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Author Topic: ⚡⛏️[ANN] Giga Watt: Best Home for your Mining. Starts today!  (Read 159573 times)
btcapollo
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July 06, 2017, 08:38:23 PM
 #861

Why are we restricted to only mining BTC, LTC and ETH?  Huh
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July 06, 2017, 08:49:14 PM
 #862

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
 #863

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
 #864

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. 
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July 07, 2017, 06:59:58 AM
 #865

Yes, there are crucial questions, waiting too.
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July 07, 2017, 10:15:25 AM
 #866

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

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July 07, 2017, 11:34:20 AM
 #867

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 !
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July 08, 2017, 02:33:11 AM
 #868


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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July 08, 2017, 04:22:28 AM
 #869

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
 #870

interesting concept, the mining business will be hot...
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July 08, 2017, 04:39:19 AM
 #871

Hello Giga Watt,

I am interested in your project. I have question about renting out tokens.
You said that, if I have 10 WTT tokens, I will receive about $3.68 annual rental income.
But what guarantees all of  my WTT tokens will be rented all the years.
Or it depends on many factor (the demand of mining, rental fee, how many tokens I have ...)


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July 08, 2017, 05:08:04 AM
 #872

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

The proceeds from mining goes into their account so that they can keep track of what your miner(s) has mined so that they can deduct their fees. From what I can tell by reading the info available in the WTT white paper and the web sites, Giga-Watt pays out daily. Given that you know the hash rate for your miner(s) and the network difficulty, any decent mining calculator (or your own calculator or spreadsheet for that matter) can tell you the expected output. Deduct the daily fee for your miner(s) and you should be able to calculate the deposit to your account.

Here is a decent calculator: https://bitcoinwisdom.com/litecoin/difficulty
It's not fancy and doesn't consider power costs, but it gives you an idea. Here is another one that does take into consideration the cost of power: https://bitcoinwisdom.com/litecoin/calculator
and another: http://tinyurl.com/yanebqbx -or- http://preview.tinyurl.com/yanebqbx (this shortened URL goes to whattomine.com, the preview link allows you to see the original URL I shortened)

By doing it this way Giga-Watt makes sure that they get paid and not scammed for the fees to run the miner(s). Oddly enough there are an amazing number of scammers on the internet, and some of them use crypto-currencies.

Also, somewhere in an earlier message on this thread, it was mentioned that additional coins/pools may be considered.

BTC mining @ ckpool.org | ckpool mining stats || ethOS GPU mining rig Stats || L3+ mining and WTT Tokens @ Giga-Watt
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July 08, 2017, 03:28:15 PM
 #873

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

The proceeds from mining goes into their account so that they can keep track of what your miner(s) has mined so that they can deduct their fees. From what I can tell by reading the info available in the WTT white paper and the web sites, Giga-Watt pays out daily. Given that you know the hash rate for your miner(s) and the network difficulty, any decent mining calculator (or your own calculator or spreadsheet for that matter) can tell you the expected output. Deduct the daily fee for your miner(s) and you should be able to calculate the deposit to your account.

Here is a decent calculator: https://bitcoinwisdom.com/litecoin/difficulty
It's not fancy and doesn't consider power costs, but it gives you an idea. Here is another one that does take into consideration the cost of power: https://bitcoinwisdom.com/litecoin/calculator
and another: http://[Suspicious link removed]/yanebqbx -or- http://preview.[Suspicious link removed]/yanebqbx (this shortened URL goes to whattomine.com, the preview link allows you to see the original URL I shortened)

By doing it this way Giga-Watt makes sure that they get paid and not scammed for the fees to run the miner(s). Oddly enough there are an amazing number of scammers on the internet, and some of them use crypto-currencies.

Also, somewhere in an earlier message on this thread, it was mentioned that additional coins/pools may be considered.


I imagined the reasoning would be along these lines. So rather than deducting fees as earned and playing "big brother" to all customer accounts, why not just switch to a prepay model. It's easy to know what your equipment will incur in fees for the next 30 days. For example at $0.033 kWh, it will cost $34.58 per month. This would also alleviate the limitation on pools and mining coins other than BTC, LTC and ETH. If you don't top up your account at the end of the 30 day period, your miner gets shut off and Giga Watt isn't scammed or losing any fees.
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July 08, 2017, 06:32:31 PM
 #874

Hi, need some help or advise. I purchased a little bit over 1k tokens. I know jack about mining, I'm more of an investor. As a beginner, what miners should I buy to send to Giga Watt? Any suggestions? I think I want to mine LTC.

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July 08, 2017, 06:44:37 PM
 #875

Hi, need some help or advise. I purchased a little bit over 1k tokens. I know jack about mining, I'm more of an investor. As a beginner, what miners should I buy to send to Giga Watt? Any suggestions? I think I want to mine LTC.

You need to go here  --> https://giga-watt.com/

Or send an Email here --> support@giga-watt.com

L3+ is a very good machine to mine LTC.

I did not post this message, The Russians did it !
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July 08, 2017, 06:59:30 PM
 #876

How do I rent the miners?
I have 68 tokens and I do not know how to have miners.
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July 08, 2017, 07:10:25 PM
 #877

How do I rent the miners?
I have 68 tokens and I do not know how to have miners.

You cannot rent them until they release the tokens. You just brought them so far.

For the miner visit the giga watt site. They have miners available. But still at a later date to be release.
--> https://giga-watt.com/


I did not post this message, The Russians did it !
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July 08, 2017, 09:34:25 PM
 #878

How do I rent the miners?
I have 68 tokens and I do not know how to have miners.
You cannot use 68 tokens to host ANY of the miners.
It is just not sufficient to cover the rated wattage (plus 10%) of the miners.
The minimum tokens you need is 880, to host one Antminer L3+.
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July 09, 2017, 12:09:55 AM
 #879

How do I rent the miners?
I have 68 tokens and I do not know how to have miners.

You cannot rent them until they release the tokens. You just brought them so far.

For the miner visit the giga watt site. They have miners available. But still at a later date to be release.
--> https://giga-watt.com/




Thank you very much for the information
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July 09, 2017, 12:28:01 AM
 #880

How do I rent the miners?
I have 68 tokens and I do not know how to have miners.
You cannot use 68 tokens to host ANY of the miners.
It is just not sufficient to cover the rated wattage (plus 10%) of the miners.
The minimum tokens you need is 880, to host one Antminer L3+.


Then you better sell my 68 tokens?
what would you do?
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