I am more interested in gauging interest than a final count. It is fine if you prefer to wait.

Thanks to everyone for your feedback thus far on the transition from Gigamining to Teramining. The response has been overwhelmingly positive thus far.

If you feel that your holdings in Gigamining are going to be stable until October, we can start the process of collecting upgrade choices.

https://docs.google.com/spreadsheet/viewform?formkey=dE1KdUpIRWNGbmQ0c3QtTzB2YzFPSmc6MQ

The form should be pretty simple to fill out and will allow me to start getting a sense of what's to come.

Best,
gigavps

Thanks to everyone for your feedback thus far on the transition from Gigamining to Teramining. The response has been overwhelmingly positive thus far.

If you feel that your holdings in Gigamining are going to be stable until October, we can start the process of collecting upgrade choices.

https://docs.google.com/spreadsheet/viewform?formkey=dE1KdUpIRWNGbmQ0c3QtTzB2YzFPSmc6MQ

The form should be pretty simple to fill out and will allow me to start getting a sense of what's to come.

Best,
gigavps

Only a fool is 100% certain unless we are talking about death.

In regards to getting con mining gear, I have donated heavily towards the 2.5.0 release of cgminer. This should go a long way to helping con getting any equipment he may want or need.

I would also recommend others donate to him so that he can purchase some ASIC gear.

Hi DILLIGAF,

I'm sorry you feel it necessary to call me names. I find it to be poor taste on your part and it doesn't really help your argument much. Posters in the gigamining thread have already said as much, but it seems that you don't learn your lessons.


Since you are so interested, I'll clue you in. Your information in imperfect. I am actually waiting on a reply from a mini rig purchaser to buy more mini rigs before ASIC comes out. I have yet to hear an answer, hence why I have yet to post anything about it.

You would be wise in the future to ask questions before calling me names and assuming my intentions. From your past actions though, it seems you will not learn this lesson.

Best regards,
gigavps

Hi Sukrim,

The price for the upgrade was not meant to be a reflection of the value of gigamining. I wanted to give as much value for gigaminers ONLY.

This is why Teramining will only be release to existing bond holders and why the upgrade price is attractive.

Thanks guys.

The feedback thus far has been positive overall both on the forums and IRC.

+1

I have answered this question in the Q&A.


I have done some initial calculations and I would agree with this assessment.

I have answered this in the Q&A post.


Thank you for your feedback. I will take this into consideration.

To all gigaminers:

I am requesting feedback on the upgrade paths to teramining.

https://bitcointalk.org/index.php?topic=92090.0

Please comment in the other thread if you have any comments or suggestions.

Best,
gigavps

Q&A

Q: Will Gigamining exist after Teramining is released?
A: If everyone does not upgrade, gigamining will still exist. Only once all bonds are recalled will Gigamining cease to pay out coupon payments.

Q: Will you send a notice out to Gigaminers as we get closer to ASIC arriving?
A: Yes. I will make EVERY ATTEMPT to make sure all Gigaminers upgrade. This includes more forum notifications and through GLBSE.

Q: How will you upgrade bond holders?
A: This will be a manual process using a spreadsheet and the transfer function of GLBSE. I will work with nefario to make sure they are compensated appropriately.

Q: When can I let you know my intentions of upgrading?
A: If you feel your holdings will be stable over the next couple of months, you may fill out this form.

Q: When will the upgrade process start?
A: This will probably start once I receive the equipment. That being said, I also need to make sure things are stable before releasing the new bond.

Q: Will you ever sell more Teramining bonds?
A: This is very real possibility, but for the initial release of Teramining, I want only current Gigamining bond holders to have this opportunity.

Q: Will the .25 BTC upgrade price be effected by a big swing in exchange rates?
A: Yes. If the price of Bitcoins goes to $12 in October, we'll set a new BTC price for the upgrade.

Q: Will you change your forum handle to teravps?
A: No. My wife likes the word "giga".  

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

Roulette and blackjack FTW

I'm attending the casino and surrounding attractions.

Who has time for defcon when you can gamble with a pirate?

What happens in Vegas, stays in Vegas.....

How do you not know this?   

Damned Cylons!

Don't forget that pirateat40 and I are also the same person.....  just sayin.

Only problem is that I arrive on the 27th....