Gigamining / Teramining

[pazor]

James, what happens if not claimed on/before 23 May 2013?
What happens to the unclaimed shares?

it is simply.
take it or leave it.

may be he will donate the dividends for something useful

[dishwara]

James, what happens if not claimed on/before 23 May 2013?
What happens to the unclaimed shares?

James?

[dishwara]

FAQ
Q: Where can I see all coupon payments made to date?
A: All coupon payments can be found at http://gigamining.com/

I try to find the dividend payments there, but its showing hash rate.
Can you tell me from where i can know how much dividend accumulated for my shares?

[jamesg]

FAQ
Q: Where can I see all coupon payments made to date?
A: All coupon payments can be found at http://gigamining.com/

I try to find the dividend payments there, but its showing hash rate.
Can you tell me from where i can know how much dividend accumulated for my shares?

https://virtualprocessingsolutions.com/

[dishwara]

FAQ
Q: Where can I see all coupon payments made to date?
A: All coupon payments can be found at http://gigamining.com/

I try to find the dividend payments there, but its showing hash rate.
Can you tell me from where i can know how much dividend accumulated for my shares?

https://virtualprocessingsolutions.com/

oops, thanks.

[Otoh]

BFL ASIC up date

BFL Jalapeno Unboxing and Demo (with video) (codinginmysleep.com)

http://www.youtube.com/watch?v=_6mmTRheUzg

Just to be clear, this isn't an official shipped-to-customer unit, this was provided to me as a member of the media and a developer. Customers' units should be shipping very soon*, I think I only got this first because they overnighted it.

"1 week out"*

[Otoh]

Butterfly Labs ships jalapeños

[jamesg]

To all verified Gigaminers:

The upgrade process to Teramining will be closed Friday morning.

To those who have already upgraded, a detailed explanation of the last few months plus the plan moving forward will be emailed to you once some lose ends are finalized.

Best,
James

[johnlu]

To all verified Gigaminers:

The upgrade process to Teramining will be closed Friday morning.

To those who have already upgraded, a detailed explanation of the last few months plus the plan moving forward will be emailed to you once some lose ends are finalized.

Best,
James

So, gigavps, I understand that you're receiving your order this week. Can you tell us anything about this? You said that you'd tell us in case you know anything about this.

[jamesg]

So, gigavps, I understand that you're receiving your order this week. Can you tell us anything about this? You said that you'd tell us in case you know anything about this.

Equipment will be pouring in slowly (not all at once). BFL is still working on issues related to energy consumption.

The Teramining contract will not officially start until all of the equipment is in. But we will be mining and dispersing coins based on equipment that does arrive. I have no idea at this time how much equipment BFL will be able to produce.

If you have not upgraded, you have two options.

• Upgrade and start to receive Teramining payments as more and more ASIC equipment comes in.
• Stick with Gigamining until BFL works out all of their issues and ships equipment in bulk.

The choice is yours.

[johnlu]

So, gigavps, I understand that you're receiving your order this week. Can you tell us anything about this? You said that you'd tell us in case you know anything about this.

Equipment will be pouring in slowly (not all at once). BFL is still working on issues related to energy consumption.

The Teramining contract will not officially start until all of the equipment is in. But we will be mining and dispersing coins based on equipment that does arrive. I have no idea at this time how much equipment BFL will be able to produce.

If you have not upgraded, you have two options.

• Upgrade and start to receive Teramining payments as more and more ASIC equipment comes in.
• Stick with Gigamining until BFL works out all of their issues and ships equipment in bulk.

The choice is yours.

But you don't tell if you are receiving at least even one tiny jalapeno. You are forcing us to upgrade before this friday and you are not saying if you are going to receive anything. You tell me that you'll tell me when you were starting to receive BFL order. If I upgrade now and you do not rececive nothing this week or even next week I'll loose next monday payout or even more of them. Why are doing this?

[jamesg]

But you don't tell if you are receiving at least even one tiny jalapeno. You are forcing us to upgrade before this friday and you are not saying if you are going to receive anything. You tell me that you'll tell me when you were starting to receive BFL order. If I upgrade now and you do not rececive nothing this week or even next week I'll loose next monday payout or even more of them. Why are doing this?

This is the situation we find ourselves in. I wish I had more information to provide, but I don't.

If you want to stick with Gigamining until the upgrade process is opened again, you are more than welcome to.

As I stated, the Teramining contract will not start until ALL of the equipment has arrived. This means Teraminers will be mining but not at full speed.

I wish I could tell you how long this will be for, or the exact delivery of equipment, but only BFL knows this.

