Topic: ⚡⛏️[ANN] Giga Watt: Best Home for your Mining. Starts today! - page 100. (Read 203299 times)

To buy Miner it's here:
https://giga-watt.com/

Tokens here:
https://cryptonomos.com/wtt/

Ok in that case where is the incentive to to purchase mining equipment from them? Why not just rent out your tokens?

Also what if they are not able to get enough people to buy mining equipment?

From now on.

You need the miner plus the number of Tokens to cover the Power Cons. of the equipment. (As I understood it from the last statement of GW)
Token gives you the right to mine at electricity cost or around it.

Without it you need to rent it from someone in order to mine. In that case The token holder will get some reward renting the tokens to you.

Very well explain here:

https://cryptonomos.com/wtt/
https://giga-watt.com/

Someone please help me understand this

You purchase mining equipment thru Gigawatt partners and have it shipped to their facilities.

They host it for you and deduct costs from your rewards based on lower electricity costs.

So where does the WTT come into play for a person who is hosting his miner at Gigawatt facility?

Yep, that is what it means. If you want an L3+ you need also 880 GW Tokens to go with it.

I saw this as well. Any clarification as to what it means? Does this pertain only to purchases of mining equipment from Giga Watt,i.e. equipment sales are only for WTT tokenholders?

Not sure if this is relevant, but got this in the email.

"Dear WTT token holders,

We are writing to you to announce an important and exciting change. Due to overwhelming demand for Giga Watt’s equipment hosting services the Giga Watt project is discontinuing, for an indefinite period of time, the option of buying and hosting mining equipment for clients who do not own WTT tokens.

From now on, the orders to buy and host mining equipment are accepted only from the clients who, at the time of their equipment or hosting service order, already own WTT tokens, and the number of their WTT tokens is ample to cover the energy consumption of all the equipment or hosting service they are ordering.

Our preliminary estimates indicate that the number of orders already placed is sufficient to secure token renters for current token holders who are not interested in engaging in mining in the near future. We are currently preparing a token holder survey to conduct a more thorough evaluation. As soon as we see demand for more token renters, Giga Watt project will renew their sales of equipment and hosting services to clients who do not own WTT tokens.

This is very good news for all WTT token holders: your tokens will be hard at work whether you do your own mining or rent your tokens out to others.

If you are interested in buying new equipment from Giga Watt, here's some information about the current for sale offers, based on availability:

L3+: LTC payment only
S9: payment in BTC, LTC, and USD
T9: payment in BTC, LTC, and USD
Panda Miner B3 Plus: USD payment only

The availability is regularly updated on Giga Watt's website at https://giga-watt.com/ and in our Telegram channel at https://t.me/cryptonomos

If you intend to purchase mining equipment with cryptocurrencies, please secure your payment funds in advance. If you are paying with USD, please note that wire transfers take time, equipment sells out fast, and it may not be available by the time your USD payment is received. We also recommend to purchase WTT tokens in advance if you do not have enough tokens now so yet as the process of purchase of tokens takes some time too and it has to be completed before you can buy your mining equipment.

Sincerely, Cryptonomos team"

So if you buy right now from bitmain site and send to giga watt, wont work? only if you hold wtt tokens, right? Then to whom does the token holders rent their share of the power, if there aren't miners?
What happens if you own hardware and tokens, but decide to sell the token, will the hardware still have reserved space in the factory?

The tokensoap continues.

Take the theoretical situation the ICO gets stuck at 15M (+15% = 17.25M) tokens.

Statements in favor of more tokens being issued after the ICO:
- Mail from support team: "WTT tokens on week 9 will sell for $1.20, so any remaining tokens [not sold in the ico] should also sell at that price. WTT tokens might be sold on secondary markets, but not right away."
- White paper p4 footnote: "More WTT tokens will be issued as the facility capacity is increased through future build outs."
- White paper p14: "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens."
- Telegram Vlad: "Yes,that is still a starting price" , in reply to "meaning that, knowing you'll finish building anyway, the token sale will continue on exchanges at $1.20 if not all tokens are sold ?"

Statements in favor of no more tokens:
- https://bitcointalksearch.org/topic/m.19061396: "If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."
- https://bitcointalksearch.org/topic/m.19413188: "There is no minimum amount: the first facilities have already been completed and the new units are currently being built with Giga Watt's own funds. This is why we can issue tokens for as low capacity as we need."
- https://bitcointalksearch.org/topic/m.19442871: "There will not be any unsold tokens. We will issue as many as it was raised +15% on top."
- Telegram Vlad: "Of course Giga Watt will not stop building more after it fullfills its obligations to tokenholders, but it's not under this Token Launch."
- Telegram Andrey: "New facilities built by Giga Watt will not be tokenized and will be private. So in no way they will conflict with current tokenholders interests."

The last statement is also interesting, of course it will conflict. If the rate of new facilities will be lower then token rent + remaining costs, noone will be interested in tokens. I'm not saying that it it will happen, but I don't see any guarantee that it won't either.

