MinerTokens – Crypto For The Miners With Hardware Incentives

MinerTokens is taking a very unusual approach towards promoting itself before the coin is launched on March 10th. It will be a coin by the miners, for the miners. Interested yet?

The idea behind Minertokens is pretty simple, even though some people might argue it will be overly ambitious to make such claims and promises.

By mining MinerTokens, you will not only be able to exchange your coins for Bitcoin or Litecoin, but you can also rent mining hashpower with it. Comparable to services like LeaseRig and BetaRigs.

You can see a circle forming here : mine MinerTokens, rent more mining power to mine more MinerTokens to rent more mining power to mine more MinerTokens….. You can see where I’m going with this.

But that’s not all, there actually is a nice incentive to keep mining MinerTokens for quite some time, and it involves mining hardware as well.

To rent mining power, it will cost you 50,000 MinerTokens per Mhash per day. However, if you rent up to 1000 Mhash, you will become the official owner of a 5 Mhash/second Scrypt miner.

This miner can be either shipped to your doorstep, for an additional fee I would assume, or you can let the people behind MinerTokens host it, and you will simply get 80% of all earnings.

I know that would require 50 million MinerTokens in order to rent 1000 Mhash/second from them, so it will take a while before anyone can make this happen . Or so you’d think.

MinerTokens‘ block rewards start of at between 0 and 1 million MinerTokens for the first 100,000 blocks, and halving every 100,000 blocks. Don’t be mistaken by these numbers though, as MinerTokens is not your regular Scrypt coin.

Otherwise it wouldn’t be a fair competition now would it? MinerTokens is a Scrypt-N Coin,  which means that mining profitability will decrease every time the N-factor increases.

In order to get yourself a 5 Mhash/second rig from MinerTokens, your best bet might be to buy up as many MinerTokens as you possibly can. And there’s an easy way to do just that!

You can either buy it off an exchange, as soon as MinerTokens gets listed. Or you can partake in the IPO, which is currently open to the public. The minimum buy is 0.0025 Bitcoin, but this can go up as high as you want.

IPO related coins will be released via a 3% premine, totalling 3,000,000,000 MinerTokens. Of these, 2,500,000,000 will be distributed for the IPO, and the remaining 500,000,000 will be used for bounties and giveaways.

All in all, MinerTokens looks like an interesting coin, and one with a unique approach. Whether or not you should invest in the IPO, is completely up to you. I probably will though….