Gigamining / Teramining

[BurtW]

Are you really complaining about being overpaid?

No, I'm not.

Balance: 0.55209065
Sell order: 0.6

0.6 + 0.55 = 1.15.

I don't really know whether this sell order was made or not. There is no explanations. So I don't know anything. Is this payment the rounded up ~0'55BTC one? Is a payment for one sold bond? Is this a mistake? Is just one step in a longer payment process? Are they going to pay the rest of my coins?

Ah, there have been a lot of reports of rounding up so I expect that the 0.6 is your BTC and the sell order did not get executed.  You will not really know until the asset issuer get the information and you find out how many of each asset you have left.

In same boat.

[SysRun]

Shoot, I'll take an overpayment any day.

[jbreher]

The definition for each of these securities is either listed in the Act under A.R.S. Section 44-1801 or provided by judicial interpretations and tests.[8] In determining whether a certain instrument is a security, a court will consider the substance rather than the form of the instrument.[9] “Essentially, if the purchaser will be a passive owner―relying on someone else’s efforts or conduct in order to make money on the investment―the instrument is probably a security.”[10]

I think we are in the clear. Please note word in red in your quote above. If TPTB call BTC money, it would legitimize BTC to the masses. Big problems for TPTB would follow.

[Puppet]

The definition for each of these securities is either listed in the Act under A.R.S. Section 44-1801 or provided by judicial interpretations and tests.[8] In determining whether a certain instrument is a security, a court will consider the substance rather than the form of the instrument.[9] “Essentially, if the purchaser will be a passive owner―relying on someone else’s efforts or conduct in order to make money on the investment―the instrument is probably a security.”[10]

I think we are in the clear. Please note word in red in your quote above. If TPTB call BTC money, it would legitimize BTC to the masses. Big problems for TPTB would follow.

Nah, word games arent going to help I fear. What you quoted above is an interpretation of the law, its not the law. The actual law -which I also posted- doesnt even mention the word money. it uses the term "for value". No one would be able to argue bitcoins have no value, therefore, it you wouldnt be able to argue they are not securities.

If you would want to set something up that is similar to renting computing power that would not be a security, Giga would need at the very least, give control of the miners to the "bond" holder. Even then I doubt he would be able to make those bonds tradeable without turning them in to securities again.

[johnlu]

Hi gigavps,

did you receive any information about GLBSE users, who hold bond issued by you?

Thanks

[jamesg]

Hi gigavps,

did you receive any information about GLBSE users, who hold bond issued by you?

Thanks

I have not.

[salfter]

GLBSE has refunded some of my balance. It looks like about what I had left of BTC1.50 after buying two shares of GIGAMINING, but not including the two (?) weeks' worth of dividends. From their email:

Your GLBSE account has been partially processed. 90% of your funds have been returned to you with this payment. Once we recieve [sic] the remaining funds from our treasurer and secretary the final payment will be made and you will be informed. We will also inform you when we process your assets, allowing you to continue your relationship with your issuer.

[Otoh]

No dividends were paid for the last 2 weeks because GLBSE went tits up before they became due, when giga gets the holders info (number of GM units, email address & bitcoin address) they'll be sent & also hopefully some way to upgrade to tera as all of us still involved here need the chance to recoup some of our losses for backing giga's enterprise.

[theGECK]

Gotten the report of my BTC, but nothing about shares yet. Looking forward to getting this going - Gigamining is really the one I care the most about continuing with.

[occulta]

Your GLBSE account has been processed for bitcoin. The next step will be to send you information about your assets, and to provide this information to issuers (if you agreed) allowing you to continue your relationship with your issuers.

I had 0 btc in my account so meh

After all the flame wars on here, it looks like its being done the right way? i dont want to speak too soon, but if everything goes at its outlined then it should be business as usual.

To everyone saying 'i hope termining continues' i expect no less than this, we all purchased/traded these bonds based on this information, as soon as giga has the correct info from GLBSE i will be putting my upgrade money aside.

[BurtW]

Your GLBSE account has been processed for bitcoin. The next step will be to send you information about your assets, and to provide this information to issuers (if you agreed) allowing you to continue your relationship with your issuers.

I had 0 btc in my account so meh

After all the flame wars on here, it looks like its being done the right way? i dont want to speak too soon, but if everything goes at its outlined then it should be business as usual.

To everyone saying 'i hope termining continues' i expect no less than this, we all purchased/traded these bonds based on this information, as soon as giga has the correct info from GLBSE i will be putting my upgrade money aside.

But the entire Teramining idea was based upon using GLBSE which no longer exists.

Having said that I still hope we move forward on Teramining!

[HDSolar]

Mind if I ask probably a stupid question but with GLBSE gone why can Gigamining basically offer a privately held option that they ran through a secure website that they managed.  I know this will be a bigger level of effort that Gigamining may not want to take on but if it were me running the org I would just bite the bullet and setup a way to manage my individual investors in my operation so that we could all move forward.  I may be making this sound easier then what it is but when you set up a corporation you can follow the regulations to offer bonds and or stocks in your company to obtain funding and manage funds through those self held promissory notes.  Not saying you need to do that since bitcoin world is a little less formal but if a site were setup to manage users and funds in and out under Gigaminings control it sounds doable. 

Just an idea,

[EskimoBob]

There are actually multiple options available as of now and those are listed here: https://bitcointalk.org/index.php?topic=115825.0
Problem is, those available options like OT, asstest-otc and others can not help current share holders or  the issuer until there is a secure way of figuring out, who owns what and then transferring that data to new system and confirming, that nothing changed while data was transferred
This is actually a relatively trivial task.
Until GLBSE drags its feet, there is very little anyone can do.

[SysRun]

I received a confirmation email, but no BTC transferred. Have they gotten to you yet gigavps?

[edit] to clarify, glbse emailed me saying that my balance has been paid. I was only owed something trivial, so perhaps a processing fee ate my BTC? I really have no idea. I expected a transaction ID or specifics, but got neither.

I just hope that GLBSE passes along the correct information to GIGAMINING and everyone else who I have shares with.

[jamesg]

I received a confirmation email, but no BTC transferred. Have they gotten to you yet gigavps?

I received my coins back from GLBSE. I am starting to feel bad about this though hearing that so many others have not received their coins back.

[johnlu]

I wrote an email 2 days ago. No response.

[DeaDTerra]

I received a confirmation email, but no BTC transferred. Have they gotten to you yet gigavps?

I received my coins back from GLBSE. I am starting to feel bad about this though hearing that so many others have not received their coins back.

I think that James is going through it manually and that's why it's taking sometime.
I have received my payment from GLBSE and I am sure the rest will as well, sooner or later
//DeaDTerra

[jbreher]

I received my coins back from GLBSE. I am starting to feel bad about this though hearing that so many others have not received their coins back.

As I mentioned in the thread dedicated to the topic, I got coins back, but not the email. Did I get _all_ my coins? I don't know. Plausibly. But I had not logged onto GLBSE for several weeks. I know not what dividends I should have received in the interim.

So to bring things back on-topic -

I had been using the GLBSE listings to keep an eye on dividend payments. Is there another record of the GIGAMINING dividend payments?

[jamesg]

Is there another record of the GIGAMINING dividend payments?

http://gigamining.com/

[Naelr]

I was just the opposite, I got my coins back but not one single email ... even after I filled out the return form on GLBSE.

naelr