Gigamining / Teramining - page 100. | Bitcointalksearch.org

DILLIGAF

full member

Activity: 196

Merit: 100

Quote from: bitlane on June 24, 2012, 05:48:00 PM

Quote from: DILLIGAF on June 24, 2012, 05:39:25 PM

Well I have bridge in Brooklyn to sell real cheap to you if you actually believe that load of BS your selling there. Like somehow BFL forced him to take second dip at the idea for an extra $120k at least just days before the big announcement which if what I suspect may be true he knew it was coming that is just plain flat out rip-off, the timing is just way to fishy. Oh and his tidy profit was locked in as soon as people gave them their BTC he charged well over 100% margin 20000shares*1.5btc=30000btc*$5=$150000-$60000 for rig boxes=$90000 profit less the ponzi payments for the last few months on first issue.

Well, be sure to send me the link and information on your GLBSE offering. I am certain with the lessons you have taught us all here, that YOU are going to do IT the right way and show all of these 'scammers' what a REAL Mining Farm Admin can do.

My BTC is waiting and ready to invest, although if you have nothing to back yourself up with, you are welcome to see MY SIG for a hint as to what happened to the LAST GUY who was all talk and no walk.

I look forward to investing in your venture.

Heres one that did it fairly so invest away and thought about it but could not bring myself to do it, you can google my nick + kevin bloody wilson to see what I think of your sig idea.

https://glbse.com/asset/view/BFLS

bitlane

sr. member

Activity: 462

Merit: 250

I heart thebaron

Quote from: DILLIGAF on June 24, 2012, 05:39:25 PM

Well I have bridge in Brooklyn to sell real cheap to you if you actually believe that load of BS your selling there. Like somehow BFL forced him to take second dip at the idea for an extra $120k at least just days before the big announcement which if what I suspect may be true he knew it was coming that is just plain flat out rip-off, the timing is just way to fishy. Oh and his tidy profit was locked in as soon as people gave them their BTC he charged well over 100% margin 20000shares*1.5btc=30000btc*$5=$150000-$60000 for rig boxes=$90000 profit less the ponzi payments for the last few months on first issue.

Well, be sure to send me the link and information on your GLBSE offering. I am certain with the lessons you have taught us all here, that YOU are going to do IT the right way and show all of these 'scammers' what a REAL Mining Farm Admin can do.

My BTC is waiting and ready to invest, although if you have nothing to back yourself up with, you are welcome to see MY SIG for a hint as to what happened to the LAST GUY who was all talk and no walk.

I look forward to investing in your venture.

DILLIGAF

full member

Activity: 196

Merit: 100

Quote from: bitlane on June 24, 2012, 04:48:34 PM

Quote from: DILLIGAF on June 24, 2012, 04:27:22 PM

......Oh well too bad you know what they say about a fool and his money meanwhile gigavps has well north of $100k of your peoples money in his pocket as profit.

..and YOU would be smart to not force his hand into abiding by the terms of his contract and buying back all of the Bonds NOW (HIM with a tidy profit, all nay-sayers at a LOSS).

Wouldn't it make more sense to just STFU and let him adjust to this BFL-Created SHIT STORM and get the rest of his hardware in place, rather than chase him into LEGALLY completing things under his original agreement ?

I bet there are alot of 1.5 BTC/Bond owners right now biting their fingernails.

Gigavps, as I have said before, is BY FAR one of the most trustworthy members in this community and doesn't deserve the shit that he is taking due to circumstances BEYOND his control.

When the hand that YOU feed, bites you...what can you do other than roll with the punches.
BFL are 100% to blame for the entire GLBSE Shitstorm and every other problem they have created with their 'Unicorn'.

Well I have bridge in Brooklyn to sell real cheap to you if you actually believe that load of BS your selling there. Like somehow BFL forced him to take second dip at the idea for an extra $120k at least just days before the big announcement which if what I suspect may be true he knew it was coming that is just plain flat out rip-off, the timing is just way to fishy. Oh and his tidy profit was locked in as soon as people gave them their BTC he charged well over 100% margin 20000shares*1.5btc=30000btc*$5=$150000-$60000 for rig boxes=$90000 profit less the ponzi payments for the last few months on first issue.

bitlane

sr. member

Activity: 462

Merit: 250

I heart thebaron

Quote from: DILLIGAF on June 24, 2012, 04:27:22 PM

......Oh well too bad you know what they say about a fool and his money meanwhile gigavps has well north of $100k of your peoples money in his pocket as profit.

..and YOU would be smart to not force his hand into abiding by the terms of his contract and buying back all of the Bonds NOW (HIM with a tidy profit, all nay-sayers at a LOSS).

Wouldn't it make more sense to just STFU and let him adjust to this BFL-Created SHIT STORM and get the rest of his hardware in place, rather than chase him into LEGALLY completing things under his original agreement ?

I bet there are alot of 1.5 BTC/Bond owners right now biting their fingernails.

Gigavps, as I have said before, is BY FAR one of the most trustworthy members in this community and doesn't deserve the shit that he is taking due to circumstances BEYOND his control.

