Topic: The Most Competitive Mining Bond - Synergy @ 25Gh/s [GLBSE] (Read 12782 times)

Is the 0.00057142 BTC/share weekly dividend expected to continue for awhile?

Are there any plans to upgrade to a minirig SC?

It probably wont be as well received as cognitive. A few moderators dont like perpetual mining bonds. 

Synergy is up for vote by the site mods in the "Awaiting Approval" tab.

Pending approval, it will likely be imported similarly to Cognitive.

Cheers.

I see that you have put Cognitive up on Btct.co.

Will you be doing the same with Synergy?

If not, what is the situation for shareholders as you now have, according to Nefario, the shareholders list?

so if I am correct  - you will upgrade at some point and catch up with the trend.
And the upgrade will be free by default with an option to pay more and get even more.

Right ?

" it will likely be similar to GigaMining's."  - which is ? Give me a link or the gist of it.

To all interested parties:

I would like to request gigaminers and other interested parties feedback on the upgrade paths from Gigamining to Teramining. I have outlined my initial thoughts below but this is not final and could be changed based on community feedback.

I will offer a trade-up program from Gigamining to Teramining. Below is what each bond looks like from a numbers perspective:


You will notice that Teramining has 4 times the number of shares as Gigamining. This is to allow for both a free and paid upgrade path.

Free Upgrade Path
I will offer a 1:1 exchange of Gigamining bonds for Teramining bonds that costs nothing to upgrade. An example would be if you have 400 Gigamining bonds and don’t want to pay to upgrade, you can swap them 1:1 for Teramining bonds. This would represent a 5x increase in the bonds hashing power at no additional cost. So in this case, the 400 Gigamining bonds (2Gh) would be upgraded to 400 Teramining bonds (10Gh).

Paid Upgrade Path
I will also offer a 1:4 exchange of Gigamining bonds for Teramining bonds. So, if you have 400 Gigamining bonds (2Gh) and pay the upgrade fee, you will receive 1,600 Teramining bonds (40Gh) in return. The fee to upgrade will be .25 BTC per Gigamining bond. So, the upgrade fee on 400 Gigamining bonds would be 100 BTC.

Initial Sales of Teramining
There will be no public or private offering of Teramining to the larger community. The only way to receive Teramining bonds will be to trade-in your Gigamining bonds either through the free or paid upgrade paths. Any bonds not sold will remain in the gigamining sub-account and will not have coupon payments paid out on them.

Contract Changes
The only contract change between Gigamining and Teramining is the amount of Mh/s per bond.

Please leave your comments and questions below and I will answer them to the best of my ability. My hope is to solidify this in a timely manner so there is less uncertainty around the future of Gigamining.

Best regards,
gigavps

hey Garr, how do you plan to cope with the rising overall difficulty and the coming of ASICS into the game ?

Will our dividends drop to 0 or what ?

Alright, I've never seen it take more than six.

It can take more than eight confirmations, just be patient.

The coupon payments for this week have eight confirmations going over to GLBSE and nothing has shown up yet... I just sent Nefario & GLBSE support messages.

GeoRW, this is really nice of you to inform us all about you shorting the mining bonds. I guess it's your desperate attempt to manipulate the market and cause a panic, so you can recover your short sells. I hope you used margin for this and end up with a massive margin call on top of it.   

BTW, I can explain the sudden spike. I started up my Icicle Cluster and got it running @ 0.69 petafldrops. That was fun but I have to add some serious water piping to this monstrosity. I am going to take it down so you better start buying back your bonds.

PS! "Trust No One" as it's written under your icon  
 

you better put those mini rigs online as soon as possible before the next difficulty change. Looking at the yesterday's huge network hashrate increase I shorted all of my mining bonds (or better what I have left from last time shorting ).

Looks like a lot of hashing power coming online these days partly due to the BTC price increase and partly to all those ordered mini rigs and singles coming online finally.

Oh! This is cool.
Can we see a picture, how they actually look like... with some proof  

I just received three BFL Singles and will be issuing additional bonds, so I am offering a bulk discount for orders of 100 or greater at 0.23 per bond!
First come first serve, so shoot me a PM.

GLBSE Fail ?!?

I think I had better plead the 5th.

Clearly he sold honey and other bee related products. :-)

I think I had better plead the 5th.

That raises the question, what did you sell?

Pirated video games on floppy disks?

I feel really old.  Bitcoin mining bonds were not what I sold when I was in school!

No physical contraband to hide in multiple illicit lockers either.

Great job guys!

Selling $200 worth of bonds to jjames888 at school tomorrow. Thanks!

OK. How much time do you estimate will be taken up by the maintenance of synergy?

How much of your attention will be diverted from cognitive to synergy? Will this hurt your cognitive shareholders in any way?

are you managing/housing it?

IANAL, but I think "one of the" and "competitively priced" make the statement meaningless in the concrete sense. Just a wee bit of advertising.

What equipment will you be using, FPGAs like with cognitive, or something else?

This will be Mini-Rig powered.

How can you claim to be the most competitively priced mining bond on the market when you are not setting the price?

Synergy will be one of the most competitively priced mining bonds on the market.

I cannot give information regarding bond prices, because I am not selling them.

I wouldn't take "This bond is 100% underwritten by a private investor who wishes to remain undisclosed." into the contract itself.

Well, the first and most obvious question is why you are releasing another mining bond when you already run COGNITIVE.

Secondly, what's the hardware ^^

Thirdly, if it's deterministic (1mHash/sec) it's already not as competitive as COGNITIVE. What is the investment hypothesis here? Will the shares be cheaper than 0.3 mHash/share to start? Are there bulk purchase options? Thanks.

Public Contract: 

The holder of this bond will receive as coupons a number of Bitcoins equivalent 
to 100% PPS output of one million hashes per second for the duration of time the 
bond is held. All coupons will be paid on the Saturday of each week for the 
previous seven days of mining. This bond is 100% underwritten by a private 
investor. If operation is ceased at any time, during the same week the Investor, 
not the Manager, will repurchase all bonds at 105% the 744 hour average price.

Great news, everyone!

Synergy is live on BTC-TC! Check it out at https://btct.co/security/SYNERGY

Bondholder info has been processed by BTC-TC this morning and everyone on the lists supplied by GLBSE will be recieving an email shortly. Be sure to check your spam folder! If you didn't receive an email and you are a bondholder, please contact me at [email protected] and include your email and bitcoin address you gave to the GLBSE claims form, and the number of shares you own.

After you receive your email containing the account login information, I recommend that you make a new account which you will more easily be able to remember and transfer the shares accordingly. BTC-TC has no internal transfer fees

Additionally, I am automatically emailed a bondholder list every 12 hours, so we won't have this problem if the new exchange ever shuts down!

Cheers,
Garrett

The holder of this bond will receive as coupons a number of Bitcoins equivalent to 100% PPS output of one million hashes per second for the duration of time the bond is held. All coupons will be paid on the Saturday of each week for the previous seven days of mining. This bond is 100% underwritten by a private investor. If operation is ceased at any time, during the same week the Investor, not the Manager, will repurchase all bonds at 105% the 744 hour average price.