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Author Topic: Gigamining / Teramining  (Read 201523 times)
jamesg
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March 25, 2014, 08:25:26 PM
 #2541

Does this mean one gets paid 77.76 mBTC per contract?! I guess you mean that there would be 120 times the hash rate (potentially more) being paid for the future, right?

Right. More hashing power which equals more BTC compared to Gigamining.

Well, I definitely am fine with receiving BTC instead of signing contracts. Also until now there were 0 dividends paid, are these included in the 0.000648 BTC? Afaik there should be already a few hundred mBTC accumulated by now per 5 MH/s contract.

You would have first had to claim to receive anything, including the buyout offered.
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March 26, 2014, 04:30:12 AM
 #2542

How many Mh/s is one teramining share?
How many teramining shares for 1 gigamining share in free upgrade & paid upgrade?
Teraminging shares expires after 9 months?
Sofar, how many teramining shares expired?
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March 26, 2014, 02:26:36 PM
 #2543

How many Mh/s is one teramining share?

A single teramining contract was originally 9Mh/s.

When we started receiving BFL equipment and had received our full order, they were 12Mh/s.

When the antminer S1 100Th/s was installed, each teramining contract became 101Mh/s.

When the next 200Th/s shows up in April, each teramining contract will become ~275Mh/s.

How many teramining shares for 1 gigamining share in free upgrade & paid upgrade?

For the free upgrade, you get 4 Teramining contracts per Gigamining contract. So 5Mh/s turns into 1.10Gh/s or a 21,940% increase.

For the paid upgrade, you get 15 Teramining contract per Gigamining contract. So 5Mh/s turns into 4.125Gh/s or a 82,280% increase. If you take the paid upgrade, you are paying ~$35/Gh.

Please also note the above includes the yet to arrive 200Th/s. This purchase has been paid in full and is from a manufacturer with a proven track record of exceeding expectations.

Teraminging shares expires after 9 months?

I have made a promise to those who have stuck by me that Teramining would be profitable in BTC, and it will continue until I have fulfilled that promise. How long is that, I don't know.

Sofar, how many teramining shares expired?

0.
jamesg
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March 31, 2014, 02:08:49 PM
 #2544

As I've stated before, once Meni offered a buyback for puremining, I'd do the same.

This means that, for the 11 people still holding Gigamining contracts, I'll be sending the final payment of 0.648 mBTC per 5Mh/s contract.

If you are one of the final 11, you have two options:

1) Upgrade to Teramining and see your payment increase 120x not including the next 200Th/s to arrive.

2) Take the final payment.

You have till Monday.

Best,
James

10 people are still a part of Gigamining so I've emailed them with a proper notice about the buyback and will wait until 4/7 to send out the final buyback and close out the contracts.

In other news, we ran at 108.31% last week which makes today's Teramining payment the biggest since we received our last round of equipment.

Best,
James
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April 03, 2014, 06:04:13 AM
 #2545

Hi, thanks for the update James.

One thing I don't see, does the paid upgrade still cost 0.29 BTC / contract?

I'm pretty dumb about mining these days.  Is there someone more versed on the situation here who can comment on whether there is an option (payout vs. fee upgrade vs. paid upgrade) that is obviously more economically beneficial than the others?

Is this a good deal?

Thanks

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April 03, 2014, 12:51:13 PM
 #2546

Hi, thanks for the update James.

One thing I don't see, does the paid upgrade still cost 0.29 BTC / contract?

I'm pretty dumb about mining these days.  Is there someone more versed on the situation here who can comment on whether there is an option (payout vs. fee upgrade vs. paid upgrade) that is obviously more economically beneficial than the others?

Is this a good deal?

Thanks

Hi toffoo,

The paid upgrade is about 7x more expensive than buying equipment in hand. Please take the free upgrade path as this will not cost you anything and will still increase your 5Mh/s contracts substantially.

Best,
James
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April 03, 2014, 06:22:28 PM
 #2547

wait photos

For your enjoyment!



Much box.



Wrong plug.  Smiley



Super sexy 4u case with rack mounting brackets!



64 chips per board. 10 boards. Beaglebone powered.



Much power.



64 * 10 * 1.6Gh/s per chip == 1024Gh/s
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April 03, 2014, 06:23:04 PM
 #2548

Anyone who has the S2, can you confirm that they are rack mountable?  E.g., do they come with rack mounting tabs and/or pre-drilled mounting holes for standard racks?  or will they require a shelf?  Have 2 coming maybe tomorrow need to know!!



