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

[stelam]

Hello guys,

I am very new to mining, hence I will ask following questions. They will probably sound noobish. But hey, why not ask greatest community in the world for support.

I have several options to consider and I don't know which one to choose. Recently I started to consider if I should join giga-watt WTT token crowd sale and invest some money in mining. Wtt website appeared conveincing to me and whole return on investment structure seemed to be straight forward(if you see any underwater difficulties let me know). So here are following options:

   1.   Buying 880 watt tokens to host miner(880$)  gives you an access to mine at 0.033$ kWh+ ASIC L3+ miner(1550$) from giga watt. Total investment of 2430$. With return of 10,577.89$ a year roughly. As what they advertise.
   2.   Buying 1500 watt tokens to host miner(1500$) gives you an access to mine at 0.033$ kWh + ASIC S9 miner(1600$) from giga watt. Total investment of 3100$. With potential return of 4,628.51$. As what they advertise.

I am not 100% sure but I think giga-watt themselves are quite limited in choices of what they can mine i think currently they support mining of BTC, XMR, LTC and ETH. But they don't have Panda miners in stock to mine ETH.

So my main concern is that I can't exactly figure out which one of those methods will be more efficient and what are the risks involved. And of course which method would you choose.  Roll Eyes
In this particular moment of time returns are fucking amazing, below are current retes:

Time Frame         LTC Coins                      BTC (LTC/BTC at 0.01076000)                USD (BTC at $2,920.02)                   Power Cost (in USD)          Pool Fees (in USD)            Profit (in USD)
Hourly                0.05310134                                     0.00057137                                     $1.67                                               $0.02                             $0.02                       $1.64
Daily                  1.27443215                                     0.01371289                                     $40.04                                             $0.58                             $0.40                        $39.47
Weekly              8.92102505                                        0.09599023                                   $280.29                                           $4.03                             $2.80                       $276.26
Monthly               38.23296452                                   0.41138670                                    $1,201.26                                        $17.28                           $12.01                      $1,183.98
Annually            465.16773496                                    5.00520483                                    $14,615.30                                      $210.24                         $146.1                      $14,405.06


In best possible scenario I can break even in: 62.20 Day(s)
Thats of course is magical number, rest of miner lifetime would be profitabe and I would be able to buy more hardware on the go.. and may be invest in more miners and more tokens to host those in giga-watt. So effectively, if everything comes down quite closely to projection, this is an opportunity to build my own little mining income farm in existing giga-watt facilities.. Unless I am counting something wrong in here.

I am seriously considering mining LTC with Antminer L3+ at giga-watt facilities, but lets say I'd be able to start no earlier then October if everything comes down in best possible scenario. Even if we double in difficulty and price of bitcoin goes down to 1k price of LTC would drop accordingly to 0.005btc. I am still going to be able to break even in: 922.79 Day(s)

And thats if we look at worst scenario here. Will this happen? I dont know but risk is worth it i think. Again if lifetime of this miner will last for 2.5 years(some say its around 18 months) as advertised I can consider myself lucky if it holds for 2.5 years.. But if we hit best scenario, with price of litecoin higher then 5$, then I can break even on my investment..

So lets look at potential returns in worst scenario to break even in 922 days on investment of 2430$:

Time Frame           LTC Coins                  BTC (LTC/BTC at 0.00500000)         USD (BTC at $1,000.00)         Power Cost (in USD)       Pool Fees (in USD)            Profit (in USD)
Hourly                  0.02619345                                       0.00013097                                  $0.13                                        $0.02                            $0.00                        $0.11
Daily                     0.62864274                                      0.00314321                                  $3.14                                        $0.58                            $0.03                        $2.54
Weekly                  4.40049917                                      0.02200250                                  $22.00                                      $4.03                            $0.22                        $17.75
Monthly                18.85928214                                     0.09429641                                  $94.30                                      $17.28                          $0.94                        $76.07
Annually               229.45459932                                   1.14727300                                  $1,147.27                                  $210.24                        $11.47                      $925.56

So my risks here are:
1. Difficulty
2. Price
3. Lifetime of miner
4. Government policy.

