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Topic: Gigamining / Teramining - page 26. (Read 216456 times)

sr. member
Activity: 471
Merit: 252
March 27, 2013, 03:38:05 PM
I would like to share my story as well:

It took me 5 days in total to claim back my Dividends and Shares.

Through Wednesday and Thursday I filled all the documents and got an appostile. Then I sent hard copies through registered mail to Gigavps lawyer and in addition scanned copies of the documents to Gigavps email. On Monday I got full Dividends and the right to upgrade to Teramining when the equipment will be ready.

Total cost was around 120 EUR (100EUR for the documents and 20EUR for the shipping). As you see I am from Europe.

P.S. I could have lowered notarization cost, but I wanted to complete my claim as soon as possible.
I did it all for 30€.
donator
Activity: 3108
Merit: 1166
March 27, 2013, 01:35:49 PM
I would like to share my story as well:

It took me 5 days in total to claim back my Dividends and Shares.

Through Wednesday and Thursday I filled all the documents and got an appostile. Then I sent hard copies through registered mail to Gigavps lawyer and in addition scanned copies of the documents to Gigavps email. On Monday I got full Dividends and the right to upgrade to Teramining when the equipment will be ready.

Total cost was around 120 EUR (100EUR for the documents and 20EUR for the shipping). As you see I am from Europe.

P.S. I could have lowered notarization cost, but I wanted to complete my claim as soon as possible.

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.
member
Activity: 72
Merit: 10
March 27, 2013, 12:12:09 PM
I would like to share my story as well:

It took me 5 days in total to claim back my Dividends and Shares.

Through Wednesday and Thursday I filled all the documents and got an appostile. Then I sent hard copies through registered mail to Gigavps lawyer and in addition scanned copies of the documents to Gigavps email. On Monday I got full Dividends and the right to upgrade to Teramining when the equipment will be ready.

Total cost was around 120 EUR (100EUR for the documents and 20EUR for the shipping). As you see I am from Europe.

P.S. I could have lowered notarization cost, but I wanted to complete my claim as soon as possible.
newbie
Activity: 25
Merit: 0
March 27, 2013, 10:29:09 AM
Quote
I wish I could just sell my shares and have some of my coins returned from the original investment.
That's my wish too....
If I could just sell all my shares for the half amount of money which i have invested in, i would do...

Yes, I would even be willing to forgo all the shares if he would at least back pay the dividends. If only in hindsight.... sigh Sad
legendary
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
March 27, 2013, 07:55:50 AM
Fun fact: As of Monday, 4,520.44880453 BTC have been claimed and paid to Gigaminers.

Fun fact: not mine, and until you keep my coins against my will you remain a thieve.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 27, 2013, 07:44:07 AM
Why would he allow us to do that when he can keep them without paying anyone a single satoshi?

Fun fact: 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.
member
Activity: 101
Merit: 10
March 27, 2013, 07:23:30 AM
Quote
I wish I could just sell my shares and have some of my coins returned from the original investment.
That's my wish too....
If I could just sell all my shares for the half amount of money which i have invested in, i would do...

Same

Why would he allow us to do that when he can keep them without paying anyone a single satoshi?
member
Activity: 61
Merit: 10
March 27, 2013, 07:03:13 AM
Quote
I wish I could just sell my shares and have some of my coins returned from the original investment.
That's my wish too....
If I could just sell all my shares for the half amount of money which i have invested in, i would do...

Same
full member
Activity: 231
Merit: 100
March 26, 2013, 05:49:53 PM
Quote
I wish I could just sell my shares and have some of my coins returned from the original investment.
That's my wish too....
If I could just sell all my shares for the half amount of money which i have invested in, i would do...

If James would allow us I figured out a fair way to be sure all is traded fair and he would be in control of it but there is never any comment on this!  See https://bitcointalksearch.org/topic/m.1606524

Naelr
newbie
Activity: 18
Merit: 0
March 26, 2013, 04:08:41 PM
Quote
I wish I could just sell my shares and have some of my coins returned from the original investment.
That's my wish too....
If I could just sell all my shares for the half amount of money which i have invested in, i would do...
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 26, 2013, 03:22:47 PM
Is the upgrade cost still 0.29btc per share?