The come with rack mounting brackets. No rails.



They look right at home with their little bros.



Bitmain has once again come though with an awesome product that works exactly to spec and it came exactly when they said it would!

Bravo Bitmain! I couldn't be happier.
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April 04, 2014, 04:30:27 AM
 #2549





Buy a lambo recently?

1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
Sukrim
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April 04, 2014, 08:40:12 AM
 #2550

I don't know about your paranoia levels or what these keys unlock, but it is definitely possible to recreate keys from photos. Your picture might be a bit too grainy, but I'd recommend nevertheless NEVER to post pictures of physical keys on the internet, especially when they might unlock something that protects something of value.

That being said, I guess unless I send in the waiver + apostille, I don't get anything from the 4 Gigamining shares I still own to my Bitcoin + e-mail address from GLBSE, correct?

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April 04, 2014, 11:59:58 AM
 #2551

I don't know about your paranoia levels or what these keys unlock, but it is definitely possible to recreate keys from photos. Your picture might be a bit too grainy, but I'd recommend nevertheless NEVER to post pictures of physical keys on the internet, especially when they might unlock something that protects something of value.

That being said, I guess unless I send in the waiver + apostille, I don't get anything from the 4 Gigamining shares I still own to my Bitcoin + e-mail address from GLBSE, correct?
I think that is correct because every single person who has sent in the requested information has been paid and the remaining handful of people who have not sent in the requested documents have not been paid.  It is very hard to prove causality but there is a 100% correlation between sending in the documents and getting paid.

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!
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April 04, 2014, 12:14:26 PM
 #2552

No need for snarky remarks... Roll Eyes

This means that, for the 11 people still holding Gigamining contracts, I'll be sending the final payment of 0.648 mBTC per 5Mh/s contract.

I still hold Gigamining contracts...

Signed with my claim address (15CkwW6yr2V8mF4GXGjdt878LqdvMorJJn):

Code:
[quote author=gigavps link=topic=75802.msg5896722#msg5896722 date=1395771794]
This means that, for the 11 people still holding Gigamining contracts, I'll be sending the final payment of 0.648 mBTC per 5Mh/s contract.
[/quote]

I still hold Gigamining contracts...

HOh7lHYgGG+aupjbSwigvmsx9VLObrLqNbF/INbOmFX5sS7KYvbrBn/tBH5wo/oxAcrRd5ThCo0vKMJIYIYP63M=

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
kjlimo
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April 06, 2014, 06:37:19 PM
 #2553

How many Mh/s is one teramining share?

A single teramining contract was originally 9Mh/s.

When we started receiving BFL equipment and had received our full order, they were 12Mh/s.

When the antminer S1 100Th/s was installed, each teramining contract became 101Mh/s.

When the next 200Th/s shows up in April, each teramining contract will become ~275Mh/s.

How many teramining shares for 1 gigamining share in free upgrade & paid upgrade?

For the free upgrade, you get 4 Teramining contracts per Gigamining contract. So 5Mh/s turns into 1.10Gh/s or a 21,940% increase.

For the paid upgrade, you get 15 Teramining contract per Gigamining contract. So 5Mh/s turns into 4.125Gh/s or a 82,280% increase. If you take the paid upgrade, you are paying ~$35/Gh.

Please also note the above includes the yet to arrive 200Th/s. This purchase has been paid in full and is from a manufacturer with a proven track record of exceeding expectations.

Teraminging shares expires after 9 months?

I have made a promise to those who have stuck by me that Teramining would be profitable in BTC, and it will continue until I have fulfilled that promise. How long is that, I don't know.

Sofar, how many teramining shares expired?

0.

Perhaps my math is wrong (feel free to PM me with corrections), but here's what's gonna happen tomorrow:

You either get 0.000648 BTC per contract as a final payment, or

you upgrade to the free option and get roughly 0.0007 BTC per contract (which is 22k% increase in last week's payment rounded down).

So basically even if you only get one more payment, you'll be better off upgrading...

Hope this helps others make their decision.

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April 06, 2014, 08:43:23 PM
 #2554

James has been crystal clear about the fact that you must send in the requested documents before you will get anything.  If you have done that or do that you will get paid.  If you do not do that you will not get paid. 

This has been the situation since the downfall of GLBSE.  This is still the case, nothing has changed, and you know this.

So why all this message signing nonsense?

