Securix

Good business team. Technology team is totally missing though - there's absolutely nothing on their Github! Apart from the way energy generated, there were similar concept in the past which failed totally after the ICO; and couldn't keep up to the market. MVP link doesn't work! Will be happy to amend rating after heard from the team.

[Update] Thanks Damian for detailed explanation on the LinkedIn. I can definitely see you guys doing something different which I already considered in terms of energy and tokenised mining. My main concern is your technology team - it's very difficult for Investors to believe team will be able to keep up the promise and deliver; and do not run away after the ICO as all previous mining ICO did! I have no doubt about your concept but you need to do something strong and innovative technology wise so Investors and Experts can believe.

"Our calculations are based on a realistic annual average BTC price of USD 10,000. If we base our calculations on this rate, our token holders can expect a 137% return* on their investment – even if the average price is USD 5,000 over a year. You could still receive up to a 44% return on your investment.* That is a lot more than you could ever earn from a savings account at your bank."

This is a very strong statement. I think theres a need to factor in like amortisation of equipments etc as well and manpower costs over time and potential replacement of equipment. It would make sense if its a security token, not really utility token in my opinion.. But thats just my 2cents.

I must say that this project is very ambitious and I am not sure if the team can implement it or as some positions lack which is important including community enagement, business development, PR, marketing and communications. This should be improved.

The vision is good but I am concerned about the distance between softcap and hardcap which is $52mln. What happens if the softcap is reached by the end of the tokensale? Will you guys extend the sale to reach hardcap?

MVP link is dead so I could not review this aspect at all. Good luck to the project!

team is ok. the idea is not new.
i dont think the calculations are correct and appear to be based on very simple math. I would suggest an additional amount of research be done prior to investment.

"Our calculations are based on a realistic annual average BTC price of USD 10,000. If we base our calculations on this rate, our token holders can expect a 137% return* on their investment – even if the average price is USD 5,000 over a year."

Please elaborate how you arrive at the BTC pricing assumption as well as formulae for determining 137% return?

This is a very ambitious project but if the team can pull it off successfully, the ROI will be huge for investors. Though the team is experienced and capable, they might need some more technical people.

Like Jan mentioned, the only major risk I see is the fluctuating price of BTC, but there is nothing much you can do about it.

Mining other profitable coins in the future will definitely help in alleviating this risk. I wish them all the best and look forward to see an MVP soon.

Team is good. Vision is great. Mining will be always there because of bitcoin and etheruem popularity. Project is ambitious. MVP link is not working. White paper and token economics is good. Best of luck team.

Strong team with good working knowledge of business. The vision is ambitious which is a good thing. The team will need additional resources for PR, marketing and advertising for the project. The volatile nature of Bitcoin can severely affect the project performance.

Great team, good idea and vision, and a company that is already operational and making profits.

The fact that the energy is bought through a p2p model excites me tremendously.

The only major risk I see is the volatility of the BTC price, but this has been an issue with all mining companies.

Maybe diversification into different coins might alleviate some of these concerns.

I dont know if mining is a future business. The ressources which is needed for mining will be probably prohibited in future, because its possible to mine coins with other consensus like proof of stake. I mean, we burn so much energy for something which could be done different. A lot of companies promised such ROI and when the price of BTC dropped down nobody of them make profit anymore or they disappeared. And I dont know why you use your own coin? It makes your business just more complex as it should be. In my opinion its a nonsense model.
Revision:
I had a conversation with Damian Strauss from Securix and he explained me in detail the project. So they are already mining and have a working product, so I changed the product rating from 3 to 5. Thank you Mr. Strauss for answering my review.

The project is interesting and has a strong team behind it. I like the idea and the whole ecosystem that it creates. My main advise is to take out the return on investments part. Claiming those % is a very dangerous path that everyone should avoid. Instead of making this type of statements, present a Financial Plan/Statement with projections and scenarios.

SECURIX is a company which uses the blockchain. I think it is interesting and perspective project. People, who says that mining has died or will soon die - are not right, if there is no mining - the market of crypto currency and bitcoin will be stopped. Securix has invented a new system a token driven mining system and everybody can benefit from this, no contracts anymore.

SECURIX team have a product and not a software solution which has to be made. At this project we can find modern tech solution, good project, thoughtful project, a competent team, behind the back there is experience.

DYOR! I'm just thinking out aloud!

1) Teamwise and advisory wise - this ICO has it covered. I talked to Damian for around 30 mins, he explained to me about the project and its vision when I was being recruited as a prospective advisor for the project. I was too honest about expected poor investments from the Japanese market - so didn't end up being an advisor for the project :P
I appreciate when CEO's / Founders speak their mind and say exactly that they want from advisors and I don't sugar coat facts to get jobs either !

2) Vision - Super option for people who don't want to personally set up a mining rig and mine away ! But as I pointed out to Damian, with so many scams in the mining space (ode to Envion), it will be a rather uphill battle in gaining trust. But with enough transparency and dedication, anything is possible!
Like all mining setups, volatility of the BTC price is an issue- perhaps the option to mine other coins as an alternative strategy ?

3) Product - Mining is up and running (beyond the MVP, and alphas, betas as zetas) , which is just awesome! Return on investments part (ROI Based on year / Yearly returns / Monthly returns), from past experience with mining ICO's. I personally don't like this - perhaps a financial statement with scenarios and projections ?

Again, DYOR! I'm just thinking out aloud!

Great team, good quality profiles with strong knowledge in the business field. The team needs to work really hard for this to be successful and bring ROI to potential future investors. The main problem here is the price of Bitcoin that's always on a high and low. The volatility of the market won't help much and that's something that their technical team will need to consider and deliver to it's audience.

A lot of mining ICO’s have ended up being a scam or not delivered on roadmap milestones. Securix have put a lot of thought in mitigating the relevant risks, but its really come back to them delivering what they set out.

The team is experienced but lacks in certain areas, most importantly proven mining experience. The space is involving and miners need to as well - what is the succession plan? what is the secondary market of assets in any event?

Investors should be clear that this is not a security project and therefore you have no rights. Ultimately having tangible assets doesn’t provide investor protection unless there is appropriate recourse by way of guarantees.

The team is great but a bit too ambitious right now as many projects alike have not brought the calculated figures this company has.

That being said, who knows how the market will evolve by the time this is in full swing.

Vision though, is very positive and if they do pull this off, can make a great roi for anyone involved.

I wish the team and company much luck and success.

Seeing how they’re already running, this is a great idea for people who want to mine but don’t want to deal with the troubles of running a rig. With so many pool mining groups turned scam, it will take a lot of transparency for the community to gain trust. Overall, it’s nice to see mining being decentralized. I’d love to see the operation the next time I’m in the area.

Great group of guys - They actually care about helping people get into mining and get a return - they also show the fact that mining isn't that profitable but it still makes money when done right. I believe they will pull of the project and provide good long term returns based on the model of smaller payouts and constant reinvestment. They can definitely use some stronger mining guys on team but that problem can be solved on funding. Good Luck Guys!