⚡⛏️[ANN] Giga Watt: Best Home for your Mining. Starts today!

[xcajun21]

I read the article on coindesk about Carlson, afaik it put him in a humble position, where he was working for the bitcoin community long time ago.

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[Giga-Watt Support]

!IMPORTANT!!!!

Please tell me, I'm going to be mad.....BUT...I am the only one who think that Dave Carlson (CEO of Giga Watt) is the same person of Giacomo Bugini (CEO of Bitminer.io)...

( For who don't know bitminer.io -> scam site...or better...PONZI scheme site, fake mining. )

Really? Am I the only one who see the similitude in the photos??? Please tell me , no one looks at team members??

Please explain me....or better ...sir Dave Carlson can you upload your ID?? Could you please explain why are you so similar to giacomo bugini??

Please tell me that I am blind and I can't reconize a female from a male...please...I would like to invest in giga watt.....

THANK YOU SO MUCH!!!!

Dave Carlson is CEO of MegaBigPower and Giga-watt.. He does not have any affiliation with bitminer.io. Although, that is a picture of Dave Carlson, he is not affiliated with them.

[Giga-Watt Support]

mmm I don't think that giacomo bugini takes photo from giga watt...bitminer.io is older than giga watt project...and also...different photos...
That's why I don't understand....

That picture was taken from his previous mining company, MegaBigPower. He's transitioned into Giga-watt in November.

[someone111]

Dave, Cryptonomos Hello,

I am interested in buying tens to hundreds of thousands of WTT. At first I was quite excited with your idea but after careful examination I'm not so sure and I have some serious questions about your business model.

1. If space requirement for mining equipment doubles per 1W of power due to Moore's law in semiconductor manufacturing advances. Power consumption of chips drops down significantly with each generation. I have the following question.
For Example:
Currently some Mining GPU setup is taking 60x60x60 cm of space and consumes 1Kw/h of electricity.
In two years if equipment is upgraded to latest models that will require TWO GPU setups of 60x60x60 cm for the same 1Kw/h of electricity.

To meet your obligations to WTT token holders, Will Giga-Watt build new Giga-pods on a constant basis and allocate the additional space required for equipment upgrades on demand every couple of years for 50 years ?!?

2. Will Giga-Watt provide some storage to customers for spare parts for mining equipment that will wear out?
3. What about Network bandwidth? How much is provided with each 1W of power? Is there an option to buy more bandwidth?
4. What are the moisute levels in the area of the Giga-Watt pods? What is the effect on equipment from your experience? Is there rust after 1-2 years of operation?
5. You say you can meet customers custom demands. Why are you not providing your co-location customers the ability for remote access to their equipment hosted at your facilities?

Are your customers able to manage their hosted mining hardware themselves and have full control of it?

The equipment is managed by professionals with years of experience in mining.
They understand what is profitable to mine now, which pool is more profitable, etc.
They can quickly repair equipment.
We are in the same boat, the more profitable for you, the more profitable for Giga Watt.

So your technicians will decide what is profitable to mine on behalf of your customers and on their equipment? What is this??
You say repeatedly throughout the thread that customers can choose what coins they mine. Then you say exactly the opposite.

6. On the below comment you state there are not set up fees. But later in this thread you stated there is one time setup fee of $20 for aciscs and $40 for GPU rigs. Are there any other Hidden fees?

Otherwise i see no real difference to cloud mining.

First and foremost it is our transparency. Giga Watt's facility is a real-life tangible project which you can tour if you attend our Open House, which we hold twice a month. Giga Watt's customers own the specific equipment: They know their serial numbers and can see them on the shelves in the unit. Another advantage is that Giga Watt's customers purchase their equipment at cost, without any markup, pay zero setup fees and extremely low effective electricity and maintenance fees: just 2.8c и 0.5c per kW/h respectively.

7. Who are "retail customers"? Customers who buy full turnkey mining or WTT token holders?
From https://cryptonomos.com/wtt/faq
"Does Giga Watt only mine bitcoins?
Giga Watt mines all scalable cryptocurrencies: BTC, LTC, ETH/MONERO/ZCASH/DASH. The decision of what currency to mine is made by the customers who own the mining equipment. But at this stage it is technically impossible to offer all of these options to retail customers. Giga Watt is working on the solution, and hopefully in the future this option will be offered. At this point retail customers can mine only BTC, ETH, and LTC."

