Topic: [Closed] Bitfury miner group buy + hosting (with ESCROW) (Read 37366 times)

Hi All,

I just stumbled across the old GB miner in the loft and it reminded me that I completely forgot to make the final GB payment (from me to the group for the hardware) last year. I'm very sorry about this, I think I was waiting for a couple more replies to my post to ensure that everybody was happy with the plan and then time slipped by and I forgot. In any case, I've made the final payment now (enjoy the dust!) and so the GB is officially (as well as practically) over. Good luck with all of your bitcoin ventures in the future. I'm going to lock this thread now, as we're all done. Cheers!

Hi

Thanks for the photo, its nice to see where the money went!

I'm fine with the idea of selling the hardware directly to you.

Thanks for the best organised and run group buy that I've been part of ~ its a shame the difficulty climbed so high, so quickly.

Thanks for the update and the pic.

This has been one of the best managed group buys.

I am OK with whatever other members decide to do. You can also keep my share of the outcome (if any)

my address 12hv7UcFgrBWLjWs5McPYP63Yza6ufT6Sw

Thanks again for the venture.

By the way, I thought that you might like a final look at the frankenminer after the year's mining.

Hi All, well it's been a while now since we turned the miner off and nothing particularly positive has happened to the BTC price or network difficulty. As such, the miner would still not be covering it's power costs and so it's not worth turning back on. It's been an interesting year, but I think we're at the point where the group should decide what to do with the hardware and finally dispand. When we started this venture we anticipated selling the hardware at the end of the year's mining and splitting the winnings from the sale between group members. However, the landscape has changed so dramatically since we started and given that bitmain are selling S3s for 0.52 BTC, which have much lower power consumption and about half the hashrate, we're not likely to get much for it.

I'd be interested to hear everybody's thoughts on what, where and how to sell. Ebay will fetch the best price, but we risk chargebacks (and so would have to keep the proceeds of the sale on hand until the chargeback period has ended) and will then face costs for converting to BTC to distribute to the group. I'm happy to sell on this forum, and have made successful trades here, but most people understand the value of the hardware and so the price will probably not be too high. Finally, I'd be willing to offer the group £50 (0.23 BTC at current exchange rate) for the hardware, which is broadly in line with the GH/s/BTC prices for the S3, because it's less hassle to keep it than break it up sell it and post it on. Also, I've grown somewhat attached to it after having looked after it for a year and it feels like a bit of history. Let me know what you think.

Hi All, well for the first time in about a year the miner is no longer covering its electricity bill . We'll turn it off now and keep an eye on the BTC price/difficulty over the next week or two to see BTC rebounds making it worth turning back on, but it may be that the group needs to decide on the next steps (i.e. sell the miner, hold the miner hoping for a surge in bitcoin price etc.) We'll post again when it's a little clearer where things stand with the current BTC price issues.

Hi All, payment details are below as usual.

TxID: c5c870ad1940c600e2e2d08ad6c38b3404f750c96e5184ca7e376d22fb078def

Thanks guys, that's very much appreciated .

Things are quite a bit more stable after some card position swapping, so nothing to report for the last couple of weeks. The payout details are below as usual.

TxID: c96942a9cd1facb879b828ac3d08e2aa5e93370ec5c586cbd4e8dec53a4106f0

what he said this has been very well run from day 1. just wish id had the chance to invest more with you in the beginning


keep up the good work

No worries man, you've done a fine job with this GB.
Thanks for the divs and update.

Hi All, Apologies for missing the normal payout day yesterday I wasn't feeling well. Please find the payout details for this two-week period below as usual. We've been having some stability issues with a couple of the BFSB H-cards, which seem to be predominantly down to one bank on the M-board. Moving the cards to other banks has helped a bit with the stability, but they no longer seem to be in the best position for maxing out the hashrate, so we're around 10GH/s down on the average hashrate - not much by today's standards I suppose! Will keep playing with them to see if we can do any better, but the hardware is starting to show its age now .

TxID: 942ee3bd3d45c8a0be75578239dd91be4a40a0e7b03d67d87abff52564199d50

Hi All, payout details for this week are below. We started the miner back up on Sat 2nd Aug, so it was not running for 8 days in total. At a difficulty of 18736441558 the theoretical yield for the group's ~245 GH/s is 0.00657607 BTC per day (so 0.05260856 BTC in total for the 8 days). Power costs then need to be subtracted from this. In order to keep things simple, so that we can use the existing payout spreadsheet, we've transferred the full 0.05260856 BTC to the group's address and then assumed the normal power consumption (~100 kWh is normal for 14 days) for this payout period. This underestimates power costs a little, as we accounted for the actual power consumption for the last period, but it's close enough for us. Hope this all makes sense.

TxID: b7ec20161ed11b066e2f1f2502e51a9a7286fb3303f0dbe71c634819506fa274

Hi All, payout details for the last couple of weeks are below. We'll settle up for the time that the miner has been offline in the next payout.

TxID: 65381417d2e18b7e04a99f8006c7576881a5d458aaeb47b0ec64cb190978f541

Thanks for the update. 

Hi All. Just a quick post to say that we've decided to turn the hardware off for a few days (around a week at the most). For personal reasons we're not able to give it the attention that it usually gets and since it's been rather hot here lately we don't want to risk any heat-related hardware failures (or burnt down buildings ) while we're not watching. We will pay the theoretical amount of BTC that would have been mined during this time (minus theoretical power costs) to the group to cover the down time. Hope this makes sense.

Hi all, payout details are below as usual. Things are still running fairly smoothly, but a couple of the cards have become slightly more temperamental - the connection between them and the m-board is lost from time to time and they need wiggling about in order to reconnect. It may just need another clean out in there, but it could be a bit of old age showing through.

TxID: a1c655a5a4e66b31629766d45be42ceb455799aa527634b7597a2500a009b650

Hi All, payout details are below as usual.

TxID: e93fe93964fc84362e09ff411693a5c64608013674eb58a9a0afdf821acce017

Hi All, payout details for the last two weeks are below as usual.

TxID: 42c24847d54b81237ecf86693f09da2f4b3a800cd790d51b407f3c58a7a225c8

Still going strong. Great host.

Thanks for your commitment.

Hi All, payout details for the last two weeks are below as usual.

TxID: 7b69d8abcd702b8087fde748fa7766f3ff7adb8233fa8f9a4d95626ba458c3e5