Gigamining / Teramining

[smaynard]

BFL ASIC updates summary, looks like March for delivery now ~ all being well.

https://forums.butterflylabs.com/blogs/polrpaul/88-anyone-seen-my-chips.html

James,

Based on the aforementioned, would you consider paying gigamining dividends through March 4th to those who have already surrendered their bonds for teramining?

I realize we could have / should have waited to upgrade - just asking...

[Lucidize]

Finally got my VPS account activated

I have encountered one problem that I wasn't expecting though, regarding the upgrade.

I would like to use just a portion of my past divs to convert to teramining, and the remaining I wish to do a free upgrade.
It seems I am only able to do an all or nothing conversion?

[jamesg]

Final request for claims

https://www.virtualprocessingsolutions.com/claims

VPS will keep the claims process open for another three months through May 23, 2013.

To the bitcoin/gigamining community:

Virtual Processing Solutions, LLC (hereinafter VPS) has entered into a number of assignable agreements (sometimes known as “gigamining”), whereby, among its other provisions, in exchange for financial consideration, VPS agreed to conduct electronic data processing services and provide some portion of the outcome of this processing in the form of “bitcoins” to the current beneficial assignees of these agreements.  

These agreements were offered and subsequently traded on www.glbse.com.  As you may be aware, www.glbse.com has suspended normal operations.  It is the intention of VPS to comply with its obligations pursuant to these agreements to the extent consistent with U.S., international, and local law.  While VPS is not aware of any current regulatory action involving www.glbse.com or itself, it is clear that trade in “bitcoins” is attracting increased regulatory and taxation scrutiny.  Accordingly, VPS has retained the Law Offices of Carlos M. Fleites, to resolve such outstanding agreements in a lawful manner.

If you believe you are the beneficial assignee of such an agreement, you are requested to contact the Law Offices of Carlos M. Fleites in writing at the below listed e-mail or physical address to provide the following information:

• The bitcoin payment address associated with your glbse.com claim
• Name of the person or entity claiming beneficial assignment of the agreement,
• The physical address of the person or entity (no Post Office boxes or mail suites),
• The tax identification number of the person or entity claiming beneficial assignment,
• For real persons: a photocopy or scanned PDF of government issued photo identification, or, for corporations the document number and issuing jurisdiction of the incorporating charter and proof of current good standing.
• An affidavit attesting to the beneficial assignment of the agreement, which has been notarized (US residents/corporations) or local equivalent bearing the apostille of the competent jurisdiction.  Copies of an acceptable affidavit can be obtained upon request from the law offices.

All information provided will be held in confidence and used only for the purposes of lawfully fulfilling the obligations of the agreements and not shared with outside parties except as required by law.  If you have any questions or concerns, please address these to the law offices at the following e-mail or mailing address.

qpage@mylawyr.com

or

Law Offices of Carlos M. Fleites, ATTN: Quentin A. Page
407 Lincoln Road, Suite 12-E
Miami Beach, FL 33139
USA

Finally, since no unique identification exists for outstanding agreements, ALL CURRENT BENEFICIAL ASSIGNEES ARE STRONGLY ADVISED NOT TO ENGAGE IN ANY TRANSFER, SALE, OR ASSIGNMENT OF THESE AGREEMENTS OUTSIDE OF GLBSE, AS IT MAY RENDER IT IMPOSSIBLE TO VERIFY AND SERVICE SUCH AGREEMENTS.

Thank you for your prompt attention in this matter.

[PsychoticBoy]

Final request for claims

https://www.virtualprocessingsolutions.com/claims

VPS will keep the claims process open for another three months through May 23, 2013.

To the bitcoin/gigamining community:

Virtual Processing Solutions, LLC (hereinafter VPS) has entered into a number of assignable agreements (sometimes known as “gigamining”), whereby, among its other provisions, in exchange for financial consideration, VPS agreed to conduct electronic data processing services and provide some portion of the outcome of this processing in the form of “bitcoins” to the current beneficial assignees of these agreements. 

These agreements were offered and subsequently traded on www.glbse.com.  As you may be aware, www.glbse.com has suspended normal operations.  It is the intention of VPS to comply with its obligations pursuant to these agreements to the extent consistent with U.S., international, and local law.  While VPS is not aware of any current regulatory action involving www.glbse.com or itself, it is clear that trade in “bitcoins” is attracting increased regulatory and taxation scrutiny.  Accordingly, VPS has retained the Law Offices of Carlos M. Fleites, to resolve such outstanding agreements in a lawful manner.

