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Topic: Gigamining / Teramining - page 95. (Read 216459 times)

vip
Activity: 1358
Merit: 1000
AKA: gigavps
July 22, 2012, 09:02:33 AM
Second largest trade in Gigamining history just took place @1.041. https://glbse.com/asset/view/GIGAMINING  Someone know something we don't?  Shocked

Quote
trade:[email protected]:GIGAMINING:1342921847

via twitter

https://twitter.com/glbse

teramining bonds are changing from 25mh/s to 100mh/s Smiley

This is not correct. Teramining will be a 25Mh/s per bond.
full member
Activity: 186
Merit: 100
July 22, 2012, 03:46:04 AM
Second largest trade in Gigamining history just took place @1.041. https://glbse.com/asset/view/GIGAMINING  Someone know something we don't?  Shocked

Quote
trade:[email protected]:GIGAMINING:1342921847

via twitter

https://twitter.com/glbse

teramining bonds are changing from 25mh/s to 100mh/s Smiley
sr. member
Activity: 322
Merit: 250
July 21, 2012, 09:11:44 PM
Second largest trade in Gigamining history just took place @1.041. https://glbse.com/asset/view/GIGAMINING  Someone know something we don't?  Shocked

Quote
trade:[email protected]:GIGAMINING:1342921847

via twitter

https://twitter.com/glbse
legendary
Activity: 1666
Merit: 1000
July 19, 2012, 05:21:28 PM
In fact, other bonds don't even offer a consolidated view of all coupon payments.


We can fix that...  Wink
vip
Activity: 1358
Merit: 1000
AKA: gigavps
July 19, 2012, 04:44:22 PM
Hi sunnankar,

I offer fairly open and transparent operations to the entire bitcoin community. Bitcoin is a global idea, not bound by borders and I don't see the point of adding this to the coupon payment spreadsheet for one person. In fact, other bonds don't even offer a consolidated view of all coupon payments.

Also, if you think I shouldn't readjust the price for the upgrade, I will also take that into consideration.

Best regards,
gigavps
cst
member
Activity: 110
Merit: 10
The Cosmos doesn't care about you.
July 19, 2012, 04:20:06 PM
Hi sunnankar,

We are dealing with bitcoin and I would prefer to keep it that way. Valuing Gigamining any other way is really up to potential or current holders of Gigamining.

Best,
gigavps

Agree with Giga here.

Why tie this with some random fiat currency value ?

The USD is still the priority numeraire for just about everyone in the Bitcoin community and surely in the serious investment community.
...

Looke like I'm not 'just about everyone' then, since I'm using GBP not USD. How about adding another column for pounds as well? And euros, and yen, and...and...
legendary
Activity: 1031
Merit: 1000
July 19, 2012, 04:07:30 PM
Hi sunnankar,

We are dealing with bitcoin and I would prefer to keep it that way. Valuing Gigamining any other way is really up to potential or current holders of Gigamining.

Best,
gigavps

Agree with Giga here.

Why tie this with some random fiat currency value ?

The USD is still the priority numeraire for just about everyone in the Bitcoin community and surely in the serious investment community. Oil, natural gas, gold, silver, copper, mangenese, corn, soybean and every other serious investment opportunity will provide the simple mathematical calculations of converting to the reporting currency.

Additionally, just like the other commodities mentioned above so likewise the generation of bitcoins incurs expenses which are denominated in a random fiat currency value. While Butterfly Labs accepts bitcoins in payment for their hardware the prices are in USD and not BTC. When performing the mental financial calculation of whether to lease or buy mining equipment or buy a bond or just buy bitcoins the common nexus is usually the USD or EUR.

A few weeks ago I had meetings with CEOs and other officers of four publicly traded commodity mining companies. They rolled out the red carpet for us as investors.

Figuring out the weekly cash-flow of past dividends measured in USD is not rocket science and all of the information is easily and publicly available. Gigavps could spend about 30 seconds updating it when he does the other updates to the spreadsheet and it would save all of his investors, cumulatively, a significant amount of time should they want similar information. As a result, his bond would be easier to value, investors would be more likely to allocate capital towards it should they consider it undervalued and it would likely generate more liquidity for the issue.

While at it another couple columns that would be helpful would be the average price, in both USD and BTC, and total volume of the bonds traded for the previous week. Then a weekly yield could be calculated. All of these would be helpful in the bond valuations.

After all, if Gigavps wants to keep everything in BTC then why would waiting for ASIC shipments to be eminent even be relevant to the upgrade price? Or does it actually matter to investor's decision making that BTC has gone from $5 to $9 in the past month? And if it matters then why not make the information easily displayed?

While that increase is far less than what you can currently pay per BTC, I suspect it is so since you purchased the FPGA rigs when BTC were around 5$ per BTC if I'm not mistaken.