My misinformation treshold has been reached. Don't want to pull the 'scam' card, but boy these ICO's sure make it easy to do so. ICO's need to mature and professionalize. Either they haven't thought this trough or the wrong people are providing information. It's impossible to make a proper evaluation of this ICO when even something simple like this can't be sorted out.

Earlier the question was asked what Gigi Watt do if the power company is going to charge more then $ 0.028 per KWH in the future or they had a long term deal for it.

Answer was; that it would not happen because the power company has also a sweet share in your mining facilities.

This statement is not plausible, because the price per KWH they pay you are more or less the same price what the power plant will charge Giga Watt.

Did Giga Watt take some other preventing measures for this situation (example: contract terms)? 

I'm in with Giga Watt. Waiting for the miner in middle of Sept

The Greek announcement thread has been updated here

https://bitcoingarden.org/forum/index.php?topic=15337.msg170194#msg170194


and here

https://bitcointalksearch.org/topic/ann-giga-watt-wtt-1954941

Hello, maybe it was written and mist it (i could not find the answer anyhow).

I am not a rocket scientist in the blockchain tech, but I noticed that miners have a big deal is voting power for new software updates in a blockchain from a coin.

Like the discussion of BTC hardfork (example https://1august.org)

I think miners have voting power because they choose the miningpools and they manage / install there support of software update. This is there (miners) part beside the wallet providers, exchanges and users hardwallet/paperwallet.

If this is correct, then can GigaWatt give there vision how they manage the voting part by a software update to prevent a hardfork or support it?


Txs  

-------------------------------------

I did found the awnser on my question https://www.youtube.com/watch?v=pElHuqBc_6Q (movie by 31 minutes)

Unfortunate.  Makes me kind of want my btc back.

I'm a trader not a miner and having the tokens setting a slight ceiling is kind of mediocre to me.

Slightly false advertising.

So, today both support and in telegram chat, it was confirmed that, if not all tokens are sold in ICO, the remainder of tokens (+15%) will be sold on another platform at $1.20. This is because:
- The facilities are already being built. This process is not going to stop.
- If not all tokens are sold, this creates a 'gap' between the available Watts (34.5 MW) and the amount of sold tokens. Since the whitepaper states "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens.", this gap cannot exist. It will be filled by selling the remainer of tokens on another platform .

EDIT: Vlad @Telegram is going to doublecheck with team and get back to me..


This also means the following information is incorrect, or at least unclear and incomplete:
- https://bitcointalksearch.org/topic/m.19061396
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

- https://bitcointalksearch.org/topic/m.19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

- https://bitcointalksearch.org/topic/m.19015886
"Tokens are issued after sales - not purchased will not be released."

I have secured two Antminer L3+ from GigaWatt, scheduled for deployment in mid-October. 

I think with the second statement it references the fact that a few gigapods are already created, so regardless of whether or not 30m tokens are sold the ico will be a success.
I've personally always taken the no unsold tokens statement as all remaining tokens are effectively burnt.  However it does need better clarification because it does create a "?".
Also presumably they would continue expanding as the company generates revenue regardless of the ICO revenue because well, it is a business.

Well, the L3+ miners are available again at bitmain. I was wondering why gigawatt didnt put new L3+ miners in stock. In between the lines it seems that the amount of space/power is the limiting factor now?

Question for giga-watt: i have participated in the presale. This should garantee a spot for my equipment right? Could you comment on this?
And can i order miners at bitmain and send them to you directly?

Like other people in this thread, I'm somewhat confused about what happens when not all the tokens are sold.

Here https://bitcointalksearch.org/topic/m.19061396 is stated:
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

And here https://bitcointalksearch.org/topic/m.19413188
"There is no minimum amount: the first facilities have already been completed and the new units are currently being built with Giga Watt's own funds. This is why we can issue tokens for as low capacity as we need."

And here https://bitcointalksearch.org/topic/m.19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

So, especially the second quote suggests that the funds are already there to build the new facilities, and they will be built, regardless of how many tokens will be sold. So if ICO ends with 15 million sold tokens, quote 2 suggests the remainder of Batch 4 (but also maybe 5 and 6) will be built anyway. With or without tokens.

But, the whitepaper states: "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens. Consequently, the clients who do not own tokens will have to rent them from their owners."

So.. Batch 4 will be built with already present funds, but (when 15M tokens are raised) GW will only rent 15 - 5.4(B1) - 0.9(B2) - 4.5(B3) = 4.2 MW ? Leaving 10.8MW unused ? Or will GW generate / sell the remaining 10.8M tokens on the marketplace themselves ? When, and at what price ?

In case any one is wondering..
I asked about sending my miner 2 weeks ago after buying WTT, response below:

==========
Hi xxxxx,
Thanks for the message.
We can sell you the S9 today if you are able to pay BTC.
These are scheduled to ship from the manufacturer mid-August.
Please let us know if you'd like to buy and we will send the BTC invoice.

For existing miners, we are maxed out on power for taking hosting at this time so the discussion is only for future power batches, likely in September (batch 3).
==========

So you probably want to confirm first before deciding if you're buying from them or buying and shipping there.
They're currently out of miners to sell at the moment though..