Topic: Gigamining / Teramining - page 7. (Read 216477 times)

Teramining Update

We ran at 93.55% PPS last week. All equipment issues were resolved on Tuesday and we have been mining at 100% since then.

The pool now has the dubious honor of have the longest round in terms of total shares at 1,963,423,807. Having a round like this and still coming in at 93.55% PPS is an amazing feat.

Best,
James

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.

Interest payments down by over 50% in just the last 3 week

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

Probably around 0.2 BTC or so in backdated dividends.

Good thing I remembered to check this thread today.  Claim submitted for my modest quantity of shares.  What is the estimated value of a share and previous dividends these days?

Teramining Update

We ran at 112.41% PPS last week.

Gigamining Update

More claims have come in and have been paid. This week will be the last week any new claims will be accepted.

Best,
James

Teramining Update

We ran at 107.02% PPS last week.

Gigamining Update

If you have a claim in process that has not been completed (aka paid) please contact me: james at gigamining dot com

Claims are still coming in and being paid.

Best,
James

Teramining Update

Forgot to post yesterday as I'm on the road again. We ran at 83.59% PPS last week.

Gigamining Update

If you have a claim in process that has not been completed (aka paid) please contact me: james at gigamining dot com

Amsterdam

I'll be in Amsterdam this week for the European Conference. If any of you will be there, I'd really enjoying more Gigaminers / Teraminers.

Best,
James

Thanks for taking the time to re-read that email.

I am committed to making sure all Teraminers see a positive ROI in BTC, full stop.

The faith you have put in me can never be repaid.

With Appreciation,
James

Hi James,

I had forgotten about your commitment  & promise to investors in the June 25th Teramining update, I mistakenly thought that we were now on a fixed max hash power with fixed time scale, my mistake & please to accept my apologies, it hasn't been easy for any of us & if you manage to pull through with this then that will be a superb achievement. The only other email I received was August 26th re TM officially starting.

Otoh

Otoh,

Please go back and read the emails that have been sent to all Teraminers. If, once you read those emails, you still believe Teramining will be a loss, email me directly and we can discuss the finer details of those emails.

If, for some reason, you were not included on those emails, let me know and I'll forward them to you.

Thanks,
James

Yes my calculations are in btc because those are what I invested & what the returns are in, obviously it would have been better to have not paid for an upgrade to TM & just kept the 382.50 btc & taken the free upgrade it was Giga who promoted this as a way to help recoup some of the losses made earlier by those who invested in GM. I was warned att that I was just throwing good money after bad & I said that I was probably naive to still trust this & now looking at the figures it seems that was the case, unless Giga comes up with something fairer.

Looks like all your calculations are in BTC.  Is the same true for USD? 

Bitcoin is but a means of transfer to take advantage of this opportunity.  Had you invested USD, perhaps the story would be different...

The contract runs until 2014 05 26, so approx 31 weeks more, I have 22,950 contracts & if we continued to get about 10 btc / week (the average of the last 2 weeks, one bad & one good), then I would receive about 310 btc but of course it will be far, far lower than this due to ever increasing difficulty.

Since upgrading to TerraMining on 2013 02 26 I have received a total of approx 142.84 btc & lost approx 69.13 btc that I would have received by continuing with GigaMining, maybe more with the free upgrade option.

So 310 + 143 - 69 = 384 btc about what I could be getting if no difficulty increase & not counting the continued loss of GigaMining payments.

I paid 382.50 btc for the upgrade path as GigaVPS assured me it would be a better deal in the long run, I trusted him even though my original investment in GM had lost a large amount, it seems obvious now that the switch to the TM paid upgrade is going to lose me yet more unless Giga does the honorable thing which is to, at the very least, commit to paying back to investors eventually a minimum of what they paid to upgrade plus the amount that they would have received on the free upgrade path, preferably more to retain some goodwill for the future.

As it is right now I will never have anything to do with any mining operation in the future & so far am very disillusioned by participating in any of these ventures.

But it does have everything to do with him trying to comply with laws and regulations...

Giga has more than enough information available to send me the BTC he owes me and I have also offered to sign something with the payout address of mine he has on record.

Unilaterally closing a contract after imposing unreasonable requests for private information + a signed statement that definitely wasn't part of the initial contract does have nothing to do with GLBSE closing.

And old ones too, if you don't jump through legal hoops.

doesn't matter... it's closed to new investors...

So what's the profitability on this?

Seems like one of the better run groups...