8. If you don't provide your customers with remote access to their equipment. How can your customers be sure you are not overclocking their equipment for  for 10-15% to your advantage (especially GPU setups) in expense of the lifetime of the equipment?
9. Cryptonomos. Who are you? What is your name? Would be nice to know who are we talking to. Are you a Cryptonomos or Giga-Watt employee? I you rather prefer to remain anonymous. Please ask Dave Carlson to answer these questions from his account here on BitcoinTalk.
10. What exactly is included in $0.5 cents maintenance fee? Which kind of work/procedures?
11. If I decide to power off my miners for a period of time. Will there be any charges? Since I paid for the rent for 50 year ahead can I store my miners there even if they are offline as how much as I need?

Unless you can provide satisfying answers to the above questions, Especially question 1 and 5. I will unfortunately have to pass on your business proposal.

The ability for me to fully control my hosted hardware via remote access is a "To be or not to be" type of issue.

Best Regards.

Due to the specifics of your questions, please refer these questions to Support@giga-watt.com.

NO! I have the same questions and many others likely too, so save your time and post your replies here!!!

Yes, I see no reason to not answer these questions here. Also interesting for me.

[chip1982]

Question about the tokens:

On Sun, Jul 2, 2017 at 3:00 PM, <XXXXXXXXX> wrote:

    Hi GW,

    congratulations to your sale of 12,5 millions tokens so far. Definitely you will complete the 30 mio sale.

    Question to the tokens:

    When does the 50 year usage time period start?

    When the tokens are distributed on 07. August? Which basically means that all tokens have the exact same starting and ending point in their life cycle.

    Or when the tokens are actually beeing used? Which would mean that every token has a different starting and ending point in his life cycle and each token must account this.

    Thanks and best regards,
    XXXXXX

Reply:

Hello XXXXX,

The 50 years refers to the lifetime of the Giga Watt facility, part of which has already been built and hosts miners. This time period has begun and is several months in to year 1. When tokens are distributed August 7th in the order in which they were purchased, the tokens are good for as long as the Giga Watt facility is standing; i.e. tokens do not have different lifecycles.

Regards,

Customer Support
Giga Watt Inc.

[sic57005]

Can somebody explain this: they sell 12.5M tokens, but now actually have only 2.25M power (including 1.25 already utilized).
So if "1 token = 1 Watt" then amounts not converge. The rest 10.25M tokens can not be used?

[chip1982]

Can somebody explain this: they sell 12.5M tokens, but now actually have only 2.25M power (including 1.25 already utilized).
So if "1 token = 1 Watt" then amounts not converge. The rest 10.25M tokens can not be used?

They distribute the tokens in line with the build up capacity. Token holders will always be able to mine.

1 token =  a rental fee reduction to zero for one Watt mining equipment power consumption.

[Mrbates]

Can somebody explain this: they sell 12.5M tokens, but now actually have only 2.25M power (including 1.25 already utilized).
So if "1 token = 1 Watt" then amounts not converge. The rest 10.25M tokens can not be used?

They're in the process of building more giga pods, so currently they aren't usable (which is why they're sold in batches, and when you purchase it says what batch you're in for an approximate usage time)

Hope to see this on trex

[Baffelchen]

First of all, I am very interested in the project, but I ask myself a few questions..

If I understand it correctly I need token to get a place in the facilities. At the same time, I get access to discounted electricity prices.
In addition, I have to buy my own mining hardware to be able to operate it there.
Is this correct?

I'm thinking now ... Mining hardware ages very quickly, and is in a year already not as efficient as today.

1) Am I now responsible for keeping the hardware up to date and to replace it regularly?
2) What happens with my outdated hardware when this is exchanged?
3) When can we buy the Hardware on https://giga-watt.com/ again?

Thanks in advance!

[Mrbates]

First of all, I am very interested in the project, but I ask myself a few questions..

If I understand it correctly I need token to get a place in the facilities. At the same time, I get access to discounted electricity prices.
In addition, I have to buy my own mining hardware to be able to operate it there.
Is this correct?

I'm thinking now ... Mining hardware ages very quickly, and is in a year already not as efficient as today.

1) Am I now responsible for keeping the hardware up to date and to replace it regularly?
2) What happens with my outdated hardware when this is exchanged?
3) When can we buy the Hardware on https://giga-watt.com/ again?

Thanks in advance!

