Gigamining / Teramining - page 117. | Bitcointalksearch.org

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: sunnankar on June 10, 2012, 10:29:22 PM

Quote from: Timbo925 on June 10, 2012, 04:49:03 PM

I at least hope it wont affect much on the price. Bought in in this bon @ 1.47 so another drop would really hurt my ROI. Undecided

What type of financial analysis did you do to determine that 1.47 BTC was a good deal?

Well considering the second bonds were sold at 1.50. It sounds like a deal. There are funds being publicly traded on the GLBSE that bought in around that price point.

Quote

By my numbers I think 1.3 BTC might even be significantly overvalued. Kind of interesting to see how the market works, isn't it?

From 1.5 to 1.3 in less than a month with 40k shares. That's a lot of market value they've lost investors that bought in @1.5 during the second round.

Was hoping to see some growth during this expansion not a contraction.

sunnankar

legendary

Activity: 1031

Merit: 1000

Quote from: Timbo925 on June 10, 2012, 04:49:03 PM

I at least hope it wont affect much on the price. Bought in in this bon @ 1.47 so another drop would really hurt my ROI. Undecided

What type of financial analysis did you do to determine that 1.47 BTC was a good deal?

By my numbers I think 1.3 BTC might even be significantly overvalued. Kind of interesting to see how the market works, isn't it?

redbeans2012

hero member

Activity: 887

Merit: 1000

Quote from: jamesg on June 10, 2012, 09:21:46 PM

Quote from: bitcoiners on June 10, 2012, 03:10:05 PM

Quote from: Daily Anarchist on June 09, 2012, 08:58:19 PM

Quote from: jamesg on June 09, 2012, 06:40:01 PM

Gigamining is moving to 200Gh in bonds.

More to come.....

I'm curious how this works. When you first issued bonds you had an IPO and sold X amount at like 1 BTC per bond, right?

How do you go about selling new bonds? Do you simply place a sell order on the open market and get people to buy them? If so, at what price? Or do you have specific individuals that buy them? And if so, at what price? I'm just curious about how things work.

I'd like to see this answered. At what price point are you planning on releasing the bonds? The bond price seems to have been hit hard just within the last 24 hours alone.

The entire sale was to a couple private investors.

Can you disclose the price or no?

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: jamesg on June 10, 2012, 09:21:46 PM

Quote from: bitcoiners on June 10, 2012, 03:10:05 PM

Quote from: Daily Anarchist on June 09, 2012, 08:58:19 PM

Quote from: jamesg on June 09, 2012, 06:40:01 PM

Gigamining is moving to 200Gh in bonds.

More to come.....

I'm curious how this works. When you first issued bonds you had an IPO and sold X amount at like 1 BTC per bond, right?

How do you go about selling new bonds? Do you simply place a sell order on the open market and get people to buy them? If so, at what price? Or do you have specific individuals that buy them? And if so, at what price? I'm just curious about how things work.

I'd like to see this answered. At what price point are you planning on releasing the bonds? The bond price seems to have been hit hard just within the last 24 hours alone.

The entire sale was to a couple private investors.

Ah I see, thanks!

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: bitcoiners on June 10, 2012, 03:10:05 PM

Quote from: Daily Anarchist on June 09, 2012, 08:58:19 PM

Quote from: jamesg on June 09, 2012, 06:40:01 PM

Gigamining is moving to 200Gh in bonds.

More to come.....

I'm curious how this works. When you first issued bonds you had an IPO and sold X amount at like 1 BTC per bond, right?

How do you go about selling new bonds? Do you simply place a sell order on the open market and get people to buy them? If so, at what price? Or do you have specific individuals that buy them? And if so, at what price? I'm just curious about how things work.

I'd like to see this answered. At what price point are you planning on releasing the bonds? The bond price seems to have been hit hard just within the last 24 hours alone.

The entire sale was to a couple private investors.

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: Sukrim on June 10, 2012, 06:11:24 PM

Early investors already got quite some dividends already...

Yes, but drops like this cancel out what you've made. Or at least but a big dent in it.

Quote

Anyways, seems like a cheap opportunity to get some well managed hashes from the market atm!

agreed!

Sukrim

legendary

Activity: 2618

Merit: 1007

Early investors already got quite some dividends already...

Anyways, seems like a cheap opportunity to get some well managed hashes from the market atm!

bitcoiners

sr. member

Activity: 322

Merit: 250

edit dup

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: ?? on ??

sub(marine)

lol

Now another sell off! We are around 50 bonds away from 1 BTC!

bitcoiners

sr. member

Activity: 322

Merit: 250

Another big sale. This is getting exciting...

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: Timbo925 on June 10, 2012, 04:49:03 PM

I at least hope it wont affect much on the price. Bought in in this bon @ 1.47 so another drop would really hurt my ROI. Undecided

Not much on the buy side either with a decent wall on the ask in the 1.3ish range. Another 100 bond sale will push this into 1 BTC territory.

