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Author Topic: Gigamining / Teramining  (Read 201412 times)
pazor
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November 19, 2013, 07:39:10 AM
 #2501

James is laid up due to a bad accident.  I am sure he will get us our dividends as soon as he can.
On a personal level I wish James a speedy recovery; on a business level I am surprised there are no contingencies in place for such occurrences. Professional businesses do not rely on people; they rely on processes.

If something happens to an individual, there should be a process in place that allows normal business operations (e.g. dividend payments) to continue. Instead, what we see here is that what happens to one individual (James) has an effect on hundreds of bondholders. If I were a bondholder I would find this concerning. I am not concerned with this specific case of dividends being late, but rather the fundamental question it raises: if James gets abducted by aliens or hit by a bus do our bonds and dividends disappear as well?

Simply, yes

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jamesg
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November 19, 2013, 10:47:29 AM
 #2502

On a personal level I wish James a speedy recovery;

Thanks.

on a business level I am surprised there are no contingencies in place for such occurrences. Professional businesses do not rely on people; they rely on processes.

All payments went out yesterday as expected. There are standard operating procedures written up for making payments to both Gigamining and Teramining along with procedures to run different aspects of the business. In fact, I do not even handle these anymore.
Epoch
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November 19, 2013, 02:20:53 PM
 #2503

All payments went out yesterday as expected. There are standard operating procedures written up for making payments to both Gigamining and Teramining along with procedures to run different aspects of the business. In fact, I do not even handle these anymore.
Nice to hear this; I do recall reading something like this earlier in the thread (ages ago) but did not locate it at the time. I am not a bondholder, but lile to watch the happenings; this remains one of the better-run mining operations.

I should know better by now not to put much stake into BurtW's FUD, whether well-intentioned or not.

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jamesg
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November 19, 2013, 02:35:25 PM
 #2504

Nice to hear this; I do recall reading something like this earlier in the thread (ages ago) but did not locate it at the time. I am not a bondholder, but lile to watch the happenings; this remains one of the better-run mining operations.

I appreciate your kind words. When the Teramining contract is over, there will be no question that I've kept my commitments and will have gone far far beyond them.

I should know better by now not to put much stake into BurtW's FUD, whether well-intentioned or not.

BurtW is a good friend and I appreciate him letting the thread know that I am a bit out of commission.
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November 21, 2013, 12:43:02 PM
 #2505

Teramining Update

Looks like I haven't posted our performance for the past couple of weeks.

  • 11/11 - 93.31%
  • 11/18 - 83.94%

VPS is putting the final touches on a deal to expand our hashing capacity. All Teraminers will be receiving the same 24% of whatever VPS runs so this will mean a per contract speed of between 56.14Mh/s and 67.51Mh/s depending on whether we keep the old equipment running. The original per contract speed was 9Mh/s and is currently 11.5Mh/s. This represents a 4.8x to 5.8x increase in hashing power over our existing infrastructure.

All of the hosting will also be paid for 1 year from delivery, so I'll be extending the Teramining contract as well. The extension will be 1 year from the date of delivery of this equipment.

My commitment to those who have stuck by me and have worked with me though the last year is unwavering. I appreciate all of you and look forward to continuing to be your mining partner.

Best regards,
James
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November 21, 2013, 04:31:06 PM
 #2506

FANTASTIC!  Grin

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
pazor
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November 21, 2013, 06:55:19 PM
 #2507

james, you surprise me everytime !

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jbreher
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November 21, 2013, 10:52:24 PM
 #2508

Much appreciated, James. I thank you for going above and beyond the terms of the contract. This should do much to offset the pain of skyrocketing difficulty.

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November 22, 2013, 08:26:02 AM
 #2509

great news!
jamesg
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November 26, 2013, 01:28:03 PM
 #2510

Teramining Update

Last week we ran at 86.19% of PPS. Our luck for the week was close to breakeven but a couple of orphans beat our percentage earned down a bit.

I will be sending an email update hopefully later this week to all Teraminers to give some specifics on the new hashing power being purchased and some timelines for delivery.

Best,
James
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December 02, 2013, 06:41:18 PM
 #2511

Teramining Update

Last week we ran at 85.37% of PPS. Our luck for the week was close to breakeven but a couple of orphans beat our percentage earned down a bit yet again.

