Topic: [Closed] Bitfury miner group buy + hosting (with ESCROW) - page 8. (Read 37366 times)

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txtid : 87a8745e09bd7f8ccf6f47a5acb203b2885814a2c0933c522f615a053b985171

Hi All, there's some exciting news on the BFSB thread (https://bitcointalksearch.org/topic/m.3209340). It looks like October delivery kit will start to be shipped out from bitfurystrikesback next week. So we're definitely getting closer to the time when we should start to see some of our GB components starting to be delivered !

The collection for H-board #6 is now open

Now 10 / 10.33 shares remaining for next component (at current BTC rate shown in the OP)

Now collecting towards a bitfury burner board (40-80 GH/s, estimated 64 GH/s, early October delivery estimate). This has already been ordered and paid for (we have an early order, which should ensure early shipping).

Now 0 / 20 shares remaining for this component

Good news from Cryptz (supplier of the bitfury burner board)

bought another share ,
here's the txtid :
6f64b77e66dce420ffa32620e35d9467d067e106c86383e63d8f135fd2b42666

thankyou.

Now collecting towards a bitfury burner board (40-80 GH/s, estimated 64 GH/s, early October delivery estimate). This has already been ordered and paid for (we have an early order, which should ensure early shipping).

Now 6 / 20 shares remaining for this component

mare,6,3,1DSFkmqxzyH7CynXQ76d6uc1WzSxBHTha2

Now collecting towards a bitfury burner board (40-80 GH/s, estimated 64 GH/s, early October delivery estimate). This has already been ordered and paid for (we have an early order, which should ensure early shipping).

Now 13 / 20 shares remaining for this component

You beat me to it!

Hi, not quite no, sorry if this is confusing. We've updated the OP, which I hope will make things clearer.

* All current orders and contributions to ordered components will stand as they are. They have to, since we've placed orders with bitfurystrikesback for these components.
* The next component that we are collecting for will be the bitfury burner (rather than an H-board). This has already been ordered and paid for, but we're offering shares in it until 24th Sept. If there's not enough interest then we'll mine with it ourselves (outside of the group) and go back to the original plan of collecting for H-boards.
* The hashpower for the bitfury burner will be added to the group's total hash power in the same way that is described in the OP for the other components.
* Once shares in the bitfury burner are gone we will go back to collecting for H-boards from bitfurystrikesback.

Nevermind on the confusion. I saw the first post of this thread and it cleared it up.

Hi All,

Stinky_Pete and I had some discussions off thread yesterday and decided that the bitburner fury does indeed offer some attractive possibilities. Firstly, the estimated shipping start date for these is the first week of October (although we don't know yet if they can realistically achieve this) and as we all know the earlier we start the better with difficulty increasing as it is; secondly, as jlsminingcorp had an order with burnin for bitburnerXX hardware we could place an order for bitfury burners yesterday that would be processed in a separate queue to public orders potentially securing an earlier delivery (*see below); finally, there is the potential that the bitfury burners will have a quite competitive hashrate (the quoted range is 40-80GH/s, but apparently burnin has had one chip in his test rig hashing at 4GH/s over the weekend - see http://asic-hardware.com for info). CryptX the distributors have stated that they will offer a 100 Euro rebate on the order if the board does not reach a hashrate of 64 GH/s. As such, we decided to take the initiative and place an early order in for a bitfury burner using funds from jlsminingcorp and Stinky_Pete (http://s2.postimg.org/moagal7e1/furyburner.jpg). Please note that the "discount" on the order refers to the amount refunded for one bitburnerXX and so the total cost of the miner including VAT and delivery was 872.79 Euro.

*Quote from cryptx, who supply the bitfury burners "All orders made by Bitburner XX customers in the first 24 hours after launch will be placed in front of the public queue. This means your order will come in front of public orders even if public orders are made at www.asic-hardware.com before you." Our order was placed within this period.

We propose to offer this bitfury burner as the next component in our group buy, based on 20 shares** for the component (at 0.5 BTC per share) to the group in the same way as other components in this group buy, the only difference being that this component is already ordered and comes from a different supplier. The bitburner fury will become component 7 of the GB (in place of H-board #6). Those who have already contributed to the collection for H-board #6 will be given the opportunity to switch their contributions to the bitburner fury collection, wait until we are collecting for H-boards again or to have their contribution refunded. All other terms and conditions set out in the OP will remain the same. In particular, please note that we will still distribute any mined BTC in the way stated in the OP: "BTC mined will be distributed to group members in proportion to the number of shares that they own and the number of coins mined by the miner (the miner is defined as all hardware components in this group buy that are actively mining) since the last payment.""Payments will only be made to group members who have shares in components that have been delivered. Payments will not be made to group members who have shares in components that have been ordered, but not delivered." This means that if the bitfury burner arrives before the starter kit then group members who have contributed to this component will begin hashing first, but other group members will benefit from better GH/s/share when the components that they have contributed towards come online. I think that everybody should benefit from this.