I'm still curious when these next 20k in bonds are going on sale and for how much since they are already going to be paid on.

Edit: Weren't the last ones sold @ 1.5 with 100 bond minimum? I would assume it would have to be close to this or you screw your early investors.

Timbo925

sr. member

Activity: 352

Merit: 250

I at least hope it wont affect much on the price. Bought in in this bon @ 1.47 so another drop would really hurt my ROI. Undecided

bitcoiners

sr. member

Activity: 322

Merit: 250

Also, I see on your website you are planning on paying out on all 40k bonds this week? How do you pay out on bonds that haven't even been sold?

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: Daily Anarchist on June 09, 2012, 08:58:19 PM

Quote from: jamesg on June 09, 2012, 06:40:01 PM

Gigamining is moving to 200Gh in bonds.

More to come.....

I'm curious how this works. When you first issued bonds you had an IPO and sold X amount at like 1 BTC per bond, right?

How do you go about selling new bonds? Do you simply place a sell order on the open market and get people to buy them? If so, at what price? Or do you have specific individuals that buy them? And if so, at what price? I'm just curious about how things work.

I'd like to see this answered. At what price point are you planning on releasing the bonds? The bond price seems to have been hit hard just within the last 24 hours alone.

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: Cablez on June 10, 2012, 08:27:20 AM

@giga - Will be real cool to double your capacity with just 4 mid-size boxes! Grin

Will you show any pics of all the goodness?

Hi Cablez,

Pics are coming soon. When you are doing things that have never been done before, you always run into bumps in the road. I can disclose that gigamining will soon be running on one of the cheapest electricity rates in the united states and that I am investing heavily to make sure gigamining is the best mining bond to ever exist.

Gigamining's 200Gh will be fully backed by FPGAs and GPUs. We are the first in line to receive mini rigs.

Best,
gigavps

JWU42

legendary

Activity: 1666

Merit: 1000

@cablez

Take a look at http://gigamining.com/ and review the embedded SS. It will help explain further I think...

Cablez

legendary

Activity: 1400

Merit: 1000

I owe my soul to the Bitcoin code...

Thank you gentlemen for your answers, this is becoming much more clear.

One final question about this statement:
"This is a perpetual bond where the coupon is tied to the amount of production at that difficulty."

So it seems that when you purchase a bond it locks you in to a difficulty level while you hold that bond.

How would all this be kept track of as it looks like an accounting nightmare with so many bonds out there?

Thanks again for the help.

@giga - Will be real cool to double your capacity with just 4 mid-size boxes! Grin

Will you show any pics of all the goodness?

VEscudero

donator

Activity: 335

Merit: 250

Bitcoin, Ripple & Blockchain pioneer

Quote from: sunnankar on June 10, 2012, 01:07:44 AM

So as the Bitcoin economy continues to 'grow-up' I think we will only see an increase of professionalism from the participants and ventures.

I hope so.
In the last months there has been a clear trend in that direction but still there is a long way to walk.

sunnankar

legendary

Activity: 1031

Merit: 1000

Quote from: stochastic on June 09, 2012, 10:05:03 PM

Quote from: sunnankar on June 09, 2012, 09:01:29 PM

...Should he default on payments then a lawsuit could be filed...

It is very hypothetical if you think any judge is going to hear a case about losing a virtual currency. I consider anything denominated in bitcoin as a game and I treat it as such. This game gets bigger and better everyday and we are all participants that contribute to the design and the gameplay.

There is nothing hypothetical about it and there is a long tradition in the common law of countries such as the United States, UK, Australia and many other jurisdictions. For a contract to be formed there must be offer, acceptance and consideration. Consideration can be anything of value promised to another when making a contract and can take the form of money, physical objects, services, promised actions, abstinence from a future action, and much more.

In this case, the promise of a coupon payment equal to the processing power relative to the difficulty is of value and pretty easily determinable for damages purposes.

On another note, yesterday I had lunch with two attorney friends and Bitcoin was the topic of conversation. Both mainly focus on asset protection and estate planning but one has extensive experience securitizing all types of assets. And we did have some tangent discussions on the securitization of mining bonds.

So as the Bitcoin economy continues to 'grow-up' I think we will only see an increase of professionalism from the participants and ventures.

stochastic

hero member

Activity: 532

Merit: 500

Quote from: sunnankar on June 09, 2012, 09:01:29 PM

...Should he default on payments then a lawsuit could be filed...

It is very hypothetical if you think any judge is going to hear a case about losing a virtual currency. I consider anything denominated in bitcoin as a game and I treat it as such. This game gets bigger and better everyday and we are all participants that contribute to the design and the gameplay.

Topic: Gigamining / Teramining - page 117. (Read 216450 times)