Topic: Gigamining / Teramining - page 41. (Read 216450 times)

What would the estimated value of a Gigamining share be?
Gigavps is selling 11 shares of Teramining for .25BTC, so if we use .023 as the value of one Teramining share that would put the value of Gigamining at 0.091BTC if it's converted to Teramining. Add to that say a little under 0.13BTC in held dividends per share that have yet to be paid, and the apparent value of a Gigamining share is about 0.22BTC. If you want, round it up to 0.25 if you believe the option to do the paid upgrade to Teramining adds value.

So, at present time each Gigamining share is worth about US$4. If you have enough shares that you're past the break even point with respect to your costs, you might as well go through the process.

I was going to ask the same... anyway I just got a better Idea... is it possible to give my shares to a very close friend of mine who lives in the US to claim the shares instead of me. AFAIK for the US citizens it costs something like 10-15$

In the end giga put us all in a very bad situation...

Hi burger,

It is not possible.

Best,
James

Is it possible for someone else to claim others bonds? For example if 2GOOD trusts me to claim his bonds and I'll write his on my legal document?

First off I never expected you to offer any ownership in the equipment or the company I simply congratulated you on a well thought out well timed way to get your hands on some very expensive very profitable equipment and virtual little to no cost to you on the purchase of said equipment.  It is obvious that your bond holders paid for most of it and the hashing power that they have/will have will pay for the rest not to mention those that will not (and some will not) try to continue on with giga/teramining.  I myself struggled with this decision having been one who had his identity stolen and fought will bill collectors and credit score agencies for 2 years to get my credit back to where it should be.  I didn't want to give my information to anyone.

I noticed the lowered price again kodos for trying to be good to the community that was good to you.  This has been a long hard road and choosing the road you took we will just have to live with it to get what we have back out. 

OK so as to what Teramining should be... why can't you re-evaluate in 6 months and perhaps offer (if your projections hold) continued hashing for something like I don't know just pulling numbers out my ass because no one can say what BTC will be worth in 6 months... something like 0.1 BTC per/share per/month or something .. we pay you to keep going for another month or something of that nature... you can obviously take BTC for the upgrade to Teramining so why not (if still profitable for you and us) you take more in 6 or 8 months whenever you decide the initial contract will end?  Granted something like this might require you to do lots more paperwork but if still profitable?  Just throwing a thought out there.

Naelr

You mean nothing besides the perjured document (the claim form) you file.

You can get documents notarised at most Solicitors (their company name will usually say "Solicitor and Notary public" or similar).  There's a fixed fee for it (varies per So;icitor) - usually in the £25 - £75 range.  There are other people besides SOlicitors who can notarise - but SOlicitors are liekly to be the most accesible ones for you.  Check for any extras they charge before getting it done - you don't want to pay them £1 per sheet for photocopies for example.  You'll need to take along proof of identity (passport is ideal) and the originals of any ID documents being copied/sent (they MAY insist on photocopying the documents themselves).  You'll then swear under oath that the information contained in the affidavit is correct.

You then need to get the documents apostilled (which means a central body confirms that the notarisation is valid).  This has to be done by post with the Legalisation Office of the Foreign and Commonwealth Office (you used to be able to get it done in person at Milton Keynes but that option is longer available).  Think the cost of apostille is £35 per document from memory.  Just google for "apostille UK" and I'm sure you'll find the details for that.

It's perfectly legal to copy documents such as passports.  They are explicitly listed as things which can be apostilled - and apostille is pretty much only used when sending documents overseas.  I have no idea if other countries have laws against sending copies of passports - but it's fine from the UK.

My objection to this procedure has always been that the costs are disproportionate for smaller investors and that they're being passed on to investors when the mistake was Giga's.  There's nothing illegal (in the UK) about what is being requested - and were disclosure of the requirement for such documentation made in advance of accepting funds it would be perfectly reasonable.

Hi bixcoin,

I apologize for Quentin not responding. There were technical errors on his end where email when to spam unintentionally. Please re-forward your request.

Best,
James

I claimed payment on Dezember 26, with a copy to you James. I did not get an answer from you, nor your lawyer.
My Gouvernment (Germany) say it is illegal to copy or scan my ID.
Also, as I made clear before, all the things you guys ask would cost me estimately 150€. I am not even sure if I get this much as a return.
Its ridiculous, your so called lawyer doesnt even reply, and if he does, it's just the standard text from your website.
Is this the way you treat people that trusted you with their money?
I am really dissapointed and cant believe there are people still investing in your operations.

Hi Lucidize,

There are other UK residents who have started and completed the claims process without issue.

Please email Quentin: qpage at mylawyr dot com

Best,
James

Can anyone offer advice to a UK resident wishing to begin the claims process?

• How to get a document notarized (and costs?)

• Instead of a social security number do we provide NI number?

• Is it legal for to copy UK ID documents to send to another country?

I am not sure why anyone would not chose to upgrade. When ASICs arrive, a single 5Mh/s unit will output many multiples less than it does now.

I quoted Meni before about this. His idea was:


I am willing to do the same.

That didn't answer his question. What happens to people who choose not to upgrade?

Hi Naelr,

I have been saying for months now that without a buyback clause, there is no way to offer Teramining as a perpetual agreement. I have never been willing to offer any ownership in either equipment or company, this has not changed.

I am offering both a free and paid upgrade path for those who want ASIC. I have also lowered the upgrade price.

Please tell me what you think Teramining should be and we can discuss it.

Best,
James

So then what happens to those that choose to not upgrade?  You will obviously retain all the mining hardware.. do those guys just keep getting hashing power until you decide to turn off the rigs?  This just looks like you upgraded thousands of dollars worth of hardware for just 6 months of hashing... for us that is ... you obviously will keep the rigs running and be mining BTC for as long as it is still profitable for you.  Bravo on making out like a bandit on the hardware ... but that is it... no more anything? 

Naelr

Hi Naelr,

Sorry if I didn't answer this before. Teramining ends after the term of each individual contract has received 6 months of payments. While we are still waiting for the TOS from Quentin, I have been contemplating making the term longer.


The mining contract is over after the term.


I will probably not be making any more offers after Teramining.


You absolutely cannot trade your Teramining contracts as this would classify the contract as something that would need to be registered with a bunch of 3 letter agencies.


Thank you for sending in your claim.

Best,
James

Giga,

So unless I missed it you never said what happens, after we upgrade, after 6 months is up?  If I read the contract right and understand what your trying to do we upgrade from gigamining to teramining paid or otherwise, hope we make more btc then we paid in, then??? the contract is fulfilled and no more shares for us?  we start over? are we hoping for some kind of share trading ?  What is the future of teramining after 6 months?

I sent in my claim so I am almost ready to make a decision I just want to know what is next ... after the 6 months.


Naelr