Topic: Gigamining / Teramining - page 44. (Read 216450 times)
If BFL has problems and other vendors do not gives us the less profitable to no profit to loss scenarios. Buying Teramining is a bet on BFL. You can also bet on BFL against Micon - but that is another thread.
I was referring to your assertion that now that you can't buy back the bonds using the buyback clause, you'll just change the bond from perpertual+buyback@105% to a 6 month contract. Up until the time that GLBSE closed the contract was still referring to the Teramining bonds as perpetual.
Without a buyback clause, the contract cannot be perpetual. How exactly would you like to come to a buyback price with GLBSE existing?
I'm not complaining or waiving my finger, these are simple facts.
Depending on how I model the timing of the arrival and bringup of the Teramining ASIC hardware relative to the arrival and bringup of hardware for everyone else on the network my calculations show profit anywhere from a loss on the deal to a very high profit - enough to more than cover my losses on the Gigamining contracts.
Assuming the following: Teramining gets ASIC rigs very close to the front of the pack (very early pre-orders), Giga can set them up, get and keep them running in short order and with more skill than the rest of the pack (I trust his technical abbilites), my contracts kick in right off the bat (up to me really to get the upgrade done asap), other ASIC vendors are slower to build out or fail totally to deliver at all (good news on that front!!!) - I show a very good profit on the deal.
In all highly profitable models most all of the profit will be found in the front of the curve and a 6 month deal seems reasonable given reasonable assumptions about network build out and growth once ASICs begin to ship to everyone else.
I believe my calculations are correct given my assumptions. Assumptions are just that.
Assuming the following: Teramining gets ASIC rigs very close to the front of the pack (very early pre-orders), Giga can set them up, get and keep them running in short order and with more skill than the rest of the pack (I trust his technical abbilites), my contracts kick in right off the bat (up to me really to get the upgrade done asap), other ASIC vendors are slower to build out or fail totally to deliver at all (good news on that front!!!) - I show a very good profit on the deal.
In all highly profitable models most all of the profit will be found in the front of the curve and a 6 month deal seems reasonable given reasonable assumptions about network build out and growth once ASICs begin to ship to everyone else.
I believe my calculations are correct given my assumptions. Assumptions are just that.
All said here is true, but atleast an year seems more reasonable. And what happens IF BFL have some problems with the chips (again)....
If BFL has problems, we wait. Looks to me like they are being a lot more informative of late which is a very good sign.
Depending on how I model the timing of the arrival and bringup of the Teramining ASIC hardware relative to the arrival and bringup of hardware for everyone else on the network my calculations show profit anywhere from a loss on the deal to a very high profit - enough to more than cover my losses on the Gigamining contracts.
Assuming the following: Teramining gets ASIC rigs very close to the front of the pack (very early pre-orders), Giga can set them up, get and keep them running in short order and with more skill than the rest of the pack (I trust his technical abbilites), my contracts kick in right off the bat (up to me really to get the upgrade done asap), other ASIC vendors are slower to build out or fail totally to deliver at all (good news on that front!!!) - I show a very good profit on the deal.
In all highly profitable models most all of the profit will be found in the front of the curve and a 6 month deal seems reasonable given reasonable assumptions about network build out and growth once ASICs begin to ship to everyone else.
I believe my calculations are correct given my assumptions. Assumptions are just that.
Assuming the following: Teramining gets ASIC rigs very close to the front of the pack (very early pre-orders), Giga can set them up, get and keep them running in short order and with more skill than the rest of the pack (I trust his technical abbilites), my contracts kick in right off the bat (up to me really to get the upgrade done asap), other ASIC vendors are slower to build out or fail totally to deliver at all (good news on that front!!!) - I show a very good profit on the deal.
In all highly profitable models most all of the profit will be found in the front of the curve and a 6 month deal seems reasonable given reasonable assumptions about network build out and growth once ASICs begin to ship to everyone else.
I believe my calculations are correct given my assumptions. Assumptions are just that.