[Epoch]

Am I to understand that the choices are:

1) upgrade before Friday and forfeit all future gigamining payments. Receive no gigaming/teramining income until teramining equipment starts trickling in, which (a) we don't know when and (b) don't know how fast and (c) don't know how much. Or,

2) don't upgrade and continue receiving gigamining payments.

The unfortunate reality is that no one, not even BFL, knows when they will start shipping product in significant quantity. They have shipped out a handful of Jalapenos at this point because they have the PCBs and have Single cases to repurpose. My understanding is that they are waiting on revised PCBs and cases for the Singles due to their huge power consumption. Minirigs are a big question mark at this point, as what was supposed to be a 1200W system is now looking to be an 8000W system. Imagine the challenges of putting together something like this. Nothing of significance might ship out for weeks yet, or longer. Bottom line is that no one knows, and shareholders are being asked to upgrade now, twiddle their thumbs, and forfeit all mining payments for an unspecified, undetermined, time.

I would expect that shareholders are entitled to the income generated by their gigamining shares until a time of *their* choosing (unless they are bought out); IIRC those were, essentially, the terms under which they were bought. I won't pretend to be qualified to argue legally, but ethically things appear quite clear. Setting a time limit for the teramining upgrade seems to be an arbitrary and unnecessary restriction. Why not keep the upgrade option open and let people decide for themselves when they want to switch?

For shareholders, it is beneficial for them to hold on to their gigamining shares in the short term, since that's the only way for their income to continue right now. When (weeks? months?) enough teramining equipment arrives to make teramining more profitable than gigamining, that is the time for shareholders to upgrade. This way the spirit of the gigamining contract can be upheld and shareholders would maximize their profits. Can this not be done instead of the proposed forced upgrade deadline?

[jamesg]

Can this not be done instead of the proposed forced upgrade deadline?

To be quite honest, I have disadvantage many of the most faithful of Gigaminers who claimed early and upgraded two months ago. This was certainly not my intention and it will be rectified.

For those who have not upgraded, I have given fair warning for the close of the upgrade process. The upgrade process will reopen when the equipment received can accommodate more Teraminers.

Part of the compensation for turning in Gigamining early will be that Teramining will start mining with equipment received WITHOUT the 9mo clock running.

[johnlu]

I agree with Epoch. Gigavps, can you explain the reason you are closing teramining upgrades on next friday? I can't see any reason other than you're trying to make people abandon gigamining and its weekly dividends. One more thing I do not understand, the reason to not send gigamining dividends to people who upgrade.

Edit: I read your previous message.

[TiuraZ]

I won't pretend to be qualified to argue legally, but ethically things appear quite clear

Talking about ethics and gigamining in the same post is 

[SysRun]

gigavps, have you had any contact with BFL lately? We're all scratching our heads as to why they've decided to ship without using the 1/3 shipping plan. Perhaps you know what the hell is going on over there.

Maybe I'm wrong and they haven't abandoned the plan. Was 1 of the 3 parts "fuck you"?

I'm trying to remember...

[boonies4u]

gigavps, have you had any contact with BFL lately? We're all scratching our heads as to why they've decided to ship without using the 1/3 shipping plan. Perhaps you know what the hell is going on over there.

Maybe I'm wrong and they haven't abandoned the plan. Was 1 of the 3 parts "fuck you"?

I'm trying to remember...

Power issues forced them to redesign boards and create new cases for the ASIC Singles. To stick with the 1/3 shipping plan would to cause even further delays. This is my observation anyways.

And yes, i'm still following this thread

[jamesg]

gigavps, have you had any contact with BFL lately?

BFL upper management is not easy to get a hold of.

We're all scratching our heads as to why they've decided to ship without using the 1/3 shipping plan. Perhaps you know what the hell is going on over there.

I'd assume the same as boonies.

Maybe I'm wrong and they haven't abandoned the plan. Was 1 of the 3 parts "fuck you"?

BFL being 6 months late and 6x on power hasn't helped keep existing plans in place. Nevertheless, I'm pushing through these things.

Where there is a will there is a way.

[pazor]

Can this not be done instead of the proposed forced upgrade deadline?

To be quite honest, I have disadvantage many of the most faithful of Gigaminers who claimed early and upgraded two months ago. This was certainly not my intention and it will be rectified.

For those who have not upgraded, I have given fair warning for the close of the upgrade process. The upgrade process will reopen when the equipment received can accommodate more Teraminers.

Part of the compensation for turning in Gigamining early will be that Teramining will start mining with equipment received WITHOUT the 9mo clock running.

that is meaning, you will pay for teramining every month some dividends from now on, without time limit of 9 months ?
i accept your compensation offer.

please start teramining, i am waiting for your first payment on may.