I'm glad to start seeing BFL deliver equipment and am looking forward to moar!
Did the mug come with it?
Topic: Gigamining / Teramining - page 19. (Read 216456 times)
Did the mug come with it?
I'll have a more detailed update next week for Teraminers, just wanted to leave a little something here.
It's a 5Gh/s beast at 30w humming away on my desk as I type this.
I'm glad to start seeing BFL deliver equipment and am looking forward to moar!
It's a 5Gh/s beast at 30w humming away on my desk as I type this.
I'm glad to start seeing BFL deliver equipment and am looking forward to moar!
James... work your magic and let the cards fall where they may!
I'm hoping to have an email to all Teraminers some time next week that will explain a lot and fully layout the plan ahead. Your continue support means a lot.
James... work your magic and let the cards fall where they may!
I'm hoping to have an email to all Teraminers some time next week that will explain a lot and fully layout the plan ahead. Your continue support means a lot.
I decided to not take the paid upgrade path but free path. This is because my experience on gigamining resulted on this investment to not be profitable. So, I think that looking at those weak data gigavps gave to us, I'm not willing to put more BTC or money in his hands. Taking risks with all this conditions is just a way to pay BFL stuff to giga, in my opinion.
Looking at those maths made a long time by him and even any other here and seeing that BFL might result on more delays... I'm going to stuck in free path upgrade. So, wish me luck mates... ¬¬
Looking at those maths made a long time by him and even any other here and seeing that BFL might result on more delays... I'm going to stuck in free path upgrade. So, wish me luck mates... ¬¬
GOOD LUCK JOHNLU
I, however; chose the paid upgrade path... I am a gambling man and hell what are a few BTC anyway... I got scammed for something like 50 or so a while back, what is a few more BTC. If it works out I will at least double what I paid for upgrade... if it don't ... I donated 6.5 BTC more towards something bigger then me! James... work your magic and let the cards fall where they may!
Naelr
I decided to not take the paid upgrade path but free path. This is because my experience on gigamining resulted on this investment to not be profitable. So, I think that looking at those weak data gigavps gave to us, I'm not willing to put more BTC or money in his hands. Taking risks with all this conditions is just a way to pay BFL stuff to giga, in my opinion.
Looking at those maths made a long time by him and even any other here and seeing that BFL might result on more delays... I'm going to stuck in free path upgrade. So, wish me luck mates... ¬¬
Looking at those maths made a long time by him and even any other here and seeing that BFL might result on more delays... I'm going to stuck in free path upgrade. So, wish me luck mates... ¬¬
When exactly will the upgrade window close?
Friday, April 26, 2013 at or around 8am EDT.
How is this date chosen?
According to that spreadsheet I should get ~47BTC with the free upgrade and ~130 with the paid, which costs me 46BTC.
So if I go with the paid one I'll have 84BTC more at the end of the 9 months, vs. the 47BTC of the free upgrade
The problem here is that we have to decide being blind, because we don't know when or if this is going to begin, but in case we choose the paid upgrade, we have to pay the BTC on the following 5 days
So if I go with the paid one I'll have 84BTC more at the end of the 9 months, vs. the 47BTC of the free upgrade
The problem here is that we have to decide being blind, because we don't know when or if this is going to begin, but in case we choose the paid upgrade, we have to pay the BTC on the following 5 days
I would like to say that I think the number is the spreadsheet are overly optimistic.
I would run your simulations with the following assumptions:
- It will take three months to ramp up to the 9mh/s per teramining contract after which time the 9 month clock will start
- I would plan on the network being 1,300Th/s by the end of the year
You'd need to figure in at least 50% growth in the network this month alone....
According to that spreadsheet I should get ~47BTC with the free upgrade and ~130 with the paid, which costs me 46BTC.
