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Author Topic: ⚡⛏️[ANN] Giga Watt: Best Home for your Mining. Starts today!  (Read 144229 times)
TronQuix
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June 01, 2017, 02:52:50 AM
 #281

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?


I guess this is what I am trying to understand as well... So once the PandaMiner is no longer a viable option, if I am only paying for wattage, then what happens? I have to buy a new miner? Or do the tokens cover the additional miners?

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QuintLeo
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June 01, 2017, 04:31:54 PM
 #282

]Home mining rarely allows expansion - household activity are normally limited by the available volume of electricity power. Typically it'd look like 3-5 Asic miners at the most.

 More like 10 for most homes, but having suffered though the power limitations of a home for a while I'd have to say it's a definite limit to growth.



 Douglas County (where East Wenatchee is located) owns 2 major dams on the Columbia river - either one of which could easily power everything in the county 2-3 times over.

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June 01, 2017, 05:52:49 PM
 #283

]Home mining rarely allows expansion - household activity are normally limited by the available volume of electricity power. Typically it'd look like 3-5 Asic miners at the most.

 More like 10 for most homes, but having suffered though the power limitations of a home for a while I'd have to say it's a definite limit to growth.



 Douglas County (where East Wenatchee is located) owns 2 major dams on the Columbia river - either one of which could easily power everything in the county 2-3 times over.



I think we should all go to those dams, hijack their power and turn their damn into a giant farm... we could use the heat to turn the river into a hot spring and all go swimming.

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June 01, 2017, 06:34:06 PM
 #284

Hi,

For what I see the mining facilities are in high demand. If the amount of tokens is so high that can't be effectively use because the building of mining facilities can't keep pace, what is the yield of those tokes if I can't use them for mine or rent them out? Thanks.
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June 01, 2017, 08:02:45 PM
 #285

this project seems to be good . really want to support it , but no bounties for that yet...pls help @dev post some task for us

                                       
                                       
                                       
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thegeneral1985
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June 02, 2017, 12:00:58 AM
 #286

So the earliest the WTT token will be issued is August 7 2017?  What if the crowdsale finishes early?  Is August 7th still the earliest?  Or will the token be distributed earlier.
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June 02, 2017, 01:27:20 AM
 #287

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?


I guess this is what I am trying to understand as well... So once the PandaMiner is no longer a viable option, if I am only paying for wattage, then what happens? I have to buy a new miner? Or do the tokens cover the additional miners?

You can buy another miner or, rent your tokens.  By then, though, ETH may go to PoS, so miners may become obsolete or hard fork or, who knows?...good luck to you, either way!
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June 02, 2017, 04:54:49 AM
 #288

How can I withdraw BTC/ETH? No menu for it.
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June 02, 2017, 05:11:39 AM
 #289

I found articles about you. Why did you lie before?

Quote
We have never authorized and will not authorize Giga Watt as our official hosting facility or our service center in the USA. We have never supported and will not support Giga Watt’s ICO. We have never authorized and will not authorize Giga Watt to use our BITMAIN trademark in any circumstances. Mr. WU Jihan has never been and will not be a member of Giga Watt team.
https://blog.bitmain.com/en/gigawatt-infringement-announcement/

I just want to withdraw my deposit now. Please let us know how to withdraw deposited BTC/ETH.
john312
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June 02, 2017, 05:40:29 AM
 #290

If this is such a good deal, why the owners of the machines do not simply use them by themselves? Just trying to understand how it works.

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June 02, 2017, 05:43:29 AM
 #291

If this is such a good deal, why the owners of the machines do not simply use them by themselves? Just trying to understand how it works.
This is just work nothing more.

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June 02, 2017, 06:49:31 AM
 #292

If this is such a good deal, why the owners of the machines do not simply use them by themselves? Just trying to understand how it works.

GW sells the mining hardware, they don't own the hardware, they just host the hardware in their facilities and provide low maintenance and power fees due to them being near a hydro power plant.

Take the L3+ miner example. This mining hardware costs $1400 on Bitmain's site (including power supply) but that doesn't include shipping and customs taxes. GW sells it for $1550 final price. I'm from Romania and I'd have to pay more than $1800 to get the L3+ miner delivered to my place. Also, where I live the price per KWh is 3-4X higher than what GW is asking. Makes sense to mine at GW's facilities rather than at my own place.



I found articles about you. Why did you lie before?