When the hand that YOU feed, bites you...what can you do other than roll with the punches.
BFL are 100% to blame for the entire GLBSE Shitstorm and every other problem they have created with their 'Unicorn'.

DILLIGAF

full member

Activity: 196

Merit: 100

Quote from: steelhouse on June 24, 2012, 02:27:02 PM

Quote from: jamesg on June 24, 2012, 06:22:09 AM

Quote from: steelhouse on June 24, 2012, 04:09:41 AM

If you remove equipment you are in violation of the bond.

Hi steelhouse,

I have quoted the contract below. Please help me understand where you feel I would be in violation of the bond contract.

Thanks,
gigavps

Quote

The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of 5 MH/s, for as long as they hold the bond. Coupon payments are to be made on Monday for the previous 7 days of mining activity. The issuer can buy back the bond at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 360 hours.

I think if you take equipment offline selling it (still paying the bond) you would be in violation of the bond. People bought 5 mh/s, they did not buy a paper trading scheme. What if next month BTC went to $1000, and you could not pay the 5 gh/s or 0.022 since you sold all the miners. What happens if these asics burn out in a week or they don't work.

But otherwise, I think you owe us really only 5 gh/s. We should have researched about asics. It is like people complaining about how the value of their homes went down or how Goldman Sacs sold the bonds rated AAA.

You did indeed buy paper this mining operation has never had the capacity to fulfill the bond requirements for payout so all of you having been paying yourselves with your own money from the first payment, which is why this was such a really bad idea from the start. Oh well too bad you know what they say about a fool and his money meanwhile gigavps has well north of $100k of your peoples money in his pocket as profit.

imsaguy

vip

Activity: 574

Merit: 500

Don't send me a pm unless you gpg encrypt it.

Quote from: steelhouse on June 24, 2012, 02:27:02 PM

=I think if you take equipment offline selling it (still paying the bond) you would be in violation of the bond. People bought 5 mh/s, they did not buy a paper trading scheme.

Actually no. Review the contract.

Quote

The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of 5 MH/s, for as long as they hold the bond.

The 5 MH/s is only used to determine the coupon payment, nothing more.

steelhouse

hero member

Activity: 717

Merit: 501

Quote from: jamesg on June 24, 2012, 06:22:09 AM

Quote from: steelhouse on June 24, 2012, 04:09:41 AM

If you remove equipment you are in violation of the bond.

Hi steelhouse,

I have quoted the contract below. Please help me understand where you feel I would be in violation of the bond contract.

Thanks,
gigavps

Quote

The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of 5 MH/s, for as long as they hold the bond. Coupon payments are to be made on Monday for the previous 7 days of mining activity. The issuer can buy back the bond at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 360 hours.

I think if you take equipment offline selling it (still paying the bond) you would be in violation of the bond. People bought 5 mh/s, they did not buy a paper trading scheme. What if next month BTC went to $1000, and you could not pay the 5 gh/s or 0.022 since you sold all the miners. What happens if these asics burn out in a week or they don't work.

But otherwise, I think you owe us really only 5 gh/s. We should have researched about asics. It is like people complaining about how the value of their homes went down or how Goldman Sacs sold the bonds rated AAA.

HorseRider

donator

Activity: 1120

Merit: 1001

This is a negative bubble which is going to burst with a fast price recovery. I have already bought some bond.

In the coming future weeks, the bitcoin exchange rate is supposed to stick around 6.5 for a while, and ASIC cannot come to the market so fast, and ciuciu may cover some of his short positions, don't mention that there will also be some dividend.

let us see what will happen next 3 weeks.

HorseRider

donator

Activity: 1120

Merit: 1001

Quote from: piotr_n on June 24, 2012, 09:23:30 AM

Quote from: HorseRider on June 24, 2012, 09:19:57 AM

Now it seems that the bet with this Gigamining bond became interesting. the price plunge so fast that I think someone is too aggressive in expecting the difficulty increasing and ASIC announcement.

I think I heard this already - about 10 days ago, when the price was ~30% higher...
Just before our hero announced that he cannot give more than 5MH/share, because that wouldn't be fair for those who shorted the bonds

A contract is a contract. However, how fast will the ASIC coming out to the world?

Ciuciu doesn't give any margin to those who lend the bond, right?

If ciuciu is so sure about the future, why didn't he just issue some bond which cost him much less time and bitcoin? I think he is just making a short term trend and bluffing those herding bond traders.

piotr_n

legendary

Activity: 2053

Merit: 1356

aka tonikt

Quote from: HorseRider on June 24, 2012, 09:19:57 AM

Now it seems that the bet with this Gigamining bond became interesting. the price plunge so fast that I think someone is too aggressive in expecting the difficulty increasing and ASIC announcement.