1) You're responsible if you want peak performance but a miner stays profitable for a good amount of time, so you could continue mining as long as you can pay the 69 cent fee per day.
2) Someone was going to email customer support and ask if they get shipped to you, they never posted a reply though.
3) When it next comes available, it sells out very quickly though.  It currently may be more effective to buy elsewhere and ship to them timewise.

[Zephon]

First of all, I am very interested in the project, but I ask myself a few questions..

If I understand it correctly I need token to get a place in the facilities. At the same time, I get access to discounted electricity prices.
In addition, I have to buy my own mining hardware to be able to operate it there.
Is this correct?

I'm thinking now ... Mining hardware ages very quickly, and is in a year already not as efficient as today.

1) Am I now responsible for keeping the hardware up to date and to replace it regularly?
2) What happens with my outdated hardware when this is exchanged?
3) When can we buy the Hardware on https://giga-watt.com/ again?

Thanks in advance!

1) You're responsible if you want peak performance but a miner stays profitable for a good amount of time, so you could continue mining as long as you can pay the 69 cent fee per day.
2) Someone was going to email customer support and ask if they get shipped to you, they never posted a reply though.
3) When it next comes available, it sells out very quickly though.  It currently may be more effective to buy elsewhere and ship to them timewise.

In case any one is wondering..
I asked about sending my miner 2 weeks ago after buying WTT, response below:

==========
Hi xxxxx,
Thanks for the message.
We can sell you the S9 today if you are able to pay BTC.
These are scheduled to ship from the manufacturer mid-August.
Please let us know if you'd like to buy and we will send the BTC invoice.

For existing miners, we are maxed out on power for taking hosting at this time so the discussion is only for future power batches, likely in September (batch 3).
==========

So you probably want to confirm first before deciding if you're buying from them or buying and shipping there.
They're currently out of miners to sell at the moment though..

[kiwi1337]

Like other people in this thread, I'm somewhat confused about what happens when not all the tokens are sold.

Here https://bitcointalk.org/index.php?topic=1914900.msg19061396#msg19061396 is stated:
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

And here https://bitcointalk.org/index.php?topic=1914900.msg19413188#msg19413188
"There is no minimum amount: the first facilities have already been completed and the new units are currently being built with Giga Watt's own funds. This is why we can issue tokens for as low capacity as we need."

And here https://bitcointalk.org/index.php?topic=1914900.msg19442871#msg19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

So, especially the second quote suggests that the funds are already there to build the new facilities, and they will be built, regardless of how many tokens will be sold. So if ICO ends with 15 million sold tokens, quote 2 suggests the remainder of Batch 4 (but also maybe 5 and 6) will be built anyway. With or without tokens.

But, the whitepaper states: "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens. Consequently, the clients who do not own tokens will have to rent them from their owners."

So.. Batch 4 will be built with already present funds, but (when 15M tokens are raised) GW will only rent 15 - 5.4(B1) - 0.9(B2) - 4.5(B3) = 4.2 MW ? Leaving 10.8MW unused ? Or will GW generate / sell the remaining 10.8M tokens on the marketplace themselves ? When, and at what price ?

[DonApp]

First of all, I am very interested in the project, but I ask myself a few questions..

If I understand it correctly I need token to get a place in the facilities. At the same time, I get access to discounted electricity prices.
In addition, I have to buy my own mining hardware to be able to operate it there.
Is this correct?

I'm thinking now ... Mining hardware ages very quickly, and is in a year already not as efficient as today.

1) Am I now responsible for keeping the hardware up to date and to replace it regularly?
2) What happens with my outdated hardware when this is exchanged?
3) When can we buy the Hardware on https://giga-watt.com/ again?

Thanks in advance!

1) You're responsible if you want peak performance but a miner stays profitable for a good amount of time, so you could continue mining as long as you can pay the 69 cent fee per day.
2) Someone was going to email customer support and ask if they get shipped to you, they never posted a reply though.
3) When it next comes available, it sells out very quickly though.  It currently may be more effective to buy elsewhere and ship to them timewise.

In case any one is wondering..
I asked about sending my miner 2 weeks ago after buying WTT, response below:

==========
Hi xxxxx,
Thanks for the message.
We can sell you the S9 today if you are able to pay BTC.
These are scheduled to ship from the manufacturer mid-August.
Please let us know if you'd like to buy and we will send the BTC invoice.

