Bitcoin Forum
March 28, 2024, 09:07:40 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: ...
. - 0 (0%)
.. - 0 (0%)
Total Voters: 0

Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 [15] 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ... 130 »
  Print  
Author Topic: Gigamining / Teramining  (Read 216379 times)
copumpkin
Donator
Sr. Member
*
Offline Offline

Activity: 266
Merit: 252


I'm actually a pineapple


View Profile
June 11, 2012, 05:37:26 AM
 #281

Wasn't one bond bought for 10 BTC at the IPO?

Yep, it's still fucking up the price chart (to the point of making it useless) on GLBSE Smiley
1711660060
Hero Member
*
Offline Offline

Posts: 1711660060

View Profile Personal Message (Offline)

Ignore
1711660060
Reply with quote  #2

1711660060
Report to moderator
1711660060
Hero Member
*
Offline Offline

Posts: 1711660060

View Profile Personal Message (Offline)

Ignore
1711660060
Reply with quote  #2

1711660060
Report to moderator
1711660060
Hero Member
*
Offline Offline

Posts: 1711660060

View Profile Personal Message (Offline)

Ignore
1711660060
Reply with quote  #2

1711660060
Report to moderator
According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
friedcat
Donator
Legendary
*
Offline Offline

Activity: 848
Merit: 1005



View Profile
June 11, 2012, 05:55:33 AM
 #282

It is a great deal for Giga, that's for sure.  Buy hashes at $.60/MH (mini-rig and GPU) and sell bonds against it at $1.00-1.50/MH.  Makes for one hell of a profit margin.  Easy to finance expansion this way as well. 

It is a great deal for the buyers too. Because all mining bonds, including Giga's, still have a better return rate than most of the mining stocks. Of course, the shareholders of mining stocks "own" the hardware, but as far as I know only Inaba's BFLS allow the shareholders to trade the shares for the actual hardware, in other companies the concept of "ownership" makes sense only when bankrupting and liquidation.

And consider the difference between liquidation of mining companies and calling back of mining bonds, you couldn't easily conclude that selling used hardware will always result in more Bitcoins than calling back at 105%-120% of the market price. Indeed, the rise of Bitcoin price will make the market price of mining bonds against BTC lower, but it will also make the BTC price of selling old hardware lower. Hardware improvement (GPU -> FPGA -> ASIC) will drive the difficulty up, lowering the yield and the price of mining bonds, but it will also make old hardware more useless, harder to sell, and cheaper.

sunnankar
Legendary
*
Offline Offline

Activity: 1031
Merit: 1000



View Profile WWW
June 11, 2012, 09:10:48 AM
 #283

Well considering the second bonds were sold at 1.50.  It sounds like a deal. There are funds being publicly traded on the GLBSE that bought in around that price point.

What difference does it make what other people paid? Really, monkey see monkey do?

You haven't done a discounted future cash flow based on difficulty and exchange rate pro-formas?

Too bad we can't short on GLBSE....

chunglam
Donator
Full Member
*
Offline Offline

Activity: 229
Merit: 106



View Profile
June 11, 2012, 11:54:16 AM
 #284

This week's dividend? 110% PPS?
ciuciu
Donator
Hero Member
*
Offline Offline

Activity: 588
Merit: 500


View Profile
June 11, 2012, 01:42:51 PM
 #285

It does matter at what price the last bonds were sold.
If somebody bought the bonds very cheap, they can flood the market at any time and the bond will lose again a lot of value.

Well considering the second bonds were sold at 1.50.  It sounds like a deal. There are funds being publicly traded on the GLBSE that bought in around that price point.

What difference does it make what other people paid? Really, monkey see monkey do?

You haven't done a discounted future cash flow based on difficulty and exchange rate pro-formas?

Too bad we can't short on GLBSE....

jamesg (OP)
VIP
Legendary
*
Offline Offline

Activity: 1358
Merit: 1000


AKA: gigavps


View Profile
June 11, 2012, 02:36:17 PM
 #286

It does matter at what price the last bonds were sold.
If somebody bought the bonds very cheap, they can flood the market at any time and the bond will lose again a lot of value.

