Topic: Gigamining / Teramining - page 95. (Read 216450 times)

This is not correct. Teramining will be a 25Mh/s per bond.

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

Second largest trade in Gigamining history just took place @1.041. https://glbse.com/asset/view/GIGAMINING  Someone know something we don't? 


via twitter

https://twitter.com/glbse

We can fix that... 

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

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...

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?

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.

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

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.

All in all, bitcoin difficulty VS. bitcoin prices, the divs have improved.

Man those divs are looking worse and worse.  And now Bitcoin is over $9.  All I can say is damn.

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.

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?

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.


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....


We will wait until ASIC shipments are eminent before we start changing the price in BTC for the upgrade.

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.

I would like to know too! 


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


Your assumption is correct.


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'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?).

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


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

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