All of these 4 have very high odds and I cant take current price and difficulty as a solid return plan for what I will get back, current figures are based on the miner working at this particular moment of time, and my opportunity will only come around in October. I know that things can go both ways, and LTC can just go higher and returns will be even higher then planned, but I am looking at risks here not profits..

Thanks in advance to people who will respond.

[N1CKH0LAS]

I'd have a question: Why would Giga-watt, which is an older, bigger an more trustable entity, put the money into a smaller and almost unknown entiti's escrow, like cryptonomo ?
In normal situations, the most trusted and older entity/user keeps and secures the money, as it's less likely to run away with the money.

I mean, in this case, Giga-watt built something, have few years history etc, but if the money are kept by cryptonomo, which is basically a way lesser entity with pretty much 0 history, then the escrow ain't safe at all, is it ? Or, in any case, less safe compared to the situation when Giga-watt took the money direcrtly and kept them by themselves.

[Flomess]

I'd have a question: Why would Giga-watt, which is an older, bigger an more trustable entity, put the money into a smaller and almost unknown entiti's escrow, like cryptonomo ?
In normal situations, the most trusted and older entity/user keeps and secures the money, as it's less likely to run away with the money.

I mean, in this case, Giga-watt built something, have few years history etc, but if the money are kept by cryptonomo, which is basically a way lesser entity with pretty much 0 history, then the escrow ain't safe at all, is it ? Or, in any case, less safe compared to the situation when Giga-watt took the money direcrtly and kept them by themselves.

I don't think it's about the escrow security but about the fact that the WTT didn't really want to bother with the development of a token and didn't need to either.

Might seem strange in an era where everyone is selling his own kind of blockchain innovation but a team that has a "real life" product can rightfully entrust a third party with the token emission and ICO managment.

[N1CKH0LAS]

@ Flomess - Thanks for answer. I was thinking about that by myself and I deffinitely agree with these 2 points:
- it's understandable they didn't want/need to develop a token
- it's understandable they needed someone to take care of the ICO itself, so they can focus on the construction/hardware part.
but what's not understandable and it's pretty much the most important thing:
- why does cryptonomo have to keep the money IN THESE CIRCUMSTANCES, when cryptonomo is a way less known entity than Giga Watt. Why exactly would you trust them with, literarly, MILLIONS of $$$, based on the tokens sold so far ( IF THE NUMBERS ARE REAL ) ? Once again, I'm not asking why a company/individual have to use an escrow. I'm asking why a well known company would ever use an entity that's LESS KNOWN, relatively newly created and pretty much nobody ever heard of it and also let them handle an escrow worth of millions $$$

Both on the website and in their White Paper PDF it says "The funds will be released from escrow in step with the completion of facilities". Considering cryptonomo have around $7mil in escrow and Giga Watt haven't really build any new Giga Pods ( on July 15th should be the 1st one completed), what exactly stops cryptonomo keep all these millions without releasing any escrow, EVER ?
Remember, the first building is supposed to be ready on 15th july, so in more than 1 month, which means cryptonomo will be holding 7mil+ (what they got so far) + all the money people will send till 15th July and ONLY THEN they SHOULD release the first batch from escrow, once the Giga Pod from 15th July is finished.

They could have just hired these guys to take care of the ICO, to manage their website and so on just WITHOUT the escrow part. Waiting an answer from cryptonomo aswell, if possible.

[Bitcollector]

Hello guys,

I am very new to mining, hence I will ask following questions. They will probably sound noobish. But hey, why not ask greatest community in the world for support.

I have several options to consider and I don't know which one to choose. Recently I started to consider if I should join giga-watt WTT token crowd sale and invest some money in mining. Wtt website appeared conveincing to me and whole return on investment structure seemed to be straight forward(if you see any underwater difficulties let me know). So here are following options:

   1.   Buying 880 watt tokens to host miner(880$)  gives you an access to mine at 0.033$ kWh+ ASIC L3+ miner(1550$) from giga watt. Total investment of 2430$. With return of 10,577.89$ a year roughly. As what they advertise.
   2.   Buying 1500 watt tokens to host miner(1500$) gives you an access to mine at 0.033$ kWh + ASIC S9 miner(1600$) from giga watt. Total investment of 3100$. With potential return of 4,628.51$. As what they advertise.

