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Topic: Gigamining / Teramining - page 25. (Read 216456 times)

member
Activity: 62
Merit: 10
...
April 02, 2013, 12:12:46 PM
Apologies I missed that update.  That said, those stats don't show much about the unclaimed at all.  I got the impression from your post a month ago you would think about compromises or alternate options. 
vip
Activity: 1358
Merit: 1000
AKA: gigavps
April 02, 2013, 11:56:47 AM
It's been a month.  No update from James.  So James, what is the plan?  Where is the published plan of how to move forward and the claims stats? 

I did make an update a little while ago.

As of Monday, 4,520.44880453 BTC have been claimed and paid to Gigaminers. This includes 1,191 individual weekly payments made over 29 transactions through the Bitcoin network.

Since more claims come in every day, I am continuing to waiting to release more stats. Doesn't make much sense to release number that continue to change every week.

With the recent rise in BTC prices, more claims are coming in. Claims had slowed somewhat when I originally posted about releasing the stats but this is no longer the case.

I'm hesitant to post facts/stats that are changing every week.

I've also been busy tightening up the mining pool I've built and grappling with the new power requirements for BFL ASIC devices.

sr. member
Activity: 408
Merit: 261
April 02, 2013, 11:23:27 AM
It's been a month.  No update from James.

He must be busy ... not installing his new BFL ASIC rigs.
member
Activity: 62
Merit: 10
...
April 02, 2013, 11:14:21 AM
I would be happy with selling my rights to my claim, but it was expressly stated that would be not be honored by Giga.  I wouldn't be complaining if there was any other solution offered, but everything suggested has been expressly shut down already.  This is me compromising: I understand that BTC has gone up in price since we bought, I understand our funds were most likely converted to USD to buy hardware.  That's why I personally would be fine with taking a USD equivalent of my investment rather than the actual BTC as a refund.  I think James has been pretty clear that going through the claim is the only thing he will accept.  I expect a reply to this with a "make a claim you will get paid" post.

I will be publishing a few things in the next couple of weeks that will demonstrate both what has happened to date, my thoughts on the situation and how we will move forward. I have wanted to give time for the claims process to work, which has happened, and I will be giving more suggestions for the way forward.

Not a single day goes by that I do not think about the past months and the heartache that it has caused those who cannot or have not claimed. It is my top priority to make sure gigamining and teramining remain intact so that plans can be made for a day when the regulatory environment is better understood.

Please bear with me as this is the busiest time in my businesses short history.

Best,
James

It's been a month.  No update from James.  So James, what is the plan?  Where is the published plan of how to move forward and the claims stats? 
member
Activity: 61
Merit: 10
April 01, 2013, 07:08:35 AM
gigavps,

are you being told when your order is shipped? I'd like to upgrade my shares right before you get BFL stuff on your hands. Also, I'd like you to keep us updated about every new event.

Thanks.

I would also like to do it this way. For me it's the sensible thing to do.
sr. member
Activity: 471
Merit: 252
March 31, 2013, 06:41:59 PM
gigavps,

are you being told when your order is shipped? I'd like to upgrade my shares right before you get BFL stuff on your hands. Also, I'd like you to keep us updated about every new event.

Thanks.
No orders shipped yet, and probably none will be till the end of the week.

Thanks 2GOOD, but it's supposed to be gigavps who answers those questions I made.

I think people who claimed and are waiting for teramining upgrade should know when he receives BFL machines. I'm upgrading right before he receives them, I can't do this if he doesn't give us this information.
hero member
Activity: 547
Merit: 531
First bits: 12good
March 30, 2013, 03:59:49 PM
No orders shipped yet, and probably none will be till the end of the week.
sr. member
Activity: 471
Merit: 252
March 30, 2013, 01:07:26 PM
gigavps,

are you being told when your order is shipped? I'd like to upgrade my shares right before you get BFL stuff on your hands. Also, I'd like you to keep us updated about every new event.

Thanks.
donator
Activity: 3108
Merit: 1166
March 29, 2013, 06:14:35 AM
BFL - March 28th Update from Twitter feed - All together for readability.

I had planned on updating everyone with a video of a board hashing here in KC tonight, but I haven't been able to get that together yet, so I'm probably going to have to push it off until tomorrow. We are targeting a start of shipment next week, but I'm not quite ready to commit to that at the moment giving our past estimates. It's imminent, though.

We may miss our power targets, that's been part of the hold up. we think there's a problem with the power consumption and we're trying to figure out where it's having an issue. However, in the interests of time, we are going to be shipping what we have and going back and fixing while we are shipping.

The power is still far less than any other unit, so it's not like it's somethign crazy or anything, but it's not 1w/GH and we're trying to locate the source of the power drain.

The rest of the 6 wafers, we have been holding off on the last 5 layers for the rest of the chips to be sure we don't need to make a tweak in the metal layer due to the power issue. I think we've pretty much settled that the power issue is NOT in the chip.

If the cooling becomes an issue, like I said we'd scale it back and ship multiple units.

Worst case is 195w, but the power systems aren't rated to handle that, so we'd back off the hashrate before we'd let it get that high.

We will ship the purchased hashrate regardless of what it ends up costing us.


