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Author Topic: ⚡⛏️[ANN] Giga Watt: Best Home for your Mining. Starts today!  (Read 145267 times)
Mr Frog
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July 06, 2017, 07:40:29 PM
 #861

Ok in that case where is the incentive to to purchase mining equipment from them? Why not just rent out your tokens?

Also what if they are not able to get enough people to buy mining equipment?

To buy Miner it's here:
https://giga-watt.com/

Tokens here:
https://cryptonomos.com/wtt/

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July 06, 2017, 07:47:17 PM
 #862

Ok in that case where is the incentive to to purchase mining equipment from them? Why not just rent out your tokens?

Also what if they are not able to get enough people to buy mining equipment?
I think it is the opposite.

Every miner buy the tokens. And there is more demand for the mining + tokens than for the tokens only.
So it is certainly why they need all miners to get also the tokens. To keep the balance between token holders and mining equipments.

I guess...

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July 06, 2017, 07:49:35 PM
 #863

Ok in that case where is the incentive to to purchase mining equipment from them? Why not just rent out your tokens?

Also what if they are not able to get enough people to buy mining equipment?
I think it is the opposite.

Every miner buy the tokens. And there is more demand for the mining + tokens than for the tokens only.
So it is certainly why they need all miners to get also the tokens. To keep the balance between token holders and mining equipments.

I guess...

Sorry I meant not enough mining equipments for miners. Or backordered scenarios etc. E.G the Pandaminer is already out of stock.

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July 06, 2017, 07:55:09 PM
 #864

Ok in that case where is the incentive to to purchase mining equipment from them? Why not just rent out your tokens?

Also what if they are not able to get enough people to buy mining equipment?
I think it is the opposite.

Every miner buy the tokens. And there is more demand for the mining + tokens than for the tokens only.
So it is certainly why they need all miners to get also the tokens. To keep the balance between token holders and mining equipments.

I guess...

Sorry I meant not enough mining equipments for miners. Or backordered scenarios etc. E.G the Pandaminer is already out of stock.

They have to rely on other companies for the equipments since they are not fabricant. Unfortunately (or the opposite for the industry) there is high demand for mining equipment. That's a fact.

Anyway. I still think there is no point for them to ask people who buy equipments to also buy the tokens to go with it if there is a lot of tokens holders without the equipment. It  wouldn't make sense.

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July 06, 2017, 07:58:16 PM
 #865

So does a miner need to buy his equipment and equivalent of tokens to power his miner ?

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July 06, 2017, 08:01:15 PM
 #866

I must say I'm very impressed. These tokens are cool I think k I will buy to rent them out. What can we mine if we own tokens ? Any coin ? So our coins are like shares in this mining operation ? That's awesome !!

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July 06, 2017, 08:01:37 PM
 #867

So does a miner need to buy his equipment and equivalent of tokens to power his miner ?

First you only had to buy one token to have the right to host you equipment.

But I think for now you need the tokens to go with the miner.

Cf. New statement from GW
Giga Watt Project: change of sales policy

Dear current and prospective miners,

We are writing to you to announce an important change. Due to overwhelming demand for our equipment hosting services Giga Watt is discontinuing, for an indefinite period of time, the option of buying and hosting mining equipment for clients who do not own WTT tokens.

From now on, the orders to buy and host mining equipment are accepted only from the clients who, at the time of their equipment or hosting service order, already own WTT tokens, and the number of their WTT tokens is ample to cover the energy consumption of all the equipment or hosting service they are ordering.

Our preliminary estimates indicate that the number of orders already placed is sufficient to secure WTT token renters for current WTT token holders who are not interested in engaging in mining in the near future. Cryptonomos team is currently preparing a token holder survey to conduct a more thorough evaluation. As soon as we see demand for more token renters, we will renew sales of equipment and hosting services to clients who do not own WTT tokens.

We offer for sale the following equipment models, based on availability:

L3+: LTC payment only
S9: payment in BTC, LTC, and USD
S9: payment in BTC, LTC, and USD
Panda Miner B3 Plus: USD payment only

The availability is regularly updated on the website at https://giga-watt.com/ and in our Telegram channel at https://t.me/cryptonomos

If you intend to purchase your equipment with cryptocurrencies, please secure your payment funds in advance. If you are paying with USD, please note that wire transfers take time, equipment sells out fast, and it may not be available by the time your USD payment is received. We also recommend that if you have not yet done so, you purchase WTT tokens in advance as the token purchase process takes time too and it has to be finalized before you can buy your mining equipment. WTT tokens can be bought at https://cryptonomos.com/wtt. Detailed instructions on how to buy tokens:
https://medium.com/cryptonomos/navigating-the-cryptonomos-website-to-create-an-account-and-purchase-giga-watt-wtt-tokens-113d875d26c2

Sincerely,
Giga Watt project team

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July 06, 2017, 08:09:08 PM
 #868

Yep that's what is a bit concerning meaning. Now it would cost me about $3623 (51 LTC + 880Watt X $1.10) to buy a L3+ miner plus the tokens to host it not to mention I'll be paying additional hosting costs (albiet subsidized). Unless I am completely mistaken. Sorry not the sharpest tool in the shed.

