Topic: [CLOSED] 1THs 1kW 28nm Miner - $4200 - March 18th, BTC, Wire, Paypal - Last Call - page 11. (Read 12952 times)

I understand that customs are my problem and it will have to be reasonable.
If I go ahead it would be only one unit. believe it or not but 4 ants still didn't ROI and I'm mining since mid December. That is reality so I'm really cautious on this purchase.

Thank you for coming back to me quickly 

@SVK We are flexible on what we will list on the customs invoice. However, we won't be responsible if you request an excessively low value and customs calls you on it.

We are already covering shipping costs for you.

Send me a pm with the details of what you're considering ordering, and we can make arrangements. If you use paypal, you will be responsible for the paypal fees.

Hi Cheshyr,

I can't decide what to do but that is my problem lol.

However I would ask you two questions

1, Value declared on import documentation is ?
2, Is it possible to supply these without PSU's to save on shipping costs and what would be approximate price ?

I'm based in UK and Paypal would be my preferred payment method.

Thank you very much and good luck

Update: 6 month warranty, Paypal now accepted on a case by case basis; send a PM.  We will keep parts on hand for quick repairs.  I will update the OP.

edit: @vilgem: I'm sorry if you have a complaint with bobsag3, but please keep it in his threads.  

You get packages from China faster than respond to emails of your Minersource customers. Do not you find it strange?

Yes - when you add in the psu's total purchase price is essentially the same.  So the real question is trust of the seller and delivery timing.

Hey Guys,

I just wanted to let everyone know, that my company has been in business since 1998, we design and market many products, we currently sell to Sears, Petco, PetSmart, Amazon and other retailers, on ebay we have over 20,000 feedback rating on one of the accounts with a 99.7% positive ratio. This unit bids up to over $7,000 on eBay u can see our finished auction here: http://www.ebay.com/itm/BITCOIN-MINER-1TH-MINING-RIG-1TH-S-COINCRAFT-A1-28NM-ASIC-CHIP-1000GH-S-/310880749188?pt=LH_DefaultDomain_0&hash=item4861efc684

 and we have another one closing in 5 days here: http://www.ebay.com/itm/BITCOIN-MINER-1TH-MINING-RIG-1TH-S-COINCRAFT-A1-28NM-ASIC-CHIP-1000GH-S-/310887614404?pt=LH_DefaultDomain_0&hash=item48625887c4

We have an office in China (Yantai) with two full time agents, a "connected" chinese customs broker, a factory in Ningbo, three warehouses with offices in USA, one in UK, and one in AU. If anything goes wrong with your miner we will be able to resolve it free of charge in the first 6-months, and after that will only charge for parts; We will have all parts; PCB's, spare modules available. We can't give refunds for mining equipment, but we are not going anywhere, and will make sure it keeps running for you. I have been running one of these 1TH units for weeks now and it has never missed a beat......

Anyways, I wanted to speak to the credibility issue and I have no problem accepting paypal, but as you can see we are getting this buy basically at below normal cost so we have to ask you to pay the paypal fees. If you are willing to pay the fees, then I don't have a problem, just PM us. I know this buy will have to be closed soon as the batch is almost sold out already. Dave is very modest, he is actually an all-star embedded systems engineer and we are developing next generation mining gear as I type this message, so stay tuned......

Best Regards,
Newb

Thanks for the encouragement. It is what it is, I guess. As I said previously, we've already ordered and paid for our units, and there are other interested parties... Just not as many as we expected. We're glad to offer the service if anyone else becomes interested.

You are damned if you do, and damned if you don't take Paypal or escrow. Some people want it either way and you are stuck in the middle having to risk your own money. I know it sucks man. I do it everyday in my normal day job, but luckily I get to meet all my customers face to face and deal with huge corporations who sue a customer for not paying. Honestly, you can do escrow on a case by case basis. Anyone that has been on here a decent amount of time and has positive feedback would probably be safe, after some serious profile snooping. Paypal is a whole different animal. I am not even going to touch that one.

Just the thoughts of a stranger on the internet. Good luck with the group buy!

Paypal for anything bitcoin related is essentially Russian Roulette with only one empty chamber.  That's too much risk for us for something this specific.  General auctions seem to fall through the cracks a little easier.

Escrow is a nice middle ground, but it requires us to float the money until the escrow completes, as opposed to passing the funds through directly.  It's not something we can make generally available, since we don't have a bunch of liquid capital.  I can bring it up again with my partner if someone is serious about placing an order this way, but previous discussions came up negative.

