I did some research into envion's competitors and found some interesting stuff.
Apparently a company called Affinity Mining recently did an ICO. It had similarities to envion in that they intended to use renewable energy, use algorithms to calculate the most profitable coin, and distribute a certain portion of profits to token holders. What happened to this company?
As most miners are aware the current mining ecosystem is changing considerably and thus impacting profitability among the newer ASIC miners, notably the Bitmain D3 x11 Dash miner. The Dash mining sector has been negatively influenced by the massive release of miners and increasing difficulty and as such it has made the units significantly less profitable. Due to a large portion of the ICO capital being invested into these new D3 units;
Affinity Mining will not be able to keep to our designated repayment schedule seen in the Business Model on the ICO website.
This means that Affinity Mine’s will close the ICO and issue refunds to its all affected investors.
See more here:
https://affinitymining.io/One could argue that Affinity made a mistake in investing in too many D3 units and that envion won't make this mistake. While that may be true, this brings up an important concern that will also affect envion. The vast majority of mining is done with industry standard equipment like Antminers or GPUs, and there is a worldwide shortage of these components. Antminers have been completely sold out, and GPUs are in tight supply with retailers limiting sales to only 1 or at most 2 per household. In order for envion to fulfill its goals, they'd need to somehow have not only priority access to these components, but priority access to a
large volume of these components. How can envion, a newcomer with zero past experience in this space, be able to secure such priority access to such highly sought after components? What makes them so special compared to all the other retailers and mining companies, many who have been doing this for a long time? It just doesn't seem realistic to me.
As I recall they already have the equipment purchase secured - for GPU's at least.