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