I am not 100% sure but I think giga-watt themselves are quite limited in choices of what they can mine i think currently they support mining of BTC, XMR, LTC and ETH. But they don't have Panda miners in stock to mine ETH.

So my main concern is that I can't exactly figure out which one of those methods will be more efficient and what are the risks involved. And of course which method would you choose.  Roll Eyes
In this particular moment of time returns are fucking amazing, below are current retes:

Time Frame         LTC Coins                      BTC (LTC/BTC at 0.01076000)                USD (BTC at $2,920.02)                   Power Cost (in USD)          Pool Fees (in USD)            Profit (in USD)
Hourly                0.05310134                                     0.00057137                                     $1.67                                               $0.02                             $0.02                       $1.64
Daily                  1.27443215                                     0.01371289                                     $40.04                                             $0.58                             $0.40                        $39.47
Weekly              8.92102505                                        0.09599023                                   $280.29                                           $4.03                             $2.80                       $276.26
Monthly               38.23296452                                   0.41138670                                    $1,201.26                                        $17.28                           $12.01                      $1,183.98
Annually            465.16773496                                    5.00520483                                    $14,615.30                                      $210.24                         $146.1                      $14,405.06


In best possible scenario I can break even in: 62.20 Day(s)
Thats of course is magical number, rest of miner lifetime would be profitabe and I would be able to buy more hardware on the go.. and may be invest in more miners and more tokens to host those in giga-watt. So effectively, if everything comes down quite closely to projection, this is an opportunity to build my own little mining income farm in existing giga-watt facilities.. Unless I am counting something wrong in here.

I am seriously considering mining LTC with Antminer L3+ at giga-watt facilities, but lets say I'd be able to start no earlier then October if everything comes down in best possible scenario. Even if we double in difficulty and price of bitcoin goes down to 1k price of LTC would drop accordingly to 0.005btc. I am still going to be able to break even in: 922.79 Day(s)

And thats if we look at worst scenario here. Will this happen? I dont know but risk is worth it i think. Again if lifetime of this miner will last for 2.5 years(some say its around 18 months) as advertised I can consider myself lucky if it holds for 2.5 years.. But if we hit best scenario, with price of litecoin higher then 5$, then I can break even on my investment..

So lets look at potential returns in worst scenario to break even in 922 days on investment of 2430$:

Time Frame           LTC Coins                  BTC (LTC/BTC at 0.00500000)         USD (BTC at $1,000.00)         Power Cost (in USD)       Pool Fees (in USD)            Profit (in USD)
Hourly                  0.02619345                                       0.00013097                                  $0.13                                        $0.02                            $0.00                        $0.11
Daily                     0.62864274                                      0.00314321                                  $3.14                                        $0.58                            $0.03                        $2.54
Weekly                  4.40049917                                      0.02200250                                  $22.00                                      $4.03                            $0.22                        $17.75
Monthly                18.85928214                                     0.09429641                                  $94.30                                      $17.28                          $0.94                        $76.07
Annually               229.45459932                                   1.14727300                                  $1,147.27                                  $210.24                        $11.47                      $925.56

So my risks here are:
1. Difficulty
2. Price
3. Lifetime of miner
4. Government policy.

All of these 4 have very high odds and I cant take current price and difficulty as a solid return plan for what I will get back, current figures are based on the miner working at this particular moment of time, and my opportunity will only come around in October. I know that things can go both ways, and LTC can just go higher and returns will be even higher then planned, but I am looking at risks here not profits..

Thanks in advance to people who will respond.

You have rightly guessed to make difficulty the biggest possibility for not making any money. If you take for example LTC and its increase rate of 3% -4% every time it adjusts, which is about 4 days, you are looking at around 40% per month, so if you pay nothing for electricity you still won't make any money unless the price of the coin goes up alot each month too.

Check out this difficulty calculator. http://www.vnbitcoin.org/litecoincalculator.php

You are paying too much for the miner in the first place. And if you have to wait 1 or 2 or 3 months just to get your miner, good luck. If you buy today, you might get half your money back, if you pay now and wait 30 days, you might get 1/4 of your money back.

Here is a good idea. Buy coins straight out.

You have ask yourself, if the money was so good, why are they selling this idea to somebody else? Think about like this, when is the last time you gave away to the public millions of dollars? If the money is so good, these guys can go and borrow money and mine and make millions. But the problem is the risk is too high. As soon as thousands of Joe Q. public think they can make money they go out and start mining by the thousands. This hunger drives up the mining which drives up the difficulty. This is the same rush in the 1800's for gold.

In 2013, I mined for a short period of time, when BTC went from $110 to over $1000, I was lucky to get out with a profit. It wasn't from great planning. haha. Wish somebody told me that back then.

[cryptonomos]

10 days waiting for withdrawal from cryptonomos.
SCAM

Hello,
We have PM'd you. Let's try to resolve your situation ASAP as this is unacceptable from our side. We really apologize for such delay and awaiting your email to help you out.

[cryptonomos]

waiting for a refund for 7 days already.
Be aware of this site. They're going to steal your money

We already sent you multiple PM's and answered you here a few times. Please send your bitcoin wallet where we can withdraw your funds here: support@cryptonomos.com

There are no PM's and no e-mails i've got from you, what are you talking about? I've sent you 4 letters at support@cryptonomos.com.
Just refund my balance to the address i've used for deposit

Yesterday i got an e-mail from cryptonomos saying to send tx id, amount and address to fin@cryptonomos.com.
Another try to make me wait for a refund one week more ((
Poor support.

That is correct, we've asked you to do so. We need to verify your account, and make sure the funds will be going to the right place.

[cryptonomos]

Is it worthwhile to buy miners already before we get access to our token?

The sooner you order them, the less time you will spend it queue for miners. The demand is overflowing.

[cryptonomos]

I'd have a question: Why would Giga-watt, which is an older, bigger an more trustable entity, put the money into a smaller and almost unknown entiti's escrow, like cryptonomo ?
In normal situations, the most trusted and older entity/user keeps and secures the money, as it's less likely to run away with the money.

I mean, in this case, Giga-watt built something, have few years history etc, but if the money are kept by cryptonomo, which is basically a way lesser entity with pretty much 0 history, then the escrow ain't safe at all, is it ? Or, in any case, less safe compared to the situation when Giga-watt took the money direcrtly and kept them by themselves.

The escrow for this Token Launch is actually Perkins Coie - welll-known company with strong reputation.

[cryptonomos]

@ Flomess - Thanks for answer. I was thinking about that by myself and I deffinitely agree with these 2 points:
- it's understandable they didn't want/need to develop a token
- it's understandable they needed someone to take care of the ICO itself, so they can focus on the construction/hardware part.
but what's not understandable and it's pretty much the most important thing:
- why does cryptonomo have to keep the money IN THESE CIRCUMSTANCES, when cryptonomo is a way less known entity than Giga Watt. Why exactly would you trust them with, literarly, MILLIONS of $$$, based on the tokens sold so far ( IF THE NUMBERS ARE REAL ) ? Once again, I'm not asking why a company/individual have to use an escrow. I'm asking why a well known company would ever use an entity that's LESS KNOWN, relatively newly created and pretty much nobody ever heard of it and also let them handle an escrow worth of millions $$$

Both on the website and in their White Paper PDF it says "The funds will be released from escrow in step with the completion of facilities". Considering cryptonomo have around $7mil in escrow and Giga Watt haven't really build any new Giga Pods ( on July 15th should be the 1st one completed), what exactly stops cryptonomo keep all these millions without releasing any escrow, EVER ?
Remember, the first building is supposed to be ready on 15th july, so in more than 1 month, which means cryptonomo will be holding 7mil+ (what they got so far) + all the money people will send till 15th July and ONLY THEN they SHOULD release the first batch from escrow, once the Giga Pod from 15th July is finished.

They could have just hired these guys to take care of the ICO, to manage their website and so on just WITHOUT the escrow part. Waiting an answer from cryptonomo aswell, if possible.

The escrow is provided by Perkins Coie, a reputable international law firm. Giga Watt will get the funds released from escrow only upon the completion of the facilities and issuance of the respective number of tokens.

[kjs]

Cryptonomos,

Can you get me a phone contact for the exec team at Giga Watt?  I am looking to purchase an entire Giga Pod.

Thanks, KJS.

[calvaro]

Hello I am French living in Montpellier and I would like to go through your services to open my mining farm. I shall need, if I may, a few clarifications with regard to minors. I am a beginner in this matter but a very good opportunity. My first question: The payment for a minor on the Back Office of Giga Watt and for (2. 2.5 years) thanks to the tokens corresponding to the sum of the minor + 10% Are entitled to reductions over 50 years Have I understood that far? My second question: The miners are you who buy them and install them in the price posted in the Back Office of Giga Watt everything is included? I'm registered on Cryptonomos. In France there are very few mining farms so excuse my little knowledge. I thank you for your response in advance. Sorry for my English.

[arwani1985]

what link pool mining ?

[abilger]

Do you only have bitcoin mining or altcoins either? i am interested in Zcash mining currently.

[Xenocyde]

Do you only have bitcoin mining or altcoins either? i am interested in Zcash mining currently.

Only BTC / LTC / ETH atm. More to come soon, after they build most of the remaining Giga Pods (3 months from now maybe).

[stelam]

Hello guys,

I am very new to mining, hence I will ask following questions. They will probably sound noobish. But hey, why not ask greatest community in the world for support.

I have several options to consider and I don't know which one to choose. Recently I started to consider if I should join giga-watt WTT token crowd sale and invest some money in mining. Wtt website appeared conveincing to me and whole return on investment structure seemed to be straight forward(if you see any underwater difficulties let me know). So here are following options:

   1.   Buying 880 watt tokens to host miner(880$)  gives you an access to mine at 0.033$ kWh+ ASIC L3+ miner(1550$) from giga watt. Total investment of 2430$. With return of 10,577.89$ a year roughly. As what they advertise.
   2.   Buying 1500 watt tokens to host miner(1500$) gives you an access to mine at 0.033$ kWh + ASIC S9 miner(1600$) from giga watt. Total investment of 3100$. With potential return of 4,628.51$. As what they advertise.

I am not 100% sure but I think giga-watt themselves are quite limited in choices of what they can mine i think currently they support mining of BTC, XMR, LTC and ETH. But they don't have Panda miners in stock to mine ETH.

So my main concern is that I can't exactly figure out which one of those methods will be more efficient and what are the risks involved. And of course which method would you choose.  Roll Eyes
In this particular moment of time returns are fucking amazing, below are current retes:

Time Frame         LTC Coins                      BTC (LTC/BTC at 0.01076000)                USD (BTC at $2,920.02)                   Power Cost (in USD)          Pool Fees (in USD)            Profit (in USD)
Hourly                0.05310134                                     0.00057137                                     $1.67                                               $0.02                             $0.02                       $1.64
Daily                  1.27443215                                     0.01371289                                     $40.04                                             $0.58                             $0.40                        $39.47
Weekly              8.92102505                                        0.09599023                                   $280.29                                           $4.03                             $2.80                       $276.26
Monthly               38.23296452                                   0.41138670                                    $1,201.26                                        $17.28                           $12.01                      $1,183.98
Annually            465.16773496                                    5.00520483                                    $14,615.30                                      $210.24                         $146.1                      $14,405.06


In best possible scenario I can break even in: 62.20 Day(s)
Thats of course is magical number, rest of miner lifetime would be profitabe and I would be able to buy more hardware on the go.. and may be invest in more miners and more tokens to host those in giga-watt. So effectively, if everything comes down quite closely to projection, this is an opportunity to build my own little mining income farm in existing giga-watt facilities.. Unless I am counting something wrong in here.