Gigamining was originally sold at 1 BTC each.
redbeans2012
Hero Member
*****
Offline Offline

Activity: 887
Merit: 1000


View Profile
June 11, 2012, 02:43:27 PM
 #287

It does matter at what price the last bonds were sold.
If somebody bought the bonds very cheap, they can flood the market at any time and the bond will lose again a lot of value.

Gigamining was originally sold at 1 BTC each.

Didn't you issue the next round of bonds for 1.50 though?

Did you sell this last round to private investors for 1 btc?  Doesn't seem too cool to do that but whatever I sold right before the price went down
jamesg (OP)
VIP
Legendary
*
Offline Offline

Activity: 1358
Merit: 1000


AKA: gigavps


View Profile
June 11, 2012, 02:52:19 PM
 #288

Didn't you issue the next round of bonds for 1.50 though?

Did you sell this last round to private investors for 1 btc?  Doesn't seem too cool to do that but whatever I sold right before the price went down

The last round was sold to private investors. Usually when their are bulk purchases (greater than 1k bonds) buyers usually insist on slight discounts to the current price.
ciuciu
Donator
Hero Member
*
Offline Offline

Activity: 588
Merit: 500


View Profile
June 11, 2012, 02:59:54 PM
 #289

You have to disclose this information. Or to keep the matters separately.

Didn't you issue the next round of bonds for 1.50 though?

Did you sell this last round to private investors for 1 btc?  Doesn't seem too cool to do that but whatever I sold right before the price went down

The last round was sold to private investors. Usually when their are bulk purchases (greater than 1k bonds) buyers usually insist on slight discounts to the current price.

redbeans2012
Hero Member
*****
Offline Offline

Activity: 887
Merit: 1000


View Profile
June 11, 2012, 03:18:06 PM
 #290

For all we know the investor could be you or a buddy from high school.  I'm not saying that's the case but I guess that's the free market.  Just would have been nice to somehow protect your public investors or warn them before these cheaper bonds flood the market or at least let them know what price they went for.   I'm not a business man so maybe I don't understand how this works. 
brendio
Hero Member
*****
Offline Offline

Activity: 518
Merit: 500



View Profile
June 11, 2012, 03:34:00 PM
 #291

Complaining about the "last" price (or assuming it means anything) is stupid in a shallow market, as is often the case on GLBSE. Nobody wants to leave large quantities of bitcoins in GLBSE to keep open bids on there, so there's never any bid depth. It took 24 shares sold to go from 1.34 to 1.01. The degree of panic I see about this just reveals how little people understand about markets around here.

If we want to fix it, we need GLBSE to provide more incentives to people to be market makers, especially on the bid side. Otherwise, why would I keep my bitcoins locked up in GLBSE when I could be making loads of money with it elsewhere?
Working on a (partial?) solution to this. Details in a new thread soon.

JWU42
Legendary
*
Offline Offline

Activity: 1666
Merit: 1000


View Profile
June 11, 2012, 03:46:58 PM
 #292

Coupon has been paid - giga missed mentioning it this morning...

Just FYI

pieppiep
Hero Member
*****
Offline Offline

Activity: 1596
Merit: 502


View Profile
June 11, 2012, 03:51:26 PM
 #293

You have to disclose this information. Or to keep the matters separately.

Didn't you issue the next round of bonds for 1.50 though?

Did you sell this last round to private investors for 1 btc?  Doesn't seem too cool to do that but whatever I sold right before the price went down

The last round was sold to private investors. Usually when their are bulk purchases (greater than 1k bonds) buyers usually insist on slight discounts to the current price.
Why? There is nothing about that in the contract.
jamesg (OP)
VIP
Legendary
*
Offline Offline

Activity: 1358
Merit: 1000


AKA: gigavps


View Profile
June 11, 2012, 04:11:43 PM
 #294

Coupon has been paid - giga missed mentioning it this morning...

