Hey everybody its me Dave.

Its great to (finally) be back to an idea that serves the community of miners around the world, no matter what their power cost is.

I hope you will read through everything Cryptonomos posts with respect to how the tokens work and have confidence in knowing that myself and the MegaBigPower management and operations team are the people behind GigaWatt.  We are committed to continue building great crypto mining facilities for our customers.

I'm also asking for your patience and consideration when working with us during this early phase, as we are being deluged with sales requests and inquiries.  Our Sales & Customer Service teams *are* reading and responding to each and every email sent to support@giga-watt.com and host@giga-watt.com emails.

Thanks again & I'm looking forward to building your mine for you!

Best Regards
Dave Carlson, CEO
giga-watt.com

   There are: 10 mines left!

Its been a long time since I've posted here - many of you may not have heard of me or MegaBigPower.  We are a US mining operation located in Wenatchee, WA where power prices are the lowest in the country.  We were the first US miner to reach 1PH and at one point carried 25% of the global market share for mining

We've finished our 2+ year run with the 55nm hardware, achieving over 2PH of mining power, returning steady ROI to investors.
Now, we are cleaning out the old equipment and replacing it with new, highly efficient mining hardware with a minimum efficiency of .26J/GH

Our mining facility is proven and ready to run, which presents a unique opportunity for investors to take advantage and get returns quickly.
I'm offering investors the opportunity to buy into as many as (10) 200kW spots in my facility.  Investors in this Phase I project get first dibs on my planned expansion of 3MW by Feb 2016.

My hardware of choice is the S7 miner produced by BitMain.  Its the most efficient and well produced miner on the market, and BitMain has proven many times over that they are a trustworthy and high quality manufacturer that delivers to spec and to promised delivery dates.

Investors will need a minimum of $292k in order to purchase 160 S7 miners for co-location in my facility.  I provide power from high voltage down to the high efficiency 12V server power supplies.  I charge a % revenue share as an all-in cost for acquiring, configuring, maintaining and troubleshooting/optimization as well as monthly power costs, facility rent, and security.  Revenue share is designed to be viable long term - when difficulty rises and price squeezes back to minimum profitability, while attempting to achieve ROI in less than 9 months.

I'm assured that I can get this hardware with a ship date between November 23rd and December 13th so long as funds are provided *very* soon.  With BTC prices going through the roof, available hardware can and will sell out quickly.

I will assist in the acquisition, without adding cost.

BTC payments are preferred - as we all know.
Wire transfer is acceptable, but the time it takes could leave you with a delay (if hardware sells out while waiting for the wire to arrive).

In either case, full payment will be required and will be sent directly to BitMain in coordination with me.

Investors please contact me through the catch all: info@megabigpower.com and I will respond to serious inquiries.

Best
Dave Carlson, CEO
megabigpower.com

Hi folks - a long overdue update here.

When we switched away from our own pool, we went to Eligius: http://eligius.st/~wizkid057/newstats/userstats.php/15QVHxorX61umBkRDejxcjDqq8V8yYv5uZ

We have mined a total of 113.506 since the change over.

You will notice that we are currently underserving the hashpower target of 518TH.  Its currently operating at 67% due mainly to heat, but also some equipment shuffling that we've been doing.

**************
Management Fee increase: Difficulty and price continue to make economics ever more difficult.  In addition to our summer heat problems, network growth is impacting us again.  In order to pay for the power & justify the floorspace I need to raise the management fee to a 50% share.
**************

However, since we have been underserving the project by 30%, I will send 80% of the mined proceeds to the picostocks payment address, rather than taking the full 50% management fee off the top.

I expect to get the hashpower back on target this week.

Best
Dave

We've been suffering from high temps here in Wenatchee.  If you didn't see the news, we've had temperatures as high as 113F (45C), as well as a large fire that came into town and burned 28 homes and some large buildings, forcing people to evacuate from their homes (including me).  The fires did not threaten the mine, however they produced a lot of ash, which clogs our filters.
We are cleaned up now, but temps have been consistently over 100F for the last two weeks.  This has caused significant reductions in hashpower.

Add to that the recent transaction spam attack caused pool server outages (Bitcoind crashing) and forced an emergency switch to Eligius.  I'm going to leave everything pointed at Eligius for the time, which cause payouts to get inconsistent until I can revise the system.

More awesome from Jordan Lee and the NuBits dev team!

I will most certainly put my BlockShares to work minting.  Looking forward to acting as a reputed signer as well as to run an exchange node for all my favorite cryptos!

B&C has the potential to quickly be established as the worlds biggest (and fully distributed) crypto exchange.

Great stuff guys.

Dave Carlson, CEO
megabigpower.com

More clarification on how picostocks works:

Pico is an investment entity that invests in companies and then lists that investment on its site as a per-share way to participate in these startups.  It helps the community support the community.

In the case of Cointerra, Picostocks made an investment,  and others who participate on Pico (like me) bought IPO shares in the Cointerra stake.  Pico (and MBP) have likely lost our investment in Cointerra.

Picostocks' investment in Cointerra didn't give them (or MBP) access to their chips or other tech.  It was a simple convertible note if I remember correctly.  No conspiracies, no scams. 

Believe me, MBP has laid out significant capital to keep 500TH stable and operating at full capacity.   Nowhere in the agreement did it require me to backfill hashpower as the chips began to fail...

I see.  Let me explain the relationship between MBP and Picostocks.  MBP builds and operates mines.  Picostocks is a different company that offered a mining contract offering (shared mine ownership). 
I agreed to build and host the Picostocks mine, but MBP and Pico are different companies.   We have our own goals and plans that may be discussed on forums or posted on our site, but those plans may have nothing to do with Picostocks or 500TH. I own MBP.  I don't own Picostocks  (or BioInfoBank).
Hope that clears up any confusion (or suspicion ).