All said here is true, but atleast an year seems more reasonable. And what happens IF BFL have some problems with the chips (again)....
IMO a time limited contract is OK, because nothing is 4ever, but 6 months... please this is nonsense
What do you suggest? I've offered an outline, if you feel it needs to be changed, tell me how long you think it should be.
I am a practical person but most of the revenue to be made with Teramining is going to be made in the first 6 months.
Double it... ie 1 full year
IMO a time limited contract is OK, because nothing is 4ever, but 6 months... please this is nonsense
What do you suggest? I've offered an outline, if you feel it needs to be changed, tell me how long you think it should be.
I am a practical person but most of the revenue to be made with Teramining is going to be made in the first 6 months.
Depending on how I model the timing of the arrival and bringup of the Teramining ASIC hardware relative to the arrival and bringup of hardware for everyone else on the network my calculations show profit anywhere from a loss on the deal to a very high profit - enough to more than cover my losses on the Gigamining contracts.
Assuming the following: Teramining gets ASIC rigs very close to the front of the pack (very early pre-orders), Giga can set them up, get and keep them running in short order and with more skill than the rest of the pack (I trust his technical abilites), my contracts kick in right off the bat (up to me really to get the upgrade done asap), other ASIC vendors are slower to build out or fail totally to deliver at all (good news on that front!!!) - I show a very good profit on the deal.
In all highly profitable models most all of the profit will be found in the front of the curve and a 6 month deal seems reasonable given reasonable assumptions about network build out and growth once ASICs begin to ship to everyone else.
I believe my calculations are correct given my assumptions. Assumptions are just that.
Assuming the following: Teramining gets ASIC rigs very close to the front of the pack (very early pre-orders), Giga can set them up, get and keep them running in short order and with more skill than the rest of the pack (I trust his technical abilites), my contracts kick in right off the bat (up to me really to get the upgrade done asap), other ASIC vendors are slower to build out or fail totally to deliver at all (good news on that front!!!) - I show a very good profit on the deal.
In all highly profitable models most all of the profit will be found in the front of the curve and a 6 month deal seems reasonable given reasonable assumptions about network build out and growth once ASICs begin to ship to everyone else.
I believe my calculations are correct given my assumptions. Assumptions are just that.
Of course they are relatively happy (better something than nothing) But what will happen after 6 months to your investors who helped you to build the whole mining operation? Everyone will just forget about Gigamining, and you will offer another shortsighted mining contract?
There will not be any offers after Teramining.
So you are sayin' in plain text that I first have to pay 50-70 euros for getin' back my own shares and then pay some more to have the chance to mine for ONLY 6 months - this ROI is close to impossible. Actually most of us bought more gigamining shares just because of the teramining contract and when you announced it here on the first post it was perpetual - so in the end all is just a lie... please don't come out with GLBSE issue because now it's not on the table. And don't forget that the hardware you are upgrading with BFL is bought from our money...
IMO a time limited contract is OK, because nothing is 4ever, but 6 months... please this is nonsense
really sad I had faith at least in you around here....
IMO a time limited contract is OK, because nothing is 4ever, but 6 months... please this is nonsense
really sad I had faith at least in you around here....
That's quite the kick in the gut for those who purchased Gigamining after you announced the upgrade path back when there was no indication that it would not be a perpetual mining bond.
We are in a fluid environment. I'm doing the best I can with the cards I have been dealt. Since you seem to be driving the point home, maybe you can suggest an alternative idea.
Perhaps it was stupid of people to buy Gigamining with the intention of converting it to Teramining before the contract was finalized, but that doesn't make it right to substantially change the offerings and just casually wave your finger at GLBSE and say "It's their fault".
Where am I waiving my finger at GLBSE? I am simply trying to keep my word, as best as I can, and make an offering that I feel, through months of research, will be a winner for my clients.
The individuals who I have run the contract past before now, who are large stake holders in Gigamining, are quite happy with my approach.
Of course they are relatively happy (better something than nothing) But what will happen after 6 months to your investors who helped you to build the whole mining operation? Everyone will just forget about Gigamining, and you will offer another shortsighted mining contract?