If you believe you are the beneficial assignee of such an agreement, you are requested to contact the Law Offices of Carlos M. Fleites in writing at the below listed e-mail or physical address to provide the following information:

• The bitcoin payment address associated with your glbse.com claim
• Name of the person or entity claiming beneficial assignment of the agreement,
• The physical address of the person or entity (no Post Office boxes or mail suites),
• The tax identification number of the person or entity claiming beneficial assignment,
• For real persons: a photocopy or scanned PDF of government issued photo identification, or, for corporations the document number and issuing jurisdiction of the incorporating charter and proof of current good standing.
• An affidavit attesting to the beneficial assignment of the agreement, which has been notarized (US residents/corporations) or local equivalent bearing the apostille of the competent jurisdiction.  Copies of an acceptable affidavit can be obtained upon request from the law offices.

All information provided will be held in confidence and used only for the purposes of lawfully fulfilling the obligations of the agreements and not shared with outside parties except as required by law.  If you have any questions or concerns, please address these to the law offices at the following e-mail or mailing address.

qpage@mylawyr.com

or

Law Offices of Carlos M. Fleites, ATTN: Quentin A. Page
407 Lincoln Road, Suite 12-E
Miami Beach, FL 33139
USA

Finally, since no unique identification exists for outstanding agreements, ALL CURRENT BENEFICIAL ASSIGNEES ARE STRONGLY ADVISED NOT TO ENGAGE IN ANY TRANSFER, SALE, OR ASSIGNMENT OF THESE AGREEMENTS OUTSIDE OF GLBSE, AS IT MAY RENDER IT IMPOSSIBLE TO VERIFY AND SERVICE SUCH AGREEMENTS.

Thank you for your prompt attention in this matter.

What will happen to the shares that are not claimed by then?
Do they recieve any buyback to the bitcoinaddresses they provided to GLBSE to claim their accounts?
You know who owns what and with what bitcoinaddress, lets say a buyback/ last dividend for the unclaimed shares, sounds fair doesn`t it.

[boonies4u]

Final request for claims

https://www.virtualprocessingsolutions.com/claims

VPS will keep the claims process open for another three months through May 23, 2013.

To the bitcoin/gigamining community:

Virtual Processing Solutions, LLC (hereinafter VPS) has entered into a number of assignable agreements (sometimes known as “gigamining”), whereby, among its other provisions, in exchange for financial consideration, VPS agreed to conduct electronic data processing services and provide some portion of the outcome of this processing in the form of “bitcoins” to the current beneficial assignees of these agreements. 

These agreements were offered and subsequently traded on www.glbse.com.  As you may be aware, www.glbse.com has suspended normal operations.  It is the intention of VPS to comply with its obligations pursuant to these agreements to the extent consistent with U.S., international, and local law.  While VPS is not aware of any current regulatory action involving www.glbse.com or itself, it is clear that trade in “bitcoins” is attracting increased regulatory and taxation scrutiny.  Accordingly, VPS has retained the Law Offices of Carlos M. Fleites, to resolve such outstanding agreements in a lawful manner.

If you believe you are the beneficial assignee of such an agreement, you are requested to contact the Law Offices of Carlos M. Fleites in writing at the below listed e-mail or physical address to provide the following information:

• The bitcoin payment address associated with your glbse.com claim
• Name of the person or entity claiming beneficial assignment of the agreement,
• The physical address of the person or entity (no Post Office boxes or mail suites),
• The tax identification number of the person or entity claiming beneficial assignment,
• For real persons: a photocopy or scanned PDF of government issued photo identification, or, for corporations the document number and issuing jurisdiction of the incorporating charter and proof of current good standing.
• An affidavit attesting to the beneficial assignment of the agreement, which has been notarized (US residents/corporations) or local equivalent bearing the apostille of the competent jurisdiction.  Copies of an acceptable affidavit can be obtained upon request from the law offices.

All information provided will be held in confidence and used only for the purposes of lawfully fulfilling the obligations of the agreements and not shared with outside parties except as required by law.  If you have any questions or concerns, please address these to the law offices at the following e-mail or mailing address.

qpage@mylawyr.com

or

Law Offices of Carlos M. Fleites, ATTN: Quentin A. Page
407 Lincoln Road, Suite 12-E
Miami Beach, FL 33139
USA

Finally, since no unique identification exists for outstanding agreements, ALL CURRENT BENEFICIAL ASSIGNEES ARE STRONGLY ADVISED NOT TO ENGAGE IN ANY TRANSFER, SALE, OR ASSIGNMENT OF THESE AGREEMENTS OUTSIDE OF GLBSE, AS IT MAY RENDER IT IMPOSSIBLE TO VERIFY AND SERVICE SUCH AGREEMENTS.

Thank you for your prompt attention in this matter.

