[BitFunder] - ADDICTION - KNCMiner - Now hashing at 14+TH! - page 32.

KSV

sr. member

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SVERIGES VIRTUELLA VALUTAVÄXLING

Quote from: Dabs on October 13, 2013, 08:29:16 PM

Ok. Let's say I got dividends already (all GB1 did). So we go to bitfunder and have it withdraw to weexchange. Then from weexchange we can withdraw it to our own bitcoin wallet or address.

What am I missing and why get verified? To buy or sell shares on bitfunder? I am not in the US, but I prefer not to get verified if I don't need the features.

Or else, it's back to the question of "To have direct shares or not."

yeah i see it your way too, don't wanna be giving out my info to every company available on the net.

Dabs

legendary

Activity: 3416

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The Concierge of Crypto

Ok. Let's say I got dividends already (all GB1 did). So we go to bitfunder and have it withdraw to weexchange. Then from weexchange we can withdraw it to our own bitcoin wallet or address.

What am I missing and why get verified? To buy or sell shares on bitfunder? I am not in the US, but I prefer not to get verified if I don't need the features.

Or else, it's back to the question of "To have direct shares or not."

KSV

sr. member

Activity: 398

Merit: 250

SVERIGES VIRTUELLA VALUTAVÄXLING

Verification is only if you wish to trade the shares. To my understanding non-US persons(s) don't need it to just receive dividends.

Stinky_Pete

hero member

Activity: 560

Merit: 500

Quote from: Ditto on October 13, 2013, 08:05:50 AM

Make sure that you verify your WeExchange account, because iirc you're required to do so before Nov 1.

I've sent my documents - I imagine they are overwhelmed with the verification.

bobboooiie

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Activity: 656

Merit: 500

Quote from: kerhac on October 13, 2013, 11:53:37 AM

Hi, I'm European and I live in Europe. Do I have to verify my WeExchange account?

On Bitfunder say:

Quote

All current BitFunder users who are not United States persons or entities must supply the information required to obtain "Verified" status on their linked WeExchange account before November 1, 2013. Any such users who fail to provide the necessary information will not be able to enter into or sell positions on the BitFunder website as of November 1, 2013.

Yes you do, you basically need to prove you are not american.

kerhac

member

Activity: 65

Merit: 10

RVelasco mi nuevo usuario

Hi, I'm European and I live in Europe. Do I have to verify my WeExchange account?

On Bitfunder say:

Quote

All current BitFunder users who are not United States persons or entities must supply the information required to obtain "Verified" status on their linked WeExchange account before November 1, 2013. Any such users who fail to provide the necessary information will not be able to enter into or sell positions on the BitFunder website as of November 1, 2013.

Ditto

sr. member

Activity: 330

Merit: 250

Quote from: Stinky_Pete on October 13, 2013, 07:33:43 AM

I realise this question may have been asked already, if so could someone paste a link.

I also realise that some of the questions do not have answers yet, but I want to make sure I have done everything properly.

I am not a US citizen, nor do I live in USA.
I have a bitfunder account which currently shows my GB1 shares, and the dividends. I have opened a WeExchange account just in case I need it.
I also have shares in GB2 and GB3. Will these be transfered to bitfunder when the machines start hashing, as per the original plan, or do I need to take additional action? I want to end up with all shares and dividends going to the same account.

Thanks

Make sure that you verify your WeExchange account, because iirc you're required to do so before Nov 1.

Stinky_Pete

hero member

Activity: 560

Merit: 500

I realise this question may have been asked already, if so could someone paste a link.

I also realise that some of the questions do not have answers yet, but I want to make sure I have done everything properly.

I am not a US citizen, nor do I live in USA.
I have a bitfunder account which currently shows my GB1 shares, and the dividends. I have opened a WeExchange account just in case I need it.
I also have shares in GB2 and GB3. Will these be transfered to bitfunder when the machines start hashing, as per the original plan, or do I need to take additional action? I want to end up with all shares and dividends going to the same account.

