Hi there! Seems you’re interested in the Cybermiles ICO. Well, you’re lucky today, as I’ve made an all-encompassing article about it. We will be following the next structure as it is easy to read and simple to understand:

1. What?

— is 5miles?

— is the Cybermiles ICO?

— will the Cybermiles tokens do?

— are the short- and long-term goals?

2. When?

— is the ICO launched?

3. Where?

— can I buy the tokens?

4. Why?

— should I invest?

5. Who?

— can invest?

— is behind all this?

6. How?

— will Cybermiles change the e-commerce business?

7. F.A.Q

THE ICO IS OVER! 80000 ETH WAS RAISED. FIRST LISTING WILL BE ON COBINHOOD LATE DECEMBER EARLY JANUARY

If you’re familiar with one or more of the paragraphs you can always skip this! But I don’t recommend it. The most important information is written between the lines :)

This article however isn’t for newcomers to the crypto space. There are a lot of terms you might not have heard of, or don’t understand. So, as soon as you come across a word that you don’t understand, look it up on the web or you might not understand this article.

Let’s start!

What is 5miles?

The first and most important thing you should do is read their Whitepaper. If you haven’t done it already then you definitely should do it as this article will refer to it, explain it, and give more information that isn’t written in there.

Link to the Whitepaper: https://cm.5miles.com/file/project/Project%20white%20paper_en-US.pdf

Cybermiles ICO is a project of the following company: 5miles Holdings Limited, or 5miles in short. It’s a company that is a leader in e-commerce in the United States. Two examples of other businesses that venture in the e-commerce waters are two you probably have heard of before: Amazon and eBay.

5miles has a mobile application (if you’re reading this on your phone) that can be found here:

Google Playstore: https://play.google.com/store/apps/details?id=com.thirdrock.fivemiles&hl=nl

Appstore: https://itunes.apple.com/be/app/5miles-buy-and-sell-locally/id917554930?l=nl&mt=8

It’s an easy to use application that works similar to Craigslist. Note that Craigslist, like Amazon too, has had massive success. Therefore, 5miles can grow way more than it already did. There are currently 12 million registered American users, and the number is only growing. It is estimated that the total transaction value for 2017 will surpass 3.000.000.000$ (3 billion US dollar) (Whitepaper page 4 )

1.2 What is Cybermiles?

We know that the company has proven to be successful and probably will grow more in the years to come. 5miles has raised approximately 62.000.000$ from top-tier investment firms since their start a mere 3 years ago. But that wasn’t enough. They came up with a world changing idea that could launch them up even more on the charts. Cybermiles.

Cybermiles is a lot like Ethereum (Yeah, that coin that rose from 0.42$ on 21/10/’15 to around 308$ nowadays). But it’s different on some levels.

1) Ethereum was never based for the e-commerce, where Cybermiles will be. The e-commerce business currently has a market capacity of around 2 trillion US dollars, and is expected to double in 2021 (1)

2) There would be latency issues because of the high volume of people using the platform. Ethereum Smart Contracts wouldn’t have been able to cope with it, whereas Cybermiles Smart Business Contracts will be, with around tens of thousand transactions per second.

3) Cybermiles will use a PoS (Proof-of-Stake) engine. This is the next generation algorithm to reach consensus. Currently, mining isn’t profitable unless you invested a lot of money in mining rigs. With the PoS-engine however, mining is made significantly easier for the average person and it increases the authenticity of the network while it minimizes the chances of risk and fraud. (Whitepaper page 6)

So Cybermiles is an advanced blockchain technology developed by 5miles, that like Ethereum will also release its own tokens. Right now, the tokens for the ICO are ERC-20 based, but as soon as the blockchain is ready, and completely tested, the ERC-20 tokens will be switched by the company in a 1:1 ratio for tokens on their new promising blockchain. The value of the tokens before switching will stay exactly the same.