For existing miners, we are maxed out on power for taking hosting at this time so the discussion is only for future power batches, likely in September (batch 3).
==========

So you probably want to confirm first before deciding if you're buying from them or buying and shipping there.
They're currently out of miners to sell at the moment though..

Well, the L3+ miners are available again at bitmain. I was wondering why gigawatt didnt put new L3+ miners in stock. In between the lines it seems that the amount of space/power is the limiting factor now?

Question for giga-watt: i have participated in the presale. This should garantee a spot for my equipment right? Could you comment on this?
And can i order miners at bitmain and send them to you directly?

[Mrbates]

Like other people in this thread, I'm somewhat confused about what happens when not all the tokens are sold.

Here https://bitcointalk.org/index.php?topic=1914900.msg19061396#msg19061396 is stated:
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

And here https://bitcointalk.org/index.php?topic=1914900.msg19413188#msg19413188
"There is no minimum amount: the first facilities have already been completed and the new units are currently being built with Giga Watt's own funds. This is why we can issue tokens for as low capacity as we need."

And here https://bitcointalk.org/index.php?topic=1914900.msg19442871#msg19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

So, especially the second quote suggests that the funds are already there to build the new facilities, and they will be built, regardless of how many tokens will be sold. So if ICO ends with 15 million sold tokens, quote 2 suggests the remainder of Batch 4 (but also maybe 5 and 6) will be built anyway. With or without tokens.

But, the whitepaper states: "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens. Consequently, the clients who do not own tokens will have to rent them from their owners."

So.. Batch 4 will be built with already present funds, but (when 15M tokens are raised) GW will only rent 15 - 5.4(B1) - 0.9(B2) - 4.5(B3) = 4.2 MW ? Leaving 10.8MW unused ? Or will GW generate / sell the remaining 10.8M tokens on the marketplace themselves ? When, and at what price ?

I think with the second statement it references the fact that a few gigapods are already created, so regardless of whether or not 30m tokens are sold the ico will be a success.
I've personally always taken the no unsold tokens statement as all remaining tokens are effectively burnt.  However it does need better clarification because it does create a "?".
Also presumably they would continue expanding as the company generates revenue regardless of the ICO revenue because well, it is a business.

[raynman]

I have secured two Antminer L3+ from GigaWatt, scheduled for deployment in mid-October. 

[kiwi1337]

Like other people in this thread, I'm somewhat confused about what happens when not all the tokens are sold.

Here https://bitcointalk.org/index.php?topic=1914900.msg19061396#msg19061396 is stated:
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

And here https://bitcointalk.org/index.php?topic=1914900.msg19413188#msg19413188
"There is no minimum amount: the first facilities have already been completed and the new units are currently being built with Giga Watt's own funds. This is why we can issue tokens for as low capacity as we need."

And here https://bitcointalk.org/index.php?topic=1914900.msg19442871#msg19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

So, especially the second quote suggests that the funds are already there to build the new facilities, and they will be built, regardless of how many tokens will be sold. So if ICO ends with 15 million sold tokens, quote 2 suggests the remainder of Batch 4 (but also maybe 5 and 6) will be built anyway. With or without tokens.

But, the whitepaper states: "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens. Consequently, the clients who do not own tokens will have to rent them from their owners."

So.. Batch 4 will be built with already present funds, but (when 15M tokens are raised) GW will only rent 15 - 5.4(B1) - 0.9(B2) - 4.5(B3) = 4.2 MW ? Leaving 10.8MW unused ? Or will GW generate / sell the remaining 10.8M tokens on the marketplace themselves ? When, and at what price ?

I think with the second statement it references the fact that a few gigapods are already created, so regardless of whether or not 30m tokens are sold the ico will be a success.
I've personally always taken the no unsold tokens statement as all remaining tokens are effectively burnt.  However it does need better clarification because it does create a "?".
Also presumably they would continue expanding as the company generates revenue regardless of the ICO revenue because well, it is a business.

So, today both support and in telegram chat, it was confirmed that, if not all tokens are sold in ICO, the remainder of tokens (+15%) will be sold on another platform at $1.20. This is because:
- The facilities are already being built. This process is not going to stop.
- If not all tokens are sold, this creates a 'gap' between the available Watts (34.5 MW) and the amount of sold tokens. Since the whitepaper states "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens.", this gap cannot exist. It will be filled by selling the remainer of tokens on another platform .