Thanks

philipma1957

legendary

Activity: 4326

Merit: 8950

'The right to privacy matters'

Quote from: hasher87 on October 13, 2013, 05:24:14 AM

let me break it down, based on my understanding

as of now, GB1 miners are all 100% completed, and the current ADDICTION shares only applied to the first GB1 buyer

right now, we have an additional 3 miners coming from the GB2, and pending another 5 miners for the GB2 to complete

Simply put, i have 3 shares (equivalent to 150 shares in bitfunder) from my previous GB2, but unfortunately those 150 shares wasn't included in my current bitfunder account yet

So right now, with 7.5TH running, since GB2 shareholder aren't included yet, we're talking about 54mhash/s as of now for the GB1, based on the 7.5TH / 138400 shares calculations

Solution?

Just transfer up all those remaining shares to the stockholders who invested in the first 3 miners only in the bitfunder, the rest of the 5 miners will then have to wait for it
Another alternative method is to send the dividend directly to the shareholders bitcoin address, not through bitfunder yet. So that means bitfunder dividend would be minus the GB2 dividend

correct me if im wrong Wink

and feel free to donate me lol 1HaGsG2Fn6qWjpgSHCsbBVAL9jeBMbszGo

edit: one more thing, it would be so great if you could let the hashing info to be transparent for the public view

does not work for USA buyers of group 2 . USA buyers are no longer allowed shares in bitfunder and have to offload any they have. So lets say for the 3 machines in group 2 that are in hand 3 x 240 = 720 shares at .3 btc lets say 360 are usa and 360 are europe.

the 360 europe could be converted to 18000 bitfunder shares but all the american holders can't be converted as bitfunder will not allow us to get new shares.

this will sort out in about 3 to 10 days since group 2 is due the rest of the miners this week. It is easy to do accounting once it is a full group. I am hoping by fri the 18th it will be a done deal. At least for group 2.

hasher87

hero member

Activity: 686

Merit: 500

let me break it down, based on my understanding

as of now, GB1 miners are all 100% completed, and the current ADDICTION shares only applied to the first GB1 buyer

right now, we have an additional 3 miners coming from the GB2, and pending another 5 miners for the GB2 to complete

Simply put, i have 3 shares (equivalent to 150 shares in bitfunder) from my previous GB2, but unfortunately those 150 shares wasn't included in my current bitfunder account yet

So right now, with 7.5TH running, since GB2 shareholder aren't included yet, we're talking about 54mhash/s as of now for the GB1, based on the 7.5TH / 138400 shares calculations

Solution?

Just transfer up all those remaining shares to the stockholders who invested in the first 3 miners only in the bitfunder, the rest of the 5 miners will then have to wait for it
Another alternative method is to send the dividend directly to the shareholders bitcoin address, not through bitfunder yet. So that means bitfunder dividend would be minus the GB2 dividend

correct me if im wrong Wink

and feel free to donate me lol 1HaGsG2Fn6qWjpgSHCsbBVAL9jeBMbszGo

edit: one more thing, it would be so great if you could let the hashing info to be transparent for the public view

testconpastas2

full member

Activity: 199

Merit: 100

Maybe i dont understand all the problem. But wouldn't be easier to wait X days ( to benefit to the first buyers),
and then put all the shares at bitfunder?

to administrate different groups is not as easy as only one big group.

justanickname

full member

Activity: 157

Merit: 100

Quote from: tyrion70 on October 12, 2013, 04:13:26 PM

It's not a problem in itself, but we cannot issue the shares in bitfunder then because you can't undo that.. So once the shares of the three gb2 miners are issued to bitfunder there is no way to seperate GB1 shares from GB2 shares anymore.

OK I am obviously missing something here, but why do you want to separate GB1 shares from GB2 shares in bitfunder?
All the shares represents the same amount of MH/s.
So for someone who wants to buy shares what is the difference
if they originally came from GB1 or GB2?

Thanks

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

This has been by far the mist fair GB yet, tyrion70 and blastbob are handling perfectly.

Guys please don't change a thing, the way that you have it set up now is mostly fair for all involved.

On a side note,
It would be cool if we could see a read only panel of them hashing away, the stats that is.