I think I heard this already - about 10 days ago, when the price was ~30% higher...
Just before our hero announced that he cannot give more than 5MH/share, because that wouldn't be fair for those who shorted the bonds

HorseRider

donator

Activity: 1120

Merit: 1001

Now it seems that the bet with this Gigamining bond became interesting. the price plunge so fast that I think someone is too aggressive in expecting the difficulty increasing, ASIC announcement or Bitcoin rally.

piotr_n

legendary

Activity: 2053

Merit: 1356

aka tonikt

Quote from: jamesg on June 24, 2012, 08:46:10 AM

Quote from: EskimoBob on June 24, 2012, 08:24:43 AM

stuff about all mining bonds

Hi EskimoBob,
If you would like to discuss all mining bonds, please start your own thread. If you have something specifically about gigamining you would like to add, please feel free.

I think he just wanted to say that you are not screwing your investors more than most the other mining bond issuers.
Though, the recent Gigaminig's lost of value is probably a record on GLBSE, especially considering the volume.
So congrats, man - you managed to turn Gigamining into the best GLBSE business for sorting bonds!
It won't be easy to beat you in this domain... unless the pirate runs away with the money Tongue

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: EskimoBob on June 24, 2012, 08:24:43 AM

stuff about all mining bonds

Hi EskimoBob,

If you would like to discuss all mining bonds, please start your own thread. If you have something specifically about gigamining you would like to add, please feel free.

Thanks,
gigavps

EskimoBob

legendary

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Quality Printing Services by Federal Reserve Bank

Quote from: DiabloD3 on June 23, 2012, 11:25:25 PM

Hey Giga, have you considered replacing Gigamining with a fixed dividend bond instead of per mh? It would go a long way to stabilize GLBSE's wild fluctuations, and clearly you can grow your farm fast enough to keep up.

I do not think any old bFRn aka Turds* will be upgraded to a real FNR or to a bond. It can only happen, when Turd buyers are starting to realize that buying a Turds, when diff is going up, is a really bad idea. Especially a perpetual Turd. As a result, Turd IPO's will start to fail one after another and only then we can see a some changes in the Turd market. As you know, at the moment all the risk is on the shoulders of a Turd holders.

---
* - Because FRN (Floating Rate Notes) are also called "floaters", I am inviting you all to call all the perpetual bitcoin floaters as "Turd(s)".

Turbor

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BitMinter

Quote from: bitcoiners on June 24, 2012, 01:25:05 AM

The issue I have is that there are other bonds already offering a "free" upgrade. I've already lost almost half of my original investment in Giga and now you want me to pay more? Why should I keep this bond?

What were you expecting after ASIC was announced ? A rise Grin

? It was a good (fair) deal for those with high electricity cost, like me. Now with ASIC things will change.

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: DiabloD3 on June 23, 2012, 11:25:25 PM

Hey Giga, have you considered replacing Gigamining with a fixed dividend bond instead of per mh?

Hi DiabloD3,

I have not. If I replaced the current mining bond with a fixed coupon payment, I would be taking on even more risk. For instance, there have been two MAJOR events this week / weekend that could have been a lot worse then they ended up being.

Most know that one of the mini rigs stopped working the first night. BFL quickly took this back and is burn-in testing it with gigamining details at their facilities.
The condenser motor for the HVAC system in FL "shat the bed" on Friday evening. This caused the DC to become fairly hot and everything needed to be shut down for 16 hours while the HVAC contractor came and fixed things. If I had not put systems and procedures in place before hand along with a commercial HVAC contractor account, this event could have caused multiple days of downtime since it happened on the weekend.

Gigamining came with a premium in price for exactly these reasons. I've take on the risk of running and managing the equipment along with all of the pitfalls that come along with it. This is why I decided to share the risk along with the profits.

Best,
gigavps

jamesg

vip

Activity: 1358

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AKA: gigavps

Quote from: steelhouse on June 24, 2012, 04:09:41 AM

If you remove equipment you are in violation of the bond.

Hi steelhouse,

I have quoted the contract below. Please help me understand where you feel I would be in violation of the bond contract.

Thanks,
gigavps

Quote

The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of 5 MH/s, for as long as they hold the bond. Coupon payments are to be made on Monday for the previous 7 days of mining activity. The issuer can buy back the bond at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 360 hours.

steelhouse

hero member

Activity: 717

Merit: 501

I think you should give us 0.5 btc/share of sc equipment and 5 gh/s til then, November 1st. Thus, we get 100mh/s per share, November 1st. Maybe 200 mh/s. But, make it quick I sold almost everything at massive losses. If you remove equipment you are in violation of the bond. Or maybe call in the bond now.

bitcoiners

sr. member

Activity: 322

Merit: 250

The issue I have is that there are other bonds already offering a "free" upgrade. I've already lost almost half of my original investment in Giga and now you want me to pay more? Why should I keep this bond?

DiabloD3

legendary

Activity: 1162

Merit: 1000

DiabloMiner author

Hey Giga, have you considered replacing Gigamining with a fixed dividend bond instead of per mh? It would go a long way to stabilize GLBSE's wild fluctuations, and clearly you can grow your farm fast enough to keep up.

Topic: Gigamining / Teramining - page 100. (Read 216450 times)