We will wait until ASIC shipments are eminent before we start changing the price in BTC for the upgrade.
full member
Activity: 126
Merit: 100
July 19, 2012, 09:41:03 AM
You earn bitcoins off of bitcoins. It makes perfect sense. Currency risk is something you should have to consider when making any sort of investment on the exchange. Giga's putting of this on his site won't raise or lower the relative risk he has in relation to other mining stocks on GLBSE. So essentially, it would be more work for him, for little to no benefit to him.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
July 19, 2012, 06:50:55 AM
All in all, bitcoin difficulty VS. bitcoin prices, the divs have improved.

Would be nice if Gigavps added two columns to the spreadsheet; the 7 day moving average for BTC in USD and the dividend amount in USD using the 7 day moving average price. Should be pretty simple.

Hi sunnankar,

We are dealing with bitcoin and I would prefer to keep it that way. Valuing Gigamining any other way is really up to potential or current holders of Gigamining.

Best,
gigavps
legendary
Activity: 1031
Merit: 1000
July 19, 2012, 01:30:35 AM
All in all, bitcoin difficulty VS. bitcoin prices, the divs have improved.

Would be nice if Gigavps added two columns to the spreadsheet; the 7 day moving average for BTC in USD and the dividend amount in USD using the 7 day moving average price. Should be pretty simple.
hero member
Activity: 745
Merit: 501
July 19, 2012, 12:48:30 AM
All in all, bitcoin difficulty VS. bitcoin prices, the divs have improved.
sr. member
Activity: 322
Merit: 250
July 19, 2012, 12:47:07 AM
Man those divs are looking worse and worse.  And now Bitcoin is over $9.  All I can say is damn.
rjk
sr. member
Activity: 448
Merit: 250
1ngldh
July 18, 2012, 03:44:55 PM
Actually GPUs on altcoins might be worth something these days, but I doubt it would be worth more than what the hardware could be sold for. Maybe that's something to test just for fun.
donator
Activity: 3108
Merit: 1166
July 18, 2012, 03:11:22 PM

This is kind of the million dollar question and I really don't have an valid answer at this point. GPUs will become unprofitable and I'll probably wait until then to figure out what to do with them.

I really don't know much about this, but would there be any advantage to switch them to mining an alt VC like litecoin or the alts aren't worth bothering with?
vip
Activity: 1358
Merit: 1000
AKA: gigavps
July 18, 2012, 03:10:29 PM
I get it from EskimoBob's complaint about the huge difference that you may raise Teramining hashing per share if you can give more based on what you end up being able to offer, but you didn't want to offer more before knowing you could provide it.

By the silence from EskimoBob's lack of response, I can only assume that I have answered his questions to the best of my ability. I have tried to give a clear upgrade path that is guaranteed.

However, considering the trade in gives you 20x more hashing and you give 20x more hashing (for a 0.25BTC fee on 1 BTC IPO, about 20% of total given to you, I suppose we can put that as your approximate margin + operating costs).

I have to pay for upgraded equipment and am offering the opportunity for both a free or paid option. I am also still trying to make purchases of FPGA mini rigs. If everyone wants to take the free option, I'm OK with that. You can't do that with BFL....

While that increase is far less than what you can currently pay per BTC, I suspect it is so since you purchased the FPGA rigs when BTC were around 5$ per BTC if I'm not mistaken.

We will wait until ASIC shipments are eminent before we start changing the price in BTC for the upgrade.
hero member
Activity: 745
Merit: 501
July 18, 2012, 03:00:25 PM
I get it from EskimoBob's complaint about the huge difference that you may raise Teramining hashing per share if you can give more based on what you end up being able to offer, but you didn't want to offer more before knowing you could provide it.

However, considering the trade in gives you 20x more hashing and you give 20x more hashing (for a 0.25BTC fee on 1 BTC IPO, about 20% of total given to you, I suppose we can put that as your approximate margin + operating costs).

While that increase is far less than what you can currently pay per BTC, I suspect it is so since you purchased the FPGA rigs when BTC were around 5$ per BTC if I'm not mistaken.

