Gigamining / Teramining

[jamesg]

To all Gigaminers:

The coupon payment for the week is out.

Enjoy,
gigavps

[1714017289]

1714017289

[1714017289]

1714017289

[1714017289]

1714017289

[bitcoiners]

It seems your argument is that because I make BTC doing this that I am somehow doing something wrong.

You have to admit there's kind of that vibe here on the forums.  I've notice that kind of reasoning in many other threads as well.  The whole, "No one should make money off of something other than me!"

It trips me out how dense some people are.

[Dice]

Hi, i noticed that as the difficulty increases the BTC / Bond decreases is there a direct relation to this or is there another factor involved?

[BTCurious]

Hi, i noticed that as the difficulty increases the BTC / Bond decreases is there a direct relation to this or is there another factor involved?

If Bitcoin is worth more, then more people will start mining, so one bond will give less Bitcoins. That's basically it.

[boonies4u]

Hi, i noticed that as the difficulty increases the BTC / Bond decreases is there a direct relation to this or is there another factor involved?

If Bitcoin is worth more, then more people will start mining, so one bond will give less Bitcoins. That's basically it.

Same could be said about cheap electricity prices.

[MrTeal]

Hi, i noticed that as the difficulty increases the BTC / Bond decreases is there a direct relation to this or is there another factor involved?

The weekly dividend is 35204/difficulty. If the difficulty changes say 2 days into a week, it would be 35204*((2/7)/difficulty1 + (5/7)/difficulty2). Simple as that, it should have nothing to do with the price of BTC, electricity or anything else.

[boonies4u]

Hi, i noticed that as the difficulty increases the BTC / Bond decreases is there a direct relation to this or is there another factor involved?

The weekly dividend is 35204/difficulty. If the difficulty changes say 2 days into a week, it would be 35204*((2/7)/difficulty1 + (5/7)/difficulty2). Simple as that, it should have nothing to do with the price of BTC, electricity or anything else.

Except the difficulty has something to do with the price of BTC and electricity. The more miners that mine profitably the more that do mine. Which in turn effects the difficulty.

[MrTeal]

Hi, i noticed that as the difficulty increases the BTC / Bond decreases is there a direct relation to this or is there another factor involved?

The weekly dividend is 35204/difficulty. If the difficulty changes say 2 days into a week, it would be 35204*((2/7)/difficulty1 + (5/7)/difficulty2). Simple as that, it should have nothing to do with the price of BTC, electricity or anything else.

Except the difficulty has something to do with the price of BTC and electricity. The more miners that mine profitably the more that do mine. Which in turn effects the difficulty.

He asked if there was a direct relationship between dividends and difficulty. There is, the dividend is simply a constant divided by the difficultly. No other factors enter into it. Various things might affect the difficulty, but that's not what he asked.

[jamesg]

To all Gigaminers:

The coupon payment for the week is out.

Enjoy,
gigavps

[nibor]

On the gigamine website I can see 96.2g/hash at http://gigamining.com/mgpumon/ and 17.6 ghash at http://wa.gigamining.com:81/mgpumon/.

Can we see the other 86.2 gHash anywhere?

Thanks

[jamesg]

On the gigamine website I can see 96.2g/hash at http://gigamining.com/mgpumon/ and 17.6 ghash at http://wa.gigamining.com:81/mgpumon/.

Can we see the other 86.2 gHash anywhere?

Thanks

There is more equipment hosted elsewhere, but does not have bamt installed so there are no nice monitoring pages.

[jamesg]

To all Gigaminers:

The coupon payment for the week is out.

Enjoy,
gigavps

[dishwara]

I know bitcoin difficulty changes every 2 weeks.
But why payment get reduced every week instead of 2 weeks once?

[jamesg]

I know bitcoin difficulty changes every 2 weeks.
But why payment get reduced every week instead of 2 weeks once?

Hi dishwara,

The simple answer is that the difficulty changes do not correspond to coupon payment periods.

When the difficulty goes up in a particular week, you get part of the week at the old diff and part of the week at the new diff. On the day that the difficulty changes, which ever difficulty is more favorable for bond holders is the diff they get for the entire day. So since difficulty has been going up, this usually means a smaller payment from the previous week.

Lately, the next week is at the new, higher difficulty for the full week so this payment would be small than the previous week when we have two different difficulties for the week.

You will also notice that when difficulty goes down, payments will increase each week.

Hope this helps.

Best,
gigavps

[novusordo]

As the price of Bitcoin has gone up significantly since the Teramining announcement, will the fee for exchanging Giga shares for Tera shares be lower than 0.25? If so how much would the fee be if, for instance, Bitcoin is at $11.5 when Teramining launches?

[jamesg]

As the price of Bitcoin has gone up significantly since the Teramining announcement, will the fee for exchanging Giga shares for Tera shares be lower than 0.25? If so how much would the fee be if, for instance, Bitcoin is at $11.5 when Teramining launches?

I have given this a lot of thought, and right now I am leaning towards the price staying at .25 BTC per bond. We'll see as the time gets closer, but expect to pay the .25 btc if you want to upgrade.

[novusordo]

Seems pure btc to me.  Bond is priced in btc, coupons are btc, upgrade is priced in btc.

It's a bitcoin economy.  Can I buy shares in direct barter for asparagus?

I did think it a bit odd when gigavps first mentioned that the fee could go down because of a change in exchange rate, but I figured I'd ask anyways.

[imsaguy]

Seems pure btc to me.  Bond is priced in btc, coupons are btc, upgrade is priced in btc.

It's a bitcoin economy.  Can I buy shares in direct barter for asparagus?

I did think it a bit odd when gigavps first mentioned that the fee could go down because of a change in exchange rate, but I figured I'd ask anyways.

Except BFL doesn't denominate their gear in btc, they denominate it in USD.  Bitcoin is nothing more than a Visa, just a means to transmit USD.

[jamesg]

To all Gigaminers:

The coupon payment for the week is out.

Enjoy,
gigavps

[ianspain]

Giga, any news on when the update will be done?

I have registered my intentions to upgrade but at the moment I'm purchasing more shares, so please tell me how this will move forward.

thanks
ian