What will happen to the shares that are not claimed by then?
Do they recieve any buyback to the bitcoinaddresses they provided to GLBSE to claim their accounts?
You know who owns what and with what bitcoinaddress, lets say a buyback/ last dividend for the unclaimed shares, sounds fair doesn`t it.

I assume Giga will not be paying unidentified parties as this could attract "regulatory and taxation scrutiny".

[deeplink]

What will happen to the shares that are not claimed by then?
Do they recieve any buyback to the bitcoinaddresses they provided to GLBSE to claim their accounts?
You know who owns what and with what bitcoinaddress, lets say a buyback/ last dividend for the unclaimed shares, sounds fair doesn`t it.

It would be the first fair scam we've seen.

He offered you an unlawful contract (according to him and his lawyer) but is not willing to reverse it. It is a scam designed to keep your money. Best thing you can do imo is deal with your loss, never deal with this person again and move on. Or don't accept it and keep pointing it out to warn other users.

[camolist]

I assume Giga will not be paying unidentified parties as this could attract "regulatory and taxation scrutiny".

how about taking money in the first place from unidentified users?

what would a judge say to someone taking money then suddenly changing the rules and saying they need to jump through hoops to get what they paid for?

who wants to go in on a lawyer to take him down? demand would be original purchase price in btc of the bonds, payment for time wasted, and for our lawyer.


btw your supposed lawyer can't even answer emails so hope you have a better defense lawyer 

[deeplink]

It's a huge opportunity for someone to start a professional company to collectively go after cases like this one (pirate, bitcoinica, glbse, gigavps).

I'm sure the market will provide it eventually, because the way it is currently handled is not effective.

[boonies4u]

What will happen to the shares that are not claimed by then?
Do they recieve any buyback to the bitcoinaddresses they provided to GLBSE to claim their accounts?
You know who owns what and with what bitcoinaddress, lets say a buyback/ last dividend for the unclaimed shares, sounds fair doesn`t it.

It would be the first fair scam we've seen.

Best thing you can do imo is deal with your loss, never deal with this person again and move on.

If people could be paid for unclaimed bonds there would be no need for them to enter a claims process.

I assume Giga will not be paying unidentified parties as this could attract "regulatory and taxation scrutiny".

how about taking money in the first place from unidentified users?

what would a judge say to someone taking money then suddenly changing the rules and saying they need to jump through hoops to get what they paid for?

who wants to go in on a lawyer to take him down? demand would be original purchase price in btc of the bonds, payment for time wasted, and for our lawyer.


btw your supposed lawyer can't even answer emails so hope you have a better defense lawyer 

As long as VPS isn't a criminal or terrorist organization I believe that they can hold onto the dividends of unclaimed bonds until they are claimed and/or determined to be "Unclaimed Property" which seems to be until May 23, 2013.

A judge would realize that VPS is just trying to comply with "regulatory and taxation" laws and responsibilities. I assume VPS has all the necessary documentation to report the funds they earned from selling bonds and mining bitcoins. They have certain responsibilities and duties when it comes to receiving documentation on bond holders as well.

Why do you want to take Giga down? If you were to receive funds due to a court order or settlement you should expect to submit similar documentation to either the courts or the lawyer.

Was the comment about Quentin directed at me or Giga?

[SAC]

btw your supposed lawyer can't even answer emails so hope you have a better defense lawyer 

He has engaged a criminal defence law firm not a business/contractual one so that is his criminal lawyer. 

As long as VPS isn't a criminal or terrorist organization I believe that they can hold onto the dividends of unclaimed bonds until they are claimed and/or determined to be "Unclaimed Property" which seems to be until May 23, 2013.

A judge would realize that VPS is just trying to comply with "regulatory and taxation" laws and responsibilities. I assume VPS has all the necessary documentation to report the funds they earned from selling bonds and mining bitcoins. They have certain responsibilities and duties when it comes to receiving documentation on bond holders as well.

He has sold securities (a bond) without license a criminal offence that is why he has people committing perjury when claiming a supposed contract in the claim form when people originally purchased a bond. BTW people may want to contact the IRS to ensure he has indeed reported this income.

[camolist]

Was the comment about Quentin directed at me or Giga?

to Giga, guess i could have quoted that batter 



Giga you should have your lawyer contact me. otherwise i have to get a lawyer of my own and surely that's not where you want this going

He has sold securities (a bond) without license a criminal offence that is why he has people committing perjury when claiming a supposed contract in the claim form when people originally purchased a bond. BTW people may want to contact the IRS to ensure he has indeed reported this income.