I'm asking because I'm starting a secured BTC loan based on GLBSE assets collaterals and will need to diversify my holdings instead of being invested in only a few operations. It increases rewards and risks for me while insuring loaners against BTC devaluation or single companies failing. (Strangely, secured loan bonds are not available yet.)

~~~~~
I'll be back to you about the GPUs. Will need to verify something.
vip
Activity: 1358
Merit: 1000
AKA: gigavps
July 18, 2012, 02:49:17 PM
I'd like to know what will happen with the GPU mining part of your operation with this.

I would like to know too!  Cheesy

That's almost 4 times as much mhash/BTC to buy a Single for yourself.

Others have pointed this out. Mining bonds have a premium associated with them because I take on quite a few risks.

For current shareholders, upgrading is advantegeous for 0.25 BTC to get 95 mhash/s extra. But that means I cannot possibly buy in currently as prices are not as interesting. I suppose that makes the not open to public twice as valid. I'm going to assume you're going to trade in your FPGA rigs and pay the difference for 4 SC Mini Rig for the 4000 Ghash?

Your assumption is correct.

Which brings to the next step that GPUs will become way too power hungry by then with difficulty increase compared to generation, not unlike CPU is not worth mining with right now.

What will happen to your GPU farms? If I'm not mistaken it generates a vast part of the hashing right now. I'm interested to know about their fate
(resold?).

This is kind of the million dollar question and I really don't have an valid answer at this point. GPUs will become unprofitable and I'll probably wait until then to figure out what to do with them.
hero member
Activity: 745
Merit: 501
July 18, 2012, 02:38:30 PM
ASIC UPGRADE PROGRAM
Code:
                 GIGAMINING   TERAMINING
Total Gh/s      200Gh        4,000Gh
Mh/s per bond   5Mh/s        25Mh/s
Total bonds     40,000       160,000

I'd like to know what will happen with the GPU mining part of your operation with this. If you look at numbers:

~~~~~~~~~~

A paid upgrade would be 1.10 BTC bond + 0.25 BTC for upgrade (1.35 BTC) will give you 4 x 25 mhash/s bonds for 100 mhash/s.
100 mhash / 1.35 BTC = 74 mhash/BTC for paid upgrade

~~~~~~~~~~

an SC single would cost 147.4346 BTC currently and offer 40 000 mhash
40 000 mhash / 147.4346 BTC = 271.30 mhash/BTC for self purchase of ASICs

That's almost 4 times as much mhash/BTC to buy a Single for yourself.

~~~~~~~~~~

For current shareholders, upgrading is advantegeous for 0.25 BTC to get 95 mhash/s extra. But that means I cannot possibly buy in currently as prices are not as interesting. I suppose that makes the not open to public twice as valid. I'm going to assume you're going to trade in your FPGA rigs and pay the difference for 4 SC Mini Rig for the 4000 Ghash?

Which brings to the next step that GPUs will become way too power hungry by then with difficulty increase compared to generation, not unlike CPU is not worth mining with right now.

What will happen to your GPU farms? If I'm not mistaken it generates a vast part of the hashing right now. I'm interested to know about their fate (resold?).
vip
Activity: 1358
Merit: 1000
AKA: gigavps
July 18, 2012, 02:33:45 PM
The remaining Teramining bonds will not be sold or have coupon payments paid out on them.... this is still confusing...

does this mean there is going to be a limit on the number of bonds (of course) and the "remaining" bonds are those exchanged from giga to Tera?  thereby meaning if it is a 1:1 upgrade 1 Teramining bond is taken from the pool of total bonds and if it is a 1:4 upgrade 4 Bonds are taking from the Teramining pool?

Naelr

You are correct. The remaining bonds are from the exchange as not everyone will take the paid upgrade. The way it works is:

Code:
                 GIGAMINING   TERAMINING
Total Gh/s      200Gh        4,000Gh
Mh/s per bond   5Mh/s        25Mh/s
Total bonds     40,000       160,000

So, there are 4x as many teramining bonds and gigamining bonds. This is to allow for both the free upgrade (1:1) or the paid upgrade (1:4).

An example would be if you had 1000 gigamining bonds and took the paid upgrade, you would pay 250 BTC and would get 4000 Termining bonds.

If you took the free upgrade with 1000 gigamining bonds, you would get 1000 Teramining bonds.

Hope this helps.

Best,
gigavps
full member
Activity: 231
Merit: 100
July 18, 2012, 02:25:22 PM
Giga, can you clarify this statement for me please... sorry if i missed it I have read (I think ) the entire thread and didn't find what I was looking for.  

Does this mean if I own gigamining bonds when/if teramining goes into effect and I don't move them they will do nothing?  That is how I read this statement...

If Teramining does go into effect why would anyone leave them as gigamining bonds?  or is this a way to clarify that one would have to purchase gigamining bonds then move then to Teramining or all you own is a dead bond that does nothing?

Thanks

Naelr

Hi Naelr,

Sorry if that statement was confusing. To clarify, gigamining will keep paying out bondholders every Monday until all of the bonds have upgraded. What I was trying to say above, is that the only way to get Teramining bonds is to own Gigamining bonds. Also, if someone takes the free upgrade, the remaining Teramining bonds will not be sold or have coupon payments paid out on them.

I hope this clarifies things a bit.

Best,
gigavps

The remaining Teramining bonds will not be sold or have coupon payments paid out on them.... this is still confusing...

does this mean there is going to be a limit on the number of bonds (of course) and the "remaining" bonds are those exchanged from giga to Tera?  thereby meaning if it is a 1:1 upgrade 1 Teramining bond is taken from the pool of total bonds and if it is a 1:4 upgrade 4 Bonds are taking from the Teramining pool?

Naelr
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