The platform will also be decentralized. This means that a lot of people run the network all over the globe instead of a giant central server somewhere. This ensures that the Cybermiles platform won’t have downtime, as the software will always be ran by someone. A central server could be hacked, or is perceptible for a cyberattack, whereas a decentralized network won’t have these problems at all.

1.3 What will the Cybermiles tokens do?

CMT has a lot of advantages for holders, that are mostly for their 5miles application. With CMT, 5miles plans to reward and incentivize the community members if they contribute their computing power for maintenance of the network. This can be done in several ways; running nodes, validating transactions and the execution of Smart Business Contracts. In short, if you help the network, you’ll be rewarded with CMT!

But there are other things too. If there’s a dispute between buyer and seller, the network will select a random group of people for their opinion. You evaluate the case and claims, and then you can choose whether the buyer is right, or the seller. When you chose the same answer as the majority of the other people from the selected group, the dispute will be settled in the favour of the buyer or seller depending on who the majority chose as right, and you’ll be rewarded in CMT. If you chose what the minority choose, you won’t get any CMT. This way, Cybermiles makes sure that you will put in some effort to review the case as you won’t want to miss out those basically free tokens! (Whitepaper page 9 and 10)

The next thing you can do with the tokens is creating a user-generated & user-curated 5miles group. These groups focus on same interest in things. This means you can create a group that’s all about Fender guitars, let’s say the ‘Fender-Benders’. To create this group, you need to pay a certain amount of CMT. People who want to sign up for this group need to pay membership dues and if you want to promote your own badass Fender guitar you need to pay some CMT to. Seems like a lot of paying! This however is a good thing, as tokens will be in circulation and in demand, raising the value of CMT.

Businesses also have a couple of benefits using CMT. They can give out promotions and coupons that are only payable with CMT and they are eligible to promote their products if they pay CMT tokens to people who are willing to promote the company’s product, as there will be people who have followers and significant social media presence. This can even be done within a certain radius to reach out to people who are closest to the stores and thus are the most appealing customers.

The best thing is yet to come, because there will be something called ‘5miles Experiences’. This is essentially a review page for every buyer and seller. Buyers can post pictures about the product they purchased and tell others how happy or angry they are with their product and the interaction with the buyer. The better the reviews are, the more chance you have for successful sales in the future!

There are a couple more things you are able to do with CMT on the 5miles application. We are not going to discuss that right now because the article is rather long already. If you are interested in the other advantages CMT has to offer — like Match And Supply — you can check this in the Whitepaper page 13 and 14!

1.4 What are the short- and long-term goals?

The Cybermiles project has mostly long-term goals. In 8 months, we should see the integration of the CMT in their mobile application. And a year after that we should see other companies use the Cybermiles platform to create their own tokens. You can see a full list below:

Oct. 2017| Issuing the Cybermiles Token for the public.

Dec. 2017| Launch of the very first Cybermiles Smart Contract Modules.

June 2018| The 5miles application will now accept CMT and it will be integrated.

Dec. 2018| A new and completely finished version of Cybermiles called V1.0 will be launched.

Mar. 2019| Cybermiles will make the Smart Contract Modules available for other companies to use. This way, other companies can issue their own token based on the Cybermiles platform.

These goals are good or bad depending on the investor you are. For long-term investors, this is a great opportunity! We should see a demand for the tokens that will steadily rise until the integration with the mobile application. However, I wouldn’t recommend this for short term investors because it probably won’t be volatile and profitable in the short-term. (Whitepaper page 27)

2.1 When is the ICO launched?

As of writing, you still have 18 days to register for the sale. The sale itself starts on 21st of November 0.00 Am Pacific Standard Time (PST). The registration is required before you are able to buy the tokens, but this is short an easy to do. They do ask your ID or driver’s license and I have a double feeling about this, as one of the best things about cryptocurrency was the ability to stay anonymous. So that’s the bad part. My good feeling about this is, is the fact that this adds an extra security layer because they can whitelist all the buyers. The tokens are locked like most ICO’s and will be distributed in a period of 30 days after the 21st of November.

