✔️Spider Miner FAQ's
The SpiderMiner Ultra is a high Specification, eco-friendly Multi-Token hardware miner which also includes military-grade VPN protection built into its firmware.
Due to its Ultra-low power consumption, multi-token mining and high ROI (in tokens mined) the SpiderMiner Ultra offers miners a much higher chance of profitability over all other miner competitors. Unlike traditional hardware mining, where you buy a specific Miner and mine only one token, on the SpiderMiner Ultra you mine a variety of good project tokens at ultra-low power consumption rates, this means your ROI is automatically diversified and net returns are higher due to much lower electricity costs.
Currently, the SpiderMiner Ultra costs $1250 plus shipping.
The SpiderMiner Ultra can be purchased using your Credit or Debit card, Paypal, or Crypto Currency payments via the CoinPayments service.
It depends on how you decide to operate the Miner. The SpiderMiner Ultra operates in 2 modes:
- 1.In mode 1 it can be a simple Hardware miner that will mine equal amounts of a variety of tokens over a set period of time (1 year) for a fixed rate of return (in tokens). Currently, this “Mine Only” rate of return is 140% (in tokens mined). This means that your initial investment will grow by 40% (in token quantities) after 1 year of operation.
- 2.In mode 2 it can be a “Mine & Bond” miner that will mine equal amounts of a variety of tokens over a set period of time (1 year) for a higher rate of return (in tokens). Currently, this “Mine & Bond” rate of return is 165% (in tokens mined). This means that your initial investment will grow by 65% (in token quantities) after 1 year of operation.
In “Mine only” mode the SpiderMiner Ultra operates like a traditional hardware miner and will give mining rewards based on the miner Algorithm (POPS-Proof of Privacy Staking). As long as the miner is meeting the requirements of the POPS Algorithm then rewards accumulate at the 140% rate (in token quantities).
In “Mine & Bond” mode the SpiderMiner Ultra also operates like a traditional hardware miner and will give mining rewards based on the miner Algorithm (POPS-Proof of Privacy Staking). As long as the miner is meeting the requirements of the POPS Algorithm then rewards accumulate at the 140% rate (in token quantities). The 165% reward rate (in token qualities) are available when users initiate the Bond feature within the miner. This feature requires that miners automatically bond their mined tokens for a minimum period of 90 days and are unable to move or sell tokens during this period. Users can choose to either re-bond their tokens for a further 3 months and continue to receive the bond reward rate (165%) or revert back to a “mine only” reward rate (140%).
The SpiderMiner Ultra has a very low power requirement, even when operated 24/7/365, its power consumption is equivalent to a typical LED bulb.
This is provided by us as part of the Miner Activation process and is done automatically.
Unlike traditional power-hungry crypto mining, the SpiderMinerUltra has an ultra-low power requirement. The SpiderMiner Ultra requires only 3.5w of electricity to operate, this is equivalent to a tiny 30 kW/hrs of electricity over an ENTIRE year. Even if this power is exclusively sourced from burning fossil fuels then it's equivalent to emitting only 20kg of CO2 over that whole year.
Apart from our own $SPDR token, our initial batch of miners will include another four high-quality tokens from a diverse range of well-established mature projects. To enable a joint announcement with our partners and their communities, we will announce simultaneously the names of all of the other participating projects next week (watch this space!)
We are anticipating huge demand for our initial batch of SpiderMiners. So we have set up a pre-order facility where people can secure their miner in advance.
We are actively involved in securing a wide range of future projects, and we will announce these partners and the release date of future mining groups shortly. The great news is that the SpiderMiner can accommodate any token from any network regardless of its network protocol or token characteristics, and therefore users can benefit from hassle-free, profitable mining across a potentially massive range of tokens.
For every miner sold, we will donate $5 to the Tree-Nation project. This project has already planted over 12 Million trees and offsets over 1.5 Billion Tonnes of CO2. Unlike traditional Crypto Mining you can earn crypto and still be guilt-free. Not only do we offset your mining carbon emissions we actually remove more carbon over the Lifetime of the trees that are planted.
The SpiderMiner Ultra multi-token Miner has been designed to be a simple to use "plug and play" device. You will not have to grapple with complicated configuration settings or protocol set-ups. A simple 2 step process after power up gets you VPN protected and mining in less than 3 minutes after opening the box.
The POPS (Proof of Privacy Staking) is at the heart of the SpiderMiners reward mechanism. Once you purchase a SpiderMiner Ultra it will help secure and grow the Spider VPN network and at the same time you will receive SPDR and a range of other diversified tokens as rewards.
Our revolutionary hardware mining protocol is based on your fundamental need for both security and privacy. The SpiderMiner Ultra uses a combination of 5 metrics to validate and reward miners, once all 5 metrics are validated users benefit not only from a world-class VPN service built right into their miner but are also rewarded in a predictable and highly profitable way.
1. Mining and Bonding
Miners are required to initially bond a minimum of $10 worth of each token for the duration of the mining period. Once a miner is activated these tokens are automatically bridged and staked on the Moonriver Network. The Moonriver Network has consistently low fees, high security and scalability as well as being fully transparent and decentralized.
