself?
I got into Bitcoin mining just when the turmoil was building up – around August 2017. Once I got a call from the man that I knew was going to invest in some IT business, but we never had business together. This man knew that I was a specialist in computer science and just casually asked me what I thought about Bitcoin. What did I know about Bitcoin? Well, I thought that it was some kind of ponzi scheme, to say the least. And that was what I answered.
But you do not get calls from prospective investors every day, so I started my own investigation. And oh my, I found that actually Bitcoin is not a ponzi! It had enormous amount of software, services and businesses build around it. Not a single ponzi can brag having so much infrastructure around it. So then I knew this thing is serious and we need to get into it.
Once we were planning to mine for our own, and we still do it. Now our goal with cloud mining is to attract more investment sooner, build more facilities and have better conditions for ourselves and our clients.
Tell us about the advantages of FlyMining for users. How will they save on electricity payments with your project?
It is very easy to explain, but not easy to obtain if you are not a large farm. Not a single homeowner can have electricity as cheap as a large electricity-consuming facility. Simply because we take electricity at higher voltage, 10 kilovolts instead of 220 volts, we pay 20% less per kWh. And that we did not even negotiate! We also negotiate a lot because of stable consuming (usually businesses have spikes in daytime and lows during nighttimes, so we are an ideal consumer for an electricity company).
Our farm now is in Russia because of cheap electricity and climate, but it is not the final destination. We are looking into Mongolia or Kyrgyzstan where we can get great temperatures and excellent electricity prices. People are very friendly and honest there, which is also a great bonus.
I get a lot of questions why we have containers instead of buildings. Because we are mining in containers, we can easily move the farm to a better place. Not so for businesses who invested a lot in their buildings!
What currencies will you be able to pay with for electricity from your mining revenue?
I believe we are still the only cloud mining service that actually allows to pay electricity fees with USD or EUR!
It is easy to understand why nobody else does that – it is actually a huge slice of pie for cloud mining companies. That create their own exchange rate for your Bitcoins when they deduct for electricity. Just 2% of those payments is a pretty large sum that they get every day!
They have to do that because their electricity price is not as low as ours. If we were located in USA or Europe, we also would have to do some tricks, but our electricity is very cheap, so we can go ahead and create unique propositions without and dark schemes.
If to speak in more detail, with a help of which functions a user can be sure that the equipment for which he or she paid works?
That’s one of the most important questions, I think. How do our customers know that we will be on the same place where we are today?
First of all, our company is based in Europe with its strict laws. This is a huge guarantee that we will not do anything that is not written in T&C!
As of checking that equipment works – it is easy. We have our cloud mining farm webcams that are looking at $1.5m worth of equipment 24/7. This farm is decorated with a large logo of Flymining, so you know that it is our farm and we are not streaming somebody else’s picture.
And last but not least – you can just withdraw every day. We have the lowest withdrawal fee we have ever seen, so that should not be a problem. You will not find a single comment in the whole internet that the payout was declined or postponed.
Dmitriy, is the price for tariffs in the service already set?
We are still pivoting a lot, as we are still in the startup phase. Please just check our “Pricing” page for the current pricing!
When is the FlyMining team planning to fully implement their idea?
When at least 1% of human population will be involved in Bitcoin mining and will be controlling on which pool they are mining to avoid centralization.
Right now even 1% KNOWS about Bitcoin! That’s how much work we still have to do.
How to join your project?
That’s easy! Visit https://flymining.cloud and sign up!
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