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are these news not a special payment of dividends worth ? outside the regular ?  The news means that Teraminers will start to receive larger and larger dividends. Since Gigamining is fixed PPS, the only things that matter for it is the number of contracts and the difficulty. Great news! Thanks James! |
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It just did not work out as planned.
+1 |
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you cannot just close this process. I will also claim my shares, but need another 2 weeks, due to your requirements and local issues in my country
'just close'? really? Didn't we start on this redirected path in early October? Shit or get off the pot, man! Amazing! |
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Any plans for a partial payment on Teramining today?
Payments went out later than normal today but have been sent. Apologies for the delay as I was traveling most of the day. No problem - Thanks! |
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Teramining / VPS has received exactly 1 jalapeno so far.....
And as I have stated before, the 9 month period of the Teramining contract will not start until all equipment has arrived.
I know this is a slow start but it is a start. And it also confirms that BFL has a working product and are resolving their outstanding issues with getting more equipment out the door.
Any plans for a partial payment on Teramining today? |
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>>> based on GLBSE trading value of 1.4BTC when you launched TERAMINING.
What does that mean? |
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To be quite honest, I have disadvantage many of the most faithful of Gigaminers who claimed early and upgraded two months ago. This was certainly not my intention and it will be rectified.
Thank you! |
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For those of us who have converted to Tera, have weekly dividend payments begun?
He hasn't received the hardware yet... |
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If the shares can be transfered I would not mind buying a few.
+1 |
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James, Based on the aforementioned, would you consider paying gigamining dividends through March 4th to those who have already surrendered their bonds for teramining? I realize we could have / should have waited to upgrade - just asking... |
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To all Gigaminers: Some who have upgraded have not liked the fact that Gigamining payments have stopped. I understand the concern. So, with that said, any upgrades that happen before Friday 2/14/2013 11:59:59 UTC will be included in a special early group of Teraminers. These individuals will have their mining contracts started within hours of the VPS equipment being up and running. Any upgrades after that time will follow the letter of the contract as quoted below. 2.3 The Commencement Date for the initiation of data processing services contemplated hereunder shall be ten (10) business days following the receipt of specialized processing equipment from an outside vendor.
If you have a pending claim into Quentin and I know about it (you know who you are) and are verified you will be allowed to upgrade and be included within the early group of Teraminers. If you have not claimed yet, please do. Best, James Thank You! Minor edit - Thursday is the 14th, did you mean the 15th? |
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It should have been made clear we would miss payments from giga while waiting for tera. Yielding the bonds and participating per your requests have now penalized us - is that really what you wanted to do?
Here is the text from the upgrade page. The important parts from the contract are: - You are agreeing to return all rights, benefits, future payments, output and services due under the xx Gigamining Contracts.
- You are agreeing to pay x.xxxxxx BTC to VPS within 5 days to be inlcuded in the Teramining Contract.
- This payment is non-refundable.
- You'll be given payment instructions in the next step of this process.
- You will receive xxx PCUs at 9 million hashes per second each.
- VPS makes no representation of the expected output of the PCUs. This means payments will trend over and under the expected output depending on downtime, luck, etc.
The first bullet point clearly states that you are giving up all rights to Gigamining. It is also stated in the contract. That being said, I will think about what can be done. I see and understand it now, somehow I was thinking that there would not be a gap between giga and tera. So will you have giga down time during the tera set-up? If so, then it seems like it would be fair to pay right up to the point that you have to unplug giga. Then restore payments as soon as tera lights up and passes your tests. |
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So what is the benefit of upgrading right now? I understand your benefit of having people trust you and upgrade so that you can pay them less than you would have to otherwise. I assumed that you would be acting in good faith and have no lag time during the upgrade process. caveat emptor here's your email, no mentions of "please note". Obviously, I have no recourse, but I do not feel that I'm being treated fairly. Hello fellow Gigaminers, I know that it has been a long road moving past the closure of GLBSE and I want to thank you again for working through this process with me. I am also very excited to announce that the upgrade path for the new Teramining contract is live. With the release of the upgrade process, I have also extended the contract to 9 months which is a 50% increase over the originally proposed length of the contract. To upgrade, login to your account at the link below. https://virtualprocessingsolutions.com/loginFind the big orange button that says "Upgrade to Teramining!" and you'll be on your way. Please also read through the contract so that you have a complete understanding of what the upgrade entails. I am super excited for the ASIC revolution to get started and it is my hope that you will join me in this next evolution of mining. Have a great weekend, James a huge +1 |
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Missed payment yesterday. What's up?
Please note that when you upgrade to Teramining, you are returning all rights to the Gigamining contract. This includes future payments.
It should have been made clear we would miss payments from giga while waiting for tera. Yielding the bonds and participating per your requests have now penalized us - is that really what you wanted to do? |
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Just to counter all of the anger in this thread, I was able to get in touch with Quentin via email and have some questions answered. I then prepared the appropriate documents and had them scanned/emailed to Quentin for approval. A week later, I had an account with Virtual Processing Solutions and access to all accrued dividends, and of course future payouts.
I still haven't decided if I'm going to go with a paid upgrade or a free upgrade, but at the very least I have access to the assets that I originally purchased.
+1 |
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At this point in time your only choice in the matter is with or without lube.
From day one this whole scheme was to seperate people from their money and the operator ends up with the hardware.
And it is working too.
I do not know of a single person who actually made money from this fiasco. Did the earliest adopters make anything? Did anyone who bought bonds for next to nothing actually make money? Not from what i have seen. Terramining looks to be a way for users to have a slim chance to possibly break even if they dont give him extra money. I doubt it tho.
So, if one bought back in May or June and kept the BTC returns and sold them off in the Fall - one actually did pretty well... Another great scenario would have been to buy when BTC was close to $6 then sell off half your shares when BTC hit $12... I was lucky enough to do both. I'm sure others did very similarly, so to say not a single person made money is not correct. |
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To all Gigaminers:
I have received the first verified list of claimants. I will be putting all other work aside today to get these accounts setup with all of the pending payments for them to review. This also means that once payments go out on Monday, they will also be receiving a link to view the Teramining contract with instructions for how to upgrade to the ASIC offering.
On another note, Quentin has re-double checked that anyone who has requested information from him has received a response. If you have not, please email me and I'll make sure you do.
james at gigamining dot com
I would also like to thank everyone who has taken the time to submit their info and who have been waiting patiently for this day to arrive. I am super excited to start making payments and to start discussing the Teramining offering with those who will now have first crack at either the free or paid upgrade.
Best,
James
Received my account e-mail and completed set-up; thanks! Everything looks in order... |
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I was just the opposite, I got my coins back but not one single email ... even after I filled out the return form on GLBSE.
naelr
I too received my BTC w/o e-mail (not complaining). Looking forward to continuing with GigaMining in what ever form it takes... |
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Did anyone get any sort of confirmation after accessing the GLBSE form to recover their assets?
No confirmation - but received all BTC |
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Doubtful that the SEC would get involved with a UK exchange...
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