Topic: Gigamining / Teramining - page 107. (Read 216450 times)
To all interested parties:
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
Very reasonable -- thanks.
To all interested parties:
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
That's cool. Thanks for your dedication and for setting a clear course!
To all interested parties:
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
+1
I suspect these sorts of bonds will be phased out over the long run to something that better reflects investment in companies moreso than hashing speed.
To all interested parties:
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
count me in.
To all interested parties:
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
Gigamining is a perpetual mining bond. When you purchase a gigamining bond, you are entitled to future coupon payments, nothing more. There are no motions, ownership in a company or anything else like what you would see with a stock.
To Burt's point, he is correct that contracts should not be changed. I have thought long and hard about this and I feel the same way. I did not ask the bond holders to change the contract when difficulty was going down and I feel the inverse should hold true.
That being said, I am considering creating a new security, where holders of gigamining could volunteer to upgrade their gigamining bonds to the new bond, plus a fee. This would both keep the existing gigamining contract intact and would allow for an upgrade path for those interested in doing so.
All of this is still many months away, so until then, gigamining will remain at 5Mh/s. When the mini rigs arrive, we will still celebrate with 110% coupon payments for three weeks. Looking beyond, gigamining will continue to be both the largest and best perpetual mining bond in existence.
Best regards,
gigavps
I see, if that is going to be the case, I feel that's kind of dissapointing that gigavps is honest. And this would certainly not provide the best value for money Gigamining strives to represent. I don't see any compelling reason to adhere strictly to these "contracts should be contracts rules". I would say Gigamining would be free to break its contract and do whatever it likes.
FTFY.Really, people, you can't have a contract that you enforce when it suits you, and whinge and complain about and asked to be changed when it doesn't suit you. If you think the contract should be different, make an asset with a different contract, but don't expect contracts to be changed after the fact. Only governments do that.
We are on the fronteer, and inventing and creating as we go along. The entire possebility of being able to raise a motion which people can vote on implicates that changing the contract is a very real option.
People who are short the stock don't actually own or possess the stock, so why would they be entitled to the enforcement of the contract?
is it too late for me to invest?
Did you increse the coupon to 5.5 Mh/s?
Man, this is sweet
Man, this is sweet
I see, if that is going to be the case, I feel that's kind of dissapointing that gigavps is honest. And this would certainly not provide the best value for money Gigamining strives to represent. I don't see any compelling reason to adhere strictly to these "contracts should be contracts rules". I would say Gigamining would be free to break its contract and do whatever it likes.
FTFY.Really, people, you can't have a contract that you enforce when it suits you, and whinge and complain about and asked to be changed when it doesn't suit you. If you think the contract should be different, make an asset with a different contract, but don't expect contracts to be changed after the fact. Only governments do that.
We are on the fronteer, and inventing and creating as we go along. The entire possebility of being able to raise a motion which people can vote on implicates that changing the contract is a very real option.
That is a fair point, but isn't that always a risk when there is the possibility to raise a motion? And the motion would also serve as sort of an early warning, before anything would be changed.
I see, if that is going to be the case, I feel that's kind of dissapointing that gigavps is honest. And this would certainly not provide the best value for money Gigamining strives to represent. I don't see any compelling reason to adhere strictly to these "contracts should be contracts rules". I would say Gigamining would be free to break its contract and do whatever it likes.
FTFY.Really, people, you can't have a contract that you enforce when it suits you, and whinge and complain about and asked to be changed when it doesn't suit you. If you think the contract should be different, make an asset with a different contract, but don't expect contracts to be changed after the fact. Only governments do that.
We are on the fronteer, and inventing and creating as we go along. The entire possebility of being able to raise a motion which people can vote on implicates that changing the contract is a very real option.
Nice And the price is picking up again too 
And the price is picking up again too
To all gigaminers:
The coupon payment is out.
Best,
gigavps
The coupon payment is out.
Best,
gigavps
I see, if that is going to be the case, I feel that's kind of dissapointing that gigavps is honest. And this would certainly not provide the best value for money Gigamining strives to represent. I don't see any compelling reason to adhere strictly to these "contracts should be contracts rules". I would say Gigamining would be free to break its contract and do whatever it likes.
FTFY.Really, people, you can't have a contract that you enforce when it suits you, and whinge and complain about and asked to be changed when it doesn't suit you. If you think the contract should be different, make an asset with a different contract, but don't expect contracts to be changed after the fact. Only governments do that.
We are on the fronteer, and inventing and creating as we go along. The entire possebility of being able to raise a motion which people can vote on implicates that changing the contract is a very real option.
I see, if that is going to be the case, I feel that's kind of dissapointing that gigavps is honest. And this would certainly not provide the best value for money Gigamining strives to represent. I don't see any compelling reason to adhere strictly to these "contracts should be contracts rules". I would say Gigamining would be free to break its contract and do whatever it likes.
FTFY.Really, people, you can't have a contract that you enforce when it suits you, and whinge and complain about and asked to be changed when it doesn't suit you. If you think the contract should be different, make an asset with a different contract, but don't expect contracts to be changed after the fact. Only governments do that.
