In my previous post to Gigamining -> Teramining Upgrade Path I attempted to figure out is this upgrade a really sweet deal or this just another rip off wrapped in a shiny paper and offered to us by a beady-eyed, smooth talking scam artist.
Code:
Table 1
$ Gh $/Gh
1. Paid by bond IPO FPGA SC 15295 25 611.80
2. Upgrade IS paid by
bond IPO on line 1 ASIC SC 29899 1000 29.90
Initially paid by IPO,
conv. to ASIC, gain ratio 20.46 x
I guess it is clear what I did here in Table 1. All the FPGA stuff that vps has ordered and is pay'd by you, dear turd ("bond") holders is getting swapped to 20.4 times faster equipment. And yes, it is all paid by you.
We got our 5 Mh turds for it and when diff started to climb, people started to realize that 5 Mh will keep losing value fast. (This trend will continue in long term and same thing will happen to 100 Mh ASIC turds.) People got pissed off and then the a* holes from BFL released the PR FUD package.
Now most of you realized, that 5 Mh turds will be worthless in matter of [insert BFL promised time frame here]. Suddenly people realized tha VPS can swap this pile of FPGA to 20 times faster (per invested dollar) ASIC's and ... here we are now.
Next table
Code:
Table 2
Upgrade Giga 5 Mh T new Tera Turd Mh gain ration Your Loss
No additional fee 5 25 5 400%
Pay 0.25 BTC per bond
(25% IPO price) 5 100 20 (You have to pay a fee!)
Fee adjusted swap 6.25 100 16 27%
Here, in Table 2, I am trying to understand, what really happens, if this swap gets completed.
At this point, it looks like I am getting scammed no matter what I do.
Code:
Table 3
Shares sold fee for vps skims
in IPO nothing BTC
Fee will generate up to 40000 0.25 10000
20% will be happy to lose 400% 8000
30% will be happy to lose 400% 7000
Quote
"Your assumptions are off as not everyone will choose the paid upgrade path. I have tried to keep Gigamining owners from being left behind when ASIC arrives with the free upgrade option.
I appreciate you taking the time to reply.
Best,
gigavps"
I appreciate you taking the time to reply.
Best,
gigavps"
As you can see, he is not denying that he rips us all off and pockets a massive amount of BTC. As a slippery politician, he just made most of you feel all warm and fuzzy.
Did I calculate something wrong? If so, can you please keep it to the point and use similar layout, so we all can see, where did I go wrong.
Cheers!
PS! I feel sorry for ya'll who have to spend your days indoors. Rain has stopped and my kayak is ready to go