THIS


i want your lawyer to explain it.

you have my email. tell him to get ahold of me. if a phone number works better please send a PM

[conspirosphere.tk]

It's a huge opportunity for someone to start a professional company to collectively go after cases like this one (pirate, bitcoinica, glbse, gigavps).

I would happily pay with a half of my Gigamining bonds to anyone who sue and/or indicts Giga (and the same for the issuers of Bitbond, Fpgamining, ...)

[jamesg]

If anyone has any questions about why there is a claims process at all, you can read about it at the link below.

https://bitcointalk.org/index.php?topic=127437.msg1378555#msg1378555

VPS has proven to pay those who claim.

I ask everyone who owns Gigamining to submit a claim.

Best,
James

[deeplink]

If anyone has any questions about why there is a claims process at all, you can read about it at the link below.

https://bitcointalk.org/index.php?topic=127437.msg1378555#msg1378555

VPS has proven to pay those who claim.

I ask everyone who owns Gigamining to submit a claim.

Best,
James

Instead of publishing enormous amounts of lawyer text, the point which you keep avoiding is that it should be possible to revert all payments if people do not want to accept your new conditions. The same situation has to be created as before they entered into your (alleged) illegal contract. We don't need a lawyer to know that is the only right thing to do and stealing isn't.

[randomguy7]

If anyone has any questions about why there is a claims process at all, you can read about it at the link below.

https://bitcointalk.org/index.php?topic=127437.msg1378555#msg1378555

VPS has proven to pay those who claim.

I ask everyone who owns Gigamining to submit a claim.

Best,
James

Instead of publishing enormous amounts of lawyer text, the point which you keep avoiding is that it should be possible to revert all payments if people do not want to accept your new conditions. The same situation has to be created as before they entered into your (alleged) illegal contract. We don't need a lawyer to know that is the only right thing to do and stealing isn't.

This.

[boonies4u]

the point which you keep avoiding is that it should be possible to revert all payments if people do not want to accept your new conditions.

Which payments? Payments made through GLBSE? or payments made to upgrade from Gigamining to Terramining?

[bixcoin]

Why the change of heart?

• I didn't do a good enough job of making sure Gigaminers knew the Gigamining contract would stop when upgrading.
• Those who have done what I ask should be rewarded for their effort in keeping Gigamining/Teramining going.
• A large portion of Gigamining has already been claimed.

I have also stated that anyone with a claim in and waiting on Quentin could be included.

So now we are talking about those, who after three months, have still not claimed. I can't force anyone to do anything, I can only reward those who help me.

So do I get this right that by your contract, early Teraminers get penalized by being excluded from their Gigamining Profits, while others that wait until you actually have received your equipment will gain Gigamining till that day and are then free to upgrade?

[BurtW]

No, he is rewarding those that upgraded early:

To all Gigaminers:

Some who have upgraded have not liked the fact that Gigamining payments have stopped. I understand the concern. So, with that said, any upgrades that happen before Friday 2/15/2013 11:59:59 UTC will be included in a special early group of Teraminers. These individuals will have their mining contracts started within hours of the VPS equipment being up and running. Any upgrades after that time will follow the letter of the contract as quoted below.

2.3    The Commencement Date for the initiation of data processing services contemplated hereunder shall be ten (10) business days following the receipt of specialized processing equipment from an outside vendor.

If you have a pending claim into Quentin and I know about it (you know who you are) and are verified you will be allowed to upgrade and be included within the early group of Teraminers.

If you have not claimed yet, please do.

Best,
James

[jamesg]

So do I get this right that by your contract, early Teraminers get penalized by being excluded from their Gigamining Profits, while others that wait until you actually have received your equipment will gain Gigamining till that day and are then free to upgrade?

No. Those who have turned in their Gigamining contracts before Feb 15th, 2013 will start mining with me as soon as I have the equipment up and running. Those who wait, will be able to upgrade but will follow the letter of the contract.

In essence, the bonuses for turning Gigamining in early is much greater than waiting as the most profitable time to mine with this new equipment is when it first turns on.

[deeplink]

the point which you keep avoiding is that it should be possible to revert all payments if people do not want to accept your new conditions.

Which payments? Payments made through GLBSE? or payments made to upgrade from Gigamining to Terramining?

People that do not want to accept the new conditions also do not want to upgrade to Terramining.

Which payments? ALL payments (price of shares minus dividends paid) have to be paid back.

For example, suppose I sell my old car to my car dealer and buy a new car from him. Then the car dealer calls me the next day and informs me that he cannot sell me the new car because he just found out about a law prohibiting him to sell it to me. What would you do? Give him back the new car and go home? Of course not, you would return the new car (Gigamining contract) but you wouldn't accept the car dealer to keep the money your paid or keep your old car (dividends).