Okay Gigavps, I know that you are probably very busy, but feel free to respond to this if you have time anytime in the next few days. i am trying to wrap my head around your response. The first thing that I did was to read the Wikipedia article on short selling. Please let me know if I am off base in any of my understand. This means mining bonds are effectively short BTC price appreciation. From Wikipedia: In finance, short selling (also known as shorting or going short) is the practice of selling borrowed securities or other financial instruments, with the intention of subsequently repurchasing them ("covering") at a lower price. So if my understanding of the two quotes above is correct, this what you are saying: My goal with Gigamining should be to make a short term profit by betting that I yield more dividends than the price drop in a fixed (short) period of time. I could choose to repeast the process over and over again. So I buy 100 shares at 1BTC /share, make the dividend, sell the 100 shares at 0.95, buy them back again at 0.9, repeat the procces over and over again. Is this basically correct? It seems to me that the other possibility is to look for a perpetually income by reinvesting all dividends in Gigamining without ever selling hoping that the continued accumulation of shares eventually means a rapid accumulation of a lot of shares that are worth very little, but I will then be receiving a very large weekly dividend payout because the dividend yield will have gone done much more slowly than the share price. Is this a correct analysis? Hi tmfp143, Basically, when the BTC/USD price increases, it would be mean you have more buying power in USD things like mining equipment. If your BTC have more purchasing power, it should take less of them to buy 5Mh/s. Best, gigavps |
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Gigamining offers you a free upgrade when they get their asics, but a 4x increase (IIRC?) will do precious little to offset the difficulty explosion you are about to see.
Hi P4man, Are you recommending that I shouldn't even offer an upgrade? Thanks, gigavps |
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Dear Gigavpis, Thank you so much for answering my questions so patiently. You have DEFINITELY earned a lot of my respect. Also, thank you for the info. I have to go do some research on "shorting BTC price appreciation". When I invested in traditonal stocks, I always avoiding the whole shorting stocks concept because it seemed far too risky. But thank you for taking the time to answer my questions so carefully. I'm going to do some research. I probably won't have any more question. When I understand the answer in your last response, I think that I'll have the whole thing. Cheers!  BLUECHIP You are quite welcome. I personally like asking questions and usually ask a lot of them when I am learning, so if you have more and can't find an answer, don't hesitate to ask. |
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Okay, I found this and it helped me to better understand the change in difficulty over time. I understand that difficulty is a function of how many people are mining at a given time, if Bitcoin prices go up, more people want to make a profit, so more people mine. The curve here looks like it started out linearly but has started increasing at a great than linear rate starting around June of 2012. http://bitcoindifficulty.com/However, here is the thing that I don't understand, Bitcoin prices have also increased more than linearly during that time, so in theory, a mining operation should become MORE profitable. Wouldn't that make it a more desirable investment? Shouldn't the share pirce go up? Okay, I undertand that difficulty has gone up a lot since June 12, so there is a lot more competition, but I still can't see asny mathematical reason for the share price of any security to go down exponentially when BTC price is going up. If this were the true reason, why hasn't every Mining bond gone down exponentially in price? I know that I may not get any responses to this. I am not trying to peeve any body off, I would just like honest answers so that I can make informed decisions. Thanks again! BLUECHIP Hi tmfp143, You are purchasing a fixed amount of Mh/s with each gigamining bond. Mining equipment is priced and purchased in USD. So when the value of bitcoin goes up, a single bitcoin can purchase more mining power in USD. This means mining bonds are effectively short BTC price appreciation. Best, gigavps |
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Hello! I manage the BLUECHIP mutual fund on GLBSE. The fund owns 40 shares of GIGAMINING. What is the plan to stem the drastic loss that the share price is taking? I recommend buying back shares. I pray that the plan is not to let the share price keep dropping until it reaches 0. Are there any updates on the ASIC upgrade? If the price of my stock were dropping this fast, I would be more proactive. I would give my investors more frequent updates to build confidence. I am kind of stuck at the moment. I don't want to dump the shares at a loss, but the lack of information makes it hard to make a decision. I recommend addressing this issue, and doing something to restore investor confidence, if possible. I read the earlier comments about not being willing to discuss personal finances. In my opinion, the bottom line is this: if your company is on the verge of failing, there can be no items that are not up for discussion unless you want the enterprise to fail. If GIGAMINING truly is a venerable enterprise (which I thought it was, that's why I invested in it) then DO SOMETHING. SAY SOMETHING. Don't just sit there and let it drop to zero.  It seems like you have not done your reading home work. Gigamining is not a company it's a bond GigaVPS has no obligation to control the price nor do anything about the price falling, this is natural due to the increase in difficulty. //DeaDTerra Hi tmfp143, DeaDTerra is correct that gigamining is a bond and not a share in a company. EskimoBob is also correct in his assessment that mining bonds are long difficulty and short on BTC price appreciation. As for you request for me to intervene in the free market setting the price of Gigamining, there is not much I would be able to do. I will faithfully continue to fulfill the terms of the contract. Best, gigavps |
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The forum software should block eitting or deleting posts that arent he last post in a particular thread. This is just annoying Reeses.