Quote
We have never authorized and will not authorize Giga Watt as our official hosting facility or our service center in the USA. We have never supported and will not support Giga Watt’s ICO. We have never authorized and will not authorize Giga Watt to use our BITMAIN trademark in any circumstances. Mr. WU Jihan has never been and will not be a member of Giga Watt team.
https://blog.bitmain.com/en/gigawatt-infringement-announcement/

That was a legal misunderstanding back in January 2017. They fixed all legal concerns already. There's no BITMAIN logo anywhere on their site and Jihan is nowhere to be seen in their team description. Of course BITMAIN doesn't want to be represented by a company that aims at decentralizing the mining power. I think it's clear by now that BITMAIN's agenda has been to centralize the Bitcoin mining power ever since they secretely introduced the ASICboost.
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June 02, 2017, 07:31:19 AM
 #293

Liking this project but you are trying to sell 30M +15% = 34.5 M tokens for 34.5 MW but only having 2.25 MW up?
Can we atleast have an ETA on how long do you think will it take to get to full capacity?
Wouldn't want to buy tokens and then have to wait 1 year to get them
talktopab
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June 02, 2017, 07:46:17 AM
 #294

Liking this project but you are trying to sell 30M +15% = 34.5 M tokens for 34.5 MW but only having 2.25 MW up?
Can we atleast have an ETA on how long do you think will it take to get to full capacity?
Wouldn't want to buy tokens and then have to wait 1 year to get them

...and this is also related to my question "For what I see the mining facilities are in high demand. If the amount of tokens is so high that can't be effectively use because the building of mining facilities can't keep pace, what is the yield of those tokes if I can't use them for mine or rent them out? Thanks."
xcajun21
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June 02, 2017, 10:33:53 AM
 #295

So the earliest the WTT token will be issued is August 7 2017?  What if the crowdsale finishes early?  Is August 7th still the earliest?  Or will the token be distributed earlier.

It would be ASAP, I thought they stated that it would be within a month. I reckon this crowd sale would end in half hour to one day max. I seen insane ico lately and this is the mother of them all with their bank of power really available. Also the bounty seems pretty high and the overall media coverage. If will last a week I will enter this at full force before Chinese do

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Scorpion
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June 02, 2017, 11:37:06 AM
 #296


Very, very excited about this opportunity because I've already heard about Dave Carlson before and also I am a Washington State resident so maybe one day I will get to tour Giga Watt's facilities. I am definitely getting tokens day one!

P.S. if anyone wants to use my signature set up you can use the code freely and put in your own referral link.

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cryptonomos
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June 02, 2017, 12:04:34 PM
 #297

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?


I guess this is what I am trying to understand as well... So once the PandaMiner is no longer a viable option, if I am only paying for wattage, then what happens? I have to buy a new miner? Or do the tokens cover the additional miners?

Then miner becomes inefficient, it's generated income equals power consumption - at this point, if you would like to continue to mine, you would need to purchase another miner. Tokens only give you space in facility, but you are responsible for purchasing the miners.

cryptonomos
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June 02, 2017, 12:07:44 PM
 #298

Hi,

For what I see the mining facilities are in high demand. If the amount of tokens is so high that can't be effectively use because the building of mining facilities can't keep pace, what is the yield of those tokes if I can't use them for mine or rent them out? Thanks.


The amount of WTT tokens that will be issued through Token Launch will be fully used to build mining facilities, and a lot of new power will be available once the ICO is over. If you would like to ensure your tokens to be issued in the first batch, either enter through pre-sale which finished in 6 hours, or enter Token Launch as early as possible.

cryptonomos
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June 02, 2017, 12:11:39 PM
 #299

this project seems to be good . really want to support it , but no bounties for that yet...pls help @dev post some task for us

https://bitcointalk.org/index.php?topic=1930513.msg19167836#msg19167836

So the earliest the WTT token will be issued is August 7 2017?  What if the crowdsale finishes early?  Is August 7th still the earliest?  Or will the token be distributed earlier.

August 7th is the earliest.

I found articles about you. Why did you lie before?

Quote
We have never authorized and will not authorize Giga Watt as our official hosting facility or our service center in the USA. We have never supported and will not support Giga Watt’s ICO. We have never authorized and will not authorize Giga Watt to use our BITMAIN trademark in any circumstances. Mr. WU Jihan has never been and will not be a member of Giga Watt team.
https://blog.bitmain.com/en/gigawatt-infringement-announcement/

I just want to withdraw my deposit now. Please let us know how to withdraw deposited BTC/ETH.

No lies here, Dave already answered this question long time ago Smiley
http://www.nasdaq.com/article/giga-watt-ceo-we-desperately-need-balance-of-power-in-the-mining-space-cm764842

If this is such a good deal, why the owners of the machines do not simply use them by themselves? Just trying to understand how it works.

If all the facilities will be used for owners, that would lead to mining centralization, which is unhealthy for entire industry.

cryptonomos
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June 02, 2017, 12:14:19 PM
 #300

Liking this project but you are trying to sell 30M +15% = 34.5 M tokens for 34.5 MW but only having 2.25 MW up?
Can we atleast have an ETA on how long do you think will it take to get to full capacity?
Wouldn't want to buy tokens and then have to wait 1 year to get them

The project timeline can be found in White Paper:
https://cryptonomos.com/wtt/white-paper.pdf

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