Gigamining / Teramining

[BTCurious]

Payouts looking better each week!
I like how we're beating the difficulty increase so far

[lenny_]

When switching to Teramining will be possible?

[Naelr]

When switching to Teramining will be possible?

Really look 2 posts above yours

Upgrades for Gigaminers should be re-opening within the next couple of weeks.

[Naelr]

Payouts looking better each week!
I like how we're beating the difficulty increase so far

Yea we might be but because of BFL not getting their stuff out to James as fast I don't think the payment to upgrade is going to be worth it.  Rough calculations I will just be above breaking even.  I gambled and I didn't win or lose.  Unless something like we never reach full strength or James extends the 9 month contract we will all just be above breaking even.

[jamesg]

Teramining update

We continue to grow and have reached 9.2Th/s which bring Teramining to 1.66Th/s. We've had a pretty good week of mining reaching 93.23% PPS rate.

The pool is running over 35Th/s.

The full analysis of the pool by organofcorti should be out this week.

Gigamining Update

A couple more claims have come in and have been paid.

If you have a claim in process that has not been completed (aka paid) please contact me: james at gigamining dot com

Upgrades for Gigaminers are now open.

Best,
James

[jamesg]

organofcorti has finished his review of the semi-private mining pool -> http://organofcorti.blogspot.com/2013/08/151-semi-private-mining-pool.html

Thanks ooc!

[jamesg]

10.5Th/s has been reached. 

This means that on Monday you'll need to have your upgrade in to get started on the 9mo contract. I will be sending out an email to all remaining Gigaminers tomorrow.

[Naelr]

Teramining update

We continue to grow and have reached 9.2Th/s which bring Teramining to 1.66Th/s. We've had a pretty good week of mining reaching 93.23% PPS rate.

The pool is running over 35Th/s.

The full analysis of the pool by organofcorti should be out this week.

Gigamining Update

A couple more claims have come in and have been paid.

If you have a claim in process that has not been completed (aka paid) please contact me: james at gigamining dot com

Upgrades for Gigaminers are now open.

Best,
James

what exactly does this mean... what has reached 9.2 Th/s verses Teramining getting to 1.66Th/s I am a bit confused.. and now that you have reached 10.5 what part of that is what Tearmining dividends will get paid?

[jamesg]

what exactly does this mean... what has reached 9.2 Th/s verses Teramining getting to 1.66Th/s I am a bit confused.. and now that you have reached 10.5 what part of that is what Tearmining dividends will get paid?

All Teramining contracts are running at the full 9Mh/s and will continue to grow further. This is the most important part of the announcement.

The full order originally made by me is 10.5Th and it has been fulfilled.

Also, more equipment is coming and I will make sure Teraminers see MORE than 9Mh/s per contract.

Hope this helps.

Best,
James

[Naelr]

what exactly does this mean... what has reached 9.2 Th/s verses Teramining getting to 1.66Th/s I am a bit confused.. and now that you have reached 10.5 what part of that is what Tearmining dividends will get paid?

All Teramining contracts are running at the full 9Mh/s and will continue to grow further. This is the most important part of the announcement.

The full order originally made by me is 10.5Th and it has been fulfilled.

Also, more equipment is coming and I will make sure Teraminers see MORE than 9Mh/s per contract.

Hope this helps.

Best,
James

OK I am sorry I forgot exactly how it was going to work... it has been one long summer.  It doesn't matter how much hashing power you have we only see 9Mh/s per contract we hold... I was confused not how you presented it.  Thanks James..

Naelr

[jamesg]

It doesn't matter how much hashing power you have we only see 9Mh/s per contract we hold...

How much hashing power I have does matter because:

• I am going to set each Teramining contract HIGHER than 9Mh/s. We'll probably land in the 11-12Mh/s range.
• I am also going to start covering less than 100% weekly results for Teraminers. This means that the minimum you can get going forward is 100% but you'll still see upside if we have an above average week.
• You'll also know I am able to cover downtime events, unforseen circumstances, etc

Hope I have helped clear some things up.

[Naelr]

It doesn't matter how much hashing power you have we only see 9Mh/s per contract we hold...

How much hashing power I have does matter because:

• I am going to set each Teramining contract HIGHER than 9Mh/s. We'll probably land in the 11-12Mh/s range.
• I am also going to start covering less than 100% weekly results for Teraminers. This means that the minimum you can get going forward is 100% but you'll still see upside if we have an above average week.
• You'll also know I am able to cover downtime events, unforseen circumstances, etc

Hope I have helped clear some things up.

Not trying to get into a debate and hope I didn't offend it was just for my clarification it didn't matter.  But you are most correct and I for one appreciate you even considering raising the hashrate.  The minimum standard is a plus and you are going above and beyond what you promised.  I appreciate that as well and shows the community you aren't trying to screw us like so many thought.  Keep up the good work and thanks for staying true to your word, it means alot.

