Gigamining / Teramining - page 85. | Bitcointalksearch.org

burger

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Quote from: jamesg on September 27, 2012, 07:09:08 AM

Quote from: burger on September 27, 2012, 07:06:02 AM

How long can I wait to do the 1:4 upgrade? is there a time frame for this? As I have my BTC locked in ZIP.A (I don't think I will get those BTC back). Now I have to mine or hope for good dividends from my other investments on GLBSE.

I would prefer that everyone be ready in advance with their decisions. I would think we probably have another month before we get started.

Ok, it's good to know... Now I hope BFL delivers in November. And will Gigamining still give dividends while you send in some of your BFL equipment for the trade in for the new ASICs?

jamesg

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Quote from: 2GOOD on September 27, 2012, 11:09:59 AM

One question, for example if I own 3x9=27 GIGAMINING bonds and decide to go for the paid upgrade - I recieve all 108 (cool LOST number) at once or at portions.. and I pay for them at once or.. if can make it a little more clear and about the timeframe will it be proportional to BFLs shippings..

Ok. You are correct that if you own 27 Gigamining bonds and choose the paid upgrade would would get 108 Teramining bonds and you would pay 7.83 BTC.

When BFL has firmer dates around shipping the Gigamining equipment (approx Nov. 1) I will start the process of upgrading everyone. Since I will not have the hashing power until it arrives, you will get a portion of your allocated Teramining bonds to equal the Mh/s you had in Gigamining. In your case, you would get 6 Teramining bonds immediately to make sure you continue to receive coupon payments. You will turn in your Gigamining bonds and the fee will also be collected at this time.

When the equipment finally arrives and is running, I will issue the remaining bonds and Teramining will start in earnest.

I hope this helps.

2GOOD

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First bits: 12good

Sorry for the dump question but why this number 9 I just don't get it's multiplied by 4 not by 9... ooops I get it... because the upgrade is 4.5 times than the current hash rate... oops

sorry

One question, for example if I own 3x9=27 GIGAMINING bonds and decide to go for the paid upgrade - I recieve all 108 (cool LOST number) at once or at portions.. and I pay for them at once or.. if can make it a little more clear and about the timeframe will it be proportional to BFLs shippings..

Thank You

jamesg

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To all Gigaminers:

If you want to receive full payments between the time you trade in Gigamining and receive Teramining, please make sure that you Gigamining holdings are in a multiple of 9.

This will allow for a seamless transition through the entire process of upgrading and will allow you to turn in all of your Gigamining bonds at once without issue. This will also keep from me having an accounting nightmare on my hands.

Best,
gigavps

jamesg

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Quote from: burger on September 27, 2012, 07:06:02 AM

How long can I wait to do the 1:4 upgrade? is there a time frame for this? As I have my BTC locked in ZIP.A (I don't think I will get those BTC back). Now I have to mine or hope for good dividends from my other investments on GLBSE.

I would prefer that everyone be ready in advance with their decisions. I would think we probably have another month before we get started.

burger

full member

Activity: 195

Merit: 100

How long can I wait to do the 1:4 upgrade? is there a time frame for this? As I have my BTC locked in ZIP.A (I don't think I will get those BTC back). Now I have to mine or hope for good dividends from my other investments on GLBSE.

jamesg

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AKA: gigavps

Quote from: Naelr on September 26, 2012, 10:04:12 PM

gigavps

how are you going to handle the change over... I wanna be terramining bond on day one.... what if I miss the hookup ... is there going to be some kind of prepay job for the upgrade?

How exactly is this going to work? do you buy back from us and then issue new bonds?

Naelr

Hi Naelr,

As we get closer to delivery time and BFL is more confident in their timeline is when we will start the upgrade process. This should be a couple weeks out from the actual delivery. You will be able to trade in your Gigamining bonds for the approximate equivalent Teramining bonds and decide whether you would like the free or paid upgrade. I will keep a spreadsheet of the remaining bonds owed once the equipment is up and running and will distribute them at that time.

As an example, if you have 18 Gigamining bonds (90Mh/s) you would get 4 Teramining bonds immediately and the remaining when the equipment is up and running. If you elected for the free upgrade, the remaining bonds you would receive would be 14, if you paid for the upgrade, you would receive 68.

In doing the upgrade this way, you do not miss out on any coupon payments.

Best,
gigavps

jamesg

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Quote from: GoWest on September 26, 2012, 09:21:36 PM

Anyone care to speculate on what the difficulty will be by the time TERAMINING is stood up? I'm going to guess 4.2 million, with dividends of 6500 BTC for 160,000 bonds (0.04 BTC/bond) in the first week. The question is, what happens when the other ASIC rigs get flashed up? Will TERAMINING's revenues rapidly deteriorate? When will the reward halve? Will BFL even get their ASICs out before the halving?