Thank you Giga.
Your words sounds like fresh air here, you know how to transmit confidence to your investors. Right now, I am investing heavily on your bonds putting my money where my mouth is.
Your words sounds like fresh air here, you know how to transmit confidence to your investors. Right now, I am investing heavily on your bonds putting my money where my mouth is.
To all gigaminers:
There has been a lot of news / discussion in recent days regarding new equipment coming out from Butterfly Labs. I have confirmed with BFL that this information is indeed correct and have submitted an order for 4 more mini rigs. This will bring gigamining up to a total of 8 mini rigs (204Gh/s), 14 BFL Singles (12Gh/s) and around 90 GPUs (36Gh/s).
There have also been multiple requests regarding whether the terms of the gigamining contract will change. This will not be a possibility until BFL is ready to deliver their new ASIC products. I am considering was should be done in this area, but for now the contract will stay at 5Mh/s. BFL has not given any public time frames around delivery of these products so I feel it's best to take a wait and see approach.
In the interim, gigamining is still fulfilling its contract to it's bondholders and this will continue. Mini rigs will be arriving this week (how many times have a heard this already) so expect to see pictures and video of them in the DC if they arrive.
Best,
gigavps
There has been a lot of news / discussion in recent days regarding new equipment coming out from Butterfly Labs. I have confirmed with BFL that this information is indeed correct and have submitted an order for 4 more mini rigs. This will bring gigamining up to a total of 8 mini rigs (204Gh/s), 14 BFL Singles (12Gh/s) and around 90 GPUs (36Gh/s).
There have also been multiple requests regarding whether the terms of the gigamining contract will change. This will not be a possibility until BFL is ready to deliver their new ASIC products. I am considering was should be done in this area, but for now the contract will stay at 5Mh/s. BFL has not given any public time frames around delivery of these products so I feel it's best to take a wait and see approach.
In the interim, gigamining is still fulfilling its contract to it's bondholders and this will continue. Mini rigs will be arriving this week (how many times have a heard this already) so expect to see pictures and video of them in the DC if they arrive.
Best,
gigavps
Finally, a voice of reason
Thank you, Giga.Congrats on the new rigs as well.
Is Gigamining going to change in any way to reflect this?
I don't think so.If you go few pages back you can read that I actually proposed such a solution, to increase the hashrate/bond as the difficulty grows and Gigamining is buying more efficient hardware for the same price...
But all I got in reply, was a bunch of furious "economy experts" jumping onto me and shouting "that these are bonds!" and so they are meant to be worth zero in awhile...
Well, if they are meant to be worth zero, then they obviously will - so just deal with it!
I see, if that is going to be the case, I feel that's kind of dissapointing to be honest. And this would certainly not provide the best value for money Gigamining strives to represent. I don't see any compelling reason to adhere strictly to these "bonds should be bonds rules". I would say Gigamining would be free to "invent" a kind of financial product that would suit the operation and stakeholders best.
And
To all gigaminers:
There has been a lot of news / discussion in recent days regarding new equipment coming out from Butterfly Labs. I have confirmed with BFL that this information is indeed correct and have submitted an order for 4 more mini rigs. This will bring gigamining up to a total of 8 mini rigs (204Gh/s), 14 BFL Singles (12Gh/s) and around 90 GPUs (36Gh/s).
There have also been multiple requests regarding whether the terms of the gigamining contract will change. This will not be a possibility until BFL is ready to deliver their new ASIC products. I am considering was should be done in this area, but for now the contract will stay at 5Mh/s. BFL has not given any public time frames around delivery of these products so I feel it's best to take a wait and see approach.
In the interim, gigamining is still fulfilling its contract to it's bondholders and this will continue. Mini rigs will be arriving this week (how many times have a heard this already) so expect to see pictures and video of them in the DC if they arrive.
Best,
gigavps
There has been a lot of news / discussion in recent days regarding new equipment coming out from Butterfly Labs. I have confirmed with BFL that this information is indeed correct and have submitted an order for 4 more mini rigs. This will bring gigamining up to a total of 8 mini rigs (204Gh/s), 14 BFL Singles (12Gh/s) and around 90 GPUs (36Gh/s).
There have also been multiple requests regarding whether the terms of the gigamining contract will change. This will not be a possibility until BFL is ready to deliver their new ASIC products. I am considering was should be done in this area, but for now the contract will stay at 5Mh/s. BFL has not given any public time frames around delivery of these products so I feel it's best to take a wait and see approach.
In the interim, gigamining is still fulfilling its contract to it's bondholders and this will continue. Mini rigs will be arriving this week (how many times have a heard this already) so expect to see pictures and video of them in the DC if they arrive.
Best,
gigavps
That is great to hear! Can't wait to see the pictures. Thanks for keeping us informed.
Will more bonds be on the market to cover the cost of the new hardware?
Hi redbeans2012,
I will not be issuing anymore bonds to make these purchases. It seems the recent price rise along with a couple other events have led to instability in the price of mining bonds. I will continue to make coupon payments and release news of new gigamining happenings when the time is appropriate.
Best,
gigavps
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