I have moved our mining to multiple pools to help reduce our variance.

The Teramining email was well received last week and I was pleased to read your responses.

Best,
James
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December 06, 2013, 10:50:47 PM
 #2512

Sites offline for me?

Is this still going? saw some negative posts...

Arguing with an idiot is like playing chess with a pigeon. Even if you win, they strut around, knock the pieces over and shit all over the place.
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BurtW
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December 06, 2013, 11:25:48 PM
 #2513

Sites offline for me?

Is this still going? saw some negative posts...
Link(s)?

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
jamesg
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December 09, 2013, 05:56:22 PM
 #2514

Teramining Update

Last week we had a stellar week and ran at 119.51% of PPS.

Best,
James
jamesg
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March 03, 2014, 02:27:24 PM
 #2515

Wow. Didn't realize how long it has been since I last updated this thread. Performance results since the Dec 9th update are:

Code:
12/16 -  86.56%
12/23 -  96.84%
12/30 - 100.73%
01/06 -  86.07%
01/13 - 105.27%
01/20 -  98.90%
01/27 -  88.76%
02/03 - 101.61%
02/10 - 110.49%
02/17 -  92.26%
02/24 -  94.47%
03/03 -  98.66%

In other news, we are still waiting on our 64Th from specific vendors who are well known for being late. More on this as it becomes available.

In other other news, VPS has started working with a new hardware supplier who under promises and over delivers (gasp)!

Instead of explaining everything that is going on, I'll let you check things our for yourselves.

http://eligius.st/~wizkid057/newstats/userstats.php/1JdrvUEgB1MHBEkdjq2BYEZ5oJd9dFKNto

Teramining will remain 24% of whatever VPS runs. This new mine is halfway done and the rest of the hashing power will be coming online over the next couple of days.

A follow up email will be sent once we are done the install and I have some time to write a proper update. Until then, crtl+r the eligius page to see what we are up to. Wink

And now for the mining p0rn...

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March 04, 2014, 04:57:40 AM
 #2516

Thanks for the update, James.

BFL being BFL is no real surprise. At least that's what I assume you mean.

The elegius page is interesting. But I am unclear on what is being shown. Does this indicate VPSs hashrate has increased by a factor of around 10x in the last week? Or are you moving from your proprietary pool to elegius, mostly over the last week? Currently puzzled.

Racks look nice.

I've said it before, but thanks for the regular, drama-free revenues.

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March 04, 2014, 12:12:58 PM
 #2517

James,

Speaking of Drama free revenues... got my weekly payment last night at 10:06 pm and as of this morning at 7:12 am still 0 confirmations.  Any ideas?

Naelr

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March 04, 2014, 01:54:38 PM
 #2518

James,

Speaking of Drama free revenues... got my weekly payment last night at 10:06 pm and as of this morning at 7:12 am still 0 confirmations.  Any ideas?

Naelr

idea: patience?

Smiley  Good things come to those who wait.

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jamesg
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March 04, 2014, 02:50:27 PM
 #2519

BFL being BFL is no real surprise. At least that's what I assume you mean.

Both BFL and Hashfast are late and  they are the providers of the 64Th.

The elegius page is interesting. But I am unclear on what is being shown. Does this indicate VPSs hashrate has increased by a factor of around 10x in the last week? Or are you moving from your proprietary pool to elegius, mostly over the last week? Currently puzzled.

Your weekly payouts should be close to 10x once all of the equipment is live. I've purchase 100Th of equipment and our current project is finishing the installation. The manufacturer even delivered AHEAD OF SCHEDULE which put extra pressure on getting everything together, but we are managing.

I've said it before, but thanks for the regular, drama-free revenues.

I am here to serve those who have supported me and I will continue to do so.
jamesg
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March 04, 2014, 02:52:39 PM
 #2520

James,

Speaking of Drama free revenues... got my weekly payment last night at 10:06 pm and as of this morning at 7:12 am still 0 confirmations.  Any ideas?

Naelr

Looks like the fee wasn't big enough. I'll rebroadcast the transaction if it isn't confirmed without another 24h.

Thanks for the heads up and I'll make sure the fee is increased going forward.

Best,
James
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