05:20 <+MintBot> Gigalicious! gigavps mints a BTC block (height 202290, income
50.02202500 BTC, 22 minutes, CDF 14.15%)
Gigalicious baby!  |
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I joined coinlab recently. When exactly is the monday payment?
On Mondays.  Really, there is no precise hour for payments, is not an automated process, they are processed manually by Chris. So that is gonna take a while. Just wait few more hours. In all seriousness, it seems they have an automated process that runs when they press a button. Coinlab is on the West Coast of the US, so it's 6:12am there now. I would not expect to see a payment for at least 8 to 10 hours. Also, you'll need to have mined more than 1 BTC in order to get a payment. |
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I joined coinlab recently. When exactly is the monday payment?
On Mondays. |
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Good morning Gigaminers:
As I'm sure most of you are well aware, this morning should mean another coupon payment. Unfortunately, due to events related to GLBSE and outside my control, coupon payments will not be made today. This makes me unbelievably upset, as I'm sure it does most of you.
I also stated before, that today I will retain counsel to best decide what to do with the situation we are faced. I appreciate all of your suggestions and comments, but please be patient while I work through all of the issues we face.
Best,
gigavps
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So, to late, but:
You can estimate some address, public it here and transfer in future coins which should belong to us to make it possible for us to check them waiting, even if it will be forever.
Right?
I doubt I will be putting too many coins at any single address. The coins are in my local wallet that has been backed up. |
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Maybe it would be a nice idea to transfer the coins you would have normally paid on glbse to the bond holders to a special bitcoinaddress.
That way everybody can see the coins are still there for when you will be able to pay them to the bond holders.
Hi pieppiep, GLBSE has the coupon payment for tomorrow which is 470 coins. I sent the coins to GLBSE hours before Nefario decided to shut down the site. I continue to mine as you can see from the status pages and will continue to stockpile the coins. Best, gigavps |
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So Gigavps and anyone else: Did we ever decide on what a good share target was? 20? 24?
I would think the higher you can go the better. The problem I see with this calculation is that not all of my mining equipment runs at the same speed. So while the mini rigs could do with a higher diff, there are also graphics cards that run at 1/5 the speed. So there is much higher variance for some devices depending on my overall hash rate. I like the idea of a set higher diff for everyone who chooses it. At diff 5, you've reduces the work your pool servers have to do by 5x. |
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Thanks for your response.
I hope you can drive this to a good ending.
I know this doesn't concern to you, and even it could be off-topic, but I would like to ask to the rest of bond holders in this thread what they know about getting their bitcoins in GLBSE balance back.
This is off topic to the thread but I will leave some links for you to read. https://bitcointalk.org/index.php?topic=115669.0https://bitcointalk.org/index.php?topic=117009.0The second link is a nice summary of someone's post who I guess is close to Nefario. |
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gigavps,
what's the path you recommend to all of us to follow to probe we own a number of bonds?
I got a screenshot of my portfolio.
Hi johnlu, I am working with counsel on Monday to determine a proper course of action. All coins mined are being stockpiled and held until such a time as a proper and legal course of action can be determined. Once I have this information, I will update everyone on the next steps and how to proceed. We are in uncharted territory and I want to make sure that I am going to be around to spend time with my daughter and find an amicable solution to GLBSE effectively no longer acting as the broker and exchange. Best, gigavps |
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Gigavps,
If nefario sends you a list of asset holders from the point GLBSE was taken down, i dont see why things cannot continue as normal, only the ability for asset holders to trade their bonds is halted. GIGAMINING coupons can still be paid directly by yourself, and TERAMINING upgrades/payments can also still be made in the future.
I know the legal side of things may need to be resolved, but from what i can see you should still be able to fulfil the payments, after all we hold mining bonds which represents hashing power.
occulta
Hi Occulta, I have ever intention of continuing to fulfill the Gigamining contract once I have the information to do so. Coins are accumulating and will be paid when they can. As for Teramining, it is on hold until such time as I can fully understand all of the legal aspects. Best, gigavps |
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People bought or kept gigamining bonds with the expectation of being able to trade them in for terramining. Had there not been an upgrade path, Im sure they would have traded a lot lower.
