The Most Competitive Mining Bond - Synergy @ 25Gh/s [GLBSE]

[GeoRW]

you better put those mini rigs online as soon as possible before the next difficulty change. Looking at the yesterday's huge network hashrate increase I shorted all of my mining bonds (or better what I have left from last time shorting ).

Looks like a lot of hashing power coming online these days partly due to the BTC price increase and partly to all those ordered mini rigs and singles coming online finally.

[1714902749]

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[1714902749]

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[1714902749]

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[EskimoBob]

you better put those mini rigs online as soon as possible before the next difficulty change. Looking at the yesterday's huge network hashrate increase I shorted all of my mining bonds (or better what I have left from last time shorting ).

Looks like a lot of hashing power coming online these days partly due to the BTC price increase and partly to all those ordered mini rigs and singles coming online finally.

GeoRW, this is really nice of you to inform us all about you shorting the mining bonds. I guess it's your desperate attempt to manipulate the market and cause a panic, so you can recover your short sells. I hope you used margin for this and end up with a massive margin call on top of it.   

BTW, I can explain the sudden spike. I started up my Icicle Cluster and got it running @ 0.69 petafldrops. That was fun but I have to add some serious water piping to this monstrosity. I am going to take it down so you better start buying back your bonds.

PS! "Trust No One" as it's written under your icon  
 

[GeoRW]

you better put those mini rigs online as soon as possible before the next difficulty change. Looking at the yesterday's huge network hashrate increase I shorted all of my mining bonds (or better what I have left from last time shorting ).

Looks like a lot of hashing power coming online these days partly due to the BTC price increase and partly to all those ordered mini rigs and singles coming online finally.

GeoRW, this is really nice of you to inform us all about you shorting the mining bonds. I guess it's your desperate attempt to manipulate the market and cause a panic, so you can recover your short sells. I hope you used margin for this and end up with a massive margin call on top of it.   

BTW, I can explain the sudden spike. I started up my Icicle Cluster and got it running @ 0.69 petafldrops. That was fun but I have to add some serious water piping to this monstrosity. I am going to take it down so you better start buying back your bonds.

PS! "Trust No One" as it's written under your icon  
 

Don't panic people. Buy more! Nothing's gonna happen. And you Eskimo, don't play with your beast

[Garr255]

Coupons tomorrow -- grab some bonds!

[Garr255]

Coupons paid!

[Garr255]

Coupons have been paid!

I round the payments up, so you get a little more than 100% pps every week

http://miningsynergy.com/

[Garr255]

Because of personal circumstances, I need to pay coupons today. To compensate for this, I will include the earnings for the remainder of the week as usual, so you're getting the same coupon just a bit earlier

Cheers,
Garrett

[Garr255]

Coupons have been paid!

Total BTC: 70.999775
Per Share: 0.00289795

[Garr255]

The coupon payments for this week have eight confirmations going over to GLBSE and nothing has shown up yet... I just sent Nefario & GLBSE support messages.

[BinaryMage]

The coupon payments for this week have eight confirmations going over to GLBSE and nothing has shown up yet... I just sent Nefario & GLBSE support messages.

It can take more than eight confirmations, just be patient.

[Garr255]

The coupon payments for this week have eight confirmations going over to GLBSE and nothing has shown up yet... I just sent Nefario & GLBSE support messages.

It can take more than eight confirmations, just be patient.

Alright, I've never seen it take more than six.

[JWU42]

The coupon payments for this week have eight confirmations going over to GLBSE and nothing has shown up yet... I just sent Nefario & GLBSE support messages.

It can take more than eight confirmations, just be patient.

Alright, I've never seen it take more than six.

It has taken up to 10 for me before...

[Garr255]

Coupons have been paid!

Total BTC: 63.99988
Per Share: 0.00261224

Total mined to date: 1,314

[intel-core-i7]

hey Garr, how do you plan to cope with the rising overall difficulty and the coming of ASICS into the game ?

Will our dividends drop to 0 or what ?

[Garr255]

hey Garr, how do you plan to cope with the rising overall difficulty and the coming of ASICS into the game ?

Will our dividends drop to 0 or what ?

Whether we will make an upgrade is entirely decided by the underwriter. I believe he wants to see some BFL ASICs out in the wild before laying down tens of thousands more dollars. When we do offer and upgrade, it will likely be similar to GigaMining's.

[intel-core-i7]

" it will likely be similar to GigaMining's."  - which is ? Give me a link or the gist of it.

[Garr255]

" it will likely be similar to GigaMining's."  - which is ? Give me a link or the gist of it.

Here is the quote from the Giga thread:

To all interested parties:

I would like to request gigaminers and other interested parties feedback on the upgrade paths from Gigamining to Teramining. I have outlined my initial thoughts below but this is not final and could be changed based on community feedback.

I will offer a trade-up program from Gigamining to Teramining. Below is what each bond looks like from a numbers perspective:

Code:

                 GIGAMINING   TERAMINING
Total Gh/s      200Gh        4,000Gh
Mh/s per bond   5Mh/s        25Mh/s
Total bonds     40,000       160,000

You will notice that Teramining has 4 times the number of shares as Gigamining. This is to allow for both a free and paid upgrade path.

Free Upgrade Path
I will offer a 1:1 exchange of Gigamining bonds for Teramining bonds that costs nothing to upgrade. An example would be if you have 400 Gigamining bonds and don’t want to pay to upgrade, you can swap them 1:1 for Teramining bonds. This would represent a 5x increase in the bonds hashing power at no additional cost. So in this case, the 400 Gigamining bonds (2Gh) would be upgraded to 400 Teramining bonds (10Gh).

Paid Upgrade Path
I will also offer a 1:4 exchange of Gigamining bonds for Teramining bonds. So, if you have 400 Gigamining bonds (2Gh) and pay the upgrade fee, you will receive 1,600 Teramining bonds (40Gh) in return. The fee to upgrade will be .25 BTC per Gigamining bond. So, the upgrade fee on 400 Gigamining bonds would be 100 BTC.

Initial Sales of Teramining
There will be no public or private offering of Teramining to the larger community. The only way to receive Teramining bonds will be to trade-in your Gigamining bonds either through the free or paid upgrade paths. Any bonds not sold will remain in the gigamining sub-account and will not have coupon payments paid out on them.

Contract Changes
The only contract change between Gigamining and Teramining is the amount of Mh/s per bond.

Please leave your comments and questions below and I will answer them to the best of my ability. My hope is to solidify this in a timely manner so there is less uncertainty around the future of Gigamining.

Best regards,
gigavps

[intel-core-i7]

so if I am correct  - you will upgrade at some point and catch up with the trend.
And the upgrade will be free by default with an option to pay more and get even more.

Right ?

[Garr255]

so if I am correct  - you will upgrade at some point and catch up with the trend.
And the upgrade will be free by default with an option to pay more and get even more.

Right ?

The upgrade plan is not official yet. What I am say is that if we do upgrade (which is likely) we will use a plan such as above.

[Garr255]

Coupons paid!

Total BTC: 62
Per Share: 0.00253061

Total mined to date: 1376