Topic: ⚡⛏️[ANN] Giga Watt: Best Home for your Mining. Starts today! - page 116. (Read 203353 times)

The escrow is provided by Perkins Coie, a reputable international law firm. Giga Watt will get the funds released from escrow only upon the completion of the facilities and issuance of the respective number of tokens.

The escrow for this Token Launch is actually Perkins Coie - welll-known company with strong reputation.

The sooner you order them, the less time you will spend it queue for miners. The demand is overflowing.

That is correct, we've asked you to do so. We need to verify your account, and make sure the funds will be going to the right place.

Hello,
We have PM'd you. Let's try to resolve your situation ASAP as this is unacceptable from our side. We really apologize for such delay and awaiting your email to help you out.

@ Flomess - Thanks for answer. I was thinking about that by myself and I deffinitely agree with these 2 points:
- it's understandable they didn't want/need to develop a token
- it's understandable they needed someone to take care of the ICO itself, so they can focus on the construction/hardware part.
but what's not understandable and it's pretty much the most important thing:
- why does cryptonomo have to keep the money IN THESE CIRCUMSTANCES, when cryptonomo is a way less known entity than Giga Watt. Why exactly would you trust them with, literarly, MILLIONS of $$$, based on the tokens sold so far ( IF THE NUMBERS ARE REAL ) ? Once again, I'm not asking why a company/individual have to use an escrow. I'm asking why a well known company would ever use an entity that's LESS KNOWN, relatively newly created and pretty much nobody ever heard of it and also let them handle an escrow worth of millions $$$

Both on the website and in their White Paper PDF it says "The funds will be released from escrow in step with the completion of facilities". Considering cryptonomo have around $7mil in escrow and Giga Watt haven't really build any new Giga Pods ( on July 15th should be the 1st one completed), what exactly stops cryptonomo keep all these millions without releasing any escrow, EVER ?
Remember, the first building is supposed to be ready on 15th july, so in more than 1 month, which means cryptonomo will be holding 7mil+ (what they got so far) + all the money people will send till 15th July and ONLY THEN they SHOULD release the first batch from escrow, once the Giga Pod from 15th July is finished.

They could have just hired these guys to take care of the ICO, to manage their website and so on just WITHOUT the escrow part. Waiting an answer from cryptonomo aswell, if possible.

I don't think it's about the escrow security but about the fact that the WTT didn't really want to bother with the development of a token and didn't need to either.

Might seem strange in an era where everyone is selling his own kind of blockchain innovation but a team that has a "real life" product can rightfully entrust a third party with the token emission and ICO managment.

I'd have a question: Why would Giga-watt, which is an older, bigger an more trustable entity, put the money into a smaller and almost unknown entiti's escrow, like cryptonomo ?
In normal situations, the most trusted and older entity/user keeps and secures the money, as it's less likely to run away with the money.

I mean, in this case, Giga-watt built something, have few years history etc, but if the money are kept by cryptonomo, which is basically a way lesser entity with pretty much 0 history, then the escrow ain't safe at all, is it ? Or, in any case, less safe compared to the situation when Giga-watt took the money direcrtly and kept them by themselves.

Hello guys,

I am very new to mining, hence I will ask following questions. They will probably sound noobish. But hey, why not ask greatest community in the world for support.

I have several options to consider and I don't know which one to choose. Recently I started to consider if I should join giga-watt WTT token crowd sale and invest some money in mining. Wtt website appeared conveincing to me and whole return on investment structure seemed to be straight forward(if you see any underwater difficulties let me know). So here are following options:

   1.   Buying 880 watt tokens to host miner(880$)  gives you an access to mine at 0.033$ kWh+ ASIC L3+ miner(1550$) from giga watt. Total investment of 2430$. With return of 10,577.89$ a year roughly. As what they advertise.
   2.   Buying 1500 watt tokens to host miner(1500$) gives you an access to mine at 0.033$ kWh + ASIC S9 miner(1600$) from giga watt. Total investment of 3100$. With potential return of 4,628.51$. As what they advertise.

I am not 100% sure but I think giga-watt themselves are quite limited in choices of what they can mine i think currently they support mining of BTC, XMR, LTC and ETH. But they don't have Panda miners in stock to mine ETH.