Right now, you can only buy the tokens with Ethereum. 1 ETH will get you 7000 CMT. This means that every CMT has a value of 0.000142857143 ETH/CMT. As time of writing, this means that every CMT token has a value of; 0.044$/CMT or 0.037€/CMT. (But this will be more in the future 😉). The minimum deposit is 0.2 ETH.

It is possible to get a big number of tokens for free if you are a holder of COB tokens. Cobinhood will underwrite this ICO on their zero-fee exchange platform. So, take a quick look over there if you want to get more CMT for the same price!

3.1 Where can we buy the tokens?

You can only buy the tokens on the official website of Cybermiles:

https://cm.5miles.com/

A big orange button in the middle of the page says: Participate Now.

After you’ve clicked this button, just follow the instructions and you’ll be good!

Do know that Cybermiles also works with a referral program. If you click my referral, you can get an additional 350 CMT for every Ethereum you invest, so don’t miss this opportunity to get some free tokens 😉.

Link to my referral:

All the other information regarding the Cybermiles ICO and token launch can be found in the link down below. It’s a document created by the Cybermiles company itself and contains information about how many tokens will be released, what the vesting period is, where the funds raised from the tokens go etc. Definitely worth a read!!

The document regarding all the information about CMT!

4.1 Why should I invest?

To start, I need to say I’m not a financial advisor and this is for informative use only.

Now, that that’s out of the way, let me tell you why this is one of the greatest opportunities I’ve seen in a long time.

Unlike most ICO’s, this is the project of a respectable, reputable and successful company. Many tier-one investing companies have seen the opportunities in 5miles, and many will see it in Cybermiles too. The project is led by a great team that has proven to be successful in the past too, and when the ICO is finished, they will have all the funds they need to take this project to the next level. (I’m pretty sure they already have enough funds though). A great project backed by a great team is the first and biggest green flag for any ICO. The next green flag would be marketing. And they’ve got that as well. They will reach at least 12 million users! 12 million users is a very big number in crypto space, if you take note that only less than 1% of the entire population on this earth knows about cryptocurrency at all. Their Whitepaper and website are also written in 8 languages including Asian ones. This means they aren’t only aiming for the market in the US, no, they are also aiming for the market in Asia!

The next big green flag is its similarity to Ethereum. Cybermiles won’t have the same purpose, but it will be used by a larger amount of people + there are incredibly many businesses that could profit from the Cybermiles platform. This gives Cybermiles a vast audience of buyers and sellers!

It will also be listed on Cobinhood and other exchanges as soon as the tokens are released. This means that low liquidity issues will be solved directly and that the token can be bought or sold at a reasonable price very close to ICO price.

5.1 Who can invest?

Everyone is able to participate in the ICO, EXCEPT people who reside in China and people from the OFAC list (2). This is because of regulatory reasons and a ban on the use of cryptocurrency in China. This seems to be changing as China is slowly taking a different view on crypto space and ICO’s, but this might not happen any time soon. It was a good thing however, because since the ban, Bitcoin soared to new heights (3).

This ban could easily be bypassed by using a VPN. A quick search on the web for “free VPN” and you will be able to participate, but do this at your own risk, as China and countries from the OFAC list aren’t clear about ‘possible charges…’

5.2 Who is behind all this?

I’m going to talk about the three most important people who are running this project. The first one is the CEO of the Cybermiles company; Dr. Lucas Lu, who was previously a co-founder and CTO of Light In the Box (a company which went public on the New York Stock Exchange). Before that, Lucas Lu was the first General Manager of Alibaba’s Taobao Mobile platform. (Taobao is a Chinese online shopping website that could be compared to Amazon and eBay). He generally responds really quickly on questions in the Telegram chat!

The next person in line is Dr. Michael Juntao Yuan. He is one of the directors in the project. This guy really knows software development as he wrote 5 books about it. He has been part of many big Open Source projects such as Firefox (the web browser) and JBoss (an Opensource server). He has also done research projects funded by the government.

