Gigamining / Teramining

[johnlu]

gigavps, what do you mean on "partial"? Do you mean that this first payment is not completed?

partial means that VPS does not have all of it's ordered delivered.

So whatever asic equipment is running is what is used for Teramining.

Is there any place where we can see how many GH/s you got running?

[1714033203]

1714033203

[1714033203]

1714033203

[jamesg]

Is there any place where we can see how many GH/s you got running?

Teramining / VPS has received exactly 1 jalapeno so far.....

And as I have stated before, the 9 month period of the Teramining contract will not start until all equipment has arrived.

I know this is a slow start but it is a start. And it also confirms that BFL has a working product and are resolving their outstanding issues with getting more equipment out the door.

[occulta]

As soon as everything is tied up, Teraminers will be sent an update.

woo!

But seriously when you first offered the new contract, and some of us jumped on the idea, the trading price for a contract was 1.4BTC and alot of us bought in. Please take this into consideration when deciding how to move forward with this.

Please pull through here

[Otoh]

When Teramining was announced & because of this I bought an extra 979 shares @ 1.3635 btc each on 2012 07 10.

BFL update: http://www.reddit.com/r/Bitcoin/comments/1dubwh/new_update_for_bfl_they_got_the_new_boards_and/

[smaynard]

Teramining / VPS has received exactly 1 jalapeno so far.....

And as I have stated before, the 9 month period of the Teramining contract will not start until all equipment has arrived.

I know this is a slow start but it is a start. And it also confirms that BFL has a working product and are resolving their outstanding issues with getting more equipment out the door.

Any plans for a partial payment on Teramining today?

[jamesg]

Any plans for a partial payment on Teramining today?

Payments went out later than normal today but have been sent. Apologies for the delay as I was traveling most of the day.

[smaynard]

Any plans for a partial payment on Teramining today?

Payments went out later than normal today but have been sent. Apologies for the delay as I was traveling most of the day.

No problem - Thanks!

[ironcross360]

Have a question, What would be the approx profit if I put in 1btc? or .3btc?

[boonies4u]

Have a question, What would be the approx profit if I put in 1btc? or .3btc?

Gigamining/Terramining bonds/contracts are are not for sale.

[TiuraZ]

Have a question, What would be the approx profit if I put in 1btc? or .3btc?

Gigamining/Terramining bonds/contracts are are not for sale.

Yes, because that would be illecal. Like the keeping our Gigamining bonds and not paying dividents would not be.

[EskimoBob]

Have a question, What would be the approx profit if I put in 1btc? or .3btc?

Gigamining/Terramining bonds/contracts are are not for sale.

This is good news for those, who still have their coin but have not understood why mining "bonds" (especially perpetual and hashing speed related) are really bad investment for the bond holder aka YOU (and not for the guy who got the rig for free - bought with bondholders money).
There are multiple threads about mining "perpetual mining bonds" aka "turds", so I am not going in to details here.  
If mining bond turd is Mh, Gh or Th based, you will get screwed when difficulty rises. You earn less and less income, "bond" price will keep falling so you also lose your principal. If this crap is "perpetual", the issuer has no obligation to buy back the bonds any time soon so you have no guarantee of getting back any of your invested coin.
Confused? Read up on what bonds actually are and why owning equity is different form owning debt.

PS! If calculations like 1-0.001+0.0001 give you a nose bleeds, you need to leave this subforum. FAST!

[boonies4u]

Have a question, What would be the approx profit if I put in 1btc? or .3btc?

Gigamining/Terramining bonds/contracts are are not for sale.

This is good news for those, who still have their coin but have not understood why mining "bonds" (especially perpetual and hashing speed related) are really bad investment for the bond holder aka YOU (and not for the guy who got the rig for free - bought with bondholders money).
There are multiple threads about mining "perpetual mining bonds" aka "turds", so I am not going in to details here.  
If mining bond turd is Mh, Gh or Th based, you will get screwed when difficulty rises. You earn less and less income, "bond" price will keep falling so you also lose your principal. If this crap is "perpetual", the issuer has no obligation to buy back the bonds any time soon so you have no guarantee of getting back any of your invested coin.
Confused? Read up on what bonds actually are and why owning equity is different form owning debt.

PS! If calculations like 1-0.001+0.0001 give you a nose bleeds, you need to leave this subforum. FAST!

As I have said before, just as in buying mining hardware for mining, reinvestment is required to maintain gains. The problem with Terramining (as opposed to perpetual/traded turds) is that you cannot reinvest by buying shares from Giga or anyone. once Terramining is in full swing each week/months/etc... dividend will go down. No matter how much money you want to throw at Giga or people with bonds/contracts your dividends will drop and Terramining will end.

[Psino]

Have a question, What would be the approx profit if I put in 1btc? or .3btc?

Gigamining/Terramining bonds/contracts are are not for sale.

Yes, because that would be illecal. Like the keeping our Gigamining bonds and not paying dividents would not be.

This is a good point. How could seizing our shares and denying contracted services be legal in the least? Certainly it's not "more" legal than anything in the original contract. If the original contract violated any laws, then Mr. Gibson (not Nefario) has already violated them with the contract.