Keep your face-cunt shut, sweetcheeks. You're attracting flies. Witnessed. |
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Are there any news/progress with roll-n-time support for cgminer?
Will this feature be available soon?
Should be done today I hope, but needs some testing too. I hope it will be up and running sometime this weekend. We'll find out soon. yay! |
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Well I just pre-ordered my ASIC, however I made sure to use google checkout. I am somewhat uneasy when I see a site taking credit credits when none of that information seems to be encryped (no ssl or whatnot). Whats up with that?
although our site does not have its own SSL certificate the credit card info is processed over HTTPS via our processor Stripe.com It is totally secure and we never get any access to any of your credit card information for more information on Stripe's secure API please read here: https://stripe.com/docs/api#authenticationI just checked and up until the actual card info submission everything is in the clear. The submission is done with some Javascript, so it's hard to follow, but a search for any https URI in the page source doesn't show up anything relevant to the card info submission so I assume it's done in clear text. Even if it wasn't done in clear text and over SSL, it's not secure by any means : if all the content shown in the submit page is not delivered over SSL, there's no way a user can verify that the submit button will actually submit the card information to you : a trivial man-in-the-middle attack can modify the page and make it submit the card info anywhere before actually submitting it to you. I didn't see this because I used Bitcoins but you can be sure I'd never have ordered anything by credit card in the current state of your site. I'm quite surprised the provider you use didn't educate you on this subject and didn't validate your current configuration before allowing it in production. It seems that the site loads javascript from stripe that submits the credit card information over https directly to stripe. I would still not want the rest of my information submitted over plain text. I would recommend an SSL certificate to ease the mind of consumers who cannot clearly tell what is going on. |
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Does this sound like I'm bullying? The truth is it just takes time to have these kind of chips made, and then you still have to have the boards assembled. its a lengthy process. I am just happy we finally have a prototype that works that we can move forward with this is something that has been in the works for awhile.
I guess if you have a prototype working you wouldn't mind throwing a quick video up showing it running on a pool. The response below seems a little harsh for asking for a video... it is absolutely ridiculous and asinine to try and bully someone into revealing photos and video of a prototype in a market such as this. I am sure BFL does have a prototype, if they do not have a prototype there is no way in hell they will be shipping anything in November.
I do not know for what reason I would make this up, I have never scammed or done wrong to anyone on this forum ever, I delivered on the ModMiner quad and I will deliver on this, if for whatever reason you think I am making this up please by all means do not buy it. I will not be bullied into doing something I do not feel comfortable doing.
If you want to make this about me, we can, but that would be off topic for this thread. I've asked for a simple thing. If Tom does not want to provide it, that's fine also. If he did provide it, it would probably guarantee him $100k in orders in a single day. |
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just tantalize us with a little show
That's all I'm sayin.  |
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I really don't understand how you can have faith in BFL, who are making highly doubtful claims, but are not believing a single word of what cablepair says. Really, if he never talked about having a prototype you would believe him?! But because he says he has one he has to show it?! Why? You don't get a single piece of information from BFL, yet you are ordering products from them.
Do you know more than "we" do? How can you be so sure that BFL will deliver what was promised? How can you say that cablepair claims "cannot be taken seriously" - ONLY because he does not want reveal the prototype? That's the ONLY reason? Or is it more like you don't think he is capable of doing something like this?
Even if it I may sound this way, I'm not affiliated with cablepair. I just don't get why you are HIGHLY sceptical of what cablepair is doing - but seem to have blind faith in BFL.
