What happens after 6 months  The contract ends after 6 months. The perpetual nature of Meni's idea was only possible because of the buyback clause. Now that there is no way for a buyback clause to be executed, there is no reason for the contract to be perpetual. |
|
|
|
What happen with "I will stay with bASIC" option?
This has been added. |
|
|
|
What happen with "I will stay with bASIC" option?
I can add that, but it would seem that if the leader of the project cannot show up for one of the most important meeting of BTC FPGA's life, seems kind of pointless to keep up hope. |
|
|
|
Nope... But you would add a choice like "I will order from Avalon after new chinese year year".
Done. |
|
|
|
Where's the option to switch to Avalon?
Is Avalon taking more orders right now? |
|
|
|
Would you please James disclose that information to your investors before the claim process somehow?
Hi Audriux9, GIGAMINING TERAMINING
Total Gh/s 200Gh 5,400Gh
Mh/s per bond 5Mh/s 9Mh/s
Total bonds 40,000 600,000
I will offer a 1:4 exchange of Gigamining for Teramining that costs nothing to upgrade. An example would be if you have 400 Gigamining and don’t want to pay to upgrade, you can swap them 1:4 for Teramining. This would represent a 7.2x increase in the bonds hashing power at no additional cost. So in this case, the 400 Gigamining bonds (2Gh) would be upgraded to 1,600 Teramining bonds (14.4Gh). Paid Upgrade PathI will also offer a 1:15 exchange of Gigamining bonds for Teramining bonds. So, if you have 400 Gigamining bonds (2Gh) and pay the upgrade fee, you will receive 6,000 Teramining bonds (54Gh) in return. The fee to upgrade will be .29 BTC per Gigamining bond. So, the upgrade fee on 400 Gigamining bonds would be 116 BTC. Contract Outline- New contract is 9Mh/s.
- There is no representation made for the expected output of the contract. So if the hashing power makes more than 100%, you get more than 100%. That said, VPS has systems in place to make sure of 99% up-time including our own, fully redundant pool infrastructure.
- Contract lasts for 6 moths from the start date for each individual.
- Contract will start within one week of the equipment arriving and being setup.
- Any upgrade returns all rights of current Gigamining contract including payments
- Paid upgrades must be paid in full before the contract can begin.
- Purchase is non-refundable.
- Contract also includes an NDA so Teraminers can be free to ask questions and get answers.
You can view the entire contract here -> https://docs.google.com/document/d/15g0mjR1VQMr2866CDYI97nyyWA_UJZpX0uP8vrsDBzI/editBest, James |
|
|
|
|
Just a poll to get a sense of what bASIC customers are doing now that the first "due diligence" meeting went south.
|
|
|
|
Hi, I only have 2 share, the cost to hire attorney will be more than my share.
So what should I do??
To all Gigaminers: Please do not look at a share of gigamining and think that it is only worth what back payments are owed. Please try to look at the combined benefit of Teramining, whether with the paid or free upgrade, to help you understand the true costs of not sending in your information. As I have said before, my plans include ALL Gigaminers. Best, James |
|
|
|
Just curious... Are you going to be picking up the ASICs or are going to have them delivered?
VPS has an entire strategy in place to take delivery of the equipment and get it online has fast as humanly possible. This has been in the works for months and all of the pieces are in place and ready to go. This strategy will also be hugely beneficial to Gigaminers who upgrade to Teramining before ASIC mining starts as we all know when the most profitable moments of mining will be at the start of this crazy ride. |
|
|
|
How many BTC per bond/contract did you receive?
Hi LoweryCBS, The back payment + this Monday's payment == 0.1273 BTC Best, James |
|
|
|
Filled out the form.
Mailed in the requested information.
Logged in and set password.
Got my BTC today!
Plan to upgrade to Teramining when it is available.
To all Gigaminers: I am pleased to announce that Gigamining has started to resume payments to those individuals who have sent in their information and have been verified by Quentin. This moment has been a while in the making, but I have followed through and will continue to do so. Again, thanks to everyone who has been kind enough to work through the closure of GLBSE with me so that all of us can move forward in confidence that we will not have another interruption similar to the closing of GLBSE. I am working today to setup the upgrade process to Teramining and to make it as easy as possible to make the transaction to our ASIC based offering. With the clear timeline given from BFL yesterday, we are now less than a month away from a serious amount of hashing power arriving. February is going to be a very busy month for VPS, so if you are interested in Teramining, please do not wait to start your claims process. Best regards, James |
|
|
|
I'm actually starting to lean heavily towards finite.
fiat == infinite expansion possibilities bitcoin == the exact opposite of infinite == finite limit of 21m |
|
|
|
I sent my info along with 1 question well over a month ago & have forwarded it again a few times but have had no acknowledgement or reply from either Carlos or James. Yes, I sent an email to the lawyer and gigavps almost two moths ago, no one responded neither. Otoh's question was promptly answered once I had learned that Quentin had not responded. johnlu, please email me directly and I will reply in the morning. I will be working all day tomorrow to first, get out payments to those who have sent in their information and have been verified, then to setup the upgrade process to Teramining within the VPS web system. We are getting very close to the arrival of ASIC. Please, if you have not received a response, email me again straight away. My plans include ALL gigaminers. james at gigamining dot com Best, James |
|
|
|
Oh man, this is becoming worse and worse each day.
I wonder what ever happened to those prototypes.... |
|
|
|
I wouldn't necessarily call the first principle scarcity since they aren't exactly rare. I would find another term to describe the set amount.
Got a better word to describe the same principle? Finite http://en.wikipedia.org/wiki/Finite |
|
|
|
If I am using CGminer, can I ignore the memo on a stratum proxy?
I run 12 miners in an offsite location, using mobile broadband for my internet....suffering some connection issues and I am wondering if that has something to do with it.
Hi Yochdog, Mine on getwork only by pointing your miners to http://us.ozco.in:8332 and adding the --fix-protocol switch to cgminer. --fix-protocol tells cgminer to ignore the advertised Stratum or GBT headers. Best, James |
|
|
|
Is there a deadline on the claims process?
Not at this time. I haven't actually done anything about this yet, because I was hoping it was one big joke (the amount of things required to claim back investment).
This is not a joke. Many people have completed the process and will be paid on Monday's again going forward. Is there anyone that's helping people do this, checklist, advice etc?
The most important announcements are here -> https://bitcointalk.org/index.php?topic=127437.0 |
|
|
|
Instead of sending another email to Quentin, maybe I can get the answer here. Is it alright just to scan and email all of the required documents, or do hard copies have to be mailed?
Hi GoWest, Either is fine. Those who are more concerned with privacy have mailed in their documents. It is a personal preference and up to you. Have a good weekend, James |
|
|
|
Received my account e-mail and completed set-up; thanks! Everything looks in order...
Good to hear. We'll give everyone the weekend to review their accounts and payments will be sent on Monday. |
|
|
|
|
Show Posts
