Interesting. I will go check it out. Thanks Bruno!
EDIT: OK, so I did go check it out. It is interesting.
I suggest that since this is the Gigamining / Teramining thread that we move conversations related to HashTrade to another thread. Can we do that?
Topic: Gigamining / Teramining - page 6. (Read 216450 times)
Here are some facts to consider:
GLBSE allowed for individuals to create anonymous accounts.
Gigamining KNEW this going into it.
Gigamining had NO PROBLEM engaging in unregulated activities BEFORE GLBSE closed shop.
Now all of a sudden Gigamining wants to get a lawyer's help.
Gigamining KNEW that lawyers don't know shit about Bitcoin.
Gigamining now expects his shareholders to get involved with the law to get their underground money back.
Gigamining has all of the information necessary to pay all of his shareholders back without the lawyer.
Keeping in mind those facts, what is the REAL reason Gigamining is making his shareholders jump through hoops? I can understand getting the lawyer to threaten GLBSE to give up the information(although I disagree with that tactic on moral grounds) but I cannot understand the reason to continue the lawyer bullshit.
GLBSE allowed for individuals to create anonymous accounts.
Gigamining KNEW this going into it.
Gigamining had NO PROBLEM engaging in unregulated activities BEFORE GLBSE closed shop.
Now all of a sudden Gigamining wants to get a lawyer's help.
Gigamining KNEW that lawyers don't know shit about Bitcoin.
Gigamining now expects his shareholders to get involved with the law to get their underground money back.
Gigamining has all of the information necessary to pay all of his shareholders back without the lawyer.
Keeping in mind those facts, what is the REAL reason Gigamining is making his shareholders jump through hoops? I can understand getting the lawyer to threaten GLBSE to give up the information(although I disagree with that tactic on moral grounds) but I cannot understand the reason to continue the lawyer bullshit.
His lawyer does or, should I say, his lawyer's paralegal, sometimes referred to SME. It also helps if said paralegal is the brother-in-law of your partner in, let's say, HashTrade.
~TMIBTCITW
It's a big loss of bitcoins, for instance, I invested a lot of coins in gigamining shares & ended up with substantially less when I claimed for the 1530 shares that I had back in Feb, I got just 245 btc in back interest instead of the thousands that I'd invested, then I paid 382 btc for the paid upgrade to teramining on giga's assurance that this time it would be different, so far it's paid 173 btc less the 70.36 btc I would have received by sticking to the free upgrade, so 103 btc gained for a 382 btc cost & interest has slowed to 3.60 btc per week falling by 50% each 3 weeks on the latest figures, I don't see how this can ever cover the cost even with giga's assurance that he somehow intends to make it right.
The only honorable thing that I see now would be if he admitted the paid upgrade was a failure for those who took it & refund the cost of it...
James is not responsible for you poor decisions. He has kept up his end of the deal. If the paid upgrade was such a bad deal, then you should not have taken it. Take responsibility for your own failures. Stop looking for somebody to bail you out.
Interest payments down by over 50% in just the last 3 week 
That is correct. the average difficulty for September was 104,550,780 while this months average difficulty is going to be over 216,654,943 which is OVER a 100% increase.
Seems that money printing devices have seen somewhere around $100m in investment come in the form of 100% pre-orders and that investment has made the difficulty jump 30% more or less each diff period.
These are the risks along with manufacturer delay and BTC price.
And the BTC price has gone up with over 30% the last week, so It's not so big loss if we get 50% less BTC from Giga-/Teramining.
The BTC price will go up even more.
It's a big loss of bitcoins, for instance, I invested a lot of coins in gigamining shares & ended up with substantially less when I claimed for the 1530 shares that I had back in Feb, I got just 245 btc in back interest instead of the thousands that I'd invested, then I paid 382 btc for the paid upgrade to teramining on giga's assurance that this time it would be different, so far it's paid 173 btc less the 70.36 btc I would have received by sticking to the free upgrade, so 103 btc gained for a 382 btc cost & interest has slowed to 3.60 btc per week falling by 50% each 3 weeks on the latest figures, I don't see how this can ever cover the cost even with giga's assurance that he somehow intends to make it right.
The only honorable thing that I see now would be if he admitted the paid upgrade was a failure for those who took it & refund the cost of it, less interest paid out, but plus the free upgrade interest, which in my case would be 382 - 173 + 70 = 279 BTC or to explain when & how he intends to make this investment right for those who have supported him all along.
The 245 btc that I got back in Feb plus the free upgrade coins of 70 btc = 315 btc, these would be some of the very few coins that I had in my cold storage after the scams of last year, like bitcoinica, GLBSE etc, instead of that I am now 279 btc down atm just from taking the paid upgrade & earning a rapidly declining interest that can never hope to recoup this.
You're in luck! ~12 hours earlier from the time you posted the above, HashTrade made a $1M USD down payment to start up a premier data processing organization enabling all individuals to benefit from mining Bitcoins without having to purchase or operate any hardware.
Soon, possibly, you'll be able to upgrade. Rumor has it that all the Bitcoin mining rigs will be Monarchs, of which currently is all the rage.
~TMIBTCITW
https://bitcointalksearch.org/topic/m.3482565
And some still wonder why I took the actions that I did.....
And some still wonder why I took the actions that I did.....
Heh, basically GLBSE 2.0? or are we on 3.0?
Good luck to all for the hassle they are about to go through...
Thanks for making it easy giga.
https://bitcointalksearch.org/topic/m.3482565
And some still wonder why I took the actions that I did.....
And some still wonder why I took the actions that I did.....
Teramining Update
We ran at 110.77% PPS last week.
