Topic: Gigamining / Teramining - page 20. (Read 216450 times)

This came up fast, so sales are closed?

Thanks! I'll make my math now

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.

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!

That is the plan/hope.

...after that, will teramining start mining?
...and teraminers will get their dividends ?

Friday, April 26, 2013 at or around 8am EDT.

+1

(I'm down 38.79 btc in Gigamining dividends over the 8 weeks to last Monday, I trust to Gigavps to honor his previous pledge that the early upgraders to Teramining will come out ahead for helping him out by doing so, from this recent comment it appears that he does indeed intend to rectify this.)

When exactly will the upgrade window close?

Well, Gigaminers, it's time to put on your big boy pants.

We might all do well to remember that the Gigamining contract included no mention of an upgrade to Teramining. As such, gigavps can set the terms of the Teramining offer however he deems fit -- at least as far as new entrants into Teramining are concerned. Those of us who have already upgraded are locked in to the previously set terms. Those still not binding VPS under contractual terms could conceivably find themselves out in the cold.

I upgraded to Teramining some time ago. I had thought that the upgrade window's closing was imminent. As a consequence, I've lost out on subsequent Gigamining profits. But I've not been publicly whining about it.

... wait ...

WAAAAAH!

OK, done now.

I've not been happy with some of the twists and turns of this adventure, either. However, BFL's (and previously GLBSE's) performance have dealt us all a significant blow. While I'm not happy about all of gigavps's decisions, I see them as mostly equitable. I see no evidence of him gaming the situation to his best advantage. I continue to trust him to steer this ship.

You should just be happy he REopened the damn upgrade window. This is working out better for you than it is for me.

Thank you!

that is meaning, you will pay for teramining every month some dividends from now on, without time limit of 9 months ?
i accept your compensation offer.

please start teramining, i am waiting for your first payment on may.

BFL upper management is not easy to get a hold of.


I'd assume the same as boonies.


BFL being 6 months late and 6x on power hasn't helped keep existing plans in place. Nevertheless, I'm pushing through these things.

Where there is a will there is a way.

Power issues forced them to redesign boards and create new cases for the ASIC Singles. To stick with the 1/3 shipping plan would to cause even further delays. This is my observation anyways.

And yes, i'm still following this thread

gigavps, have you had any contact with BFL lately? We're all scratching our heads as to why they've decided to ship without using the 1/3 shipping plan. Perhaps you know what the hell is going on over there.

Maybe I'm wrong and they haven't abandoned the plan. Was 1 of the 3 parts "fuck you"?

I'm trying to remember...

Talking about ethics and gigamining in the same post is 

I agree with Epoch. Gigavps, can you explain the reason you are closing teramining upgrades on next friday? I can't see any reason other than you're trying to make people abandon gigamining and its weekly dividends. One more thing I do not understand, the reason to not send gigamining dividends to people who upgrade.

Edit: I read your previous message.

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.

Am I to understand that the choices are:

1) upgrade before Friday and forfeit all future gigamining payments. Receive no gigaming/teramining income until teramining equipment starts trickling in, which (a) we don't know when and (b) don't know how fast and (c) don't know how much. Or,

2) don't upgrade and continue receiving gigamining payments.

The unfortunate reality is that no one, not even BFL, knows when they will start shipping product in significant quantity. They have shipped out a handful of Jalapenos at this point because they have the PCBs and have Single cases to repurpose. My understanding is that they are waiting on revised PCBs and cases for the Singles due to their huge power consumption. Minirigs are a big question mark at this point, as what was supposed to be a 1200W system is now looking to be an 8000W system. Imagine the challenges of putting together something like this. Nothing of significance might ship out for weeks yet, or longer. Bottom line is that no one knows, and shareholders are being asked to upgrade now, twiddle their thumbs, and forfeit all mining payments for an unspecified, undetermined, time.

I would expect that shareholders are entitled to the income generated by their gigamining shares until a time of *their* choosing (unless they are bought out); IIRC those were, essentially, the terms under which they were bought. I won't pretend to be qualified to argue legally, but ethically things appear quite clear. Setting a time limit for the teramining upgrade seems to be an arbitrary and unnecessary restriction. Why not keep the upgrade option open and let people decide for themselves when they want to switch?

For shareholders, it is beneficial for them to hold on to their gigamining shares in the short term, since that's the only way for their income to continue right now. When (weeks? months?) enough teramining equipment arrives to make teramining more profitable than gigamining, that is the time for shareholders to upgrade. This way the spirit of the gigamining contract can be upheld and shareholders would maximize their profits. Can this not be done instead of the proposed forced upgrade deadline?

This is the situation we find ourselves in. I wish I had more information to provide, but I don't.

If you want to stick with Gigamining until the upgrade process is opened again, you are more than welcome to.

As I stated, the Teramining contract will not start until ALL of the equipment has arrived. This means Teraminers will be mining but not at full speed.

I wish I could tell you how long this will be for, or the exact delivery of equipment, but only BFL knows this.