So if I go with the paid one I'll have 84BTC more at the end of the 9 months, vs. the 47BTC of the free upgrade
The problem here is that we have to decide being blind, because we don't know when or if this is going to begin, but in case we choose the paid upgrade, we have to pay the BTC on the following 5 days
So if I go with the paid one I'll have 84BTC more at the end of the 9 months, vs. the 47BTC of the free upgrade
The problem here is that we have to decide being blind, because we don't know when or if this is going to begin, but in case we choose the paid upgrade, we have to pay the BTC on the following 5 days
here is a small calculation of upgrating (paid or free) from gigamining to teramining
https://docs.google.com/spreadsheet/ccc?key=0Apjfkh4baK_FdDNTNm00b1J4RDBUenJwTDFQU0M3OUE&usp=sharing
i hope there is no error
please correct me if so
of course, this calculation is only valid if the asic miner equipment is available
I believe using the average difficulty is incorrect.https://docs.google.com/spreadsheet/ccc?key=0Apjfkh4baK_FdDNTNm00b1J4RDBUenJwTDFQU0M3OUE&usp=sharing
i hope there is no error
please correct me if so
of course, this calculation is only valid if the asic miner equipment is available
Imagine this simplified thought experiment:
Month 1, difficulty 10
Month 2, difficulty 100
Month 3, difficulty 1000
Your calculation takes the average of these (1110/3 = 370 difficulty) and runs with that for 3 months. Then you get 3/370 = 0.0081 Bitcoins.
But in reality, what would happen is: The first month you get 1/10 Bitcoins, the second month 1/100, the third month 1/1000, making 0.111 Bitcoins.
Now this is simplified, but the conclusion is that the profit would likely be a bit more than you state in your spreadsheet.
Here's an edited version:
https://docs.google.com/spreadsheet/ccc?key=0Aginfn56EnJmdGtqNFFlUktxNnZBVDZ2dGM1dzFOSnc#gid=8
You can make a personal copy and change the amount of shares you have, or the starting difficulty, or the percentage increase in difficulty, if you want to play around.
your solution is better
thank you
So if I upgrade now I only get 9 months of contract mining with maybe less than half of the equipment running? It's very confusing. I cannot find the conversion information anymore.
I just want some divs returned to me to cover my original investment and nobody around here has any straight answers. I just want to know what are the chances of having my original gigamining investment returned from teramining? I never intended on keeping these shares until they expired, that was not the original contract. So I'm being forced into a corner of having to either /stick with dying gigamining / switch to a free upgrade which may return nothing / pay out a load more bitcoins for no guaranteed return.
Is there nobody else in the same predicament here?
I just want some divs returned to me to cover my original investment and nobody around here has any straight answers. I just want to know what are the chances of having my original gigamining investment returned from teramining? I never intended on keeping these shares until they expired, that was not the original contract. So I'm being forced into a corner of having to either /stick with dying gigamining / switch to a free upgrade which may return nothing / pay out a load more bitcoins for no guaranteed return.
Is there nobody else in the same predicament here?
Haha, we are all in the same boat here. I think I can answer your question about covering your original investment: Forget it!
here is a small calculation of upgrating (paid or free) from gigamining to teramining
https://docs.google.com/spreadsheet/ccc?key=0Apjfkh4baK_FdDNTNm00b1J4RDBUenJwTDFQU0M3OUE&usp=sharing
i hope there is no error
please correct me if so
of course, this calculation is only valid if the asic miner equipment is available
I believe using the average difficulty is incorrect.https://docs.google.com/spreadsheet/ccc?key=0Apjfkh4baK_FdDNTNm00b1J4RDBUenJwTDFQU0M3OUE&usp=sharing
i hope there is no error
please correct me if so
of course, this calculation is only valid if the asic miner equipment is available
Imagine this simplified thought experiment:
Month 1, difficulty 10
Month 2, difficulty 100
Month 3, difficulty 1000
Your calculation takes the average of these (1110/3 = 370 difficulty) and runs with that for 3 months. Then you get 3/370 = 0.0081 Bitcoins.