No. It was lowered to .25 per.
member
Activity: 61
Merit: 10
March 26, 2013, 02:41:43 PM
So, given the fact that Butterfly Labs has not yet delivered, and may not deliver for several more weeks, if not months, could you at least give some consideration to those of us who have converted to a useless contract (Teramining) and pay out the dividends we would have received had we not converted?

I will visit this issue once BFL delivers all of the VPS equipment and I can assess the difference for each person who upgraded early.

I used the best information available to me to determine when to release the upgrade.

I think this is unfair, the people who could not afford the time nor money to claim early will be punished. The people who did the paid upgrade are in an even worse situation.
I haven't upgraded yet, partly because I was late making a claim and by the time I did bitcoin started climbing. For me personally, an extra 29btc upgrade for a mining operation that doesn't yet exist is excessive. I wish I could just sell my shares and have some of my coins returned from the original investment.

Is the upgrade cost still 0.29btc per share?
hero member
Activity: 563
Merit: 501
betwithbtc.com
March 25, 2013, 12:22:15 PM
So, given the fact that Butterfly Labs has not yet delivered, and may not deliver for several more weeks, if not months, could you at least give some consideration to those of us who have converted to a useless contract (Teramining) and pay out the dividends we would have received had we not converted?

I will visit this issue once BFL delivers all of the VPS equipment and I can assess the difference for each person who upgraded early.

I used the best information available to me to determine when to release the upgrade.

Thank you for taking this into consideration.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 25, 2013, 11:57:39 AM
So, given the fact that Butterfly Labs has not yet delivered, and may not deliver for several more weeks, if not months, could you at least give some consideration to those of us who have converted to a useless contract (Teramining) and pay out the dividends we would have received had we not converted?

I will visit this issue once BFL delivers all of the VPS equipment and I can assess the difference for each person who upgraded early.

I used the best information available to me to determine when to release the upgrade.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 25, 2013, 11:51:43 AM
Tried to send out payments this morning but it seems blockchain.info changed something with their SSL cert that java clients do not like. I have a support request open with piuk and continue to research the issue.

Needless to say, Monday payments will be delayed until this issue is resolved.

Best,
James

Issue resolved. Back payments for new verified claims and weekly payments have been sent out.
donator
Activity: 3108
Merit: 1166
March 25, 2013, 11:50:54 AM
I paid for the early adapters upgrade to Tera because you assured me that it would work out to more than make up for the Giga dividends that I'd then miss, so far it's been 4 payments approx (7 + 7 + 6 + 6 BTC) totaling 26 BTC = about $2,000 that you've held on to, I trust that you will stand by your assurance that this will have been worth it or if it is becoming impractical due to BFL's delays then to scrap that plan, pay past dividends & treat all upgraders as equals when Tera starts.

Here's an Avalon update from the competition btw: http://i.imgur.com/78Iq4Mu.jpg
hero member
Activity: 563
Merit: 501
betwithbtc.com
March 25, 2013, 11:14:13 AM
So, given the fact that Butterfly Labs has not yet delivered, and may not deliver for several more weeks, if not months, could you at least give some consideration to those of us who have converted to a useless contract (Teramining) and pay out the dividends we would have received had we not converted?

I held 2484 shares of Gigamining, which cost me over 1 BTC each, on average. That was a lot of money that went into your pocket, and now you're keeping the dividends to yourself under the guise that "you signed the contract, too bad, so sad," even though it would take nearly zero effort on your part to make the change and pay out the dividends to the rightful shareholders.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 25, 2013, 10:11:12 AM
Tried to send out payments this morning but it seems blockchain.info changed something with their SSL cert that java clients do not like. I have a support request open with piuk and continue to research the issue.

Needless to say, Monday payments will be delayed until this issue is resolved.

Best,
James
donator
Activity: 164
Merit: 100
March 24, 2013, 04:14:47 PM
I appreciate your advice Deprived, and I will look into this option.