Hi GoWest,

Instead of answering your questions, I'd like to add some more. Like, what do you think Teramining is going to be priced at since there is not a set price? How will only allowing Gigaminers to upgrade to Teramining effect the price of the bond?

I have pondered these questions a bit and have some ideas, but I guess we'll just have to wait and see. Wink

Best,
gigavps

Naelr

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gigavps

how are you going to handle the change over... I wanna be terramining bond on day one.... what if I miss the hookup ... is there going to be some kind of prepay job for the upgrade?

How exactly is this going to work? do you buy back from us and then issue new bonds?

Naelr

GoWest

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betwithbtc.com

Anyone care to speculate on what the difficulty will be by the time TERAMINING is stood up? I'm going to guess 4.2 million, with dividends of 6500 BTC for 160,000 bonds (0.04 BTC/bond) in the first week. The question is, what happens when the other ASIC rigs get flashed up? Will TERAMINING's revenues rapidly deteriorate? When will the reward halve? Will BFL even get their ASICs out before the halving?

jamesg

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Quote from: Naelr on September 26, 2012, 08:06:22 PM

I guess we are just waiting for the ASICs Huh

?

Waiting is the name of the game. If I've learned anything from bitcoin, it is patience.

Naelr

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Sounds good to me.... I guess we are just waiting for the ASICs Huh

?

jamesg

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To all Gigaminers:

The OP has been update to be more clear and concise. The original post has been quoted for posterity in the second post of this thread. If I messed something up for forgot something, let me know.

Best,
gigavps

ciuciu

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Quote from: jamesg on September 25, 2012, 02:06:38 PM

Quote from: ciuciu on September 25, 2012, 01:58:09 PM

Something not nice.....

Hi ciuciu,

Can you please take these comments to other parts of the forums. They are certainly not necessary and are off topic in the gigamining thread.

Thanks,
gigavps

This forum is my oyster. I can post whatever I want, as all the scammers and pedophiles do.

Thank you.

jamesg

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Quote from: ciuciu on September 25, 2012, 01:58:09 PM

Something not nice.....

Hi ciuciu,

Can you please take these comments to other parts of the forums. They are certainly not necessary and are off topic in the gigamining thread.

Thanks,
gigavps

ciuciu

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Quote from: MPOE-PR on September 25, 2012, 08:20:13 AM

Quote from: DannyM on September 25, 2012, 05:56:24 AM

If GLBSE goes away will the F.GIGA.ETF shares on MPEX still pay? Or are they tied to GLBSE shares?

The F.GIGA.ETF asset was constructed based on controlling units of Gigavps' debt. Whether these are enbodied in GLBSE shares or not is irrelevant, as long as the issuer (Gigavps) still recognizes them.

The asset will continue to disburse any payments made by Gigavps, even though the collapse of GLBSE does pose some administrative problems.

Do you pedophile Mircea still believe in the collapse of GLBSE? Go seek a doctor advice.

MPOE-PR

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Quote from: DannyM on September 25, 2012, 05:56:24 AM

If GLBSE goes away will the F.GIGA.ETF shares on MPEX still pay? Or are they tied to GLBSE shares?

The F.GIGA.ETF asset was constructed based on controlling units of Gigavps' debt. Whether these are enbodied in GLBSE shares or not is irrelevant, as long as the issuer (Gigavps) still recognizes them.

The asset will continue to disburse any payments made by Gigavps, even though the collapse of GLBSE does pose some administrative problems.

szuetam

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Yes, well...

I just asked because of Nefario - Goat problem:
https://bitcointalk.org/index.php?topic=112071.new;topicseen#new

But if Nefario is the only one that operates, then it's better than nothing.

I was worried because Goat's bonds ~~desperado~~ disappeared today and his account is not available to him anymore due to Nefario vs. Goat conflict.

But I will be much more calm if you will get that assurance, and confirm that.

jamesg

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Quote from: DannyM on September 25, 2012, 05:56:24 AM

If GLBSE goes away will the F.GIGA.ETF shares on MPEX still pay? Or are they tied to GLBSE shares?

As long as I can get the following things from glbse.com in the event something bad happens, things should be able to continue normally.

glbse username
btc withdrawal address
bonds held by username

This should allow me to setup a script to send out payments without the need for anyone to verify anything.

I will contact Nefario today to make sure this is possible and if so, maybe he can set something up to dump this info out quickly.

Best,
gigavps

DannyM

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If GLBSE goes away will the F.GIGA.ETF shares on MPEX still pay? Or are they tied to GLBSE shares?

Topic: Gigamining / Teramining - page 85. (Read 216450 times)