The last person we are going to talk about is Frank Lee, who is appointed as an advisor to the CyberMiles Foundation. Mr Lee is an entrepreneur and is the founder of a few start-up companies. He also was the first person in the world the integrate the ASIC system for a Litecoin miner. Two of these start-up companies are a part of the MI eco system.

Except Lucas, Michael and Frank, there are also a lot of other people whom are working on this project. Most can be found in the Whitepaper or on their website. I’ve checked all of them and they seem legit. I did a reverse image search and every person on the list was indeed real, but I wouldn’t have suspected otherwise from this company! (Whitepaper page 25 and 26)

6.1 How will Cybermiles change the e-commerce business?

We’ve all read about some positive features 5miles and Cybermiles possess. But how are they going to change the e-commerce business?

Once again, we will make the comparison to Ethereum. ETH completely changed crypto space as we knew it. It gave people the possibility to create tokens, use Smart Contracts and it was a new means to raise funds. These advantages over Bitcoin quickly made it grow out to be the second most traded crypto coin. This was all thanks to the innovative aspects and Cybermiles, my dear reader, is following in the footsteps of Ethereum.

The cutting-edge idea of creating a unique blockchain and platform that’s solely based for the e-commerce business is one of the most forward-looking concepts that crypto space has seen in years. Cybermiles will be the pioneer in integrating the blockchain and cryptocurrencies into the daily lives of ordinary people.

Right now, only Tommy, that annoying kid from the neighbours who never comes out of his house and only sits in front of his computer all day, knows about cryptocurrencies and their bright future. In a couple of months, when CMT is integrated into the 5miles application, he won’t be the only one anymore… It turns out that his mother is paying with CMT on the 5miles application, and her colleagues too, as she told them about how it’s so easy to use. Her boss then overheard her accidentally during the daily coffee break, and he is already planning with the board of directors to use the Cybermiles platform for the company because it shows promising growth and development.

That’s how fast it can go.

That’s how fast it probably will go, because the e-commerce business is an immense one. Many people all over the world will be stimulated to use CMT as it will soon go around the globe. And the best thing is the fact that it isn’t restricted to 5miles alone. Many start-up companies are very likely to use the Smart Business Contracts provided by Cybermiles for improvement and growth of their own company. And Improvement is the keyword here. 5miles just improved the whole e-commerce business on its own! I mean not on its own, because you can be a part of it if you’re quick enough 😉.

F.A.Q

“How can I contact Cybermiles if I have a question?”

-Go to the Cybermiles website : https://cm.5miles.com and scroll all the way down. You can reach them on various platforms likeTelegram, Reddit, Twitter and more!

“Where can I find the contract address? Because I can’t find it…”

-You did a pre-contribution registration. It means the sale for the tokens starts the 21st of November. So, you can’t pay yet. Therefore, no contract address!

“When is CMT going to hit exchanges?”

-Calmly my friend! The ICO didn’t even start, let alone finish 😊. But to answer your question: It still isn’t clear. Cobinhood will be the first exchange to list CMT but this still might take a while. No official date yet, but keep yourself informed on the various social platforms!

“How on earth are they going to be able to support 10.000 transactions per second?”

-Their PoS engine will be integrated from the beginning, unlike other cryptocurrencies that are in a changing transition (4). They looked at various other PoS engines, and they changed what could be better and improved it as much as possible. Some stresstests showed they were indeed capable of those 10k transitions per second.

“Will I be able to cash out my CMT?”

-Yes, you can easily cash out your CMT any time you’d need it. The application would do it for you, so no need to go to exchanges!

“Will everything from 5miles to Cybermiles be based on the blockchain then?”

No, there will still be some functions on the cloud and AWS ( Amazon Web Services). Examples would be CDN and the storage of pictures.

This article was written by Ballsdeepcryptobro. Your Bro for weekly updates on everything that’s happening in crypto space.

Bro Out

PS: don’t forget, always go Balls Deep!