But in reality, what would happen is: The first month you get 1/10 Bitcoins, the second month 1/100, the third month 1/1000, making 0.111 Bitcoins.
Now this is simplified, but the conclusion is that the profit would likely be a bit more than you state in your spreadsheet.
Here's an edited version:
https://docs.google.com/spreadsheet/ccc?key=0Aginfn56EnJmdGtqNFFlUktxNnZBVDZ2dGM1dzFOSnc#gid=8
You can make a personal copy and change the amount of shares you have, or the starting difficulty, or the percentage increase in difficulty, if you want to play around.
So if I upgrade now I only get 9 months of contract mining with maybe less than half of the equipment running? It's very confusing. I cannot find the conversion information anymore.
I just want some divs returned to me to cover my original investment and nobody around here has any straight answers. I just want to know what are the chances of having my original gigamining investment returned from teramining? I never intended on keeping these shares until they expired, that was not the original contract. So I'm being forced into a corner of having to either /stick with dying gigamining / switch to a free upgrade which may return nothing / pay out a load more bitcoins for no guaranteed return.
Is there nobody else in the same predicament here?
I just want some divs returned to me to cover my original investment and nobody around here has any straight answers. I just want to know what are the chances of having my original gigamining investment returned from teramining? I never intended on keeping these shares until they expired, that was not the original contract. So I'm being forced into a corner of having to either /stick with dying gigamining / switch to a free upgrade which may return nothing / pay out a load more bitcoins for no guaranteed return.
Is there nobody else in the same predicament here?
And I wouldn't give this guy a single satoshi more money. Who knows when and how he changes the contract next time?
Well, I think you should somehow include the probability that BFL doesnt ship/work at all. This is quite possible.
here is a small calculation of upgrating (paid or free) from gigamining to teramining
https://docs.google.com/spreadsheet/ccc?key=0Apjfkh4baK_FdDNTNm00b1J4RDBUenJwTDFQU0M3OUE&usp=sharing
i hope there is no error
please correct me if so
of course, this calculation is only valid if the asic miner equipment is available
edit
some corrections are made
https://docs.google.com/spreadsheet/ccc?key=0Apjfkh4baK_FdDNTNm00b1J4RDBUenJwTDFQU0M3OUE&usp=sharing
i hope there is no error
please correct me if so
of course, this calculation is only valid if the asic miner equipment is available
edit
some corrections are made
Does anybody has a very simple estimation on what we can expect in terms of dividens with each "PCU at 9 million hashes per second each". I need to decide if a make the free or paid upgrade
Thanks!
At current difficulty, each 9MH/s PDU will generate about 0.0035BTC/week. Without knowing how much difficulty will increase prior to BFL getting their hardware it's hard to say, but it's likely that you'll be looking at around 0.002BTC/week or lower for the first couple weeks, decreasing rapidly after that.Thanks!
Thanks! I'll make my math now
How is your calculation going? Which one is profitable, free upgrade or paid upgrade?
Thank you.
This came up fast, so sales are closed?
Sales closed when GLBSE went down. When exactly will the upgrade window close?
Friday, April 26, 2013 at or around 8am EDT.
...after that, will teramining start mining?
...and teraminers will get their dividends ?
I too would like this answered. Will Terramining start mining after the update window closes?
Naelr
edit: nevermind I found a previous post where James said
Can this not be done instead of the proposed forced upgrade deadline?
To be quite honest, I have disadvantage many of the most faithful of Gigaminers who claimed early and upgraded two months ago. This was certainly not my intention and it will be rectified.
For those who have not upgraded, I have given fair warning for the close of the upgrade process. The upgrade process will reopen when the equipment received can accommodate more Teraminers.
Part of the compensation for turning in Gigamining early will be that Teramining will start mining with equipment received WITHOUT the 9mo clock running.
This came up fast, so sales are closed?
What do you mean by "sales"? Jump to: