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

[Dopert]

Earlier the question was asked what Gigi Watt do if the power company is going to charge more then $ 0.028 per KWH in the future or they had a long term deal for it.

Answer was; that it would not happen because the power company has also a sweet share in your mining facilities.

This statement is not plausible, because the price per KWH they pay you are more or less the same price what the power plant will charge Giga Watt.

Did Giga Watt take some other preventing measures for this situation (example: contract terms)? 

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[kiwi1337]

The tokensoap continues.

Take the theoretical situation the ICO gets stuck at 15M (+15% = 17.25M) tokens.

Statements in favor of more tokens being issued after the ICO:
- Mail from support team: "WTT tokens on week 9 will sell for $1.20, so any remaining tokens [not sold in the ico] should also sell at that price. WTT tokens might be sold on secondary markets, but not right away."
- White paper p4 footnote: "More WTT tokens will be issued as the facility capacity is increased through future build outs."
- White paper p14: "After the completion of the Token Launch, hosting of miners will only be available to retail clients through tokens."
- Telegram Vlad: "Yes,that is still a starting price" , in reply to "meaning that, knowing you'll finish building anyway, the token sale will continue on exchanges at $1.20 if not all tokens are sold ?"

Statements in favor of no more tokens:
- 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.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."
- 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."
- Telegram Vlad: "Of course Giga Watt will not stop building more after it fullfills its obligations to tokenholders, but it's not under this Token Launch."
- Telegram Andrey: "New facilities built by Giga Watt will not be tokenized and will be private. So in no way they will conflict with current tokenholders interests."

The last statement is also interesting, of course it will conflict. If the rate of new facilities will be lower then token rent + remaining costs, noone will be interested in tokens. I'm not saying that it it will happen, but I don't see any guarantee that it won't either.

My misinformation treshold has been reached. Don't want to pull the 'scam' card, but boy these ICO's sure make it easy to do so. ICO's need to mature and professionalize. Either they haven't thought this trough or the wrong people are providing information. It's impossible to make a proper evaluation of this ICO when even something simple like this can't be sorted out.

[xcajun21]

So if you buy right now from bitmain site and send to giga watt, wont work? only if you hold wtt tokens, right? Then to whom does the token holders rent their share of the power, if there aren't miners?
What happens if you own hardware and tokens, but decide to sell the token, will the hardware still have reserved space in the factory?

[Real_Unhooked]

Not sure if this is relevant, but got this in the email.

"Dear WTT token holders,

We are writing to you to announce an important and exciting change. Due to overwhelming demand for Giga Watt’s equipment hosting services the Giga Watt project 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 token renters for current token holders who are not interested in engaging in mining in the near future. We are currently preparing a token holder survey to conduct a more thorough evaluation. As soon as we see demand for more token renters, Giga Watt project will renew their sales of equipment and hosting services to clients who do not own WTT tokens.

This is very good news for all WTT token holders: your tokens will be hard at work whether you do your own mining or rent your tokens out to others.

If you are interested in buying new equipment from Giga Watt, here's some information about the current for sale offers, based on availability:

L3+: LTC payment only
S9: payment in BTC, LTC, and USD
T9: payment in BTC, LTC, and USD
Panda Miner B3 Plus: USD payment only

The availability is regularly updated on Giga Watt's website at https://giga-watt.com/ and in our Telegram channel at https://t.me/cryptonomos

If you intend to purchase mining 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 to purchase WTT tokens in advance if you do not have enough tokens now so yet as the process of purchase of tokens takes some time too and it has to be completed before you can buy your mining equipment.

Sincerely, Cryptonomos team"

[btcapollo]

Not sure if this is relevant, but got this in the email.

"Dear WTT token holders,

We are writing to you to announce an important and exciting change. Due to overwhelming demand for Giga Watt’s equipment hosting services the Giga Watt project 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 token renters for current token holders who are not interested in engaging in mining in the near future. We are currently preparing a token holder survey to conduct a more thorough evaluation. As soon as we see demand for more token renters, Giga Watt project will renew their sales of equipment and hosting services to clients who do not own WTT tokens.

This is very good news for all WTT token holders: your tokens will be hard at work whether you do your own mining or rent your tokens out to others.

If you are interested in buying new equipment from Giga Watt, here's some information about the current for sale offers, based on availability:

L3+: LTC payment only
S9: payment in BTC, LTC, and USD
T9: payment in BTC, LTC, and USD
Panda Miner B3 Plus: USD payment only

The availability is regularly updated on Giga Watt's website at https://giga-watt.com/ and in our Telegram channel at https://t.me/cryptonomos

If you intend to purchase mining 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 to purchase WTT tokens in advance if you do not have enough tokens now so yet as the process of purchase of tokens takes some time too and it has to be completed before you can buy your mining equipment.

Sincerely, Cryptonomos team"

I saw this as well. Any clarification as to what it means? Does this pertain only to purchases of mining equipment from Giga Watt,i.e. equipment sales are only for WTT tokenholders?

[Mr Frog]

Yep, that is what it means. If you want an L3+ you need also 880 GW Tokens to go with it.

[Real_Unhooked]

Someone please help me understand this

You purchase mining equipment thru Gigawatt partners and have it shipped to their facilities.

They host it for you and deduct costs from your rewards based on lower electricity costs.

So where does the WTT come into play for a person who is hosting his miner at Gigawatt facility?

[Mr Frog]

Someone please help me understand this

You purchase mining equipment thru Gigawatt partners and have it shipped to their facilities.

They host it for you and deduct costs from your rewards based on lower electricity costs.

So where does the WTT come into play for a person who is hosting his miner at Gigawatt facility?

From now on.

You need the miner plus the number of Tokens to cover the Power Cons. of the equipment. (As I understood it from the last statement of GW)
Token gives you the right to mine at electricity cost or around it.

Without it you need to rent it from someone in order to mine. In that case The token holder will get some reward renting the tokens to you.

Very well explain here:

https://cryptonomos.com/wtt/
https://giga-watt.com/

[Real_Unhooked]

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?

[Mr Frog]

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/

[Mr Frog]

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...

[Real_Unhooked]

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.

[Mr Frog]

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.

[Real_Unhooked]

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

[Zionatin]

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 !!

[Mr Frog]

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

[Real_Unhooked]

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.

[Mr Frog]

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...  

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 ?

[Mr Frog]

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

[btcapollo]

Why are we restricted to only mining BTC, LTC and ETH?