Source: http://www.reddit.com/r/Bitcoin/comments/1b8621/bfl_update_maybe_a_video_tomorrow_shipping/ hat tips to milone & astrobleem on r/Bitcoin

See some interesting comments, like:

...which is a nice perk for those very early pre-orders. Plug in your own power supply and get two for the price of one if you don't mind monkeying around with it on your own.

... they're going to underclock the fully populated boards for the SC singles. So, if you were an early pre-order, you have basically two full units ready to go if you want to plug in a bigger power supply and hope you don't burn the boards out too fast.

Edit to add: Estimated next difficulty: 7248349 (+8.3%) in 7 days and 15.2 hours

Edit to add: Butterfly Labs (BFL) Bitforce SC ASIC Test 
hero member
Activity: 728
Merit: 500
In cryptography we trust
March 27, 2013, 09:18:07 PM
To be fair, to put a a scammer label on somebody you need to have intention as a starting point.
In the case of gigamining I don't see clear intention.
However, James did change the rules and I'll have to wait before I made my final judgment about him.  Undecided

No, lots of people without the initial intention to scam now have scammer tags. It's just that at some point they fuck up or it becomes so lucrative to scam others they can no longer help themselves.
newbie
Activity: 30
Merit: 0
March 27, 2013, 08:42:17 PM
To be fair, to put a a scammer label on somebody you need to have intention as a starting point.
In the case of gigamining I don't see clear intention.
However, James did change the rules and I'll have to wait before I made my final judgment about him.  Undecided
member
Activity: 72
Merit: 10
March 27, 2013, 07:42:14 PM
I think he means people go way to easy on scammers here. I know you can't do much if the majority plays along. But in a healthy world this thread would be flooded with annoyed customers. I mean at least a post per customer per day until this is fixed. The scammer would be exposed wherever he tried to do business. Unfair behavior would not be tolerated and nobody would stop until it is fixed.

I don't think you or Justin00 is wrong. However many things depend on different points of view. I would correct your statement a bit to make my assumption. Majority (>50%) of shareholders claimed shares back. In other words it is widely adopted principle of Democracy. According to that principle if the majority is satisfied with the situation, it creates further direction for the business. And people who did not claim shares back are the minority.

It does not matter if this thread is healthy or not, but there are always annoyed customers in any kind of business activity, in most cases there are two sides of the trade: buyer and seller, and in most cases both cannot win in a short term.

P.S. I do not have strict position if Gigavps decisions are fair or unfair, I do not have enough reputation or even competence to judge that. I did my own due diligence and evaluated my own risks. The outcome was very much positive: to spend one hundred Euro in order to get back couple of thousands Euro in BTC value (expected value of Teramining is not included) and be exposed to identity theft, alternative time cost or whatever risk I am/will be facing. Nevertheless, I would think for smaller shareholders due diligence could show completely different outcome.
hero member
Activity: 728
Merit: 500
In cryptography we trust
March 27, 2013, 07:12:03 PM

I do


Please then do not hesitate and enlighten me with your understanding Wink

I think he means people go way to easy on scammers here. I know you can't do much if the majority plays along. But in a healthy world this thread would be flooded with annoyed customers. I mean at least a post per customer per day until this is fixed. The scammer would be exposed wherever he tried to do business. Unfair behavior would not be tolerated and nobody would stop until it is fixed.
member
Activity: 72
Merit: 10
March 27, 2013, 07:03:16 PM

I do


Please then do not hesitate and enlighten me with your understanding Wink
member
Activity: 72
Merit: 10
March 27, 2013, 07:02:24 PM
He'll accept them as attached PDF files of the scanned docs, no need to send hard copies unless requested I believe, my claim went through without np.

But what is the point for an appostile? You could easily "photoshop" stamp to make it look real.

Anyway I think I missed the announcement that it is enough to send scanned copy  Undecided
hero member
Activity: 728
Merit: 500
In cryptography we trust
March 27, 2013, 06:56:56 PM
can't believe some of you people

like seriously.. no wonder you all get scammed / ripped off so often... you guys just make it so easy for them...
and each time someone takes advantage of you, it just inspires 10x more people to do the same.

The sad thing is I bet most of you are actually Adults (and yip free to do what you like with your $$) but yeah.... its sickening.

I do not understand your problem?

I do
member
Activity: 72
Merit: 10
March 27, 2013, 06:54:50 PM
can't believe some of you people

like seriously.. no wonder you all get scammed / ripped off so often... you guys just make it so easy for them...
and each time someone takes advantage of you, it just inspires 10x more people to do the same.

The sad thing is I bet most of you are actually Adults (and yip free to do what you like with your $$) but yeah.... its sickening.

I do not understand your problem?
full member
Activity: 186
Merit: 100
March 27, 2013, 05:34:11 PM
My claim was processed very quickly once submitted, i am awaiting monday for dividends to be paid.

+1 so far!
legendary
Activity: 910
Merit: 1000
★YoBit.Net★ 350+ Coins Exchange & Dice
March 27, 2013, 04:12:30 PM
can't believe some of you people

like seriously.. no wonder you all get scammed / ripped off so often... you guys just make it so easy for them...
and each time someone takes advantage of you, it just inspires 10x more people to do the same.

The sad thing is I bet most of you are actually Adults (and yip free to do what you like with your $$) but yeah.... its sickening.
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