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July 06, 2017, 08:19:20 PM
 #869

Yep that's what is a bit concerning meaning. Now it would cost me about $3623 (51 LTC + 880Watt X $1.10) to buy a L3+ miner plus the tokens to host it not to mention I'll be paying additional hosting costs (albiet subsidized). Unless I am completely mistaken. Sorry not the sharpest tool in the shed.

Understand that You own the tokens for 50 years meaning you can sell them at some point as well.
And the mining equipment is yours and will be return to you after his life or you also can sell it through Giga watt.

Sorry I don't see better than that on the market today other than living somewhere with electricity as low as 2,8 cents and put your sleeves up because you need to do some work and along pay some bills...  Grin

If they is something better I'd like to know where ? Do you have anything better ? With that exposure and transparency in USA ? Or other safe country ?

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July 06, 2017, 08:37:50 PM
 #870

Dave Carlson at Consensus 2017. Mining for Dummies.
Published on Jul 5, 2017

https://www.youtube.com/watch?v=pElHuqBc_6Q


Intro to Giga Pod (Giga Watt)

https://www.youtube.com/watch?v=CfrjhflKGzQ

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July 06, 2017, 08:38:23 PM
 #871

Why are we restricted to only mining BTC, LTC and ETH?  Huh
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July 06, 2017, 08:49:14 PM
 #872

I would have to respectfully bow out of this. Too many variables for my liking.

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July 06, 2017, 10:44:19 PM
 #873

Yep that's what is a bit concerning meaning. Now it would cost me about $3623 (51 LTC + 880Watt X $1.10) to buy a L3+ miner plus the tokens to host it not to mention I'll be paying additional hosting costs (albiet subsidized). Unless I am completely mistaken. Sorry not the sharpest tool in the shed.
Hosting costs are waived if you have the tokens.  You would only pay the electricity cost.  The LTC miner cost did go up quite a bit though.

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July 07, 2017, 06:32:19 AM
 #874

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 2.8с и 0.5с 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.

I am also interested in these answers. 
martipan
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July 07, 2017, 06:59:58 AM
 #875

Yes, there are crucial questions, waiting too.
Dxdiax26
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July 07, 2017, 10:15:25 AM
 #876

A very brilliant idea. For those who like mining but do not want ribet can be tried .

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Mr Frog
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July 07, 2017, 11:34:20 AM
 #877

Yep that's what is a bit concerning meaning. Now it would cost me about $3623 (51 LTC + 880Watt X $1.10) to buy a L3+ miner plus the tokens to host it not to mention I'll be paying additional hosting costs (albiet subsidized). Unless I am completely mistaken. Sorry not the sharpest tool in the shed.

Understand that You own the tokens for 50 years meaning you can sell them at some point as well.
And the mining equipment is yours and will be return to you after his life or you also can sell it through Giga watt.

Sorry I don't see better than that on the market today other than living somewhere with electricity as low as 2,8 cents and put your sleeves up because you need to do some work and along pay some bills...  Grin

If they is something better I'd like to know where ? Do you have anything better ? With that exposure and transparency in USA ? Or other safe country ?

BUMP

So anybody saying that this is not a good Project.

I am asking again. Anything better to propose for hosting mining solution ? Coz after looking at it I cannot see anybody offering a better deal.

I did not post this message, The Russians did it !
inspiredinvestor
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July 08, 2017, 02:33:11 AM
 #878


So anybody saying that this is not a good Project.

I am asking again. Anything better to propose for hosting mining solution ? Coz after looking at it I cannot see anybody offering a better deal.
I agree Mr. Frog looks like a really good deal. Having read the white paper and the existing set up and business that's there. I live in Australia and Electricity costs are crazy expensive.

I do have questions for Giga Watt about the tokens and rental arrangement

1. Is Giga Watt responsible for finding people to rent the Tokens/Watts we have purchased?

2. Will the Token Watts will be bundled together with other peoples to be rented out?

congrats of a good ICO.

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btcapollo
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July 08, 2017, 04:22:28 AM
 #879

I asked this question in the Telegram channel but didn't get a satisfactory response. Perhaps someone here can answer my questions.

I was told that miners are only allowed to mine BTC, ETH and LTC with Slush Pool and Litecoin Pool. Furthermore, miners are aggregated into Giga Watt's account at each of these pools, i.e. miners don't have individual accounts at these pools. (Please correct me if I'm wrong.) This obviously needs some serious auditing. How do miners know they are receiving what they should be receiving? Why aren't miners allowed to have own separate accounts with these mining pools?  Huh
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July 08, 2017, 04:26:26 AM
 #880

interesting concept, the mining business will be hot...
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