The positive response on this thread from everyone but you suggests that you're approaching this from a different angle from everyone else.
Yes I am that angle would be what he is essentially telling you people is this. Give me ~$60,000 I am going to buy 4 machines with that money then dedicate 2 of them to your payback. The other two I get for just being me the wonderful person I am, thank you very much for your donation. Now you if fools want to go for that go right ahead because that is exactly what the proposal is.
Since there are investors itching to lay hands on this offering, why not start a clone of it for yourself? Oh I know why, you don't have shit to back up the bonds if the hardware fails or whatever reason.
I'll take this opportunity to chime in.
First, gigavps is simply offering a service providing a set income (5Mhps @ PPS rate income) in return for certain conditions (~1BTC per 5Mhps). To many here, this looks to be a good offer. To others, not so good. There is no right or wrong here. Everyone's needs are different. For those who don't want the hassle and expense and risk of running their own farm, this may be a good opportunity. For those who don't mind getting their hands dirty, this may not be so attractive. The key point is that this is an OFFER. If you like it, then buy. If not, feel free to consider other options.
Consider a simplistic example: Say a person wanted to purchase the equivalent of 830Mhash (the hashrate of a BFL Single going for $600). That is 166 bonds (830/5 = 166). Let's assume the bonds go for 1BTC, so it would cost 166BTC. Now 166BTC is currently worth ($4.92x166) = $817. That is a $217 premium over the price of a Single, or 36%. So the first question might be: why pay $817 for 830Mhps when I can buy an actual 830Mhps Single for $600? Well ...
What are the running costs of a Single? One would be electricity. Assuming $0.10/kWh, a Single would cost $0.20 per day to run, or $74/year. After 3 years of operation it would have cost $222 to run, equal to the premium gigavps is proposing. And this assumes it does not suffer an out-of-warranty hardware failure during that 3-year period.
So from this it doesn't look like a bad deal. One drawback, however, is that the buyer has no control over where the hashes go. If they owned a physical Single, and mined at GPUMAX (for example), their income might average closer to 1.2x-1.4x PPS. Under this condition, the Gigamining bonds look less attractive.
Obviously, this is an individual decision. Gigavps's offer may look attractive for some, and not so attractive for others. Neither is wrong.
I notice that Inaba is offering something similar on GLBSE (
https://bitcointalk.org/index.php?topic=75433.0). Competition is never a bad thing.