Just a thought...

philipma1957

legendary

Activity: 4326

Merit: 8950

'The right to privacy matters'

Quote from: tyrion70 on October 12, 2013, 04:13:26 PM

Quote from: justanickname on October 12, 2013, 03:29:30 PM

I got shares in miner 3 GB2.
I don't want to "cause any problems", if it is a few days no big deal.

But I don't understand what is the big trouble of just dividing all the revenues between all the shareholders of all the 15 miners
like we are all a big group of 15 miners and when the rest of GB2 miners arrive than do all the special administration needed.

In short: till all GB2 miners arrive - we are all a single group of 15 miners.
when all GB2 miners arrive - pretend that the 3 miners also arrived just now, and do the administration accordingly.

Why is this a problem?

It's not a problem in itself, but we cannot issue the shares in bitfunder then because you can't undo that.. So once the shares of the three gb2 miners are issued to bitfunder there is no way to seperate GB1 shares from GB2 shares anymore.

What we could do is pay the dividends on the 3 miners to the btc addresses, but then we'd have to make absolutely sure that we have everyones correct btc address (involving sending everyone on that list a PM again and wait for response). Some people payed from btc addresses that they didn't "own" and because they opted for bitfunder that wasn't an issue at the time.

We can always correct later and it should only be a few days. If it's longer or the next batch from KnC still doesn't complete GB2 (or 3) we will act accordingly.

BTW, we are keeping track of the income of each miner in order to keep all options open.

Time for bed now here.. If I close my eyes I still see whirling fans.. I take it as a sign that I've seen to many Jupiters today :p

Cheers

at justanickname

see highlighted area I did that just thinking I would use bitfunder. I am not the only one that did this. you have to take it all with a grain or two of salt. Most asic builders are terrible. Horror stories all over the internet. So far Knc ,tyrion70 and blastbob have been okay.

I am hoping that by weds or thur both group 2 and 3 will be filled.

tyrion70

legendary

Activity: 934

Merit: 1000

Quote from: justanickname on October 12, 2013, 03:29:30 PM

I got shares in miner 3 GB2.
I don't want to "cause any problems", if it is a few days no big deal.

But I don't understand what is the big trouble of just dividing all the revenues between all the shareholders of all the 15 miners
like we are all a big group of 15 miners and when the rest of GB2 miners arrive than do all the special administration needed.

In short: till all GB2 miners arrive - we are all a single group of 15 miners.
when all GB2 miners arrive - pretend that the 3 miners also arrived just now, and do the administration accordingly.

Why is this a problem?

It's not a problem in itself, but we cannot issue the shares in bitfunder then because you can't undo that.. So once the shares of the three gb2 miners are issued to bitfunder there is no way to seperate GB1 shares from GB2 shares anymore.

What we could do is pay the dividends on the 3 miners to the btc addresses, but then we'd have to make absolutely sure that we have everyones correct btc address (involving sending everyone on that list a PM again and wait for response). Some people payed from btc addresses that they didn't "own" and because they opted for bitfunder that wasn't an issue at the time.

We can always correct later and it should only be a few days. If it's longer or the next batch from KnC still doesn't complete GB2 (or 3) we will act accordingly.

BTW, we are keeping track of the income of each miner in order to keep all options open.

Time for bed now here.. If I close my eyes I still see whirling fans.. I take it as a sign that I've seen to many Jupiters today :p

Cheers

justanickname

full member

Activity: 157

Merit: 100

Quote from: tyrion70 on October 12, 2013, 01:32:40 PM

However... We would like to do a moral appeal on people in the first 3 miners to not hold us to that line (we hold 402 out of those 744 shares ourselves by the way).

The reason is that we really believe we will receive the remaining miners next week and the amount of administration involved to start mining for these three miners is significant (especially since we still need to withhold costs for the PSU's, transport and the btc/usd difference). It's hard enough as it is with us not receiving all miners as once. We really hope for your understanding in this. Also know that we've asked KnC if they will offer some form of compensation because the miners are late.

If it turns out to take a lot longer to receive the remaining miners we'll think of some way to make it work.