I am seriously considering mining LTC with Antminer L3+ at giga-watt facilities, but lets say I'd be able to start no earlier then October if everything comes down in best possible scenario. Even if we double in difficulty and price of bitcoin goes down to 1k price of LTC would drop accordingly to 0.005btc. I am still going to be able to break even in: 922.79 Day(s)

And thats if we look at worst scenario here. Will this happen? I dont know but risk is worth it i think. Again if lifetime of this miner will last for 2.5 years(some say its around 18 months) as advertised I can consider myself lucky if it holds for 2.5 years.. But if we hit best scenario, with price of litecoin higher then 5$, then I can break even on my investment..

So lets look at potential returns in worst scenario to break even in 922 days on investment of 2430$:

Time Frame           LTC Coins                  BTC (LTC/BTC at 0.00500000)         USD (BTC at $1,000.00)         Power Cost (in USD)       Pool Fees (in USD)            Profit (in USD)
Hourly                  0.02619345                                       0.00013097                                  $0.13                                        $0.02                            $0.00                        $0.11
Daily                     0.62864274                                      0.00314321                                  $3.14                                        $0.58                            $0.03                        $2.54
Weekly                  4.40049917                                      0.02200250                                  $22.00                                      $4.03                            $0.22                        $17.75
Monthly                18.85928214                                     0.09429641                                  $94.30                                      $17.28                          $0.94                        $76.07
Annually               229.45459932                                   1.14727300                                  $1,147.27                                  $210.24                        $11.47                      $925.56

So my risks here are:
1. Difficulty
2. Price
3. Lifetime of miner
4. Government policy.

All of these 4 have very high odds and I cant take current price and difficulty as a solid return plan for what I will get back, current figures are based on the miner working at this particular moment of time, and my opportunity will only come around in October. I know that things can go both ways, and LTC can just go higher and returns will be even higher then planned, but I am looking at risks here not profits..

Thanks in advance to people who will respond.

You have rightly guessed to make difficulty the biggest possibility for not making any money. If you take for example LTC and its increase rate of 3% -4% every time it adjusts, which is about 4 days, you are looking at around 40% per month, so if you pay nothing for electricity you still won't make any money unless the price of the coin goes up alot each month too.

Check out this difficulty calculator. http://www.vnbitcoin.org/litecoincalculator.php

You are paying too much for the miner in the first place. And if you have to wait 1 or 2 or 3 months just to get your miner, good luck. If you buy today, you might get half your money back, if you pay now and wait 30 days, you might get 1/4 of your money back.

Here is a good idea. Buy coins straight out.

You have ask yourself, if the money was so good, why are they selling this idea to somebody else? Think about like this, when is the last time you gave away to the public millions of dollars? If the money is so good, these guys can go and borrow money and mine and make millions. But the problem is the risk is too high. As soon as thousands of Joe Q. public think they can make money they go out and start mining by the thousands. This hunger drives up the mining which drives up the difficulty. This is the same rush in the 1800's for gold.

In 2013, I mined for a short period of time, when BTC went from $110 to over $1000, I was lucky to get out with a profit. It wasn't from great planning. haha. Wish somebody told me that back then.

Hey Bitcollector,

Thanks for reply, then from this standpoint I can only say that investing in WTT token project is totally pointless in purpose of mining, unless you are a shark with a lot of equipment in hand. The only profitable side of this project is that someone will rent your tokens. And you start earning something in 3 years(maybe) but for that to happen someone has to rent your tokens non stop from day 1 ))) which is very unlikely I suppose as its not even sold out at this stage, but even if they dont sell all tokens, price of a token has to go significantly up to make renting strategy viable. And will they ever after few years do another ICO? Nobody knows..

[FarmerOak]

Some very thoughtful posts in this thread. A bit over my head, which is why I'll be renting my tokens out, at least until I can figure out how mining works these days (I'm an old school bitcoin miner).

Question: Can we build out own rigs and colocate them at your facility?

[sotisoti]

Has anyone figured out if GigaWatt supports daily payouts?

[Pfizer]

Has anyone figured out if GigaWatt supports daily payouts?

I also wonder whether or not daily payout feature exists in their platform. Because I wanna make a small investment in there, but can we get payout if we need cash urgently.

The period of payouts should be explained by the team, I think.

[sotisoti]

The other thing I'd like to know is the 50-year lifecycle statement. What will happen to the facility if the project is out of fund?