Since the bitfury burners are estimated to start shipping in two weeks, we will only hold the collection for the bitfury burner open for a short time (until 9:00 GMT on 24th Sept 2013). If there is not enough interest by this time then jlsminingcorp and Stinky_Pete will run the bitfury miner privately outside the group (any shares contributed to the bitfury burner at this point will be transferred to H-board collections or refunded depending on the wishes of the contributors).

** We reserve the right to amend the maximum number of shares if there is a sudden, significant drop in the BTC price. This is to ensure that we are able to cover the fiat cost of the miner. If we have to do this then those who have already contributed shares will be given the opportunity for refunds. If the bitfury burner does not achieve a hashrate of 64 GH/s and cryptx refund us 100 Euro, as part of their hashrate guarantee, this will be distributed to those who contributed to the collection for the bitfury burner as a dividend when we receive it.

I hope this is all clear. If you have any questions then please post here.

I'm on board with Stinky_Pete.  The longer it takes us to get mining, the longer it will take for us to reach our ROI - if we ever can.  We should get mining as soon as possible.

I agree that it's not as good as we expected. Have I seen a figure of 65 Gh/s actually achieved with one of these boards?

I have been looking at the numbers. If we order in the next couple of days we should get delivery "in the first week of October". Our "October starter kit" should come at the end of that month with the additional H-boards coming in later. The difficulty is going up by 33% every 10 days which is equivalent to 235% in 30 days. So spending BTC10 now gets us 4 Gh/s very soon which will be producing bitcoins; one month later spending BTC5 gets a 4 Gh/s board which will only yield half as many bitcoins. (I've assumed that the 33% increase is from sales of many, many USB ASICs and a few big players bringing their machines into the network - if KnCminer bring their machines to market in September that'll make the increases even higher). I suspect the retailers are using similar figures and are pricing their machines as high as they can so that the purchasers might just get a ROI, but may not make it. In late October and November other bitfury powered hardware will be arriving, the Drillbit boards from Australia, and two different makes of 2Gh/s USB sticks.

So from a purely investment point of view my bottom line is, buy now and get mining as quickly as possible. From a having-fun point of view getting one of these boards and tinkering is attractive, so again my view is go-for-it. I can put some coins in now, and I will stand by my commitment of investing my current ASIC earnings for September into more H boards, but it is probably only going to be 1 or 2BTC. I think the days of home-mining for profit are probably over.

The cheeky sods were supposed to email us loyal customers when the site opened, and yet did an email arrive ?

Anyway, thought that you would all be interested in some pricing on these boards - not quite what was initially announced !

Burnin bitfury board + chips + heatsink + postage + VAT (> 40 GH/s) = 895.40 Euro = 9.95 BTC (at 90 Euro/BTC) = 4.02 GH/s/BTC
H-boards (25GH/s): October delivery: 390 Euro + VAT = 483.6 Euro = 5.37 BTC (at 90 Euro/BTC) = 4.66 GH/s/BTC

This doesn't look good in terms of GH/s/BTC if we assume that the burnin boards run at 40 GH/s. Since nobody has demonstrated chips running much faster than this it would be a bit of a gamble IMO to assume that they will run outside the 40-50 GH/s range (anything else would be a bonus - if anybody can do it then burnin can though). There could be an advantage with burnin boards in terms of delivery dates if burnin meets his early October delivery estimate.

So after being quite keen on the idea of using burnin as a supplier (based on his early estimated prices) I'm now not convinced there's necessarily a case to switch. It all hangs on delivery estimates now, which are fairly hard to predict.

Anybody else have any thoughts? Stinky_Pete are you still keen even with the new pricing?

Edit: Oops, they did email when the site opened it just ended up in my spam filter - sorry cryptx!

I've changed my mind, I now think the Bitburner Fury boards fit into this group buy, and I think we should buy one (with heatsink) or more as quick as we can.

They're on sale!!

http://www.asic-hardware.com/

Hi scotjam, thanks for your input, it's very useful to get some insight from potential group members. As I mentioned to Stinky_Pete, we're not too keen on splitting into two GBs. I do appreciate where you are coming from, but personally I think that we should be trying to get the best hardware (bitfury based at any rate) at the best prices for this group and if an alternative supplier comes along that may provide this then we should be highlighting this to the group and (if there's agreement) potentially switching suppliers. If somebody started selling H-boards at 60% of the price of bitfurystrikesback then it would be pretty clear that the group should buy from the new supplier (as long as they seem reputable etc.) I don't think that we would be discussing a new GB in this case. I don't see burnin's bitfury offer as being so different from this situation, although the exact form of the hardware is different to the H-boards. My concern is that if we split into two GBs then they will inevitably compete with each other and both will be weakened as a result. However, this is just my feeling and if the majority of the group want to continue with this GB as we are then this is what we will do.

I'm quite aware that not many current group members have commented on the burnin bitfury possibility yet. If you do have any thoughts on this then please do post here. Once there's been a bit of discussion in the thread I think that we'll be in a position to propose some possible ways forward and take a vote on these.

Hi All, so here's a link to the order page for H-boards #4 and #5 as promised

http://s24.postimg.org/ikbyyjjb9/hboards_4_5.jpg

I'll do the calculations and update the OP with the correct prices paid now.