Cheers

I got shares in miner 3 GB2.
I don't want to "cause any problems", if it is a few days no big deal.

But I don't understand what is the big trouble of just dividing all the revenues between all the shareholders of all the 15 miners
like we are all a big group of 15 miners and when the rest of GB2 miners arrive than do all the special administration needed.

In short: till all GB2 miners arrive - we are all a single group of 15 miners.
when all GB2 miners arrive - pretend that the 3 miners also arrived just now, and do the administration accordingly.

Why is this a problem?

tyrion70

legendary

Activity: 934

Merit: 1000

Quote from: philipma1957 on October 12, 2013, 02:33:34 PM

Yeah I can be flexible up to a point. ie 1 ,2, 3 even 4 or 5 days. Also like you said maybe knc will pay us some coins. To be honest in comparison to BFL this is not so bad..

Good to hear! And yeah BFL is far worse as far as I can see.. We'll keep u guys apprised of delivery dates.

Quote from: Tiennou74 on October 11, 2013, 01:18:03 PM

Is there a new dividend this weekend?

Dividends will be payed next wednesday again.

Quote from: hasher87 on October 11, 2013, 11:17:42 AM

once all of the gb1 miners start hashing, please confirm the speed of mhash for each share thanks! Grin

Currently approximately 7500GH for 15 miners (including stales/rejects etc, cgminer reports a little higher) (14,5 miner if you take the two broken boards into account). That's an average of 500GH / miner or 40.32MH per share. It seems with every firmware upgrade the miners are more stable.

Quote from: juve4v on October 11, 2013, 04:46:20 AM

When will the next window be open?

Window is open again at least until next dividend payment next wednesday. We'll post the exact date and time later.

Cheers

philipma1957

legendary

Activity: 4326

Merit: 8950

'The right to privacy matters'

Yeah I can be flexible up to a point. ie 1 ,2, 3 even 4 or 5 days. Also like you said maybe knc will pay us some coins. To be honest in comparison to BFL this is not so bad..

I am glad bfl only got me for about 500usd I was pretty lucky compared to some.

tyrion70

legendary

Activity: 934

Merit: 1000

Quote from: philipma1957 on October 12, 2013, 12:09:17 PM

So right now you only have 3 miners working for this group. most of my 25 shares are in miners 2 and 3 which are working as we type. 20 of my 25 shares are in hand hashing.

a one or two or even three day delay to get up to 8 miners is not a big deal. But suppose it takes 10 days.

Are we saying miners 1,2,3 score and 4,5,6,7,8, don't score. Or are we being kind and sharing the wealth. So all of group 2 is getting 3/8 hash rate.

The first way favors me the second way does not.

Like I said if it is a short time to go from 3/8 to 8/8 cool. I would be willing to share.

If I missed a policy ruling there are lots of posts so please be kind.

Hey Philip,

I had to look it up myself cause I wasn't sure anymore..

It seems we said that each miner on GB2 would count individually unlike GB1. For some reason that line of text is not in GB3. I quoted the line below:

Quote from: tyrion70 on June 19, 2013, 02:55:50 PM

The last difference is that each miner is counted treated individually because we don't know for sure they will be delivered at the same time. The first miner sold will therefore be the first miner to payout, but only to the shareholders of that miner (or of ADDICTION once it's issued). Which rougly means you have an advantage if you buy early!...

However... We would like to do a moral appeal on people in the first 3 miners to not hold us to that line (we hold 402 out of those 744 shares ourselves by the way).

The reason is that we really believe we will receive the remaining miners next week and the amount of administration involved to start mining for these three miners is significant (especially since we still need to withhold costs for the PSU's, transport and the btc/usd difference). It's hard enough as it is with us not receiving all miners as once. We really hope for your understanding in this. Also know that we've asked KnC if they will offer some form of compensation because the miners are late.

If it turns out to take a lot longer to receive the remaining miners we'll think of some way to make it work.

Cheers

philipma1957

legendary

Activity: 4326

Merit: 8950

'The right to privacy matters'

Topic: [BitFunder] - ADDICTION - KNCMiner - Now hashing at 14+TH! - page 32. (Read 74891 times)