No need for snarky remarks... Roll Eyes

This means that, for the 11 people still holding Gigamining contracts, I'll be sending the final payment of 0.648 mBTC per 5Mh/s contract.

I still hold Gigamining contracts...

Signed with my claim address (15CkwW6yr2V8mF4GXGjdt878LqdvMorJJn):

This means that, for the 11 people still holding Gigamining contracts, I'll be sending the final payment of 0.648 mBTC per 5Mh/s contract.

I still hold Gigamining contracts...

HOh7lHYgGG+aupjbSwigvmsx9VLObrLqNbF/INbOmFX5sS7KYvbrBn/tBH5wo/oxAcrRd5ThCo0vKMJIYIYP63M=

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!
kjlimo
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April 06, 2014, 09:41:26 PM
 #2555

How many Mh/s is one teramining share?

A single teramining contract was originally 9Mh/s.

When we started receiving BFL equipment and had received our full order, they were 12Mh/s.

When the antminer S1 100Th/s was installed, each teramining contract became 101Mh/s.

When the next 200Th/s shows up in April, each teramining contract will become ~275Mh/s.

How many teramining shares for 1 gigamining share in free upgrade & paid upgrade?

For the free upgrade, you get 4 Teramining contracts per Gigamining contract. So 5Mh/s turns into 1.10Gh/s or a 21,940% increase.

For the paid upgrade, you get 15 Teramining contract per Gigamining contract. So 5Mh/s turns into 4.125Gh/s or a 82,280% increase. If you take the paid upgrade, you are paying ~$35/Gh.

Please also note the above includes the yet to arrive 200Th/s. This purchase has been paid in full and is from a manufacturer with a proven track record of exceeding expectations.

Teraminging shares expires after 9 months?

I have made a promise to those who have stuck by me that Teramining would be profitable in BTC, and it will continue until I have fulfilled that promise. How long is that, I don't know.

Sofar, how many teramining shares expired?

0.

Perhaps my math is wrong (feel free to PM me with corrections), but here's what's gonna happen tomorrow:

You either get 0.000648 BTC per contract as a final payment, or

you upgrade to the free option and get roughly 0.0007 BTC per contract (which is 22k% increase in last week's payment rounded down).

So basically even if you only get one more payment, you'll be better off upgrading...

Hope this helps others make their decision.

For reference, I won about the same amount as the final payment with just one freeroll at this site:

http://freebitco.in/?r=22874

Just thought that was funny... granted, I had to click roll, whereas the gigamining payouts show up without any effort at all Smiley

CampBX for buying BTCs, Coinbase for selling BTCs or Vircurex or Cryptsy for trading alternate cryptocurrencies like DOGEs

PM me with any questions on these sites!  Happy to help!

Bitcoin Poker at Seals                  Strike Sapphire Casino  Free games every hour & day!
  Get Free Bitcoins here.

Spondoolies-Tech or KnC Miner for the fastest mining hardware available!

Bitpay to help your business accept bitcoin payments!
jamesg
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April 07, 2014, 02:38:58 PM
 #2556

Teramining ran at 47.41% last week due to the Eligius payout queue being borked. You can see they are still holding ~38 BTC from last week.

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

Unless things change soon with the payout system, we will probably be moving onto greener pastures.

As you can see from the quoted posts above, we have received our first Antminer S2. More are coming soon.

Edit:

7 people decided to take the final Gigamining payment which was made earlier today. Now back to growing Teramining.
jamesg
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April 14, 2014, 02:04:40 PM
 #2557

Teramining ran at 127.83% and we've recovered most of the coins held over from last week. Eligius' poor performance over the last month has negatively effected earnings though, so I've moved off of that pool until we see some back shares getting paid.

Bulk of the 200Th should be arriving later this week (Thursday and Friday). Needless to say, we'll be busy dropping more hash rate on the network.  Smiley
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April 21, 2014, 03:00:17 PM
 #2558

Teramining ran at 107.80% for the last week.

Shipping snafus have delayed delivery of our packages until today and tomorrow. Leaving for the DC shortly.
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April 21, 2014, 11:43:42 PM
 #2559

We installed 62Th/s in 8 hours.  Shocked

Hopefully more shows up tomorrow.  Smiley
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April 23, 2014, 06:56:01 AM
 #2560

Rest of the miners showed up today (well, yesterday now....) and we put up another 100Th/s with another 40Th/s to go tomorrow.
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