This apparent reappropriation seems like criminal fraud.

[jamesg]

This is a good point. How could seizing our shares and denying contracted services be legal in the least? Certainly it's not "more" legal than anything in the original contract. If the original contract violated any laws, then Mr. Gibson (not Nefario) has already violated them with the contract.

This apparent reappropriation seems like criminal fraud.

There is no "reappropriation".

US Law trumps any contract. The only way to keep Gigamining / Teramining going is to do what has been done. Otherwise, no one would be paid back payments or be allowed to continue.

Over 80% of all contracts have been claimed so you are now in the minority when it comes to who has taken the time to work with me.

If you have not claimed, please take the time to do so immediately.

[Sukrim]

It costs me money, not time to claim shares which is the real issue here - I pay about the same if not more than I'd get in BTC from the shares but bear a serious risk of having my identity stolen by some shady US law firm/"lawyer" that is not even listed on the page and that still hasn't givben any proof of even being licensed or to exist other than a mail address.

If I get reimbursed for the costs that I have to bear to have YOU continue legally what you are doing and if I get better information where my personal information ends up, that might change.

Edit:
I'm sure there is NO real "law" regarding this that is 100% definitive how to handle this situation, only the interpretation/advice of your lawyer. Others (including judges) might have other interpretations.

[jamesg]

It costs me money

Do you have a US Embassy close by?

I pay about the same if not more than I'd get in BTC

This is quite a shortsighted view, especially if you believe in bitcoin and its potential.

US law firm/"lawyer"

I have explained how Quentin works with the Fleites Law Firm. There is no need to go into this again.

If I get reimbursed for the costs that I have to bear to have YOU continue legally what you are doing and if I get better information where my personal information ends up, that might change.

I have spent close to $20k to make sure we ALL can continue.

[Sukrim]

It costs me money

Do you have a US Embassy close by?

~2.5 to 3h train ride one way that costs ~20 USD converted (again one way) if I get a cheap ticket. Depending on definiton of "close" that might be closer than for others but still quite far.

I pay about the same if not more than I'd get in BTC

This is quite a shortsighted view, especially if you believe in bitcoin and its potential.

I could get more BTC than I'd get from your contract if I invest the train ticket/gas money, notary costs + time invested directly into BTC than getting the ones back you hold. Investing into mining actually means shorting BTC, there is a good explanation on this forum somewhere.

If I get reimbursed for the costs that I have to bear to have YOU continue legally what you are doing and if I get better information where my personal information ends up, that might change.

I have spent close to $20k to make sure we ALL can continue.

So the ~100 USD it would cost per share holder to reimburse them is too much? Also so far there is no "we" as my funds are still held hostage even though you know exactly where to send them.

[lame.duck]

There is no "reappropriation".

So, what happens with the unclaimed shares?

US Law trumps any contract. The only way to keep Gigamining / Teramining going is to do what has been done. Otherwise, no one would be paid back payments or be allowed to continue.

Pacta sunt servanda

and there was no clause stating  that  shareholder has to pay for cost of some sort of legal papers. So its your part to pay for the cost. Its your fault that as a serious business man did not asked your lawyer  for the regulations.

I have spent close to $20k to make sure we ALL can continue.

No, you spend $20k to pay for something that is YOUR problem. If you did not check for legal needs before issuing the bonds thats your fault. So you are two options reverse the contract by repaying the original price or paying your debt.

[jamesg]

There is no "reappropriation".

So, what happens with the unclaimed shares?

US Law trumps any contract. The only way to keep Gigamining / Teramining going is to do what has been done. Otherwise, no one would be paid back payments or be allowed to continue.

Pacta sunt servanda

and there was no clause stating  that  shareholder has to pay for cost of some sort of legal papers. So its your part to pay for the cost. Its your fault that as a serious business man did not asked your lawyer  for the regulations.

I have spent close to $20k to make sure we ALL can continue.

No, you spend $20k to pay for something that is YOUR problem. If you did not check for legal needs before issuing the bonds thats your fault. So you are two options reverse the contract by repaying the original price or paying your debt.

You can assign blame all day long. If you want to blame me for everything, I'm OK with that.

The fact remains that we are all in this together.

[TiuraZ]

There is no "reappropriation".

So, what happens with the unclaimed shares?

US Law trumps any contract. The only way to keep Gigamining / Teramining going is to do what has been done. Otherwise, no one would be paid back payments or be allowed to continue.

Pacta sunt servanda

and there was no clause stating  that  shareholder has to pay for cost of some sort of legal papers. So its your part to pay for the cost. Its your fault that as a serious business man did not asked your lawyer  for the regulations.

I have spent close to $20k to make sure we ALL can continue.

No, you spend $20k to pay for something that is YOUR problem. If you did not check for legal needs before issuing the bonds thats your fault. So you are two options reverse the contract by repaying the original price or paying your debt.

You can assign blame all day long. If you want to blame me for everything, I'm OK with that.

The fact remains that we are all in this together.

Of course you're okay with that. You have our money.

Also, have you anywhere in this thread answered to that first question: "So, what happens with the unclaimed shares?"