Sorry, but to me it looks like you are massively biased towards BFL. (Well, I guess you are one of their best customers.)
I have over $80k in equipment running right now from BFL. They have delivered. BIG. This is why I tend to believe BFL. Admittedly, I have never bought one of the mod miners. This is why, when Tom claimed to have a prototype, I simply asked that he give us a little taste. His reaction to my request was quite hostile though and very unprofessional. This is the only reason that I believe Tom would have something to hide. |
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x
Nothing else is claimed by cablepair.
Tom has stated that he has a working prototype. When BFL was making the single, they let Inaba come by with his video camera and show that it was working, although not up to the speeds originally announced. Tom, please take out your video camera and make a video of this working prototype. |
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c'mon, it's not like BFL have presented loads of evidence to back up their ASIC figures.
Hi Shadow383, And they have never CLAIMED to. Tom, on the other hand, has made this claim. I'm making a super simple request to back up his public claim. If BFL made this claim, I would do the same. Best, gigavps |
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James:
Why not tell them the real reason your doing this? You hate me and I hate you. Be honest about it man,
You and I have never gotten along and this is the reason you are trying to cause a problem for me.
Hi Tom, I certainly do not hate you. I'm sorry that you have room in your heart to hate me. So, since you are unwilling to back up your claims with proof, you statements cannot be taken seriously. Peace & Love, gigavps |
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C'mon James
enough with the show already man
you know damn well you are only doing this because of the past we have
He hates me and I hate him, we have never gotten along
If this were someone else you would not be doing this.
You have my official statement on the matter, and its not going to change. You posted your question and I gave you a response, if you continue to harass me I will report this to the staff
thank you.
Hi Tom, I certainly do not hate you. I'm sorry that you have room in your heart to hate me. If you would like to report my posts for asking you to back up your claims, be my guest. So, since you are unwilling to back up your claims with proof, you statements cannot be taken seriously. Peace & Love, gigavps |
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it is absolutely ridiculous and asinine to try and bully someone into revealing photos and video of a prototype in a market such as this. I am sure BFL does have a prototype, if they do not have a prototype there is no way in hell they will be shipping anything in November.
I do not know for what reason I would make this up, I have never scammed or done wrong to anyone on this forum ever, I delivered on the ModMiner quad and I will deliver on this, if for whatever reason you think I am making this up please by all means do not buy it. I will not be bullied into doing something I do not feel comfortable doing.
Hi Tom, I have simply asked for a video since YOU have stated that you have a prototype. If BFL said they had a prototype, I would ask for the same proof. Please tell me, how I am being a bully by asking for proof? Your reaction to my request makes me believe that you probably do not have a prototype and probably only have a software simulation. Please prove me wrong. Best, gigavps |
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yes it does, obviously you have been watching my 24 hour countdown and need to refresh your cache
the redirect has been working since about 2pm EST
for help refreshing your cache I would check youtube for an instructional video
btw: your welcome for my technical help
I'm not sure it's web development best practice to make your users clear their cache but thanks for the assistance. Now back to the topic at hand. It's seems that Tom has made a claim that they have an actual prototype. 27Gh/s is not an estimate its based on real testing of a real prototype
and again we are using very basic software at this point, the speed is likely to increase once my software guys get to work on the firmware and mining software
Tom, please provide a video of the prototype working on a pool. Thanks, gigavps |
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The truth is it just takes time to have these kind of chips made, and then you still have to have the boards assembled. its a lengthy process. I am just happy we finally have a prototype that works that we can move forward with this is something that has been in the works for awhile.
I guess if you have a prototype working you wouldn't mind throwing a quick video up showing it running on a pool. I will when BFL does the same. Hi Tom, To my knowledge, BFL has never stated that they have a working prototype. You just made a statement that you DO have a working prototype. If you are going to make such statements, it should be a pretty simple task to make a video showing it working. Thanks, gigavps |
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wow that must of been hard to find considering I am only running 5 dedicated Bitcointalk forum advertising slots which links to that same page! How on earth did you find it?  Hi Tom, Thanks for you sarcasm. As for your ad link, it goes to http://www.bitcoinasic.com/ and this page does not redirect to btcfpga.com You're welcome for the technical help. Best, gigavps |
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