I'm willing to consider other ways of establishing trust, but it sounds like nothing will be enough except a previous successful group buy, which is a bit of a catch 22.  I'm open to suggestions.

Do you accept Paypal since you already have an Ebay presence?

Unfortunately, it's hard to find a good balance between risk assumed by sellers and risk assumed by buyers when determining which payment method to accept.

Bitcoin and bank transfer are slanted towards sellers, and Paypal and credit cards are slanted towards buyers.

I definitely appreciate the feedback, and I'm certainly not offended by the comparison and questions.

For the record...  currently an Antminer S1 at 1.1BTC comes out to ~$4.1/GHs and 2W/GH.  These units are looking at ~$4.2/GHs and 1W/GH.  These units comes with power supplies; the Antminers do not.  So they are fairly comparable, although I believe these have a slight advantage in the long run.

Anyway, the buy is open, and I'll keep everyone updated as things progress.  Don't hesitate to ask questions or contact us.

Don't worry - for the most part Antminers come direct from the factory or their one sales rep.
You are going to be compared though to Antminers as a benchmark.  Because right now they have the only reasonably priced (1.1 BTC), readily available(2-4 days), scalable (200 Gh/s) asic miner.  Many of us have 2 -20 of these.
It is certainly better to have one unit at 1 Th/s rather than 5 at 200 GH/s.  But not at any price.  Plus the Antminer is a proven, dependable miner that gets delivered quickly.
All this is going to feed into the dollar and Sense of our decision.
Just so you know where some of us are coming from.

Edit: grammar

Thanks for the feedback.

Yes, we are playing middleman, same as every other group buy initiator.  We are doing more than taking orders, however.

There are other considerations if you want to order this unit directly from the manufacturer.  There is a 20% price increase that the manufacturer is placing on all sales outside of China, as well as shipping from China, and clearing export customs.  We have an established presence in China, and an agent who is handling this for us.  We're taking care of the 20%, covering the shipping, and managing the export process.  Participants in this group buy make a payment and receive a miner; the rest is our problem.

I have yet to have anyone ask for credentials and vetting.  I will gladly provide these if anyone is interested.  Send a PM, and we'll make arrangements.

Most of the potential problems you listed are a potential problem with every group, yet other group buys have gained traction.  You do bring up a good point about DOA; I'll verify how that will be handled and post an update.

I would probably buy directly from the manufacturer at this price point, or from a member that has a more established history of being trustworthy and organizing group buys. The biggest problem I have with this group buy is the trust factor and the fact that you are a relatively new member that hasn't organized anything like this before in the past.

If I understand this correctly, you are just the middle man between buyers and the manufacturer, but the manufacturer also is fairly new and doesn't have an established history.

Here are a few things that could possibly go wrong:
- Money never makes it from the group buy leader to the manufacturer.
- The manufacturer receives payment, but doesn't deliver the goods.
- The miners get caught up in customs.
- The miners arrive and don't work. Would we just be SOL or is there any warranty provided by the manufacturer?
- The miners are delivered late.

This seems like a lot of risk for a very small potential profit.

You've said this before. Are you selling antminers?

I agree that mining equipment is highly speculative, and everyone should be comfortable with their purchases, and understand the risks.

That said, I'd expected a slightly more enthusiastic turnout than the few inquiries I've received so far, especially after the recent price drop.  The units are selling out, but not here. Is there something I'm missing?

Based on an April 1 start date please review the numbers here

You will never breakeven the fact you can get it one week earlier helps but still will not break even......

Be careful and know what you are getting into and when.

These will be avaiable for less by 3/18 if not the ants will.

Either way know what you are getting into

http://thegenesisblock.com/mining/a/bec67ec98f

I may still get one for fun.....but that would be my only goal.

I honestly don't know; we did not disassemble our unit.  All the details seem to indicate Coincraft A1 chips, or something that performs similarly.  (28nm, 40 chips delivering 1Th at under 1W per GH).  As mentioned in the other thread, "It hashed at the advertised speeds in an environment with only moderate climate control for a week with no issues.  If you have concerns about the chip source, then I'd recommend careful consideration.  I'm not interest in providing products people are unhappy with."

I may have missed this, but whose asic chips are we dealing with here?

Good to know, bobsag3.  Thanks.

Also, we're willing to be flexible on customs invoice, although we will not be held responsible if customs makes a stink on your end.