Gigamining / Teramining - page 4. | Bitcointalksearch.org

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: Meni Rosenfeld on March 25, 2014, 01:57:12 PM

The difficulty is now so high that paying the coupons regularly is no longer worth the trouble, for me and I suspect also for the bondholders. I will therefore move forward with buying back the bonds.

The original buyback clause stated the price will be 120% of the GLBSE highest recent traded price. GLBSE no longer exists so that's irrelevant. However, I've noticed that during the time the bond was traded, it went for about 40% of the ELE (extrapolated lifetime earnings). Therefore I believe a buyback price of 55% of the current ELE is fair.

The formula for calculating the ELE for a 1 MH/s bond is

RemainingUnmintedBTC * Hashrate * SecondsInDay * DaysInTwoWeeks / (2^32 * 2016 * Difficulty) =
8439175 * 1000000 * 86400 * 14 / (4294967296 * 2016 * 5006860589) = 0.0002355

55% of that is 0.1296 mBTC per bond, a total of 2.0173536 BTC.

I intend to go forward with the payout in the next few days. If anyone has a reason why I should not, speak now or forever hold your peace.

As I've stated before, once Meni offered a buyback for puremining, I'd do the same.

This means that, for the 11 people still holding Gigamining contracts, I'll be sending the final payment of 0.648 mBTC per 5Mh/s contract.

If you are one of the final 11, you have two options:

1) Upgrade to Teramining and see your payment increase 120x not including the next 200Th/s to arrive.

2) Take the final payment.

You have till Monday.

Best,
James

jbreher

legendary

Activity: 3024

Merit: 1640

lose: unfind ... loose: untight

Quote from: jamesg on March 19, 2014, 10:52:20 AM

Recent performance:

Code:

03/03 - 98.66% <- was posted wrong above
03/10 - 88.10%
03/17 - 85.68%

Eligius' luck hasn't been the best recently but they get us closest to newly minted coins and the pool side of things has been rock solid.

Luck is lucky - evens out. Statistics are statistical - they even out. I see no reason to try to chase 'the lucky pool'.

Quote

News of the week is that VPS will be running another 200Th of equipment starting from on or about April 15th.

Outstanding!

Quote

I have still not heard anything about our other 64Th/s and will be digging into this further this week.

With our most recent acquisition, VPS will be running a total of 315Th/s consuming 464kW. This will be, without a doubt, one of the largest mining operations on the planet.

To continue our expansion and to ensure that VPS can continue to reinvest for Teraminers, we are also looking to build out our own facility and are in the early stages of putting together, what I believe will be, the second largest space specifically designed for bitcoin mining.

Apologies for not getting an email out to Teraminers. The quick pace of setting up new equipment, acquiring more new hardware and working on a new facility has taken up a vast amount of work and personal time.

Understood. Thanks for all your hard work.

Sukrim

legendary

Activity: 2618

Merit: 1006

Quote from: BurtW on March 19, 2014, 12:51:20 PM

Quote from: Surf Capital Management on March 19, 2014, 11:43:44 AM

Are shares still publicly available?

No.

Quote from: Sukrim on March 19, 2014, 11:50:33 AM

You could redeem mine, since I didn't sign anything so far.

And no, shares cannot be transferred.

I did not sign anything that I can't do that. All I own so far is control over the mail address + bitcoin address that was used to buy them originally on GLBSE. Since then all that came was a lot of blah blah trying to get me to send my ID documents and sign as well as notarize a statement that I won't sell shares.

BurtW

legendary

Activity: 2646

Merit: 1136

All paid signature campaigns should be banned.

Quote from: Surf Capital Management on March 19, 2014, 11:43:44 AM

Are shares still publicly available?

No.

Quote from: Sukrim on March 19, 2014, 11:50:33 AM

You could redeem mine, since I didn't sign anything so far.

And no, shares cannot be transferred.

Sukrim

legendary

Activity: 2618

Merit: 1006

You could redeem mine, since I didn't sign anything so far.

Surf Capital Management

full member

Activity: 213

Merit: 102

Are shares still publicly available?

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Recent performance:

Code:

03/03 - 98.66% <- was posted wrong above
03/10 - 88.10%
03/17 - 85.68%

Eligius' luck hasn't been the best recently but they get us closest to newly minted coins and the pool side of things has been rock solid.