Best,
James
We ran at 110.77% PPS last week.
Best,
James
October Report
The average daily diff for October was 247,090,119.
Teramining ran at 103.33% for the month. This was our best month vs PPS since Teramining started.
The average daily diff for October was 247,090,119.
Teramining ran at 103.33% for the month. This was our best month vs PPS since Teramining started.
Interest payments are falling fast, (mine from 3.59 btc last week down to 2.50 btc this week), giga I would appreciate if you could reply to my post of a week ago, I know that others are interested to hear your answer to these changing circumstances as I was PMed after, thanks.
Hi Otoh,
The contract will run its term. I have no control over variance of block rewards nor do I have control over how much other equipment has been purchased and brought onto the network. Once the term of the contract is near, I will decide what to do next.
Best,
James
Teramining Update
We ran at 79.85% PPS last week.
The pool has not been growing with the rest of the network lately so we are a smaller (3%) of the network currently. I am working to take the pool public at this time.
Best,
James
We ran at 79.85% PPS last week.
The pool has not been growing with the rest of the network lately so we are a smaller (3%) of the network currently. I am working to take the pool public at this time.
Best,
James
Interest payments are falling fast, (mine from 3.59 btc last week down to 2.50 btc this week), giga I would appreciate if you could reply to my post of a week ago, I know that others are interested to hear your answer to these changing circumstances as I was PMed after, thanks.
So claims are not really closed are they? Do you have an estimate about the amount of btc one share results in? In an earlier post someone estimated about 0.2 btc/share, can you confirm this?
0.22 BTC per contract is about right.
Do the individuals who went through the claim process get a bonus from the leftover coins?
Individuals who went though the claims process get the benefit of getting paid.
Leftover coins are stored for when people claim. More people have come out of the woodwork and are claiming as I type this.
So claims are not really closed are they? Do you have an estimate about the amount of btc one share results in? In an earlier post someone estimated about 0.2 btc/share, can you confirm this?
Dont worry, Im sure giga will offer you an upgrade to 'petamining' based on BFL monarchs that will ship in autumn 2014.
And the BTC price has gone up with over 30% the last week, so It's not so big loss if we get 50% less BTC from Giga-/Teramining.
The BTC price will go up even more.
The BTC price will go up even more.
You seem to have forgotten that you paid more BTC for gigamining shares than you will ever receive, regardless of the value in dollars.
Interest payments down by over 50% in just the last 3 week
That is correct. the average difficulty for September was 104,550,780 while this months average difficulty is going to be over 216,654,943 which is OVER a 100% increase.
Seems that money printing devices have seen somewhere around $100m in investment come in the form of 100% pre-orders and that investment has made the difficulty jump 30% more or less each diff period.
These are the risks along with manufacturer delay and BTC price.
And the BTC price has gone up with over 30% the last week, so It's not so big loss if we get 50% less BTC from Giga-/Teramining.
The BTC price will go up even more.
It's a big loss of bitcoins, for instance, I invested a lot of coins in gigamining shares & ended up with substantially less when I claimed for the 1530 shares that I had back in Feb, I got just 245 btc in back interest instead of the thousands that I'd invested, then I paid 382 btc for the paid upgrade to teramining on giga's assurance that this time it would be different, so far it's paid 173 btc less the 70.36 btc I would have received by sticking to the free upgrade, so 103 btc gained for a 382 btc cost & interest has slowed to 3.60 btc per week falling by 50% each 3 weeks on the latest figures, I don't see how this can ever cover the cost even with giga's assurance that he somehow intends to make it right.
The only honorable thing that I see now would be if he admitted the paid upgrade was a failure for those who took it & refund the cost of it, less interest paid out, but plus the free upgrade interest, which in my case would be 382 - 173 + 70 = 279 BTC or to explain when & how he intends to make this investment right for those who have supported him all along.
The 245 btc that I got back in Feb plus the free upgrade coins of 70 btc = 315 btc, these would be some of the very few coins that I had in my cold storage after the scams of last year, like bitcoinica, GLBSE etc, instead of that I am now 279 btc down atm just from taking the paid upgrade & earning a rapidly declining interest that can never hope to recoup this.
Interest payments down by over 50% in just the last 3 week
That is correct. the average difficulty for September was 104,550,780 while this months average difficulty is going to be over 216,654,943 which is OVER a 100% increase.
Seems that money printing devices have seen somewhere around $100m in investment come in the form of 100% pre-orders and that investment has made the difficulty jump 30% more or less each diff period.
These are the risks along with manufacturer delay and BTC price.
And the BTC price has gone up with over 30% the last week, so It's not so big loss if we get 50% less BTC from Giga-/Teramining.
The BTC price will go up even more.
Do the individuals who went through the claim process get a bonus from the leftover coins?
Individuals who went though the claims process get the benefit of getting paid.
Leftover coins are stored for when people claim. More people have come out of the woodwork and are claiming as I type this.
Forgot to post this on Monday. Too many other things going on. 
Teramining Update
We ran at 114.85% PPS last week and we had some equipment go down for an extended period of time.
Gigamining Update
Claims are now closed. It has been a year since the closure of GLBSE and six months longer than I said I'd keep claims open. Everyone who's claim I received has been paid.
Best,
James
Do the individuals who went through the claim process get a bonus from the leftover coins? Teramining Update
We ran at 114.85% PPS last week and we had some equipment go down for an extended period of time.
Gigamining Update
Claims are now closed. It has been a year since the closure of GLBSE and six months longer than I said I'd keep claims open. Everyone who's claim I received has been paid.
Best,
James
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