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Author Topic: ⚡⛏️[ANN] Giga Watt: Best Home for your Mining. Starts today!  (Read 145964 times)
Jeantheboy
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I love argumentation.


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May 31, 2017, 03:53:55 PM
 #261

I would need a legal clarification. While going through the Terms, I read this:

"COMPANY DOES NOT REPRESENT OR WARRANT THAT THE WTT TOKENS ARE RELIABLE, CURRENT OR ERROR- FREE, MEET PURCHASER’S REQUIREMENTS, OR THAT DEFECTS IN THE WTT TOKENS WILL BE CORRECTED; AND (C) COMPANY CANNOT AND DOES NOT REPRESENT OR WARRANT THAT THE WTT TOKENS OR THE DELIVERY MECHANISM FOR WTT TOKENS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS."

I need to understand the substance of this term (11, Disclaimers). Bold is mine, and this is specifically what needs clarifying.

Another dubious point is at pag. 3 of the Terms:

"Purchaser shall not purchase WTT Tokens for any uses or purposes other than to use WTT Tokens as provided in the White Paper, including, but not limited to, any investment, speculative or other financial purposes."

Again, bold is mine.

How can this not be an investment or a financial context? Tokens will get listed and are thus subject to demand and supply.

I would need elucidations on the two points reported above.

In order to accelerate a response I may contact GigaWatt directly.

Hello,

This is a standard language used in agreements to buy product tokens. Our legal consultants have used this language in the other token sales they have worked on.

As for your conserns regarding tokens, we also engage independent auditors, who carefully check the smart contract code for security, benefits and other possible issues in connection with the attack surface.

As for the language about an investment, WTT token is a useful product rather than any kind of securities so we’re obliged to make sure that we describe it in the appropriate terms.

I would like to add a consideration on the legal terms matter. Though I may respect a company and the initiatives it has, it is crucial to create an agreement that is balanced, meaning that it should show that the company concerned takes its own fundamental responsibility in doing things at their best. "Best effort" in providing a service and assisting the users should be contemplated by the legal mindset because it manifests care towards those who commit to believing in the validity of a project. There should be commitment on both sides: the purchasers (investors, though the term "investment" is not contractually used) and the company providing the service.
That said, I am definitely interested in the WTT project.

BTC: 1AV57DJ71goYRqfTeXvE64c7UEJDLhVd8d
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Tonisim
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Forex in crypto for everyone


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May 31, 2017, 06:56:37 PM
 #262

Bounty company in social networks will be?

cryptonomos
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May 31, 2017, 07:01:37 PM
 #263

A general question, if mining is profitable, why don't you use your rigs and facilities by yourself?

That would lead to centralization, which is unhealthy for the entire mining industry

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May 31, 2017, 07:08:19 PM
 #264

Given that I didn't read the whitepaper yet, can you tell me where are your facilities located and what are the probabilities of outages?

Giga Watt facilities are located at 1 Campbell Pkwy, East Wenatchee, WA 98802. What do you mean by outages?

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May 31, 2017, 07:16:10 PM
 #265

I registered to the site and I'm not getting the phone confirmation code, it's correct mobile number tried to resend 3x already still none.
Is there problem with sending phone confirmation today?

Some mobile operators experience issues with sending confirmation code. We are working around that issue right now.

cryptonomos
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May 31, 2017, 07:17:21 PM
 #266

Bounty company in social networks will be?

No bounty for social networks, but you are welcome to join our 5% referral program! https://bitcointalk.org/index.php?topic=1914900.msg19103130#msg19103130

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May 31, 2017, 07:42:14 PM
 #267

Given that I didn't read the whitepaper yet, can you tell me where are your facilities located and what are the probabilities of outages?

Giga Watt facilities are located at 1 Campbell Pkwy, East Wenatchee, WA 98802. What do you mean by outages?

The hydro power plant near you could pull some power shorts if it requires maintenance, but I believe you have backup generators, right?
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May 31, 2017, 09:00:58 PM
 #268

To "rent" a miner with WTT, we'll have to use the full the number of coins/watt to benefit from the mining ?
Exemple: I will need at least 1,250 W/ WTT to use a PandaMiner B3 Plus ? So if I own, 1249WTT I would not be able to rent the Pandaminer or any fraction of it ?