EDIT: Vlad @Telegram is going to doublecheck with team and get back to me..


This also means the following information is incorrect, or at least unclear and incomplete:
- https://bitcointalk.org/index.php?topic=1914900.msg19061396#msg19061396
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

- https://bitcointalk.org/index.php?topic=1914900.msg19442871#msg19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

- https://bitcointalk.org/index.php?topic=1914900.msg19015886#msg19015886
"Tokens are issued after sales - not purchased will not be released."

[Mrbates]

Like other people in this thread, I'm somewhat confused about what happens when not all the tokens are sold.

Here https://bitcointalk.org/index.php?topic=1914900.msg19061396#msg19061396 is stated:
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

And here https://bitcointalk.org/index.php?topic=1914900.msg19413188#msg19413188
"There is no minimum amount: the first facilities have already been completed and the new units are currently being built with Giga Watt's own funds. This is why we can issue tokens for as low capacity as we need."

And here https://bitcointalk.org/index.php?topic=1914900.msg19442871#msg19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

So, especially the second quote suggests that the funds are already there to build the new facilities, and they will be built, regardless of how many tokens will be sold. So if ICO ends with 15 million sold tokens, quote 2 suggests the remainder of Batch 4 (but also maybe 5 and 6) will be built anyway. With or without tokens.

But, the whitepaper states: "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens. Consequently, the clients who do not own tokens will have to rent them from their owners."

So.. Batch 4 will be built with already present funds, but (when 15M tokens are raised) GW will only rent 15 - 5.4(B1) - 0.9(B2) - 4.5(B3) = 4.2 MW ? Leaving 10.8MW unused ? Or will GW generate / sell the remaining 10.8M tokens on the marketplace themselves ? When, and at what price ?

I think with the second statement it references the fact that a few gigapods are already created, so regardless of whether or not 30m tokens are sold the ico will be a success.
I've personally always taken the no unsold tokens statement as all remaining tokens are effectively burnt.  However it does need better clarification because it does create a "?".
Also presumably they would continue expanding as the company generates revenue regardless of the ICO revenue because well, it is a business.

So, today both support and in telegram chat, it was confirmed that, if not all tokens are sold in ICO, the remainder of tokens (+15%) will be sold on another platform at $1.20. This is because:
- The facilities are already being built. This process is not going to stop.
- If not all tokens are sold, this creates a 'gap' between the available Watts (34.5 MW) and the amount of sold tokens. Since the whitepaper states "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens.", this gap cannot exist. It will be filled by selling the remainer of tokens on another platform .

EDIT: Vlad @Telegram is going to doublecheck with team and get back to me..


This also means the following information is incorrect, or at least unclear and incomplete:
- https://bitcointalk.org/index.php?topic=1914900.msg19061396#msg19061396
"If it happens that there will be only $5,000,000 raised, then there will be 5,750,000 tokens released - extra 15% are for the team and partners."

- https://bitcointalk.org/index.php?topic=1914900.msg19442871#msg19442871
"There will not be any unsold tokens. We will issue as many as it was raised +15% on top."

- https://bitcointalk.org/index.php?topic=1914900.msg19015886#msg19015886
"Tokens are issued after sales - not purchased will not be released."

Unfortunate.  Makes me kind of want my btc back.

I'm a trader not a miner and having the tokens setting a slight ceiling is kind of mediocre to me.

Slightly false advertising.

[Dopert]

Hello, maybe it was written and mist it (i could not find the answer anyhow).

I am not a rocket scientist in the blockchain tech, but I noticed that miners have a big deal is voting power for new software updates in a blockchain from a coin.

Like the discussion of BTC hardfork (example https://1august.org)

I think miners have voting power because they choose the miningpools and they manage / install there support of software update. This is there (miners) part beside the wallet providers, exchanges and users hardwallet/paperwallet.

If this is correct, then can GigaWatt give there vision how they manage the voting part by a software update to prevent a hardfork or support it?


Txs  

-------------------------------------

I did found the awnser on my question https://www.youtube.com/watch?v=pElHuqBc_6Q (movie by 31 minutes)

[killerjoegreece]

The Greek announcement thread has been updated here

https://bitcoingarden.org/forum/index.php?topic=15337.msg170194#msg170194


and here

https://bitcointalk.org/index.php?topic=1954941.msg19968869#msg19968869

[cryptovn83]

I'm in with Giga Watt. Waiting for the miner in middle of Sept