News of the week is that VPS will be running another 200Th of equipment starting from on or about April 15th.

I have still not heard anything about our other 64Th/s and will be digging into this further this week.

With our most recent acquisition, VPS will be running a total of 315Th/s consuming 464kW. This will be, without a doubt, one of the largest mining operations on the planet.

To continue our expansion and to ensure that VPS can continue to reinvest for Teraminers, we are also looking to build out our own facility and are in the early stages of putting together, what I believe will be, the second largest space specifically designed for bitcoin mining.

Apologies for not getting an email out to Teraminers. The quick pace of setting up new equipment, acquiring more new hardware and working on a new facility has taken up a vast amount of work and personal time.

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: GoWest on March 10, 2014, 09:03:33 PM

Big pay-day today. Thanks James.

You are welcome.

GoWest

hero member

Activity: 563

Merit: 501

betwithbtc.com

Big pay-day today. Thanks James.

BurtW

legendary

Activity: 2646

Merit: 1136

All paid signature campaigns should be banned.

!

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: Otoh on March 10, 2014, 07:54:06 AM

Very nice to see the uptick in investment returns from these!

I am working to strike more deals with vendors with equipment ready to go.

I'm also glad to see you with smiley faces and exclamation points in your posts.

I hope I have proven and will continue to prove my loyalty to Teraminers.

Otoh

donator

Activity: 3024

Merit: 1105

Very nice to see the uptick in investment returns from these!

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: Cablez on March 06, 2014, 12:14:06 AM

Those are antminers correct?

They are indeed. 540 of them. The picture only shows 5 of the 20 racks.

Cablez

legendary

Activity: 1400

Merit: 1000

I owe my soul to the Bitcoin code...

That is a thing of beauty. Shocked

Those are antminers correct?

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: jamesg on March 04, 2014, 10:52:39 AM

Looks like the fee wasn't big enough. I'll rebroadcast the transaction if it isn't confirmed without another 24h.

Thanks for the heads up and I'll make sure the fee is increased going forward.

Best,
James

Both Gigamining and Teramining txns have confirmations now. We'll try to keep that from happening in the future.

Best,
James

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: Naelr on March 04, 2014, 08:12:58 AM

James,

Speaking of Drama free revenues... got my weekly payment last night at 10:06 pm and as of this morning at 7:12 am still 0 confirmations. Any ideas?

Naelr

Looks like the fee wasn't big enough. I'll rebroadcast the transaction if it isn't confirmed without another 24h.

Thanks for the heads up and I'll make sure the fee is increased going forward.

Best,
James

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: jbreher on March 04, 2014, 12:57:40 AM

BFL being BFL is no real surprise. At least that's what I assume you mean.

Both BFL and Hashfast are late and they are the providers of the 64Th.

Quote from: jbreher on March 04, 2014, 12:57:40 AM

The elegius page is interesting. But I am unclear on what is being shown. Does this indicate VPSs hashrate has increased by a factor of around 10x in the last week? Or are you moving from your proprietary pool to elegius, mostly over the last week? Currently puzzled.

Your weekly payouts should be close to 10x once all of the equipment is live. I've purchase 100Th of equipment and our current project is finishing the installation. The manufacturer even delivered AHEAD OF SCHEDULE which put extra pressure on getting everything together, but we are managing.

Quote from: jbreher on March 04, 2014, 12:57:40 AM

I've said it before, but thanks for the regular, drama-free revenues.

I am here to serve those who have supported me and I will continue to do so.

kjlimo

legendary

Activity: 2086

Merit: 1031

Quote from: Naelr on March 04, 2014, 08:12:58 AM

James,

Speaking of Drama free revenues... got my weekly payment last night at 10:06 pm and as of this morning at 7:12 am still 0 confirmations. Any ideas?

Naelr

idea: patience?

Good things come to those who wait.

Naelr

full member

Activity: 231

Merit: 100

James,

Speaking of Drama free revenues... got my weekly payment last night at 10:06 pm and as of this morning at 7:12 am still 0 confirmations. Any ideas?

Naelr

Topic: Gigamining / Teramining - page 4. (Read 216399 times)