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Educoins! Learning Is Earning


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May 31, 2017, 09:04:26 PM
 #269

Couple of questions:

1) I saw something about exchange rates being based on Kraken. On the token site they give an example of the BitPanda being $1375 or 1375 Tokens if I am understanding correctly. If I were to deposit .60 BTC right now (this is an approximate number) and the price of BTC drops 800 points again before the token launch in 2 days will my deposit price of .6b BTC = $1375 (as of writing this post), or will it be worth whatever BTC is worth at the moment the token sale goes live.

2) If we decide to use the tokens to mine, are we paid in USD or in the coin of our choice?

3) If we rent the tokens do we get paid in USD or in the coin of our choice?

Thanks in advanced

arikassuja
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Spectiv VR Crowdsale: 12/08/17


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May 31, 2017, 09:25:48 PM
 #270

Just for translate Huh
Is there nothing else?

               SpectivVR                                                           Crowdsale: 12/08 - 12/29
VR Streaming Platform & Attention Markets                    [ Website ]
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TronQuix
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May 31, 2017, 09:29:34 PM
 #271

To "rent" a miner with WTT, we'll have to use the full the number of coins/watt to benefit from the mining ?
Exemple: I will need at least 1,250 W/ WTT to use a PandaMiner B3 Plus ? So if I own, 1249WTT I would not be able to rent the Pandaminer or any fraction of it ?



Im curious about this too, i would assume we just pay out of pocket

Pacmanaue
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May 31, 2017, 10:17:42 PM
 #272

To "rent" a miner with WTT, we'll have to use the full the number of coins/watt to benefit from the mining ?
Exemple: I will need at least 1,250 W/ WTT to use a PandaMiner B3 Plus ? So if I own, 1249WTT I would not be able to rent the Pandaminer or any fraction of it ?


good question! i would like to know the same
....

Why do they all reserve translation work?
Do we get extra WTT or something for it? Cheesy
Then i would like to reserve translation for germany

cryptonomos
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May 31, 2017, 11:07:40 PM
 #273

Just for translate Huh
Is there nothing else?
hey dev
i want to join translate in my blog

https://medium.com/cryptonomos/giga-watt-bounty-program-fe0f0bd498a6

To "rent" a miner with WTT, we'll have to use the full the number of coins/watt to benefit from the mining ?
Exemple: I will need at least 1,250 W/ WTT to use a PandaMiner B3 Plus ? So if I own, 1249WTT I would not be able to rent the Pandaminer or any fraction of it ?


good question! i would like to know the same
....

Why do they all reserve translation work?
Do we get extra WTT or something for it? Cheesy
Then i would like to reserve translation for germany

German is already taken, but you could participate in 5% referral program! https://bitcointalk.org/index.php?topic=1914900.msg19103130#msg19103130


cryptonomos
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May 31, 2017, 11:09:24 PM
 #274

Given that I didn't read the whitepaper yet, can you tell me where are your facilities located and what are the probabilities of outages?

Giga Watt facilities are located at 1 Campbell Pkwy, East Wenatchee, WA 98802. What do you mean by outages?

The hydro power plant near you could pull some power shorts if it requires maintenance, but I believe you have backup generators, right?

Yep, you can see some power sources here: https://www.instagram.com/gigawatt_mining/

cryptonomos
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May 31, 2017, 11:10:46 PM
 #275

To "rent" a miner with WTT, we'll have to use the full the number of coins/watt to benefit from the mining ?
Exemple: I will need at least 1,250 W/ WTT to use a PandaMiner B3 Plus ? So if I own, 1249WTT I would not be able to rent the Pandaminer or any fraction of it ?



For PandaMiner you'd need 1250 + 10%, so 1375 WTT tokens. However, if you only have 1249, you would still be able to get discounted hosting on most part of your PandaMiner Smiley

cryptonomos
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May 31, 2017, 11:17:17 PM
 #276

Couple of questions:

1) I saw something about exchange rates being based on Kraken. On the token site they give an example of the BitPanda being $1375 or 1375 Tokens if I am understanding correctly. If I were to deposit .60 BTC right now (this is an approximate number) and the price of BTC drops 800 points again before the token launch in 2 days will my deposit price of .6b BTC = $1375 (as of writing this post), or will it be worth whatever BTC is worth at the moment the token sale goes live.

2) If we decide to use the tokens to mine, are we paid in USD or in the coin of our choice?

3) If we rent the tokens do we get paid in USD or in the coin of our choice?