So my main concern is that I can't exactly figure out which one of those methods will be more efficient and what are the risks involved. And of course which method would you choose.  Roll Eyes
In this particular moment of time returns are fucking amazing, below are current retes:

Time Frame         LTC Coins                      BTC (LTC/BTC at 0.01076000)                USD (BTC at $2,920.02)                   Power Cost (in USD)          Pool Fees (in USD)            Profit (in USD)
Hourly                0.05310134                                     0.00057137                                     $1.67                                               $0.02                             $0.02                       $1.64
Daily                  1.27443215                                     0.01371289                                     $40.04                                             $0.58                             $0.40                        $39.47
Weekly              8.92102505                                        0.09599023                                   $280.29                                           $4.03                             $2.80                       $276.26
Monthly               38.23296452                                   0.41138670                                    $1,201.26                                        $17.28                           $12.01                      $1,183.98
Annually            465.16773496                                    5.00520483                                    $14,615.30                                      $210.24                         $146.1                      $14,405.06


In best possible scenario I can break even in: 62.20 Day(s)
Thats of course is magical number, rest of miner lifetime would be profitabe and I would be able to buy more hardware on the go.. and may be invest in more miners and more tokens to host those in giga-watt. So effectively, if everything comes down quite closely to projection, this is an opportunity to build my own little mining income farm in existing giga-watt facilities.. Unless I am counting something wrong in here.

I am seriously considering mining LTC with Antminer L3+ at giga-watt facilities, but lets say I'd be able to start no earlier then October if everything comes down in best possible scenario. Even if we double in difficulty and price of bitcoin goes down to 1k price of LTC would drop accordingly to 0.005btc. I am still going to be able to break even in: 922.79 Day(s)

And thats if we look at worst scenario here. Will this happen? I dont know but risk is worth it i think. Again if lifetime of this miner will last for 2.5 years(some say its around 18 months) as advertised I can consider myself lucky if it holds for 2.5 years.. But if we hit best scenario, with price of litecoin higher then 5$, then I can break even on my investment..

So lets look at potential returns in worst scenario to break even in 922 days on investment of 2430$:

Time Frame           LTC Coins                  BTC (LTC/BTC at 0.00500000)         USD (BTC at $1,000.00)         Power Cost (in USD)       Pool Fees (in USD)            Profit (in USD)
Hourly                  0.02619345                                       0.00013097                                  $0.13                                        $0.02                            $0.00                        $0.11
Daily                     0.62864274                                      0.00314321                                  $3.14                                        $0.58                            $0.03                        $2.54
Weekly                  4.40049917                                      0.02200250                                  $22.00                                      $4.03                            $0.22                        $17.75
Monthly                18.85928214                                     0.09429641                                  $94.30                                      $17.28                          $0.94                        $76.07
Annually               229.45459932                                   1.14727300                                  $1,147.27                                  $210.24                        $11.47                      $925.56

So my risks here are:
1. Difficulty
2. Price
3. Lifetime of miner
4. Government policy.

All of these 4 have very high odds and I cant take current price and difficulty as a solid return plan for what I will get back, current figures are based on the miner working at this particular moment of time, and my opportunity will only come around in October. I know that things can go both ways, and LTC can just go higher and returns will be even higher then planned, but I am looking at risks here not profits..

Thanks in advance to people who will respond.

It sounds like they are trying to verify who you are and whether or not you actually did send them coin. So what's the problem with providing them that info? If you don't have it, perhaps that's the problem.

This is the internet, where we can be anyone we want to be, until someone actually wants proof...

Why did you even send money to the account if you did not intend to buy tokens? This is not a scam, their support team is small and can't deal with all the problems atm.

Is it worthwhile to buy miners already before we get access to our token?

They are out of stock for PandaMiners atm. The first batch of PandaMiners will be operative after July 31. They'll probably get more batches meanwhile, so keep an eye on their stocks.

You got me. Looking into it.

There are no stocks on stock market. However you can purchase WTT tokens through cryptonomos.com/wtt

You think so? Here are pictures/videos:
https://www.instagram.com/gigawatt_mining/

Also, you are welcome to sign up for Open House tour and see the facilties for yourself!
giga-watt.com/promo/openhouse

I think august

You can buy what miners they have in stock from https://www.giga-watt.com/  They go out of stock pretty fast, so better watch when they restock whatever miners you want. At the moment they have S9 and L3+ in stock.

In this Project, is it possible to buy mining euipment, miners? Or do we place our miner equipment in the facility personally?