Gigamining / Teramining

[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.

[jamesg]

Teramining Update

We ran at 109.18% PPS last week. Definitely a good week. 

Gigamining Update

More claims have come in and have been approved since the lull over the last few weeks.

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

Best,
James

[Sukrim]

Well, mine is not in process... still unpaid though as I am still refusing to sign these statements that were not part of the original deal.

[kjlimo]

Well, mine is not in process... still unpaid though as I am still refusing to sign these statements that were not part of the original deal.

makes sense... given that everything else in the "original deal" is exactly the same... let me just log in to my online account managed by GLBSE...

perhaps I can file an online ticket with Nefario??? 

[BurtW]

Well, mine is not in process... still unpaid though as I am still refusing to sign these statements that were not part of the original deal.

We know.  There is no need for you to keep beating that dead horse.

[kjlimo]

Well, mine is not in process... still unpaid though as I am still refusing to sign these statements that were not part of the original deal.

We know.  There is no need for you to keep beating that dead horse.

I suppose Giga appreciates the free bump; however, others will not appreciate the meaningless responses... such as this one

[BurtW]

Well, mine is not in process... still unpaid though as I am still refusing to sign these statements that were not part of the original deal.

We know.  There is no need for you to keep beating that dead horse.

I suppose Giga appreciates the free bump; however, others will not appreciate the meaningless responses... such as this one

I can do this all day

[AndrewWilliams]

So what's the profitability on this?

Seems like one of the better run groups...

[kjlimo]

So what's the profitability on this?

Seems like one of the better run groups...

doesn't matter... it's closed to new investors...

[TiuraZ]

So what's the profitability on this?

Seems like one of the better run groups...

doesn't matter... it's closed to new investors...

And old ones too, if you don't jump through legal hoops.

[Sukrim]

Well, mine is not in process... still unpaid though as I am still refusing to sign these statements that were not part of the original deal.

makes sense... given that everything else in the "original deal" is exactly the same... let me just log in to my online account managed by GLBSE...

perhaps I can file an online ticket with Nefario??? 

Giga has more than enough information available to send me the BTC he owes me and I have also offered to sign something with the payout address of mine he has on record.

Unilaterally closing a contract after imposing unreasonable requests for private information + a signed statement that definitely wasn't part of the initial contract does have nothing to do with GLBSE closing.

[kjlimo]

Well, mine is not in process... still unpaid though as I am still refusing to sign these statements that were not part of the original deal.

makes sense... given that everything else in the "original deal" is exactly the same... let me just log in to my online account managed by GLBSE...

perhaps I can file an online ticket with Nefario??? 

Giga has more than enough information available to send me the BTC he owes me and I have also offered to sign something with the payout address of mine he has on record.

Unilaterally closing a contract after imposing unreasonable requests for private information + a signed statement that definitely wasn't part of the initial contract does have nothing to do with GLBSE closing.

But it does have everything to do with him trying to comply with laws and regulations...

[Otoh]

The contract runs until 2014 05 26, so approx 31 weeks more, I have 22,950 contracts & if we continued to get about 10 btc / week (the average of the last 2 weeks, one bad & one good), then I would receive about 310 btc but of course it will be far, far lower than this due to ever increasing difficulty.

Since upgrading to TerraMining on 2013 02 26 I have received a total of approx 142.84 btc & lost approx 69.13 btc that I would have received by continuing with GigaMining, maybe more with the free upgrade option.

So 310 + 143 - 69 = 384 btc about what I could be getting if no difficulty increase & not counting the continued loss of GigaMining payments.

I paid 382.50 btc for the upgrade path as GigaVPS assured me it would be a better deal in the long run, I trusted him even though my original investment in GM had lost a large amount, it seems obvious now that the switch to the TM paid upgrade is going to lose me yet more unless Giga does the honorable thing which is to, at the very least, commit to paying back to investors eventually a minimum of what they paid to upgrade plus the amount that they would have received on the free upgrade path, preferably more to retain some goodwill for the future.

As it is right now I will never have anything to do with any mining operation in the future & so far am very disillusioned by participating in any of these ventures.

[kjlimo]

The contract runs until 2014 05 26, so approx 31 weeks more, I have 22,950 contracts & if we continued to get about 10 btc / week (the average of the last 2 weeks, one bad & one good), then I would receive about 310 btc but of course it will be far, far lower than this due to ever increasing difficulty.

Since upgrading to TerraMining on 2013 02 26 I have received a total of approx 142.84 btc & lost approx 69.13 btc that I would have received by continuing with GigaMining, maybe more with the free upgrade option.

So 310 + 143 - 69 = 384 btc about what I could be getting if no difficulty increase & not counting the continued loss of GigaMining payments.

I paid 382.50 btc for the upgrade path as GigaVPS assured me it would be a better deal in the long run, I trusted him even though my original investment in GM had lost a large amount, it seems obvious now that the switch to the TM paid upgrade is going to lose me yet more unless Giga does the honorable thing which is to, at the very least, commit to paying back to investors eventually a minimum of what they paid to upgrade plus the amount that they would have received on the free upgrade path, preferably more to retain some goodwill for the future.

As it is right now I will never have anything to do with any mining operation in the future & so far am very disillusioned by participating in any of these ventures.

Looks like all your calculations are in BTC.  Is the same true for USD? 

Bitcoin is but a means of transfer to take advantage of this opportunity.  Had you invested USD, perhaps the story would be different...

[Otoh]

...
Looks like all your calculations are in BTC.  Is the same true for USD?  

Bitcoin is but a means of transfer to take advantage of this opportunity.  Had you invested USD, perhaps the story would be different...

Yes my calculations are in btc because those are what I invested & what the returns are in, obviously it would have been better to have not paid for an upgrade to TM & just kept the 382.50 btc & taken the free upgrade it was Giga who promoted this as a way to help recoup some of the losses made earlier by those who invested in GM. I was warned att that I was just throwing good money after bad & I said that I was probably naive to still trust this & now looking at the figures it seems that was the case, unless Giga comes up with something fairer.