Hello all. I still haven't received payment for delayed kit. Why?
We ran short of M-boards due to the factory shortage of parts I mentioned. I had hoped they would pick up the slack in production, but the break in production was felt last week when the shipment finally arrived from AK customs with no M-boards. According to tracking, we only expect 12 tomorrow. Every starter kit we send out takes 16 slots from the mine. We have 54 starters left to ship.
A cost analysis shows that we would lose over 20TH if we ship out of the mine - taking over 800 cards out of the picture, which does not work well from a financial perspective.
The solution is to dedicate four rigs to a separate mining account and then send each customer their share of the coin once we ship. Of course the customer will not pay a hosting fee or their share of power. I have already repointed the hashpower to this dedicated account:
https://www.btcguild.com/api.php?api_key=23fcc6a0f8292fe394b1706da8c0d304.
As soon as we ship these units, we will distribute the coin accordingly. Thanks for your patience on this - please look for an email requesting your payment address before you send it to us.
Best,
Dave
So your using the M-Boards that were allocated to our orders to maintain your mine (I am an share holder) and you have allocated 4 rigs at BTC Guild at the PPS rate (as per the API) with a 7.5% fee((1 / Network Difficulty * 25) - Pool Fee (7.5%)
https://www.btcguild.com//index.php?page=support§ion=howamipaid one of the highest pool fees out there).
Seems to me that your failing to walk your talk to ship out August orders before populating your mine. Let us not forget the rigs going to LabRatMining (which I am a shareholder also) which were purchased after most August orders were placed.
A cost analysis shows that we would lose over 20TH if we ship out of the mine - taking over 800 cards out of the picture, which does not work well from a financial perspective.
This could be considered a grave financial impropriety.
Please enlighten me as to how that is adventurous to us, seems like we are funding the operation of
your mine with
our equipment and getting paid way less than our own individual strategies. What advantage is that to us, are you sending extra h boards to compensate? Because the BTC payment based on your decisions seems way unfair and you are profiting way more by holding our equipment while the production errors are catching up. Even now, we will not be able to achieve any ROI
http://mining.thegenesisblock.com/a/9373700bafYou apparently have the equipment as per your analysis. I know I paid the full overnight shipping fee for an August starter kit. If your taking 800 cards out of the picture by shipping out our paid for equipment, we are getting Avaloned and your decision to do this without asking those of us waiting for orders is a poor choice.
You were doing so good, what happened to you.
wow, you're right. The pool is PPS with 7.5% fees, which is absolutely insane. furthermore, the current hashrate looks to be around 18Ghash per starter kit (if there are 54 as claimed). I don't mind my order being hosted until more m-borads show up, but i feel like the choice of pool and bare minimum of hardware allocated to it (i saw it get as high as 27Ghash and less than 18Ghash, which indicates it is at a loss compared with the starter kits' extra EOL card that ensures 25-35Ghash for those already up and running at home)
People who are mining with starter kits at home are producing almost 150% the bitcoins that this hosting does because of the >=25Ghash speeds and low fee pools available (seriously, 7.5%?)
I respect everything you've done dave, but this is a pretty blatant mistake. Punin shipped every single august order within about 3 days using extra h-boards and V2 M-boards. Hopefully we can get an update soon
Hi guys. I am working with Dave in some capacities. We do not want customers to feel slighted by the decision not to ship M-boards we had on hand. In this case, we were forced to consider the small impact of shipping M-boards to customers who we can compensate versus the very large impact on the other customer of MegaBigPower(100TH/s mine) who we could not compensate for the loss. I discussed these issues with him, and he has cleared the following:
We will pay out based on the theoretical maximum hash rate that the boards would have produced at 25 GH/s, starting from the time we had the M-boards ready to ship, but decided not to ship them. We will calculate this based on the following formula:
( Number of 1-difficulty shares produced over the duration * per-block output ) divided by difficulty at the time they were produced.
By my calculation, 25 GH/s should produce a theoretical 502,800 1-diff shares per day or 5.8194 1-diff shares per second. We will count the per-block output as 25.3125 BTC, where 0.3125 BTC is a good high estimate of the fees included on blocks today. We will not charge a fee or power cost on this.
This is a short-term solution while we have a shortage of M-boards. As soon as the M-board shortage is rectified, which should be in a few weeks at the latest, we will ship the remaining orders to customers.
We hope that this resolves the issue in your minds. We are focused on providing the best customer service we can, and that includes making smart decisions for the 100TH mine customer, who are also severely affected by these delays.
In addition, Dave informed me that only 36 orders have not shipped, not the 54 he mentioned before. As Dave said, the team is working 14 hour days nearly 7 days a week to get these issues resolved. Even last weekend when the team went home for a weekend break, someone was working both Saturday and Sunday. We also have more people coming on board soon to continue making rapid progress on all of the difficulties that arise from this type of work.