However, like I said earlier, I dont think this is your biggest problem right now, nor is GLBSE. You were, I believe, fully authenticated at GLBSE, chances are the SEC will be contacting you about your sales of unregulated securities. That they are denominated in bitcoin rather than dollars, AFAICT doesnt change a thing, and the potential penalties are severe, including up to 5 years in jail. You can also expect to be forced to refund your bond holders for the full IPO price on top of paying a hefty fine.
You might be a very small fish for the SEC, but if they are going after anyone, it will probably be you, since they would have your ID, you are a US resident and the largest asset issuer on GLBSE. Lawyer up James, you should have done that a long time ago.
Hi Puppet, Unfortunately, we can't have it both ways. Either you want me to start doing things to protecting myself or you want to me continue on. Which do you prefer? Thanks, gigavps |
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I'm confused. I was suspecting this since my previous post in this topic (where I asked if you could operate after GLBSE failure) I understand the answer as yes (conditionally, but this conditions are fulfilled). I understand why you cant imagine to work with other operator and trust it, but, can't you use smart contracts decentralized exchange? Would you do that and continue plans with terminating if exchange like that sugested in https://bitcointalk.org/index.php?topic=112728.msg1219438#msg1219438 would be available. I don't want to press, but I would feel cheated if you take an effort to start teramining just because GLBSE closed. Of course only if last data from GLBSE will get rescued somehow. Hi szuetam, I'm sorry if this disappoints you. I do not like the position we have all been placed in by Nefario. I will do my best to do what I can, but I have no means to guarantee anything at this point, including the current Gigamining contract. We are playing the waiting game until Nefario delivers what he said he would. Best, gigavps |
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So are you not launching Teramining after all?
Also, is there any issue with regard to legal implications for yourself? I'd lawyer up after everything that's been said...
There may not be a Gigamining for all we know. At this point, I have lost all control because of Nefario's actions. |
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Hi Gigaminning, how will you match assets holders with btc addresses???
Hi ianspain, I have been able to sleep on this news and I am even more troubled by his actions today than yesterday. Unfortunately, we must trust that nefario knows best in this situation and can give me the asset holder list and coins. I trusted him and lent my credibility to GLBSE and he has let everyone down and won't even give us the courtesy of telling us why. As for comments about listing on another exchange, I will not be trusting another third party to handle Gigamining. Going forward, I will be the only one handling coupon payments. This also means that Teramining, as a concept, is dead. The main feature of Gigamining/Teramining was for parties to be able to buy and sell them at will. I will fulfill my contractual obligations, if/when GLBSE hands over the necessary information. Best, gigavps |
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To all Gigaminers: According to Theymos' post, GLBSE is closing down. I have personally spoken with Nefario and he has stated that Gigamining coins and the list of asset holders would be available on Monday. Once I receive the list and coins, I will work to make a script to keep coupon payments going. As for anything beyond this, it will be difficult to continue without Gigaminers being able to buy and sell when they choose. As far as the future is concerned, we can consider everything on hold until I can further assess the situation. Best, gigavps |
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$0.31 facillitator fee for DWOLLA payments?
Take bitcoin payments then. The pool doesn't charge a fee. I think it's perfectly fair to charge for premium features like dwolla payments. |
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If there is any truth in the rumor that this is SEC related, and if even if there is not, you may want to lawyer up if you havent already. That goes for all issuers of assets on GLBSE, but particularly US residents and non anonymous ones like yourself. Selling of unregistered securities is a felony, and its hard to see how GLBSE bonds would not be considered unregistered securities, if even this is: http://invest-faq.com/articles/warn-unreg-secur.htmlHi Puppet, If what you are saying were true, it would mean that the US Government would need to recognize Bitcoin as money. Best, gigavps |
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Now this huh? Time to start a transparency in bitcoin business network.
Hi SysRun, Are speaking about glbse and nafario, or is this comment about gigamining? Thanks, gigavps |
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