I have to say the new guidelines from FINCEN makes this whole ordeal even more absurd. To some degree it indicates that there was never any legal pressure on Gigavps, and that all this verification was really not needed in the first place, but rather a way to prevent people like myself claiming what was theirs under the original contract. I will await Gigavps' answer and plan, and decide on a course of action then.

I feel really bad about this whole situation, not because I could not afford to lose these coins, but since I actually recommended Gigamining to some of my friends and coworkers. They have now lost everything they invested. They could of course also afford losing it all, but it still stings a little. I trusted Gigavps with my coins and felt that he was one of the most upstanding members of the bitcoin community.

Can someone explain to me why Gigavps has not been awarded the scammer tag? I know there is a thread on it, but there was never any real or sensible arguments presented as to how he could get away with it all. This is not a troll question, I'm actually just interested in what specific circumstances made it OK for Gigavps to change the contract, and simply keep the coins? Has there been any proof of government intervention, legal pressure or anything like this at all? Does he have friends in "high places"? Who actually decides who gets the scammer tag?

Gigavps, I would still like to thank you for changing your profile picture. There was something really infuriating about that snug smile of yours, knowing you had all of our increasingly valuable coins Wink

Thank you for bringing this up again.

1. I agree with you that Gigavps should DEFINITELY GET THE SCAMMER TAG
2. I also agree that based on the FINCEN info it is clear that we should request our shares back and otherwise sue him.

Gigavps you better fasten your seat belt.


well stated
member
Activity: 66
Merit: 10
Global Currency for Global Unity
March 22, 2013, 01:22:57 PM
I appreciate your advice Deprived, and I will look into this option.

I have to say the new guidelines from FINCEN makes this whole ordeal even more absurd. To some degree it indicates that there was never any legal pressure on Gigavps, and that all this verification was really not needed in the first place, but rather a way to prevent people like myself claiming what was theirs under the original contract. I will await Gigavps' answer and plan, and decide on a course of action then.

I feel really bad about this whole situation, not because I could not afford to lose these coins, but since I actually recommended Gigamining to some of my friends and coworkers. They have now lost everything they invested. They could of course also afford losing it all, but it still stings a little. I trusted Gigavps with my coins and felt that he was one of the most upstanding members of the bitcoin community.

Can someone explain to me why Gigavps has not been awarded the scammer tag? I know there is a thread on it, but there was never any real or sensible arguments presented as to how he could get away with it all. This is not a troll question, I'm actually just interested in what specific circumstances made it OK for Gigavps to change the contract, and simply keep the coins? Has there been any proof of government intervention, legal pressure or anything like this at all? Does he have friends in "high places"? Who actually decides who gets the scammer tag?

Gigavps, I would still like to thank you for changing your profile picture. There was something really infuriating about that snug smile of yours, knowing you had all of our increasingly valuable coins Wink

Thank you for bringing this up again.

1. I agree with you that Gigavps should DEFINITELY GET THE SCAMMER TAG
2. I also agree that based on the FINCEN info it is clear that we should request our shares back and otherwise sue him.

Gigavps you better fasten your seat belt.


To be fair, I never said I think he should definitely get the scammer tag, although I am inclined to agree with this. I was merely asking for the specific reasons he didn't get it. I am yet to hear one single reasonable and/or relevant argument as to why he should not get the scammer tag (I honestly don't feel the reasons Theymos gave were reasonable). Especially now, in light of the FINCEN guidelines, it is becoming clear to me that this extremely convoluted "claims process" was just a way to pocket my coins and saying "oops, sorry guys my hands are tied!" It's strange how all the other GLBSE listings I had invested in, has had no problems paying back coins or continuing their operations, without a similar claims process.

As I live in Norway, it would be an extremely cumbersome and expensive affair to sue Mr. James Gibson. My 50 shares would of course not be worth the hassle either, and if the end result is me losing my coins, so be it. I will learn from the experience and I will surely be wiser next time.

Like I said earlier, I'm excited to hear this plan he is coming up with. I still have some faint hope that he will actually do the right thing now that FINCEN has cleared a few things up for us. After all, James is human like the rest of us, and I'm sure he knows that it is the actions of a man who makes a scammer or a thief, not some tag on a forum.
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