Gigamining / Teramining

[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.

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

I'm not sure what you could do.  I think the expected difficulty increase is the core problem, with the 9-month duration of Teramining being a close second.

For example, someone with 100 GM converting to paid TM at a cost of 25 BTC today (with TM at 11.75 Mh/s) will get 1500 TM for a total of 17.6 Gh/s.  I plugged that in here: http://mining.thegenesisblock.com/a/9cf5b33149  using 56% monthly diff increase to approximate the 6x diff increase you projected for Dec.

The diff increase has to come down to about 10% for the buyer to see a profit by May 2014.

I kinda hope I'm misunderstanding something big... if so, please tell me.

[jamesg]

Teramining Update

Our hash rate continues to increase with the total now over 11.4Th/s. Teramining will remain a constant 24% of whatever hashing power VPS brings online. This new equipment should hopefully help us keep up with diff changes a little bit longer before we ride out the wave of exponential increases.

[jamesg]

Teramining update

Mining for the week ran at 96.05% PPS. For the month of August, we ran at 99.59% which is better than the expected when including orphan blocks. Our hash rate is still at 11.4Th/s but should climb some more this week.

Gigamining Update

Upgrades for Gigaminers to move to Teramining will be open for one more week. If you have not upgraded, I suggest you do.

Best,
James

[jamesg]

I guess I haven't shared many pictures of the setup yet. So here is a shot of us going into our new and final home.

I've been drooling over this picture all afternoon. 

[Cablez]

Very nice!  What does rack space cost in a place like that if you don't mind me asking? Ballpark it.

[jamesg]

Very nice!  What does rack space cost in a place like that if you don't mind me asking? Ballpark it.

Well, that depends on how many cabinets you lease and for how long.

Also remember that those 4 machines use 9.6kW not including the computer at the top of the cabinet.

If you just purchase a couple of these, it would be a $2k setup fee and easily $2.8k to $3k per month with a minimum lease term of 36-60 months.

[Cablez]

Very nice!  What does rack space cost in a place like that if you don't mind me asking? Ballpark it.

Well, that depends on how many cabinets you lease and for how long.

Also remember that those 4 machines use 9.6kW not including the computer at the top of the cabinet.

If you just purchase a couple of these, it would be a $2k setup fee and easily $2.8k to $3k per month with a minimum lease term of 36-60 months.

Wow!  They better have some A++ tight security for that price.  I hope for your sake they cheap electricity too.

[jamesg]

Wow!  They better have some A++ tight security for that price.  I hope for your sake they cheap electricity too.

Prices go down when your order moar... 

[jamesg]

Teramining Update

We've reached our final hash rate of 12,951Gh/s. With Teramining at 24% of this, the final hash rate comes out to 3,108Th/s or 11.41Mh/s.

It's now time to hunker down and hope other manufacturers start up with delays to maximize the profitability of the equipment received. 

[herzmeister]

It's now time to hunker down and hope other manufacturers start up with delays to maximize the profitability of the equipment received. 

https://www.youtube.com/watch?v=z5rRZdiu1UE ?

[boonies4u]

I remember when this thread was entertaining.

[jamesg]

I remember when this thread was entertaining.

I'm glad the last year has been entertaining for you. 

It is certainly more entertaining for me now that we have trudged though and come out the other side. 

[jamesg]

What? Answering the same questions over and over, the person insults and questions of your integrity? Really, that wan't entertaining for you?

The last year has been, hands down, one of the most difficult periods of my entire life. It has also proved to be one of the most rewarding as I have learned a lot about myself and it has helped me to grow.

I believe I let my sarcasm come through in my previous post which doesn't usually convey well over the intertubes.

[jamesg]

Teramining update

As previously stated, we have reached our final hash rate of 12.95Th/s. We ran at 83.22% PPS last week. Definitely not our greatest week, but you have to have the bad to have the good.

Gigamining Update

I have heard nary a peep from any other Gigaminers who would like to claim. If I do not hear anything by next Monday, Gigamining claims will be closed.

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

Best,
James

[S3052]

Teramining update

As previously stated, we have reached our final hash rate of 12.95Th/s. We ran at 83.22% PPS last week. Definitely not our greatest week, but you have to have the bad to have the good.

Gigamining Update

I have heard nary a peep from any other Gigaminers who would like to claim. If I do not hear anything by next Monday, Gigamining claims will be closed.

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

Best,
James

James,
it is great that you remind people about the claims. Thank you for that.
I am still waiting for an answer on my claim from qpage@mylawyr.com about the bitcoin payment address.
Can you help out?
thanks

[EskimoBob]

At what date, this equipment will become obsolete - not earning profit.
BTW, revenue is not profit, so lets not try that joke

[jamesg]

James,
it is great that you remind people about the claims. Thank you for that.
I am still waiting for an answer on my claim from qpage@mylawyr.com about the bitcoin payment address.
Can you help out?
thanks

Please email me directly with any questions you have.

james at gigamining dot com

Thanks,
James

[TiuraZ]

James, when are you going to tell us what you are going to do with the contracts that are not claimed?

My suggestion is that you donate the accumulated bitcoins to charity.

[S3052]

James,
it is great that you remind people about the claims. Thank you for that.
I am still waiting for an answer on my claim from qpage@mylawyr.com about the bitcoin payment address.
Can you help out?
thanks

Please email me directly with any questions you have.

james at gigamining dot com

Thanks,
James

thanks & sent

[jamesg]

James, when are you going to tell us what you are going to do with the contracts that are not claimed?

My suggestion is that you donate the accumulated bitcoins to charity.

I certain appreciate your suggestion. Unfortunately the liabilities remain and it would be ill advised to do such a thing while claims are still coming in.