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Topic: Gigamining / Teramining - page 77. (Read 216450 times)

vip
Activity: 1358
Merit: 1000
AKA: gigavps
October 18, 2012, 09:30:35 AM
I received a confirmation email, but no BTC transferred. Have they gotten to you yet gigavps?

I received my coins back from GLBSE. I am starting to feel bad about this though hearing that so many others have not received their coins back.
hero member
Activity: 616
Merit: 500
Portland Bitcoin Group Organizer
October 18, 2012, 09:28:03 AM
I received a confirmation email, but no BTC transferred. Have they gotten to you yet gigavps?

[edit] to clarify, glbse emailed me saying that my balance has been paid. I was only owed something trivial, so perhaps a processing fee ate my BTC? I really have no idea. I expected a transaction ID or specifics, but got neither.

I just hope that GLBSE passes along the correct information to GIGAMINING and everyone else who I have shares with.
legendary
Activity: 910
Merit: 1000
Quality Printing Services by Federal Reserve Bank
October 17, 2012, 12:32:13 PM
There are actually multiple options available as of now and those are listed here: https://bitcointalksearch.org/topic/glbse-owners-lied-to-us-how-to-move-forward-and-fix-this-move-to-exchange-x-115825
Problem is, those available options like OT, asstest-otc and others can not help current share holders or  the issuer until there is a secure way of figuring out, who owns what and then transferring that data to new system and confirming, that nothing changed while data was transferred Smiley
This is actually a relatively trivial task.
Until GLBSE drags its feet, there is very little anyone can do. Sad
sr. member
Activity: 386
Merit: 250
October 17, 2012, 10:34:55 AM
Mind if I ask probably a stupid question but with GLBSE gone why can Gigamining basically offer a privately held option that they ran through a secure website that they managed.  I know this will be a bigger level of effort that Gigamining may not want to take on but if it were me running the org I would just bite the bullet and setup a way to manage my individual investors in my operation so that we could all move forward.  I may be making this sound easier then what it is but when you set up a corporation you can follow the regulations to offer bonds and or stocks in your company to obtain funding and manage funds through those self held promissory notes.  Not saying you need to do that since bitcoin world is a little less formal but if a site were setup to manage users and funds in and out under Gigaminings control it sounds doable. 

Just an idea,
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
October 17, 2012, 10:20:21 AM
Your GLBSE account has been processed for bitcoin. The next step will be to send you information about your assets, and to provide this information to issuers (if you agreed) allowing you to continue your relationship with your issuers.

I had 0 btc in my account so meh Smiley

After all the flame wars on here, it looks like its being done the right way? i dont want to speak too soon, but if everything goes at its outlined then it should be business as usual.

To everyone saying 'i hope termining continues' i expect no less than this, we all purchased/traded these bonds based on this information, as soon as giga has the correct info from GLBSE i will be putting my upgrade money aside.
But the entire Teramining idea was based upon using GLBSE which no longer exists.

Having said that I still hope we move forward on Teramining!
full member
Activity: 186
Merit: 100
October 17, 2012, 05:49:10 AM
Your GLBSE account has been processed for bitcoin. The next step will be to send you information about your assets, and to provide this information to issuers (if you agreed) allowing you to continue your relationship with your issuers.

I had 0 btc in my account so meh Smiley

After all the flame wars on here, it looks like its being done the right way? i dont want to speak too soon, but if everything goes at its outlined then it should be business as usual.

To everyone saying 'i hope termining continues' i expect no less than this, we all purchased/traded these bonds based on this information, as soon as giga has the correct info from GLBSE i will be putting my upgrade money aside.
sr. member
Activity: 411
Merit: 250
October 16, 2012, 05:53:42 PM
Gotten the report of my BTC, but nothing about shares yet. Looking forward to getting this going - Gigamining is really the one I care the most about continuing with.
donator
Activity: 3052
Merit: 1110
October 16, 2012, 03:28:22 PM
No dividends were paid for the last 2 weeks because GLBSE went tits up before they became due, when giga gets the holders info (number of GM units, email address & bitcoin address) they'll be sent & also hopefully some way to upgrade to tera as all of us still involved here need the chance to recoup some of our losses for backing giga's enterprise.
hero member
Activity: 651
Merit: 501
My PGP Key: 92C7689C
October 16, 2012, 02:19:11 PM
GLBSE has refunded some of my balance. It looks like about what I had left of BTC1.50 after buying two shares of GIGAMINING, but not including the two (?) weeks' worth of dividends. From their email:

Quote
Your GLBSE account has been partially processed. 90% of your funds have been returned to you with this payment. Once we recieve [sic] the remaining funds from our treasurer and secretary the final payment will be made and you will be informed. We will also inform you when we process your assets, allowing you to continue your relationship with your issuer.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
October 15, 2012, 04:00:03 PM
Hi gigavps,

did you receive any information about GLBSE users, who hold bond issued by you?