2. Validity
The network constantly checks each miner based on its unique characteristics such as its MAC address, Chipset Serial numbers and users account details to make sure only valid and authorised miners participate in building the network and securing mining rewards.
3. Reliability
The Miners “up time” on the network. Miners are “pinged” constantly and monitored for their connection and mining status. Our system checks and reports on the current and historical status of the miner reliability..
4. Security
Is the miner connected to the Spider VPN network? To participate in mining rewards users have to participate fully in building and using Spider VPN’s world-class service and will be expected to be connected to the network 24/7..
5. Data Throughput
Is all of the user's data protected? Miners are expected to achieve and maintain a minimum quantity of protected data throughput on the network. Miner usage (as measured in MB’s of Data) is monitored and displayed on the miner user interface 24/7..
Together these 5 metrics are at the heart of the POPS algorithm and once successfully deployed will ensure a steady and reliable stream of multi-token rewards that are displayed in real-time on the miners easy to understand interface. Built into the miner interface (among a host of other live mining metrics) is a real-time display showing the live mining and bonding rewards for each token and its current $USD value.
The Moonriver Network has consistently low fees, high security and scalability as well as being fully transparent and decentralized. At the beginning of the SpiderDAO project, we committed ourselves to move to the Polkadot network as soon as possible and as a parachain on the Polkadot network, Moonriver fulfills this commitment.
Of course, there are a number of Networks that have bridges to and from the Moonriver network. In addition, all tokens mined on the Moonriver Network can be exchanged or sold for other tokens from within the Moonriver Ecosystem
Through software and hardware (firmware) upgrades all Spider Miners are future-proofed for both their operation and additional features that will be included in our roadmap.
We are currently developing additional features for future SpiderMiners and we are committed to making sure every miner sold has the chance to participate and benefit from these features.
Some of these upcoming features are outlined below and will be available as a firmware upgrade in the near future:
- DAO Voting
Future upgrades to miners will mean users that wish to participate in DAO voting will have protection from Dark DAO’s. One SpiderMiner will equate to one vote with safeguards in place to ensure hoarding of hardware devices is instantaneously detected by the network, those devices are then removed and blocked from the voting features.
- Bandwidth Monetization
We are currently working on new and innovative ways of making use of your excess bandwidth. Since your SpiderMiner acts not only as a multi-token hardware miner, but also as a military-grade VPN router we are able to analyse and calculate your average bandwidth usage and therefore able to automatically allocate and monetise excess bandwidth, harvesting the income right into your miners wallet.
- Decentralised ID (DID)
The Decentralised ID (DID) service combines hardware Mips Architecture, offering Military-Grade Cryptography, and 2-Factor authentication protocols so that users may access their DID Wallet from any registered personal device (Phone, Tablet, Computer) whilst ensuring maximum security.
- Hardware Crypto Wallet
Hardware with Mips Architecture, offering Military-Grade Cryptography, and 2-Factor Authentication protocols so that users may access their hardware wallet from any registered personal device (Phone, Tablet, Computer) whilst ensuring maximum security..
- Metaverse Protection Aid
Built-In Metaverse Protection System, which ensures your security while you concentrate on the things you care about most in your Metaverse.
A mining group is the name given to a group of projects and their tokens that are included on a particular batch of miners.
Mining yields can only be in 2 states, Mining only or Mining and bonding. During mining only the ROI is 140% (earned in token quantities) or in mining and Bonding the ROI is 165% (earned in token quantities)
There is no limit to the number of miners you can buy (subject to availability).
Miners have VPN service for the full duration of mining (1 year). VPN service can be extended beyond the mining period by purchasing a new VPN service.
Yes, the cost of the miner includes a VPN service during its mining period.
Yes, the miner can act as a normal VPN router whilst mining.
Yes, in line with SpiderVPN’s no-log policy, the SpiderMiner does not collect any logs.
The VPN service forms part of the POPS (Proof of Privacy Staking) Algorithm and as such is essential to the normal operation of the miner.
Unlike traditional power hungry crypto mining, Spider crypto miners have ultra low power requirements. A typical SpiderMiner requires only 3.5w of electricity to operate, this is equivalent to a tiny 30 kW/hrs of electricity over an ENTIRE year.
Mining yields can only be in 2 states, Mining only or Mining and Bonding. During the “mining only” state the ROI is 140% (earned in token quantities), so the daily yield is 0.383% (in token quantities). In the “Mining and Bonding state the ROI is 165% (earned in token quantities) so the daily yield is 0.452% (in token quantities).
Mining rewards are reduced in line with the time the miner is offline and in proportion to the rewards that would normally accumulate in that time.
You will be able to monitor your miners mining progress through the interface on the miner. You will get a notification via email when your miner is offline.
Any Wi-Fi or ethernet-enabled devices can connect to the miner.
No, it acts as a second WI-FI or ethernet connection/hotspot which adds an additional layer of Security, protecting any devices that are connected to it.
Last modified 9mo ago