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Author Topic: Gigamining / Teramining  (Read 201604 times)
jamesg
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May 21, 2012, 11:17:57 AM
 #201

To all gigaminers,

Coupon payments have been sent out.

Best,
gigavps
Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
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BTCurious
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^SEM img of Si wafer edge, scanned 2012-3-12.


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May 21, 2012, 03:44:45 PM
 #202

Received. Cheers!

jamesg
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May 22, 2012, 02:21:26 AM
 #203

Looks like gigamining is getting some bitcoin press coverage...

http://www.bitcoinmoney.com/post/23499116232/glbse-stock-market
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May 22, 2012, 03:47:45 AM
 #204

Looks like gigamining is getting some bitcoin press coverage...

http://www.bitcoinmoney.com/post/23499116232/glbse-stock-market

Interesting article, although I thought it a bit harsh to summarise at the bottom as
These investments are either donations that come with benefits (à la Kickstarter) or they are speculative gambling at the cheapo casino.   There is nothing in between.

I certainly don't see Gigamining at those extreme ends of the spectrum.
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Ad astra.


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May 23, 2012, 12:55:44 AM
 #205

Looks like gigamining is getting some bitcoin press coverage...

http://www.bitcoinmoney.com/post/23499116232/glbse-stock-market

Interesting article, although I thought it a bit harsh to summarise at the bottom as
These investments are either donations that come with benefits (à la Kickstarter) or they are speculative gambling at the cheapo casino.   There is nothing in between.

I certainly don't see Gigamining at those extreme ends of the spectrum.

Stocks are effectively an educated, complicated, and multifaceted way of gambling. Bonds are not. The article writer sadly fails to differentiate between the two.

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jamesg
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May 23, 2012, 01:01:04 AM
 #206

Looks like gigamining is getting some more press.

http://tsukino.ca/bmf/2012/05/21/gigamining/
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May 23, 2012, 01:59:31 AM
 #207

Stocks are effectively an educated, complicated, and multifaceted way of gambling. Bonds are not. The article writer sadly fails to differentiate between the two.

If you think investing is gambling, which it is I suppose for those lacking financial intelligence, then bonds, just like equity, would be just as much an educated, complicated and multifaceted way of gambling due to the major issue of counter-party risk.

Garr255
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May 23, 2012, 02:18:29 AM
 #208

investors always win.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

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BinaryMage
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May 25, 2012, 12:08:53 AM
 #209

Stocks are effectively an educated, complicated, and multifaceted way of gambling. Bonds are not. The article writer sadly fails to differentiate between the two.

If you think investing is gambling, which it is I suppose for those lacking financial intelligence, then bonds, just like equity, would be just as much an educated, complicated and multifaceted way of gambling due to the major issue of counter-party risk.

Note the "effectively". There is a difference between gambling and effectively gambling. Perhaps gambling itself is a misnomer, as it has many negative connotations, but the principle remains the same. You are putting money into something with the hope that more will come out and the risk that it will not. Stocks are infinitely more complicated, and certainly more financially viable in most cases, but the principle remains the same.

You can define bonds as gambling if you wish, but by that definition, counter-party risk would make any financial operation involving an investment into another person or corporation "gambling", which I think most people would disagree with.

However, in this case, I think your point is perfectly valid, as counter-party risk is inherently significant in low-volume deals with oft-unknown quantities using a semi-anonymous currency. I stand corrected.


Uh-uh. The problem is that people don't think before they invest. If you have a company that owns 10 aeroplanes, and each aeroplane is 100 million dollars new, then is the company worth 1 billion? Yes and no. You have to account for the fact that each aeroplane has a 15 year lifespan and will make 15 million dollars a year for that 15 years. So, is the company worth 6 billion!? No! You have to understand how these things work, and it's complicated, but it is NOT gambling. You have to understand counterparty risk as stated above, but also things like NPV. 20 aeroplanes making 15 million dollars each is 300 million a year. But this must be discounted. Use a NPV formula. The NPV of 300 million for 20 years, at a 10% discount, is over 1.8 billion. So, if you can buy 1.8 billion for 1 billion do you do it? The rate over 20 years will be about 3%. That is investing. You analyze, you decide to pull the trigger, and then you have to wait for 20 years.

So you see the second problem, that people buy and sell stocks on the year, month, or even day (some traders buy and sell a stock within minutes or even seconds). This is good for liquidity but very bad for your profits. You CAN try to gamble on the stock market, but in the long run, remember this: investors always win. [edit: the problem is that they often don't win very much  Grin]

Investing is very different from gambling.

Again, effectively, given context and article target audience. My statement was perhaps too blanket, however.

And, as for investors always winning, I'm afraid not everyone is as lucky, or as savvy, whichever way you'd prefer to put it, as you are.


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May 25, 2012, 02:32:15 AM
 #210

Gigamining is very close to 20kBTC trade volume, which is far superior to everything but BitBond. Congrats!

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

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jamesg
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May 25, 2012, 06:45:58 PM
 #211

To all gigaminers,

Most of gigamining's GPU infrastructure is now in the capable hands of fedex. I will be meeting up with the equipment next weekend to get everything setup at the new gigamining DC. The mini rigs will also be meeting me that the new location so you can expect pictures and video to come shortly after their arrival.

Best,
gigavps
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May 25, 2012, 06:48:42 PM
 #212

To all gigaminers,

Most of gigamining's GPU infrastructure is now in the capable hands of fedex. I will be meeting up with the equipment next weekend to get everything setup at the new gigamining DC. The mini rigs will also be meeting me that the new location so you can expect pictures and video to come shortly after their arrival.

Best,
gigavps
LOL
I hope you packed the stuff well.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
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May 25, 2012, 07:12:31 PM
 #213

^  That is Funny

GPG PubKey | THREEMA | OTC | HeatWare | 1JWU42QLGFESoQCC4iPzUDTRiC9nx5bi95
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May 25, 2012, 09:21:27 PM
 #214

Care to clue us in to which state you've moved to?


Discover anarcho-capitalism today!
jamesg
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May 25, 2012, 09:27:04 PM
 #215

Care to clue us in to which state you've moved to?

All in due time.  Wink
pieppiep
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May 26, 2012, 07:58:26 AM
 #216

Care to clue us in to which state you've moved to?


The arctic, no more cooling needed Smiley
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Michael, send me some coins before I hitman you


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May 26, 2012, 08:06:02 AM
 #217

Care to clue us in to which state you've moved to?

All in due time.  Wink
Giga's worried someone might try to intercept the FedEx truck.

Don't mix your coins someone said isn't legal
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May 26, 2012, 10:22:05 AM
 #218

Can't wait for the news Tongue

jamesg
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May 28, 2012, 09:56:12 AM
 #219

To all gigaminers:

Coupon payments are out for the week.

Enjoy the memorial day holiday if you are in the US!

Best,
gigavps
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May 28, 2012, 05:22:12 PM
 #220

Everyone seen a huge dump?
Down to 1.22
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