Thanks

I have not.
sr. member
Activity: 471
Merit: 252
October 15, 2012, 11:27:58 AM
Hi gigavps,

did you receive any information about GLBSE users, who hold bond issued by you?

Thanks
legendary
Activity: 980
Merit: 1040
October 15, 2012, 01:45:31 AM
The definition for each of these securities is either listed in the Act under A.R.S. Section 44-1801 or provided by judicial interpretations and tests.[8] In determining whether a certain instrument is a security, a court will consider the substance rather than the form of the instrument.[9] “Essentially, if the purchaser will be a passive owner―relying on someone else’s efforts or conduct in order to make money on the investment―the instrument is probably a security.”[10]

I think we are in the clear. Please note word in red in your quote above. If TPTB call BTC money, it would legitimize BTC to the masses. Big problems for TPTB would follow.

Nah, word games arent going to help I fear. What you quoted above is an interpretation of the law, its not the law. The actual law -which I also posted- doesnt even mention the word money. it uses the term "for value". No one would be able to argue bitcoins have no value, therefore, it you wouldnt be able to argue they are not securities.

If you would want to set something up that is similar to renting computing power that would not be a security, Giga would need at the very least, give control of the miners to the "bond" holder. Even then I doubt he would be able to make those bonds tradeable without turning them in to securities again.
legendary
Activity: 3038
Merit: 1660
lose: unfind ... loose: untight
October 15, 2012, 01:33:08 AM
The definition for each of these securities is either listed in the Act under A.R.S. Section 44-1801 or provided by judicial interpretations and tests.[8] In determining whether a certain instrument is a security, a court will consider the substance rather than the form of the instrument.[9] “Essentially, if the purchaser will be a passive owner―relying on someone else’s efforts or conduct in order to make money on the investment―the instrument is probably a security.”[10]

I think we are in the clear. Please note word in red in your quote above. If TPTB call BTC money, it would legitimize BTC to the masses. Big problems for TPTB would follow.
hero member
Activity: 616
Merit: 500
Portland Bitcoin Group Organizer
October 15, 2012, 12:31:40 AM
Shoot, I'll take an overpayment any day.
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
October 14, 2012, 10:48:19 AM
Are you really complaining about being overpaid?

No, I'm not.

Balance: 0.55209065
Sell order: 0.6

0.6 + 0.55 = 1.15.

I don't really know whether this sell order was made or not. There is no explanations. So I don't know anything. Is this payment the rounded up ~0'55BTC one? Is a payment for one sold bond? Is this a mistake? Is just one step in a longer payment process? Are they going to pay the rest of my coins?
Ah, there have been a lot of reports of rounding up so I expect that the 0.6 is your BTC and the sell order did not get executed.  You will not really know until the asset issuer get the information and you find out how many of each asset you have left.

In same boat.
legendary
Activity: 1666
Merit: 1000
October 14, 2012, 10:03:42 AM
I'm waiting on my about 130 BTC balance, I know my exact balance just before the shutdown because of my trading bot. I did not give AML information.
sr. member
Activity: 471
Merit: 252
October 14, 2012, 09:59:43 AM
Are you really complaining about being overpaid?

No, I'm not.

Balance: 0.55209065
Sell order: 0.6

0.6 + 0.55 = 1.15.

I don't really know whether this sell order was made or not. There is no explanations. So I don't know anything. Is this payment the rounded up ~0'55BTC one? Is a payment for one sold bond? Is this a mistake? Is just one step in a longer payment process? Are they going to pay the rest of my coins?
legendary
Activity: 2114
Merit: 1031
October 14, 2012, 09:07:28 AM
just can't please some people...
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
October 14, 2012, 09:04:35 AM
Are you really complaining about being overpaid?

Yes I (and others) have noticed that he appears to be rounding up all the payouts.
sr. member
Activity: 471
Merit: 252
October 14, 2012, 09:00:13 AM
Username: xxxxxxxxxxxx | Balance: 0.55209065 | Available: 0.55209065 | GLBSETime 06:12, Wed Oct 03

Ticker   Price    Quantity    Timestamp
GIGAMINING    0.6    1    2012-10-03 06:08:54

The thing is that I've just got paid 0.6 BTC... I don't like how he's managing this...
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