Read carefully:  I own MBP.  I built 500TH mine.  We have no technology from Cointerra whatsoever.  500TH was built with the 55nm BitFury chip and still runs with the same rigs to this day. 

This is some kind of conspiracy theory of yours. 

You keep saying this, yet I don't know wtf you are talking about.  I don't have a single device made by Cointerra.

True in some cases not true in others.  A moot point since we have only 55nm chips.  With the better power supplies, we are running as efficiently as some of the 28s on the market. 

NOTICE TO SHAREHOLDERS

In light of the continued decline of the Bitcoin mining market, we are forced to make an adjustment in fees to accommodate hosting costs.  Despite declining revenues throughout all of 2014, this is the first adjustment we are taking that affects revenues. 
MegaBigPower has used it's early profits to supplement declining revenues to date.  In addition we have replaced all power supplies with more efficient units.  We have also replaced failing rigs in order to maintain our target hashpower.  Unfortunately we've reached the point where we must extract additional revenue off the top.
Effective immediately,  MBP will extract 30% of Bitcoin produced, prior to sending coins for distribution.  If the market recovers, we will reduce this revenue share. If the market continues to worsen, we will need to increase this revenue share.
I'm glad that we can offer this remedy as opposed to taking closure actions like some of the other mining contract providers, and appreciate your understanding.

Best
Dave Carlson, CEO
MegaBigPower

I see.  Maybe he planned to do something with them until their 1st gen chip came out poorly.  But Leszek has never promoted that he would grow the 100TH/500TH mine beyond its current hashpower.  100TH was the original target.  Leszek increased it to 500TH at no cost to the investors. 

I'm quite certain nothing was acquired from Cointerra except an equity shareholder position.  I'm the one managing the 500TH mine and can assure you there's not a single Cointerra machine in my facilities.

No idea what you are referring to here.  No 500TH shareholder funds have gone to purchase Cointerra tech.  The 500TH hardware has been pretty much fixed since we first built the mine late last year.  Its all 55nm Bitfury chips.

Update on 500TH mine:

We have finished our internal pool launch.  500TH mine is now getting paid on actual submitted shares (includes dupes and other rejects).  You can see in the dividends that we are tracking very closely to the flat theoretical payouts we've been doing for the last few weeks.

Our internal pool provides a unique benefit of paying true PPS, since all miners for this pool are trusted (partners, hosted and MBP mine).  This means you as a holder of 500TH mining shares do not have to incur swings of bad pool luck.

Best
Dave

The first of many mining companies that will fall as prices stay low and difficulty high.  Glad to say I'm not one of them

I apologize for not making a timely post on Bitcointalk forums. 

We had a bug in the payout script that caused a large payout to go to the Picostocks payment address (about 3 days worth of mining).  You can see it below and check it out online.  After we sent the 27.8BTC, we paused the payout script and have now made a partial payment that makes up the difference. 

After today, payouts will resume as normal.

Sorry for the confusion!

https://picostocks.com/stocks/bitcoins/19

3471      2.25300000      done   2014-10-03 16:59:44   
3467      27.82211335      done   2014-09-29 23:49:53   
     
   Dave Carlson | CEO
   www.megabigpower.com

Hi folks - MBP has developed our own private pools that accept only the mining of preferred mining partners (the franchise concept) and of course our own mines.  500TH mine is now mining to one of our internal pools.  Because we control the 500TH mining hardware and our mining partners are trusted, we are probably the only pool that pays pure PPS now.  This means 500TH dividend payouts will be much more reliable - they have suffered quite a bit of variance while mining to BTC Guild.

Expect to see steady daily payouts regardless of pool luck.

[EDIT] We are still transitioning 500TH to the pool.  There will be a small amount of hashpower at BTCGuild until early next week (currently about 57TH).  Once we have a public facing stats mirror, I'll post the url here.

Yes, there's a reason many oem's are pulling out of retail.  There's tremendous workload associated with providing quality customer service, a solid refund policy and fast shipping.  Adding credit cards has increased our administrative costs due to the amount of credit card fraud.  In order to honor refund requests, I've sent millions in BTC and USD.  In addition, the presale market continues to set lower bounds on price, despite the fact the we ship and they dont.  Price fluxuations in BTC drive ROI models crazy, putting pressure on us to lower prices.  Leased haspower is at least currently demanding an attractive premium over offering retail.
MBP was and still is focused on building mines.  Retail sales has been a great way to involve the community, and initially generated some good capital, though we haven't done anything like the sales of KnC, Cointerra, etc. and in the face of 28nm, our product has become "legacy" equipment already.
All this being said, we still have an idea of what we are willing to sell our hardware for, and that is reflected in our prices.  I dont typically respond to price wars, nor do I ever engage on forum arguments about ROI.  The price point each miner will pay is a personal decision and everyone has a different strategy. 
If my prices don't appeal to you, I encourage you to shop around!  But I hope this is not perceived as a.lack of support to the community.  I remain committed to bringing our next gen products to this community along with continuing to field the best customer service and support team in the market today.

I'll be at http://insidebitcoins.de/en/?c=bcoinberlpage - would love to meet fellow miners there!

Clarification: I'm also headed to Warsaw to meet Leszek.  I doubt I'll get a chance to meet Niko (Punin), but I sure hope he'll be at either Berlin or Warsaw!

Cheers,
Dave

I'll add a little detail as well, from the part of the email thread Josh left out:


majik@foxcub.net
12/24/13

to me
"Hi Dave,

You're right, that was my fault.

I left a 1 off of the end of my account number because of a misprint on the checks the bank issued when I opened my account (since I never use checks I didn't realize there was a misprint)."

There's more, but is it really necessary?