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Topic: Gigamining / Teramining - page 4. (Read 216459 times)

vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 25, 2014, 01:23:14 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
legendary
Activity: 3038
Merit: 1660
lose: unfind ... loose: untight
March 19, 2014, 01:08:00 PM
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.
legendary
Activity: 2618
Merit: 1007
March 19, 2014, 12:44:02 PM
Are shares still publicly available?
No.
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.
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
March 19, 2014, 11:51:20 AM
Are shares still publicly available?
No.
You could redeem mine, since I didn't sign anything so far.
And no, shares cannot be transferred.
legendary
Activity: 2618
Merit: 1007
March 19, 2014, 10:50:33 AM
You could redeem mine, since I didn't sign anything so far.
full member
Activity: 213
Merit: 102
March 19, 2014, 10:43:44 AM
Are shares still publicly available?
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 19, 2014, 09:52:20 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.

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.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 11, 2014, 07:21:36 AM
Big pay-day today. Thanks James.

You are welcome.
hero member
Activity: 563
Merit: 501
betwithbtc.com
March 10, 2014, 08:03:33 PM
Big pay-day today. Thanks James.
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
March 10, 2014, 02:21:55 PM
Smiley ! Smiley !
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 10, 2014, 01:04:05 PM
Very nice to see the uptick in investment returns from these! Smiley

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.
donator
Activity: 3108
Merit: 1166
March 10, 2014, 06:54:06 AM
Very nice to see the uptick in investment returns from these! Smiley
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 06, 2014, 12:19:39 AM
Those are antminers correct?

They are indeed. 540 of them. The picture only shows 5 of the 20 racks.
legendary
Activity: 1400
Merit: 1000
I owe my soul to the Bitcoin code...
March 05, 2014, 11:14:06 PM
That is a thing of beauty.  Shocked

Those are antminers correct?
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 05, 2014, 09:25:08 PM
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 04, 2014, 05:09:17 PM
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
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 04, 2014, 09:52:39 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
vip
Activity: 1358
Merit: 1000
AKA: gigavps
March 04, 2014, 09:50:27 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.

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.

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.
legendary
Activity: 2114
Merit: 1031
March 04, 2014, 08:54:38 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?

Smiley  Good things come to those who wait.
full member
Activity: 231
Merit: 100
March 04, 2014, 07:12:58 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
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