Topic: Gigamining / Teramining - page 96. (Read 216450 times)

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

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

Buying a few gigamining bonds every week... will upgrade but make the choice free or pay when the time comes...

If I have 100 gigamining bonds can I do 50 pay 50 free?

Thanks giga keep up the good work I feel if my BTC is sitting in my wallet doing nothing as is has since i started mining except for some trading on Mt. Gox and the purchase of a BFL.... why not buy some bonds and let it sit there earning me 5 Mh/s PPS ... I look at is like leaving your money in a CD ... you aren't going to be doing anything with it anyway.... What does a bank do with your money.. they invest it... it is your money but they have it .. what is the difference in what giga is doing?  Hold my BTC giga... pay me to hold it ... thanks sir keep doing what your doing!

Naelr

To all gigaminers:

This weeks coupon payment is out. This coupon payment was back at 100% and will remain here for the foreseeable future.

Best,
gigavps

Thanks for the update Otoh.

37% of all outstanding bonds have now reported in.

Congrats! I bought an additional 1,000 shares yesterday that you can add to those I listed on your form for the paid upgrade path, many thanks.

Or buy teramining from people who sell them just like now with gigamining.

To all interested parties:

Seems the recent ASIC upgrade path announcement as caused a bit of a stir in the market. Gigamining has now traded over 50,000 times during the course of it's life of glbse.com. Gigamining is the first to reach this milestone!

Also, for those interested in getting into ASIC mining, the ONLY way to get Teramining initially will be to own Gigamining.

Best,
gigavps

This is correct.

Form is just to know how many are willing to change to teramining. Its for rough calculation not exact/complete one.

I already submitted the form, but then I bought more shares. Could you put me down for going the paid route for all of them?

To all gigaminers:

Thanks to everyone who has responded to the google doc form so far! Seems ~30% of all the bonds out there have responded. There is no need to hurry as we have plenty of time, but this definitely helps me plan accordingly.

Best,
gigavps

All I know is I hate to see those divs for the coming weeks.  Quite a drop.

It's got me thinking whether I should buy or wait.  I still see a drop in price happening.  Wait!

The issue is nowhere near ripe. And ASICs from BFL may never come to fruition making the whole issue moot.

Hi Sukrim,

Good suggestion. I think we'll wait on this a bit for bond holders to make their moves. I will give ample notice about the move to teramining. I do like your idea and will keep it in mind.

Best,
gigavps

May I suggest that you already set up Teramining, allow for swaps and until "Day X" comes simply pay out the same on both bonds? I'm sure I might forget exchanging my bonds or have liquidity issues just when I need to pay the .25 BTC per bond to upgrade...

You could simply do 1:1 swaps + keep a public pseudonymized spreadsheet with a unique address per person:

Most of this can be made/checked automatically, you'd only need to take the snapshot on day x (after announcing it etc.), hand out the additional shares and start paying out the new MH/s on Teramining.

You're getting pretty close to libel, buddy. Internet pseudonymity is cool and all, and I get that everyone likes to look super opinionated and win at arguments, but you might want to tone down your language a bit (especially when you have so little to go on).

Hi EskimoBob,

Since you didn't like my last response, we'll take your new post in parts so that I can talk to each point you make.


Thanks for taking the time to do some math. However, I don't appreciate being called a scam artist. I would kindly ask that if you would like to be respected, please respect others.


So your calculations for the $/Gh decrease look correct. At this point in time, I have 4 mini rigs and cannot promise anything more until some things happen.

Would you rather I promise what I cannot deliver?


Every miner faces this. It's not just bond holders. It is however the one of only three risks that bond holders take on along with bond price fluctuations and BTC price. I take on ALL the other risks of running the bond. You do not have to worry that cgminer crashed yesterday and 50Gh was down for 4 hours.

Do you think that taking on these risks does not deserve a premium?


All I can do when faced with this situation is either let gigamining die on the vine or work really hard to get ASICs.

What do you prefer me to do?


I have tried to give people a way to choose a free upgrade path. I have funds allocated to getting to 200Gh before ASIC arrives and to also upgrade equipment. BFL has made everyone of their customers double down if they want to remain viable in the mining game. I am not, yet you tell me you feel scammed because of this.

Would you rather I only have a paid upgrade option like BFL?


Again, I try to treat most everyone on the forums with respect. I have failed in the past on this because I am not perfect. I will ask again that you try to do the same. Hopefully my more detailed response here will rectify your issues with my previous post.


So, EskimoBob, would you rather I make no money and go out of business at the first sign of trouble? It seems your argument is that because I make BTC doing this that I am somehow doing something wrong.

I look forward to your response.

Best,
gigavps

You are using 25GH for the current bond instead of the correct number 200GH...

To all gigaminers:

The third and final 110% coupon payment is out. The next coupon payment will be back at 100%.

Best,
gigavps