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Author Topic: Gigamining / Teramining  (Read 201519 times)
Lumpy
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June 22, 2012, 01:38:47 AM
 #581

Gigaminers have put a lot of trust that I would help make them returns. I take this responsibility very seriously and do not want to leave anyone behind. I know it may be hard to see for some, but there multiple angles to look at here and not all of them include dollars, btc and cents.

Thanks for the reassurance.
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DILLIGAF
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June 22, 2012, 03:31:40 AM
 #582

  • DILLIGAF keepin at it, gotta admire his pit bull spirit


You wanted to get my attention well you got it and quite frankly looking at what was going on did not impress me to say the least.
GeoRW
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June 22, 2012, 04:54:27 AM
 #583

Don't expect gigavps going out of the mining business. He has higher aims ... >50% network hashrate  Grin
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June 22, 2012, 11:56:13 AM
 #584

There has been a lot of screaming and foaming about how those new and less power hungry FPGA's will not help bond holders at all.
If those waste only a fraction of power, the cost per Mh is lower and income must improve per Mh.

I think you dont understand the difference between a bond and a share.
The only thing affecting your bond value is difficulty (and, to some extend, price/difficulty). Any additional increase in hashrate at a given bitcoin price will result in increased difficulty, which will decrease your bonds returns and therefore value.  Whatever savings giga or anyone else may obtain from more efficient hardware is not passed to bondholders, its in fact the opposite, its detrimental to existing bond holders.

I stand corrected. Yes, those are just "bonds" hence faster and cheaper BTC mining has no effect on income of those, who helped gigavps to finance his farm upgrade.

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I think you dont understand the difference between a bond and a share.
Share? You probably mean 'stock' and we both know you are wrong Wink

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
sadpandatech
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June 23, 2012, 02:29:52 PM
 #585

Pirateat40 and I are the same person

Witnessed.

go run, tell it form the mountain

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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June 23, 2012, 07:10:52 PM
 #586

He made it clear we own no equipment only 5 mh/s per bond.  It would be nice asap to give us some idea what he is going to give us regarding sc, thus we can evaluate what the bonds are worth. He is under obligation to give us nothing.   Maybe you can ask BFL to give the existing mining stocks 2 weeks lead on the sc equipment.
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June 23, 2012, 08:15:26 PM
 #587

It's all about timing. I made good money when I sold all of my bonds the day BFL's ASIC was announced. Cheesy

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June 23, 2012, 08:48:12 PM
 #588

He made it clear we own no equipment only 5 mh/s per bond. ....

Bond? You mean bFRN. Because FRN are also called "floaters", lets start calling those perpetual bitcoin floaters as "Turd(s)".



While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
Greedi
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June 23, 2012, 08:52:49 PM
 #589

warehouse
91350.12 Mh/s, 5 nodes and 76 GPUs, 9 problems

LitecoinTalk - Sign up today!
Try out LTC-Aarade!
Buy Shares!
redbeans2012
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June 23, 2012, 09:11:05 PM
 #590

warehouse
91350.12 Mh/s, 5 nodes and 76 GPUs, 9 problems

Just sold my bonds too much uncertainty in this new era of mining. Smiley

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June 23, 2012, 09:54:08 PM
 #591

warehouse
91350.12 Mh/s, 5 nodes and 76 GPUs, 9 problems

Just sold my bonds too much uncertainty in this new era of mining. Smiley

Guys - the "problems" reported are simply due to mgpumon (the status app) registering temps that would be too low for a running GPU (<40 Deg C).

It isn't a problem at all - just trying to make the best of an application designed for GPU to work alongside FPGA.


GPG PubKey | THREEMA | OTC | HeatWare | 1JWU42QLGFESoQCC4iPzUDTRiC9nx5bi95
jamesg
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June 23, 2012, 10:49:02 PM
 #592

warehouse
91350.12 Mh/s, 5 nodes and 76 GPUs, 9 problems

I have updated the mgpumon config to not report low temps as issues in the farm.

I do provide these web pages in an attempt to provide transparency into gigaminings operations. If you would rather not see them, just let me know and I'll block the ports.
redbeans2012
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June 23, 2012, 10:53:01 PM
 #593

warehouse
91350.12 Mh/s, 5 nodes and 76 GPUs, 9 problems

Just sold my bonds too much uncertainty in this new era of mining. Smiley

Guys - the "problems" reported are simply due to mgpumon (the status app) registering temps that would be too low for a running GPU (<40 Deg C).

It isn't a problem at all - just trying to make the best of an application designed for GPU to work alongside FPGA.



Just to be clear, I wasn't talking about this issue, just the whole ball of wax, nothing against giga at all.

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June 24, 2012, 12:17:07 AM
 #594

If you would rather not see them, just let me know and I'll block the ports.

lul'd

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
jamesg
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June 24, 2012, 02:49:26 AM
 #595

I've put a poll up to gauge interest in TERAMINING.

Instead of me rattling off what I plan to do again, I would like to hear what interested parties think and hopefully gauge what interest their is in this idea.
DiabloD3
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June 24, 2012, 04:25:25 AM
 #596

Hey Giga, have you considered replacing Gigamining with a fixed dividend bond instead of per mh? It would go a long way to stabilize GLBSE's wild fluctuations, and clearly you can grow your farm fast enough to keep up.

bitcoiners
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June 24, 2012, 06:25:05 AM
 #597

The issue I have is that there are other bonds already offering a "free" upgrade.  I've already lost almost half of my original investment in Giga and now you want me to pay more?  Why should I keep this bond?
steelhouse
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June 24, 2012, 09:09:41 AM
 #598

I think you should give us 0.5 btc/share of sc equipment and 5 gh/s til then, November 1st.   Thus, we get 100mh/s per share, November 1st.  Maybe 200 mh/s.  But, make it quick I sold almost everything at massive losses.  If you remove equipment you are in violation of the bond.  Or maybe call in the bond now.
jamesg
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June 24, 2012, 11:22:09 AM
 #599

If you remove equipment you are in violation of the bond.

Hi steelhouse,

I have quoted the contract below. Please help me understand where you feel I would be in violation of the bond contract.

Thanks,
gigavps

Quote
The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of 5 MH/s, for as long as they hold the bond. Coupon payments are to be made on Monday for the previous 7 days of mining activity. The issuer can buy back the bond at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 360 hours.
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June 24, 2012, 11:35:01 AM
 #600

Hey Giga, have you considered replacing Gigamining with a fixed dividend bond instead of per mh?

Hi DiabloD3,

I have not. If I replaced the current mining bond with a fixed coupon payment, I would be taking on even more risk. For instance, there have been two MAJOR events this week / weekend that could have been a lot worse then they ended up being.

  • Most know that one of the mini rigs stopped working the first night. BFL quickly took this back and is burn-in testing it with gigamining details at their facilities.
  • The condenser motor for the HVAC system in FL "shat the bed" on Friday evening. This caused the DC to become fairly hot and everything needed to be shut down for 16 hours while the HVAC contractor came and fixed things. If I had not put systems and procedures in place before hand along with a commercial HVAC contractor account, this event could have caused multiple days of downtime since it happened on the weekend.


Gigamining came with a premium in price for exactly these reasons. I've take on the risk of running and managing the equipment along with all of the pitfalls that come along with it. This is why I decided to share the risk along with the profits.

Best,
gigavps
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