That's quite the kick in the gut for those who purchased Gigamining after you announced the upgrade path back when there was no indication that it would not be a perpetual mining bond.
We are in a fluid environment. I'm doing the best I can with the cards I have been dealt. Since you seem to be driving the point home, maybe you can suggest an alternative idea.
Perhaps it was stupid of people to buy Gigamining with the intention of converting it to Teramining before the contract was finalized, but that doesn't make it right to substantially change the offerings and just casually wave your finger at GLBSE and say "It's their fault".
Where am I waiving my finger at GLBSE? I am simply trying to keep my word, as best as I can, and make an offering that I feel, through months of research, will be a winner for my clients.
The individuals who I have run the contract past before now, who are large stake holders in Gigamining, are quite happy with my approach.
But you will be mining with that hardware forever while the 1st batch of Investors only mines for 6 months and fully paid your "New" equipment.
It has never been the case that any offering would go on in perpetuity. That was the whole reason for the buy back clause.
Gigamining is perpetual. There is no getting around that.
Teramining is not.
Perhaps it was stupid of people to buy Gigamining with the intention of converting it to Teramining before the contract was finalized, but that doesn't make it right to substantially change the offerings and just casually wave your finger at GLBSE and say "It's their fault".
But you will be mining with that hardware forever while the 1st batch of Investors only mines for 6 months and fully paid your "New" equipment.
It has never been the case that any offering would go on in perpetuity. That was the whole reason for the buy back clause.
Gigamining is perpetual. There is no getting around that.
Teramining is not.
What happens to my earnings or my shares after 6 months has passed? Do the shares become invalid and not earning anything or do they get back to 5Mhash/s earnings?
But you will be mining with that hardware forever while the 1st batch of Investors only mines for 6 months and fully paid your "New" equipment.
It has never been the case that any offering would go on in perpetuity. That was the whole reason for the buy back clause.
Gigamining is perpetual. There is no getting around that.
Teramining is not.
But you will be mining with that hardware forever while the 1st batch of Investors only mines for 6 months and fully paid your "New" equipment.
It has never been the case that any offering would go on in perpetuity. That was the whole reason for the buy back clause.
But you will be mining with that hardware forever while the 1st batch of Investors only mines for 6 months and fully paid your "New" equipment.
It has never been the case that any offering would go on in perpetuity. That was the whole reason for the buy back clause.
So, the upgrade option will cost 0.29BTC and will net the user an additional 11 Teramining shares or 99MH/s. The upgrade is essentially selling a six month 100MH/s bond for 0.29BTC. Is that not the case?
You would need to have very favorable network conditions for that to possibly be a good idea.
You would need to have very favorable network conditions for that to possibly be a good idea.
We are selling a data processing contract that can be paid in $$$ or BTC.
Network conditions are looking at lot more favorable now that bASIC has shat the bed.
So the probability that the Investor will not get his initial investment back is extreme high.
In the end, Investors are paying for your hardware.
In the end, Investors are paying for your hardware.
In the end your joking it was from the start these people were just to stupid to do the math.
But each individual must do their own own due diligence and decide what is best for them. I have given this a lot of thought and would not be proposing it unless I thought it would benefit the purchaser.
BS you have never thought of the purchaser in any of this it was all designed to line your pockets and where was this due diligence when you listed on the GBLSE.
But you will be mining with that hardware forever while the 1st batch of Investors only mines for 6 months and fully paid your "New" equipment.
Yes just plain theft of your "investment" going on now
But you will be mining with that hardware forever while the 1st batch of Investors only mines for 6 months and fully paid your "New" equipment.
So, the upgrade option will cost 0.29BTC and will net the user an additional 11 Teramining shares or 99MH/s. The upgrade is essentially selling a six month 100MH/s bond for 0.29BTC. Is that not the case?
You would need to have very favorable network conditions for that to possibly be a good idea.
You would need to have very favorable network conditions for that to possibly be a good idea.
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