Just FYI

Sorry guys, JWU42 is correct that the coupon payment has already gone out.
piotr_n
Legendary
*
Offline Offline

Activity: 2053
Merit: 1344


aka tonikt


View Profile WWW
June 11, 2012, 04:12:35 PM
 #295

If I understand what is going on here - please correct me if I'm wrong:
GIGAMINING recently sold 13500 new shares to someone, under the counter, at the price below 1.0 and the new "investor" have decided to make some quick profit by dumping a few thousands of his shares onto the market - right?
Well... that's great - knowing that makes me really happy for buying my GIGAMINING shares at ~1.45. Now I know that you really take a good care about all your small investors and their interest Smiley

Check out gocoin - my original project of full bitcoin node & cold wallet written in Go.
PGP fingerprint: AB9E A551 E262 A87A 13BB  9059 1BE7 B545 CDF3 FD0E
ciuciu
Donator
Hero Member
*
Offline Offline

Activity: 588
Merit: 500


View Profile
June 11, 2012, 04:15:16 PM
 #296

This is true. But it will kill the confidence in all mining bonds.
Let's see how the market will react.

You have to disclose this information. Or to keep the matters separately.

Didn't you issue the next round of bonds for 1.50 though?

Did you sell this last round to private investors for 1 btc?  Doesn't seem too cool to do that but whatever I sold right before the price went down

The last round was sold to private investors. Usually when their are bulk purchases (greater than 1k bonds) buyers usually insist on slight discounts to the current price.
Why? There is nothing about that in the contract.

pieppiep
Hero Member
*****
Offline Offline

Activity: 1596
Merit: 502


View Profile
June 11, 2012, 04:33:43 PM
 #297

Again, why?
The bonds I have are still 5 Mhash/s.
To me it actually gives more confidence because it makes him a bigger player so he can do certain things more efficient than smaller players.
Sukrim
Legendary
*
Offline Offline

Activity: 2618
Merit: 1006


View Profile
June 11, 2012, 04:37:44 PM
 #298

I got my shares at something close to 1.50 and that was a good price. I don't want to earn a lot by daytrading anyways, as long as difficulty stays that low and gigavps is paying on time and the correct amounts, I see no reason to sell or panic currently.

https://www.coinlend.org <-- automated lending at various exchanges.
https://www.bitfinex.com <-- Trade BTC for other currencies and vice versa.
ciuciu
Donator
Hero Member
*
Offline Offline

Activity: 588
Merit: 500


View Profile
June 11, 2012, 04:39:17 PM
 #299

People do not buy only for the 5Mhash/s.
If it was like this, why the private investor wanted bonds? He could have paid Giga to mine for him and get the dividents without going the bonds route.



Again, why?
The bonds I have are still 5 Mhash/s.
To me it actually gives more confidence because it makes him a bigger player so he can do certain things more efficient than smaller players.

piotr_n
Legendary
*
Offline Offline

Activity: 2053
Merit: 1344


aka tonikt


View Profile WWW
June 11, 2012, 04:39:25 PM
 #300

Again, why?
The bonds I have are still 5 Mhash/s.
To me it actually gives more confidence because it makes him a bigger player so he can do certain things more efficient than smaller players.
If you are going to be holding them forever - then it indeed doesn't matter.
But some people buy the bonds, hold them for awhile, and then sell back - hopefully for at least a similar price as they paid.

So yes: he is a bigger player now.
But he became bigger by screwing up tens of small players from his own team.
And that is not nice - is it?

I understand that he wanted to grow, but he could have at least found an investor who would not be willing to profit from screwing the previous investors up.

Check out gocoin - my original project of full bitcoin node & cold wallet written in Go.
PGP fingerprint: AB9E A551 E262 A87A 13BB  9059 1BE7 B545 CDF3 FD0E
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 [15] 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ... 130 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!