Naelr

[jamesg]

Not trying to get into a debate and hope I didn't offend

No worries, no offense taken. 

I'm just glad we are on the other side of the last year and I am in a position to be able to deliver.

[exahash]

IS anyone taking the paid teramining upgrade?  If so, why?

I just used thegenesisblock.com calculator and even with no diff increase, the incremental hashing increase from paid vs free will not break even in 9 months.  Did I miss something?

If I take the free upgrade, I'll get about 7x what sticking with Giga would have generated in the 9 mos, and then it's over.  I'll book a net loss of 50% plus on my gigamining investment.  Yay.

[jamesg]

IS anyone taking the paid teramining upgrade?  If so, why?

I just used thegenesisblock.com calculator and even with no diff increase, the incremental hashing increase from paid vs free will not break even in 9 months.  Did I miss something?

If I take the free upgrade, I'll get about 7x what sticking with Giga would have generated in the 9 mos, and then it's over.  I'll book a net loss of 50% plus on my gigamining investment.  Yay.

Could add some suggestions for what you would like me to do?

[jamesg]

Once all upgrades are completed, Teramining will be 23.65% of operations at 10.5Th/s. I am rounding this percentage up to 24% and Teramining will continue to grow as more equipment is received and put online. I should be able to reach around 13.5Th/s within the next couple of weeks which would make Teramining 3.24Th/s or 11.75Mh/s per Teramining contract. This amount is greater than the originally proposed 10Mh/s and represents a 30.5% increase over the 9Mh/s.

The teramining contract officially starts tomorrow August 26th, 2013 and will run through May 26th, 2014. This term is guaranteed even if the equipment costs more to run than it is making for Teraminers.

Once Teramining reaches 13.5Th/s, we will be riding out the exponential growth of the network and will see where we land. I have pretty pessimistic numbers in my projections and they still show a return for those who paid for the upgrade.

As always, I am 100% committed to making sure Teraminers are taken care of. I have been traveling almost non-stop for three months now to get us to this point.

I am beyond grateful to all of you who have worked with me through the last year. Thank you for your continued support.

Best,
James

[qxzn]

Once all upgrades are completed, Teramining will be 23.65% of operations at 10.5Th/s. I am rounding this percentage up to 24% and Teramining will continue to grow as more equipment is received and put online. I should be able to reach around 13.5Th/s within the next couple of weeks which would make Teramining 3.24Th/s or 11.75Mh/s per Teramining contract. This amount is greater than the originally proposed 10Mh/s and represents a 30.5% increase over the 9Mh/s.

The teramining contract officially starts tomorrow August 26th, 2013 and will run through May 26th, 2014. This term is guaranteed even if the equipment costs more to run than it is making for Teraminers.

Once Teramining reaches 13.5Th/s, we will be riding out the exponential growth of the network and will see where we land. I have pretty pessimistic numbers in my projections and they still show a return for those who paid for the upgrade.

As always, I am 100% committed to making sure Teraminers are taken care of. I have been traveling almost non-stop for three months now to get us to this point.

I am beyond grateful to all of you who have worked with me through the last year. Thank you for your continued support.

Best,
James

Thanks for everything you've put into this James. Can you share your projected numbers?

[jamesg]

Can you share your projected numbers?

I have us at an average network size of 2.95Ph/s for the month of December if all manufacturers are able to deliver on their timelines. While this is unlikely, I would like to think it is accounted for. There are still unknowns including private mines, unknown manufacturers in China, etc.

This is going to be a wild ride even though it sometimes feels like we are moving in slow motion.

[qxzn]

Can you share your projected numbers?

I have us at an average network size of 2.95Ph/s for the month of December if all manufacturers are able to deliver on their timelines. While this is unlikely, I would like to think it is accounted for. There are still unknowns including private mines, unknown manufacturers in China, etc.

Thanks!

This is going to be a wild ride even though it sometimes feels like we are moving in slow motion.

woo!

[jamesg]

Teramining update

We have reached our initial hash rate of 10.5Th/s and today marks the start of the Teramining 9 month term. If you have not upgraded from Gigamining yet, now is the time to do so. We ran at 88.77% PPS last week. Not a stellar week, but we've had far worse.

The pool is just under 40Th/s and this has continued to keep variance far lower than when we were solo mining. If you haven't seen the full analysis of the pool yet, check out the link below.

http://organofcorti.blogspot.com/2013/08/151-semi-private-mining-pool.html

Gigamining Update

I continue to pay claims as people submit the required information. We are now at 86.51% claimed and in good standing.

If you have a claim in process that has not been completed (aka paid) please contact me: james at gigamining dot com

Upgrades for Gigaminers to move to Teramining are open.

Best,
James