Thanks in advanced

1) PandaMiner costs $1250, but you'd need 1375 WTT tokens to accomodate it at full hosting discount, that is correct. The amount of BTC in your wallet will be worth value corresponding to Kraken exchange at the moment of purchase. However, if BTC drops on day when buying tokens, you will receive fewer tokens, correct.
2) Tokens are not used to mine. They are used to either get hosting discount, or rent them out to get rental income.
3) You can get paid in BTC/ETH/LTC

TronQuix
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June 01, 2017, 12:17:17 AM
 #277

Couple of questions:

1) I saw something about exchange rates being based on Kraken. On the token site they give an example of the BitPanda being $1375 or 1375 Tokens if I am understanding correctly. If I were to deposit .60 BTC right now (this is an approximate number) and the price of BTC drops 800 points again before the token launch in 2 days will my deposit price of .6b BTC = $1375 (as of writing this post), or will it be worth whatever BTC is worth at the moment the token sale goes live.

2) If we decide to use the tokens to mine, are we paid in USD or in the coin of our choice?

3) If we rent the tokens do we get paid in USD or in the coin of our choice?

Thanks in advanced

1) PandaMiner costs $1250, but you'd need 1375 WTT tokens to accomodate it at full hosting discount, that is correct. The amount of BTC in your wallet will be worth value corresponding to Kraken exchange at the moment of purchase. However, if BTC drops on day when buying tokens, you will receive fewer tokens, correct.
2) Tokens are not used to mine. They are used to either get hosting discount, or rent them out to get rental income.
3) You can get paid in BTC/ETH/LTC

Ty, that answers my questions. Now, when you say they aren't used to mine, I think we are having a communication breakdown here so I just wanted to clarify. If I had 1375 worth of tokens, that would allow me to host a PandaMiner for 50 years correct?

TronQuix
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June 01, 2017, 01:08:46 AM
 #278

we really should have all been referring eachother

popistoc
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June 01, 2017, 01:27:42 AM
 #279

Couple of questions:

1) I saw something about exchange rates being based on Kraken. On the token site they give an example of the BitPanda being $1375 or 1375 Tokens if I am understanding correctly. If I were to deposit .60 BTC right now (this is an approximate number) and the price of BTC drops 800 points again before the token launch in 2 days will my deposit price of .6b BTC = $1375 (as of writing this post), or will it be worth whatever BTC is worth at the moment the token sale goes live.

2) If we decide to use the tokens to mine, are we paid in USD or in the coin of our choice?

3) If we rent the tokens do we get paid in USD or in the coin of our choice?

Thanks in advanced

1) PandaMiner costs $1250, but you'd need 1375 WTT tokens to accomodate it at full hosting discount, that is correct. The amount of BTC in your wallet will be worth value corresponding to Kraken exchange at the moment of purchase. However, if BTC drops on day when buying tokens, you will receive fewer tokens, correct.
2) Tokens are not used to mine. They are used to either get hosting discount, or rent them out to get rental income.
3) You can get paid in BTC/ETH/LTC

Ty, that answers my questions. Now, when you say they aren't used to mine, I think we are having a communication breakdown here so I just wanted to clarify. If I had 1375 worth of tokens, that would allow me to host a PandaMiner for 50 years correct?

TronQuix, that seems correct- but keep in mind your pandaminer will only last 2-2.5 years.
Pacmanaue
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June 01, 2017, 02:21:30 AM
 #280

Couple of questions:

1) I saw something about exchange rates being based on Kraken. On the token site they give an example of the BitPanda being $1375 or 1375 Tokens if I am understanding correctly. If I were to deposit .60 BTC right now (this is an approximate number) and the price of BTC drops 800 points again before the token launch in 2 days will my deposit price of .6b BTC = $1375 (as of writing this post), or will it be worth whatever BTC is worth at the moment the token sale goes live.

2) If we decide to use the tokens to mine, are we paid in USD or in the coin of our choice?

3) If we rent the tokens do we get paid in USD or in the coin of our choice?

Thanks in advanced

1) PandaMiner costs $1250, but you'd need 1375 WTT tokens to accomodate it at full hosting discount, that is correct. The amount of BTC in your wallet will be worth value corresponding to Kraken exchange at the moment of purchase. However, if BTC drops on day when buying tokens, you will receive fewer tokens, correct.
2) Tokens are not used to mine. They are used to either get hosting discount, or rent them out to get rental income.
3) You can get paid in BTC/ETH/LTC

Ty, that answers my questions. Now, when you say they aren't used to mine, I think we are having a communication breakdown here so I just wanted to clarify. If I had 1375 worth of tokens, that would allow me to host a PandaMiner for 50 years correct?

TronQuix, that seems correct- but keep in mind your pandaminer will only last 2-2.5 years.

and then its broken an you have to buy a new one?

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